In 2021, Londoners spend a record £55 billion on properties outside the capital
After the pandemic produced the largest wave of departures from the capital in a generation, Londoners spent a record £54.9 billion on property outside the city in 2021.
According to data provided by real estate firm Hamptons, London home purchasers spent more money outside the capital in 2021 than in any other year since 2007, when £36.6 billion was spent.
The main driver of the shift was a huge increase in remote working, especially at the start of the year when England was engulfed in its third lockdown, prompting many people to flee the capital for commuter towns, where larger homes with gardens are more affordable.
According to Aneisha Beveridge, head of research at Hamptons, the year 2021 "is expected to signal the highest outmigration from London in at least a generation."
"In ...
