Almost 74,000 Londoners Moved out of Capital During Pandemic

LONDON has seen its highest exodus of residents in four years, with around 73,950 homes bought outside the capital by former Londoners during the pandemic.

According to research conducted by the property company Hamptons, 71,950 London residents bought homes outside the city in 2020. This marks the biggest exodus from the capital since 2016, with the high number attributed to the pandemic and the rise in remote working.

The average buyer spent £372,860 on their new home, and the average distance moved away from London was 40 miles. The most popular locations for out-of-town buyers are, in order: Sevenoaks, Windsor, Maidenhead, Oxford, Rushmoor, Eastbourne, Wokingham, Stevenage, Luton, Epsom, Brighton, Gravesham, and Watford.

Aneisha Beveridge, head of research at Hamptons, said: “Despite Covid-19 closing the housing market for seven weeks, the number of homes bought by Londoners outside the capital has risen to the highest level in four years.

“While leaving London has been a rite of passage for many – often families reaching life stage milestones – the effects of lockdown and the desire for space seems to have heightened this drift.” She added that she expects to see 2016 levels of out-of-town moves in 2021.

Thank you for taking the time to read this news article “Almost 74,000 Londoners Moved out of Capital During Pandemic”. For more UK daily news, Spanish daily news and Global news stories, visit the Euro Weekly News home page.