Buyers who can’t afford high London prices looking further afield | Europe | News

Buyers who can’t afford high London prices looking further afield | Europe | News

Buyers who can no longer afford the steep prices of property in London are increasingly moving outwards and seeking new homes in the surrounding counties, the Cotswolds and even further afield.
The latest update report from The Buy Solution, the independent buying consultancy of Knight Frank, reports an unusually busy start to the year with several exchanges in the Southern and Home Counties regions.
The highest level of activity in the country market is in the £1 million to £2.5 million price bracket and the level of buyers coming out of London into the Cotswolds and Central region has increased in 2012.
It says there is an enormous demand for good size investment commercial land of 500 acres plus but this is in incredibly short supply. Also international buyers continue to dominate in the London market.
‘The international buyer continues to drive the markets in London and to a slightly lesser extent in the Home Counties, the real impact of the stamp duty increase remains to be seen but by and large, we do not believe that the extra 2% will make too much of a difference once the dust has settled,’ said  Philip Selway, managing partner of The Buying Solution.