Almost 70% of tenants who acquired homes through our offices in 2014 were overseas nationals. Overall the split was roughly a third British, a third other European and a third from elsewhere in the world with Asians being the most dominant group within that.
There were noteworthy differences between our submarkets with Docklands attracting a higher proportion of British tenants (43%) but the lowest numbers of american and Australians, whereas our Midtown office dealt with more Asian tenants and the City with more Americans.
It is interesting that, although Canary Wharf is the most popular location for the offices of American investment banks, Americans renting homes in London gravitate to more central locations. The relatively high proportion of Asian tenants in Midtown reflects the demand from overseas students at UCL, King’s College and LSE.
Cross all our markets, the most common occupation for a tenant is in the financial sector, closely followed by students. Again, these overall ratios disguise distinct differences between the markets. Unsurprisingly, the financial sector was more prevalent in the City and Docklands, where it made up over 30%, while students were by far the most common group at our Midtown office, where they accounted for 62% of all lettings.
Above Data compiled by Hurford Salvi Carr for the period January to December 2014
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