“The crucial
thing is that
sellers have to
be realistic
on price”
renting for two years and have seen the sale. “We’ve revalued some properties that
market drop by between 10 and 20 per were available from last year and they are
Focus on
cent. They believe that now is the time now starting to sell,” says Peppitt.
to buy.” But not at any cost. “If a house has
Families upgrading
Many of these people are of a senior been revalued for spring 2009 and the
age and trading down is part of their offer is 10 per cent under the guide price,
retirement planning. Other buyers are we would advise sellers not to accept it,”
taking a longer-term view that property observes Peppitt.
is as good an investment as any. It’s
Robert Adams
interesting to note that three-quarters of Competitive edge
Savills Esher
recent sales at Savills Beaconsfield have In hotspot areas, the competitive edge
“We’re seeing an increase in local
been mortgage-free. can be as sharp as ever. In April, a
and London families who want to
West Kent is seeing similar trends. £700,000 farmhouse within the Cranbrook
upgrade their homes. As long as
William Peppitt, of Savills Cranbrook, School catchment area sold for the asking
their jobs are secure, they will take
reports the busiest and most productive price to the first person to make an offer,
advantage of the prices.
April for some time. “Many of our buyers and a farmworker’s cottage for sale at
“Houses that may have been
have been renting since last year but have £395,000 achieved 10 per cent more in
valued at £2 million last year are
decided they need to get on with their sealed bids.
now going for £1.6 million. As long
lives. In the first half of March we had a Sophie Wysock-Wright, of Savills
as the buyers have between 40
high number of viewings with bold offers, Haywards Heath in Sussex, is seeing
and 50 per cent of the asking price
while in the second half we had many renewed interest in the village and
in equity in their current home, they
viewings with good offers.” country house market within mid-Sussex,
can borrow the mortgage that is
particularly from families looking to
required for their new home.
The school run buy a property priced between £600,000
“By spending £1.2 million to
This activity, however, is limited to and £2 million.
£1.6 million, families can move
properties within the catchment area for “There seems to be a renewed feeling
to a detached home with a large
good schools such as Cranbrook School, of stability among buyers, compared with
garden in a very desirable location
a grammar that takes children from the uncertainty of six months ago,” she
surrounded by houses worth up
within a six-mile radius. Savills agents comments. “I think we have finally reached
to £5 million. They are taking the
are reporting a very high demand for the ‘trough’ in the market and will stay here
long-term view that the investment
properties between the £750,000 to for a while. This should help buyers and
will be a good one.”
£1 million price bracket. sellers feel safer to go ahead and make
Realistic pricing is the key to making a the move.” n
savills ultimate property collection 33
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