Great London exodus
A new survey shows increasing numbers of property owners in and around the capital are selling up and moving to the country.
The London property market continues to gather strength with prices steadily increasing and for many city homeowners who have accrued a good amount of equity they are now taking advantage of a buoyant property market and escaping to the country.
The economic meltdown has left many London property owners feeling susceptible to; possible future job cuts and pay freezes in the wake of the recession and are moving out of the trendy but expensive areas of the city and moving to the cheaper towns within commuter distance.
With UK mortgages still offering historically low interest rates not only are they likely to drop the size of their mortgage in such a move but they could also be in a position to buy a bigger property than they would if they had moved within the captial.