As anyone who lives in or visits it will know London is already a very crowded place to be. So, it may come as something of a shock to those who struggle to find housing, or struggle to get around on crowded roads and trains, that London is expected to get bigger - much bigger - over the next few decades. Official estimates suggest that London's population will rise from around 8.3m now to 9.4m by 2022 - and then up to over 11m by 2050.
To put this in context, it means the equivalent of the population of Birmingham moving to London within the next six years. By the middle of this century three times the population of Birmingham will effectively have upped sticks and moved into London.
Unattractive as squeezing more people into London might seem, most investors will be able to see the opportunity here: A fast growing population is likely to support fast growing demand for property, fast growing rents and accelerate prospects for ongoing growth in capital values. So in this report we look at the subject of London expansion. We will look at how, by how much and where the city's population is likely to expand. We will also look at the latest price and rent projections. And in doing so we will consider what problems and opportunities this phenomenal growth in the population of London could present to property investor-landlords and developers.
Projections of London growth
The Office for National Statistics or ONS is the UK's official, national statistical institute. They produce population, demographic and migration projections every two years. Their projections are based on the latest estimates of UK population and assumptions regarding levels of fertility, migration and mortality. Their latest projection that London's population will increase from 8.3m now to 9.4m in 2022 is part of a wider projection that the UK population will increase from around 64m in 2014 to 70m in 2027 and then 74m in 2039. This will then make the UK the EU's most populous country - assuming it is still a member of course.