'Get the fundamentals down and the level of everything you do will rise', and in times of uncertainty, fundamentals are reassuring. We saw this when the world last 'stopped' in 2008. The London monopoly board drew investors, as did best in class country houses, art, cars and other collectables.
This summer has certainly been eventful and the post Brexit vote world feels a little different from the one before. 2016 has been a year of events, with a gold rush to buy second homes and investment properties before the April Fool’s Day deadline set by the last Chancellor, to start such a memorable and historic twelve months.
There has been much talk of the unintended consequences of leaving the European Union, and in particular how this might affect our property prices. The perceived wisdom is prices will fall, yet England is a land of counties, towns, cities and villages – each with its own, unique property market. Generalising that house prices will fall upon concerns of economic uncertainty is perhaps understandable but only where a market is over inflated against demand.
Salisbury is some twenty five miles as the crow flies from Winchester, via a scenic route which takes in some of the prettiest countryside in our land. Yet Winchester prices are around double those of such a close by cathedral city. Winchester commuters save around twenty five minutes on their journeys to Waterloo. Whilst Salisbury has Grammar Schools for both boys and girls.
Living in and around a beautiful city, with its weekly markets, busy schedule of cultural events, wonderful prep schools and a choice of five rivers is special indeed. Good houses in the city sell well, as do lovely properties in the villages that nestle along the handful of river valleys that converge upon Salisbury.
We have certainly seen an appetite for houses on rivers this season, in particular from those returning to the UK. Fishing is one of the greatest pastimes, and living along a stream is a joy, even when the great floods of a few years ago remind us of the power of nature and how riverways need to be managed. Fishing is possible upon one of the five rivers that meet here. There is also a wildness about the place, with lower stocking and less manicuring than can be found on nearby chalks streams across the county line. Much of the famous fishing on the South’s chalk streams is never sold or has become beyond the reach of the mere mortals. Yet there are houses with riparian rights around Salisbury at a variety of price points, allowing anglers and riverside romantics the best of both worlds.
My view is that in such a ‘small’ city as Salisbury, where demand outweighs supply and property feels good value compared to the next county – there will continue to be a market, without the need for a radical re-adjustment.
Winkworth Salisbury is run by experienced agents, who have worked through turbulent markets in the eighties, nineties and noughties. Clear, concise marketing, the best photography, a confident steady pair of hands and a tenacity to get the job done are what are required.
We are and will continue to sell houses this summer, whatever the climate. Talk to us, we love property and people, matchmaking is just one of our skills! We may not have seen a Brexit market before but we have fifty years or so experience in our team, advising clients and achieving results in the ever changing market of an ever changing world.