What people want from their homes and local areas has shifted and for the majority of buyers, this shift will be permanent. A new survey conducted by PricewaterhouseCoopers (PwC) suggests that the UK housing market could “rebalance” as a result of changing trends. One of the key takeaways from the report suggests a high number of people are considering leaving London. More than a third (34%) of 45-64 years olds living in the capital “expect to move to a different region outside of London the next time they move”. The lockdown has heightened the need for many people to have more space, and this is particularly important to the older generation living in London.
According to PwC, the trend of moving away from London is on the up. In the over 45 bracket a third of Londoners expect to move to a different region. However, most of those in the 25-44 bracket who are renting in the capital anticipate their next move could be sooner, out of the capital and out of rented accommodation.
If you want to take advantage of the new wave of buyers looking to escape London, call Barton and Co today to get a free, no obligation valuation on your property.