During the first six months of this year, Londoners purchased 61,830 homes outside the capital, according to Hamptons, which is the highest half-year figure since it began keeping records in 2006.
So far this year Londoners made up 8.6% of all buyers outside the capital, the highest proportion on record and up from 6.6% in 2020. The rise in flexible working combined with affordability barriers meant that first-time buyers made up a quarter of Londoners buying outside the capital.
The average Londoner buying outside the capital purchased 34.6 miles away, 12% or 3.6 miles further than before the pandemic in 2019.
Commenting, Aneisha Beveridge, head of research at Hamptons, said: “Pandemic-fuelled city outmigration shows no signs of slowing. Despite lockdowns easing and offices and restaurants reopening, Londoners have continued to re-evaluate where they want to live, with many bringing future-planned moves forward. While London now attracts more buyers from outside the capital than pre-pandemic, the numbers are still low relative to those leaving, meaning London’s population is likely to fall this year.
“Much of the uplift in Londoners looking outside the M25 over the last year has come from those buying their first home. This has been largely driven by affordability and flexible working patterns that have enabled people to work from home. The capital’s loss has been the Home Counties gain.”