The rate at which prices are rising (inflation) may be slowing but prices are still high, particularly for food. Combined with record high rents and interest rate rises causing mortgage payments to increase, things have been incredibly difficult for some families. Rents are predicted to continue to rise but not as sharply as we saw in 2023 and house prices are predicted to fall according to analysts. But finding a secure, suitable home has not been easy for many Londoners. And in 2023 we reported many times on the difficult conditions for some. New legislation aimed at improving things for tenants could become law this year with the Renters (Reform) Bill. But housing will remain a huge issue and, in an election year, we can expect to hear promises and potential policies to build more homes.
The way some Londoners work remains changed since the pandemic. And while more people are heading into offices, hybrid and remote working will remain the norm for many this year. The impact of technology could affect the capital in other ways too. A recent government report found London was the part of the country potentially most exposed to the impact of artificial intelligence because of the number of professional roles held in the capital that could be affected.
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