The London to Country Property Market - prices, popular areas and buyer expectations
28 September 2017 |
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Moving from London to the country since the financial crisis of 2008 has been dominated by the boom in London prices and the relative stagnation in the country. On the face of it, this should have made the transition easy – but the reality is that buyers making the move were dominated by a fear of never being able to get back into the London market again. Those looking for a second home did not have the same fear. The last three years, where the London market has stalled, has seen a renaissance in country prices as that fear has receded and the normal flow of buyers wanting a country lifestyle for their children has resumed.
Extension of the commuter belt
Over a longer, say fifteen-year, period we have seen a definite change in what buyers want changed by the internet. Twenty years ago, the big premiums were paid for commuter houses in, for instance, Hampshire where people could commute into the City or Canary Wharf. These still command a premium but with many being able to work one or two days a week at home, ‘commuting’ now goes right down to Devon or up to Yorkshire. And the areas nearer London are becoming increasingly international with Russians being big buyers, particularly on the likes of St Georges Hill.
Buyer expectations in 2017
Standards have changed. Big, drafty, cold houses that the traditional English buyers were conditioned to living in are not the current zeitgeist. Easy maintenance and modern comforts and luxuries are now the norm and command a premium.
Are you a country agent looking to reach out to the London market? Reach a network of London agents with 100’000s of registered applicants - find our more here.
Read part 2 of our country market blog here as David Williams, Director at The Grantley Group discusses the shifts in buyer behaviour in the London to country markets.
As seen in our Residential Review Summer 2017 issue – read more here.
About the author
Co-Founder, Property Vision
A graduate of Oxford University, Charlie spent four years in Hong Kong before co-founding Property Vision with a friend. Together they spent 20 years building a highly successful company which they sold to HSBC in 2001. The management bought it back in 2012 creating the Property Vision we recognise today – a byword for prime London property finding.
Charlie is a board member and Trustee of the Cadogan Estate as well as a director of a number of other smaller property companies.