Why more Londoners are moving to Yorkshire but working in the capital

New research from Savills Yorkshire has found that almost a fifth of its buyers last year were based in London for work.Ben Pridden, head of residential sales at Savills in Yorkshire, says: “We are seeing a trend in buyers moving to Yorkshire from London and the South East with most opting to live in York and surrounding villages.“This is due to the city’s culture and history combined with its excellent rail links to London via the East Coast Main Line train service, which takes under two hours. These direct links mean that buyers are able to continue reaping the rewards of working in London whilst benefiting from the key fundamentals of value for money, quality of life, good schools and transport connections here in Yorkshire.”

Train takes the strain

Bryan Sharp, a technology consultant, regularly commutes from his home in a village near York for work in London. He catches the York to London train and quite often returns the same day. “One of the great benefits is being able to work while on the train there and back. Years ago I lived in Surrey and there was no way you could work on the commuter trains to London.”He often takes off-peak trains when the price of a first-class return ticket is about £200 and a second class fare is about £120. Split ticketing helps him cut the cost.“Some people commute from York to London on a daily basis and I sometimes do two or three days down there on the trot but I generally come home every day. It costs less than staying in a hotel and I get more work done on the train coming back than I would in a hotel,” says Bryan, who lived in London for a short time after university.“I go down for work and I still have a social life there but I wouldn’t want to live there now and bring my children up there. It feels much more secure here in Yorkshire. It always feels great to be back home.”Savills' findings come at the same time as a new study by Hamptons International that shows the average London leaver spent £358,650 on a new home outside the capital last year.

Affordability issues

Hamptons say that affordability barriers in London mean that people are now moving away at a younger age. The average leaver purchasing a home outside the capital in 2019 was 39 years, eight years younger than in 2009.A Hamptons spokesperson says: “While many take advantage of being able to buy larger homes for their money, for others, leaving London is the only way of getting onto the housing ladder.“Nearly one in four who purchased a home outside the capital last year were first-time buyers. This is an increase from 22 per cent in 2016.”Data shows that while most London leavers bought in the South East, South West or East of England, more of them are moving to the Midlands and North of England.In 2009, just one per cent of London leavers bought homes in the North. In 2019, a record 13 per cent migrated here..Hamptons say the proportion of Londoners heading to the North East, North West or Yorkshire has been rising at a significant rate over the last decade.Aneisha Beveridge, Head of Research at Hamptons International, says: “Historically, most homeowners leaving London did so for lifestage reasons and to take advantage of being able to buy a larger home, but for others, leaving London is the only way of getting onto the housing ladder. As a result, the average age of someone leaving the capital to purchase a home has fallen to the lowest level on record.“For many first-time buyers it also means moving further afield where they can get more for their money.”

Price forecast

This might appeal to a London leaver. For sale: Church Field Lane, Great Ouseburn, near York, £850,000, www.savills.co.uk

Another lure is that house prices in Yorkshire are predicted to rise faster than the national average.Ben Pridden of Savills says: “Our latest forecasts indicate that house prices across Yorkshire will increase by two per cent in 2020, with five-year growth of 21.6 per cent by 2024, compared to 15.3 per cent across the UK.“It is no surprise that there is an increasing trajectory in the number of buyers looking to move here from other parts of the UK.”The Savills research also found that 38.6 percent of those buying through its York office in 2019 were cash buyers.However, supply of homes for sale across Britain has been limited due to Brexit uncertainty, though there are signs this will increase thanks to a post-election bounce in buyer and seller confidence.“There are buyers out there ready and waiting and many are prepared to pay cash so there is no time like the present if you are thinking of bringing your home to the market,” says Ben.“The traditional, seasonal market has gone out of the window due to so many external economic and political factors at play. There is a major trade deal to agree this year and I predict that its progress will influence sentiment more than the season.”