As the incessant rise in London property prices seen in recent years pauses, one of the key factors tying Londoners to the capital; the fear of getting off the London property market, has started to wane. Consistent with this trend, a growing number of based homebuyers are moving out of London and relocating to the East Midlands, specifically Rutland, in search of their next home.
Due to the vast disparity in prices the cliché that ‘you can get more for your money’ becomes a momentous understatement. Take for example, a couple selling their £2m house in Clapham. The house is likely to have five bedrooms and a stylist kitchen opening onto a small garden – by London standards, not bad indeed. However, relocate to Rutland and this £2million will purchase a period house four times as large with outbuildings and a few acres of land. Choose to bank half a million (or pay off the mortgage) then one can still purchase a handsome detached property with large garden in a beautiful village or market town location.
So why are Londoners moving to the area?
Aside from the prices, residents of Rutland have access to three of the top independent schools in the country (Oundle, Uppingham and Oakham), can get into London from Peterborough station in 47 minutes, are about an hour and a quarter from three main airports and have a choice of rural recreational pursuits around Rutland Water and urban actives in towns such as Stamford and Oakham. There is also an increasing number of ‘PLUs’ so if newcomers ever miss London society knocking on a neighbour’s neighbour may well reveal a fellow Londoner.
Overall moving out of London requires a lot of time, information gathering, and eventual property viewings. Garrington can help save your valuable time by contacting agents, carrying out the leg work, and previewing properties so only you see the worthwhile contenders.
If you would like to find out more about Garrington’s services and how we can help you with your move out of London, please contact us.