Oxford View - Knight Frank · Office Head T +44 (0)1865 790077 [email protected] 2 Oxford...

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


Fritwell

A fine Grade II* Elizabethan manor withstunning gardens and grounds


Hoggeston

Stunning Grade II* Listed GeorgianRectory


Broadwell

Cotswold farmhouse with renovationopportunities, in its own land


SOLD PROPERTIES

OddingtonA charming village house in theCotswolds


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


Evenlode

An immaculate Cotswold countryestate


Maugersbury

Prime Cotswold location and withinwalking distance of Stow on the Wold


Lidstone

One of the finest new houses to bebuilt in Oxfordshire in recent years


Islip

Stunning William and Mary Grade IIListed rectory


Evenlode

A classic traditionally built Cotswoldcountry house with distant views


Lechlade

Idyllic riverside country retreat in ahighly sought-after location


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


Lechlade

An elegant Queen Anne style familyhouse overlooking mature parkland


Freeland

Exceptional edge of village house withexcellent access to Oxford


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


SOLD PROPERTIES

ChastletonConverted Cotswold barn with land,outbuildings and equestrian facilities


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


Upper Oddington

A secluded Cotswold village housewith extensive gardens and cottages


Charlbury

Cotswold family house with large barnand stunning gardens near Charlbury


Northmoor

Converted period barn with outbuildings,land and views near Oxford


Taynton

A comprehensively renovated andextended Cotswold house in Taynton


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


Burcot

A beautiful family house and a large3.45 acre garden on the River Thames


Long Crendon

An outstanding equestrian property ina beautiful location


Akeley

A substantial family house andgardens in a wonderful position


Stadhampton

A Grade II Listed family house withattractive gardens and off-street parking


Brightwell-Cum-Sotwell

Period family house with lovely views,gardens, a tennis court and barn


SOLD PROPERTIES

RadleyA handsome village house with largegarden and tennis court


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


Frilford

A very peaceful and private 2 acrecountry property


Cholsey

A wonderful country house with land ina rural setting


East Hagbourne

Family house with annexe, stables,paddock and a mainline station nearby


Marsh Gibbon

Attractive period village house, withexcellent communications


Nether Winchendon

A rural property in an exceptionalposition with panoramic views


Marcham

A charming period family house andattractive garden


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



An elegant brand new bespoke familyhome in central North Oxford

Guide Price OIRO £2,750,000

Yarnells Hill

A private family home with exceptionalviews


Holton

A handsome late Victorian rectory withwonderful mature gardens


Beckley

A large family home within a few milesof Oxford city


Beckley

A family home in a popular villagewithin minutes of central North Oxford


SOLD PROPERTIES

Hill Top Road

A substantial detached family homelocated in Oxford city



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


Boars Hill

A refurbished family home in adesirable location on Boars Hill



A Victorian family home requiringrenovation with a south-facing garden


Boars Hill

Tudor style mansion within minutes ofthe city of Oxford


Iffley Village

Village living in the heart of the citywithin minutes of Oxford schools



A detached period family home withinwalking distance of Summertown


Cumnor Hill

An impressive family home just over 2miles from Oxford city


Central North OxfordA stunning brand property, withinwalking distance to Oxford city centre

SOLD


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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UK NETWORK1 Aberdeen2 Ascot * 3 Basingstoke 4 Bath 5 Beaconsfield 6 Berkhamsted 7 Birmingham8 Bristol 9 Cardiff10 Cheltenham 11 Cirencester 12 Cobham * 13 Edinburgh 14 Esher * 15 Exeter 16 Guildford 17 Harrogate18 Haslemere 19 Henley-on-Thames

20 Hereford 21 Horsham 22 Hungerford 23 Lauder 24 Leeds25 London † 26 Manchester27 Newcastle 28 Oxford 29 Sevenoaks 30 Sheffield 31 Sherborne 32 Stratford-upon-Avon 33 Sutton Coldfield 34 Tunbridge Wells 35 Virginia Water36 Winchester 37 Worcester

* Lettings Service † 19 offices across Central London

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

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