FAMILIES ARE LEAVING THE CAPITAL DUE TO RISE IN VALUATION AND RENT INCREASE
“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.”
Introduction The National Statement of Expectations for Supported Housing (NSE) was finally published on 20 October 2020, five years after the 2015 Comprehensive Spending Review suggested regulatory and oversight changes were needed, although in 2018 the government >>>
Exempt Accommodation, Welfare Reform and Vulnerable Tenants
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