Buyers from the U.S. and Canada accounted for a record 19% of all overseas-based applicants searching for property in Great Britain during the first quarter of 2026—up from 15% a year earlier and more than double their share compared to a decade ago

North American buyers are taking an increasingly prominent role in the U.K. housing market, emerging as the fastest-growing group of international house hunters even as overall overseas demand cools, according to a report Monday from estate agency Hamptons.

Buyers from the U.S. and Canada accounted for a record 19% of all overseas-based applicants searching for property in Great Britain during the first quarter of 2026—up from 15% a year earlier and more than double their share compared to a decade ago.

Despite the growing presence of North Americans, overall international demand dropped, with 10% fewer foreign applicants registering to buy in the country than in the first quarter of 2025.

Though broadly unchanged from a year ago, demand from European buyers now stands 8% lower than in 2016, with much of the decline underpinned by reduced demand from French and Spanish buyers, who made up a far larger share of international applicants a decade ago, said the report, which cited the “lasting legacy of Brexit,” for the dropping interest.

London was the only area to buck the national trend and see growth in overseas buyer interest, with international demand for homes in the capital rising 8% annually in the first quarter.

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, Aneisha Beveridge, head of research at Hamptons, said in the report.

The average property in the capital is now 3%—or nearly £18,000 ($24,345)—cheaper than in 2022, while values in Inner London are down 7%, or nearly £50,300, over the same period, according to Hamptons.

A notable 28% of North American applicants were searching for a property in London, up from 24% a year ago, and buyers are increasingly favouring more affordable parts of London where their budget can stretch further.