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Oxford ViewProperty Market Focus - Autumn 2012
Damian GrayOffice HeadT +44 (0)1865 [email protected]
2 Oxford View
WELCOMEWelcome to Oxford View, our seasonal update on theproperty markets that matter to you. Along with asnapshot of activity in Oxfordshire, we discuss what’shappening in the wider country house market and howit is affected by the booming central London market.
We also outline how important it is toexpose your property to as wide anaudience as possible, and give you aglimpse of some of our properties inthe area, both for sale and sold.
Country properties are growing infavour with Londoners enjoying recordprices in the Capital and overseasbuyers benefitting from currencymovements.
Whilst country house prices in variousparts of the country have fallen tosome degree over the last year, thenow significant gap in priceperformance between the countrymarket and the booming prime centralLondon market does however presentan opportunity for the country market,with some London homeownerscashing in on the record-high values in
the Capital to get more property fortheir money in the country.
Furthermore, currency movements arehelping to make country property evenmore attractive to overseas buyers. Forexample Singaporeans can nowbenefit from a 40% discount comparedto prices back in March 2008, thanksto the combination of house prices andthese currency movements and thosebuying in US dollars can benefit from a34% discount, and Europeans can savemore than 20%.
The growing interest from Londonbuyers is demonstrated by theemergence of a number of country'hotspots' bucking the overalldownward price trend, many of whichare close to or within commutingdistance of London.
Oxford is yet again one ofthe leading hotspots withprices rising by 2.5% in thesecond quarter this year.
What do our applicants want to spend?
under £750k 14%
£750k to £1.5m 45%
£1.5m to £2.5m 26%
£2.5m to £3.5m 5%
£3.5m to £5m 3%
over £5m 7%
Where do our buyers come from?
International 3%
London 42%
South East 50%
Rest of the UK 5%
* Figures reflect activity up to and including Q2 2012.
Oxford View 3
Prime Central London
How a £1m investment made £407 a day, every day,for three years.
Prime central London property pricesreached a new high in June, but withvalues almost 50% higher than theywere in March 2009, the rate of pricegrowth is beginning to slow.
Our index confirms that £1m invested incentral London property in March 2009would now be worth approximately£1.48m. This growth equates to anaverage monthly appreciation of£12,400, or £407 daily. Some marketobservers have questioned whetherthis strong price growth will continue.
Over the past few years internationalbuyers have seen London property as asafe-haven investment in anincreasingly volatile global economy.Evidence of this is the fact thatEuropean (non-UK) buyers accounted
for around 10% of the £2m+ centralLondon market between 2005 and 2010and now account for 20% (2011 and2012 to date).
While this safe-haven factor continuesto support the market, we arebeginning to see resistance frombuyers to ongoing price increases andthe difference between asking andachieved prices is beginning to widen,with the percentage of the asking priceachieved having fallen from 96% inMarch to 92% in June.
BUILDING consultancy
At Knight Frank, we can provide a comprehensiveproperty service far beyond the buying orselling of your home.
One of our most successful services isour experienced Building Consultancyteam, which specialises in providinginnovative solutions for all propertysituations. These range from advice onspecific issues to the creation ofbespoke buildings. The team alsoprovides full design services andproject management solutions tofurther enhance the delivery of projectsfor its clients.
James Carter-Brown has recently joinedKnight Frank as head of the BuildingConsultancy and Architecture team andhas already attracted a number of newclients, providing a wide range ofprofessional services includingbuilding surveys.
James comments:“Our extensive knowledge of the besthistoric properties, including Grade IListed buildings, means that we canadd value at an early stage of anyproposed property acquisition. Thisalso ensures that you remain true to theheritage of your home. Where required,our building survey reports can includebudget costings for any repair ormaintenance requirements.”
Our building offers a full range ofdesign, contract administration,planning and building control advicethat can be tailor-made to suit a widevariety of projects. Whether you arebuying a property or makingdevelopments to your current home,
it is important to seek advice from anall-round property expert.
For more information, contact James Carter-Brown on 01488 688523.
Damian GrayOffice HeadT +44 (0)1865 [email protected]
Against a backdrop of economic uncertainty, the country house markethas seen an increase in stock, choice and purchasers. Over the last 12months we have sold to over 13 different nationalities with our Russianand Indian desks particularly busy. With Oxford considered anattractive alternative to living in the capital, we expect to see acontinuing increase in overseas buyers.
Country property
4 Oxford View
PROPERTIES FOR SALE
Bletchingdon
Magnificent Grade II* Listed Palladianvilla
Guide Price £20,000,000
Icomb
Spectacular views, impressiveproportions
Guide Price OIEO £10,000,000
Evenley
A stunning Grade II Listed countryhouse
Guide Price OIEO £6,500,000
Fritwell
A fine Grade II* Elizabethan manor withstunning gardens and grounds
Guide Price £3,950,000
Hoggeston
Stunning Grade II* Listed GeorgianRectory
Guide Price £3,250,000
Broadwell
Cotswold farmhouse with renovationopportunities, in its own land
Guide Price £3,250,000
SOLD PROPERTIES
OddingtonA charming village house in theCotswolds
Guide Price £1,950,000
NokeAn outstanding house close to Oxford
SOLD
Broadwell
A beautiful grade II* Listed Cotswoldmanor house
Guide Price OIEO £8,000,000SOLD Guide Price OIEO £2,500,000SOLD
Aston Abbotts
An elegant Georgian country house ina parkland setting
Guide Price £5,250,000
Evenlode
An immaculate Cotswold countryestate
Guide Price £5,000,000
Maugersbury
Prime Cotswold location and withinwalking distance of Stow on the Wold
Guide Price £3,950,000
Lidstone
One of the finest new houses to bebuilt in Oxfordshire in recent years
Guide Price £4,250,000
Islip
Stunning William and Mary Grade IIListed rectory
Guide Price £3,000,000
Evenlode
A classic traditionally built Cotswoldcountry house with distant views
Guide Price £2,850,000
Lechlade
Idyllic riverside country retreat in ahighly sought-after location
Guide Price £2,950,000
Nr Chipping Norton
Cotswold stone house with stunningviews
SOLD
Little TewEdge of village country house withland, outbuildings and stunning views
Guide Price £1,550,000SOLD Guide Price £4,250,000SOLD
“I didn't ever tellyou howcompletely brilliantDamian has been.We are thrilled tohave exchanged,which wouldn'thave happenedwithout him!”Mrs A
6 Oxford View
Harry GladwinNorth West Oxfordshire & the CotswoldsT +44 (0)1865 [email protected]
Extraordinary growth within the London property market and Oxfordcity has had a direct and positive impact on property prices in NorthOxfordshire and the Cotswolds with buyers drawn to its beautifulcountryside, excellent schooling and easy access to London.
NW Oxfordshire & The Cotswolds
PROPERTIES FOR SALE
Taston
A secluded Cotswold house nearCharlbury with exceptional gardens
Guide Price £675,000
Shilton
Cotswold village house with secludedgardens near Burford
Guide Price £675,000
Lechlade
An elegant Queen Anne style familyhouse overlooking mature parkland
Guide Price OIEO £1,400,000
Freeland
Exceptional edge of village house withexcellent access to Oxford
Guide Price £3,500,000
Duns Tew
A secluded 17th century Oxfordshirevillage house with separate cottage
Guide Price OIEO £825,000
Steeple Aston
Elegant 18th century village house with easy access to Oxford’s schools
Guide Price £1,000,000
SOLD PROPERTIES
ChastletonConverted Cotswold barn with land,outbuildings and equestrian facilities
Guide Price OIEO £1,500,000
ClanfieldFamily house with land and easyaccess to Oxford, schools and London
SOLD
Newbridge
Classic mill house near Oxford withland, cottage and outbuildings
Guide Price OIEO £1,650,000SOLD Guide Price £1,195,000SOLD
Hook Norton
Stunning Georgian family house withcoach house and exquisite gardens
Guide Price OIRO £1,995,000
Chipping Norton
An elegant family house on the edge ofa Cotswold market town
Guide Price £1,950,000
Upper Oddington
A secluded Cotswold village housewith extensive gardens and cottages
Guide Price £1,100,000
Charlbury
Cotswold family house with large barnand stunning gardens near Charlbury
Guide Price OIEO £1,000,000
Northmoor
Converted period barn with outbuildings,land and views near Oxford
Guide Price £1,100,000
Taynton
A comprehensively renovated andextended Cotswold house in Taynton
Guide Price £1,200,000
Little Tew
Secluded country house and cottagerequiring updating in a magical setting
Guide Price £1,300,000SOLD
Nr DeddingtonFamily house near Deddington set inopen countryside with stunning views
Guide Price OIEO £1,100,000SOLD Guide Price OIEO £725,000SOLD
“I just wanted to thankyou and your teammyself for all the helpyou gave us sellingour property. I shallcertainly recommendKnight Frank toanyone looking foran estate agent.”Mrs M-H
Fulbrook
Cotswold house with far reaching viewsand extensive outbuildings
8 Oxford View
Tom CareySouth Oxfordshire & North BucksT +44 (0)1865 [email protected]
Rapid growth in the London property market is pushing buyers out ofLondon. This combined with the recent improvements to a number ofthe train commuter lines, has significantly increased demand forproperty in the area.
SoUth Oxfordshire & Bucks Borders
PROPERTIES FOR SALE
Radclive
A Mill house with land in a wonderfulsetting
Guide Price £1,650,000
Burcot
A beautiful family house and a large3.45 acre garden on the River Thames
Guide Price £1,495,000
Long Crendon
An outstanding equestrian property ina beautiful location
Guide Price £2,250,000
Akeley
A substantial family house andgardens in a wonderful position
Guide Price £1,275,000
Stadhampton
A Grade II Listed family house withattractive gardens and off-street parking
Guide Price £675,000
Brightwell-Cum-Sotwell
Period family house with lovely views,gardens, a tennis court and barn
Guide Price £1,395,000
SOLD PROPERTIES
RadleyA handsome village house with largegarden and tennis court
Guide Price £1,250,000
OakleyA splendid family house and coachhouse in 4 acres
SOLD
Brill
A fine period village house withattractive garden and a detached barn
Guide Price £795,000SOLD Guide Price £1,495,000SOLD
Toot Baldon
A large house and barn in wonderfulformal gardens just outside Oxford
Guide Price £1,750,000
Frilford
A very peaceful and private 2 acrecountry property
Guide Price £1,825,000
Cholsey
A wonderful country house with land ina rural setting
Guide Price £2,250,000
East Hagbourne
Family house with annexe, stables,paddock and a mainline station nearby
Guide Price £895,000
Marsh Gibbon
Attractive period village house, withexcellent communications
Guide Price £675,000
Nether Winchendon
A rural property in an exceptionalposition with panoramic views
Guide Price £1,100,000
Marcham
A charming period family house andattractive garden
Guide Price £565,000
Chesterton
A very pretty Grade II Listed periodvillage house with charming garden
SOLD
East HendredAn impressive Grade II Listed manorhouse set in one of the best villages
Guide Price £1,650,000SOLD Guide Price £350,000SOLD
“I was so pleased with how Tom and theteam dealt with the whole process. Iwould definitely use Knight Frank again.”Mr D
10 Oxford View
Harriet Gascoigne-PeesOxford CityT +44 (0)1865 [email protected]
Since the spring, over 10% of new enquiries for the city have comefrom overseas (from 8 different countries) and 17% from London. The famous independent schools in Oxford/Oxfordshire are still ahuge draw for buyers.
Oxford City
PROPERTIES FOR SALE
Central North Oxford
A stylish family home situated on acorner plot with off-street parking
Guide Price £895,000
Central North Oxford
An elegant brand new bespoke familyhome in central North Oxford
Guide Price OIRO £2,750,000
Yarnells Hill
A private family home with exceptionalviews
Guide Price £1,200,000
Holton
A handsome late Victorian rectory withwonderful mature gardens
Guide Price £1,750,000
Beckley
A large family home within a few milesof Oxford city
Guide Price £1,695,000
Beckley
A family home in a popular villagewithin minutes of central North Oxford
Guide Price £1,425,000
SOLD PROPERTIES
Hill Top Road
A substantial detached family homelocated in Oxford city
Guide Price £895,000
Central North Oxford
An extraordinary penthouse apartmentwith panoramic views and roof terraces
SOLD
Boars HillCountryside views and within minutesof Oxford schools
Guide Price £3,950,000SOLD SOLD Guide Price £950,000
Hids Copse Road
An impressive family home within 2miles of Oxford city centre
Guide Price £1,625,000
Boars Hill
A refurbished family home in adesirable location on Boars Hill
Guide Price £1,850,000
Central North Oxford
A Victorian family home requiringrenovation with a south-facing garden
Guide Price £1,275,000
Boars Hill
Tudor style mansion within minutes ofthe city of Oxford
Guide Price £3,850,000
Iffley Village
Village living in the heart of the citywithin minutes of Oxford schools
Guide Price £1,000,000
Central North Oxford
A detached period family home withinwalking distance of Summertown
Guide Price £725,000
Cumnor Hill
An impressive family home just over 2miles from Oxford city
Guide Price £1,375,000
Central North OxfordA stunning brand property, withinwalking distance to Oxford city centre
SOLD
Central North Oxford
A family home in a generous plot withplanning permission in North Oxford
Guide Price OIEO £950,000SOLD Guide Price £1,350,000SOLD
“We would not hesitateto recommend KnightFrank to anyonelooking to sell ahouse in this difficultclimate, especially ifthey are lucky enoughto have Harriet astheir agent.”Mr & Mrs D
Important Notice This report is published for general information only and not to be relied upon in any way. Although high standards have been used in the preparation of the information, analysis, views and projections presented in this report, no responsibility or liability whatsoever can be accepted by Knight Frank LLP for any loss or damage resultant from any use of, reliance on or reference to the contents of this document. As a general report, this material does not necessarily represent the view of Knight Frank LLP in relation to particular properties or projects. Reproduction of this report in whole or in part is not allowed without prior written approval of Knight Frank to the form and content within which it appears. 1. Particulars: These particulars are not an offer or contract, nor part of one. You should not rely on statements by Knight Frank LLP in the particulars or by word of mouth or in writing (“information”) as being factually accurate about the property, its condition or its value. Neither Knight Frank LLP nor any joint agent has any authority to make any representations about the property, and accordingly any information given is entirely without responsibility on the part of the agents, seller(s) or lessor(s). 2. Photos etc: The photographs show only certain parts of the property as they appeared at the time they were taken. Areas, measurements and distances given are approximate only. Any computer generated images are indicative only. 3. Regulations etc: Any reference to alterations to, or use of, any part of the property does not mean that any necessary planning, building regulations or other consent has been obtained. A buyer or lessee must find out by inspection or in other ways that these matters have been properly dealt with and that all information is correct. 4. VAT : The VAT position relating to the property may change without notice. Knight Frank LLP is a limited liability partnership registered in England with registered number OC 305934. Our registered office is 55 Baker Street, London, W1U 8AN, where you may look at a list of members’ names.
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who will appreciate it as much as you do. This is why, when it was time for Keith and Sally
“Knight Frank understood the property… our home is all about the setting”.
The sale is in the detail.
KnightFrank.co.uk/FranklySpeaking
Knowing the best hiding places
KKnnoowwiinngg tthhee bbeesstt Knowing the sunniest Knowing the new owners have all this to come
To hear more about why the Bowrys chose Knight Frank, visit our website or call 020 3641 9565.
Oxford280 Banbury Road,Oxford, OX2 7ED+44 (0)1865 790077KnightFrank.co.uk