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South West View Property Market Focus - Autumn 2012 2 South West View WELCOME

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South West View Property Market Focus - Autumn 2012 2 South West View WELCOME Welcome to South West View, our seasonal update on the property markets that matter to you. Along with a snapshot of activity in Devon, Cornwall and West Somerset, we discuss what’s happening in the wider country house market and how it is affected by the booming central London market. William Morrison Head of Exeter Office We also outline how important it is to prime central London in early 2009 T +44 (0)1392 423111 expose your property to as wide an would now be worth around £2.66 [email protected] audience as possible, and give you a million, so the owners would have an glimpse of some of our properties in extra £864,000 to spend on a bigger the area, both for sale and sold. country home or more land. Country properties are growing in Furthermore, currency movements are favour with Londoners enjoying record helping to make country property even prices in the Capital and overseas more attractive to overseas buyers. buyers benefiting from currency Singaporeans can now benefit from a movements. 40% discount compared to prices back Average country house prices fell in in March 2008, thanks to the the second quarter of 2012, taking the combination of house prices and these annual decline to 4.8%, according to currency movements. Those buying in the latest Knight Frank Country House US dollars can benefit from a 34% Index. discount, and Europeans can save more than 20%. The significant gap in price performance between the country The growing interest from London market and the booming prime central buyers is demonstrated by the London market does however present emergence of a number of country an opportunity for the country market, 'hotspots' bucking the overall with some London homeowners downward price trend, many of which cashing in on the record-high values in are close to or within commuting the Capital to get more property for distance of London. Property prices in their money in the country. Oxford, for example, rose by 2.5% in Prices in prime central London have the second quarter this year, while risen by 48% since 2009. For example, Henley saw a 0.5% rise and Guildford a property valued at £1.8 million in a 0.2% rise. Where do our buyers come from? Sales by price band International 8% under £500k 14% London 19% £500k to £750k 27% Rest of UK 44% £750k to £1m 17% South West 29% £1m to £1.5m 22% £1.5m to £3m 10% over £3m 10% * Figures reflect activity up to and including Q2 2012. South West 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 search online and would rather build property search online, your home for website, people from around the world a relationship with a knowledgeable sale has never had a wider audience. click through to Knight Frank property 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 can truly give your home the exposure search is now available in over 15 it deserves. Our offices around the different languages, including German, world are constantly in touch and Spanish, French, Russian and Chinese, introducing buyers from one country to and our iPad and iPhone app means another. Whilst the internet provides a that you can search for properties “near valuable platform, we understand that me” wherever you are in the world. busy people can struggle to find time to 4 South West View country property We have sold more property in the first 6 months of this year than the same period in any of the last 4 years. The reason is very simply – correct pricing. Where the price is right and seen as good value and it is presented properly to the national market then we are achieving quick and good results. William Morrison Head of Exeter Office T +44 (0)1392 423111 [email protected] PROPERTIES FOR SALE Bratton Clovelly, Devon Sidbury, Devon Wellington, Somerset An impressive manor house set in its Delightful valley setting with superb An outstanding residential and own valley views equestrian property Guide Price £1,700,000 Guide Price £995,000 Guide Price £2,500,000 Chagford, Devon Swimbridge, Devon Uplowman, Devon Superbly presented non listed family Farmhouse with annexe, offices and Beautiful Grade II Listed house in a home outbuildings private and tranquil location Guide Price £1,350,000 Guide Price £1,700,000 Guide Price £1,500,000 SOLD PROPERTIES Tiverton, Devon North Tawton, Devon Spaxton, Devon Historic Victorian Gothic splendour A small residential estate in a peaceful Queen Anne house in parkland setting within a picturesque valley location SOLD Guide Price £2,000,000 SOLD Guide Price £4,000,000 SOLD Guide Price £1,650,000 “…….the Knight Frank brand helped us reach the right buyer.” Mrs J Laffan Salcombe, Devon Tiverton, Devon Mamhead, Devon Spacious house in an elevated A stunning Grade II Listed country Enchanting house in fantastic position at Batson Creek house with outstanding views Capability Brown gardens Guide Price £1,250,000 Guide Price £2,250,000 Guide Price £3,000,000 Stockland, Devon Exford, Somerset Twitchen, Devon A good sized non listed home An imposing house in a stunning Large family home in delightful surrounded by its own land location location Guide Price £1,450,000 Guide Price £1,600,000 Guide Price £1,250,000 Bampton, Devon KINGSBRIDGE, DEVON DARTMOoR, DEVON Delightful family house close to Stunning Queen Anne house Grade II Listed moorland farmhouse Exmoor National Park SOLD Guide Price £3,250,000 SOLD Guide Price £3,250,000 SOLD Guide Price £875,000 6 South West View Country & Waterfront property Correct pricing combined with first rate marketing is key to every sale, we have demonstrated this widely where the guide prices have been achieved or even exceeded. Richard Speedy Associate T +44 (0)1392 423111 [email protected] PROPERTIES FOR SALE North Huish, Devon Totnes, Devon Thurlestone, Devon Pretty south-facing house with Privately located house and cottages Dramatic coastal views excellent views between Dartmouth and Totnes Guide Price £600,000 Guide Price £1,950,000 Guide Price £1,250,000 St. Dominick, Cornwall Botus Fleming, CornwalL Maker, Cornwall Lovely cottage overlooking the Tamar A fully refurbished detached house on 2 apartments and 2 townhouses small exclusive development Guide Price £495,000 Guide Price £800,000 Guide Price £395,000 - £695,000 SOLD PROPERTIES Topsham, Devon Gorran Haven, CornwalL Treyarnon Bay, Cornwall Views over the Exe and to the Haldon Contemporary house in dramatic cliff Overlooking the beach at Treyarnon Hills top location with uninterrupted views Bay SOLD Guide Price £895,000 SOLD Guide Price £1,300,000 SOLD Guide Price £1,650,000 “Extremely good service from start to finish and could not have been bettered'.” Mr & Mrs J Macphail Kingswear, Devon Polruan, Cornwall Restronguet Weir, Cornwall Waterfront views from all principal Right on the Fowey estuary with Deep water access and views over the rooms running mooring Fal Estuary Guide Price £1,395,000 Guide Price £1,100,000 Guide Price £1,750,000 Stoke Gabriel, Devon Harberton, Devon Bolventor, Cornwall Overlooking the Dart with direct water Farmhouse and cottage close to Totnes The good life on Bodmin Moor access Guide Price £1,500,000 Guide Price £800,000 Guide Price £565,000 Polzeath, Cornwall Topsham, Devon Trematon, Cornwall Beautifully refurbished farmhouse and Former boat warehouse with pontoon, Outstanding Grade II Regency house top quality holiday let barns slipway and deep water mooring set within Bailey of Norman Castle SOLD Guide Price £2,000,000 SOLD Guide Price £2,000,000 SOLD Guide Price £700,000 8 South West View Country & Waterfront Premium sale prices are still being achieved due, primarily, to a lack of available, quality waterfront properties.
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