Home buyers moving outside due to rising prices in London

Home buyers moving outside due to rising prices in LondonAccording to a new survey, home buyers are increasing looking at locations other than London due to the rising prices of homes in the British capital.

Estate agent Hamptons International conducted the survey that showed that buyers move 26 miles away from the capital.  The survey was also found that the pattern of reluctance was also recorded in other parts of England and Wales where people used just 2.5miles.  The survey also showed that 32 is the average age that Londoners move away for beginning a family but remained close enough to commute to the city.

Marc Goldberg, the head of Hamptons International said, "In the last three months the number of London buyers registering with our country offices has increased by 12 per cent.  As house prices increase at a faster rate in London than anywhere else, Londoners are increasingly waking up to the idea that they can get more value for money outside the capital."

The study showed that central London prices will rise by 32 per cent during the next five years and it was people were often found to be staying close enough to commute back.