An increasing number of London’s workforce is set to move out to the capital’s suburbs in search of larger and more affordable properties, estate agent Jackson-Stops & Staff has forecast.
According to thetimes.co.uk, commuters currently living in central London are predicted to move to its neighbouring suburbs of Weybridge, Cobham, Oxted and Surrey, which have been dubbed London’s commuter belt.
The combination of improved transport links, more space and good schools has led to Londoners looking outside the capital for a place to live in 2014.
Increasing property prices in the capital during 2013 is also a big reason for residents to look elsewhere, with rental prices set to continue to rise for the foreseeable future. This is due to the city’s geographical position and because it is still perceived to be the economic capital of the world.
David Froggatt of Jackson-Stops & Staff’s Chipping Campden office, told propertywire.com that the vast majority of people looking to move out of London are looking for family homes that are well decorated and built of local stone.
Mr Froggatt said: “A finite supply of such buildings continues to underpin the market and most purchasers are seeing this as a good long term investment as well as a picturesque roof over the family’s heads.”