Londoners on the move

26th September 2014

New research by Hamptons International reveals that Londoners leaving the capital have spent £17bn on new houses over the past year.

Johnny Morris, head of research at Hamptons, said: "The money spent by Londoners looking for a home outside of the capital has certainly been driving house price growth and activity in the commuter belt." He added that this will be the key driver of markets within commutable distance of London in the coming months. The research shows that around 35,000 homes have been bought by Londoners outside the capital so far this year with an average price of £385,000 compared to £335,000 in 2013.
The Times (22/09/14)