The number of enquiries from US buyers for UK property is at its highest point since 2017, a report has said.
The latest analysis from Rightmove shows that the number of US enquiries for UK homes for sale is 19% higher than the start of last year.
This includes enquiries for those relocating from the US or buying a second home or buy-to-let (BTL) property in the UK.
Nearly half of people are looking for smaller two-bedroom or so homes, suggesting “investment activity or a second home apartment”.
Nearly a third are looking at three- and four-bedroom properties, implying relocation, Rightmove said.
The report noted that this trend was emerging as uncertainty around President Trump’s tariffs and their impact on the global economy continues.
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Scotland has taken the top spot from London as the most popular region to enquire about, potentially due to its lower price point.
Around 28% of US enquiries are about homes for sale in Scotland, compared to 26% for London.
Edinburgh has emerged as the most popular destination to enquire about, replacing Westminster, which is now in second place. Glasgow has also risen to fourth place, overtaking Kensington and Chelsea.
Colleen Babcock, Rightmove’s property expert, said: “President Trump’s tariff announcements have led to more economic uncertainty globally, and we’re starting to see some of the effects of this on the UK property market.
“Whether it’s because the UK is seen as a more stable investment opportunity, or whether some buyers are considering a permanent move across the Atlantic, we’re seeing an increase in enquiries from the US. While a really interesting trend, it’s important to note that only a very small percentage of all UK enquiries come from the US.”
Glynn Gibb, regional director at John D Wood & Co, continued: “We’ve certainly seen a steady rise in enquiries from American buyers in Prime Central London, particularly over the past 12 months. While it’s not a dramatic uptick, there’s a noticeable trend of high-net-worth individuals looking to move capital into what they see as a safe and stable market.
“For many US clients, London represents both a safe haven and a strategic investment. We’re seeing a number of politically motivated relocations – Americans who are seeking greater stability abroad. London’s culture and global connectivity make it an ideal springboard to Europe and beyond.
“Many are basing themselves here temporarily – often staying with friends – while they work out how long they plan to stay. For those expecting to remain less than five years, renting can often make more financial sense, especially when stamp duty is taken into account. We expect activity to build in the coming months – spring and early summer are typically busy – as more buyers make lifestyle and financial decisions shaped by the political climate in the USA.”
This article was first published on YourMoney.com‘s sister site, Mortgage Solutions. Read: US buyer enquiries for UK property hit eight-year high due to post-tariff uncertainty, Rightmove says