One third of London’s high earners
slept in the office or a nearby hotel in the week, according to a new survey.
The survey from
property advisors GVA Grimley claims that commuting is the biggest concern for
One in 10 of
those surveyed says they avoid travel problems by living in a London-based flat
or hotel during the week rather than their family home.
But despite the transport problems,
London-based employees do not see home-working as an alternative. Over three-quarters
– 77 per cent – of those surveyed are able to work from home but only 13 per
cent do so more than once a month.
Stephen Robinson, senior partner at
GVA Grimley, said, “The poor state of London’s public transport creates a
dilemma for many city-based employers. The congestion and high rents are
constraining their use of space but the intensifying war for talent means that
they must provide a high-quality working environment or risk losing valuable
staff to their competitors.”
According to the survey, the average
time it takes a high earner to commute is nearly three hours each way. 86 per
cent of the 200 lawyers, bankers, consultants and media professionals surveyed
travel by public transport.