Buyers moving out of London

Twenty thousand Britons are leaving London every month, figures from the Office of National Statistics (ONS) have revealed, with house prices seemingly being both thanked and blamed by former Londoners.

Those moving away from the city are largely doing so because they have either taken advantage of rising house prices to cash in on their property, or because such increases have meant that they are unable to get onto the housing ladder in the first place, the Evening Standard has suggested.

In total, 243,700 residents left between in the 12 months to June of last year, the ONS has reported.

"We have seen a very active housing market and some people are moving out to take advantage of the rising prices. London has always been a huge magnet for people and jobs but people are moving about," commented National Statistician Karen Dunnell, according to the paper.

The average house price in London now stands above the £250,000 stamp duty threshold, Halifax recently reported, though earlier this week Rightmove asserted that prices in the capital actually fell by 0.1 per cent in August.


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