What a difference a year makes

The country-house market has ridden the wave of this strange year in jubilant form

- Penny Churchill

THERE’S no question that it’s been a year like no other in the UK country-house market. An exuberant Lindsay Cuthill of Savills sums it up neatly, when he declares, ‘in terms of overall sales, 2021 has beaten 2007 into a cocked hat’. That’s not merely estate agents’ hype—Mr Cuthill backs up his statement with some solid facts and figures.

Based on Land Registry records for the first 48 weeks of 2021, compared with the same period of 2019, Savills Research identifies the top 10 local authorities in England that have seen sales of at least 40 properties valued at more than £2 million. Given that there are 333 local authorities in England and that London and other metropolitan areas are not included in the survey, the results are fascinating.

With 79 properties sold in 2021 compared with 21 in 2019, Wychavon, West Midlands, led the way with values of more than £2m; South Oxfordshire had 74 sales (24 in 2019); Teignbridge, in mid Devon, had 71 (20); St Albans, Hertfordshire, had 64 (15); Epping Forest, Essex, had 61 (19); York had 60 (20); Wiltshire had 52 (16); Wealden, Kent, saw 49 sales (11); followed by the Cotswold district with 47 sales (12), and the New Forest, with 46 sales (10).

In spite of travel restrictions, working from home, Brexit and the economic fallout from the global pandemic, London buyers led the charge in the race for country space. A chronic shortage of good houses for sale in the early part of the year, compounded by a cold April and a wet May that prevented photographers from going about their business, meant that it was early summer before the country market finally got up to speed.