The latest research by lettings and estate agent, Benham and Reeves, has revealed that the number of foreign buyers entering the market across England and Wales has increased by 3.2% over the last year, although in some areas of the market this increase is as high as 18.8%.
Benham and Reeves submitted a Freedom of Information request to the Land Registry to ascertain the number of properties across each area of England and Wales with the title registered to an overseas correspondence address, combined with Gov data on properties registered with an overseas company.
The research shows that currently, there are some 280,021 homes registered to foreign homeowners, with individual homeowners accounting for 67% of these homes, versus 33% being owned by overseas companies.
This number has increased by 3.2% in the last year, with the North West (5.4%), the West Midlands (4.9%) and London (4%) seeing the largest increases of all regions.
London is also home to by far the most properties owned by foreign owners, with the 103,425 in the current market equating to 36.9% of all foreign owned homes across England and Wales.
This is more than double that of the next most prominent region, the South East, where 47,862 homes are currently registered to overseas owners or companies.
At local authority level, Dacorum has seen the largest annual increase up 18.8%, followed by Tameside (16.7%), Salford (12.8%), Tower Hamlets (12.2%), Slough (11.2%), Manchester (11.1%), Halton (10.8%), South Hams (10.8%), Sevenoaks (10.6%) and Maldon (10.5%).
However, where the highest volume of foreign owned homes is concerned, Westminster (16,667), Tower Hamlets (9,403) and Kensington and Chelsea (9,387) sit top of the table, followed by Liverpool (8,185) and Buckinghamshire (6,831).
Looking solely within the capital, Tower Hamlets has seen the largest annual uplift, with 12.2% more foreign owned homes versus a year ago.
Haringey has seen a considerable increase of 8.4%, while Wandsworth (7.9%), Hackney (7.3%) and Ealing (6.6%) also rank within the top five.
Director of Benham and Reeves, Marc von Grundherr, commented:
“With pandemic induced travel restrictions now a distant memory, foreign homebuyers are once again setting their sights on the property market across England and Wales and we’ve seen a consistent increase in demand over the last year.
London has traditionally been their destination of choice and the capital still ranks top of the table in terms of the sheer volume of foreign homeowners within the market. However, we are also seeing a strong uplift in market activity up and down the nation and there are comparatively very few areas where the level of foreign homeownership has dropped on an annual basis.
This diverse spread of activity from foreign shores is particularly welcome at a time when the domestic market has been cooling to a degree and should help to ensure that house prices remain robust and any fears of a market downturn are avoided.
We expect the level of foreign interest to continue to climb over the coming year as currently, many overseas buyers are dipping a toe within the rental market to try before they buy, committing to a purchase once they have found the right neighbourhood to suit their individual needs.”
REGIONALLY- Table shows the number of homes across England and Wales with a title registered to an
overseas corresponding address or to an overseas company, the combined total and annual change
Location
Individual overseas ownership titles
Company overseas ownership titles
Individual and company overseas ownership titles
Annual Change %
Proportion (%) of Eng and Wales total
NORTH WEST
29,837
10,713
40,550
5.4%
14.5%
WEST MIDLANDS
8,688
4,362
13,050
4.9%
4.7%
GREATER LONDON
62,256
41,169
103,425
4.0%
36.9%
NORTH EAST
5,086
2,511
7,597
2.7%
2.7%
SOUTH WEST
12,266
5,097
17,363
2.2%
6.2%
EAST OF ENGLAND
14,391
2,394
16,785
1.9%
6.0%
YORKSHIRE AND THE HUMBER
9,635
5,654
15,289
1.9%
5.5%
WALES
3,666
2,203
5,869
1.9%
2.1%
SOUTH EAST
33,093
14,769
47,862
1.7%
17.1%
EAST MIDLANDS
8,357
3,874
12,231
0.6%
4.4%
ENGLAND
183,609
90,543
274,152
3.3%
97.9%
ENGLAND AND WALES
187,275
92,746
280,021
3.2%
100.0%
LOCAL AUTHORITY – Table shows the number of homes across England and Wales with a title registered
to an overseas corresponding address or to an overseas company, the combined total and annual change
Location
Individual overseas ownership titles
Company overseas ownership titles
Individual and company overseas ownership titles
Annual Change %
Dacorum
371
165
536
18.8%
Tameside
455
189
644
16.7%
Salford
5038
1277
6,315
12.8%
Tower Hamlets
7012
2391
9,403
12.2%
Slough
292
156
448
11.2%
Manchester
4337
1518
5,855
11.1%
Halton
169
128
297
10.8%
South Hams
742
49
791
10.8%
Sevenoaks
721
143
864
10.6%
Maldon
78
38
116
10.5%
North Tyneside
295
155
450
10.3%
Solihull
260
159
419
10.3%
Knowsley
194
182
376
9.3%
Telford and Wrekin
176
93
269
8.9%
Medway
440
162
602
8.9%
Trafford
1255
356
1,611
8.9%
Birmingham
3287
1109
4,396
8.7%
Haringey
755
516
1,271
8.4%
Broxtowe
161
46
207
8.4%
Wandsworth
4060
2034
6,094
7.9%
Stafford
148
90
238
7.7%
Havant
131
66
197
7.7%
Eden
135
50
185
7.6%
Hackney
2086
875
2,961
7.3%
South Cambridgeshire
450
154
604
7.3%
Middlesbrough
291
127
418
7.2%
Fenland
154
73
227
7.1%
Oadby And Wigston
40
37
77
6.9%
Gateshead
286
162
448
6.9%
Bassetlaw
128
73
201
6.9%
Leeds
1703
1532
3,235
6.8%
Warrington
403
254
657
6.8%
North Kesteven
144
44
188
6.8%
Ealing
1334
936
2,270
6.6%
Wychavon
177
114
291
6.6%
Bromsgrove
95
51
146
6.6%
South Staffordshire
70
62
132
6.5%
Spelthorne
294
109
403
6.3%
Bracknell Forest
167
138
305
6.3%
Stockport
750
223
973
6.2%
Gedling
158
51
209
6.1%
Harlow
43
62
105
6.1%
Carmarthenshire
251
180
431
5.9%
Hammersmith And Fulham
2909
1405
4,314
5.8%
King’S Lynn And West Norfolk
209
131
340
5.6%
Rotherham
254
304
558
5.5%
Flintshire
116
135
251
5.5%
Barrow-In-Furness
120
35
155
5.4%
Rugby
161
100
261
5.2%
Great Yarmouth
119
44
163
5.2%
Malvern Hills
127
40
167
5.0%
Tunbridge Wells
354
149
503
5.0%
Derbyshire Dales
100
27
127
5.0%
Lambeth
2288
1763
4,051
4.9%
South Derbyshire
84
67
151
4.9%
Epping Forest
182
124
306
4.8%
North East Lincolnshire
158
69
227
4.6%
Wigan
457
436
893
4.6%
Ceredigion
112
51
163
4.5%
East Hampshire
250
106
356
4.4%
Somerset West And Taunton
234
148
382
4.4%
Barnet
1978
1223
3,201
4.4%
North Somerset
251
132
383
4.4%
South Oxfordshire
390
162
552
4.3%
Waltham Forest
432
218
650
4.3%
East Suffolk
526
133
659
4.3%
Sandwell
148
195
343
4.3%
Preston
481
219
700
4.2%
Harrogate
285
225
510
4.1%
Harborough
166
90
256
4.1%
Basingstoke And Deane
272
177
449
3.9%
Doncaster
290
265
555
3.9%
Enfield
458
319
777
3.9%
Cornwall
1411
536
1,947
3.8%
Cambridge
877
288
1,165
3.7%
Huntingdonshire
297
127
424
3.7%
Shropshire
407
187
594
3.7%
Rossendale
68
74
142
3.6%
South Lakeland
376
81
457
3.6%
Fareham
124
82
206
3.5%
Milton Keynes
701
305
1,006
3.5%
Gwynedd
282
44
326
3.5%
Adur
80
40
120
3.4%
North Hertfordshire
230
101
331
3.4%
Wyre
126
85
211
3.4%
South Gloucestershire
294
252
546
3.4%
Cherwell
269
187
456
3.4%
Craven
110
42
152
3.4%
Greenwich
1813
438
2,251
3.4%
Chichester
299
189
488
3.4%
Stockton-On-Tees
327
134
461
3.4%
Tewkesbury
267
73
340
3.3%
Thanet
266
170
436
3.3%
Bury
411
212
623
3.3%
Ipswich
191
122
313
3.3%
Cheshire East
702
341
1,043
3.3%
Lichfield
76
116
192
3.2%
Brent
1280
769
2,049
3.2%
Bedford
220
133
353
3.2%
Staffordshire Moorlands
72
57
129
3.2%
Merton
680
482
1,162
3.2%
Oxford
488
225
713
3.2%
Hyndburn
157
70
227
3.2%
Kingston Upon Thames
642
300
942
3.2%
East Devon
284
106
390
3.2%
Forest Of Dean
96
35
131
3.1%
Runnymede
391
234
625
3.1%
Cardiff
520
403
923
3.1%
Cotswold
333
190
523
3.0%
Walsall
196
188
384
2.9%
Islington
2053
1145
3,198
2.9%
Stoke-On-Trent
360
216
576
2.9%
High Peak
135
83
218
2.8%
Wyre Forest
110
72
182
2.8%
City Of Kingston Upon Hull
343
276
619
2.8%
Isle Of Anglesey
99
47
146
2.8%
Mid Suffolk
123
60
183
2.8%
Ashfield
234
97
331
2.8%
Harrow
732
410
1,142
2.8%
Hinckley And Bosworth
110
75
185
2.8%
Lancaster
305
176
481
2.8%
Oldham
383
246
629
2.8%
Newcastle Upon Tyne
673
524
1,197
2.7%
Lincoln
156
106
262
2.7%
Northumberland
426
181
607
2.7%
Herefordshire
281
104
385
2.7%
Wolverhampton
118
154
272
2.6%
Reading
574
286
860
2.6%
East Hertfordshire
218
136
354
2.6%
Camden
2308
2244
4,552
2.6%
Calderdale
431
208
639
2.6%
Sutton
624
225
849
2.5%
Erewash
196
47
243
2.5%
Stroud
173
71
244
2.5%
City Of Westminster
6315
10352
16,667
2.5%
Neath Port Talbot
143
65
208
2.5%
Test Valley
134
116
250
2.5%
Woking
197
138
335
2.4%
Hillingdon
658
436
1,094
2.4%
Watford
146
112
258
2.4%
Hambleton
230
74
304
2.4%
Swindon
282
246
528
2.3%
Sunderland
658
234
892
2.3%
Wealden
243
161
404
2.3%
Thurrock
119
199
318
2.3%
Kensington And Chelsea
4000
5387
9,387
2.2%
West Lindsey
93
44
137
2.2%
Brentwood
127
57
184
2.2%
Pembrokeshire
298
73
371
2.2%
Burnley
663
129
792
2.2%
Wokingham
364
150
514
2.2%
Mendip
294
82
376
2.2%
City Of London
625
1370
1,995
2.2%
Tendring
214
123
337
2.1%
Redditch
43
56
99
2.1%
St Helens
247
549
796
2.1%
Gravesham
104
48
152
2.0%
Barking And Dagenham
231
130
361
2.0%
Cheshire West And Chester
594
438
1,032
2.0%
Mansfield
78
77
155
2.0%
Bexley
200
163
363
2.0%
The Vale Of Glamorgan
142
66
208
2.0%
Wrexham
94
62
156
2.0%
Breckland
150
62
212
1.9%
Ashford
575
223
798
1.9%
Newcastle-Under-Lyme
233
87
320
1.9%
Dudley
255
121
376
1.9%
Newham
2394
781
3,175
1.9%
Barnsley
316
174
490
1.9%
Nuneaton And Bedworth
62
47
109
1.9%
Sefton
1664
298
1,962
1.9%
South Tyneside
187
87
274
1.9%
Monmouthshire
120
45
165
1.9%
Surrey Heath
118
157
275
1.9%
Bolton
652
360
1,012
1.8%
Kirklees
500
288
788
1.8%
East Staffordshire
88
82
170
1.8%
Brighton And Hove
919
514
1,433
1.8%
West Suffolk
299
223
522
1.8%
Amber Valley
96
79
175
1.7%
Southwark
2721
1321
4,042
1.7%
Charnwood
187
109
296
1.7%
Richmond Upon Thames
889
533
1,422
1.7%
Dartford
190
115
305
1.7%
Redbridge
491
183
674
1.7%
North Devon
375
68
443
1.6%
Torbay
334
109
443
1.6%
Blackpool
413
158
571
1.6%
Exeter
252
194
446
1.6%
Guildford
1014
205
1,219
1.6%
Warwick
192
132
324
1.6%
Swansea
283
239
522
1.6%
Windsor And Maidenhead
1053
333
1,386
1.5%
Wiltshire
1303
419
1,722
1.5%
South Kesteven
202
63
265
1.5%
East Cambridgeshire
105
162
267
1.5%
Dover
209
70
279
1.5%
Braintree
234
116
350
1.4%
Winchester
993
208
1,201
1.4%
Havering
1618
174
1,792
1.4%
Portsmouth
369
212
581
1.4%
West Berkshire
264
258
522
1.4%
St Albans
1292
147
1,439
1.3%
Crawley
554
145
699
1.3%
North Lincolnshire
135
98
233
1.3%
Waverley
261
129
390
1.3%
Lewisham
1325
471
1,796
1.3%
South Ribble
75
82
157
1.3%
Cheltenham
351
124
475
1.3%
Horsham
618
177
795
1.3%
North Northamptonshire
2615
272
2,887
1.3%
Babergh
99
63
162
1.3%
County Durham
1374
415
1,789
1.2%
Croydon
867
600
1,467
1.2%
East Lindsey
179
66
245
1.2%
Arun
309
191
500
1.2%
Bolsover
44
40
84
1.2%
Mid Sussex
285
139
424
1.2%
South Somerset
321
103
424
1.2%
Dorset
741
232
973
1.1%
Sheffield
1591
744
2,335
1.1%
Selby
97
88
185
1.1%
Bath And North East Somerset
664
170
834
1.1%
City Of Bristol
812
672
1,484
1.1%
Rushcliffe
126
62
188
1.1%
Blaby
56
41
97
1.0%
Swale
187
126
313
1.0%
Newark And Sherwood
154
59
213
0.9%
Reigate And Banstead
987
194
1,181
0.9%
Darlington
169
48
217
0.9%
North Warwickshire
751
123
874
0.9%
Liverpool
6708
1477
8,185
0.9%
City Of Plymouth
377
202
579
0.9%
Newport
103
129
232
0.9%
Wirral
779
265
1,044
0.9%
Isle Of Wight
442
151
593
0.9%
City Of Derby
392
206
598
0.8%
Basildon
159
86
245
0.8%
Colchester
313
826
1,139
0.8%
West Northamptonshire
387
377
764
0.8%
Castle Point
80
52
132
0.8%
Worthing
188
79
267
0.8%
East Riding Of Yorkshire
385
158
543
0.7%
Lewes
500
62
562
0.7%
Southampton
563
281
844
0.7%
Broxbourne
79
64
143
0.7%
Maidstone
419
155
574
0.7%
North West Leicestershire
54
96
150
0.7%
Ribble Valley
69
82
151
0.7%
Bradford
1592
415
2,007
0.7%
Rhondda Cynon Taff
177
143
320
0.6%
Leicester
480
551
1,031
0.6%
Caerphilly
105
75
180
0.6%
West Devon
126
58
184
0.5%
Hounslow
3761
1259
5,020
0.5%
Epsom And Ewell
121
65
186
0.5%
Mole Valley
1187
146
1,333
0.5%
Allerdale
129
63
192
0.5%
Rother
229
175
404
0.5%
Elmbridge
364
302
666
0.5%
New Forest
287
160
447
0.4%
Mid Devon
189
46
235
0.4%
Buckinghamshire
5997
834
6,831
0.4%
Chorley
89
164
253
0.4%
Bridgend
118
137
255
0.4%
Bournemouth, Christchurch And Poole
901
393
1,294
0.4%
Central Bedfordshire
2161
227
2,388
0.3%
Sedgemoor
217
109
326
0.3%
Tonbridge And Malling
818
177
995
0.3%
Hart
274
97
371
0.3%
Norwich
244
127
371
0.3%
Stratford-On-Avon
239
171
410
0.2%
Bromley
2717
316
3,033
0.2%
South Norfolk
362
107
469
0.2%
Eastleigh
389
86
475
0.2%
Wakefield
284
325
609
0.2%
Three Rivers
818
119
937
0.1%
Cannock Chase
65
78
143
0.0%
Fylde
133
104
237
0.0%
Gosport
97
29
126
0.0%
Hastings
162
73
235
0.0%
Isles Of Scilly
7
4
11
0.0%
Redcar And Cleveland
123
72
195
0.0%
Rushmoor
90
65
155
0.0%
Rutland
77
13
90
0.0%
Scarborough
248
56
304
0.0%
South Holland
97
75
172
0.0%
Vale Of White Horse
230
102
332
0.0%
Welwyn Hatfield
100
95
195
0.0%
West Oxfordshire
228
118
346
0.0%
Hertsmere
722
144
866
-0.1%
Tandridge
2872
153
3,025
-0.1%
Folkestone And Hythe
389
131
520
-0.2%
Rochdale
403
343
746
-0.3%
City Of Peterborough
327
389
716
-0.3%
Coventry
308
236
544
-0.4%
Conwy
263
107
370
-0.5%
Carlisle
122
53
175
-0.6%
Teignbridge
270
73
343
-0.6%
Gloucester
137
139
276
-0.7%
Luton
616
335
951
-0.7%
Chelmsford
505
132
637
-0.8%
Stevenage
77
42
119
-0.8%
Copeland
73
22
95
-1.0%
Tamworth
44
50
94
-1.1%
Blaenau Gwent
46
44
90
-1.1%
Southend-On-Sea
263
167
430
-1.1%
Denbighshire
112
59
171
-1.2%
Torridge
228
62
290
-1.4%
North East Derbyshire
114
26
140
-1.4%
West Lancashire
148
125
273
-1.4%
Uttlesford
123
72
195
-1.5%
Broadland
128
61
189
-1.6%
Canterbury
538
208
746
-1.6%
Worcester
139
72
211
-1.9%
Merthyr Tydfil
26
23
49
-2.0%
Blackburn With Darwen
271
111
382
-2.1%
North Norfolk
170
68
238
-2.1%
Torfaen
53
42
95
-2.1%
Eastbourne
259
120
379
-2.1%
Boston
61
18
79
-2.5%
Ryedale
80
35
115
-2.5%
Pendle
283
42
325
-2.7%
Rochford
71
31
102
-2.9%
Powys
203
34
237
-3.7%
Hartlepool
277
68
345
-4.2%
Melton
64
19
83
-4.6%
City Of Nottingham
935
680
1,615
-5.4%
York
508
242
750
-10.6%
Chesterfield
54
58
112
-16.4%
Richmondshire
95
36
131
-16.6%
LONDON ONLY – Table shows the number of homes across England and Wales with a title registered to an overseas corresponding address or to an overseas company, the combined total and annual change
Location
Individual overseas ownership titles
Company overseas ownership titles
Individual and company overseas ownership titles
Annual Change %
Tower Hamlets
7012
2391
9,403
12.2%
Haringey
755
516
1,271
8.4%
Wandsworth
4060
2034
6,094
7.9%
Hackney
2086
875
2,961
7.3%
Ealing
1334
936
2,270
6.6%
Hammersmith And Fulham
2909
1405
4,314
5.8%
Lambeth
2288
1763
4,051
4.9%
Barnet
1978
1223
3,201
4.4%
Waltham Forest
432
218
650
4.3%
Enfield
458
319
777
3.9%
Greenwich
1813
438
2,251
3.4%
Brent
1280
769
2,049
3.2%
Merton
680
482
1,162
3.2%
Kingston Upon Thames
642
300
942
3.2%
Islington
2053
1145
3,198
2.9%
Harrow
732
410
1,142
2.8%
Camden
2308
2244
4,552
2.6%
Sutton
624
225
849
2.5%
City Of Westminster
6315
10352
16,667
2.5%
Hillingdon
658
436
1,094
2.4%
Kensington And Chelsea
4000
5387
9,387
2.2%
City Of London
625
1370
1,995
2.2%
Barking And Dagenham
231
130
361
2.0%
Bexley
200
163
363
2.0%
Newham
2394
781
3,175
1.9%
Southwark
2721
1321
4,042
1.7%
Richmond Upon Thames
889
533
1,422
1.7%
Redbridge
491
183
674
1.7%
Havering
1618
174
1,792
1.4%
Lewisham
1325
471
1,796
1.3%
Croydon
867
600
1,467
1.2%
Hounslow
3761
1259
5,020
0.5%
Bromley
2717
316
3,033
0.2%
Data on number of homes registered to individuals with an overseas correspondence address sourced via a Freedom of Information Request to the Land Registry by Benham and Reeves. Figures are based on data received for January 2023 and annual change compares these figures to January 2022 Data on the number of homes owned by overseas companies sourced from Gov UK – Use land and property data
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About the Author
Established in 1958, Benham and Reeves is one of London’s oldest, independently owned property lettings and sales agents. With specialism in residential sales, corporate lettings and property management in prime areas of London, the company operates from 20 prominently located branches and 11 international offices.