There’s been a surge in UK enquiries to global free-to-list portal Residential People, and a comparable rise in interest from Chinese and Middle East buyers wanting UK city property.
Residential People, which has circa 950,000 property listings worldwide, says the increase from both directions comes following the greater market certainty produced by the December General Election and a clearer policy on Brexit.
The portal's director, Christopher May, says: "Following the bounce back of the market, the interest from overseas buyers in UK residential property is also making a welcome comeback.
"The UK property market has an enduring appeal to the global market and with a more certain political landscape and less doubt over the Brexit process, overseas demand for bricks and mortar here will continue to grow in the coming months.”
And he adds: ”If an agent's properties are also showcased to an audience of eager overseas investors, the chances of achieving quick sales at asking price or above are increased. By promoting to vendors on a market appraisal that their property will be broadcast across the world, agents can give themselves an edge and secure more all-important instructions.”
May believes that listing properties on websites with a global reach can give estate agents an edge over competitors, especially with competition between agents looks set to intensify in the coming weeks and months.
"More instructions and commission available means agents will be more enthusiastic about investing in digital marketing and recruitment in a bid to win more market share" he says.
"While this increased activity is positive for the industry, it provides the largest agencies with the opportunity to use their firepower to dominate the market.
"Therefore, at a time like this, independent and boutique agencies need to do all they can to keep pace with the competition and consider what differentiates their brand" he concludes.