The Savills Blog

Perspectives of the top end of the UK's residential market

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LoEach year, Spear’s Magazine publishes The Spear’s 500, described as ‘Europe’s definitive guide to the top wealth managers, lawyers and advisers for HNW individuals. The magazine's index of property advisers for 2016 features five agents from Savills. Here, they give a snapshot of life at the top end of the UK’s residential market in 2016.

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Jonathan Hewlett, Head of London Residential Sales:

In 30-plus years in this business, I’ve seen the Prime London residential market ebb and flow as the city has grown to become a leading global player.

There’s been much recent talk of a slowdown. The pace has certainly changed, but there is very definitely still a market for the best, and the reasons for wanting a home in London remain the same: the culture, the restaurants, the food, and the education. I even heard ‘I love the rain’ from one buyer last summer.

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David Forbes, Director, Savills Private Office, described by Spear’s as having ‘perhaps the most enviable contacts list in property’:

London remains an attractive destination for many ultra-wealthy buyers, but others are inevitably looking to places like Sydney, Auckland, Vancouver, Los Angeles and San Francisco, all offering the prerequisite of good education and relative political and financial stability.

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Crispin Holborow, Director, Savills Private Office:

There remains real value in certain sections of the country house market, though demand for the very best can lead to competition. There’s a definite trend towards the ‘low key’, as exemplified by the success of Soho Farmhouse, Soho House's latest outpost in Great Tew. Homes that appear quite simple or modest, yet still offer all the bells and whistles, and are set in an amazing location, are what many buyers are looking for.

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Alex Lawson, Director, Savills Farms and Estates:

Farmland values may have plateaued in 2015, but rural estates remain a really sensible, defensive asset class for a mixed portfolio of investments. As well as active farmers, buyers range from ultra-high-net-worth individuals and families looking for capital protection to modern or more traditional corporate bodies – all attracted by the secure nature of the investment.

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Toby Anderdon, Savills Knightsbridge, one of just five ‘rising stars’ named by Spear’s:

Increased taxation may see some investor buyers exit the market, but it’s hard to see chinks in London’s long-term investability. As such, we’re advising buyers to take a five to 10-year view over which time they could see anything from 20-50 per cent on capital yield.

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