CANFORD CLIFFS PROPERTY BRIEFING HOME TRUTHS ABOUT THE LOCAL MARKET SEPTEMBER 2020 Property profile Factors shaping the local market YOUR LOCAL MARKET The coastal market is thriving as buyers reassess their needs “It has been an unpredictable yet remarkable year for the UK property market, and the coastal market in particular is thriving. The lockdown has made people reassess their lifestyle choices and they’ve started to reconsider where and 3X MORE BUYERS how they might now prefer to live. This year so far, we’ve With the prospect of flexible working, people are no longer registered three times more anchored to a specific location and that, along with dreams new buyers in Canford Cliffs of sea views, has brought attention to the Canford Cliffs and than in 2019. Sandbanks area. A lot of that attention is from London buyers. The number of people registering to buy from us has more than tripled since 19.4% the same period in 2019, with a significant number of those The premium for enquiries coming from people living in London. Thanks to properties within 100m of our network of 39 offices in the capital, we’re well placed to the coast compared to 1km help people during this spike in demand. in England and Wales. Sources: Savills Dealbook Data, Savills Research using TwentyCi and Land Registry Our team here in Canford Cliffs has been busy selling 83% more property in July and August 2020 compared with the same period last year. Although there has been a lot of MULTIPLE OFFERS activity, the market remains price sensitive. Buyers will pay 53% of properties in the right price for the right property. Canford Cliffs have For London buyers, the most common request is for property received multiple offers that is as close to the coast as possible to take advantage of since lockdown. Our sellers the sea and the golden sandy beaches. We’re also getting are selecting the right buyers interest in waterside plots. Where we might normally sell and finding people who can two in a year, we’ve just exchanged on two in the past month. move within their timescales. So, whether you are thinking of selling your home, or buying, renting or letting, we’d be delighted to talk to you.” 83% Over the summer months, we’ve seen strong activity in the area. In July and August, our office in Canford Cliffs agreed 83% more sales than in the same period last year. Sean Gibson Head of Office +44 (0) 1202 492 517 [email protected] 2 — SAVILLS.CO.UK PROPERTY VALUES IN THE CANFORD CLIFFS AREA With a renewed interest in coastal living, prime property in and around Canford Cliffs will see strong activity in the coming months Sources: Savills Research using Land Registry, Savills Prime Property Index “We are seeing strong activity in Canford Cliffs as a result Key of a renewed motivation for coastal living and an increase in Average transaction value buyers moving from London. Despite the headwinds facing 12 months to March 2020 the housing market from the Covid-19 pandemic, we’ve seen Below £200,000 £200,000-£400,000 a growth of 1.1% for prime property values in and around £400,000-£600,000 Canford Cliffs in the year to the end of June. Nonetheless, £600,000-£800,000 Kirsty Bennison the market is price sensitive with average values 5.2% below Over £800,000 Residential Research where they were at the time of the Brexit referendum. Canford +44 (0) 207 016 3836 Cliffs is particularly desirable with the average transactional [email protected] value of £713k (in the 12 months to March 2020) more than double that of its local authority, Bournemouth, Christchurch and Poole. The well-known Sandbanks peninsula, home to best in class properties with sea views is unsurprisingly the most expensive market, commanding some of the highest premiums for waterfront living across the UK.” 3 — SAVILLS.CO.UK “This luxury upper floor cliff top apartment had been Safe harbour on the market for over a year and was yet to attract the • In an unpredictable right buyer. However, when lockdown eased, it was a post-lockdown market, different story entirely when we received interest from we can help find the a number of prospective buyers who were drawn to its right buyers for the unique position and magnificent sea and harbour views. right properties Keith Fensom We contacted a buyer from a nearby area who was Residential Sales reassessing their property needs, showed them the +44 (0) 1202 492 502 property and they fell in love with it instantly. The deal [email protected] was agreed quickly and we managed to secure an offer close to asking price for our client, a very strong result for an apartment in this development.” SOLD CHADDESLEY GLEN, POOLE Location was everything for the buyers of this beautiful sea front apartment 4 — SAVILLS.CO.UK SOLD WHITECLIFF RD, POOLE This stunning seafront property was snapped up by cash buyers before it officially went on to the market “We were contacted by a cash buyer from London Competitive bids who had seen everything that was on the market and was • Our strong presence eagerly awaiting new properties to be launched. They in London and beyond wanted to enjoy the tail end of summer by the seaside, puts us in the forefront so were keen to get a deal done quickly. They phoned us of buyers’ minds because they were familiar with our brand, and enquired Sean Gibson if we had anything that might suit them. We knew this Head of Office property was the perfect fit. It was priced slightly higher +44 (0) 1202 492 517 than what they wanted to spend, but they ended up [email protected] offering close to the asking price because it was perfect to their requirements. The deal was agreed prior to it officially going on to the market, and the property exchanged within three weeks of the deal being agreed.” 5 — SAVILLS.CO.UK SOLD OLD COASTGUARD RD, SANDBANKS Competition for this waterside plot was fierce “Since lockdown, the market for waterside plots has Changing needs been particularly competitive. This property is tucked • We keep abreast away off the main peninsular road in a very quiet and of what our buyers peaceful location and has direct water access and a are looking for, and mooring. The new owners plan to knock the existing can find the right house down and replace it with a substantial modern properties to meet Sabrina Bodley new build. We plan to work closely with the new owner their evolving needs Residential Sales with the regard to the design, size, specification and +44 (0) 1202 492 509 materials to make sure they have full guidance and can [email protected] maximise the new plot to build their dream home.” 6 — SAVILLS.CO.UK National coverage Activity influencing the wider UK market REMOVALS OUR SERVICE INCREASE IN BUYERS FROM LONDON TO YOU All of our country offices are reporting an uptick in buyers from The right buyer for your property may London. Of new buyers registering already live in Canford Cliffs or the with us to buy a country property, surrounding area. Often, we see buyers 32% come from London compared with 21% last year. move from London in search of stunning properties and a coastal lifestyle. Wherever they may be coming from, we’ll help them COMMITMENT TO MOVE The net balance of those who find your property. Thanks to Savills have become more committed global network of offices, your property is to move in the next 12 months visible across the UK and internationally. is +9% in April, +32% in June and +21% in August. Each of our offices is dedicated to its local market and understands its attraction and unique features. And once you’ve sold your STRONG ACTIVITY IN THE PRIME MARKETS property, we’re here to help you move on to We have seen a 127% increase the next stage of your journey. in the number of sales agreed Even if you are not looking to move soon, for property above £1 million across the UK in August compared we are happy to provide a free appraisal with the same month a year ago. of your property. This reflects how pent-up demand has been sustained throughout the summer months. 98% Since the market reopened on 13 May, our sales across the UK have achieved 98% of their Savills Dealbook Data, Savills Buyer Surveys, Savills Research using TwentyCi guide price on average. 7 — SAVILLS.CO.UK 34 Haven Rd Canford Cliffs Poole BH13 7LP +44 (0) 1202 708 888 Sean Gibson Keith Fensom Sabrina Bodley Pippa Leech Trevor Kearney Head of Office Residential Sales Residential Sales Residential Sales Country Department +44 (0) 1202 492 517 +44 (0) 1202 492 502 +44 (0) 1202 492 509 +44 (0) 1202 492 504 +44 (0) 20 7409 8872 [email protected] [email protected] [email protected] [email protected] [email protected].