Demand for country living
Despite an uncertain economic backdrop, the property market in the North West and West Midlands has been buoyed by an increase in demand for country living.
This has contributed to a remarkable recovery in the UK’s prime residential market activity levels since the surprise reopening of the housing market in England on May 13, but remains price sensitive.
Having fallen by 72 per cent in April, the number of agreed sales in the market above £1 million were 48 per cent higher than the weekly average for June 2019, according to latest data from TwentyCi.
Across the North West and Midlands we have noticed a strong increase in buyer commitment compared to before lockdown in the prime market, but also more generally too – particularly from London buyers.
The sentiment of buyers looking for countryside properties that provide more outdoor space and areas of the home that can be adapted for home working is reflected in the inquiries our agents have been fielding in our Chester, Knutsford, Wilmslow and Telford offices.
The increase in demand for village and rural properties comes at a time when they look pretty good value, their price growth having lagged behind their urban counterparts over the past decade.
Charlie Kannreuther, head of Savills residential sales in the North West and West Midlands
