Town or Country? - Finding your next home
Knight Frank analyst Chris Druce discussed the rollercoaster year prime property has experienced in both the UK and abroad and the drivers behind it.
Key talking points:
- Strong demand for space and tight supply has supported strong price growth in the lead up to the stamp duty holiday deadline.
- The time a property spends on the market from listing to having an offer accepted has halved in the past year.
- While the rural market has enjoyed a record-breaking year, activity levels have remained high in London with suburban areas offering more space and greenery performing strongly.
- Areas to consider for investment: W2 in London and the East of England outside the capital, which both offer good relative affordability and are in demand.
- Working from home and the adoption of hybrid working is redrawing the traditional commuter belt.