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Londoners have spent £ 55bn on homes outside the city

Londoners spent £ 55bn on goods outside the British capital this year when the coronavirus triggered a spate of homelessness, according to a government survey.

The findings of the estate agent Hamptons are helpful greater evidence that the epidemic has changed the popularity of housing, which could lead to economic and social housing problems.

Residents in the capital poured $ 54.9bn into a house outside Greater London in 2021, a significant increase in one calendar year, buying space in travel towns and other areas, according to a survey that used data from HM Revenue & Customs.

Londoners bought about 112,780 homes outside the capital, just the remaining 113,640 purchased in 2007, which was a hot summer year for the real estate market, Hamptons said.

The total amount spent this year broke a record $ 36.6bn in 2007 and rose about 60 percent in 2020 in part due to rising house prices over the past 12 months.

Although a number of incidents have occurred across the country this year, the increase in the number of Londoners shopping outside the capital is particularly significant, according to the survey.

By forcing offices to close or reduce population, Covid-19 has led to an increase in household chores, which are set to continue until the first quarter of 2022 due to the rapid spread of the Omicron coronavirus.

This is one reason why movers are thinking more about the area than they have in the past, says Neal Hudson, director of the house research company Residential Analysts.

“There has been a renovation, and people no longer have to travel as before. This is especially true in London, “he said.

The prospect of having more time to work from home has led home buyers to describe it as a “site competition”, with buyers looking for larger plots of land on flats above downtown.

The Flats have also lost their light due to a post-operative safety net Grenfell tower fire in 2017, which has had a significant impact on housing construction in the last 20 years.

The outbreak was the reason why so many people left the UK headquarters this year, says Aneisha Beveridge, head of research at Hamptons, adding that “2021 should be a sign of mass migration from London for one generation”.

He added: “After this year, we expect the figures to return a bit, especially since house prices outside the capital are expected to continue in London in the next few years.”

But many buyers outside of Greater London remained inside the capital, the study found. About half were purchased in the southeast and a quarter east of England. The tourist towns of Dartford, St Albans and Elmbridge were the most prosperous places, according to the Hamptons.

For the past 30 years, people have been moving away from London since the 30s, starting families and looking for bigger, cheaper places. The population of the city continued to grow during this period due to the departure of EU citizens and births higher than death.

But Hudson and Beveridge also pointed out that, if you do not continue, higher exits and slower relocations after Brexit could delay capital growth.

“If there is a minimum pressure on London’s population growth, this could lower housing prices and rent,” Hudson said.

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