The number of properties in England and Wales owned by non-residents has tripled since 2010 – from 88,000 to nearly 250,000, according to new analysis by the Centre for Public Data. This is nearly 1% of all registered titles.
Three-quarters are registered to individuals with addresses in just 20 jurisdictions, including Guernsey.
Mortgage Sales Manager at Guernsey-based Skipton International, Lorraine McLean, said: “The UK is viewed by many as a solid, stable jurisdiction and many global investors are looking to the UK residential market. In 2019, we extended our UK mortgage proposition to include applications from non-UK nationals overseas, but we are now seeing steadily increasing activity from not only British expats but also other nationalities.”
In addition to supporting the local housing market, Skipton International also specialises in mortgages for the UK buy to let market.
The company said there has been particularly notable growth in titles registered in Northern cities like Liverpool, Manchester, Newcastle and Leeds, especially since 2016.