Halifax has revealed that Britons are growing weary of the city and seeking out new homes by the sea.
Seaside locations are among the most popular destinations for Britons looking to relocate, new research from Halifax has revealed. Figures from the mortgage provider show that 80 percent of the top 20 local authorities for relocation are by the sea.
The highest levels of net internal migration - where the number of new residents is balanced against the number of homeowners moving away from the area - over the past decade has been noted in coastal local authories (LAs). The top 20 LAs for net internal migration feature 16 coastal destinations.
Halifax economist Martin Ellis commented: "There have been significant population movements across England and Wales during recent years. Coastal areas have proved to be popular destinations for people to move to as many people have sought to take advantage of the benefits of living near the sea
The lender also found that although many movers are attracted to the bright lights of the nation's largest cities, an equally high number look to leave the hustle and bustle of town for a quieter location. This trend was most prevalent in Birmingham which has recorded both the highest inflow and outflow of residents over the past ten years.
Mr Ellis said that this serves to "highlight the transient nature of the population in many of our major cities".
