09 May Recession, what recession? Award-winning Surrey estate agent announces 650% increase in sales transactions in Q1 2012
The UK may have officially slipped into a double-dip recession but evidence of this is hard to find in Surrey’s golden commuter belt where award-winning estate agent, Barton Wyatt, reports a 650% increase in the total value of property sold in Q1 2012 compared to the same period only a year ago. Selling luxury family homes and apartments in affluent North Surrey and Berkshire, home to the exclusive Wentworth Estate, Virginia Water, Weybridge, Sunningdale and Ascot, Barton Wyatt has experienced uplift not only in the volume of property being sold in 2012 but also the value.
Barton Wyatt’s sales records show that back in Q1 2011, the average sales price was £1.75 million whilst just 12 months on, the average sales price has more than tripled to £5.8 million.
Commenting on this substantial growth, Partner James Wyatt, says,
“In contrast to much of the UK and indeed many global property markets, we have experienced marked growth over the last 12 months. Despite a brief lull in interest after the recent Budget announcement and hike in stamp duty, sales have picked up once again, especially to overseas buyers. This corner of the south east remains as internationally desirable as ever with 55% of all buyers in Q1 2012 being foreign nationals, mostly from Eastern Europe, Russia and the US, keen to purchase new or nearly new homes.”
Indeed this growing demand for larger, more expensive prime country homes has also been echoed by Knight Frank in their Prime Country House Index Q1 2012. According to the data, sales volumes overall were up on the year with a 13% rise in the number of exchanges; properties worth £5 million or more also continued to rise, up 2.1% compared to Q4 2011 and 2.8% compared to Q1 2011.
James Wyatt goes on to comment,
“With over 165,000 homes in Britain worth at least £1 million, there has been a definite shift in what we mean by the ‘high end market’. £2 million properties have become the old £1 million but the super wealthy, especially those from overseas who are often more liquid and hold larger equity, don’t think twice of spending in excess of £5 million on a home in the UK.”
In fact recent data reveals that there has been a 22% increase in the number of properties selling for £5 million or more in 2011 compared to 2010, so what can you get for Barton Wyatt’s average sales price in Surrey’s golden commuter belt?
Park House on the Wentworth Estate is one such highly desirable detached property on the market for £5.75 million. Hand crafted by Citigate Homes, Park House will be finished to the highest specification with exacting attention to details. The house extends to approx 8,500 sq feet and has been designed for the contemporary family lifestyle.
Comprising 5 grand reception rooms, 5 bedrooms suites and a dedicated cinema and games room, there is a separate self-contained staff flat with its own entrance situated over the three car garage. The mature gardens overlook greenbelt meadows to the rear with a mini putting green for the extra wow factor. For more information contact Barton Wyatt on 0134 484 3000 or visit www.bartonwyatt.co.uk.