Knight Frank, the UK's leading independent residential and commercial property consultancy, has announced a partnership with a US-based estate agency to work together on client referrals and cross-border activity between the US and international markets.
The partnership is set to benefit both parties by expanding their global reach and providing their clients with access to a wider range of high-end properties.
The luxury property market is expected to be a key beneficiary of the partnership, with Knight Frank's extensive knowledge of the UK market complementing the US estate agency's expertise in the US market.
In a statement, Knight Frank said the partnership would enable their clients to 'experience the world's most exceptional properties' and provide 'a seamless cross-border service'.
The UK property market has been experiencing a resurgence in recent months, with house prices rising by 9.1% over the past year, according to the latest data from Rightmove.
However, the market remains challenging for first-time buyers, with many struggling to secure a mortgage due to rising interest rates. The average UK house price now stands at £292,000, with prices varying significantly across different regions, with the North East being the most affordable and London being the most expensive.