Sellers to go to the suburbs, not the countryside - agency

A London agency is rejecting the suggestion that sellers are heading to the countryside - instead, it says they’re likely to move to the suburbs.

Cory Askew, Chestertons’ head of sales, states: “With lockdown restrictions continuing to ease and property prices in rural areas catching up, we expect an increasing number of house hunters to rethink their move to the countryside and opt for one of London’s outer zones instead. 

“Outer areas of London have been the main beneficiaries of the SDLT holiday and continue to squeeze the last drops of opportunity out of the incentive before the June 30 deadline with strong buyer demand still very evident across our London offices.”

Askew adds that even with new supply up 50 per cent compared to the same period of 2019, prices continue to rise with the highest demand by far for houses.

“Creating further urgency amongst domestic buyers to find a property in London now, is the anticipated return of international buyers as travel restrictions are starting to ease. Our offices in the Middle and Far East, for example, confirmed that their clientele is desperate to return to London.”

Comparing May 2021 with May 2019 - May 2020 being a lockdown washout - Chestertons says it’s registered a 78 per cent increase in new deals agreed, 38 per cent increase in new buyer enquiries, 50 per cent new listings, 39 per cent increase in viewings and 31 per cent increase in offers.