more people are moving out of London postcodes than moving in
(PRWEB UK) 1 June 2011
The latest Migration Monitor study conducted by reallymoving.com for Q1 2011 notes the continued migration away from the UK’s major cities, most notably London and the South East. The most popular areas for people moving home are generally outside the South East of England, with Shrewsbury and Torquay the most popular small towns to move to in Q1 2011.
Central London and its surrounding areas are struggling to attract incoming residents with far fewer people moving in than out of the capital. With the average cost of living in Central London considerably greater than more rural areas of the country, the study suggests first time buyers are looking to second-tier cities and suburban locations to get on the property ladder.
Rosemary Rogers, director of reallymoving.com said: “As with last month, we are still seeing home movers leaving the capital in preference of smaller towns and suburban locations. According to London-based estate agents, the moving home market in London is still active.
“However, our research shows that more people are moving out of London postcodes than moving in. This makes us wonder whether there are sufficient first time buyers moving into the lower end of the market to support migration out of the capital.”
Suffolk’s county town of Ipswich is regarded as the ‘stickiest’ region of the UK in Q1 2011, with the most number of people living there choosing to remain in the town when moving house. This may be attributed to cheaper house prices in Suffolk in comparison to parts of Essex and London, allowing people to purchase a home and continue to commute into the City.
The national average of people moving home and choosing to stay in the same town or area in the first quarter of 2011 is 61%. In some areas such as Dorchester, West London and North London less than half of all home movers chose to stay in the same area, with just 38% of home movers in Dorchester remaining in Dorset.
Some of the most active moving regions in the UK during the first quarter of 2011 included Oxford and St Albans, with the latter in particular seeing 73% more moves from or within the town per head of population than the national average. Residents in Belfast and Kilmarnock appear happy to stay put with the least active markets, with the Northern Irish capital reporting 61% fewer moves per head of population than the national average.
reallymoving.com is the UK’s leading supplier of quotes for moving services. Launched in 1999, the site allows homeowners to choose between hundreds of national and local providers for services such as conveyancing, home removals and chartered surveyors. reallymoving.com is an independently and privately financed company. It generated over £70m worth of leads for its partners in 2007.
For further media enquiries contact Rosemary Rogers, Director, reallymoving.com 01727 238010.