The trend - London’s exodus

Job opportunities are rife, especially compared to many other parts of the country, and as always, there is a diverse mix of students, young professionals, families and older individuals filling the flats, homes and share houses across the city’s nine zones. In total, 13% of the UK population is based in London, so we cannot deny that people of all backgrounds and life stages do want to live there - and will continue to find ways to do so.

However, the recent stats do show us that London, more than ever, is starting to home particular demographic groups over others. The past decade has seen about 550,000 more Britons leave London, opposed to those who move to it. Among those packing their bags for greener (or smaller) pastures, in the majority, are individuals aged in their 30s and early 40s. Parents to young children. Families. Of course, those also leaving the capital at a rapid rate include young children, aged around four or under (with their families, we can safely presume!).

Meanwhile, the biggest group of individuals moving to London are those in their early 20s, eager to cash in on the career and job opportunities the capital has to offer. Likely, they’ll stay for around a decade before seeking more affordable living arrangements elsewhere.

It’s a trend that is not unique to London - many big US cities such as New York, LA and Chicago have witnessed the same influx of bright, hopeful 20-somethings, before losing them in their 30s to smaller cities, suburbia or rural areas.

Where are families moving to?

All over. While many parents of young children want to remain within commuting distance to London and opt for Surrey and other regions within a 90-minute train journey of the capital, others are making even bigger moves to the likes of Newcastle or Birmingham. Last year, MoneySuperMarket named Bath as the most family-friendly city in the UK, whereas North West England’s Lancashire country is among the most affordable areas to purchase a home.

The simple answer seems to be - anywhere but central London!

What do families want?

According to a survey by OneFamily, more than 450 parents said the most important factors for them in choosing an area to live included:

• Low crime levels (90%)
• Excellent school performance (85%)
• Transport links (72%)
• House prices (69%)
• Employment rates (57%)
• Childcare costs (47%)

It’s not difficult then to understand why many young families are choosing to leave LDN!

Leaving London - is it a problem?

Yes and no.

One might argue that the trend London is experiencing right now is completely natural - of course, young people flock to big cities in their 20s but eventually the allure of a quieter family life sends them packing back to somewhere more humble. It’s normal and we’re always going to see this pattern in the property market.

However, the fact that more people are leaving than arriving in London, and the increase we’ve seen in these figures over the past decade, isn’t something we can ignore.

Average families clearly can’t afford, or don’t want (for a number of reasons - air quality, the accessibility of good schools, crime levels, and so forth), to live in our country’s main city, despite the jobs and opportunities that remain there. Is it really right that only 20-year-olds or the uber rich can live in London? Think of all the talent and experience our city will be missing out on.

Furthermore, what then happens when young families find themselves priced out of the smaller cities and more rural areas all these hoards of Londoners are relocating to? Where will they go then?

More needs to be done by our government to ensure affordable housing - to rent and buy - is available, for all, everywhere in our country. Meanwhile, authorities should take tangible steps towards making our cities better places for individuals of all ages to live - for example, by targeting crime and improving air quality. Our young families are the future, after all.