HOME TRUTHS ABOUT THE LOCAL MARKET - Savills
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WIMBORNE PROPERTY BRIEFING HOME TRUTHS ABOUT THE LOCAL MARKET
FEBRUARY 2021 Property profile
Factors shaping
YO U R LO C A L the local market
MARKET
The level of interest in the Dorset
property market remains high
“People have long been attracted to the beauty and diversity
of Dorset. But our distance from London has meant we’ve historically
lost out to the Cotswolds, Winchester and South Wiltshire
markets, which are better connected for buyers looking to move
from the capital.
However, due to a shift in mindset accelerated by the pandemic,
we’re seeing an increasing number of non-local buyers, lured by 1,755
changing work practices, improved technology and the better The number of homes in
general value Dorset represents compared to traditional commuter Dorset that we believe are
hubs. Between July and October 2020, 62% more buyers were non- worth in excess of £1 million,
local compared to the same period in 2019, with 16% from Surrey accounting for more than the
and Hampshire and 20% from Greater London. whole of the North East of
Excellent schools are part of Dorset’s appeal, and our buyers are England (1,618).
often people who went to school here and want to move back once
they have school-age children of their own. So, we’re seeing most
demand in the prime rural market – spacious houses with gardens 5,000
and views. Dorchester, Bridport and Sherborne have performed well, The approximate number
thanks to their proximity to schools and mainline train stations. of thatched properties
What does this mean in terms of activity? We saw a 108% increase in Dorset; accounting for
Source: Savills Research, Dorset Life, Land Registry, Savills dealbook data
in viewings from October 2019 to October 2020, and twice as many around 1 in 12 of all thatched
deals were agreed in November and December 2020 compared with properties in Britain.
the same period in 2019.
While there have been some delays in conveyancing due in part to
the rush to take advantage of the stamp duty holiday, 43% 20
of purchases have been made by cash buyers – helping to speed up The number of parishes
the process. We’ve also seen several competitive bids. In July 2020, across Dorset where the
I had a full asking price bid from someone on the way to the viewing average value of sales
before they had even seen the house. exceeded £500,000
The level of interest in the Dorset market remains high, so, between June 2015-2020.
whether you are thinking of selling your home or buying, renting In Hinton, Studland, Tarran
or letting, we’d be delighted to talk to you.” Gunville and Witchhampton,
the average exceeded
£700,000.
148%
The increase in new buyer
registrations in June-
Ashley Rawlings December 2020 compared
Head of Residential Sales to the same period in 2019.
+44 (0) 1202 856 873
ashley.rawlings@savills.com
2 — SAV I LLS .CO.U K
PROPERTY VALUES ACROSS WIMBORNE
Despite the economic backdrop, the areas in and around Wimborne had a strong end to the year in 2020.
Source: Savills Research using Land Registry and Savills Prime Property Index
"In 2020 we saw a surge in demand for prime property across Dorset as Key
people reassessed their work-life balance and housing requirements given Average transaction
their experience of lockdown. The county was particularly well placed to values in the 12 months
benefit from the rise in the demand for country and coastal living that we to September 2020
Below £200,000
saw across the wider prime market as lifestyle drivers came to the fore.
£200,000 to £300,000
As shown in the map above, beyond the micro markets of Sandbanks,
£300,000 to £400,000
Lucian Cook Canford Cliffs and Branksome Park in the Bournemouth-Poole £400,000 to £500,000
Head of conurbation, the greatest concentrations of existing housing wealth lie Over £500,000
Residential Research in the more rural parts of East Dorset running up to the Cranborne Chase,
+44 (0) 20 7016 3837 and some of the second home hotspots along the Jurassic Coast.
lcook@savills.com However, the nature of Dorset’s housing stock means that properties
worth over £1 million are spread far more widely across the county. In
2020, the number of agreed sales for such properties surged once the
housing market reopened; increasing by 136% from the end of
May 2020 to the end of the year, compared to the same period in 2019."
That said, given the economic backdrop, this was not accompanied by
runaway price growth. Even in the best performing parts of the prime
market – £2million+ country houses and prime coastal properties – prices
rose by 5.5% and 5.6% respectively.
3 — SAVILLS.CO.UK
"This historic 17th-century manor house was probably Mixed media
our most notable sale of the past year. It’s a very pretty We keep an eye
property with an illustrious history, purportedly having on market sentiment
hosted King George III. Working with our Country to achieve the very
Department in London, we launched when the first best results
lockdown was easing in 2020 – a combined approach
Ashley Rawlings that attracted a significant amount of interest and
Head of Residential Sales coverage. With a lake, stream and beautifully manicured
+44 (0) 1202 856 873 gardens, the house really captured the imagination and
ashley.rawlings@savills.com was just what people were looking for at that point."
UPWEY
A historic 17th-century manor house sold post-lockdown.
4 — SAVILLS.CO.UK
§§§§ OSMINGTON
A Grade II listed property sold to an overseas buyer via a virtual viewing.
"Over the summer in 2020, I got a call from a potential buyer Virtual reality
in Palm Beach who was planning to relocate back to the UK Through virtual
and was interested in this home. Given their location, this viewings and good
clearly presented some challenges, but once the first lockdown communication, we can
started to ease, I took a video of the property for them. They help instill confidence,
then sent a relative in the UK to go and view it, and they even from afar
George Nares reported back positively. I then conducted a virtual viewing via
Country House Department video call, walking them through each room. They made an
+44 (0) 20 7016 3822 offer and we exchanged contracts before they’d physically seen
george.nares@savills.com the house."
5 — SAV I L L S .CO.U K
STALBRIDGE
A beloved family home sold for more than the guide price.
"This charming Grade II listed villa had been owned Joining forces
by the same family for more than 70 years. It had been on Our wide-ranging
the market once before, but faced a number of issues services and specialist
as part of the garden had been sold off in the 1960s for knowledge helps secure
a development which had never been implemented. the best result
Naturally, prospective buyers wanted clarity so our
Jamie Morten valuation, planning and residential teams worked
Residential Sales together to resolve issues of ownership by negotiating
+44 (0) 1202 856 861 with the council, instigating a land swap and sorting
jmorten@savills.com planning permissions. This combined approach provided
buyers with confidence and we achieved a sale in excess
of the guide price."
6 — SAV I LLS .CO.U K
National coverage
Activity influencing
the wider UK market
OUR SERVICE
TO YO U
+3.6% The right buyer for your property may
The price growth across
already live in Dorset or the surrounding
the prime housing markets
outside of London in 2020. Our area. Often, we see buyers move from
country offices have seen an London in search of great schools, value
extraordinary level of activity,
and green spaces. Wherever they may be
driven by a renewed appreciation
for country living. coming from, we’ll help them find your
property. Thanks to Savills global network
of offices, your property is visible across
+73%
The increase in the number of the UK and internationally. Each of our
sales of £1 million+ property offices is dedicated to its local market
agreed in the last seven months
and understands its attraction and unique
of 2020 compared to the same
period in 2019. features. And once you’ve sold your property,
we’re here to help you move on to the next
stage of your journey.
+5.5%
The price growth in the Even if you are not looking to move soon, we
£2million+ country house market are happy to provide a free appraisal of your
Source: Savills Research, TwentyCi
across 2020. The upper-end of
property. Due to the current circumstances,
the market continues to
demonstrate its resilience to the we will be offering virtual appraisals and
wider economic factors at play. viewings in the first instance.
+2.0%
Our forecast for prime property
prices in the markets outside of
London over the course of 2021.
7 — SAV I L L S .CO.U K
Savills Wimborne
Wessex House, Priors Walk
Wimborne
BH21 1PB
+44 (0) 1202 856 800
Ashley Rawlings Jamie Morten Lizzie Ball George Nares
Head of Residential Sales Residential Sales Residential Sales Country House Department
+44 (0) 1202 856 873 +44 (0) 1202 856 861 +44 (0) 1202 856 872 +44 (0) 20 7016 3822
ashley.rawlings@savills.com jmorten@savills.com ljball@savills.com george.nares@savills.comYou can also read
