The country house market flourished in August, according to Hamptons. Viewing levels for country properties in the £1,000,000 plus bracket were up by 25% compared to August 2004 and 63% more offers were made.
Realistic pricing is now recognised as the key to successful selling, with much of the older stock moving now vendors have become more aware of the market conditions. Hamptons International Country House director, John Denney comments: ?If you are looking for a sale now, the key is to be not so over ambitious with pricing.?
The realisation that the market is not going to collapse coupled with favourable interest rates has encouraged more people to enter the property market: ?House price adjustments have taken place since the beginning of the year, and property prices over one million have finally plateaued? says Denney.
|Old Threel, in Albourne, West Sussex was sold for 1.65million (Hamptons, Horsham)|
A Victorian country house in Medmenham, Buckinghamshire is realistically priced at £1.95 million. Situated in between Marlow and Henley the 6 bed property is ideal for those working in London but wish to be surrounded by garden.
|The Tower House in Medmenham, Bucks – for sale at 1.95million. Hamptons Beaconsfield +44 (0) 1494 672969|
Many of the latest buyers have come to the market from rented properties, ?A number are keen to be in their own property by Christmas time and September really is the last month to guarantee a pre Christmas move,? he explains.
This activity is also reflected at top end the of mortgage market. Jonathan Cornell, Director of Hamptons International Mortgages comments. ?We are arranging six £1,000,000 plus mortgages per month and this number seems to be increasing steadily. The people who are taking out mortgages of that size clearly have confidence in the UK property market and economy.?