Return to office and subdued price growth dampen leavers’ momentum
The number of Londoners relocating outside the capital has dropped to its lowest point since 2013, according to Hamptons’ analysis of Countrywide data.
In the first seven months of 2025, London residents accounted for 5.3% of home purchases outside the city, a decrease from the 8.2% peak seen in 2022 during the height of pandemic-driven moves. This proportion is also below the pre-pandemic average of 5.9% recorded between 2010 and 2020.
The reduction in outmigration is attributed in part to a return to office-based work, which has lessened the appeal of moving further from the capital.
A slower housing market in London has also limited the ability of homeowners to move, as rising prices elsewhere have outpaced those in the capital.
Over the past five years, property prices outside London have increased by 26%, compared to an 8% rise within the capital. Over a decade, prices outside London have climbed by 55%, while Greater London has seen a 23% increase.
Between January and July 2025, Londoners purchased 31,620 homes outside the capital in England and Wales. While this figure is 7% higher than the same period last year, reflecting a broader recovery in transaction volumes across Great Britain, it remains half the level seen in 2021, when 63,600 homes were bought by Londoners outside the city.
Current outmigration levels are now similar to those seen before the pandemic, during a period when the London market was subdued following the financial crisis. Most movers continue to come from Outer London (70%), but Inner London residents now make up 30% of those leaving, up from 25% a decade ago. This shift is linked to weaker price growth in central areas, which has made it more difficult for homeowners to move locally, especially as borrowing costs remain elevated.
The decline in outmigration is closely connected to the capital’s housing market performance. In many parts of London, particularly central districts, prices have stagnated or fallen, reducing equity gains and the incentive to move. Meanwhile, continued price growth outside London has narrowed the financial advantage for those seeking more space elsewhere.
Inner London leavers have spent an average of £417,660 on homes outside the capital so far this year, 25% more than in 2015. Those leaving Outer London, where prices have been more resilient, spent 34% more than a decade ago.
Despite these challenges, Londoners moving out still gain additional space. A typical Inner London household selling for £655,580 this year could more than double their property size, gaining 1,178 extra square feet. However, this is 32% less than the space gain possible in 2016, when spatial purchasing power was at its peak. Compared to 2016, the average Inner London property now secures 553 fewer square feet outside the capital.
For Outer London movers, the reduction in extra space has been less marked. The average household selling for £509,800 this year could increase their space by 55%, down from 72% in 2016. This is largely because price trends in Outer London have more closely followed those outside the capital.
Historically, Inner London leavers have tended to move further afield than those from Outer London, often beyond the South East and East of England. In 2021, 37% of Inner London movers bought homes outside these regions, compared to 28% of Outer London movers. Popular destinations included Cornwall, Bournemouth and Poole, and the Cotswolds.
This year, however, the pattern has shifted. Inner London leavers are now just as likely as those from Outer London to remain within the South East or East of England, with 31% moving beyond these areas. This suggests that affordability has become a more significant factor in relocation decisions, with many Inner London homeowners prioritising value and proximity to the capital.
The changing migration patterns are also evident in the locations where Londoners are buying. In 2025, Londoners made up over half of buyers in only five local authorities, compared to seven in both 2015 and 2020. While Dartford, Epping Forest, and Tandridge remain popular, more affordable areas such as Thurrock, Hertsmere, and Basildon have become more prominent, indicating a shift towards value over prestige.
For mortgage brokers, the findings of this data analysis mean fewer clients seeking loans for moves outside London and a greater focus on products tailored to buyers prioritising affordability and commutability. Brokers may also see increased demand for remortgages or home improvement loans as more Londoners opt to stay put rather than relocate.
“London’s housing market has been treading water for much of the last decade, and that’s now shaping migration patterns,” said Aneisha Beveridge (pictured right), head of research at Hamptons.
“The return to the office has played a role in curbing the appetite for long-distance moves, but it’s the lack of price growth in the capital that’s really clipped the wings of would-be leavers. Many London homeowners simply haven’t built up enough equity to make the leap to where they want to go, especially as prices outside the capital have continued to climb. The result is fewer moves, shorter distances, and a growing focus on affordability over aspiration.
“We’re seeing a clear shift in where Londoners are heading. The pandemic pushed buyers into leafier, more lifestyle-driven locations, but today’s movers are more pragmatic. Places like Dartford and Thurrock are topping the list—not just because they’re commutable, but because they offer better value, particularly for first-time buyers.
“Even Inner London leavers, who once ventured far and wide, are now staying closer to the capital. In a sign of the times, the dream of doubling your space still exists, but it’s no longer a given. Buyers are having to compromise, and that’s reshaping the map of London outmigration.”
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