‘Down From London’ Crowd Flee Cities, Send British Country Estate Sales Soaring
Fri, 11/13/2020 – 02:45
Following trends in York City, San Francisco, Los Angeles, and Chicago, wealthy so-called ‘Down-from-London’ers have reassessed their living situation in urban areas and moved to the countryside due to the virus pandemic.
Bloomberg reports Londoners who generally have a large house in the London metro area and a cottage in the suburbs have flipped tradition upside down, with their principal residence now in the country, opting for a smaller flat in the city. They also said, “the global rich triggered a 1,900% sales surge for UK country estates this year.”
Crispin Holborow, country director of Savills’s Private Office, said exits to the countryside are due in part to strict virus lockdowns. He said a “staggering” 19 country estates (with values over £15 million) in the UK have sold or are under contract in 2020, as the previous year only five sold.
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