Since the housing markets have reopened, and despite the uncertain economic backdrop, we have seen a surge in the number of sales being agreed across the UK. Those with the financial security to be able to move are acting on their changing priorities, their requirement for more space and, in many cases, a reassessment of their work-life balance.

Data from TwentyCI, which looks at activity across all of the main property portals, suggests that the number of sales being agreed in the four weeks to mid-August was higher than in the same period last year in 375 of the 378 local authorities across the UK. In 23 of those local authorities agreed sales were more than double the levels seen last year.

As the map below shows, the strongest demand has generally been through London’s commuter zone and some more rural lifestyle relocation markets.

Prominent on the list are St Albans, Guildford and Winchester, all classic London relocation markets that combine commutability, good schools and high-quality housing stock.

Even in these local authorities numbers of agreed sales will have been substantially boosted by activity in surrounding villages, with our agents reporting particularly strong demand from those who want the benefit of countryside living within striking distance of a bigger, well-serviced conurbation. These drivers have also supported demand in locations such as Broxbourne and East Hertfordshire.

Harlow, Stevenage and Colchester appear as lower cost alternatives, providing more affordable family housing for those with lower budgets.

Strong market activity in the South Hams (Devon), the Isle of Wight and Copeland (Lake District) reflects a surge in demand in traditional second home locations. Meanwhile the coastal areas around Lewes and Chichester have become increasingly attractive as people look to rebalance their lifestyle. 

Elsewhere, the Vale of White Horse in Oxfordshire and Ryedale in Yorkshire are testament to the increased demand for the best rural locations. But perhaps the biggest turnaround has been seen in Aberdeen and Aberdeenshire, markets where transactions were suppressed this time last year because of pressures in the local economy but households have seemingly become tired of putting their plans on hold.

Further information

Contact Lucian Cook

Contact Savills Research