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Buyers escaping to the country are younger than a decade ago, a trend driven by stamp duty changes and entrenched by the pandemic.

The proportion of sales outside of London to buyers under 50 has increased from just under half (48%) in 2012 to 60% last year, as families move from cities such as London at an earlier stage in life.

In the South West, 56% of all sales were to buyers under 50 last year compared with just 36% in 2012, while in the South East the proportion was 64% compared to 51% in 2012. In the Home Counties, the figure jumped to 68% from 43%.

鈥淲e鈥檙e seeing the traditional move out of London to the country happening sooner than it used to, something that the pandemic and last year鈥檚 stamp duty holiday encouraged as part of the race for space,鈥� said James Cleland, head of 博鱼体育集团 Frank鈥檚 Country Business.

While the pandemic has encouraged people to bring plans forward, increased rates of stamp duty in recent years for higher-value properties mean that some have missed out a rung on the property ladder and traded up from a London apartment to a family home in the country to minimise transaction costs.

Pandemic reinforces trend

The trend has accelerated in certain parts of the UK over the course of the pandemic, as part of the wider escape to the country trend.

In the Central region, which includes Birmingham and Oxfordshire, the proportion of all sales to buyers under 50 increased from 51% to 58% between 2019 and 2021.

In the South East, which has been a major beneficiary of the race for space, the number increased from 61% to 64%, while it rose to 68% from 64% across the Home Counties.

鈥淲e鈥檝e seen more families moving out from London along the A3 to North Surrey earlier than they did before. Where once they had young children in tow, we鈥檝e seen far more people with babies as the pandemic accelerates people鈥檚 鈥榝ive-year plans鈥�,鈥� said Charles Davenport, head of the Elmbridge offices at 博鱼体育集团 Frank.

This move from London comes as the pandemic has continued to redraw the UK house price map, with housing equity becoming more evenly distributed across the UK.