omg... i am close to making this decision myself ! just sick and tired of the soaring house prices in london.
Depending on job and other situations, I'm hoping to be out of London this time next year - probably somewhere like Milton Keynes.
Also not to mention you could commute to Birmingham should you get a good offer from there.
Sadly for me, my partner's Italian and working in an industry wedded to London (as does mine, to a degree), and for her the thought of moving to the suburbs or beyond is just not possible, so...
Yeah.
I don't particularly want to move to Italy either.
Doomed.