The UK housing market has experienced remarkably high levels of activity over the summer.
Recent analysis from Knight Frank reports that while the overall picture for house prices is broadly flat, there has been a slight upwards movement in areas with more outdoor space and greenery. Prime outer London and prime regional markets will continue to benefit from stronger demand for outdoor space into 2021.
Sales of £1 million plus properties rose by 66 % from March 8 to June 21, according to Zoopla. For £5 million to £10 million country houses, Knight Frank’s figures show that, between May 13 and June 24, the number of offers accepted was 182 % higher than the five-year average.(Source Sunday Times/July 2020)
High value homes require premium insurance cover that includes features not included in standard policies. As a specialist insurance broker, Smith Greenfield recommends its clients consider some key points when selecting insurance for their home.
- Have an up to date and comprehensive rebuild cost assessment for your home. This will ensure you have sufficient cover to rebuild or repair your property should a problem occur. This is all-important for listed homes
- Choose a broker that provides an expert claims service, so that in the unlikely event of a claim, you are not left to negotiate a settlement on your own
- If you are intending to alter or extend your property, make sure your broker is experienced in arranging this type of cover. There are many contract forms and liabilities to consider
- Use a broker who understands your lifestyle and will make sure you have the freedom to use and enjoy your homes, whilst making sure they are fully protected
To discuss specialist insurance for your home and lifestyle, please contact Imran Moideen imran.moideen@smithgreenfield.co.uk or telephone 020 8603 3730.