New research by graduate recruitment website GradFutures.com reveals 91% of graduates are focusing their job search almost exclusively on London and 31% are jobseeking in the South East, despite being willing to move anywhere in the UK to secure a role.
Major UK regions outside of these areas each only manage to draw 13% of graduate jobseekers on average.
Only one in 10 (11%) graduates are looking in the North West, 7% in Wales and barely 4% are considering vacancies in Northern Ireland.
This is despite the fact that the majority (53%) of graduates claim to be ready and willing to move across the country for a job.
Demetrios Zoppos, director at GradFutures.com, said: "Graduates will find that London's streets aren't always paved with gold.
"Times are undoubtedly tough for graduates but there are still job opportunities to be found outside the capital. By focusing their job search on the South East graduates could be missing out on career opportunities elsewhere.
"Similarly, regional employers must widen their nets and step up marketing of opportunities to attract the cream of the country's graduates."
