Home Business News Fewer Brits moving to London as capital experiences rental crisis

Fewer Brits moving to London as capital experiences rental crisis

by LLB Finance Reporter
23rd Jun 23 1:34 pm

Shiply saw a 40% decrease in people moving to London in 2022 overall when compared to 2021, bucking the trend of an annual increase in moves to the capital and showing the harsh effects of the rental crisis and cost of living on the removals market.

There have been numerous recent events that have affected people’s moves in the UK, most significantly the pandemic as working from home became the norm and proximity to offices became less of a necessity. With the pandemic over, it looked like there would be a clamour to move back to London as the country opened back up and people looked to get back to major cities. Rentola London can help with finding suitable rental properties.

However, data by Shiply shows that, in fact, the capital has seen a 40% decrease in moves in 2022 when compared to 2021. The reason behind this is that, despite coming out of the pandemic, the country has been thrown into a cost of living crisis, with London rental prices soaring the highest they have ever been.

Shiply’s Founder, Robert Matthams, said, “With the COVID-19 pandemic no longer affecting us as it was, we would have expected to see more Britons moving back to the capital.

“However, until the soaring rent prices and the increased cost of living become more manageable people will remain hesitant to make the move, I would expect to see this downward trend continue until the cost of living decreases.”

Shiply, used by several million customers since 2008, allows users to list their house move requests on the site and receive multiple quotes from removal companies.

Prices can be up to 75% cheaper than standard rates, and house moves can often cost a few hundred pounds rather than a few thousand through standard methods.

Leave a Comment

You may also like


Sign up to our daily news alerts

[ms-form id=1]