Sales of luxury homes costing more than £1million in Dorset have doubled during the Covid-19 crisis as buyers flock from London, Hampshire and Surrey to the South coast.
Research by estate agents Savills says people have been driven away from the Capital during lockdown as they look for homes with big gardens and plenty of space from neighbours.
Almost a third of buyers were upsizing from within the area, while half were relocating to the county, with 19 per cent coming from London and 16 per cent from Hampshire and Surrey.
Among the properties currently up for sale in the southern county is a £1,995,000 property boasting four bedrooms, three bathrooms and two living rooms in Poole.
A Grade II listed property in Weymouth which dates back to 1815, complete with a separate two bedroom coach house with holiday letting potential, is on the market for around £1.5million.
This house in Poole has a guide price of £1,995,000. Research by estate agents Savills says people have been driven away from the Capital during lockdown as they look for homes with big gardens and plenty of space from neighbours
This Grade II Regency property is on the market for £1,550,000 in Dorset. Almost a third of buyers were upsizing from within the area, while half were relocating to the county, with 19 per cent coming from London
Dorset is home to Sandbanks, an exclusive peninsula in Poole which counts former football manager Harry Redknapp among its celebrity residents.
Ashley Rawlings, head of residential sales at Savills Wimborne, said: ‘Against all expectations, 2020 was an exceptionally busy year.
‘The pandemic encouraged people to think more about where they live and the attributes they most value in a home and there has been a clear demand from buyers, particularly in the family market.
‘Lifestyle relocation remains a big theme as people continue to reassess their work-life balance.
This former rectory in Dorset is for sale at £1,100,000 and is currently under offer. Its key features include ‘an elevated position within extensive walled gardens’, a ‘two storey detached coach house with planning permission’ and ‘large lawned gardens, double garage and outbuildings’
This Dorset home is currently under offer but was posted with an asking price of £1,995,000. Lucian Cook, Savills head of residential research, said: ‘Our expectation is that this further lockdown will make people more aware of the limitations of their existing home and increase their commitment to moving’
‘Those with future plans to move out of the county, or to move back to where they themselves grew up, have made the decision to do so earlier, making the most of being able to work from home and commute less frequently.
‘Now more than ever, buyers want somewhere with greater space, a large garden, easy access to the countryside and excellent schools.
‘The Dorset area of course has this in abundance, with property representing good value for money when compared to London. As a result, we have seen strong activity across the board.
‘The strong demand from buyers is still very much in evidence this year, though there is a clear shortage of stock following the large volume of sales agreed in 2020.’
Sales of luxury homes costing more than £1million in Dorset doubled in 2020, including on the Sandbanks peninsula at Poole, which counts Harry Redknapp among its celebrity residents
The surge has led to a small price growth.
The south of England region, which includes Dorset, saw an increase of 4.6 per cent last year.
Lucian Cook, Savills head of residential research, said ‘Our expectation is that this further lockdown will make people more aware of the limitations of their existing home and increase their commitment to moving, likely leading to pent up demand as seen after the first national lockdown early in 2020.
‘At the same time, however, the pool of those able to act on their desire to move will shrink so buyers and sellers will need to continue to remain pragmatic around pricing.’