According to an article in the Daily Mail based on ONS data, around 336,000 people made the move away from London in 2017, the highest figure in a over a decade.
Unaffordable house prices in the capital are one of the key reasons behind the London Exodus. The Resolution Foundation in a separate report in The Guardian shows that despite the capital’s higher salaries, once housing is deducted, income lags behind the nations average.
The gap between London and other areas can be huge as demonstrated by the Barratt Homes tool, the UK in a Street.
Comparing semi-detached houses;
- London average is £577,000
- North-West average is £161,000
- West-Midland average is £177,000
The London Exodus
Although 336,000 left, 229,000 arrived giving a net exodus of 94,000. Breaking down by age group, over 50,000 under twenties left. Only in the 20 to 29 age group were there more arrivals.
Brighton, the Home Counties and Manchester are among the popular destinations for leavers.