Where do people move to when they leave London?
The figures show that the South East and West are the biggest draw, with half of the 250,000 Londoners leaving the capital in 2012 relocating to these regions. Overall:
* people aged between 19 and 25 are most likely to move to the capital, a figure driven by students moving into London and young professionals moving in to work.
* the 30 to 40 year age group is most likely to move out, making up 27% of all moves out of London – the average age of moving out 32 years old
* delondonisation is becoming more popular among 25 to 44 year olds – in 2012, there were 106,000 movers in this age bracket, the highest number since 2007 and 10,000 more than in 2011.
Hamptons also looked at how far people are likely to move when buying a home. People moving into London move, on average, 34 miles, while those making the reverse journey average 26 miles. Londoners relocating within the city move less than 1.3 miles on average. The average distance home buyers move in England and Wales is 2.5 miles, although 14% move more than 50 miles.
Of the 250,000 Londoners who left last year, Birmingham was the most popular destination, closely followed by Brighton and Hove, Elmbridge in Surrey and Epping Forest in Essex. Thurrock took the fifth spot.
Johnny Morris, Head of Research at Hamptons International, said: “It is part of the natural life cycle of the capital that households will move out as their priorities change. Many of those leaving London are in their 30s and 40s, in search of more space and a different lifestyle. Interestingly, those choosing to move within the capital typically pick a new home just 1.3 miles away. While this doesn’t sound very far at all, a mile can be worth a lot in London – the difference between St John’s Wood and Kilburn, Chiswick and Acton or Balham and Tooting.”
Are one in three ‘accidental landlords’ breaking the law?
A third of ‘accidental landlords’ – those who did not originally buy with the intention of renting out their property or who are forced to rent because they cannot sell – are not fulfilling their legal duties to maintain their rental properties and as a result are putting their tenants in potential danger and themselves at financial risk, says AXA Business Insurance.
For example, its research shows that a third of those questioned get their boilers checked less than once a year, and 23% only check every three years or less – legally, a check is required every year. The figures are similar for gas appliances, also a yearly legal requirement. Electrics and chimneys are also being left far longer without attention than recommended by national industry bodeis.
Darrell Sansom, managing director of AXA Business Insurance said: “It seems that many accidental landlords are not really aware of the responsibilities that come with the role, leaving themselves and their tenants extremely vulnerable. Things like gas and electrics are potential killers and need to be taken seriously.”
Pictured is a 2 bedroom flat for sale for £399,950 in Trinity Road, Tooting SW17, on with Kinleigh Folkard & HaywardTagged in: accidental landlord, landlord, london
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