Summary
London's housing crisis is affecting the UK's economy. High housing costs and a lack of available homes make it hard for skilled workers to live in London, impacting the economy. Many people are leaving London because they can't afford to live there.
Key Facts
- London's housing crisis has led to a national economic concern in the UK.
- London has been the slowest-growing region in the UK since 2008.
- About a quarter of the UK economy depends on London.
- High house prices and too few homes are key problems.
- Many skilled workers find it hard to move to or stay in London.
- People are leaving London because they can't afford housing costs.
- 42% of people aged 25-45 in Greater London feel they may have to leave despite not wanting to.
- Many UK businesses are moving jobs to other cities like Manchester because of high living costs in London.
