Bounce-back in demand for high end housing

High-end country property prices have bounced back from the COVID-19 outbreak stronger than any type of housing in the UK, property firms have reported. Sales of £1m-plus homes rose by 66% from March 8 to June 21, according to Zoopla, while sales of homes priced between £500,000 and £1m only saw an increase of 17%. For £5m to £10m country houses, Knight Frank's figures show that, between May 13 and June 24, the number of offers accepted was 182% higher than the five-year average, compared to 64% for all the other price brackets. Reigate, Midhurst and Exeter are a hive of high-end activity, according to agents at Jackson-Stops. A £2.15m, seven-bedroom Victorian house sold by the agency in Redhill went under offer in two weeks after nine viewings, and a £1.5m five-bedroom home in Dunchideock, Exeter, had 13 interested buyers and sold in one week.

The Sunday Times