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 , 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

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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 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 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 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 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 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.

Ledbury Twyning Churcham Picturesque farmhouse set within An attractive Grade II Listed farmhouse A most attractive barn conversion enchanting gardens and grounds set in 4 acres

Guide Price £1,200,000 Guide Price £795,000 Guide Price £430,000

Ross on Wye Ledbury Newent A rural smallholding with potential Exquisite Herefordshire gem, idyllic A substantial detached house of rural smallholding exceptional quality

Guide Price £695,000 Guide Price £1,325,000 Guide Price £675,000

Highnam mitcheldean Ripple A substantial and stylish detached A period Mill house of great character A fine Grade II Listed family home with family home of exceptional quality set in 7 acres immense character and charm

SOLD Guide Price £650,000 SOLD Guide Price £995,000 SOLD Guide Price £649,950 10 Three Counties View Farms & Fishing

Nationally Knight Frank has recorded bare farmland values to have risen by 4% over the past 6 months, with average values well in excess of £6,000 per acre. There is a good demand for farms and land within the region. We are regularly bringing buyers into areas that they would not have previously considered. This management of buyers is James Prewett producing excellent results with the last three sales having sold well in Head Regional Farm Sales T +44 (0)7917 052662 excess of the initial guide. [email protected]

PROPERTIES FOR SALE

Erwood Willersley Llandrindod Wells Escape to the Wye Valley Seclusion and salmon in the Wye Spectacular riverside location Valley

Guide Price £780,000 Guide Price £650,000 Guide Price £995,000

COUGHTON Wiltshire A fantastic opportunity Accessible Cotswold farm with stone An imposing Grade II Listed Georgian farmhouse and well-maintained farmland farmhouse with 145 acres

Guide Price £4,000,000 Guide Price £3,500,000 Guide Price £1,800,000

SOLD PROPERTIES

Carmarthen Aberystwyth Builth Wells An attractive and well-appointed farm An historical freehold moorland estate, A superb sporting estate in the overlooking the Towy Valley amounting to some 790 acres glorious Upper Wye Valley

SOLD Guide Price £850,000 SOLD Guide Price £245,000 SOLD Guide Price £1,300,000 “James Prewett of Knight Frank in Cirencester acted diligently and expediently in assisting in the matter”. D. M.

Llantwit Major Malvern Hoarwithy A productive and renowned grassland Smallholding situated at the front of Spectacular Wye Valley views farm with 127 acres the Malvern Hills with 31.2 acres

Guide Price £1,600,000 Guide Price £775,000 Guide Price £429,000

West Broadwas-on-Teme NR COLWALL A unique opportunity to acquire Georgian farmhouse with extensive Fabulous views to the Malvern Hills Manorial Rights over 1,850 acres barns and 61.28 acres with 6.03 acres

Guide Price £125,000 Guide Price £1,100,000 Guide Price £995,000

Eldersfield Tibberton Llandeilo Traditional farmhouse and courtyard of A farmstead requiring modernisation A sporting paradise with 528 acres barns with 108 acres with 23.9 acres

SOLD Guide Price £1,600,000 SOLD Guide Price £675,000 SOLD Guide Price £2,500,000 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 26 Manchester 8 27 Newcastle 9 Cardiff 28 Oxford 10 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

* Lettings Service † 19 offices across Central London 33 7 32 37 20 28 5 6 10 19 2 25 9 8 11 22 14 4 35 12 29 3 16 34 36 21 18 Hereford 31 22 Broad Street, 15 Hereford, HR4 9AP +44 (0)1432 273087 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.