
Oliver Custance Baker
Director, National Country House Department
Director, National Country House Department
The political ups and downs of the past couple of years resulted in a sticky market for country houses in 2023, with confidence an issue for both buyers and sellers. Thankfully this summer brought a new energy into the market, with applicant figures and the number of offers received higher this September than the same month last year.
Viewing numbers are also now trending upwards and the percentage of deals falling through is dropping - a sure sign of confidence: ‘After a typical strong start in January and February, this spring was quieter than predicted as campaigning for the General Election got underway,’ explains Oliver. ‘But after the results were in on July 5th, the summer saw a number of brilliant sales achieved across the country. Take Hartham Park in Wiltshire, for example, which received competing offers before exchanging for well over its asking price of £8 million.’
Indeed, this shift in positive sentiment was seen across the department, with the team recording a 15% increase in offers received in the last two months – no doubt spurred on by the Bank of England’s first base rate cut for four years in August. Last month Halifax also reported UK house prices hitting a two-year high, and agents are widely expecting this new energy to continue into the winter months on the other side of the Autumn Budget.
Brankstone Grange Castle, Fife
For potential sellers, a new wave of determined buyers has arrived fresh to the market, adds Oliver: ‘Those keen to buy are serious, and they know their stuff. These days people do their research and have often been keeping an eagle eye on prices and sales in their chosen area.’
Local amenities are also a factor, he stresses: ‘Whether buyers are on the hunt for a manor house, a property in a market town, or a pretty village house, they ideally want easy access to a train station, decent schools (good state catchment areas are in particular demand), a nice pub or two and pretty countryside walks. And when they see their dream property in a great location, they know that another one like it may not come around for years, which can make a buyer highly motivated.’ That said, pricing, as always, remains key: ‘Vendors must be realistic - if you price yourself too high you will not get the viewings, and the momentum which follows,’ he concludes.
Regionally every area has its own particular market: for instance, our Oxfordshire offices have seen a significant number of important sales on the private market, while the open market in the South East is busy with buyers coming out of London who are impressed by the easy commute and the excellent grammar schools.
Families who have flexible working in place are drawn to the beauty of Yorkshire or the West Country, while up in Scotland and the North, our expert teams are accustomed to selling everything from castles to sporting estates. Meanwhile the second homes market remains strong, particularly in waterside locations where the increase in flexible working means owners can spend between four to six weeks in their second home in the summer, which only adds to the appeal.
Looking ahead, the Country House Department is gearing up to launch some more exceptional country houses for sale throughout the autumn, employing bespoke marketing strategies to ensure that every new launch is seen by the right people. ‘A fantastic house priced correctly will always generate interest,’ explains Oliver. ‘And that’s what it’s all about – bringing a client together with the perfect buyer for a sale which leaves everybody feeling good about the outcome.’
Contact the National Country House Department here.
Article originally published in Country Life.
Lead image: Maybanks, Surrey