FAMILIES ARE LEAVING THE CAPITAL DUE TO RISE IN VALUATION AND RENT INCREASE
- 28 Sep
"Families are leaving the capital as valuations rise 37% in three years and rents surge 10%", The Week reports
The following are figures and reasons why families are moving out of London:
- According to official immigration data, over 30,140 more people in their thirties left London than moved in last year
- The above is up by around half from 20,590 - three years ago
- Analysis of Land Registry data by campaign group Generation Rent shows the average sale valuation in the capital during that time was £410,455, a rise of 37% in three years.
- The average house price across the rest of the UK increased by 17%
- The Guardian reports that rents have increased over that period, a 10% increase in London compared to 4% elsewhere
- Research from Lloyds Bank found that by moving to towns within a one-hour train journey outside the capital, homebuyers can save £450,000- the equivalent of 89 years times the average annual travel cost
Generation Rent director, Betsy Dillner, said:
"London is an incredible city and the decision to move away isn't taken lightly. These people are leaving friends and family in order to find a home they can afford and some are leaving their jobs.
"This should worry everyone in London, from employers facing a loss of skills to communities losing valued neighbours - and particularly (London Mayor) Sadiq Khan, whose housing policies will need to stop this exodus."
What do you think?
Please tweet comments @suppsolutions
For more details, visit The Week
Related articles
- 02 Nov
THE ONS PLANS TO CHANGE THEIR DECISION TO MAKE HOUSING ASSOCIATIONS PUBLIC BODIES
According to reports by 24 Housing, the ONS said the following:Gavin Smart, Chartered Institute of Housing's deputy chief executive also said:"Although we have been expecting this decision for some...
- 30 Aug
RECENT ANALYSIS FINDS THAT THE HELP TO BUY SCHEME HAS ADDED TO THE INFLATION OF HOUSE PRICES
The analysis of the Help to Buy Scheme revealed the following:The chief executive of Paradigm Housing Group, Matthew Bailes, said:" ... clearly, it worked well for developers, and for providers, it...
- 22 Aug
A NORTH WALES COUNCIL REVEALED THEIR WAITING LIST FOR NEW HOMES HAS REACHED BREAKING POINT
The north Wales Council revealed their waiting list for new homes has reached "breaking point".According to Clare Budden, Flintshire Council's community enterprise chief officer said:"There are...
- 17 Aug
HOMELESSNESS POLICY IS UNDER REVIEW IN A NORTHAMPTONSHIRE COUNCIL
Kettering Borough Council has amended its letters to homeless residents to let them know of their right to request a temporary accommodation review.According to an ombudsman, Michael King:"People in...
- 15 Aug
FINANCIAL CONSTRAINTS HAVE CAUSED THE CLOSURE OF MANY CHILDREN AND YOUTH CENTRES
Local Government Association (LGA) made the following findings:Chair of the LGA's children and young people board, Richard Watts, said: "The reality is that services for the care and protection of...
- 11 Aug
RESIDENTS OF BUILDINGS IN LEDBURY ESTATE, SOUTHWARK, SOUTH LONDON WILL BE MOVED OUT TEMPORARILY
The buildings in Ledbury Estate in Southwark have been constructed in a similar way to Ronan Point, a tower block in Newham which collapsed in 1968 as a result of a gas explosion, killing three. An...
- 10 Aug
THERE IS A DECLINE IN THE HOUSING MARKET IN LONDON AND OTHER PARTS OF THE SOUTH EAST OF ENGLAND
The Royal Institution of Chartered Surveyors (Rics) made the following findings:Chief Economist at Rics, Simon Rubinsohn:"Sales activity in the housing market has been slipping in the recent month...
- 07 Aug
REPORT FINDS THAT PEOPLE ARE INTENSELY SUFFERING FROM LACK OF AFFORDABLE HOMES IN SCOTLAND
According to the report by "Shelter":Shelter's deputy director, Alison Watson, said:"This report shows the disproportionate impact of Scotland's housing crisis on young people and private renters who...
- 02 Aug
NEW REPORT BY THE PUBLIC ACCOUNT COMMITTEE IN WALES COMMENDS HOUSING ASSOCIATIONS
The report which was put together after nine months of inquiries stated the following:Nick Ramsey, Chair of the Public Accounts Committee, said:"Generally, we found governance and regulation within...
- 31 Jul
LONDON COUNCIL URGES THE GOVERNMENT TO MAKE MEASURES TO END LETTING FEES FOR PRIVATE RENTERS
The London council say urgent action is needed because the government has not provided "a clear timescale to introduce its own measure", Letting Agent Today, reports.Last year, the government had...
How to Fund Housing Support and Social Care Services Good clear delivery of some complicated information. Jaqui Smith - Young Womens Housing Project
