Record levels of offers accepted post-lockdown: Knight Frank

Its data shows that the number of offers accepted outside the capital in the week to 6th June was the highest on record, and up 52% compared to the five-year average. In London, the figure was 34% above the five-year average and the third highest weekly figure this year.

Additionally, the number of new prospective buyers continues to increase. For markets outside London in the week ending 6th June, the figure was the highest it has been since May 2018 and was 14% ahead of the five-year average. In London, the number was 54% ahead of the five-year average but lower than levels recorded at the start of this year when the post-election bounce had an impact.

The average discount to the asking price for sales outside London is 1.2% since the market re-opened, compared to 2.4% during the market lockdown. In London, the average discount has narrowed to 5.5% from 6.4% over the same period.

Damian Gray, head of Knight Frank’s Oxford office, commented: “Enquiry activity has been extraordinary. I’ve never been contacted by so many people that want to live outside London.

“Vendors are generally listening to advice and a lot of the property being brought to market now is being priced more realistically. Buyers meanwhile are happy to pay the right amount and go for it.”