22 Sep

Does London have a liveability problem?

The Economist Intelligence Unit's recently released Global Liveability Report for 2016 ranks global cities based on a number of factors. Melbourne came first, Vienna second, Vancouver third...and London 53rd (unchanged from 2015). Sadly, London also failed to make Monocle magazine's list of the top 25 cities to live in the world.

High levels of congestion, unhealthy air pollution, potential terrorism threats, and still-rising property prices all counted against the capital, but it's theorised that London is very much a victim of its own success. These factors are influenced by overall city population, population density, and desirability of residence / city significance – such that demand for living in London indirectly contributes to significant negative externalities in a feedback loop.

Despite these negatives, clearly demand to live in London remains very strong. In the latest CBRE Global Living Report London was ranked as the second most expensive city to rent living space in the world, being pipped to the post by Singapore, although London had previously held the top spot.

Looking for the positives for the capital’s current residents, the CBRE report reveals they can benefit from relatively cheap coffee, cheap milk to have in your coffee, and low petrol prices by global city standards; although these are balanced by some of the world’s highest prices for cinema tickets and restaurant meals.

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