Are People Leaving London For The Coast?

2nd October 2020 posted in Sellers Buyers

There have been many suggestions people are looking to leave London. However, the impact of the stamp duty holiday has led to many people looking at buying a new home in and around London.

With a chance to save up to £15,000, buyers in London are well placed to enjoy the benefits of the stamp duty holiday. The move towards remote working might convince some people it is time to leave the capital, but there will be many people who are keen to move to or move in London.

No matter what your property plans are in or around Hornchurch, you will find Hunters Hornchurch is here to help you. If you are looking to leave the local area, we can help you reach the many buyers who are currently looking for a home in and Hornchurch.

If you would like to arrange a property valuation, contact us today. With a realistic property valuation, you will enter the market with confidence. You will also provide yourself with a platform to make your next move. When you have a budget in place, you will find it easier to find suitable property.

The commute is a big part of daily life

If remote working becomes the new normal as we move forward, there is no denying many people’s lives will be transformed. The study suggests the average length of time spent on the commute in the capital is 42 minutes.

However, 68% of respondents said they would move abroad to live if it was allowed with their job. The most popular destinations were New York, cited by 10% of respondents, Amsterdam, said by 8% of respondents and Auckland, which was also named by 8% of respondents.

Where do people want to move to?

An online letting agent, Mashroom, spoke to tenants looking to leave London. The most popular destination was Brighton & Hove, which was said by 30% of respondents. It is easy to see why a life near the beach would appeal to many people. 19% of respondents said they would be happy to live in a beach house.

Other locations cited by respondents include Cornwall, Devon, Tunbridge Wells and Margate.

Stepan Dobrovolskiy, chief executive at Mashroom, said: “As employers open up to remote working as the new way of life, millions of renters are reconsidering their living conditions. It’s no surprise so many are craving an escape to the coast or countryside, as London’s bright lights have dimmed over the past six months as restaurants, bars, and entertainment venues have been shut or operating at a limited capacity. Our research suggests an influx of Londoners to some of the most idyllic spots in the UK, marking an exodus for the capital. Landlords could be set for a boom in business as more affordable housing makes for a much more enjoyable lifestyle.”

Stepan Dobrovolskiy also said; “London landlords will need to ensure value for money to entice renters to stay. Many landlords are locked into pricey management schemes, where the cost is passed on to the tenants.”

If you are keen to stay in touch with the local housing market, we can help. At Hunters Hornchurch, we are on hand to ensure you receive all the guidance you need in the local property market, and we are here to assist you.