By By Katherine Ogilvie Oct 30, 2014 in Business London - According to the Chartered Institute of Housing, 34 percent of people living in Greater London agreed that they might have to leave their local area in the future because of the high cost of housing. The surge in prices has already encouraged thousands of city dwellers to leave their lifestyle in the capital and move to a destination where they can get onto the property ladder. According to research, during the past 12 months Londoners have brought 44,000 properties worth a total of £15bn outside of the capital, which is the highest value and volume since 2007. However, some Londoners are moving out of the city to an area where it means they don’t have to completely leave their London lifestyle behind. Many are taking advantage of Home Counties and places such as Northamptonshire where they get to enjoy a more rural lifestyle, yet can still commute to their job in the city. However other statistics imply that many are moving to more rural areas. For example, the Many people are realising that they can get a better standard of living and more for their money outside of the capital. For example, the average house price in the East is £194,000 cheaper than the average house price in London, and the average house price in the South West is £221,000 cheaper. People are aware that they can get as much as a four bedroom large house, with a garden for the same price as a one bed flat in London. Naomi Tarry, founder of Best Escapes who specialise in Norfolk cottages recently founded a new company, Best Estates estate agents. "After opening the Best Estates estate agents in Spring 2014, we have seen fantastic interest in our properties as an increasing number of people are interested in buying in East Anglia". Caroline Smith, a resident of Norwich said, "When you go towards the coast in Norfolk or Suffolk at weekends, you can see the change in some of the seaside towns and villages that are now so frequently visited by Londoners. Southwold is a great example, with the introduction of shops such as Fat Face, White Stuff and Joules - all geared to cater to that middle to upper class Londoner on a mini-break. More and more of these families are buying up property in this area and moving out of London." So with the average asking price of a home in London rising by roughly £4,500 a week since the beginning of the year, many Londoners are wondering whether their lifestyle in London will have to come to a halt sooner than they thought and may have to opt for a more rural lifestyle outside of the city. However, the question that is crossing many Londoners minds is how long this trend in extortionate house prices in London will continue. Many London citizens may not want to risk leaving their London home, to then discover that the housing market has started to slow and they can actually afford to continue living in the city. For instance, Nationwide have stated that there has already been signs to suggest With predictions like this already being suggested, it may encourage Londoners to keep their city lifestyle in the capital for as long as they can. On the other hand, if the market doesn’t cool, the trend in people relocating outside of the capital could continue to increase. But with the housing market being so unpredictable, much of it is the case of waiting to see what will happen with house prices in the future. Private rents in London are almost double those in the rest of the country with landlords typically asking £1,211 a month for one-bedroom flats and £1,605 for a two-bed flat. Furthermore, the cost of buying a house seems only an unrealistic dream now for those looking to get onto the property ladder, with the average house price reaching a staggering £458,000.The surge in prices has already encouraged thousands of city dwellers to leave their lifestyle in the capital and move to a destination where they can get onto the property ladder. According to research, during the past 12 months Londoners have brought 44,000 properties worth a total of £15bn outside of the capital, which is the highest value and volume since 2007.However, some Londoners are moving out of the city to an area where it means they don’t have to completely leave their London lifestyle behind. Many are taking advantage of Home Counties and places such as Northamptonshire where they get to enjoy a more rural lifestyle, yet can still commute to their job in the city. However other statistics imply that many are moving to more rural areas. For example, the DEFRA report discovered that an extra 48,000 people moved into rural areas, in the years 2010-11 on top of 54,000 who relocated to the countryside during the previous year.Many people are realising that they can get a better standard of living and more for their money outside of the capital. For example, the average house price in the East is £194,000 cheaper than the average house price in London, and the average house price in the South West is £221,000 cheaper. People are aware that they can get as much as a four bedroom large house, with a garden for the same price as a one bed flat in London. Naomi Tarry, founder of Best Escapes who specialise in Norfolk cottages recently founded a new company, Best Estates estate agents. "After opening the Best Estates estate agents in Spring 2014, we have seen fantastic interest in our properties as an increasing number of people are interested in buying in East Anglia".Caroline Smith, a resident of Norwich said, "When you go towards the coast in Norfolk or Suffolk at weekends, you can see the change in some of the seaside towns and villages that are now so frequently visited by Londoners. Southwold is a great example, with the introduction of shops such as Fat Face, White Stuff and Joules - all geared to cater to that middle to upper class Londoner on a mini-break. More and more of these families are buying up property in this area and moving out of London."So with the average asking price of a home in London rising by roughly £4,500 a week since the beginning of the year, many Londoners are wondering whether their lifestyle in London will have to come to a halt sooner than they thought and may have to opt for a more rural lifestyle outside of the city. However, the question that is crossing many Londoners minds is how long this trend in extortionate house prices in London will continue. Many London citizens may not want to risk leaving their London home, to then discover that the housing market has started to slow and they can actually afford to continue living in the city. For instance, Nationwide have stated that there has already been signs to suggest the housing market is starting to moderate with the tougher mortgage lending rules put in place combined with the forecast that interest rates may rise again in early 2015.With predictions like this already being suggested, it may encourage Londoners to keep their city lifestyle in the capital for as long as they can. On the other hand, if the market doesn’t cool, the trend in people relocating outside of the capital could continue to increase. But with the housing market being so unpredictable, much of it is the case of waiting to see what will happen with house prices in the future. More about Housing, London, London property prices, uk property market More news from Housing London London property pric... uk property market