Life After London: Covid-Era Exodus Isn’t Just for the Wealthy
- Property prices away from capital rise as London’s sink
- Gentrification pressures spread to smaller cities, suburbs
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When Prime Minister Boris Johnson advocates narrowing the gap between London and the rest of England -- what he calls “leveling up” -- this probably isn’t what he has in mind.
A rush to escape the city is pushing rents in London and the rest of the country in opposite directions at the fastest pace in at least five years. As Covid misery lingers, rents in the capital fell 4.4% year-on-year in November, while they jumped 5.6% in the rest of the U.K., according to HomeLet, a rental-service company.