Londoners selling up to move north
Record numbers of London homeowners are selling up to buy cheaper property in the north and Midlands, using profits made in the capital to splurge on bigger homes.
Research by agents Hamptons International found the proportion of Londoners leaving the capital for northern England or the Midlands had tripled since 2010.
The average Londoner quitting the capital pays £424,610 for their new property, enough to buy a large detached house in a good suburb of Birmingham but which only pays for a two-bed flat above a shop in east London.
Aneisha Beveridge, research analyst at Hamptons, said: With affordability stretched, more Londoners are moving out of the capital to find their new home.
Many London leavers were looking for a bigger home or better local schools, Hampton...