Woodland:
Anto Clay says: “Property with attached woodland is attracting a premium; everybody used to want a pony paddock, now mature trees are the new must-have. In these days of stratospheric fuel prices, firewood keeps you warm three times – once when you cut it, once when you split and stack it, and finally when you burn it. And of course, it’s good for the soul.
“Owners should protect against timber-rustling; wood theft will inevitably become a product of the times we are living in.
“Generally speaking, a small patch of land is becoming very desirable. Property owners want space that isn’t house, for a growing project of some sort, whether that’s veg, vines, orchards, wildflower meadow or chickens. When times are hard, there’s something rather reassuring about having your own plot.”
Projects:
James Law says: “Building plots and huge renovation projects are currently out of favour with many buyers. Historically, young buyers could achieve what they wanted by buying a wreck and doing it up slowly. But the rising costs of materials and building work has discouraged this sector. However the wealthy retired, who know what they want in terms of lifestyle, sustainability and future nest-proofing are looking for projects that will allow them to achieve their perfect later-life property. Many are selling up in the home counties and looking for a plot or a knockdown further west.”
Sara Ransom says: “London is full of overpriced unmodernised properties. Eager buyers are putting in offers then getting quotes for the work and realising that the numbers simply don’t make sense and pulling out. Prices for properties that require a great deal of work, or that are half-finished projects, require a significant downward adjustment.
New vs old:
“New builds in London are enjoying a revival in popularity because they’re more energy efficient and require little maintenance.”
James Greenwood says: “In the country, more and more buyers who used to say ‘period only’ will look at both new and period. There’s an aspirational funkiness to owning a good new eco home. Downsizers in particular are looking for properties that are low maintenance and have low outgoings.
Listed properties:
Craig Fuller says: “People who are selling Listed properties are finding that it helps to have a survey before they go to the market so that interested buyers go into a transaction with open eyes.”
Anto adds: “Period properties used to come with a cachet and premium; now estate agents are inclined to hide Listed information away in the small print.”
Emma Barkes says: “Owners of Listed properties are finding themselves paralysed when it comes to getting work approved. Many councils no longer have a functioning Listed Building department, and a single conservation officer can have a huge territory to cover, often spanning two counties.”
Sheds:
Bill Spreckley says: “Everybody wants an outbuilding – you can never have too many, and a property with a barn or shed, or several of both, will attract a lot of interest. Historically buyers would be inclined to convert their outbuildings; these days they’re more likely to use them for a myriad of outdoor paraphernalia, cars, garden tools and equipment, apple storage, bicycles, or sometimes for utility space, fridges and freezers.”
Retro-fitting:
James Greenwood says: “As fuel prices increase and homeowners panic about how much their homes will cost to heat, retrofitting property will become more widespread. Pioneers may have overpaid in the past, but as the industry evolves, prices will inevitably start to fall, and better environmental solutions will be developed.”
Transport:
Sara Ransom says: “Forget electric cars, in London nobody wants a car at all. Crossrail has made getting around London by public transport a joy, while driving gets slower and slower with more and more cycle lanes and less capacity for cars. The premium for property with off-street parking is diminishing – space is more likely to be transformed into a mini wildlife meadow than used to charge an E-car.”
Lifts, stairlifts and handrails:
Nick Wooldridge says: “More and more people are installing internal lifts. People are staying in houses for longer so they’re looking at ways of future-proofing. Lateral space is ever popular, tall skinny townhouses are losing popularity rapidly, but if you already live in one, an internal lift solves some of the problems.”
James Greenwood says: “If you inherit a property with stairlifts, ramps and handrails, strip them all out before you put the property on the market. They can reduce the value by as much as 10%.”
Hong Kong buyers:
Sara says: “Hong Kong buyers are arriving in flurries that I expect to become a steady stream. The locational draw tends to be based on the availability of good schools. Favoured London locations include Wimbledon, Wokingham, Esher, Cobham, Epsom.”
West is best:
Anto says: “As people chase value, there’s a move from east to west: London to Oxfordshire; Oxfordshire to the Cotswolds; then on to South Herefordshire and Monmouthshire; then to West Wales. The latter stages tend to be later-life moves as although property prices are dramatically lower, wages fall off a cliff.”
Return to London:
Sara says: “People who moved out of London during the pandemic are returning in significant numbers. They’ve tried it for two years, moved into local communities but found they miss the bright lights and that they’re struggling to fit in.”
