The Demographics of Canning Town’s Population

Canning Town, located in the east of London, has a rich history that dates back to the 19th century. It was known as an industrial area, famous for its docks and factories. Over the years, Canning Town has transformed into a diverse residential area with excellent transport links and modern amenities. This transformation has been accompanied by a rise in population, and if you’re considering investing in a buy-to-let property in Canning Town, it’s important to understand the key factors that drive this growth.

Population size and growth

Canning Town’s population has been growing steadily over the last few years. According to the Office for National Statistics (ONS), the population of Canning Town and Custom House was estimated to be 38,585 in mid-2019. This is a 16% increase from the 2011 census. In comparison, the average population growth rate for London boroughs was 11% during the same period.

Age of the population

Canning Town has a younger population compared to the rest of the UK. According to the ONS, the median age of the population in Canning Town and Custom House is 31 years old. This is considerably younger than the UK average of 40 years old. The high proportion of young people in Canning Town can be attributed to the growing number of students and young professionals moving into the area.

Employment rate

Canning Town has an unemployment rate of 6%, which is slightly higher than the average for London. However, there are several initiatives in place to improve employment opportunities in the area, including the development of the Royal Docks Enterprise Zone. This is a government-led initiative that aims to create new job opportunities and boost economic growth in the area. The Enterprise Zone has already attracted several international companies, including Siemens, which has opened a new campus in the area.

Education level and students

Canning Town has a lower percentage of residents with higher education qualifications than the average for London. According to the ONS, around 30% of the population in Canning Town and Custom House have a degree or equivalent, compared to the London average of 38%. However, there are several universities within easy reach of Canning Town, including the University of East London and Queen Mary University. These universities have a combined student population of over 50,000, making Canning Town an attractive location for buy-to-let investors targeting the student market.

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Volume of renters versus homeowners

Canning Town has a higher proportion of renters than homeowners, which is in line with the London average. According to the 2011 census, around 51% of households in Canning Town were rented, compared to the London average of 49%. The high volume of renters in Canning Town can be attributed to several factors, including the relatively affordable property prices, good transport links, and proximity to universities and employment opportunities.

Crime rate

Canning Town has a higher crime rate than the UK average, although the crime rate has been decreasing in recent years. According to the Metropolitan Police, the number of reported crimes in Canning Town and Custom House fell by 4% in the 12 months to October 2021. The most common types of crime in the area are theft, burglary, and vehicle crime. However, there are several initiatives in place to improve safety in the area, including the deployment of additional police officers and the installation of CCTV cameras.

In conclusion, investing in a buy-to-let property in Canning Town can be a smart move, but it’s important to consider the key factors that affect the local population. Canning Town has a growing population, a younger demographic, and a high volume of renters, making it a desirable location for a buy-to-let investment.