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Autumn 06 Market Update

Robert Russell
26/10/2006 Robert Russell FNAEA Partner Rob is based in the Banbury office and heads up the residential property sales department. Rob also specialises in the purchase of country properties for clients.


Plumpton manorCurrently, the residential property market is generally buoyant. House prices rose in September for the 11th consecutive month and at the fastest rate in four years, according to the Royal Institution of Chartered Surveyor’s October 2006 UK housing market survey.  Halifax report a 1% rise in house prices in September alone, while Nationwide report in their October quarterly review, that the annual rate of house price inflation in the UK is now running at just under 7%.  This is the fastest rate of annual growth since early 2005.  

The prime markets are showing high levels of growth, reflecting the strength of the London and Home Counties markets.   This was illustrated by Fisher German’s recent sale of Plumpton Manor, Nr Towcester, Northamptonshire – a fine Grade II Listed house of 17th century origins with 3 reception rooms and 6 bedrooms, 10 acres of land and substantial traditional and modern agricultural buildings.  After stiff competition the property sold well in excess of the £1,750,000 guide price.

Smallholdings and properties with land continue to be in strong demand. 


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