Londoners moving out in their droves
The number of households moving out from London has significantly increased over the past 12 months and is mainly attributed to the high property prices in London. Homeowners are cashing in on the high prices of small flats in London in exchange for a detached home in other parts of the south-east. Overall homeowners moving out of London purchased 58,000 homes outside of the capital worth £21bn.
This is a big increase of of 50% above normal levels and has without doubt increased demand for homes across the south-east. The main reason for moving was relocating but much of this must have been triggered by the latest house price increases across the Capital. Many Londoners were able to swap a two bedroomed flat for a 4 bed detached home in some very nice parts of Surrey
Top of the list for Londoners was Esher in Surrey which is within the commuter belt for people working in the capital. Brentwood and Rickmansworth were also very popular destinations for Londoners who need to be with commuting distance of London. Many households in London have seen prices increase so dramatically that the gap between London and the rest of the UK have widened to £280,000. Coupled with the fact that the future forecast for house price rises is less certain in London many homeowners have decided to move whilst prices are anther current levels.