It seems rich Londoners who fled the city during the pandemic to work from home at a rural location, thereby inflating ('over-heating') some regional housing markets, are now finding it hard to sell up (or taking a loss) to return to the city now they are 'needed' in the office more often.... rural house prices & London prices have (further) diverged (as posted yesterday).
Locals may see this as a fitting result (poetic justice) having been priced out the market themselves.
h/t FT
@ChrisMayLA6 Rich londoners who fled london during the plague, but ended up bringing the plague with them out of london too.
A sentence as appropriate to #COVID as it was during #TheBlackDeath.
Can we not just electrify the M25 and keep them corralled in there? For the good of the rest of the country.
yes, an electrified M25 would be a great way of quarantining them for the good of the rest of the country
no its very much a bit of anecdotal House & Home reporting.... no real data behind it, but rings true, based on the experience of the Lune Valley housing market & recent 'departures' back to the city
@ChrisMayLA6 I am curious how much of it is Londoners moving back and how much of it is landlords (often from the south east) getting out of rental because the returns on it are now way below putting it in the markets and far more work/risk.
We also have a lot of less well off ex London area people here who moved out because they could never afford to be in London, or wanted a stable family home, plus a load basically deported by London councils.
all good points.... the FT anecdotally based reporting was focussed, as you'd expect, on the wealthy professional classes
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