Two in five young adults are likely to leave London in the next five years due to crime levels, stalling career opportunities and high rental costs, new research has revealed.
By Kumail Jaffer, Local Democracy Reporter
Two in five young adults are likely to leave London in the next five years due to crime levels, stalling career opportunities and high rental costs, new research has revealed.
A new report from the London Heritage Quarter suggests 18 to 30-year-olds are experiencing a sharp decline in their quality of life, with some young Londoners suggesting life in the capital was now a matter of “survival”, rather than opportunity. The research, carried out by Public First, also found that a third of this age group expect to leave London within the next two years – this equates to around 600,000 people, and 800,000 in the next five years.
This is primarily down to the fact that young Londoners “feel the city has become too expensive to live in, too hard to get ahead in, and for many, too unsafe,” the report reads.
81 per cent say the city is more costly than they expected, while 61 per cent believe the cost of living has become worse since the Covid-19 pandemic.
Ambitious youngsters are also questioning whether it’s worth moving to London for the sake of their career.
Two in five lower earners – those taking in under £30,000 a year – say prospects have worsened in the last five years, with employers hit by increases in National Insurance contributions. This has meant that even those who do enter the the workforce are “stuck in lower-paid roles for longer, limiting the opportunities for career progression and wage growth that our polling shows young Londoners most want”.
In addition, the proliferation of remote and hybrid working has prompted half of young adults surveyed to say they would be more open to living outside the city, even while working within the capital.
The report also highlights the impact of crime, particularly on young women living in the city. Overall, 51 per cent say the city feels less safe than it did in 2021, while almost four in five have been affected by crime in some way.
It concludes that while London has not lost its “magnetism” for young people – 38 per cent of 18 to 30-year-olds who live outside the capital say there are somewhat or very likely to move into the city in the next two years – the increasing population churn of this demographic will mean young Londoners are unlikely to use the capital as anything more than a stepping stone before moving back out.
Ruth Duston OBE, Chief Executive of London Heritage Quarter, told the Local Democracy Reporting Service (LDRS): “City Hall has a critical role to play in making London a place where young people can build a life, not just start a career.
“Our research shows the biggest pressure is housing. Rents have risen sharply, and many young Londoners feel the cost of living is far higher than they expected. If we want to retain talent, we need to see more homes delivered at scale. That means using the next London Plan to release enough land and ensure homes are permitted in a way that actually makes them viable to build.
“There is also a large pipeline of schemes that aren’t coming forward at the moment, so improving viability and unlocking those sites is essential if we’re going to increase supply.
“From a business perspective, this is about London’s workforce. If young people can’t afford to stay, or don’t feel confident about living here long term, employers will find it harder to recruit and retain the talent they need. That’s why making London more affordable, safe and liveable is essential to the city’s long-term competitiveness.”
She added: “London’s future success depends on keeping young talent. This research shows too many young Londoners feel squeezed on rent, safety and quality of life.
“If we want London to remain a magnet for investment and opportunity, City Hall, ministers and business will need to work together to address those challenges.”
The Mayor of London declined to comment.
