UK: These are the current prime property hotspots outside of London
By James Lockett
Research by the leading mortgage broker for global high-net-worths, Enness Global Mortgages, has revealed which areas of the property market are seeing the most prime purchases outside of London.
Enness analysed property transactions for £3m and above across England over the last year and found that 886 homes were sold within the prime market with an average sold price just shy of £4m.
London accounted for 78% of these high-end transactions, however, the South East (15%), South West (3%), East of England (2%), North West (1%) and West Midlands (0.2%) also saw a number of homes sell for £3m or above.
Outside of London, Elmbridge ranks as the nation’s prime property hotspot with 31 homes sold in the last year. Buckinghamshire also saw the number of high-end homes swapping hands sit in double figures (14), as did Windsor and Maidenhead (11).
Runnymede (9) and Bournemouth, Christchurch and Poole (9) also ranked high for posh property sales, along with Waverley (8), Chichester (7), Cornwall (6) and South Oxfordshire (6).
The rest of the top 15 included Sevenoaks, Oxford, St Albans, Hertsmere, Cheshire East and the New forest, all of which saw five homes sell at £3m or more in the last 12 months.
Teignbridge was home to the highest sold price outside of London at £6.2m, with Stratford-on-Avon also breaking the £6m mark (£6.15m).
CEO of Enness Global Mortgages, Islay Robinson, commented:
“With so much talk of the prime London market, you could be forgiven for forgetting that plenty of homes change hands for considerable sums outside of the capital.
We’ve seen lockdown spur an uplift in buyer demand for bigger homes with more outdoor space and this is no different at the very top end, with high-end homebuyers also keen to upgrade the pandemic property potential.
While the highest price of property means this high-end activity has been largely focussed within the south, the North West has no doubt cemented it’s spot as the prime property hotspot of the North.â€
| Table shows the number of transactions and median sold price across the £3m+ market | |||
| Location | Count – transactions | % of all transactions | Median Sold Price |
| England | 886 | N/A | £3,999,975 |
| London | 692 | 78% | £4,050,000 |
| South East | 136 | 15% | £3,750,000 |
| South West | 30 | 3% | £3,500,000 |
| East of England | 18 | 2% | £3,727,500 |
| North West | 8 | 1% | £3,418,100 |
| West Midlands | 2 | 0.2% | £4,800,000 |
| Data sourced from the Land Registry Price Paid records for primary property purchases completing between Mar 2020 and Feb 2021 (latest available data). Excludes properties listed by type as ‘other’. | |||
| Table shows the top 15 highest transaction levels at £3m and above | ||
| Location | Count – transactions | Median Sold Price |
| ELMBRIDGE | 31 | £3,800,000 |
| BUCKINGHAMSHIRE | 14 | £3,712,500 |
| WINDSOR AND MAIDENHEAD | 11 | £3,750,000 |
| RUNNYMEDE | 9 | £5,605,000 |
| BOURNEMOUTH, CHRISTCHURCH AND POOLE | 9 | £3,500,000 |
| WAVERLEY | 8 | £3,555,000 |
| CHICHESTER | 7 | £3,675,000 |
| CORNWALL | 6 | £3,300,000 |
| SOUTH OXFORDSHIRE | 6 | £3,675,000 |
| SEVENOAKS | 5 | £3,390,000 |
| OXFORD | 5 | £3,650,000 |
| ST ALBANS | 5 | £3,830,000 |
| HERTSMERE | 5 | £3,800,000 |
| CHESHIRE EAST | 5 | £3,386,200 |
| NEW FOREST | 5 | £5,000,000 |
| Data sourced from the Land Registry Price Paid records for primary property purchases completing between Mar 2020 and Feb 2021 (latest available data). Excludes properties listed by type as ‘other’. | ||
| Table shows the top 15 highest average sold prices at £3m and above | ||
| Location | Count – transactions | Median Sold Price |
| TEIGNBRIDGE | 1 | £6,200,000 |
| STRATFORD-ON-AVON | 1 | £6,150,000 |
| RUNNYMEDE | 9 | £5,605,000 |
| COTSWOLD | 2 | £5,400,000 |
| NEW FOREST | 5 | £5,000,000 |
| WILTSHIRE | 2 | £4,997,850 |
| SOUTH HAMS | 2 | £4,632,000 |
| EPPING FOREST | 1 | £4,500,000 |
| HORSHAM | 3 | £4,375,000 |
| CHERWELL | 1 | £4,250,000 |
| HART | 2 | £4,201,800 |
| WINCHESTER | 4 | £3,950,000 |
| MOLE VALLEY | 2 | £3,900,000 |
| STROUD | 1 | £3,850,000 |
| ST ALBANS | 5 | £3,830,000 |
| Data sourced from the Land Registry Price Paid records for primary property purchases completing between Mar 2020 and Feb 2021 (latest available data). Excludes properties listed by type as ‘other’. | ||
END
Notes
– Enness Global arranges high-value mortgages and finances secured against prime real estate in the UK and internationally.
– They work exclusively with over 500 global lenders to secure the best terms based on individual circumstances.
– They offer cohesive global mortgage solutions via a network of international offices and understand the intricacies of individual market places.
– Enness CEO, Islay Robinson, co-founded the company in 2007 and his expertise have recently been recognised by The Spear’s 500 Guide to the best private client advisers and also by Tatler, being the first HNW Property Financer to be included in their address book.
– Co-founder of Enness and Managing Director Hugh Wade-Jones is a widely recognised industry leader, winning Best Broker for Large Loans for three consecutive years, and described by the Financial Times as the to go mortgage broker for the super rich.
– Both have decades of industry experience between them and are unrivalled in their knowledge of the sector.
