Forget the North-South divide – it s all about East versus West now
Rising evidence of an east-west divide is shaking up the property market. Could Norfolk be the new Cornwall? And Essex the new Oxfordshire?
26 June 2021 • 6:00am
Countless Londoners are clamouring for houses in the east and west of the UK, and it’s easy to see why
Credit: Olivia Whitworth
It didn’t surprise me when Karl Manning, head of residential sales at Savills Chelmsford, told me that sales in Essex in the first quarter of this year were up 167 per cent compared with last year.
Combine this with a lack of available properties, then add countless Londoners who are clamouring for houses to the mix and it’s easy to see why the roads and schools out in the east are slowly filling up.
Estate agents say there is little sign of the pace slowing even when the tax breaks reduce. Buyers appear to be attracted to the lifestyle the region has to offer, along with easy access to the countryside and coast and the relative value for money on the price of homes compared to elsewhere, they say. Transport links meant people could still commute easily into London making the region “highly desirable”, said Ms Howlett-Clarke.
“The most recent restrictions only appear to have reaffirmed people’s desire for more space and we’re not anticipating that to change any time soon. There is significant unmet demand in the prime markets which indicates that the desire to move to the country will continue beyond the end of June.”
A Grade I listed Tudor country house, a cottage up for auction and a bungalow with sea views, are some of the most viewed Norfolk properties currently on Zoopla.
Inside Hales Hall
- Credit: Savills
Last year the Johnstons offered up the entire Hales Hall estate - which includes nine acres, a moat and various other properties including a gate house and cottage - for holiday rent for £14,000 a week for 26 people or £10,500 for just the hall, for 14.
This was after wedding cancellations because of Covid.
However, Mrs Johnston said Covid had played no part in their decision to sell. She said: I can t pretend Covid hasn t been devastating, affecting last year s weddings and a key part of this year but we have a jam-packed calendar for the rest of the year.