Is the countryside bubble truly over?
Tom Hudson, Founding Partner and Head of Estates and Special Projects, recently sat down with Country and Town House’s Anna Tyzack to explain where the countryside market sits now that we are ‘post-pandemic’.
Those worried that the call back to the office will kill the country market, needn’t worry. While those with a desk in London will be less inclined to buy in places such as Penzance, countryside living and commuting into the city is still a flexible option for most workers. “The countryside appeals for all the same reasons it did during the pandemic and commuting is only getting more comfortable – the Elizabeth Line, for example, has made travelling to London much easier from Berkshire and the surrounding areas,” insists Tom.
In addition, homeowners in the countryside are less inclined to sell than ever, Hudson explains, due to high stamp duty costs and the lack of anywhere decent to move to, which can lead to overvaluing as estate agents compete for new stock.
“Debt is small enough that the mortgage crisis isn’t making a big difference. There might be a few strategic sales, particularly around the coast where people have overstretched themselves for a second home, but for the most part, people will sit on their hands rather than trade for a lower price.”
Read the article here.