Hungerford View Property Market Focus - Autumn 2012 2 Hungerford View WELCOME

Welcome to Hungerford View, our seasonal update on the property markets that matter to you. Together with a snapshot of activity in West Berkshire, South Oxfordshire, North and North/East Wiltshire, we discuss what’s happening in the wider country house market and how it is affected by the Nick Loweth booming central London market. Office Head T +44 (0)1488 682 726 We also outline how important it is to have risen by 48%. For example, a [email protected] expose your property to as wide an property valued at £1.8 million in prime audience as possible, and give you a central London in early 2009 would 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% The significant gap in price discount, and Europeans can save performance between the country more than 20%. market and the booming prime central London market does however present The growing interest from London an opportunity for the country market, buyers is demonstrated by the with some London homeowners emergence of a number of country cashing in on the record-high values in 'hotspots' bucking the overall the Capital to get more property for downward price trend, many of which their money in the country. are close to or within commuting distance of London. Property prices in Prices in the country house market are Oxford, for example, rose by 2.5% in now just slightly higher than in 2009, the second quarter this year, while while prices in prime central London Henley saw a 0.5% rise.

Where do our buyers live? Sales by price band

London 30% under £500 15% Rest of UK 33% £500k to £750k 21% South East 37% £750k to £1m 25% £1m to £1.5m 13% £1.5m to £3m 20% over £3m 6%

* Figures reflect activity up to and including Q2 2012. Hungerford 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

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The farmhouse and old rectory market has had more diversions this year than I can remember; the Euro-Zone, Jubilee, diabolical weather and Olympics, creating uncertainty which ensures that the market sits on its hands. Whilst conditions have not been ideal, sales have taken place and our turnover is down by just 3.5 % in Nick van Zeller comparison to last year. The large country house and agricultural Residential Country Business - Head T +44 (0)1488 682 726 estate market has been strong and has been highlighted by some [email protected] extraordinary sales.

PROPERTIES FOR SALE

Ogbourne Maizey Inkpen Grade II* Listed Jacobean Manor A wonderful country house set within A charming house in a stunning formal mature gardens woodland estate

Guide Price £1,300,000 Guide Price £3,750,000 Guide Price £3,700,000

Broad Chalke Savernake Classic Grade II* Listed village house An opportunity to build Seymour Place A well-proportioned spacious country with gardens down to River Ebble house with stunning rural views

Guide Price £2,850,000 Guide Price £3,000,000 Guide Price £2,500,000

SOLD PROPERTIES

Newbury Burbage Hurstbourne Park Grand living A very well-presented farmhouse in the A spacious family home set within a Pewsey Vale wonderful Grade II Listed park

SOLD SOLD Guide Price £2,350,000 SOLD Guide Price £2,500,000 Hungerford View 5 Larger Country Houses

With the European crisis continuing, bad weather conditions since late March, The Golden Jubilee and now the Olympics, our market has been somewhat 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 Ed Cunningham urgency. We are hoping for a more active autumn market after the Partner T +44 (0)20 7861 1080 success of London 2012. [email protected]

Monxton An immaculate, modern country house 5 bedroom house in picturesque Family house with land, close to good in glorious surroundings riverside setting schooling

Guide Price £3,500,000 Guide Price £2,650,000 Guide Price £2,250,000

Ham Pill Heath Clench Pure enchantment with stunning Queen Anne-style gem with dramatic Once in a lifetime opportunity to build backdrop views or extend

Guide Price £4,500,000 Guide Price £4,500,000 OIEO £1,850,000

SOLD PROPERTIES

St. Mary Bourne Boxford Ibthorpe House Excellent family house in the Bourne An immaculately presented listed Carolean Splendour in the Bourne Valley house with fine views Valley

SOLD Guide Price £2,500,000 SOLD Guide Price £5,350,000 SOLD Guide Price £3,500,000 6 Hungerford View Country Property

Whilst house prices across the country are down 1.5% on an annual basis, the news is not all doom and gloom as prime central London prices have climbed consistently and dramatically, they are now 48% higher than the trough of the market in early 2009. This is relevant as this part of the world is viewed as easily accessible to London and Nick Loweth there are still a number of serious buyers that want to secure a Office Head T +44 (0)1488 682 726 property in this area, who are complaining about the lack of stock. [email protected] Interestingly, so far this financial year we have achieved 93% of guide prices, compared to 98.21% last year.

PROPERTIES FOR SALE

Vernham Dean Milton Lilbourne Weston A beautifully presented and listed A rare opportunity to create a small A large barn conversion with excellent village house country estate access to Newbury station

Guide Price £675,000 Guide Price £2,250,000 Guide Price £1,475,000

Letcombe Regis East Hendred Hampstead Norreys A fine village house An extraordinary house with land, A delightful and spacious village buildings and a vineyard house with excellent access to London

Guide Price £1,650,000 Guide Price £1,900,000 Guide Price £1,750,000

SOLD PROPERTIES

Severn Barrows Ramsbury Stunning views and good access to A delightful house with far-reaching Wonderful village house with annexe the M4 views and good access to stations and attractive garden

SOLD Guide Price £1,650,000 SOLD Guide Price £975,000 UNDER OFFER Guide Price £1,150,000 “Thank you again for doing such a great job in such a short time. Everyone in the office was so efficient and it was a pleasure dealing with all of you. We were extremely pleased with the professional way in which Knight Frank led the marketing, negotiating and sale process.” Mr and Mrs Boyd, East Gate Cottage

Hurstbourne Priors Little Bedwyn Savernake Beautiful gatehouse set in an idyllic A delightful Victorian property with A house with a separate annexe in a rural location additional accommodation and land lovely setting

Guide Price £895,000 Guide Price £1,100,000 Guide Price £950,000

Ogbourne St. George Shillingford Ramsbury Wonderful views over its own land Close to Oxford with a boathouse and Traditional and contemporary in the cottage same house

Guide Price £1,000,000 Guide Price £2,600,000 Guide Price £1,750,000

Vernham Dean Hamstead Marshall Adbury A beautifully presented family house in Enviable location and position, with Charming period cottage in idyllic rural a highly popular village planning consent to extend setting

SOLD Guide Price £725,000 SOLD Guide Price £850,000 SOLD Guide Price £675,000 8 Hungerford View Country Property

With a productive start to the year, the spring and early summer markets were particularly difficult and unsettled. The uncertainty with the Euro and the long spells of miserable weather did not help. That said, in some cases healthy competition has led to bidding in excess of guide prices and as always good quality, sensibly priced stock Rob Wightman inevitably sells. We are hoping the autumn market, post Olympics, Partner MRICS T +44 (0)1488 682 726 proves to be more buoyant. [email protected]

PROPERTIES FOR SALE

Chapel Row Stype Marlborough Elevated house with rural views and A substantial family house with annexe An exceptional Marlborough town access to Elstree and good schools near Hungerford house with views

Guide Price £1,125,000 Guide Price £1,175,000 Guide Price £1,750,000

Speen Tockenham Ogbourne Maizey Meticulous Edwardian classic A beautifully presented and private Quintessential thatched cottage in half former farmhouse an acre, close to Marlborough

Guide Price £2,250,000 Guide Price £1,400,000 Guide Price £675,000

SOLD PROPERTIES

Appleshaw Mildenhall Letcombe Regis Wonderful edge of village family house Private rural location with stunning Charming village property near views near Ramsbury Wantage with wonderful garden

SOLD Guide Price £1,750,000 SOLD Guide Price £895,000 UNDER OFFER Guide Price £750,000 “No stone left unturned, constant evaluation of viewings, chasing the trail of interest with consistent and professional skill. In a complicated situation and after a barrage of ridiculous valuations it was wonderful to have a top quality team in charge to steer me through all the pitfalls.” Mrs G Hawkes, Durnsford Mill, Mildenhall

Compton Bassett Ogbourne St. George Codford A fabulous extended and modernised A magnificent family house with land Substantial family house with access family house close to Marlborough close to Marlborough to good communications

Guide Price £875,000 Guide Price £1,850,000 Guide Price £1,475,000

Lockeridge Ramsbury A beautiful and immaculate thatched A magnificent family house well placed Beautifully presented village house cottage close to Marlborough for schools and communications

Guide Price £580,000 Guide Price £1,750,000 Guide Price £650,000

Avebury Upavon Bucklebury Edge of village house with views, close Handsome village house close to A fine imposing family house with to Marlborough Pewsey wonderful views

SOLD Guide Price £895,000 UNDER OFFER Guide Price £895,000 SOLD Guide Price £2,225,000 10 Hungerford View Country Property

The spring and early summer markets were hampered by dreadful weather with record rainfall in April, May, June and the first half of July coinciding with what is usually the busiest time for country house sales. Many vendors put off their sale, which should lead to some new stock in the autumn. As ever, setting a realistic guide price is the key to generating William Marsden-Smedley viewings which in turn should lead to offers. Europe remains a concern Partner T +44 (0)1488 682 726 financially but any small boost in the UK economy would quickly increase [email protected] confidence and filter through to the property market.

PROPERTIES FOR SALE

Shalbourne Bishopstone The perfect village home A large period house with secondary Charming period country house set in accommodation attractive mature grounds

Guide Price £450,000 Guide Price £1,295,000 Guide Price £1,375,000

Kimpton Ramsbury Robert Adam designed Queen Well-presented family house close to Deceptively spacious cottage in Anne-style house first class communications Ramsbury

Guide Price £4,650,000 Guide Price £850,000 Guide Price £475,000

SOLD PROPERTIES

Little Bedwyn Shalbourne Shalbourne An attached house with great potential A superb opportunity to build a new A pretty village cottage with large and beautiful gardens home in Shalbourne garden close to Hungerford

SOLD Guide Price £895,000 SOLD Guide Price £250,000 SOLD Guide Price £775,000 “Knight Frank lived up to its reputation as a top class estate agent with good quality clients and excellent work!!” Mr and Mrs Bell, previously of Garden Cottage, Wiltshire

Manningford Abbots East Hendred Upavon A superb building plot with excellent A private and substantial Grade II Listed A perfect village house with access to the Paddington line house, with separate cottage double-bank fishing

Guide Price £995,000 Guide Price £2,000,000 Guide Price £1,750,000

Milton Lilbourne Upper Lambourn Shefford Woodlands Pretty property in a popular village with Delightful cottage with planning A period cottage with great character wonderful gardens permission to extend in a quiet location

Guide Price £695,000 Guide Price £765,000 Guide Price £575,000

Letcombe Regis East Hendred Lockeridge Wonderful waterside house on the An impressive Grade II Listed manor Wonderful edge of village house close edge of the Downs house set in one of the best villages to Marlborough

SOLD Guide Price £895,000 SOLD Guide Price £1,650,000 UNDER OFFER Guide Price £1,025,000 1 UK NETWORK

1 Aberdeen 20 Hereford 13 2 Ascot * 21 Horsham 3 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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20 19 28 5 6 10 2 25 9 8 11 22 14 4 35 12 29 3 16 34 36 21 18 Hungerford 31 Ramsbury House, 22 High Street, 15 Hungerford, RG17 0NF +44 (0)1488 682726 KnightFrank.co.uk

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 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.