More Londoners buying homes farther away from the capital

LONDON - More and more Londoners are purchasing homes farther away from the British capital in a bid to get better bang for their buck.

The average person moving from the city bought a home a record 63km outside it between January and June, according to a report from broker Hamptons International. That is about 10km farther than in 2019 and 65 per cent more than the typical first-time buyer.

"Four years on from the pandemic and many city workers have settled into a new normal when it comes to going into the office," said Ms Aneisha Beveridge, head of research at Hamptons. "In a bid to make their equity stretch further, movers continue to make longer distance moves out of the capital."