Since 2012, the number of people leaving the capital in order to start a new life somewhere else has risen by over 80% as more than 93,000 Londoners left the city to find their luck in other parts of the country.
A new research was put together by Savills and revealed that the biggest number of those finally saying their farewells to the capital are in their 30s. In total, 68% more people aged between 30 and 39 years have left the city over the last five years.
Another age bracket that’s happy to leave the big city life behind are those aged 50 years and older as the number of departures has increased by 46% over the same period of time.
The only age bracket that saw an increase in new people moving to London were those aged between 20 and 29 years as the number of London-leavers in this group dropped by 9%.
The main reason to leave London behind is – according to the Savills data – unaffordable average house price. Whilst an average home in London currently sets you back £579,836, the price for a property across the rest of the country only comes up to £333,181, and is therefore about £250,000 cheaper.
Where those trying to get away are actually moving to is varied. Whilst some might only move a couple of miles away, therefore close enough to commute into work, otherwise may decide to have a fresh start somewhere further afield.
Some of the country’s key cities, such as Birmingham, Manchester and Leeds can feel this shift as more and more people moving there. The exciting thing about it is that with more people, more opportunities come along, too.
Whether it’s arts and culture, dining, entertainment, transport or purely standard of living, Britain is experiencing a lift as it gains whatever it can from the country’s shifting focus away from the capital and more towards its second cities.