Londoners bought more than 40,000 homes outside the city in the first six months of the year, which is 19 per cent above the pre-Covid average, according to estate agent Hamptons.
Three-quarters of these buyers made a permanent move from the capital, buying a home rather than a buy to let or second property.
Affordability barriers in London and more flexible working patterns have meant that a record 28 per cent of Londoners moving from the city were buying their first home, Hamptons found.
These buyers typically spent £383,070 on their property compared to an average £526,600 for first-time buyers remaining in London.
Buyers snapping up a first home outside London also ventured a further 2.2 miles from the city on average than in 2019, according to the data.
First-time buyers typically target more affordable commuter belt neighbourhoods, with a third of all buyers in Thurrock this year coming from London.
On the other hand, the share of Londoners trading a home in the city for outside the capital fell.
More than half of London leavers moved to a more affluent area, but this is often because many left less affluent parts of the city, with a quarter leaving some of the most deprived areas.
There has also been an uptick in Londoners investing in to buy to let outside the capital, with investors making up a fifth of purchases from the capital.
It means a record 65 per cent of London-based landlords buy investment properties outside capital, up from 26 per cent a decade ago.
Aneisha Beveridge, head of research at Hamptons, said: “It’s becoming increasingly evident that one of the biggest Covid-related housing market trends – moving out of London for the country – could be here to stay.
“Despite more people returning to London offices this year, the rate at which households have upped-sticks and headed out of town has continued apace. While last year families relocating to gain more space accounted for nearly three in five Londoners buying outside the capital, this year the figures have been driven by first-time buyers, many of whom were renting in the capital.
“Strong house price growth outside of London over the last year has meant that buyers have had to move even further outside the M25.
“The average Londoner moved 35 miles, the equivalent of trading Fulham for Farnham or Canary Wharf for Chelmsford – an extra mile further than in 2021.
“The distance London leavers move is likely to continue rising until at least 2024 as house price growth in the capital continues to lag behind the rest of the country.”
