But as confidence returns to the City, the attractions of more space, good school and better transport links have combined to make many buyers look at moving to the Country in 2014. With spiralling prices in London, the country market looks even more attractive.
“Two distinct markets have emerged from the downturn”, says Nick Leeming, chairman of Jackson-Stops & Staff, with more than 40 offices nationwide, in London’s smartest districts and across the cathedral cities and market towns of England. “London’s occupancy profile has altered significantly. Mobility is more important to young professionals who move around with work and may opt or be forced to rent rather than buy.
People are working longer hours and want to be relatively close to their offices: they also need to be available to meet clients. Working from home for two days a week and in London for the rest of the time has become less attractive. As a result, the London influence on the rest of the UK remains weak and has resulted in a “two markets” effect but this will change as confidence in the City improves.
International demand will continue to underpin central London and service sector growth will continue to sustain demand in the South-east. Elsewhere, the main drivers will be regional economic growth.”
The London suburbs and places within an hour of London by train are benefiting from the rise in prices in the capital. Good transport links, excellent schools, and an appealing mix of shops, restaurants, leisure facilities and open spaces tend to be the essential characteristics for an appealing destination to move to or invest. These apply equally to the London suburbs and to attractive towns and villages across the UK – and, according to Jackson-Stops & Staff agents across the UK, will be among the main reasons for moving in 2014.
Jackson-Stops & Staff specialises in prime residential property – town houses, country houses, farms and estates and listed buildings, from residential development and new homes sales to professional services.
As shortage of stock continues to force prices up in prime central London, people are selling up and heading out of town to the London suburbs and home counties in search of a larger house and garden and a change in lifestyle. However, the bright lights of the capital as a leading global city remain undiminished for international buyers.
Sebastian Anduze, Jackson-Stops & Staff, Holland Park, says:
“This part of central London is not only close to the West End and the City but also well placed for speedy weekend exits to the country. Its appeal lies in the eclectic mix of traditional and bohemian styles, plus wonderful schools, parks, high-end boutiques, bars and restaurants.”
The general confidence in the London market comes, in part, from the city’s geographical position. This is combined with the fact that London is still perceived as the economic capital of the world.
Harry Buchanan, Jackson-Stops & Staff, Pimlico, says:
“We have seen strong prices continuing and the main factors would be supply and demand and London being perceived as a safe investment. Another contributing factor has been the sharp growth of some of the Asian markets against the pound. This makes a central London investment not only safe but wise.”
Charles Puxley, Jackson-Stops & Staff, Chelsea, says:
“I do not see a significant increase in stock levels happening in the short-term. In Holland Park and Notting Hill, the areas remain popular with both UK and international buyers”.
Wimbledon Village is an ideal staging post for people moving out of central London. The fashionable shops and boutiques retain a cosmopolitan vibe, while the excellent schools, the open spaces of Wimbledon Common and strong community spirit are attractive for families seeking to escape the hustle and bustle of the urban centre.
Roland Simpson, Jackson-Stops & Staff, Wimbledon Village, says:
"The proposed Crossrail link has been another incentive for buyers but large detached homes and the glamour of being close to the All England club continue to attract.”
The Surrey towns of Weybridge, Esher, Cobham and the surrounding area appeal to people moving out of London, with the main drivers being good schools, both state and private, and good access to the capital, by road and rail. The opening of the new Jackson-Stops & Staff office on the edge of St. George’s Hill in Weybridge in June has seen a significant rise in activity and sales.
Tim Firth, Jackson-Stops & Staff, Weybridge, predicts a “steady rise in house prices through 2014 as confidence continues to build.”
Other popular commuter destinations for the London exodus are the towns of Oxted and Sevenoaks. Surrounded by Greenbelt Countryside, the area abounds in wonderful, historic houses and parkland, such as Knole Deer Park, comprising 1000 acres of parkland and golf course.
Jill Mitchenall, Jackson-Stops & Staff, Sevenoaks, says:
“Sevenoaks draws the market because of the excellent easy commute to London (30 minutes) coupled with the outstanding schools in the area – particularly the pull of grammar school options and highly rated primary schools.
These pretty towns offer a wide range of facilities and road and rail links are excellent. There is a very good selection of local schools, which continues to be a factor in attracting families to the area. Sevenoaks was also noted in press headlines some while ago as being the place of least divorce!”
Stuart Routledge, Jackson-Stops & Staff, Oxted, says:
“London families wanting to bring their children up in a more rural environment are attracted to Oxted as they require good schools, restaurants and shopping, coupled with a wide range of leisure facilities and clubs. Some have grown up here, lived and worked in London and then return as their families grow. There’s a real sense of community locally and many buyers want to remain in the area. It is not unusual for us to be marketing houses which have been owned by the same family for the last 20 years. Good family homes are usually quickly sold, some without even being advertised”.
Crossrail will reinforce and improve Newbury’s attractiveness for those relocating out of the City, yet wanting good transport links for commuting. Many buyers already perceive Newbury and the surrounding area as one of the primary and most attractive swathes of open countryside west of London - and improved communications can only add to its appeal.
James Dawson, Jackson-Stops & Staff, Newbury, says:
“Crossrail will be operational from 2018. Those villages within a 10 minute drive of Kintbury, Newbury, Midgham and Pangbourne Stations, yet still in unspoilt and open countryside will see the most benefit. The major benefit is without doubt the greatly improved travel time once at Paddington to The City and Canary Wharf.”
Situated in the heart of the South Downs National Park, yet just one hour from central London, the market town of Midhurst is close to many major sporting attractions, including the Festival of Speed, Goodwood Revival & Glorious Goodwood and is also home to the world renowned Cowdray Polo Club.
Andrew Ferrier, Jackson-Stops & Staff, Midhurst, says:
“The main buyers for houses in Midhurst tend to be those moving out of London who recognise the value of living near great schools, in a National Park, near all the superb local leisure facilities (the sea, the Downs, Goodwood horseracing, golf, flying and motor racing, Chichester Theatre and polo at Cowdray Park), and still be within each reach of London (about 1 hour to Waterloo) and three major airports nearby. Who could ask for more?”
Looking to the east, Newmarket has received a recent boost from the Cambridge phenomenon, especially from the arrival of technology giant Astra Zeneca. Set in attractive countryside on the Suffolk/ Cambridgeshire border, the town is world famous as the
headquarters of British horse racing. There are excellent schools in the area and Cambridge, Audley End and Whittlefield offer direct rail lines into London, with the fastest trains taking under one hour.
Jock Lloyd- Jones, Jackson-Stops & Staff, Newmarket, says:
“The Newmarket- Cambridge corridor has received a boost from two directions recently: The powerful ‘Cambridge phenomenon’ and now the equally exciting arrival of fresh British and overseas investors into the racing industry. In particular the fabulously wealthy Qataris have already bought a stud farm on the outskirts of the town and this will provide a welcome addition to competition at the top end of the market”. A natural destination for those living in Holland Park, Notting Hill and west London, the Cotswolds continues to thrive and is one of the most recognisable regions of Britain with it iconic period stone houses and stone slate roofs.
The popularity of the area as a place to live is matched by its attraction to visitors from across the world. This does much to support the rural economy and help the proliferation of specialist farm shops to the particular benefit of local residents.
David Froggatt, Jackson-Stops & Staff, Chipping Campden, says:
“We have found the properties in most demand are good family houses, built of local stone and in good decorative order. A finite supply of such buildings continues to underpin the market and
most purchasers are seeing this as a good long term investment as well as a picturesque roof over the family’s heads.”
As one of the oldest and highest towns in Dorset, the “Shaston” of Thomas Hardy’s novels dominates the Blackmore Vale. Set around the Abbey, founded by King Alfred and his daughter in 888 and home to Gold Hill, Shaftesbury is a thriving market town with views over three counties. Shaftesbury has an interesting High Street, with the Grosvenor, a recently refurbished boutique hotel, and small niche retailers. The Jurassic Coast is within a 40 minutes drive, and excellent schools, abound in the area.
James Wilson, Jackson-Stops & Staff, Shaftesbury says:
“Good road communications via the A303 mean that Shaftesbury enjoys strong interest from buyers in London and the Home Counties, from those downsizing and those buying to be close to schools in the area, as well as a consistent local market”.
This picturesque part of West Somerset nestles in the folds of the Brendon, Quantock and Blackdown Hills, offering excellent opportunities for walking and riding. Schools in the area are fantastic and include Taunton School, Kings and Queens Colleges and nearby, Wellington, Blundells and Sherborne. Fast trains run to London Paddington in just one hour and forty five minutes from Taunton.
Brian Bishop, Jackson-Stops & Staff, Taunton, says:
“Properties with good parcels of land are in demand. With more confidence in the market we predict there to be a greater volume of serious buyers next year. To create the ideal supply and demand balance, there will need to be a good supply of quality houses coming onto the market in the spring of 2014.
Exeter has its own micro-economy, driven by businesses that have relocated to this handsome cathedral city and an affluent student population. New homes are performing exceptionally well, attracting early retirees and professional couples who want to stay within easy reach of the city. On the Exe estuary, an internationally significant nature site managed by the RSPB, Spinnakers at Exmouth Quay is a luxury landmark development with waterfront apartments.
Joanna Hole, Jackson Stops & Staff, New Homes, says:
“There is a regeneration programme in Exmouth over the next 10 to 15 years which will see increased business and leisure opportunities in the town. There is a dynamic lifestyle with power boating, water-skiing, windsurfing and kitesurfing. It is a perfect lock up and leave development, with easy access to the M5 and Exeter airport.”
