Areas defying the property market downturn..
What, if any, is the link between Anglesey, Candover Valley and Streatham? All are on a list of places tipped by estate agents as having an “X-factor” that is helping to shield them from the downturn.
“It’s all very well saying that prices are down 13percent on average across the country,” explains Peter Bolton King, chief executive of the National Association of Estate Agents, “but the market is made up of very localised patches that vary street by street. Agents in some areas have even reported an upturn this month. The national figures do not give the bigger picture.”
The X-factor is not confined to the most expensive properties in the most salubrious locations. Less obvious towns, such as Warrington, also show potential to outperform, agents say, either because they are not overvalued, have already fallen in value by as much as 20 per cent, or look likely to benefit from planned regeneration.
Below are some of the places around Britain being tipped for their X-factor appeal:
Cotswold villages and Candover Valley, Hampshire
Rupert Sweeting, of Knight Frank: “Villages like Oddington and Broadwell are holding up. These areas are the property equivalent of blue chip shares, mainly because they are close enough to London for weekends.”
St John’s Wood, North London Spencer Botchin, of Kinleigh Folkard & Hayward: “This area has proximity to Central London but with a villagey feel. There are still a large number of foreign buyers and Canary Wharf workers. Students from London Business School rent here and a good family property does not take long to sell.”
Taunton, Somerset
Doug Withington, of Jackson-Stops & Staff: “The south side of Taunton is still popular. There are good private and independent schools and it is close to the M5. Angersleigh, Trull and Staplehay are proving popular.”
Anglesey, North Wales
Melfyn Williams, of Williams & Goodwin: “Realistic prices attract offers, so properties are selling. We are halfway through this month and have already sold the same as the whole of October 2007. Anglesey now has an airport with flights to Cardiff.”
Yorkshire villages
Julian D’Arcy, chairman of Knight Frank in the North: “Villages around Harrogate and Leeds have remained very popular as they are commutable. Homes don’t change hands often, so there is always a ready market.”
Upper Rissington, Gloucestershire
Karen Harrison, of Harrison & Hardie: “The old airbase closed about ten years ago and properties were sold off cheaply. They are still 10 to 15 per cent cheaper than anywhere else in the Cotswolds.”
Wirral
Sonia Mumford-Roach, a director at Bradshaw Farnham & Lea: “September was a great month. The Wirral is by the sea and has a lovely mixed bag of properties. It is well-placed for commuting to Manchester and Liverpool and there are good grammar schools.”
Lake District hideaways, such as Cartmel
Andrew Holmes, a partner at Carter Jonas: “We are slightly up on sales compared with last year. Cartmel is five minutes’ drive from Lake Windermere. Motorway access is excellent and it is five minutes from Cark and Cartmel station, which has trains to Manchester airport. People will always want a dream cottage here.”
Warrington
Paul Shawcross, of Bridgfords: “The WA5 postcode in Warrington is proving very popular. In Great Sankey, 1930s and 1970s semi-detached three-bed family homes are selling for the same price that terraced homes were 12 months ago. Competition is driving realistic pricing and plenty of sales.”
Streatham, South London
James Brooks, from Kinleigh Folkard & Hayward: “Cheaper than its neighbours Balham, Clapham and Battersea by at least 25 per cent. One and two-beds are under £175,000.”
West Cornwall
Jonathan Cunliffe, Savills: “Driving time from London is now reduced thanks to improvements to the A30, and the Paddington to Penzance rail link could become a bigger asset. The biggest reason to invest is the planned yacht marina between Mousehole and Newlyn.”
Blackpool
David Bexon, of SmartNewHomes.com: “Set to benefit from a regeneration scheme worth £300 million. English partnerships are also allocating up to £35 million for housing. The average house price of £124,018 is well under the national average.”
Canterbury
David Bexon, SmartNewHomes.com: “Homebuyers are keen to buy into impressive history and status as a World Heritage Site. The local economy has grown substantially, with thousands of businesses based in the city centre and plenty of job opportunities.”
Additional reporting by Lorna Blackwood and Francesca Steele. Story quoted from Timesonline