A dramatic increase in home buyers currently living in some of the biggest UK cities, including London, are already making plans to escape to the country, with enquiries across July and August increasing massively compared to the same period last year.
The number of enquiries from London buyers looking for a village lifestyle has almost tripled compared to last year. Commuters seeking village and rural properties around Grantham have increased by 282%, and Newark, up 251%. Lincoln has seen not only a significant increase in buyers from outside the East Midlands, but Mount & Minster have registered a significant increase of residents currently residing within the Cathedral City of Lincoln itself, who are now looking to live in one of the nearby country villages.
Mount & Minster estate agents are known locally and nationally for specialising in the sale of sought-after, country homes throughout Lincolnshire, Nottinghamshire and Leicestershire.
Where are buyers escaping to?Most of the top village destinations that people in cities are moving to are still within a commutable distance to their city, but with the appeal of a quieter and safer way of life. Rural areas have proved more resilient to Covid-19 and the extra space makes the prospect of a future lockdown far more manageable.
For many, the move doesn’t appear to be driven by a desire to save money as the average asking prices are higher than where they currently reside (London of course being the exception). It may be that homeowners living in these cities have benefitted from strong house price growth over the years and are now able to trade up and out to the country.
Grantham villages proving popular include Barrowby, Harlaxton, Bottesford, Ancaster, southern Cliff Villages such as Barkston and Sudbrook, as well as eastern Vale villages such as Croxton Kerrial and Denton.
Newark villages include Coddington, Winthorpe, Long Bennington and Kelham.
Rural villages around Lincoln seeing a significant increase in demand include Nettleham, Welton, Sudbrooke, Branston, Heighington, Bassingham, Navenby and Swinderby.
What's next for the property market?August has seen a very buoyant market and we expect this to continue into September. Households with children back from school have been very busy the last few months and the return of the school timetable in September will give these buyers the chance to get the ball rolling, with more properties coming onto the market and giving purchasers more time to look for their new home.
For those wishing to make the most of the tax breaks, it's also a race against time to get your house successfully acquired by March 2021. Solicitors are taking three months plus at the moment to get the conveyancing completed. This means that offers need to be accepted and solicitors instructed by December. September is three quarters through the calendar year, so time is short!