Market Review
Every month we develop leading regional market observations and predictions, helping
you to make the right decision about your home or investment.
October – November 2008
Experienced agents providing accurate marketing advice are getting results for their
clients. Our success rate for achieving sales is increasing despite the economic
uncertainty.
Marc Goldberg, Head of Residential Sales.
ANALYSIS
+ Why
now is a good time for international investors.
Research from Hamptons International illustrates the significant discounts available
to investors in UK real estate. The cumulative effect of falling house price indices,
the devaluation of the sterling and deep new-build developer discounts, offer a
remarkable opportunity for buyers with foreign-currency denominated accounts.
We forecast house prices down 15% year on year with new-build developer discounts
around the same level. Added to this a buyer with US dollars will find UK purchases
11% cheaper, for buyers with Euros the picture is even more upbeat, offering a 17%
discount to last year. The combination of factors offers property at discounts of
35% or more with the potential for significant long-term gains.
RESEARCH
+ Country renters from the capital
bring higher budgets.
Insight from Hamptons research reveals that London residents looking to move to
rental accommodation in surrounding counties bring a budget 9.5% higher than local
tenants.
On average a London tenant moving to the country has a budget expectation of more
than £25,000 per annum. The latest research illustrates a growing trend among London-based
applicants searching for an idyllic country rental property.
Thus far in 2008 Hamptons International has registered 3.2 times as many active
country applicants heading out of the capital when compared with the same time last
year.
Rob Bruch, Research Manager