Sherborne View Property Market Focus - Autumn 2012 2 Sherborne View WELCOME
Welcome to Sherborne View, our seasonal update on the property markets that matter to you. Along with a snapshot of activity in Sherborne, we discuss what’s happening in the wider country house market and how it is affected by the booming central London market.
We also outline how important it is to have risen by 48%. For example, a Michael de Pelet, FRICS expose your property to as wide an property valued at £1.8 million in prime Office Head T +44 (0)1935 812236 audience as possible, and give you a central London in early 2009 would [email protected] glimpse of some of our properties in now be worth around £2.66 million, so the area, both for sale and sold. the owners would have an extra £864,000 to spend on a bigger country Country properties are growing in home or more land. favour with Londoners enjoying record prices in the Capital and overseas Furthermore, currency movements are buyers benefiting from currency helping to make country property even movements. more attractive to overseas buyers. Singaporeans can now benefit from a Average country house prices fell in 40% discount compared to prices back the second quarter of 2012, taking the in March 2008, thanks to the annual decline to 4.8%, according to combination of house prices and these the latest Knight Frank Country House currency movements. Those buying in Index. US dollars can benefit from a 34% discount, and Europeans can save The significant gap in price more than 20%. performance between the country market and the booming prime central The growing interest from London London market does however present buyers is demonstrated by the an opportunity for the country market, emergence of a number of country with some London homeowners 'hotspots' bucking the overall cashing in on the record-high values in downward price trend, many of which the Capital to get more property for are close to or within commuting their money in the country. distance of London. Property prices in Oxford, for example, rose by 2.5% in Prices in the country house market are the second quarter this year, while now just slightly higher than in 2009, Henley saw a 0.5% rise and Guildford while prices in prime central London a 0.2% rise.
What do our applicants want to spend? Sales by price band
under £500k 9% under £500k 24% £500k to £750k 31% £500k to £750k 24% £750k to £1m 16% £750k to £1m 19% £1m to £1.5m 17% £1m to £1.5m 16% £1.5m to £3m 14% £1.5m to £3m 11% over £3m 13% over £3m 5%
* Figures reflect activity up to and including Q2 2012. Sherborne View 3 Prime Central London
How a £1m investment made £407 a day, every day, for three years.
Prime central London property prices for around 10% of the £2m+ central reached a new high in June, but with London market between 2005 and 2010 values almost 50% higher than they and now account for 20% (2011 and were in March 2009, the rate of price 2012 to date). growth is beginning to slow. While this safe-haven factor continues Our index confirms that £1m invested in to support the market, we are central London property in March 2009 beginning to see resistance from would now be worth approximately buyers to ongoing price increases and £1.48m. This growth equates to an the difference between asking and average monthly appreciation of achieved prices is beginning to widen, £12,400, or £407 daily. Some market with the percentage of the asking price observers have questioned whether achieved having fallen from 96% in this strong price growth will continue. March to 92% in June.
Over the past few years international buyers have seen London property as a safe-haven investment in an increasingly volatile global economy. Evidence of this is the fact that European (non-UK) buyers accounted
Taking your property global
Knight Frank’s 244 offices spanning 43 countries mean that our properties receive interest from buyers around the world.
With most buyers starting their With 600,000 visitors a month to our struggle to find time to search online property search online, your home for website, people from around the world and would rather build a relationship sale has never had a wider audience. click through to Knight Frank property with a knowledgeable property expert. Most estate agents will have a direct details every five seconds, meaning feed to the ever-increasing number of that your property is exposed to the To view the website visit property portals, as well as displaying widest audience possible. Any of the search.knightfrank.com your home on their own website. 2.27 billion internet users across the world could be the right buyer for your However, to truly reach a global buyer home; so it makes sense that we make market and fulfil your property’s it as easy as possible for them to find it. potential, you need a global platform, which is why Knight Frank’s But it is not just digital media that is international network and pioneering important, only a comprehensive use of technology deliver a genuine presence in the international market competitive edge. Our global property that can truly give your home the search is now available in over 15 exposure it deserves. Our offices different languages, including German, around the world are constantly in Spanish, French, Russian and Chinese, touch and introducing buyers from one and our iPad and iPhone app means country to another. Whilst the internet that you can search for properties “near provides a valuable platform, we me” wherever you are in the world. understand that busy people can 4 Sherborne View Country property
The prime residential market in Dorset and Somerset has been very testing over this first part of 2012. We have been favoured with some excellent properties to sell. Viewings are down but the buyers are serious providing all their criteria are met. Luckily some successful sales have been achieved. Michael de Pelet, FRICS Partner T +44 (0)1935 812236 [email protected]
PROPERTIES FOR SALE
Hadspen Stalbridge Puddletown Stunning Grade II* Listed manor house Classic Grade II* Listed country house Historic manor house in the heart of on a magical estate within its own deer park Hardy country
Guide Price £13,000,000 Guide Price £7,750,000 Lot 1 Guide Price £4,950,000
Frome Vauchurch Shillingstone Rampisham Elegant family home with 2 bedroom A fine country house with 11 acres Grade I Listed former rectory in an cottage idyllic location
Guide Price £2,350,000 Guide Price £2,350,000 Guide Price £2,250,000
SOLD PROPERTIES
Sandbanks Brewham Galhampton Immaculate and luxurious living in A well-presented Grade II Listed family Fine country residence in wonderful Sandbanks house with Tudor origins grounds with far-reaching views
SOLD Guide Price £4,250,000 SOLD Guide Price £2,950,000 SOLD Guide Price £2,750,000 “The Sherborne office represent a dynamic and professional marketing team.” Ms M
Sandbanks Beaminster Swallowcliffe Luxurious masterpiece with views Country house set in 124 acres with Grade II Listed 16th century manor across Poole Harbour stunning views house
Guide Price £3,950,000 Guide Price £3,950,000 Guide Price £2,950,000
Affpuddle Sturminster Marshall Christchurch Grade II Listed farmhouse with barns, Grade II Listed former farmhouse with Grade II* Listed Georgian town house stables, outbuildings and land tennis court close to the sea
Guide Price £1,850,000 Guide Price £1,750,000 Guide Price £1,700,000
North Wootton Stoney Stratton East Compton A small country estate Handsome Grade II Listed house on Grade II Listed house with annexe, the edge of a delightful hamlet 2 bedroom flat and land
SOLD Guide Price £1,700,000 SOLD Guide Price £1,750,000 SOLD Guide Price £1,300,000 6 Sherborne View Country property
With the European crisis continuing, bad weather conditions since late March, The Golden Jubilee and now the Olympics, our market has been very limited. Best in Class continue to sell, with busy market conditions below £2m and above £6m for estates. Buyers are price sensitive and there seems to be no sense of urgency. We are hoping Ed Cunningham for a more active autumn market. Proprietary Partner T +44 (0)20 7861 1080 [email protected]
PROPERTIES FOR SALE
Glastonbury Stoke Wake Shipton Gorge Historic Grade II Listed town house An imposing family home with 24 acres Farmhouse with cottage, outbuildings next to Glastonbury Abbey and land
Guide Price £1,600,000 Guide Price £1,575,000 Guide Price £1,500,000
Thornicombe Blackford Glastonbury A modern house with annexe, Stunning Grade II Listed family house Grade II Listed Arts and Crafts town swimming pool and 5.5 acres with pool and gardens house
Guide Price £1,300,000 Guide Price £1,280,000 Guide Price £1,250,000
SOLD PROPERTIES
Mappowder Shaftesbury Beaminster Contemporary style house Grade II Listed house with easy access Elegant listed property close to to Shaftesbury town centre Beaminster town centre
SOLD Guide Price £1,125,000 SOLD Guide Price £1,150,000 SOLD Guide Price £1,100,000 “Knight Frank should take huge credit for such a satisfactory outcome.” Brigadier & Mrs H
Bratton Seymour Beaminster Beaminster Large farmhouse with stunning views, Splendid house sitting in its own Spacious 1930s house on the edge of cottage and 27 acres wonderful unspoilt land this popular village with 7 acres
Guide Price £1,450,000 Guide Price £1,350,000 Guide Price £1,350,000
Moorlinch Curry Rivel Stour Provost Cleverly designed 5 bedroom detached Grade II Listed edge of village house Edge of village house bordering the new house River Stour
Guide Price £1,200,000 Guide Price £1,150,000 Guide Price £1,150,000
Baltonsborough Somerton Bishops Down Grade II Listed farmhouse with holiday Impressive detached family home Pretty Victorian house cottage, outbuildings and land
SOLD Guide Price £1,100,000 SOLD Guide Price OIEO £1,000,000 SOLD Guide Price £900,000 8 Sherborne View Country property
The market between £400,000 - £1,000,000 has been a good part of our business over the past few months. We continue to gain more and more market share at this level and have successfully agreed a number of deals. We still have a good stock and buyers are becoming very price sensitive and need to tick all the boxes before taking a sale Simon Barker, MRICS forwards. Partner T +44 (0)1935 812236 [email protected]
PROPERTIES FOR SALE
Hornblotton Cerne Abbas Lower Odcombe A pretty Grade II Listed edge of village Grade II* Listed house in Cerne Abbas Grade II Listed house with annexe, farmhouse pool and tennis court
Guide Price £1,150,000 Guide Price £1,150,000 Guide Price £1,150,000
Thorncombe East Coker East Coker Grade II Listed edge of village property Attractive barn conversion with indoor Wing of a Grade I Listed house with ancillary accommodation pool and large sports hall
Guide Price £895,000 Guide Price £795,000 Guide Price £795,000
SOLD PROPERTIES
Broadwindsor North Cadbury Lower Bockhampton Grade II Listed house with annexe, Period house in an idyllic hamlet A detached home with 220 yards of outbuildings and 4.1 acres single bank fishing
SOLD Guide Price £750,000 SOLD Guide Price £750,000 SOLD Guide Price £725,000 “We are enormously grateful for the way in which they worked and highly recommend them.” Mr & Mrs M
Ryme Intrinseca West Stafford Wincanton Grade II Listed village property with The principal part of a Grade II Listed Grade II Listed Georgian edge of town detached 2 bed cottage former Rectory house
Guide Price £995,000 Guide Price £995,000 Guide Price £900,000
Lower Hadspen NORTH PERROTT Long Sutton Attractive barn conversion House, stables and land Attractive edge of village property
Guide Price £775,000 Guide Price £795,000 Guide Price £695,000
Holton Stalbridge Sandford Orcas Elegant Grade II Listed country house Attractive Grade II Listed house Attractive barn conversion in a popular wing conversion with 5.03 acres situated in pretty walled gardens village
SOLD Guide Price £695,000 SOLD Guide Price £675,000 SOLD Guide Price £575,000 10 Sherborne View Country property
The current differential between house prices in London and the South West has rarely been greater and in my view a country house in Dorset or Somerset presently offers real value for money for families looking to relocate for schooling and lifestyle reasons.
James McKillop, MRICS Senior Negotiator T +44 (0)207 861 1528 [email protected]
PROPERTIES FOR SALE
Milborne Port Redlynch Piddletrenthide Handsome and spacious village house Elegant apartment in a stunning Grade Grade II Listed thatched barn II Listed property conversion
Guide Price £695,000 Guide Price £685,000 Guide Price £665,000
Stalbridge POYNTINGTON Alton Pancras Attractive and immaculately presented Well-appointed village house Attractive detached family home family home
Guide Price £525,000 Guide Price £550,000 Guide Price £350,000
SOLD PROPERTIES
Kings Stag Nether Compton Cerne Abbas Wonderful family home with stables 4 bedroom cottage in popular village Excellent location in the centre of the and paddock village
SOLD Guide Price £475,000 SOLD Guide Price £450,000 SOLD Guide Price £450,000 “In a difficult market they were pragmatic and dealt with difficult situations well.” Mr H
Broadschard Hambridge Stourton Caundle Attractive modern house with annexe Attractive and substantial detached Modern house with outstanding views house
Guide Price £625,000 Guide Price £595,000 Guide Price £535,000
Merriott Weymouth Milborne Port Detached edge of village house 4 well-appointed apartments with Immaculately presented village harbour views property
Guide Price £385,000 Guide Price £300,000 - £400,000 Guide Price £285,000
Sherborne Caundle Marsh Montacute 3 bedroom bungalow within walking Lovely 3 bedroom cottage bordering Detached 3 bedroom hamstone barn distance of Sherborne town centre open countryside
SOLD Guide Price £415,000 SOLD Guide Price £410,000 SOLD Guide Price £399,000 1 UK NETWORK
1 Aberdeen 20 Hereford 13 2 Ascot * 21 Horsham 3 Basingstoke 22 Hungerford 4 Bath 23 Lauder 23 5 Beaconsfield 24 Leeds 27 6 Berkhamsted 25 London † 7 Birmingham 26 Manchester 8 Bristol 27 Newcastle 9 Cardiff 28 Oxford 10 Cheltenham 29 Sevenoaks 11 Cirencester 30 Sheffield 12 Cobham * 31 Sherborne 17 13 Edinburgh 32 Stratford-upon-Avon 24 14 Esher * 33 Sutton Coldfield 15 Exeter 34 Tunbridge Wells 16 Guildford 35 Virginia Water 26 17 Harrogate 36 Winchester 30 18 Haslemere 37 Worcester 19 Henley-on-Thames 33 * Lettings Service † 19 offices across Central London 7
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KnowingKnowing thethe bestbest Knowing the sunniest Knowing the new owners hiding places have all this to come The sale is in the detail.
To hear more about why the Bowrys who will appreciate it as much as you do. This is why, when it was time for Keith and Sally chose Knight Frank, visit our website or call 020 3641 9565. “Knight Frank understood the property… our home is all about the setting”. KnightFrank.co.uk/FranklySpeaking
Important Notice This report is published for general information only and not to be relied upon in any way. Although high standards have been used in the preparation of the information, analysis, views and projections presented in this report, no responsibility or liability whatsoever can be accepted by Knight Frank LLP for any loss or damage resultant from any use of, reliance on or reference to the contents of this document. As a general report, this material does not necessarily represent the view of Knight Frank LLP in relation to particular properties or projects. Reproduction of this report in whole or in part is not allowed without prior written approval of Knight Frank to the form and content within which it appears. 1. Particulars: These particulars are not an offer or contract, nor part of one. You should not rely on statements by Knight Frank LLP in the particulars or by word of mouth or in writing (“information”) as being factually accurate about the property, its condition or its value. Neither Knight Frank LLP nor any joint agent has any authority to make any representations about the property, and accordingly any information given is entirely without responsibility on the part of the agents, seller(s) or lessor(s). 2. Photos etc: The photographs show only certain parts of the property as they appeared at the time they were taken. Areas, measurements and distances given are approximate only. Any computer generated images are indicative only. 3. Regulations etc: Any reference to alterations to, or use of, any part of the property does not mean that any necessary planning, building regulations or other consent has been obtained. A buyer or lessee must find out by inspection or in other ways that these matters have been properly dealt with and that all information is correct. 4. VAT : The VAT position relating to the property may change without notice. Knight Frank LLP is a limited liability partnership registered in England with registered number OC 305934. Our registered office is 55 Baker Street, London, W1U 8AN, where you may look at a list of members’ names.