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More Londoners leave the capital for cheaper homes
| Author: Craig Bees | Published: 21st January 2020 10:49 |
High housing costs are forcing Londoners out of the capital
A recent report says that an increasing number of young Londoners are moving out of the capital to buy a home in the north – which means they are heading our way.
The most up to date figures are quite staggering, with more than 50% on the number heading north in 2016 and thirteen times as many as in 2009. The age Londoners quit the capital has also come down, as even people in their 30s struggle to buy a decent home.
Historically most homeowners leaving London did so for lifestyle reasons and to take advantage of being able to buy a larger home but, for others, leaving London is now the only way of getting onto the housing ladder.
The average age of someone leaving the capital to purchase a home has fallen to its lowest level on record - just 39 years old, which is considerably down from the age of 47 ten years ago.
And the reason is simple because for many first-time buyers, moving further afield to areas such as the Midlands and North means they can get more value for their money.
Overall, the report estimates that London leavers bought 73,000 homes outside the capital last year, far higher than the 41,090 homes bought outside the capital by people in London in 2009. The average London leaver spent £358,650 on their home outside the capital.
And don’t forget, Bartram&Co are the only local members of the Guild of Property Professionals. With our central London office in Park Lane and marketing targeted at commuter buyers, now is the best time to get your property on the market and make the most of our national marketing and the London commuter connection.
What’s your view on this? Have expensive London house prices made you and your family move out of London? Drop me an e-mail at craigbees@bartramandco.co.uk be great to hear your views.
Help to Buy Scheme: still available on all Moat Lane development properties in Towcester with part exchange also considered. Contact us on (01327) 359164.
Badby & Farthingstone CC News
Cricket Club dairy date: the club’s AGM is on Sunday 16th February 2020 (8pm) at the Maltsters pub in Badby. All members and supporters are welcome. Agenda to include re-election of committee members and plans for the new season ahead including tour arrangements. Looking forward to seeing everyone there.
Monthly draw: make sure you enter January’s draw for your chance to win a case of Italian wines (red/whites/mixed) or a one month’s membership at Whittlebury Hall Leisure Club.
How To Enter: every valuation and instruction for sale or rental between now and next Wednesday (January 29 2020) will be entered into the draw, the winners being notified by e-mail.
If you’re thinking of selling or letting your property and want to win one of these great prizes on offer call (01327) 359164 and speak to our sales or lettings team.
Until next time.
Craig Bees, MD Bartram & Co
E-mail me at craigbees@bartramandco.co.uk
Visit our website www.bartramandco.co.uk and follow us on Twitter@bartramandcotow
Tel: (01327) 359164
Fax: (01327) 359166
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