Home-owners in London and other major UK cities are leading a continued exodus to smaller towns and settlements, according to reallymoving.com’s Q2 2011 Migration Monitor report.
The study from home-moving services experts, reallymoving.com indicates the south east of England is experiencing the most significant migration of home-owners away from the area and into smaller towns and villages.
The Q2 2011 Migration Monitor reveals a growing number of people are choosing to settle in the south west of England, with Truro and the westerly tip of Cornwall – including Newquay, Falmouth and Camborne – currently the most popular area of the country to move to. The region is experiencing over 50 per cent more people looking to move to the area than move away from it.
Settlers from all corners of London are struggling to retain their residents, particularly in south west and north London where home-owners are generally opting to move out of urban areas.
Rosemary Rogers, director, reallymoving.com said: “The migration out of London continues. London is considered to be holding strong property values in the current market. This leads us to consider that London residents are cashing in on the high value of their homes, and moving into less expensive regions.”
It’s not all doom and gloom for the UK’s major cities, as data for Belfast and Newcastle suggests. The Northern Irish capital and the north east England city are now the ‘stickiest’ regions in the UK – indicating most people who live there choose to stay there.
Rogers added: “It is great to see Newcastle doing so well in retaining its local residents. According to the Land Registry, property values in Newcastle between April – June 2011 increased by over 10.3 per cent which is in great contrast to the nationwide average of -2.8 per cent.”
reallymoving.com is the UK’s leading supplier of quotes for moving services. If you’d like more detailed analysis of the UK’s home-moving trends you can download the full version of the Q2 2011 Migration Monitor, completely free.