The Rules Change in the Ongoing London Exodus; the Rules for Those Embarking on the Popular London-to-Country Move Have Changed. Mark Wiggin of Strutt & Parker Considers the Options PROPERTYEXPERT
Byline: Mark Wiggin
The migration of property owners from London to the country is a long-established phenomenon, particularly for growing families who want a slice of the rural lifestyle. This urge to move is a very in?uential factor in the market and is hugely important factor in keeping London and country sales ticking over.
As families expand, demand for space increases, and children prepare to move school. City dwellers start their calculations - for example, how much they can get for their money against the length of a commute.
Some will have a speci?c destination in mind. Others will need expert guidance on which areas ful.l their important criteria.
But while this traditional exodus has traditionally underpinned the country property market, particularly in the Home Counties, the rules have now changed in one important respect. Thanks to the current disparity between the quick?re London market and the more hesitant out-of-London scene, London buyers in a good property are now considered by sellers in the countryside as a good prospect and are securing exclusivity deals even before instructing an agent on their own sale.
Provided their own home is a good prospect, the speed at which transactions are being done in London means that they can be considered proceedable. Many sales are now being started on this basis.
For vendors in the country considering accepting offers of this kind, it is essential to be with an agent who properly understands a buyer's situation. …