There is little doubt about the strength of the property market in 2021. Unprecedented demand met a fractured supply, and prices were pushed sharply upward both in the Country and increasingly in Prime Central London.
Cotswolds Country houses leading the price charge adding nearly a quarter to their value over the last 12 months (23.5%)
As a buying agency we bought more houses for clients last year, than we ever have, often before they were launched on the open market and throughout all of the areas we cover; Prime Central London, the Home Counties, Hampshire, Wiltshire, Dorset, the South Coast, Oxfordshire and the Cotswolds.
However through the various lockdowns and flight restrictions, our international client base has been much reduced with many ex-pats from Hong Kong, Singapore or Dubai who typically use our services, having to delay their return home, and other international buyers registering their interest but simply not able to board a plane. It is perhaps reassuring that the UK prime property market has functioned well and indeed in some locations, boomed, purely on the back of domestic UK demand and that during such challenging times, the UK and London maintains its appeal in the eyes of international buyers.
We now head into 2022 with a healthy client list and a strong outlook on the market. Stepping away from the politics and focussing purely on UK property, we predict a continuation of this marketplace and where in 2021 any gaps were filled with almost exclusively domestic demand, in 2022 the domestic buyer will be joined by an increasing number of ex-pats returning home and international buyers flying in to London. All of which will be fuelled with an unexpected spike in City bonuses, following a (less reported) boom in corporate activity.
As the flights inevitably fill up and the bonuses are reported in the next few months, 2022 could be a very busy market indeed. Only the most proactive buyers, or those with the best buying agent on their side, will succeed!
