Economic Profile

Introduction

With a population of over 119,000 (ONS mid-year estimates 2009), Waverley is located in 133 square miles of Southwest Surrey. The Borough is predominantly rural with four principal urban settlements: Godalming, Haslemere, Farnham and Cranleigh.  Over 31% of the land covered by trees, making it the most wooded area in the country. It also boasts an outstanding natural environment with over 80% of the borough being designated as part of the Surrey Hills Area of Outstanding Natural Beauty (AONB) and/or Area of Great Landscape Value (AGLV).

Waverley is an affluent borough with a thriving business community and a diverse and skilled population. It is a sought after place to live offering good quality housing (the average price of a house in 2009 was £373,118 which is significantly higher than the national average of £213,490), first class schools, active communities, good health facilities, a diverse range of leisure and recreational opportunities. The Borough also offers excellent transport links including: fast rail links to London and easy access to Heathrow and Gatwick airports. Waverley's assets and its proximity to London and the Channel make a great part of the country in which to raise a family and to do business.

Business in Waverley

Waverley has the highest business density in Surrey with 58.7 businesses per 1,000 population (Surrey Local Economic Assessment). The Borough's economy is dominated by micro businesses (1-10 employees), which made up 91.0% of the total Borough's businesses in 2005. Small businesses (11-49 employees) accounted for 7.5% of all businesses. This reflects the underlying entrepreneurial strengths of the Borough that is related to the highly qualified and skilled resident population.

Waverley offers a range of premises including business parks and industrial estates, which provide flexible and secure accommodation for both start-up firms and more established, smaller businesses.

Employment in Waverley

Waverley has a buoyant economy with low levels of unemployment. In April 2010, Waverley had an employment rate of 75.1% and 78.5% of its working age population was economically active (55,300 people).  Residents are highly qualified resulting in nearly 40% of Waverley's residents working in managerial and professional jobs (APS 2009). Latest data shows that over 50% of the resident working age population has a degree or diploma qualification (level 4 and above), which is much higher that the Surrey and regional average (39.3% and 32.6% respectively).

Employment in the Borough is dominated by: the banking, insurance and finance sector; the distribution, hotels and restaurants sector; and the public sector. Research shows that about 29% of Waverley businesses rely on a local customer base, which reflects the Borough's important export role.

Further Information

NOMIS, a branch of National Statistics, offers official UK labour market statistics at a national, regional and local level. A labour market summary of Waverley includes all the latest information on population, employment, earnings and business growth. 

Useful Links

• Economic Profile of Surrey
• Surrey Local Economic Assessment
• SEEDA produces a monthly economic dashboard and economic   intelligence snapshot which provide an overview of the South East economy
• Department for Communities and Local Government live tables on housing market and housing prices (data extracted from Land registry)

Page owner: . Last updated: 05/05/2011 22:25