Rather than escaping to the country, the majority of those leaving prime areas of London are heading to other suburbs, towns and cities. Just over half (51%) bought a home in a town or suburb, but despite price differences only about a quarter moved to a prime location.
The proportion moving from prime areas of London to buy in other cities has increased from 6% in 2010 to 14% in 2016, and account for 11% of moves so far. Commuter cities remain the most popular choice, with Brighton, St Albans and Bath together accounting for 37% of prime London residents moving to another city. Those leaving London for the South West of England and Wales were most likely to be moving to a country location. Country purchases account for half of all moves to Wales or the South West. Those leaving prime areas of London for prime country locations were selling more expensive London properties – on average £1.2 million, about twice as much as those buying in a prime town or suburb.
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