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Overseas buyers and tenants gear-up for UK return, predicts Knight Frank

The number of international buyers and tenants searching for UK property has reached its highest level since before the pandemic.

Almost a quarter (24%) of all web users looking at sales and lettings properties were based overseas in August, the highest figure since January 2020, Knight Frank web traffic data shows. The average figure in the 18 months to June was 17%.

Furthermore, the number of international web users looking at lettings properties in August exceeded those based in the UK for the first time since the start of 2020. Demand is coming from overseas students acting before the start of the academic year and returning corporate tenants as offices re-open.

“It’s more web traffic than air traffic at the moment but international demand is undoubtedly building,” said Tom Bill, head of UK residential research at Knight Frank. “As the feeling grows that the worst of the pandemic is behind us, normal service will resume in the UK property market and I expect overseas buyers and tenants to make their presence felt in the final quarter of this year.”

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