Buying homes outside London: top 10 most popular areas for buyers leaving the capital

As the average age for quitting London to buy a home falls to 39, a record low, we take a look at the top 10 most popular locations for buyers who want to live just beyond the city fringes. 
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Londoners are leaving the capital at a younger age than ever before in order to buy a home, according to a new report, with the Hertfordshire commuter town of Broxbourne emerging as the hottest relocation spot.

The average age of Londoners who bought homes outside the capital in 2019 was 39 — down from 47 in 2009.

London leavers spent just under £359,000 on average buying a home last year, according to the report by Hamptons International, well below London's average house price of £472,000.

Greater London and the South-East have long been popular with London buyers seeking more green space for outdoor lifestyles, larger homes and good train links to the city.

In the zone: areas such as Epsom, now on the Oyster card scheme, have long been popular with Londoners seeking more green space and good train links
Alamy Stock Photo

Now, priced-out first-time buyers are swelling the London leavers’ ranks as high property prices, rising buying costs and steep deposit requirements make it increasingly challenging to take the first step on the ladder.

Almost a quarter of the 73,000 homes bought by London leavers last year were snapped up by first-time buyers.

"For some, leaving London is the only way of getting on to the housing ladder," says Hamptons' head of research Aneisha Beveridge, "For many first-time buyers it also means moving further afield to areas such as the Midlands and North where they can get more for their money."

Where are Londoners moving to?

Sixty-nine per cent of London leavers moved to the South of England last year, while 15 per cent chose homes in the Midlands and 13 per cent moved to the North.

The top 10 areas chosen by leavers are only just beyond the city fringes so, while prices may encourage searches further afield, it seems most buyers aren't ready to give up London connections entirely.

With an average property price of £351,600, the commuter town of Broxbourne in Hertfordshire was the most popular area with 76 per cent of homes bought by Londoners last year.

£300,000: this two-bedroom cottage in High Road, Broxbourne, is a short walk from the train station

Broxbourne sits just the other side of the M25 from Enfield, at the northern end of the Lee Valley Regional Park and the white water centre built for the 2012 Olympic Games. The wider Broxbourne borough includes Cheshunt, Waltham Cross and Hoddesdon.

Direct trains from Broxbourne station to London Liverpool Street take around 35 minutes, while an annual season tickets cost £2,736.

This two-bedroom cottage in High Road, Broxbourne, is for sale for £300,000 a short walk from the train station. In London, the same asking price would buy this one-bedroom apartment near Streatham Common or a studio flat in Islington.

In second and third places were Essex hotspots Epping Forest — only a short drive from the Tube's Central line at Epping, with house prices of £460,340 — and Thurrock where the council's £6.6 billion plans include two new schools and almost 3,000 homes. Average house prices in Thurrock are just below £268,000.

Big plans: Essex's Thurrock, due to get £6.6bn investment, came third on the list of most popular locations
Alamy Stock Photo

Epsom and Ewell ​— which joined the Oyster card scheme last year — in Surrey, and also Hertsmere, with commuter-friendly suburbs such as Elstree and Potters Bar, in Hertfordshire, both saw 50 per cent of homes sold last year bought by Londoners. Average house prices in these areas were £455,550 and £463,830 respectively.

Popular areas for London buyers in other regions were Kettering and Coventry in the Midlands, with average prices of £204,000 and £188,170; and Liverpool (£134,000), Leeds (£184,830) and Newcastle upon Tyne (£159,200) in the North.

Home buyers in these areas are finding more space for their money and improving transport links, such as the Midlands Metro and forthcoming HS2 network which is scheduled to open in phases between 2026 and 2033.