The kids aren’t alright: Millennials are fleeing from London in their droves, driven by those in their early 30s
Millennials – those born after 1980 – are deserting the capital in their droves, according to new research.
The study, by the Office for National Statistics for The Silvertown Partnership, suggested 128,766 people aged 21-40 left London in 2014 – up seven per cent on the year before.
In fact, the number of young Londoners ditching the capital has risen eight per cent in the last five years.
The research suggested those in their early 30s are leading the exodus, with 42,448 people aged between 30 and 35 leaving London in 2014, 22 per cent higher than 2009's figure of 34,687 – while 33 is the age they are most likely to go.
The news comes the day after a survey by the National Housing Federation showed with the average home now costing £526,000, Londoners need an income of £120,248 to be able to afford an 80 per cent mortgage on a home in the capital – that's a 266 per cent payrise.
According to the research, buying property in more than half of London boroughs requires an income of £100,000 or more.
"It is imperative that the city accommodates this growth while preserving what makes it a successful place to live, work and play," pointed out Barry Jessup of The Silvertown Partnership. No kidding.