“Those buying
this year will
look back in
five years’ time
and know they
did well”
buyers’ and sellers’ expectations. appreciation,” Lamb concludes.
“People need to forget about when the The problem of demand outstripping
Focus on
market was at its peak. Although the supply in the UK residential market
market has improved in our areas, buyers is currently extending to farms
Hampshire
need to know that they will get a good and estates. “We’re seeing strong
deal but not a huge discount. Equally, demand,” says Alex Lawson, of
sellers must realise that people Savills Country Department. “I’m
won’t pay a premium for property and meeting two or three buyers a week
James Walker
that they may have to accept a more who are looking to invest in farmland
Savills Country
competitive figure.” at the top end. We’re low on supply,
Department
though – 50 per cent down on
Investing in property spring last year.” “In general, Hampshire is
In the traditional hotspots of Cornwall faring well in the current economic
and Devon, Martin Lamb, of Savills A pioneering sale climate due to its many desirable
Exeter, is witnessing an increase in cash Savills farms and estates have secured attributes – proximity to London,
buyers. “These people prefer to buy an important sale recently. “We’ve just excellent communications (by road,
property rather than leave their money completed our first £10 million-plus rail and air), exceptional schools,
in a bank where it will gather little deal of the year – and, to my knowledge, affluent towns and villages and
interest,” says Lamb. this is the first of such value achieved pretty countryside.
Two recent sales in Devon have by any UK agent in 2009,” says Jessica “Recently, Hampshire property
indicated positive signs for Lamb. Simpson, also of the Country Department. in the £2 million to £6 million range
“In February, we sold Medland Manor, “The property was a residential farm of has begun to see an element of
near Okehampton, for more than 1,700 acres, representing an excellent competition return to the market.
£2 million. This demonstrates that example of recovery at the top end of “A good example is Bradshott
there is always a demand for property the market.” Hall near Selborne, a family home
that is correctly priced. Marking believes the key challenge which launched to the market with
“March saw the sale of Lamper in the south west region centres on the a guide price of £2.75 million in
Head, a beautiful second home in the market for second homes and holiday April and the sale was agreed in
South Hams with an excellent letting homes. “Some people may scale excess of the guide price within
income. The £2 million-plus that the down in London but decide to keep three weeks. Although this is not
buyer has invested will produce a far their country home,” says Marking. typical of the market currently, it is
superior return than in a deposit account “With the ability to work from home, not an isolated case.”
and represents good potential for capital that’s a viable option for many.” n
savills ultimate property collection 61
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