New research from Halifax showed that the South East was the most popular region for people to move to between 1996 and 2006 with 2.5m arrivals from elsewhere in the UK.

However, the South East also recorded the second highest number of people leaving to live in another UK region. Overall, the South East experienced a net gain from internal migration of 384,000; the second biggest of the 12 UK regions.

The South West experienced the largest net gain from internal migration during the past decade. Over 440,000 more people have moved to the South West from elsewhere in the UK, boosting the region’s population by 9%.

Although the population of London is still growing, nearly 2.4m have left the capital to live elsewhere in the UK since 1996. As a result, London recorded, by a significant margin, the greatest net loss from internal migration (608,000) by any region. But London recorded the single biggest population increase over the past decade. The decline due to internal migration, however, was more offset by the arrival of 1m people to London from abroad over the past decade. Overall, London’s population has risen by 583,000 over the last 10 years. This was the biggest increase of any region.

The only region that saw an overall population decline between 1996 and 2006 was the North East with a decrease of 20,000.

The substantial net gain from internal migration has been a significant factor behind the rapid rise in house prices in the South West over the last 10 years. The average price in the South West has increased by 206% during this period, a rate that is surpassed only by Northern Ireland and London.

Martin Ellis, Halifax chief economist, said: “The South East and South West have been the most popular destinations for people to move to from elsewhere in the UK over the past decade. In particular, the high level of migration to the South West has contributed to the rapid rise in house prices in the region in the last 10 years.

“Figures at a local authority level highlight the transient nature of the population in many of the UK’s major cities. Birmingham, for example, recorded both the highest level of immigration and emigration in England and Wales.”