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."
