Wednesday, 6 August 2014

Moving West to East in London

There can be no doubt about it: the 'centre of gravity' in London is moving from the western, typically more upmarket side of London, to the eastern, traditionally more working side.

Sure the west is still prospering, and generally speaking property prices and rentals are much higher in most parts of west London than in the east.  However gradually people are beginning to like particularly parts of east London more, and in the future many people will actually prefer to live there.

This ongoing change has come about for a number of reasons.  The development of the business location of Canary Wharf, a few miles to the east of the City of London, has encouraged people to live closer to where they are spending most of the day.  This has been helped by the building of dozens of high-rise luxury apartment buildings.  These are particularly popular if they have river, or even canal, views as everyone likes to look over water from their living rooms.

The Olympics being staged at Stratford helped a lot too as this event brought about the regeneration of one or two square miles of previously run-down land.  At the same time, the massive new Westfield Shopping Centre was built: with almost 300 stores and 70 bars and restaurants: this has meant that people living in the general area no longer need to head into the West End for their shopping.

And this remaking and improving of the East End is ongoing.  The next focus will be on the Royal Docks where large-scale business parks are going ahead, along with luxury apartment developments.  With the famous Earls Court exhibition centre due to be demolished within the next year, the ExCel Centre which overlooks the Royal Docks will monopolise the staging of exhibitions in London.

Plenty more can be written about future developments in East London, so look out for future posts on specific topics.


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