Britain is undergoing a regional renaissance.
For the clearest view of the rebalancing between London and the rest of the country, look no further than the property market. The trend is even more pronounced for properties costing more than £1m. According to Savills and data provider TwentyCi, more families have left London or moved farther into the commuter belt, prioritising bigger homes over a shorter journey to work. This has inflated the number of agreed sales in areas such as Hampshire and Kent. North Yorkshire also experienced an increase, underlining the interest in the north of the country.
But the rush of demand outside of the capital is causing some problems too — not least because smaller towns are having to accommodate holidaymakers as well as new homeowners. Perhaps in anticipation of a crowded seaside, families are also decking out their own back gardens. UK retailers report scrambling for enough supply of children’s slides, sandpits and paddling pools.
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