London Housing Prices Drive 30-Year-Olds Out of the City
A renters' advocacy group called Generation Rent recently found "65,890 people in their 30s moved from London to another part of the UK in 2014-15, a net loss of 30,410 in that age group." These departures represent a dramatic increase over previous years, Hillary Osborne reports.
Rising costs that far outstrip housing prices in other parts of the U.K. have caused London to lose population in all age groups except those in their 20s. The populations that have been pushed out have also been diverse in income, affecting even the very wealthy.
Generation Rent's Director, Betsy Dillner, told Osborne that Londoners were making the difficult decision to move because of an “extortionate housing market." A trend that continues to push those who may fear becoming permanent renters out of the city to suburbs or farther afield.