House prices vary widely in the United Kingdom (UK), but housing in certain cities and counties is substantially pricier than in others. Surrey, for example, concentrated four of the most expensive towns to buy a home, including Virginia Water, Cobham, and Esher. With an average house price of over one million British pounds as of June 2024, housing in these towns cost roughly four times the national average. How did house prices change since the COVID-19 pandemic? Since the start of the coronavirus (COVID-19) pandemic, demand for housing has been especially high, causing house prices to soar. Among major UK cities, the house price increase was most prominent in Belfast, where it rose by 5.5 percent in 2024. According to the UK House Price Index, the average annual house price increase on a national level was even higher. How long does it take to sell a house? With the demand for housing going strong and inventory running low, aspiring homeowners need to act faster than ever when making an offer on a home. The average number of days on market has continued shortening since the start of 2021 and was a little over a month as of October 2021. Surprisingly, selling a property took the longest in the UK’s most competitive market - London.

The gross domestic product per capita of London was ****** British pounds in 2023, far larger than that of other major cities in England, such as Manchester which had a GDP per capita of ****** pounds.

The city of Paris in France had an estimated gross domestic product of 757.6 billion Euros in 2021, the most of any European city. Paris was followed by the spanish capital, Madrid, which had a GDP of 237.5 billion Euros, and the Irish capital, Dublin at 230 billion Euros. Milan, in the prosperous north of Italy, had a GDP of 228.4 billion Euros, 65 billion euros larger than the Italian capital Rome, and was the largest non-capital city in terms of GDP in Europe. The engine of Europe Among European countries, Germany had by far the largest economy, with a gross domestic product of over 4.18 trillion Euros. The United Kingdom or France have been Europe's second largest economy since the 1980s, depending on the year, with forecasts suggesting France will overtake the UK going into the 2020s. Germany however, has been the biggest European economy for some time, with five cities (Munich, Berlin, Hamburg, Stuttgart and Frankfurt) among the 15 largest European cities by GDP. Europe's largest cities In 2023, Moscow was the largest european city, with a population of nearly 12.7 million. Paris was the largest city in western Europe, with a population of over 11 million, while London was Europe's third-largest city at 9.6 million inhabitants.

In 2023, London had a gross domestic product of over 569 billion British pounds, by far the most of any region of the United Kingdom. The region of South East England which surrounds London had the second-highest GDP in this year, at over 360 billion pounds. North West England, which includes the major cities of Manchester and Liverpool, had the third-largest GDP among UK regions, at almost 250 billion pounds. Levelling Up the UK London’s economic dominance of the UK can clearly be seen when compared to the other regions of the country. In terms of GDP per capita, the gap between London and the rest of the country is striking, standing at over 63,600 pounds per person in the UK capital, compared with just over 37,100 pounds in the rest of the country. To address the economic imbalance, successive UK governments have tried to implement "levelling-up policies", which aim to boost investment and productivity in neglected areas of the country. The success of these programs going forward may depend on their scale, as it will likely take high levels of investment to reverse economic neglect regions have faced in the recent past. Overall UK GDP The gross domestic product for the whole of the United Kingdom amounted to 2.56 trillion British pounds in 2024. During this year, GDP grew by 0.9 percent, following a growth rate of 0.4 percent in 2023. Due to the overall population of the UK growing faster than the economy, however, GDP per capita in the UK fell in both 2023 and 2024. Nevertheless, the UK remains one of the world’s biggest economies, with just five countries (the United States, China, Japan, Germany, and India) having larger economies. It is it likely that several other countries will overtake the UK economy in the coming years, with Indonesia, Brazil, Russia, and Mexico all expected to have larger economies than Britain by 2050.

FOCUSON**LONDON**2011:**POVERTY**:THE**HIDDEN**CITY

One of the defining features of London is that it is a city of contrasts. Although it is considered one of the richest cities in the world, over a million Londoners are living in relative poverty, even before the additional costs of living in the capital are considered.

This edition of Focus on London, authored by Rachel Leeser, presents a detailed analysis of poverty in London that reveals the scale and distribution of poverty in the capital.

REPORT:

Read the full report as a PDF.

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PRESENTATION:

What do we mean by living in poverty, and how does the model affect different types of families? This interactive presentation provides some clarity on a complex concept.

CHARTS:

The motion chart shows the relationship between child poverty and worklessness at borough level, and shows how these two measures have changed since 2006. It reveals a significant reduction in workless households in Hackney (down 12 per cent), and to a lesser extent in Brent (down 7 per cent).

The bar chart shows child poverty rates and the change in child poverty since 2006. It reveals that while Tower Hamlets has the highest rate of child poverty, it also has one of the fastest falling rates (down 12 per cent), though Haringey had the biggest fall (15 per cent).

Charts

DATA:

All the data contained within the Poverty: The Hidden City report as well as the data used to create the charts and maps can be accessed in this spreadsheet.

FACTS:

Some interesting facts from the data…

● Highest proportion of children in workless households, by borough, 2010

1. Westminster – 35.6%
2. Barking and Dagenham – 33.6%
3. Lewisham – 33.1%
4. Newham – 31.4%
5. Islington – 30.6%

-31. Barnet – 9.1%

-32. Richmond upon Thames – 7.0%

● Changes in proportions of workless households, 2006-09, by borough

1. Hackney – down 12.3%
2. Brent – down 7.3%
3. Tower Hamlets – down 4.8%
4. Lambeth – down 4.2%
5. Hillingdon – down 4.1%

-31. Enfield – up 5.8%

-32. Bexley – up 7.3%

● Highest reduction in rates of child poverty 2006-09, by borough:

1. Haringey – down 15.0%
2. Newham – down 12.9%
3. Hackney – down 12.8%
4. Tower Hamlets – down 12.1%
5. Southwark – down 11.5%

-31. Bexley – up 6.0%

-32. Havering – up 10.3%

National and subnational mid-year population estimates for the UK and its constituent countries by administrative area, age and sex (including components of population change, median age and population density).

In 2023, the gross domestic product per capita in London was 63,618 British pounds, compared with 37,135 pounds per capita for the United Kingdom as a whole. Apart from London, the only other region of the UK that had a greater GDP per capita than the UK average was South East England, at 38,004 pounds per capita. By contrast, North East England had the lowest GDP per capita among UK regions, at 26,347 pounds. Regional imbalance in the UK economy? London's overall GDP in 2022 was over 508 billion British pounds, which accounted for almost a quarter of the overall GDP of the United Kingdom. South East England had the second-largest regional economy in the country, with a GDP of almost 341.7 billion British pounds. Furthermore, these two regions were the only ones that had higher levels of productivity (as measured by output per hour worked) than the UK average. While recent governments have recognized regional inequality as a major challenge facing the country, it may take several years for any initiatives to bear fruit. The creation of regional metro mayors across England is one of the earliest attempts at giving regions and cities in particular more power over spending in their regions than they currently have. UK economy growth slow in late 2024 After ending 2023 with two quarters of negative growth, the UK economy grew at the reasonable rate of 0.8 percent and 0.4 percent in the first and second quarters of the year. This was, however, followed by zero growth in the third quarter, and by just 0.1 percent in the last quarter of the year. Other economic indicators, such as the inflation rate, fell within the expected range in 2024, but have started to rise again, with a rate of three percent recorded in January 2025. While unemployment has witnessed a slight uptick since 2022, it is still at quite low levels compared with previous years.

In 2019, people from most ethnic minority groups were more likely than White British people to live in the most deprived neighbourhoods.

In order to bring a thorough and comprehensive understanding of social, economic and environmental sustainability challenges faced by cities and local communities in the developing countries, the SHLC team conducted a major household survey followed by a neighbourhood focus group interview in seven Asian and African countries from late 2021 to early 2022. In each country the study includes two case study cities: one large city and one smaller regional cities. Within each case study cities, neighbourhoods were identified and categorised into five income and wealth bands: the rich, upper middle income, middle income, lower middle and low income neighbourhoods. A household survey was carried out face to face by trained interviewers with a random adult member of the household. The 20 page common questionnaire was designed and adopted by all teams, which cover topics of housing, residence, living conditions, migration, education, health, neighbourhood infrastructure, facilities, governance and relations, income and employments, gender equality and impacts from Covid-19. The sample was distributed in the city to representative the five neighbourhood types. The survey was completed in 13 of the 14 case study cities (fieldwork in Chongqing in China was delayed by the Covid-19 lockdowns and implemented in August 2023). The target sample for each city was 1000; the total sample in the database (SPSS and STATA) include 14245 households. The survey was followed by focus group interviews. A carefully designed and agreed common interview guide was used by all team. The target was to have one focus group for one neighbourhood in each income band in each city. A total of 74 focus group interviews were conducted (Fieldwork in Datong and Chongqing in China was delayed). The transcripts are the qualitative data shared here.

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By 1800, London had grown to be the largest city in Western Europe with just under one million inhabitants. Paris was now the second largest city, with over half a million people, and Naples was the third largest city with 450 thousand people. The only other cities with over two hundred thousand inhabitants at this time were Vienna, Amsterdam and Dublin. Another noticeable development is the inclusion of many more northern cities from a wider variety of countries. The dominance of cities from France and Mediterranean countries was no longer the case, and the dispersal of European populations in 1800 was much closer to how it is today, more than two centuries later.

This statistic shows the highest valued towns in Wales as of *********, by average property value in British pounds. The town of Cowbridge in the Vale of Glamorgan has the highest average property value of any town in Wales with an average house price of approximately ******* British pounds.

In 2025, Moscow was the largest city in Europe with an estimated urban agglomeration of 12.74 million people. The French capital, Paris, was the second largest city in 2025 at 11.35 million, followed by the capitals of the United Kingdom and Spain, with London at 9.84 million and Madrid at 6.81 million people. Istanbul, which would otherwise be the largest city in Europe in 2025, is excluded as it is only partially in Europe, with a sizeable part of its population living in Asia. Europe’s population is almost 750 million Since 1950, the population of Europe has increased by approximately 200 million people, increasing from 550 million to 750 million in these seventy years. Before the turn of the millennium, Europe was the second-most populated continent, before it was overtaken by Africa, which saw its population increase from 228 million in 1950 to 817 million by 2000. Asia has consistently had the largest population of the world’s continents and was estimated to have a population of 4.6 billion. Europe’s largest countries Including its territory in Asia, Russia is by far the largest country in the world, with a territory of around 17 million square kilometers, almost double that of the next largest country, Canada. Within Europe, Russia also has the continent's largest population at 145 million, followed by Germany at 83 million and the United Kingdom at almost 68 million. By contrast, Europe is also home to various micro-states such as San Marino, which has a population of just 30 thousand.

The City of Edinburgh had a gross domestic product of just over 33.5 billion British pounds in 2023, the most of any local area of Scotland. Glasgow City had the second-highest GDP of Scottish local areas, at 28.9 billion pounds, followed by Aberdeen City and Aberdeenshire at around 18.7 billion pounds.

East Dunbartonshire, the city of Edinburgh, East Loathian and East Renfrewshire were the most xpensive regions for residential property in Scotland as of February 2025. The average house price in those regions were over 300,000 British pounds. In comparison, the average house price in Scotland was almost two times lower. Which are the most expensive streets to live in Scotland? With the average house price valued at approximately 3 million British pounds, Queen's Crescent, Auchterarder PH3 was the most expensive street for residential real estate in Scotland in 2024. This was almost twice higher than in the second-priciest street, Ann street, Edinburgh EH4. Compared to other regions in the UK, Scotland is affordable Though 3.6 million British pounds is an impressive figure, not all housing in Scotland falls in this price bracket. In fact, with an average house price of about 170,000 British pounds, Scotland is the third most affordable region for first-time home buyers. Furthermore, it has the second lowest rent to income ratio in the UK.

The British Museum was the most visited tourist attraction in London in 2024, welcoming roughly *** million visitors. The Natural History Museum in South Kensington and the Tate Modern followed in the ranking that year, with around *** million and *** million visits, respectively. Overall, while the combined attendance at the leading tourist attractions in London increased in 2024 over the previous year, the number of visits at most of the selected attractions remained below pre-pandemic levels. Museums in the UK The museum industry plays an important role in the United Kingdom’s cultural sector. In 2023, museums and galleries accounted for approximately ***** percent of the cultural sector's employment in the UK. Meanwhile, the number of museum enterprises in the United Kingdom experienced an annual increase in 2024, reaching nearly ***. London's contribution to tourism in the UK London is by far the most visited destination in the United Kingdom by international travelers, accounting for over **** of all international tourist arrivals in the UK in 2023. That year, the UK's capital also ranked as the leading city tourism destination in Europe based on the number of bed nights, ahead of Paris and Istanbul.

In the first quarter of 2025, London West End - Bond Street was the most expensive location for prime high street rents in the UK, with prices reaching 2,500 British pounds per square foot. The West End was ranked ahead of London City, which came in third. In Manchester, the annual costs of rental per square foot of prime retail real estate amounted to 235 British pounds. Retail warehouses Retail warehouses typically range from 50,000 to hundreds of thousands of square feet. They are used for keeping and distributing inventory. Retail warehouses include loading docks, truck doors and large parking lots; also, they may contain a limited amount of office space. Prime retail warehouse properties belong to the wider category of industrial property, along with other real estate types, such as distribution buildings, showroom facilities, manufacturing buildings, cold storage facilities, telecom or data hosting centers, "flex" buildings denoting more than one industrial or commercial facility housed in the same building, and finally R&D buildings. Prime yields of high street retail across Europe Retail real estate prime yields in Europe were the lowest in Zurich, Switzerland, and the highest in Bucharest, Romania in 2025. As could be expected, larger cities in Europe tended to produce lower yields, due to the lower risk associated with these markets. Locations with lower yields tend to have steady occupancy rates and rental growth.

In 2023, ******* individuals with net assets of at least ** million U.S. dollars were residing in the *************, by far the highest number of any country. By comparison, *****, which had the second highest number of ultra high net worth individuals (UHNWIs), had less than 100,000 individuals with assets amounting to ** million U.S. dollars or more.Place of residence of ultra high net worth individuals The residency of almost half of the world’s ultra high net worth individuals in the United States explains the dominance of North America in regard to the number of ultra high net worth individuals by region. Hong Kong was the city with the most UHNWIs in 2022, followed by New York, London, and Los Angeles. Source of wealth and gender differences A majority of the world's UHNWIs are self-made. However, looking at billionaires, there is a clear difference between men and women; whereas a majority of billionaire men were self-made, a majority of the women had inherited their fortune.