Housebuilders are busy in the Home Counties as Londoners flee the capital’s ridiculous house prices
Housebuilding is on the up in the home counties as Londoners flee outrageous house prices in the capital.
There was an 11.3 per cent increase in residential planning approvals over the last year, up to 12,010 in 2015 from 10,793 the year before, according to commercial law firm EMW.
The greatest increases in housing applications from developers were in commuter towns such as Tunbridge Wells and Lewes, where applications swelled 82 per cent and 88 per cent respectively.
House prices in commuter towns are growing quickly though, so snap up some prime commuter real-estate while you can still afford it. Last month, it emerged that house prices are growing faster in Cambridge than in London.
Read more: A Brexit wouldn't be all bad for London housing
Marco Mauro, associate at EMW, said: "With rising property prices pushing people out of London, the home counties are becoming ever more popular places to live.
"Commuters are willing to travel longer distances in order to purchase a property. It is now normal to commute from as far away as Lewes, Swindon or Chelmsford. Property developers want to match the growing demand for less expensive housing in the home counties, which is often available at lower prices than in London."
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