Britain’s job market is undergoing a shift, with mid-sized regional hubs emerging as the top destinations for employment and business growth. According to a new study by CoworkingCafe, smaller cities are outperforming major urban centers in key job market metrics such as employment rates, business density, and affordability.
Winchester tops the ranking as Britain’s best city for jobs, boasting an 87% employment rate, the highest business density in the country, and nearly 90 job postings per 10,000 working-age residents. With a median income of £45,116, Winchester offers strong career prospects in a thriving business environment. Warwick follows in second place, driven by an 86.9% employment rate and an almost 18% year-over-year employment rate increase. Meanwhile, Stafford secures third place with Britain’s highest employment rate (88.4%) and the fastest-growing job market, seeing a 21.9% year-over-year increase in employment rate. Stafford is also among the more affordable cities for homebuyers, with the average home costing the equivalent of 6.6 times the median annual income.
Despite affordability challenges, London remains competitive, ranking 11th overall. The capital boasts a high business density and 115 job postings per 10,000 working-age residents, reinforcing its role as a key economic hub and an attractive job market.
Aberdeen, the only Scottish city in the top 10, ranks ninth overall but stands out for its affordability. Workers here can purchase a home with just four years’ salary, making it an attractive destination for cost-conscious professionals.
Regional Trends Show Strong Job Markets Beyond London
The South East emerges as Britain’s strongest region in the CoworkingCafe ranking, being represented with eight cities in the top 20. These cities excel in employment rates, business density, and earnings. Apart from Winchester, Reading, Guildford, and Crawley — which landed in the top 10 overall — Horsham and Bracknell also stood out securing top-10 placements in employment subcategory (which focused on employment rate and job availability metrics). Not to be outdone, Sevenoaks and Milton Keynes stand out for their strong business climates, particularly in high-growth business density. Notably, all four of these latter cities boast high incomes, with Horsham and Sevenoaks also ranking in the top 10 by income growth.
The West Midlands follows as the second-best region, with four cities ranking highly for employment and business growth. Of course, Warwick and Stafford already feature prominently in the national top 10, but Stratford-upon-Avon further reinforces the region’s economic strength, ranking second nationwide for business density and among the top 10 for high-growth enterprises — on top of registering one of the highest employment rates in the country. Meanwhile, Solihull demonstrates a well-rounded economic profile with high employment levels, competitive incomes and a thriving business community.
Key Findings from the Study:
- Highest Employment Rate: Stafford (88.4%)
- Fastest Employment Growth: Stafford (+21.9% Y-o-Y)
- Most Active Business Environment: Winchester (177 businesses per 10,000 residents)
- Highest Number of Job Openings: Cambridge (219 postings per 10,000 working-age residents)
- Highest Median Income: St Albans (£53,829/year)
- Most Affordable Home Prices: Aberdeen (4 years’ median income to buy a home)
- Lowest Rent Burden: Doncaster (21.2% of income)
Read the full study on the CoworkingCafe blog