Why Lots Of Londoners Are Packing Up And Leaving London

Georgie Hoole Georgie Hoole - EXECUTIVE EDITOR

Why Lots Of Londoners Are Packing Up And Leaving London

According to the latest figures from the Office of National Statistics (ONS), we appear to be losing a significant number of residents to internal migration. Young families and thirty-somethings are the most likely to swap the big city life (anyone else singing that Mattafix song? Nope, just me?) for more affordable locations. According to research, 65,890 thirty-somethings left the capital, while only 35,480 moved in. This means a net outflow of 30,140 which, compared to the net outflow of 20,590 three years ago, is a pretty hefty figure. 

Of these thirty-somethings, it appears that 64% are moving into the South East and East of the commuter belt, while the rest are heading north to the likes of Northamptonshire and Cambridgeshire, and often venturing even further (brave souls). 

You might be wondering why on Earth you’d swap Central London for Northamptonshire, but when you look at the house prices it might make a bit more sense. If you move even a mere hour out of the city then you could save up to *takes a deep breath* £450,000 (!!!) on the price of a house. According to research, the most affordable commuter town is Wellingborough, where the average house costs £294,903. Compare that to £741,919 for a property in London and you may stop questioning people’s decision to decamp. It means that, even if you’re spending 5k a year on travel costs, you’re still up on the deal if you pack up and move beyond the tube network. Yikes…

Feature Image: The Marmelade Gypsy

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