The UK’s property market experienced a mini-boom during the pandemic, with house prices rising 8.5 per cent last year.
This was in sharp contrast to Britain’s wider economy, which was hammered by the fallout from the Covid-19 crisis as the country endured a series of lockdowns.
While a holiday on the stamp duty tax on property purchases has propelled the market upwards, easier access to mortgage finance and a lockdown-induced desire for more space outside major cities also played their part.
But strict travel restrictions, which prevented wealthy buyers from jetting in to view homes, have dampened prices in recent months, particularly in London.
So, with travel curbs now easing, particularly in the UAE, what is in store for the UK’s property market now?
Host Alice Haine is joined by Henry Faun, partner and head of Knight Frank’s Middle East private office, who outlines the extent to which pent-up demand from the region will affect British house prices.