Where are London leavers looking to buy?
The capital's homeowners haven’t had the housing market on their side in recent years. They’ve had to adapt to higher interest rates and post-pandemic trends, which have shifted against them and suppressed property prices in the capital.
But the Home Counties hold enduring appeal. The lure of rolling countryside, outstanding schools and picture postcard villages set within a stone's throw of the capital. And that's why around three-quarters of Londoners leaving the capital end up putting down new roots here.
Hamptons' branch network is spread across both the capital and Home Counties, meaning it uniquely caters for those looking to leave London. The table below shows where Londoners living in our office network are most likely to move to outside the capital.
Our live buyer database
We expect an uptick in London outmigration numbers as falling mortgage rates provide the capital's property market with a bit of a boost. This could encourage a generation of more recent homeowners who have been restrained for a decade by limited or no price growth in the capital to make their move.
But with mortgage rates likely to remain above historic levels, we expect some of these movers to stretch their search beyond the Home Counties as they look to balance what they want from their home against higher mortgage rates.