Property News · June 7, 2014

The house price windfall that is seeing Londoners cash in and move out


With house prices rising in the capital by £4,500 a week, we speak to the families who have swapped postage-sized properties for spacious homes in the countrysideThere’s an exodus afoot in London, as growing numbers of homeowners cash in on the capital’s sky-high property prices.Each month, thousands of Londoners are selling up and flocking to towns and the countryside beyond the M25. Many are trading shoebox-sized flats or tiny terraces with postage-stamp lawns for substantial family homes with bigger gardens – and, hopefully, a better quality of life. Some are managing to reduce their mortgage at the same time, too.This week, property company Hamptons International issued research showing that during the past 12 months Londoners have bought 44,000 properties worth a total of £15bn outside the capital – the highest level in terms of both volume and value since 2007. Continue reading…

Source : theguardian.com
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