‘Lifestyle relocation’ gathering pace

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According to latest figures, sales of £1 million+ homes have soared since lockdown and particularly in Cornwall.

An average of 868 £1 million+ plus sales have been agreed each week across the UK since the beginning of June, 66% higher than the weekly average over the same period in 2019, new data from Savills and TwentyCi shows.

The south west has seen the biggest surge in demand, with sales in Cornwall up 66% on a year ago.

Lucian Cook, Savills head of residential research, who ran the analysis, said: “This points to a rebalancing of the market between London and the rest of the country. Whereas sales in London rose by 4% in the first nine months of the year, they are up 27% across the rest of the UK, albeit London still accounts for over four in ten sales with a £1m-plus price tag.”

Richard Brooks, head of south west residential, added: “Lifestyle relocation has been a big theme in the market since lockdown began to ease, and this is very clearly reflected in the numbers.”

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