Record number of Londoners heading north

There was a time when Londoners regarded anywhere north of Watford Gap as the back of beyond. Not any longer, with many heading north for the job opportunities and affordable lifestyle on offer.

The number of Londoners leaving the capital to buy homes in the regions has increased by close to 80% over the last decade, with young professionals at the forefront.

New research from Hamptons International has highlighted the growing trend and shows how the country’s housing market continues to rebalance.

According to their numbers, 73,000 people living in the capital chose to buy property elsewhere in 2019, which is up from 63,000 from five years ago and around 41,000 in 2009.

Not only are there more leavers than ever, they are getting younger. A decade ago, the average age of a Londoner purchasing outside was 47. Now it's down to 39.

A significant number - around 70% - chose to stay in the south and east, with half of those heading for the commuter belt. However, London leavers are increasingly looking further afield, with 13% choosing to move to northern England. The Midlands is also attracting considerable interest, with 15% of the capital's leavers compared to just 1% ten years ago.

All of the country's regions are facing housing pressures and the migration out of London is adding to the demand side of the equation in cities such as Manchester, Birmingham and Leeds.