Emma Stead of the real estate agency Savills in Fulham said April 12 was a turning point. “All of a sudden, the market starts to go up.”
Mark Ruffell of the Southbank branch of real estate agents Knight Frank said, “Within hours, it immediately became apparent how busy the phones were.”
Consumer demand so far is predominantly British and is mainly concentrated in areas with parks and large houses. Mayfair remains silent, Mr. Askew said.
Overseas buyers are constrained by international travel restrictions, but some are starting to take steps remotely before competitors arrive.
Thea Carroll, a purchasing agent, said the Middle East client had a deferred rate of £ 6.95m on a property, £ 1.7m below the asking price. The client waited to see the property before finalizing.
However, the weakening of isolation and the positive attitude towards the vaccine have sparked a flurry of competing proposals.
“For so long the market was completely quiet, you could hear the crickets,” she said. “The minute things were looking more positive, the owner’s representative called and said there were three competing proposals coming up for us.”
“International buyers are coming back,” said Ms. Carroll. “Britain is one of the few places in Europe where the coronavirus is under control.” The American buyer, who made millions by investing in cryptocurrency during the lockdown, is planning to make a purchase in Notting Hill soon. she said.
Others are scrapping measures to isolate the country as the economy recovers. Ms Stead added: “Last year we sold the house to someone moving out of London due to isolation. Last week he called and said he would be back because he doesn’t like commuting and won’t always work from home. ”
The factors that have alienated shoppers are offset by reopening as workers return to offices, children to school, and London bars and restaurants reopen. Mr. Askew said, “People were obsessed with Covid and now he is trying to get rid of it.”