Monday, September 26, 2022

Thurrock is the most popular destination for Londoners looking to buy

THE most popular destination for Londoners leaving the capital is Thurrock, a study has found.

The report, by Hamptons International, highlights the top 20 locations Londoners have relocated to in the last year.

Researchers say the appeal includes its green space. As we know, more than half its area is designated as Green Belt land.

But Johnny Morris, head of research at Hamptons, said the chief motivation for Londoners thinking of moving to Thurrock was price.

“The gap between buying in London and in places like Thurrock is absolutely huge,” he said. “We have seen an increase in the number of first-time buyers looking further afield for a home they can afford as prices in London continue to increase.”

The top 20 is based on Land Registry figures showing the places which had the greatest number of new residents moving from London last year.

According to figures, flats in London sold for an average of £451,194 last year, with terraced properties selling for £586,532. In Thurrock, the average price of a flat was £120,556, with houses going for £219,852.

Londoners moving there spent an average of £189,591 on their purchases. “Thurrock is the first place, going out of London, where the prices are affordable for people on normal money,” said Glen Kempster, director of Howgate & Kempster estate agents.

He believes Grays is the obvious choice for commuters since trains to Fenchurch Street take 35 minutes. An annual season ticket costs £3,272.


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