Boomerang effect fuels London house-price surge

Boomerang effect fuels London house-price surge So-called “boomerang buyers” are fuelling London’s soaring property market, estate agents have claimed, as those who moved to the country during the pandemic are now flocking back to the city. Thousands of Londoners are thought to have quit cramped flats and houses in search of more space during lockdown, sending prices in the Home Counties soaring. But the return of commuting three or four days a week, combined with the opening up of theatres and restaurants, has persuaded many to come back. Others who were considering moving to the provinces are now putting their plans on hold as average home prices in London shot up 5.6% in August to an all-time high of £525,893. 

Evening Standard (22/10/2021)