Data analysis shows London gaining ground as wider international interest weakens
North American buyers have become the fastest-growing overseas group looking for homes in Britain, according to analysis by Hamptons.
The estate agency, using Connells Group buyer registration data, found that applicants from the United States and Canada accounted for 19% of all overseas-based buyers in the first quarter of 2026. That was four percentage points higher than a year earlier and 11 points above the level recorded a decade ago.
The number of North American buyers registering to purchase property in Great Britain rose by 13% year on year in the first quarter. This came despite a 10% fall in overall international registrations.
Hamptons said the figures reflected renewed interest in UK property, particularly in London, where prices and exchange rates have made homes appear more affordable to some overseas buyers.
European buyers remained the largest overseas group, making up 54% of international applicants. Their share was broadly stable compared with last year but eight percentage points lower than 10 years ago. Hamptons said the longer-term fall was partly linked to Brexit, with reduced demand from French and Spanish buyers contributing to the decline.
| Top 10 countries of origin for overseas-based applicants | ||||
|---|---|---|---|---|
| Country | Continent | Share of overseas applicants | Change | |
| Q1 2016 | Q1 2026 | |||
| United States & Canada | North America | 8% | 19% | 11% |
| France | Europe | 14.1% | 10.3% | -3.8% |
| Spain | Europe | 10% | 8.4% | -1.6% |
| Australia | Oceania | 4.3% | 5.8% | 1.5% |
| Ireland | Europe | 4.7% | 4.3% | -0.4% |
| Hong Kong | East Asia | 3.7% | 3.9% | 0.2% |
| Germany | Europe | 5.0% | 3.8% | -1.2% |
| Switzerland | Europe | 3.2% | 3% | -0.2% |
| United Arab Emirates | Middle East | 2.5% | 2.8% | 0.3% |
| Italy | Europe | 3.4% | 2.6% | -0.9% |
| Source: Hamptons research using Connells Group data | ||||
Demand from the Middle East has not recovered. Buyers from the region made up 5% of overseas-based applicants in the first quarter, the lowest share since 2013 and one percentage point lower than a year earlier.
Registrations from Middle Eastern buyers fell sharply after the outbreak of war, declining 27% month on month and standing 58% below March last year. Hamptons said some households from the region appeared to be delaying purchases, keeping existing UK homes, renting in the short term or choosing other countries.
London was the only region to record growth in overseas buyer interest in the first quarter. International registrations in the capital rose by 8% year on year.
The capital accounted for 25% of all international enquiries, up from 21% a year earlier. Hamptons said London’s slower price growth had helped improve its relative value. Average property values in the capital are now 3%, or £18,000, below 2022 levels, while Inner London prices are 7%, or about £50,300, lower over the same period.
Among North American buyers, 28% were searching in London, compared with 24% last year and 17% five years ago.
However, demand from this group is less focused on prime central London than in previous cycles. Hamptons said 5% of North American applicants were looking in prime central London, down from 13% at the market peak in 2013. The average budget for a North American buyer in prime central London was £2.35 million, compared with £1.25 million across London as a whole.
Outside London, international demand fell in every region. The largest declines were recorded in Wales, down 27%, Scotland, down 26%, and the South West, down 20%.
Change in the number of overseas-based applicant registrations (Q1 2026 v Q1 2025) 
Source: Hamptons research using Connells Group data
Hamptons also said the composition of overseas demand had moved away from investors and towards owner-occupiers. Over the past decade, the share of overseas-based applicants seeking buy-to-let property has fallen from 17% to 12%. The proportion looking for a second home has dropped from 6% to 2%.
First-time buyers made up 23% of international applicants in the first quarter, almost three times the level recorded 10 years ago. Among North American applicants, 27% were first-time buyers, while 10% were looking for an investment property.
“While international buyer demand has eased overall, Americans are bucking that trend,” said Aneisha Beveridge (pictured right), head of research at Hamptons. “For many, London is starting to look like relatively good value again, and we’re increasingly seeing people buying with a view to living here, not just investing.
“That shift is most obvious among younger movers. More overseas-based buyers are seeing London as a place to put down roots, including purchasing a first home, rather than a short-term investment.
“Elsewhere, the slowdown in international demand largely reflects higher stamp duty costs and a tougher tax backdrop, particularly for overseas investors. An international buyer purchasing a £1 million home in England would now face a stamp duty bill of £63,750, rising to £113,750 if they were buying a second home or a buy to let. Even as rental yields improve, those upfront costs are becoming harder to justify, pushing investment elsewhere.
“In the past, strong price growth, especially in London, helped offset those costs. Today, however, with weaker or falling prices across parts of the capital, many international households relocating there are choosing to rent instead. But even so, London continues to stand out as a compelling destination, with its culture, lifestyle and world class education drawing people here for more than just financial reasons.”
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