The rising cost of living is pushing city dwellers into suburbia and beyond, according to a house-moving website. Figures published by reallymoving.com show that significantly more people moved away from UK cities than moved to them in the last quarter of 2010. Canterbury and Cardiff were among the most popular areas to relocate to, while Bournemouth retained the highest number of residents.
NEW DEVELOPMENT FOR EALING
Leading London developer St. George are set to launch a mixed-use residential development in Ealing. It is hoped that Dickens Yard, which launches its first set of apartments on 5th February, will revitalise Ealing’s town centre. The site will contain 698 apartments set around a public piazza and landscaped gardens, and overlook 100,000 square feet of shops and restaurants. Property prices start from £279,950. www.dickens-yard.co.uk
INDIANS BUYING UP PRIME LONDON PROPERTY
Record numbers of Indians are buying up prime London real estate, says estate agent Savills. Indians are now the second biggest foreign buyer group of the capital’s high-end residential properties, after Europeans, and are helping drive prices up. Savills’ head of research Yolande Barnes attributes this trend to “India’s historical ties, the city’s cosmopolitan vibe as well as clearly laid out legal rules”.
PRIME LONDON PROPERTY MARKET BOOMING
The prime central London property market is in fine health according to the latest research by the London School of Economics. The price of flats in prime central London reached an all-time high in November 2010, following the high hit by prime central London houses in August. The strength of the market is due to supply shortages, interest from foreign investors and the resurgence of city bonuses.