New research released by Shiply, an online transport marketplace, has revealed a 40% decrease in people moving to London in 2022 when compared to 2021. This has been attributed to the country’s current cost of living crisis, with rental prices in the capital soaring higher than ever before.
Founder of Shiply, Robert Matthams, commented: “With the COVID-19 pandemic no longer affecting us as it was, we would have expected to see more Britons moving back to the capital. However, until the soaring rent prices and the increased cost of living become more manageable people will remain hesitant to make the move – I would expect to see this downward trend continue until the cost of living decreases”.
Shiply has been used by several million customers since it’s launch in 2008. It allows users to list their house move requests online and receive multiple quotes from removal companies, often costing up to 75% less than standard rates.
Utilising their platform, Shiply has been able to cut down on wasteful CO2 emissions and increase the profitability of transport companies.
Shiply Founder, Robert Matthams, stated: “The data clearly shows that the cost of living crisis has had a major impact on people’s decisions to move to the capital. Until the rent prices and cost of living become more manageable, we can expect to see this downward trend continue.”
Derick is an experienced reporter having held multiple senior roles for large publishers across Europe. Specialist subjects include small business and financial emerging markets.