LGC Vendors – Connect With London Leavers

24th September 2020 posted in BUYERS TENANTS

There has been a lot written about many homeowners leaving London. This has arisen because of increased use of remote working, and data provided by Rightmove which indicates many London residents are looking at property outside the capital.

There is no denying the COVID-19 pandemic has significantly impacted buyer behaviour, and what people prioritise when looking for a new home. However, there has been a trend for homeowners to exit the capital for rural settings.

At Country Properties, we have witnessed this for ourselves. We have assisted many buyers, and we know a fair proportion of them have decided that city living is no longer for them. Some train journeys between LGC and the heart of London take less than 40 minutes.

Living here is no barrier to working in the capital. For the people who are happy to commute to ensure they enjoy a better standard of life, Letchworth Garden City has a great deal to offer. Of course, with remote working becoming commonplace, prospective buyers can make the commute less of a priority.

2019 figures indicate people were already leaving London

According to figures provided by the Office for National Statistics, 349,296 people left London in the 12 months to June 2019. At the same time, 255,304 people moved to the capital.

This movement equates to a net loss of 93,922 people from London, which is 258 people leaving London per day. This return is the most significant number of people leaving London since this data has been collected (nine years).

It shouldn’t be a shock to see significant demand for property in the home counties. The straightforward commute, and quieter life appeals to many people. Even if you can enjoy working from home, you will find the open spaces of life here to be more welcoming and palatable.

The most recent figures saw 27,522 people leave the capital and move to Hertfordshire in 2019, which is a record amount of people making this movement.

According to Google Maps, the drive from Letchworth Garden City to the heart of London takes around one hour and 15 minutes. The time taken for the 38-mile journey, going via the A1 (M1) might be shorter thanks to less traffic on the road.

Your money goes further in Letchworth Garden City

According to Zoopla, the average price paid for property in Letchworth Garden City in the past 12 months is £352,504 while for London, the average price paid is £659,985.

It is not as though London is a single entity. There are many different parts to consider, and some are more affordable than LGC. However, you will find Letchworth Garden City provides far greater value for money, and a more enjoyable pace of life.

Currently, in line with Government guidelines, our Letchworth Garden City branch has reopened and is again staffed with sales and lettings personnel. To clients old and new, if you have any queries or need advice on property sales and lettings then please call 01462 481100 or email ian.ellmers@country-properties.co.uk.