Capital Gains? A study of LondonersThrivers, survivors and outsiders
10th July 2014
Special thanks to…
And all those who gave up their time to speak to us in the early stages of the project.
What we did…London
Survey of 1,000 adults living in
London
Focus groups with: young graduates in
central London; middle class
homeowners; and working class outer
Londoners
Analysis of rare historical survey
data from 1970s and 1980s
Outside London
Survey of 1,745 UK adults living outside
London
Focus group with young graduates
living in York
Scoping interviews and roundtables with
key experts and decision-makers
London is different
What we found…
From the rest of the country
And from the London of the ’70s and ‘80s
And Londoners are different, too
“I love living in London – I can do what I want, when I want.”
Ric, ‘Thriver’
“No-one has time to relax, everyone has to
meet deadlines... It’s like being on one big
treadmill.”Hannah, ‘Survivor’
“I don’t go to London any more. I can’t stand the
place.”Jackie, ‘Outsider’
In many ways, London is better
London is more exciting…
34%
of Londoners say they are never bored in
London
“I’m proud of our reputation abroad. People get excited about London wherever you go in the
world.”Survivor, London
84%50%
LondonersNon-Londoners
There are enough opportunities for
entertainment, events and cultural attractions in
London/my local area to keep me happy
Living in London is exciting
2014: 79%
1977: 41%
London offers more opportunities…
74%
of Londoners say London is a good place to set up a business
66%38%
LondonersNon-Londoners
I feel like there are opportunities for me to be successful in London/my local
area
“Everyone knows London
is the best place for jobs, it’s growing at such a rapid
rate.”Survivor,
London
London is more tolerant and accepting…
76%
59%
LondonersNon-Londoners
London/my local area is a place where you are accepted
no matter what your race, religion, sexuality, age and
appearance is
“York isn’t a very tolerant place, it’s more socially acceptable to be racist. I think in London, you get judged
less.”Young graduate, York
“Because it’s so multicultural and diverse, with all these
different people and cultures,
it’s really buzzy and exciting.”
Outsider, London
Local life in London – and public services in particular – are improving…
73%of Londoners would be happy to be treated at their local hospital
38%23%
LondonersNon-Londoners
My local area is better now than it was 3 years ago
52%
of Londoners with children say that the quality of schools near them have improved in recent years
And crime is less of a concern…
In 1987, Londoners thought that crime
was the worst thing about living
in London
In 2014, crime ranks as only the
6th worst thing about life in
London
I have been prevented from
going out at night by the
threat of attack37%
“I know that there is crime in my
area, I’ve had my moped stolen. But I never feel scared or like my area is
dangerous.”Survivor, London
In 1987:
(Although perceptions of the most dangerous areas in London haven’t changed much…)
In 1987, Londoners thought that the most dangerous part of London was Brixton, followed by Soho and Hackney
In 2014, Londoners think that the most dangerous parts of London are:
In other ways, London fares worse
London is expensive…Worst things
about living in London:
“I think it’s run for the rich and the upper middle class. It’s not run for the heart of London, for the people that
make it tick.” Thriver, London
75%
say there are a lot of things that I would like to do in London but can’t afford to
77%
think London is becoming a place for the superrich while people on normal incomes are being squeezed out
London has a housing problem…
71%
of renters think they will never be able to afford to buy their own home in London
82%of Londoners think
that there is a significant shortage of housing in their
area
“You want to buy a house because it feels like progress and because you don’t have to worry about getting kicked out by a landlord. But I’ll probably have to move out of London
before I can buy somewhere in London.”Survivor, London
For Londoners in 2014, the most
sought after improvement to
their local area is housing that is more affordable
(Londoners have clear preferences for where they do and don’t want to live)
The part of London I’d least like to live in:
The part of London I’d most like to live in:
London feels overcrowded…
Worst things about living in London:
47%31
%
LondonersNon-Londoners
There are too many people living in my
area
“There’s just too many people
wherever you go. And it’s not just Central London, it’s round here
too.”Outsider, London
Though not all parts of London always feel overcrowded
36%
feel like a lot of residential buildings near them aren’t occupied
Residents of Central London boroughs
“Central London, especially places like the City, are horrific. Everyone is there walking around like a lemming – and then
on the weekend it turns into a ghost town.” Survivor, London
Life in London takes an emotional toll…
Proportion of Londoners who
never feel angry
2014: 15%
1987: 33%
On average, on how many days each
year do you feel
angry?
79
54Non-Londoners
Londoners
“It’s so fast-paced, everyone’s moving all the time. I think it must be awful for older people
who just want to chill, I’d find it so hard to relax in London.”
Survivor, London
On average, on how
many days each year do
you feel
stressed?
132
94 Non-Londoners
Londoners
Who gains from London?
Remember Ric, Hannah and Jackie?
OutsiderThriver Survivor
Meet Ric…he’s a Thriver
‘Thrivers’
• Middle-class (ABC1)• Aged 55 and over
• Likely to be retired with private pension
• Likely to be a homeowner• Likely to use services like
cleaners, gardeners• Likely to be White• Likely to vote
Conservative
Ric is better able to afford life in London…“It’s great for me because I live on a great pile of money having bought my house so many years
ago (although I worry for my kids).”
Thriver, London
49%23%
I have to make large sacrifices
to live in London
Thrivers Other Londoners
78%59%
There are a lot of things that I would
like to do in London but can’t
afford to
Thrivers Other Londoners
He’s more settled in his local community…
“It’s a great place to live, it’s a fabulous city. There are more picturesque places, but it’s a
great place to live.”Thriver, London
84%
Thrivers Other Londoners
52%
I feel comfortable leaving a key with
my neighbour
How often do you feel relaxed?
209 days per year
141 days per year 62%
Thrivers Other Londoners
39%
I have chosen to live in this area and feel settled and as if I belong here
And he loves what London has to offer
“All the things you can do, all the theatres and galleries, it beats every
other city.”Thriver, London
95%
Thrivers Other Londoners
82%
There are enough opportunities for
entertainment, events & cultural attractions in
London to keep me happy
Living in London makes you feel like
you are at the centre of things
84% 76%
This is Ric’s London…
Meet Hannah…she’s a Survivor
‘SURVIVORS’
• Middle-class (ABC1)• Aged 18-35
• Likely to be a graduate• Likely to be working full-
time• Likely to be living in rented accommodation
• Likely to vote Labour• As likely to be BAME as
White
Hannah feels that life in London has a cost…
“Everything in London costs double. I have friends in Manchester and their rent is half what I pay – and they earn more than half of what I do. You need to think if it’s worth
that sacrifice.”Survivor, London
58%
Survivors Other Londoners
41%
I have to make large sacrifices to
live in London
If you live in London, you
have to accept a lower quality of
life than you could have elsewhere
54%
41%
She doesn’t feel part of a local community…
“You just feel like you’re in your own little bubble. There’s a disregard for other people…
There’s not much interaction, everyone’s just doing their own
thing.”Survivor, London
45%
33%
I have chosen to live in this area and feel settled
and as if I belong here
Survivors Other Londoners
Feel lonely at
least once a week
44%
32%
And feels that she is always competing and struggling to succeed…
“London’s such a competitive environment in so many ways. In
terms of work, dating. There’s a lot of other people, so you have to
stand out and appearance is something you have to get right if
you want to get ahead.”Survivor, London
“Because there’s always so much going on, I get the
feeling that, wherever you are in London, you feel like you’re in the wrong place.”
Young graduate, York
Young Londoners feel more pressure to dress to impress
than young people elsewhere in the country.
54% of Londoners aged 18-34 choose clothes, shoes and
accessories as among their top three spending priorities, compared to 35% of non-
Londoners of the same age.
58%
Survivors Other Londoners
44%
Feel stressed every 2-3 days or
more often
Owning her own home is a pipe dream…
“I don’t think that it’s remotely possible. If you spend all your
money on rent and you’re single, I don’t think you can afford to buy in London. Especially not if you don’t have help from parents or you’re
not born into wealth.”Young graduate, London
61%
Of survivors think that they won’t ever be able to afford to buy their own home in London
Survivors Other Londoners
76%83%
Owning my own home is
something that is very important to
me
Hannah’s London looks a bit like this:
Meet Jackie…she’s an Outsider
‘OUTSIDER’
• Working-class (C2DE)• Aged 55 and over
• Likely to be retired on state pension
• Likely to be non-graduate
• Likely to be White British
• Likely to be homeowner• More likely to vote UKIP
than Thrivers or Survivors
Jackie doesn’t feel like she’s sharing in London’s success…
69%45%
I feel like there are opportunities for me to be successful in
London
Outsiders Other Londoners
My local area has got worse in the last
three years
35%
21%
“The boroughs nearer the city get all the money. The
further out you get, the smaller the share of the pot you get. That’s how it feels.”
Outsider, London
Hers isn’t a cosmopolitan lifestyle…
“When you go to Central London, it
feels like a holiday resort
with lots of people milling
around.”Outsider, London
Travel to Central London (excl. commuting)
45
93
Go to the theatre, cinema or opera
5
15
Go to a restaurant for lunch or dinner
13
25
How often do you do the following (no. of days every year)?Outsiders Other
Londoners
“I only go into London once or
twice a year. We make an adventure of
it.”Outsider, London
Jackie is being drawn out of London…
42%
14%
I would prefer to live closer to the centre
of London if the right kind of
accommodation was available
Outsiders Other Londoners
“When you get off the train in London, you breathe in and
think, ‘This is a different country altogether’. I can’t wait to get
home as soon as I get there, it’s too much… It’s too busy.”
Outsider, London
“We go to Romford or Ilford on the weekends now. It’s just
calmer and cleaner out there.”
Outsider, London
Jackie doesn’t feel part of London at all
London’s future
For now, London is still seen as a vibrant city with a future…
“My children would never consider working anywhere other than London.”
Thriver, London
London is the most popular
choice of city for non-Londoners
aged between
18-34
66%
52%
LondonersNon-Londoners
I feel optimistic about
London/my local area’s future
But is its growth sustainable if it doesn’t become more inclusive?
43%
of Londoners aged 18-34 expect to leave London within the next 10 years
“I think over the next few years, people like us will be priced out of London. We’re not
going to earn anywhere near what London expects us to earn. We’re going to need to sit back and think ‘If I move ten miles from where I
am now, I might be a bit more comfortable
financially.”Outsider, London
18-24 25-34 35-44 45-54 55-64 65+40%45%50%55%60%65%70%75%
Younger Londoners feel less optimistic about the city’s
future
Thank you for listening… and introducing our panel of experts:• Dame Tessa Jowell
(MP for Dulwich & West Norwood)• Baroness Jo Valentine
(Chief Executive, London First)• Sharon Ament
(Director, Museum of London)• Alastair Baird
(Regional Managing Director, Barratt London)
• Stephen Bevan (News Editor, Sunday Times)