Londoners Being Priced Out Earlier Than Ever – But Where Do They Go?
It’s not new news that buyers are being pushed out of London because of the high cost of buying there.
However, this week it was revealed that the age Londoners are leaving is now the youngest ever. The average age of a Londoner buying outside of the city in 2019 was 39, eight years younger than the 2009 age.
24% of those leaving London to buy were first time buyers.
So where are they going?
According to Homes & Property, the top choice is the Hertfordshire commuter town of Broxbourne where 76% of purchases last year were made by Londoners.
The Homes & Property report demonstrated that buyers could buy a 2 bedroom cottage near the station in Broxbourne for the price of a 1 bedroom flat near Streatham Common.