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July 13, 2017

The great British tradition: English village living

Filed under: Latest News — Instinctif Partners @ 12:14 pm

Nick Leeming, Chairman of Jackson-Stops & Staff, provides his insight on the price premium for an English village home:

Village life has always been an attractive prospect. From local pubs and quaint tea rooms, to traditional churches and independent shops, villages ooze community spirit. It is no wonder then that quintessentially English homes now come at a premium.

Our latest research shows that when it comes to typical village homes, including farmhouses, old rectories and barn conversions, the parochial property pecking order is still very much in play.

The apex of the village, the centre of all local life, is the manor house. They command the highest average sale price at £1,427,292, which is over six times greater than the average UK house price of £218,000. Manor houses benefit from both glamour and prestige, spacious living accommodation and manicured grounds, which is why they continue to boast a healthy premium on the property stage – and will do for many years to come. Despite their chunky price tags manor houses do offer the best value for money per square foot of space.

 

 

 

 

 

 

 

 

 

 

 

 

Cottages on the other hand, with their quintessentially diminutive proportions, are the least expensive with an average sale price of £607,465. However, this is still almost three times more expensive than the average UK home.

In terms of price per square foot, barn conversions were the most expensive, coming in at £325, pipping the humble chocolate box to the post by £5 per square foot. Farm houses rank in third position when comparing property types on both a square footage and overall sale price basis. This type of property is nearly six times more expensive than an average UK home, with an average sale price of £1,257,918.

Regardless of location and proportions, interest from those looking to become part of English village life is often sparked by a name alone. Properties called The Old Rectory are particularly popular and draw interest from potential buyers before they have even had a glimpse of what the home looks like.

There are currently many buyers in the market craving to move to a classic English village, and the prospect of living in a characterful property in such an area is extremely appealing. They provide buyers with the opportunity to purchase a unique piece of history, in which they can spend many years and make memories they will remember for many more.