Urgent action is needed to protect and promote traditional street markets in the capital, a new London Assembly report has revealed.
The report - London’s street markets - was put together by the Economic Development, Culture, Sport and Tourism Committee of the London Assembly and paints a mixed picture of street markets in London.
It is the outcome of the first comprehensive survey of its kind of London’s markets, spanning the past 10 years.
The findings reveal that while some markets are flourishing, with 46 farmers’ and specialist markets appearing in the last 10 years, others - many of which have been at the heart of local communities for generations - are in serious decline.
There at least 180 retail markets in London today, according to the report - more than twice what was previously thought and 63 more than 10 years ago.
The main focus of the investigation is the borough-managed retail markets, which account for more than half of the retail markets identified in the survey1.
The report makes a number of recommendations for urgent action, with the Mayor of London taking a central role, along with the Greater London Authority, the London Development Agency, Visit London, and the boroughs themselves.
The Mayor should develop a 100 London Markets strategy - along the lines of his 100 Public Spaces programme - to protect, promote and ensure the sustainability of London’s markets, it said.
Borough-managed street markets are fighting an ongoing battle with dwindling sales, competition from supermarkets and escalating rents.
The investigation shows that 17 markets are smaller now than they were 10 years ago, 15 have been lost altogether, and only seven have expanded.
Dee Doocey AM, chair of the Economic Development, Culture, Sport and Tourism Committee, said: “The face of London’s markets is changing, and while the boom in specialist and farmers’ markets is welcome, action must be taken to protect our traditional street markets too.
“Some of the street markets have been around for centuries - they are the hearts of local communities, and provide economic, social and cultural benefits to London as a whole. It would be a shame to see more of these traditional and accessible hubs lost forever, or completely replaced by a handful of more exclusive and expensive specialist markets.
“This report provides a comprehensive picture of markets in London and makes recommendations that encourages the relevant players, including the Mayor, TfL and the LDA to step up and take action now to secure their future.”
The draft report will be considered for formal agreement by the Economic Development, Culture, Sport and Tourism Committee on February 6.
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