English Country Estates Rising in Value
By BridgePoint-Ventures.com
English country estates are continuing to
pull in investors and rise in value, according to new
research. Savills Estates Index showed during the past six months
the total value of a typical estate increased by an average of 2.4
per cent. This rate of growth is greater than that recorded for
both country houses and prime central London residential property
for the year ending June 2013. This means the segment is just 0.3
per cent behind the peak recorded during 2008.
Rising farmland values have
helped to drive country estate prices upwards. Figures show
that for the first time since the downturn, a higher proportion of
a whole estate is tied up in farmland and farm buildings (35.4 per
cent), as opposed to the principal house (34.9 per cent). Crispin
Holborow, from Savills’ country department, said: “Estate values
have for some time benefited from the substantial rise in farmland
values. Our research shows that average prime arable values rose by
six per cent across Great Britain during the first half of 2013 to
over £8,000 per acre. Ten years ago, the same land would have cost
around £2,250 per acre.”
There is evidence of recovery in the other elements of value,
include cottages, which have seen prices rise by 3.7 per cent.
Marriage value – the premium attached to assets when all placed
together – increased by 3.9 per cent during the first half of the
year. Mr Holborow said: “This continuing improvement in marriage
value is perhaps the clearest indicator of an improving sentiment
in the estates sector.”
Meanwhile, investors are showing interest in rare and trophy
properties. Savills claims this is helping to ensure there is
“truly international” potential when it comes to buyers, and
interest has been witnessed from eight countries.
“The benefits of land ownership are now widely known,” Mr
Holborow said. “What will be interesting to follow is the
performance of these estates as the residential elements come back
into their own.”
Construction Lending and Finance News from BridgePoint Ventures
Source: http://www.bridgepoint-ventures.com/media-center/opinion/english-country-estates-rising-in-value/
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