Wealthy Americans are swapping U.S. ZIP codes for foreign postcodes, chasing stability as the U.S. grapples with a soaring cost-of-living, political polarization, and economic uncertainty. And now, they’re snapping up prime real estate in one of the world’s most expensive housing markets: London.
The British capital has witnessed a staggering jump in the number of sales valued above £15 million ($20 million)—and it’s largely being driven by Americans with deep pockets, according to luxury real estate company Beauchamp Estates.
An estimated £1.24 billion ($1.66 billion) worth of property was sold across 34 deals between January and June of this year, compared to the £694.1 million ($928 million) sales across 27 properties in the same period of 2025. The average sales price hit £36.5 million ($48.8 million), a £10.8 million rise ($14.5 million) from the year before.
And in the first half of this year, Americans accounted for 30% of all home sales above $20 million—up from 20% at the end of 2025—helping fuel the £546 million ($730 million) rise within just six months.
The average U.S. buyer of London’s high-class properties are usually young couples in their 30s to mid-50s, who have one of two young children. And Beauchamp Estates notes an influx of wealthy AI and tech coming in from across the pond; since the start of 2026, there has been a 10% rise in wealthy Americans working in the sectors acquiring top-tier London homes.
Now, ultra-rich U.S. expats are making the move to the U.K. cultural hub to dodge America’s political tension and soaring living costs.
Why wealthy Americans are fueling London’s luxury housing boom
There are reasons behind why they’re picking the cobblestone streets of London over the white-sand beaches of California. The real estate firm says that newly minted tech wealth, favorable buying conditions, and uncertainty surrounding the Trump administration are driving more Americans to the city’s luxury housing market.
“The U.S. economy and booming tech sector are generating significant wealth, but unease over Trump has helped to generate a 10% rise in American buyers transferring some of their money offshore into London property purchases,” Rosy Khalastchy, the director and head of St John’s Wood Office at Beauchamp Estates, said in a press release shared with Fortune.
Industries like private equity, tech, and AI are fueling a billionaire boom. The world gained around two million new millionaires last year—the biggest jump in five years—and the soaring value of AI companies acted as “primary engine” of wealth gains, according to a 2026 report from consulting firm Capgemini. And with London real estate prices more than 20% below their 2014 peak, buyers can now get more bang for their buck. Beauchamp Estates also points to a preferential exchange rate, opportunities for deals and discounts, and the city being viewed as “a good European business base” to grow their success. And beyond the financial incentives, Americans are choosing London for its social scene and quality education system.
Six in 10 affluent Americans consider leaving the U.S.—and its driving negative net migration
Americans are increasingly looking overseas to dodge the growing problems that have become an unmovable force at home.
Six out of 10 affluent Americans said that they would consider leaving the U.S. within the next five years, according to a 2026 analysis from Apex Capital Partner, a wealth management company specializing in second citizenship and overseas investment programs. And when asked why they’d consider leaving, 68% of respondents ranked cost of living and taxes first. It’s followed by 54% citing America’s political climate, 39% pointing to healthcare access, 29% to public safety, and 21% to education.
“Affluent Americans are increasingly treating immigration as a strategic financial move to safeguard their assets and families against political instability and rising expenses,” Nuri Katz, founder of Apex Capital Partners, told Fortune earlier this year.
Americans have been packing up and leaving in staggering numbers. In 2025, the U.S. recorded a net negative migration of between 10,000 and 295,000 people, according to The Brookings Institution. America hasn’t faced negative net migration in the U.S. since the Great Depression, nearly a century ago. The latest wave of luxury home purchases suggests some of America’s wealthiest are making their priorities known with their feet—and their fortunes.