From our Swindon correspondent:
Another example of the religious cult of London:-
Last month, Boston Consulting Group and The Network, a group of online recruiters, surveyed over 200,000 people across 190 countries. They found what they found in 2014 and again in 2018. London is named above all cities in the world as a destination to move to and work in. The propensity to move at all is down, which should harm all global cities in absolute terms. But if London’s relative lure is holding, it will take immigration laws of special obstinacy to diminish its world status.
This survey could simply be about how big London is in the UK, where Germans might be splitting their choices. But there’s an important phrase in there: the propensity to move at all is down. Someone in Manchester, Birmingham, Tipton or Newton Abbot is figuring they can do their job from where they are.
But, to some extent, the balance has shifted. London was a more expensive place for property in the mid-90s, but it was maybe double what the prices were in the regions, not treble. It certainly could shift back towards that, and based on current house prices, already is.