The emergence of COVID-19 has redefined how employees work. Many employees are now working from home and it is becoming a norm. The situation is such that even more employees and employers push towards working more from home.
The pandemic has also forced a rethink on Londoners who feel it is smarter to invest outside the city. Moreover, some Londoners are forced to secure new homes in other UK locations while some depend on no search Indemnity insurance to get out of long wait times. Those who lost their loved ones use inheritance to secure moving away from the UK centre while some are using Wills and probate insurance.
Considering the state of things, Lawsure Insurance surveyed how many Londoners could be departing and what people want in their move away from England’s capital. You may navigate to www.lawsureinsurance.co.uk/londoners-dream-home/ for more of this study.
How Many Londoners Are Migrating Away from the Capital?
7.5% of homes bought outside the UK’s capital in 2020 belong to people moving away from London. 62% of the homes were sold to Sevenoaks, Windsor, Maidenhead, Oxford and Rushmoor.
What Moving Londoners Seek in Their New Settlements
63% of people buying properties think a bigger garden is their top priority. 90% of those consider larger gardens a vital aspect when selecting a new home.
- Playground. Moving Londoners need the space to tire out the children while homeschooling.
- Ventilation. Moving Londoners prefer non-compact places. They think larger gardens allow fresh air and sunlight.
- Planting. Some Londoners just love planting, typically for food and beautifying their surroundings.
Typical properties in London are known to spot no garden space for entertainment or running around. However, homes outside the city offer space for the money.
Sizable Homes for Comfort
18% of people moving from London for new homes think a bigger floor plan is their top priority. 43% of homebuyers outside London out of their desire for space and comfy.
- Space for family time. Londoners need more space for their homes, and with the current trend of more people working from home, space is becoming a top priority for everyone.
- Escaping public space. Moving away from London means escaping public spaces. Nevertheless, more London residents are migrating not just escaping the public but also getting more space for the money.
Safe Car Parking Space
36% of homebuyers outside London think a private parking space is the most important factor in their decision.
- Where to park while away at work. Lots of people drive their cars to work. However, commuting is no longer regular, and vehicles are being used less. Not driving could mean saving, and migrating Londoners looking to save fuel need the parking space or garage.
- Security. London police recorded 30,766 motor vehicle thefts in 2017, i.e., three vehicles per hour. With a private garage, apart from looking for where to park, moving Londoners can reduce insurance costs from theft since they would be having a safe parking space.
36% of the homebuyers think space is a priority. During the lockdown, people needed to improvise working spaces from their homes. 12% of moving Londoners from the city think of space to do their job before anything else. Makeshift desks, kitchen sinks, etc., are not viable spaces for comfort while working.
Openness to Outdoor Space
More Londoners are looking at the openness of an area to outdoor space. 14% of moving Londoners think areas closer to outdoor space is a priority while 31% seek nearness to open space.
- Entertainment. COVID-19 has restricted foreign holidays and entertainment spaces. Functional entertainment spaces are at a limited capacity, meaning moving Londoners need new or creative ways to entertain themselves from home.
- Escaping public space. Outdoor spaces like woodland, national parks, and beaches are popular across the UK over the years. Some of these areas can be crowded under nice weather, and a relaxing day out could mean breaking the rules of the new normal, which does not help the fight against coronavirus.
Why Moving Outside the UK Capital Might Be Okay
- More comfort for your money. Having all the needed features in an ideal home in London would be quite expensive for some homebuyers. However, buying a home outside the UK gives you more for your investment. You could be saving even more money for other productive projects in your home while securing comfort.
- Cost-saving. The UK capital has always been one of the most expensive places to live in the UK. The annual average cost for a single person living in London rises to £2,892 per month and the yearly average cost of living in London for a single person is £34,704, or £2,892 per month. A family of four could be looking to spend up to £4,850 per month, making a move outside London to other cities a smarter cost-saving move.
- Working from home. More people are working from home in the UK. When you work from home, it means you are more likely to afford what you want without worrying about a long commute to your London office.