As a result of the coronavirus pandemic, many organisations have adapted to make working from home more manageable for staff. This has led to people asking whether leaving London might represent a better deal for their family. In our guest blog, Gabriella Farrow of Hamptons, assesses this new trend of outward migration among the capital's families.
25 March 2021
For the past year the UK’s been adjusting to a ‘new normal’, and we’ve all discovered some important lockdown lessons along the way.
One of the biggest things that many have been reassessing across the last 12 months is how and where they choose to live. Over the last year bigger gardens, space for an office and rural locations have been top of Hampton’s clients’ priorities when looking for a new home.
With home working being a permanent reality for many, the need to live in a location that is easily commutable to London has diminished and instead been replaced by the need for more space in order to accommodate home offices, gyms, playrooms and much more.
Another key factor in many families’ decision to move is for a more community focused area, with smaller classroom sizes and a less urban lifestyle proving a popular trend. Securing a school place in London, whether state or private, is an incredibly competitive process, and one peppered with potential pitfalls, therefore many families are instead opting for a more laid back way of life in the Countryside.
London leavers hit a record high in 2020 with over 73,950 moving out of the capital. The average London Leaver spent £372,860, which equates to a collective total of £27.6 billion, the highest figures seen since 2007. The average distance moved by London Leavers buying outside the capital has also hit 40 miles for the first time in a decade, up from just 28 miles during the first 3 months of 2020. The areas topping the scales with their proportion of London Leavers include Sevenoaks, Windsor, Maidenhead and Oxford. For more information on moving out of London, sign up to The Hamptons Town to Country Roadshow webinar in partnership with The Good Schools Guide taking place on the 27th April 2021.
For More Property Market information please visit https://www.hamptons.co.uk/research/
All Data sourced here
Gabriella Farrow is the marketing manager at Hamptons, a leading residential estate agent and property services company, operating in London and the South of the UK.
Hamptons offers a wealth of award-winning services including UK and international Sales, Lettings, Property Management, Corporate Services, Residential Development, Development Land, Valuation Property Finance, and is a subsidiary of Countrywide, the UK’s largest estate agency and property services group.