Three Counties View Property Market Focus - Autumn 2012 2 Three Counties View WELCOME
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Three Counties View Property Market Focus - Autumn 2012 2 Three Counties View WELCOME Welcome to the latest edition of Three Counties View, our seasonal update on the property markets that matter to you. Along with a snapshot of activity in Herefordshire, Monmouthshire and Shropshire, we discuss what’s happening in the wider country house market and how it is affected by the booming central Anthony Clay London market. Office Head T +44 (0)1432 273087 We also outline how important it is to Prices in the country house market are [email protected] expose your property to as wide an now just slightly higher than in 2009, audience as possible, and give you a while prices in prime central London glimpse of some of our properties in have risen by 48%. For example, a the area, both for sale and sold. property valued at £1.8 million in prime central London in early 2009 would Country properties are growing in now be worth around £2.66 million, so favour with Londoners enjoying record the owners would have an extra prices in the Capital and overseas £864,000 to spend on a bigger country buyers benefiting from currency home or more land. movements. Furthermore, currency movements are The significant gap in price helping to make country property even performance between the country more attractive to overseas buyers. market and the booming prime central Singaporeans can now benefit from a London market presents an 40% discount compared to prices back opportunity for the country market, in March 2008, thanks to the with some London homeowners combination of house prices and these cashing in on the record-high values currency movements. Those buying in in the Capital to get more property for US dollars can benefit from a 34% their money in the country. discount, and Europeans can save more than 20%. since 1st april this year we have seen a resurgence of interest from london buyers, with over 45% of our buyers for properties over £750,000 moving from london. Where do our buyers come from? Sales by price band International 8% under £750k 43% Regional 20% £750k to £1.5m 34% London & South East 72% £1.5m to £3m 23% * Figures reflect activity up to and including Q2 2012. Three Counties 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 KNIGHT FRANK FINANCE In a recent survey, 94% of our clients said they would definitely recommend our services to a friend. Knight Frank Finance is dedicated to minimum deal size for new mortgages negotiating the most attractive or remortgages. property finance terms for clients from its established lender relationships, All consultants at Knight Frank Finance often securing deals unavailable are specialists in their field and are elsewhere. arguably the most respected team in property financing, enjoying excellent Subsequently, nearly half of relationships with high street lenders, the mortgage products sourced major financial institutions and private through Knight Frank Finance in 2011 banks. were not available on the high street. To find out more about how Knight Knight Frank Finance is able to offer Frank Finance can help with your advice on mortgages and loans for all property financing requirements please types of property, as well as other asset call us on +44 (0)203 641 9299 or visit classes. Whilst specialising in sourcing us at KnightFrankFinance.co.uk large mortgages there is however, no 4 Three Counties View HEREFORDSHIRE & MONMOUTHSHIRE 2012 is proving to be an interesting year. We have never had a better selection of houses at such competitive prices. There have been good sales, some at peak prices, though buyers remain discerning. Lending complications and lack of confidence are a hindrance though the Government appears determined to generate a market recovery. This, Anthony Clay along with inflation, will see prices rise. Office Head T +44 (0)1432 273087 [email protected] PROPERTIES FOR SALE Llangorse NR MONMOUTH Llangattock Lingoed Charming Grade II Listed Georgian Period country house with stunning Slightly tired late medieval manor vicarage tucked away in heart of village views house Guide Price £495,000 Guide Price £1,650,000 Guide Price £925,000 Hereford LlANTILIO CROSSENNY Hereford Elizabethan manor house in Cathedral A recently completed house in An astonishingly situated and city spectacular setting immaculate period house Guide Price £650,000 Guide Price £695,000 Guide Price £695,000 SOLD PROPERTIES NR Abergavenny Tidenham Tretire Country house in extensive grounds Spacious family house in beautiful Farmstead in beautiful rural setting rural yet convenient position SOLD Guide Price £2,000,000 SOLD Guide Price £850,000 SOLD Guide Price £650,000 “I trust them to do the best job. I thought they would achieve the best price for my property and having used them before, I knew them well. ” Mr D. Nr Ross on Wye TALYBONT-ON-USK Nr Abergavenny An impressive Grade I Listed Manor Majestically situated country house A stunning former Welsh Longhouse in house surrounded by beautiful gardens breath taking position Guide Price £2,250,000 Guide Price £1,200,000 Guide Price £700,000 NR CHEPSTOW Llangarron Llanddewi Skirrid A well-positioned handsome country Beautifully restored Grade II Listed A charming former Parsonage in house farmhouse stunning countryside Guide Price £1,250,000 Guide Price £1,175,000 Guide Price £795,000 Goodrich Pembroke Hereford A charming village house with grounds One of Pembroke’s most important An unspoilt period house dating to the houses 18th century SOLD Guide Price £620,000 SOLD Guide Price £995,000 SOLD Guide Price £450,000 6 Three Counties View HEREFORDSHIRE & SHROPSHIRE When you instruct Knight Frank to sell your house, we guarantee that it will receive the best possible coverage both regionally, nationally and internationally. A vital ingredient for success in a tough market and one which we are proud to be able to deliver. Jonathan Bengough Partner T +44 (0)1432 273087 [email protected] PROPERTIES FOR SALE Hereford Beckbury Leominster A substantial Victorian town house An historical house on edge of village A grand and beautifully presented and separate cottage period house in a commanding position Guide Price £465,000 Guide Price £795,000 Guide Price £800,000 Shifnal Llanwarne NR KNIGHTON Georgian elegance A substantial family home on the edge Spectacular border countryside of a peaceful hamlet Guide Price £795,000 Guide Price £875,000 Guide Price £750,000 SOLD PROPERTIES Cheswardine Leysters Wormsley A wonderful house with tremendous In the heart of rural Herefordshire with Paradise found with 360 degree scope views to Clee Hill country views SOLD Guide Price £595,000 SOLD Guide Price £800,000 SOLD Guide Price £1,500,000 “Knight Frank were impressive from start to finish on selling my house involving a complex land situation. I would have no hesitation in recommending their professionalism to friends.” Mrs H Market Drayton Lower Welson More A glorious outlook Two delightful houses with views to A wonderful house in Shropshire Hay Bluff Guide Price £775,000 Guide Price £695,000 Guide Price £875,000 Leominster Tenbury Wells Eyton A Grade II Listed Regency house of Spacious and light accommodation A wonderful Georgian country house in distinction with spectacular views a glorious rural location in 22.8 acres Guide Price £975,000 Guide Price £750,000 Guide Price £1,450,000 Breinton Bridgnorth Dilwyn Barn conversion to exacting standards A delightful cottage with stunning In the heart of rural Herefordshire with and imaginative design views stunning views SOLD Guide Price £500,000 SOLD Guide Price £475,000 SOLD Guide Price £695,000 8 Three Counties View THREE COUNTIES Country property represents good value and if properly priced, will sell well. Despite an uncertain economic outlook, we are experiencing strong demand in the mid market. Rising prices in central London are prompting many to cash in and make the move out of town. Charles Probert Senior Negotiator T +44 (0)1432 273087 [email protected] PROPERTIES FOR SALE Ledbury Hentland Bromsberrow A substantial period town house with An exquisite house refurbished with Beautiful Grade II Listed Georgian country views great imagination and flair family home Guide Price £750,000 Guide Price £985,000 Guide Price £1,950,000 Redmarley Longhope Lydney A half-timbered farmhouse with holiday A handsome and well-proportioned A 16th Century Grade II* Listed manor cottages, land and outbuildings family house with superb garden house with magnificent views Guide Price £1,175,000 Guide Price £795,000 Guide Price £750,000 SOLD PROPERTIES Rudford Ledbury Hartpury A substantial detached family house Spectacular panoramic views A substantial executive home with stunning views SOLD Guide Price £645,000 SOLD Guide Price £499,950 SOLD Guide Price £795,000 “throughout a very complex and difficult negotiation - Charles brought much needed common sense to proceedings.” Mr H.