16
Jul
First timers moving out of London to buy homes
People looking to buy their first house and get a foot on the
property ladder are increasingly moving away from the isolated
market that is central London to find affordable properties.
While prices in other regions of the UK have been static for a long
time, London prices have continued to perform well.
When this is coupled with a shortage in the housing stock in the
capital, one expert said that many young people are moving away
from the area.
Robert Dibb, spokesman for FirstRungNow.com, said: "We are already
finding first-time buyers in London are now looking more to the
south-east of London.
"They are considering increasing the time and cost of their commute
as it's cheaper to do this than pay more central prices."
He also said that an increased number of trains into London means
that this is a trend likely to continue in the coming months with
people seeing the huge benefits of moving away from the centre of
the capital financially.