Welcome
Welcome to Savills Ultimate Property Collection 2009
The new year has brought a decided change in climate in the residential market. People are
cautious about referring to ‘green shoots’ – rightly so after the frozen wastelands of the markets
last autumn – but across the country Savills agents are reporting a more positive approach from
buyers. Market falls appear to have stabilised, and in some areas there are signs of new growth.
Agents have noticed best-in-class homes selling for in excess of the asking price and some going
to sealed bids or best and final offers. In London, Kensington, Barnes and Islington have led the
way in showing positive signs, closely followed by Wandsworth and Clapham, which have had a
‘phenomenal’ start to the year, according to Jonathan Hewlett, head of Savills London.
In the country, traditional coastal areas still attract competitive interest, as evidenced by
significant sales in Sandbanks and in the Cornish and Devon estuaries. Also attracting strong
interest are properties with land and country estates.
People are the driving force of change and buyers from both the UK and overseas are behind
this more optimistic mood. Many astute buyers believe that property prices have levelled out
in Britain and that they will not continue to fall. As a result, a large number of buyers are now
coming out of rental properties determined to ‘get on with their lives’.
Those buyers who commit now will think in several years’ time ‘we did well.’ The fall in prices
since summer 2007 has enabled investors to secure larger properties than they could have
purchased previously. Also, falling interest rates have made yields from property look attractive
relative to those from cash on deposit.
Buyers with overseas connections have taken advantage of the favourable exchange rates and
this has led to an increase in significant sales in London, Scotland and the Cotswolds this year. In
the holiday home market, British buyers are remaining faithful to traditional areas, such as the
Algarve, the South of France, Barbados and the Balearics.
We hope that you enjoy the Ultimate Properties Collection for 2009. The regional introductions
for each section will offer insightful and precise market comment from Savills experts, and the
properties featured are the finest on the market today.
Rupert Sebag-Montefiore Head Office +44 (0)20 7499 8644
Chairman & Chief Executive
westend@savills.com
Savills (L&P) Limited
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