The ‘escape to the country’ trend has ‘evolved to a more urban focus’

“The search for space is far from over but the trend has a more urban flavour now,” says Knight Frank research chief Tom Bill. “After an initial spike in demand for rural locations following the first national lockdown, the appeal of towns and cities is growing as buyers plan for life after lockdown and some attempt to capture the best of both worlds.”

Mortgage approvals dip but remain high

Encouraged by the temporary Stamp Duty holiday, individuals borrowed an additional £6.2 billion secured on their homes in February – the highest net mortgage borrowing level since March 2016 (£7.2 billion, when borrowing was also boosted by changes in Stamp Duty).