Values, trends and forecasts for Beaconsfield's residential property market
A snapshot of the Beaconsfield property market
The many attractions of Beaconsfield, a market town since 1275, include beautiful period architecture, a strong sense of community, great schools and proximity to the Chilterns. This Area of Outstanding Natural Beauty has hills, chalk streams, superb views and dozens of wonderful walks. Beaconsfield’s surrounding villages, such as Seer Green, Bledlow, Jordans or Penn, are some of the prettiest you’ll find and are proving increasingly popular areas for families to settle. Beaconsfield is a handsome, well-maintained place - in which residents have considerable pride. It’s no wonder that so many films and TV dramas have been filmed in this Buckinghamshire hotspot, whose name is derived from the Old English ‘clearing in the beeches.
Those who move here often say that they enjoy the best of town and country - so much of everything is on their doorstep
The Old Town, with its elegant historic high street, has plenty of boutiques and restaurants, as well as a charming market every Tuesday where you can buy fresh bread, cheese and other foods. As you take a stroll to one of the coffee shops you will see Tudor, Georgian and Victorian architecture along the way. In the New Town you’ll find plenty of amenities and this part of Beaconsfield is an exemplar of sensitive development of the highest quality. Nearby in Forty Green, The Royal Standard claims to be one of the oldest pubs in Britain.
The number of London buyers has increased steadily, as well as interest from international buyers. Those who move here often say that they enjoy the best of town and country – so much of everything is on their doorstep. Families like the excellent mix of private and state schools; they are one of the major reasons so many Londoners relocate to Beaconsfield. Another driver of the town’s surging popularity with buyers is its convenience and connectivity, whether you are commuting to London, headed to Heathrow or elsewhere. The trip by Chiltern Railways to London Marylebone takes just 23 minutes and the service is regular. If you are travelling by car, the proximity of the M40 junction with the M25 is very handy. Properties that are within easy reach of the railway station and local amenities are seeing their prices hold best, particularly if they require little to no maintenance.
Beaconsfield has much to offer, but if you are in the mood for something smaller, you can take a trip to Bekonscot in the town, the world’s oldest original model village. If you want something more grand, two celebrated stately homes are nearby: Cliveden and Hughenden. There really is something for everyone.
Research and insights
Demand for residential property has increased significantly over the past two years. There has been a rise in local upsizers and downsizers and those relocating to a new area. In many cases, those who have greater flexibility around where they work, have been able to consider parts of the commuter zone they wouldn’t have looked to previously. Good connectivity to London means Beaconsfield and its surrounding towns and villages have seen a rise in demand.
Prime prices across these markets have increased by an average of 15.8% since the beginning of the pandemic in March 2020. More recently, economic uncertainty, inflationary pressures and higher interest rates has led to some caution among buyers as their spending power has come under pressure. Whilst the prime markets tend to be more driven by equity than debt, they aren’t completely immune to these pressures. As such, we have begun to see price growth slow. Values increased by an average of 5.0% in the year to September, down from a peak of 10.0% in March 2022.
Looking ahead, the prospect of further rate rises is likely to impact on buyer sentiment and limit their budgets. We are forecasting prime prices to fall by an average of -8.0% by the end of 2023 across the inner commute region, unwinding some of the growth seen since the start of the pandemic. During this period, sensible pricing will be fundamental to achieving a successful sale and both buyers and sellers will need to be realistic. Over the medium term, once the economy picks up and we see an improvement in mortgage costs, demand will rise again and so we predict that values across the inner commute region will increase by a total of 8.6% by the end of 2027.
Sensible pricing will be fundamental to achieving a successful sale and both buyers and sellers will need to be realistic
The lettings markets have also seen low levels of available stock and increased demand which has led to rent rises. But rental growth has also begun to slow with values in September remaining in line with where they were in June and annual growth easing back to 4.0%.
Generally, demand has come from a variety of tenants including young professionals, those wanting to try before they buy and those biding their time to see what happens in the sales market. This means there has been some difference in performance between property types with larger family homes seeing stronger levels of growth. Inflationary pressures and the cost of living are beginning to impact on tenants’ budgets and this is likely to continue. At the same time, a rise in accidental landlords, given the weaker sales market, could also increase supply. Though it’s unlikely this will be enough to make up for the severe stock shortages currently evident. So we are anticipating the strong rental growth which we have witnessed lately will moderate significantly.
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