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Why are loads of young people leaving London?

Posted at 3:30 pm, December 2, 2014 in News
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Photo: Ashley Lewis

It’s the year 2050, Shoreditch’s bars have become knitting clubs, Hyde Park is a bowls lawn and Westfield is now just one huge M&S. Welcome to London, the UK’s largest and most expensive old people’s home.

Or at least that could be the way we’re heading. According to a recent study, young people are leaving the city in droves.

Between June 2012 and June 2013, 58,220 people aged 30-39 left London. It’s a 10 percent increase on 2010 and the highest number on record. It’s thought that rising house prices have increased the number of people migrating, with a house in London costing on average £402,800 compared to the national average £185,700.

Ed Cox, director of the IPPR North think tank said: ‘Young people may be initially attracted by jobs in the capital, but then they recognise that if they want to move on and get on to the housing ladder, there are opportunities in other cities.’

And where’s everyone heading? Birmingham, apparently. Nearly 5,500 people headed there during the study with Bristol, Manchester, Nottingham and Oxford also popular.

To be fair, London is the most expensive city in the world to live in.

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