According to L&C, around a quarter of young workers are considering relocating now that remote working has become an established practice.
The brokerage says in a survey that 26% of 16-24 year olds and 23% of 25-34 year olds plan to move now that they can work remotely, attributing those attitudes to lockdown work practices during the pandemic.
He adds that 35% of 16-24 year olds and 27% of 25-34 year olds said they are actively seeking positions that include remote work, which will allow them to move to a less expensive area. .
The survey revealed that some people wanted to move relatively soon, with 17% of those surveyed planning to move within the next 12 months, 31% of this group were under 24 years old. Among those over 55, 7% say they intend to move in the coming year.
The poll also revealed that 31% of those living in cities would like to move in the next 12 months, but are unsure of the best location for their next move.
According to the survey, the top three reasons for moving are a change of scenery, buying a bigger property with more outdoor space, and living in a less expensive neighborhood.
L&C has created an interactive relocation map displaying the average price of a house in nearly 240 popular urban, coastal and rural locations across the UK.
He revealed Birmingham was one of the most affordable relocation choices in the UK, comparing a three-bedroom house to some of the UK’s biggest cities.
The lowest average price in Birmingham for this type of property is £238,059, closely followed by Leeds at £238,845, with Manchester being the most expensive at £247,188.
It also found that Newton Stewart in south-west Scotland is the cheapest rural area for a two-bedroom property.
The tool found that this type of property in Newton Stewart costs an average of £123,913. This is followed by Carmarthen in Wales at £168,275 and the Cumbrian town of Cockermouth at £177,168.
L&C Mortgages Associate Director David Hollingworth says: “The pandemic has changed the way many people work. As more and more people have the option of working remotely, this opens up the possibility of relocation to an area that previously would not have been possible.
“This could allow buyers to move to a less expensive area or afford more space. As the cost of living and rising house prices continue to put pressure on households across the UK, it’s no surprise to see many considering the option of moving elsewhere.
”It was perhaps unsurprising that many of those considering relocating hoped to move to the coast or the countryside, although towns showed that they had not lost their appeal. There is clearly substantial price variation across the country, whether buyers plan to move to the coast, the countryside or the city. ”
The L&C poll was carried out by the Censuswide data group, which spoke to 2,000 British adults between March 18 and 21.
Property sales data for the company’s interactive map was taken from Zoopla. This was analyzed to identify average house prices and number of bedrooms, for the last 1000 sales, or as many sales as there was data. Data was collected between February and March.