More than 300,000 people moved out of London last year, according to Land Registry data.
New research has revealed the South East saw the biggest influx of people, with close to quarter of a million people relocating there in 2016.
The South West region saw the largest net levels of growth – with the overall population growing by more than 30,000 people.
London had almost 200,000 people move in to the capital but correspondingly saw close to 300,000 move away to other regions. It was the only region with a net fall in people.
Younger movers are the most prolific, with more than 300,000 people aged 20-24 moving during 2016. More than 25,000 people aged 20-24 relocated to London, coming in part from regions such as the West Midlands, Wales and Yorkshire, who all saw younger people move away
A spokesperson for Barratt Homes said: “The extent to which people are relocating throughout the country highlights the draws and appeals of every region of the UK. As a homebuilder it’s important for us to have a nationwide understanding of where and how people relocate.”
Unsurprisingly, internal relocation is greatest between neighbouring regions. The majority of those relocating from London went to the South East (>110,000) and the East (>73,000), where proximity to the City is likely to still be a deciding factor. Similarly, those in the North East moved to Yorkshire (>10,000) and the North West (>7,000), perhaps so as to remain close to their roots.
London does attract significant movers from other regions though, attracting more than 28,000 people from the North West and Yorkshire combined. It is the second-most popular region for Scottish movers, possibly driven through greater accessibility to jobs and higher average salaries.
The North West, covering major metropolitan areas such as Manchester and Liverpool, has secured relative parity in terms of relocation, even amongst the most mobile age groups. Between the ages of 20-39, fewer than 63,000 people moved to the North West while an almost identical 61,000 went in the opposite direction.
A Barratt spokesperson continued: “When homeowners choose to move to a new area of the UK, even if that’s a neighboring region, they’re making a big decision about where they plan to spend the next stage of their life. It’s fascinating to see where the levels of relocation are fairly evenly balanced, and where there is the most growth, such as the South West region for instance.”