North American purchasers have become the fastest-growing overseas buyer group in Britain’s housing market, fresh analysis of Hamptons and Connells Group buyer registration data has revealed.

In Q1 2026, applicants from the United States and Canada accounted for 19% of all international buyers looking for property in Great Britain. This is up four percentage points year-on-year and 11 points higher than a decade ago. The data also shows a 13% annual increase in North American registrations, despite a 10% decline in overall international demand.

Hamptons attributes the trend in part to relative value perceptions in the UK market, particularly in London, alongside favourable exchange rates. While international demand overall has softened, North American interest continues to rise, with the UK increasingly viewed as a place to live rather than purely an investment destination.

European buyers remain the largest overseas group, accounting for 54% of international applicants. However, their share has fallen over the long term, down eight percentage points over the past decade, with weaker demand from buyers in countries including France and Spain contributing to the decline. Over the same period, North American demand has more than doubled.

There is no evidence of a recovery in Middle Eastern buyer activity. Applicants from the region accounted for 5% of overseas demand in Q1 2026, the lowest share since 2013 and down one percentage point year-on-year. Registrations fell sharply following the outbreak of conflict, with a 27% month-on-month decline and levels 58% lower than a year earlier. Hamptons notes that some buyers have delayed purchases, retained existing UK property, or shifted activity to other markets.

International demand patterns remain uneven geographically. London was the only UK region to record growth in overseas interest in Q1, with registrations up 8% year-on-year. The capital now accounts for 25% of all international enquiries, up from 21% a year earlier. This coincides with weaker price performance, with average values in London around 3% lower than in 2022 and Inner London down approximately 7% over the same period.

North American demand for London property has also increased, with 28% of applicants now searching in the capital, up from 24% a year ago and 17% five years earlier. However, interest has shifted away from prime central London, where just 5% of North American buyers are now focused, compared with 13% at the 2013 peak. Budget data suggests a widening gap between prime central London purchasers and those targeting broader London markets.

Outside London, international demand fell across all regions, with the sharpest declines recorded in Scotland, Wales and the South West.

The composition of overseas buyers continues to shift towards owner-occupiers. Over the past decade, the share of applicants seeking buy-to-let investments has fallen from 17% to 12%, while demand for second homes has dropped from 6% to 2%. In contrast, first-time buyers now account for 23% of international applicants, up from significantly lower levels a decade ago.

Among North American buyers specifically, 27% are first-time purchasers, while 10% are seeking investment property.

Aneisha Beveridge, head of research at Hamptons, said: “While international buyer demand has eased overall, Americans are bucking that trend. 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.”