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Regional report

Each month we visit three agents across the country to discover what is happening in their local market. This month we meet members of the Guild of Property Professionals in Surrey, Yorkshire and Hampshire.

The Negotiator

SURREY

Surrey property image

STATS: Available Residential for sale: 114 Average asking price: £527,000 Market share: 7.94% Available Residential Lettings: 28 Average asking price: £1478pcm

 

Simon Caird imageSimon Caird, Director
Cairds The Estate Agents

The market town of Epsom is world famed for its annual horse racing event, ‘The Derby’ when over 100,000 annually visit Epsom Downs including our Royal attendee Her Majesty the Queen.

Surrounded by swathes of green belt and natural beauty, just 13 miles from central London with three train services; London Bridge, Victoria & Waterloo within 45 minutes makes this an excellent choice for young professionals and families.

Outstanding schools and highly regarded secondary education in independent and state formats provide an ideal base for families.

Epsom has a huge diverse choice of housing from Grade II listed period farm worker cottages on the common to Georgian listed mansions, intermixed with Victorian and Edwardian roads, to large clusters of 1930s semis skirting the area of Ewell. Family homes tend to be 1930s onwards with an emphasis of Mock Tudor facades.

Over the last two decades Epsom has expanded gently with new housing developments across the spectre, with the release of its six original hospital cluster developments that now provide a wide choice modern homes to the area.

Epsom & Ewell has suffered a lower intake of London buyers over the last 18 months due to economic challenges and relentless government tax changes affecting our local market. Stamp Duty being a huge factor, along with the continuous assault on private buy to let investors and let to buy purchasers have all seen a major decline in appetite.

It is our opinion that the present government policy is incorrectly directed towards attracting first time buyers, when actually the next generation of movers are needing rental accommodation – offering more flexibility with work contracts.

We believe the next generation of property occupiers will be aligned towards lifestyle over property ownership and with affordability and huge deposits required and will see more demand for rental in the coming years regardless of being in or out of Europe. To conclude, the current housing policy ignores the real issues of affordable rental stock with its current bias towards private landlords.

Cairds, The Estate Agents, has been established and trusted for 25 years with continuous involvement in the Epsom community, are the market leaders with three offices offering residential properties, land and new homes and a comprehensive lettings and management service and are members of the Guild of Professional Estate Agents, NAEA and ARLA.

Pictured property: £1,050,000

YORKSHIRE
Yorkshire property image

STATS Average sale price: £190,000 Average rental price: £575 per month Average commission/management price: £10% management on lettings and 1.1% on sales Average viewings

 

Simon Miller imageSimon Miller, Partner
Holroyd Miller

Having said goodbye to 2018 we’re hoping for more of the same in 2019, it was an incredibly successful year. Thankfully there is one thing the government and the media can’t stop, home ownership, we are a nation of homeowners and continue to be.

The majority of our business interactions are serving homeowners and this continues to grow. Brexit did halt progress in Wakefield last year but it was short-lived as people realised they couldn’t put their lives on hold any longer. Of course the banks are still lending at incredibly good rates, which has certainly aided the continual interest in buying and selling property.

The local market always does well due to the fact Wakefield offers a more affordable choice compared to its neighbours such as Leeds and York. Our average well presented suburban three bedroom home normally sells for £200,000 pounds, which compared to surrounding towns and cities is extremely competitive.

Wakefield attracts varied interest due to the variety of properties on offer. It has it all, from terrace houses, country cottages, suburban family homes, and large modern day mansions, we have a good spectrum of property that couldn’t be better positioned. Close to the M62, M1, A1 and large cities such as Leeds, Sheffield, Manchester, and York, Wakefield has very well connected road and rail links beyond Yorkshire to larger cities including London.

It’s not difficult to understand why, the location is so convenient and the prices are so competitive that Wakefield makes sense.

Holroyd Miller is certainly a community agent. With my business partners, Jonathan and Hearl, we have lived and worked in the area for a long time, we are known in our community, we are a part of it. I think our customers really appreciate that, not to mention their good experience with us. We take the stress out of the buying and selling process for them. We don’t needlessly add to the stress, we manage the complications and that keeps them coming back.

Wakefield really is a win, win town offering everything you need for an easy life, no wonder year on year we see an increase in the number of professionals relocating here and we’re certainly hoping to see more as Channel Four relocates just 10 miles away to Leeds.

Pictured property: £1.5million

HAMPSHIRE
Hampshire property image

STATS: Average property rents in Southsea: £1,232pcm Commission: 1% +VAT or less in many cases Viewings: Average 186 per month, with 1 sale agreed per 17 viewings

 

Colin Shairp imageColin Shairp, Director
Town & Country Southern

Setting up a Fine & Country agency for southern Hampshire led to the creation of Town and Country Southern as a complementary business. Buyers moving upmarket through Fine and Country often had a house to sell that did not fit the agency’s parameters but losing the chance to make that sale was too good to pass up.

Portsmouth is an interesting place with regard to residential sales. As the UK’s only island city, it suffers from a lack of space for new development while cutbacks in Royal Navy personnel and the dockyard that serves it have depressed demand for existing homes and discouraged the efforts needed to create new developments.

That said, industrial declines in some parts have opened up sites and the new homes they generated have been popular, selling well. Portsmouth and adjoin Southsea have also benefitted from good rail links and became popular with the Victorians and Edwardians, who built many fine homes. Many of these were gems of Fine and Country status but some, although appealing, are not. It opens up the opportunity to sell some very interesting properties through Town and Country Southern.

On top of the factors already mentioned, we are waiting to see what happens with Brexit if, indeed, it happens at all! Portsmouth is one of the Continental ferry ports earmarked by the Government for additional ferry services should there be a No Deal exit from the EU and this, perversely, could actually create jobs and boost the market in Town and Country’s sector.

There’s a good selection of homes across the city, where first time buyers can still get into a three-bedroom house for £200,000. The city is renowned for its sense of community and is served by good schooling, public facilities, and transport links. Last year most sales in Southsea involved terraced properties, which sold, on average at £266,679. Flats sold for an average price of £214,673, while semi-detached properties fetched £389,963.

Southsea, with an overall average price of £254,257, was similar in terms of sold prices to nearby Old Portsmouth (£264,094), but was more expensive than North End (£190,440) and cheaper than Gunwharf Quays (£297,250).

Pictured property: £315,000

February 26, 2019

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