Londoners purchased £30 billion worth of property outside the capital in 2018 according to Hamptons International
In 2018 Londoners purchased £30 billion worth of property outside the capital, this is the highest level since 2007 according to Hamptons International most recent press release.
Hamptons International reveal that the average price of a home bought by a Londoner outside the capital has also risen and now stands at £398,910 – the highest level on record despite house prices in the capital dipping -0.5% year-on-year in 2018.
Commenting Aneisha Beveridge, Head of Research at Hamptons International said:
“Historically most people moving out of London have done so because of changing priorities, such as starting a family or generally wanting a slower pace of life. But increasingly as affordability in the capital is stretched, more households are looking beyond the confines of London to buy their first home. For many this means moving further afield to areas such as the Midlands and North where they can get more for their money.
“Despite a rise in the number of London leavers this year, 2018 is likely to be a peak. A slower housing market in 2019 will likely mean that we see fewer Londoners buying homes outside of the capital than in 2018.”
Read the Hamptons International press release 26th December 2018 in full click here.