Estate agents have shared where in London people from outside the city are moving to. According to Savills, tenants returning to the capital from the countryside are most likely to put down new roots in Wandsworth and Chiswick.
Speaking to MyLondon, Robin Chatwin, head of Savills south west London region called it “unsurprising” that people were heading for these areas. He said: “When the pandemic hit, it’s unsurprising that there was a flurry of city based residents looking to escape to the country or to London’s more domestic locations like south west London – and this hasn’t changed
“Two years on, there’s definitely a sense that people want to be back in the city, but they want a hybrid of living where there is an ease of access to the city centre as well as private gardens or access to commons and parks. I feel, this is really what sets the south west apart.”
Both Wandsworth and Chiswick are largely residential and affluent areas. Homeowners are attracted by Wandsworth Town’s excellent transport links, scenic location, great schools and plethora of green, outdoor space.
In a similar vein, leafy Chiswick is home to charming rows of homes and pubs that lines the River Thames. It offers that village-feel whilst still offering the best of the high-street and has strong links to the city.
The number of tenants moving to London from outside the city following the pandemic, or ‘boomerang buyers’ is growing according to estate agents Dexters. Anthony George, Director of Dexters London Bridge said they’ve “definitely seen a rise in tenants moving into London” again.
Recent research released by PA showed that some 30% of homes let in London this year so far have gone to people who were previously living outside the capital. According to sales and letting agent Hamptons it is the highest figure in at least a decade and compares to a five-year pre-Covid pandemic average of 23%, the report said.
The trend marks a sharp reversal compared with 2020, when just 12% of London tenants came from outside the city. During lockdown, many renters moved back in with parents or to more affordable or more rural areas.
The majority of tenants recently moving into London came from the surrounding Home Counties – locations including Berkshire, Buckinghamshire, Essex, Hertfordshire, Kent and Surrey.
Aneisha Beveridge, head of research at Hamptons, said: “Tenants are returning to the bright lights of the city, and this is driving rental growth to record highs. The rise of remote working means that fewer tenants are moving to the capital specifically for work.
Tenants choosing to live in London are thought to be working fully remotely and could live anywhere in the country. “The footloose nature of many jobs today means that it will be culture and lifestyle rather than employment that becomes the capital’s biggest draw,” they explained.
Got a story we should be covering? Email email@example.com.
Want more from MyLondon? Sign up to our daily newsletters for all the latest and greatest from across London here.