2.5 million people have moved to the South East from elsewhere in the UK since 1996, according to new research from Halifax. However, the South East also recorded the second highest number of people leaving to live in another UK region. Overall, the South East experienced a net gain from internal migration of 384,000 - the second biggest of the 12 UK regions.
The South West experienced the largest net gain from internal migration during the past decade. Over 440,000 more people have moved to the South West from elsewhere in the UK than have left to live in another region, boosting the region's population by 9%.
Although the population of London is still growing, 2.4 million people have left London to live elsewhere in the UK during the past ten years. As a result, London recorded by far the greatest net loss from internal migration (608,000) of any region. However, the decline due to internal migration was more than offset by the arrival of one million people to London from abroad over the past decade. Overall, London's population has risen by 538,000 over the last ten years. This was the biggest increase of any region.
The substantial net gain from internal migration has been a significant factor behind the rapid rise in house prices in the South West over the last ten years. The average price in the South West has increased by 206% during this period - a rise that is surpassed only by Northern Ireland and London.
Sixteen of the 20 local authorities with the highest levels of net internal migration since 1997/98 are coastal areas, suggesting that people are moving in large numbers to enjoy the benefits of living near the sea.
Martin Ellis, Halifax chief economist, said: "The South East and South West have been the most popular destinations for people to move to from elsewhere in the UK over the past decade. In particular, the high level of migration to the South West has contributed to the rapid rise in house prices in the region in the last ten years. Figures at a local authority level highlight the transient nature of the population in many of the UK's major cities. Birmingham, for example, recorded both the highest level of immigration and emigration in England and Wales."
