People leaving London embrace the country life by purchasing expensive homes in the exclusive village of Sunningdale in Berkshire.
Realtor Savills says there has been a 14% increase in the number of agreed sales in Windsor and Maidenhead in the first two months of 2021 compared to the same period in 2020, and one in three buyers are moving from London.
One factor is that there are 32% fewer homes on the market compared to last year, which means a real battle between buyers.
This led to a 4.4% increase in prices for Sunningdale’s already formidable homes, with the average price currently being Â£ 975,334, according to Rightmove.
The village is in the royal district of Windsor and Maidenhead, where the average price is Â£ 643,000.
Savills expects prices in the south of England to rise 5% and 18.2% over the next five years.
Charlie Fisher, Home Sales Manager at Savills Sunningdale, says, âLockdown 3.0 has done nothing to slow the pace of the housing market. New sales agreed to remain well above the pre-pandemic norm, as do mortgage approvals.
âSunningdale, Windsor and the surrounding area have long been an attractive destination for shoppers leaving London in search of the country lifestyle in the suburban belt.
“However, that only happened at the start of this year – many now realizing that they may only be in the office two or three days a week and are drawn to the offer to go to the station. from Waterloo in less than 60 minutes by train.
âHowever, there have also been a considerable number of local buyers looking to expand. In a year where we’ve all spent more time at home, it’s clear that people continue to take the time to think about what they want and whether there are any changes that could be made.
âThe country homes have proven to be very attractive and we expect this to continue as the foreclosure restrictions are eased.
Sunningdale and Windsor have seen a 64% increase in sales this year, with buyers in London rising from 26% in 2020 to 35% in the first months of 2021.
Mr Fisher added that families were looking for space and a good-sized garden for life in the capital.
He said: âOver the past year we have seen families grow up concerned about the space and quality of garden size they can get in the area compared to London.
âIn some cases, people choose to invest more in buying attracted to the big schools and eager to make the region their home forever.
âWe have also seen families who have kept property in London and rented in the area for the past few years because they were concerned about Brexit – we have seen several cases of tenants starting to buy in the area in doing road tests the lifestyle works for them.
“And that being said, there is still a strong element of the local population who want to stay in the area and make the movement for more space after reassessing their priorities during the lockdown.”