More Londoners moving out of capital to search for new home according to Hamptons International

New figures recently published by Hamptons International show that there were 61% more Londoners leaving the capital and buying homes elsewhere in the first half of this year than at the same period 10 years ago. The number of Londoners who bought homes outside the capital rose to 30,280 in H1 2018, a 16% rise following last year’s dip.  In H1 2017 a total of 26,180 Londoners moved out of the capital, down from 32,360 in H1 2016.

Hamptons International reveal that in the first half of 2018 Londoners bought over 30,000 homes outside the capital, 16% more than the same period last year and 61% more than in H1 2008.

Since 2010 the proportion of Londoners leaving the capital for Northern England or the Midlands has tripled, the average price of a home bought by a Londoner leaving the capital rose to £424,610, the highest on record.  The figures also reveal that 31% of first-time buyers living in London bought outside the capital, down 2% on H1 2016.

Commenting Aneisha Beveridge, Research Analyst at Hamptons International, said:

“With affordability stretched, more Londoners are moving out of the capital to find their new home.  The proportion of London leavers heading North has tripled in the last 10 years.  More people are making a bigger move and buying a larger home sooner to avoid having to pay stamp duty on additional moves as they trade up.  But for many, this means heading further North.

“However, more first-time buyers are staying in the capital to purchase their first home than last year.  The savings from stamp duty relief and the availability of Help to Buy has meant that more first-time buyers are able to remain in London than before.  But raising a deposit remains a hurdle for many, which helps explain why increasing numbers of first-time buyers who leave London are heading North.”

Read the recent news release from Hamptons International in full click here.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Breaking Property News – 28/03/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   tlyfe the tenant App gets huge marketing boost from national team tour from the Openbrix team As many will know tlyfe, powered by OpenBrix, is the UK’s most innovative tenant lifecycle app, taking the stress out of the move in process and helping to…
Read More
Breaking News

Over Four Out Of Five Tenants Unaware Of The Renters Reform Bill

OVER four out of five tenants remain unaware of the Renters (Reform) Bill and its contents, according to new research. The data comes from a representative survey of over 2,000 private renters conducted by the TDS Charitable Foundation, which works to advance education about housing rights and obligations in the private rented sector. The Bill…
Read More
Estate Agent Talk

What is Property Damage in a Personal Injury Case?

Property damage refers to any damage that affects things instead of a person. This might include damage to your car, house, etc. As such, it is not regarded as a personal injury case. However, when an individual is injured when the accident occurs, the affected person can file a personal injury claim. A typical example…
Read More
Love or Hate Rightmove
Breaking News

Rightmove comment on new 99% first-time buyer mortgage product

Matt Smith, Rightmove’s mortgage expert said: “It’s encouraging to see lenders continuing to try to innovate in the mortgage market, even after the government abandoned its own plans to encourage lower deposit mortgages in the Spring Budget. This new product has the potential to help some first-time buyers who fit the affordability criteria, but are struggling…
Read More
Breaking News

Breaking Property News – 27/03/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Coadjute ahead of the game as they are already licensed to provide digital TA6 Forms to property stakeholders This week, the Law Society announced its TA6 Form will now include Material Information as per the the National Trading Standards Estate and Letting Agency Team…
Read More
Breaking News

Breaking Property News – 26/03/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Sharing Success: The Guild Conference and Awards celebrate Member achievements The QEII Centre in Westminster, London, was abuzz with excitement on Friday, 22 March 2024, as The Guild of Property Professionals hosted its highly anticipated annual Guild Conference and Awards. Under the theme ‘Sharing…
Read More