New report says Londoners are “migrating east” to Stratford, Bow, and Stepney Green
- Credit: Archant
A new report suggests “east is the new west” for Londoners as the area becomes increasingly attractive for those looking to set up home in the capital.
The Centre for Economics and Business Research’s (Cebr) latest London Housing Fundamentals Index highlights the contrast between areas which have high prices and “faux desirability”, and those with “true desirability” based on solid practical criteria.
It said the “migration east”, which began in areas such as Shoreditch, Bethnal Green and Dalston, continues to be a key social trend in London.
Both homebuyers and renters are moving into Stratford, Bow, Stepney Green, and East Village, the area around Queen Elizabeth Olympic Park, with properties becoming more sought after.
The Cebr highlights the impact of Crossrail, the close proximity of Westfield Stratford City as well as growing employment prospects in the wider Stratford area.
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Cebr analyst Osman Ismail said: “The research conducted clearly shows that areas within the east of London offer a high standard of living.
“The Olympics gave the east a big boost, but it is the overall cost to liveability ratio of places like Stratford and E20 which is likely to entice more and more Londoners to head east.”
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