COVID19 - London sees biggest exodus since Brexit was announced

In the wake of the coronavirus pandemic, residents of London are leaving the capital city in droves, For the outlying commuter belt areas according to reports from Hamptons estate agents and property developers Clearview Developments.

COVID19 – London sees biggest exodus since Brexit was announced: Research shows that 73,950 moved out of the city in 2020. Which was the largest figure for 4 years. In line with this, Kent and Surrey saw the largest influx of people moving in to their areas. In 2016, when the UK voted to leave the European Union, thousands of people decided to sell up in the capital. With panicked buyers trying to re-negotiate prices or pulling out of deals altogether.

Clearview Developments announced on Tuesday that 50% of their new development, Bargate House in Guidlford, had already sold. With a further 25% having offers received, leaving just one unit left to sell. Jason Tema, director of Clearview, said. “The demand for our Guildford project has been overwhelming. Although we have always witnessed a high demand from house hunters, we can see that the market has become extremely competitive. Due to an increasing number of city dwellers looking to relocate.”

Adding to this information, one of the nation’s biggest estate agents, Rightmove, said that people looking to move from the city to rural locations had risen by 144%. The new restrictions announced by Government on Monday are highly likely to make home owners continue to look outside of London for a place to live.  Global247News Twitter

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