Tuesday, October 20, 2009

Counting down in 10...9...8...

... in only 10 weeks across May and June all but 2* of the Runneymede Homes, Saville Place apartments were sold via local estate agent, Barton Wyatt. First time buyers, downsizers and even investors have been the hungry property audience for this development capitalising on the zero stamp duty threshold and prime location in Englefield Green Village, Egham.

With prices from £174,500 the high specification one and two bedroom apartments are not all subject to stamp duty one of the key appeals for the buyers, however Judith Hogg-Fox, one of the buyers comments, “The stamp duty threshold is always in the mind when one is looking at this price band although I would not strictly have bought only based on the threshold but more on the actual property itself”. All of the 10 apartments include an open plan, fully fitted kitchen/living room and stylish bathroom. The master bedroom in the two bedroom also incorporated an en-suite shower room.

James Wyatt, Senior Partner at Barton Wyatt Estate Agents Surrey, comments, “For the first-time buyer Saville Place offers affordability and value for money, a phrase rarely used throughout much of the 2007 property peak. First-time buyers have for a long time been priced out of the market and now that property prices have stabilised and finance has become more available, many are jumping at the opportunity to get on to the ladder. Equally those struggling in the current economy or with changes in circumstance are looking for spacious and well finished homes to downsize to, without losing those home comforts they have become accustomed to.”

According to Nationwide the average UK home went up 0.9 per cent in June, which is the third time in four months that the building society has announced a rise in values. Experts are reporting that now is a good time to buy bricks & mortar, with tentative predictions of a relatively positive outlook for the rest of 2009. James Wyatt further states, “2008 was an ailing year for estate agents but in 2009 so far we have seen a strong revival in the market especially at the lower end with increased confidence from both buyers and sellers. Across the first 4 months of this year, we at Barton Wyatt have gained a 75% market share highlighting the continuing boost in the market.”

Even so, it may seem surprising to hear that investors in the Surrey area are still looking for buy-to-let investments, selecting only the best quality and prime location apartments to dip into their pockets for. Saville Place in Englefield Green Village is close to the Royal Holloway University of London meaning an annual demand for student lets in the area, a reliable choice for any investor; this is one of the main reasons Judith Fox-Hogg invested, she continues, “I already have successful rental properties in this area and it’s an area I know very well”. One of the first time buyers is also a student at the University.

For more information, contact Barton Wyatt Letting Agents Surrey