Hamptons’ data showed that this was down from a peak of 8.2% in 2022, when the Covid-19 lockdown spurred a wave of people relocating outside the city for larger homes and more green space.
Out-migration so far this year is below the pre-pandemic average between 2010 and 2020, which sat at around 5.9%, suggesting the behaviour was more than a reversal of the pandemic-driven trend.
Hamptons said the decline in out-migration was mostly due to the return to office-based working and a slower London housing market, which has reduced the buying power of potential movers.
Property values in London, especially Inner London, have risen at a lower rate than the rest of the country. Hamptons said this could make it harder for people to trade up or relocate.
Prices outside of London have gone up by 26% over the last five years, compared to a rate of 8% in the capital.
In the last decade, house prices outside of London have risen by 55%, outpacing Greater London’s average of 23%.
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Outside of London | Greater London | Inner London | Outer London |
| Average price | £242,720 | £560,100 | £655,580 | £509,800 |
| 2025 vs 2024 | 5% | 0.7% | -0.9% | 2.5% |
| 2025 vs 2020 | 26% | 8% | 2% | 13% |
| 2025 vs 2015 | 55% | 23% | 12% | 33% |
More Inner Londoners are leaving
Londoners bought a total of 31,620 homes outside the capital in England and Wales from January to July this year, a 7% increase on last year.
This was driven by a stronger housing market where transaction levels are up 15% annually across Great Britain. However, the number of homes purchased by Londoners outside the capital is still half of that seen during the same period in 2021, when this totalled 63,600.
People living in Outer London make up the majority of movers at 70%, while Inner Londoners account for a record 30%, up from a quarter a decade ago.
Hamptons said this was a sign of weaker price growth in Central London, which made it harder for people to move locally, especially when borrowing costs were high.
The firm said the capital’s subdued housing market was resulting in a fall in out-migration, as property prices had stagnated or even fallen, which limited equity growth and the financial incentive to move.
Hamptons said this made it harder for Londoners to afford a larger home somewhere else. So far this year, those leaving Inner London have spent an average of £417,660 on their new home outside of the city, 25% more than they did a decade ago. Meanwhile, people relocating from Outer London, where house prices have held up better, spent 34% more than in 2015.
People who leave London are still able to buy larger homes, with the typical household selling in Inner London for £655,580 being able to afford more than double the size of their property, gaining 121% or 1,178 extra square feet of space.
Despite the increase in property space, this is still 32% smaller than if they had moved in 2016, when movers were nearly trebling their space.
Aneisha Beveridge, head of research at Hamptons, said: “London’s housing market has been treading water for much of the last decade, and that’s now shaping migration patterns. The return to the office has played a role in curbing the appetite for long-distance moves, but it’s the lack of price growth in the capital that’s really clipped the wings of would-be leavers. Many London homeowners simply haven’t built up enough equity to make the leap to where they want to go, especially as prices outside the capital have continued to climb. The result is fewer moves, shorter distances, and a growing focus on affordability over aspiration.
“We’re seeing a clear shift in where Londoners are heading. The pandemic pushed buyers into leafier, more lifestyle-driven locations, but today’s movers are more pragmatic. Places like Dartford and Thurrock are topping the list – not just because they’re commutable, but because they offer better value, particularly for first-time buyers. Even Inner London leavers, who once ventured far and wide, are now staying closer to the capital. In a sign of the times, the dream of doubling your space still exists, but it’s no longer a given. Buyers are having to compromise, and that’s reshaping the map of London out-migration.”
