Londoners buy more houses outside of the capital, as prices are still too high, Bloomberg reports.

Citizens of the city bought more than 30000 homes outside of London. It is 16% more than last year, and 61% more than ten years ago. About 40% of people leaving the city head to south east of England, while 30% to east of the country.

Most of leavers buy larger homes to avoid paying stamp duty on resale.

Despite of recent cooling of the market, price of houses in the capital are still almost two times higher than ten years ago, as demand exceeded supply and interest rates were held low stimulating purchases.

Value of house for average Londoners are 14,5 times higher than his or her annual income. Stamp duty for the house with value 483800 pounds, which is average for London, is 9190 for first buyers and 14190 for those who already owned property before.