All news

Londoners flee the capital at the highest rate since 2007

03 February 2017  ·  Ordo Capital
Hampton International prepared a research, which stated that Londoners are leaving capital. In 2016 they bought 74 000 houses outside London, that is for 11 000 more than in 2015.

According to The Telegraph it is due the fact, that real estate prices in London grow at much faster rate than Londoners wages, which hits young people very hard. In 2014 20% of Londoners bought their first property outside the capital, in 2016 they were already 40%. In 10 out of 17 local authorities which border the capital more Londoners bought houses than existing residents.

 Most Londoners buy property in the south of England, that is why house prices rose sharply across southern England - by an annual rate of 9.1 per cent in the south and 7.7 per cent in London. This led to a jump in the number of Londoners moving to the north of England, as house hunters look for more value for money and space.

Source: www.telegraph.co.uk

Back to all news