Americans are flocking to ‘Hamptons of England’ as cost of buying property plunges by 40 percent

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Americans are flocking to ‘Hamptons of England’ as cost of buying property plunges by 40 percent

By Laura Parnaby

Americans are flocking to the ‘Hamptons of England’, where the cost of buying a charming countryside property is 40 percent cheaper than purchasing stateside.

Nestled within a range of rolling hills which rise from the lush meadows of the upper River Thames to the cliffs beside the Severn Valley, the Cotswolds is a picturesque holiday destination located a scenic 90-minute train ride from London.

‘It’s terribly beautiful. The scenery is glorious,’ said local store owner and Boston native Jesse D’Ambrosi, who moved to the area five years ago.

Home to 91,000 people, the Cotswolds, which straddles six southern English counties and is governed from Gloucestershire, comprises the largest swathe of protected natural beauty in the United Kingdom.

Punctuated by quirky local businesses and honey-colored limestone cottages, its stunning green pastures have long presented an attractive escape from the capital for those wealthy enough to afford a second home.

In recent years, it’s also seen a boom in popularity from American expats, who bring a host of new demands to the area while embracing quintessential English country life.

Cotswolds Council leader Joe Harris said Yankees are now ‘all over’ the area. ‘We have an American member on our council,’ he told the Daily Mail. ‘Most people in our area know an American or have an American neighbor.’

This is reflected in the footfall at D’Ambrosi’s Fine Foods store, which sells classic American snacks it’s hard to find anywhere else in the UK.

The colorful eatery attracts a hefty 50 customers each day on average, despite being located in the market town of Stow-on-the-Wold, which sits atop an 800-foot hill.

‘As a joke I would get in some American products and put them in the window. I was shocked at how much of that product I moved,’ D’Ambrosi told the Daily Mail.

The store offers luxury Thanksgiving and Fourth of July hampers, as well as classic American snacks like bright orange Goldfish crackers and crimson jars of Lawry’s Seasoned Salt.

D’Ambrosi enjoys life in a cozy cottage with her seven-year-old daughter Rose, after previously living in Amsterdam, Paris and New York City, with her now ex-husband.

The local entrepreneur said the easy commute to London from the British country escape makes it comparable to the ritzy Long Island beaches which are a stone’s throw from Manhattan.

‘The Cotswolds is the Hamptons of England – without the sea of course,’ D’Ambrosi told the Daily Mail. ‘It’s also comparable to going upstate, though it’s a bit more rural and bucolic.’

Private members clubs have proliferated in the Cotswolds in recent years, reflecting this influx of a new kind of wealth akin to the Hamptons elite – as opposed to the traditional agricultural landowning families who have lived in the area for centuries.

English real estate experts Camilla Dell and Harry Gladwin told the Daily Mail that Americans have increasingly been looking to the UK for home purchases over the past half-decade.

‘Americans are a significant buying force for UK property,’ said Dell, the founder of Black Brick property consulting firm, where 25 percent of clients are from the US, bringing an average budget of $1million to $10million for a second home.

Dell, who herself has a holiday home in the Cotswolds, said Americans started flocking to the UK in greater numbers ‘five to six years ago’, when the dollar was comparatively strong against the pound in the aftermath of Brexit.

‘We started to see a significant uptick in American inquiries at that point,’ Dell said.

‘Since 2014, the London real estate market hasn’t really gone anywhere,’ she added.

Dell said the combination of this property market plateau, relatively higher wages in the US, and the dollar strengthening against the pound means Americans purchase homes ‘at almost a 40 percent discount’ compared with in 2014.

She added that the UK government’s abolition of non-domiciled tax status is also a draw for wealthy Americans.

Gladwin, who runs the Cotswolds division of property consulting firm The Buying Solution, said affluent American expats coming to the UK are honing in on his region in particular.

‘We’ve definitely seen a noticeable rise in interest from American buyers in the Cotswolds over the past few years,’ he said.

‘Americans are drawn by the area’s natural beauty, historic charm and strong sense of community, often built around wonderful village pubs – it’s a perfect slice of English country life.

‘Many are looking for a second home or a lifestyle shift and the appeal of achingly beautiful Cotswold stone houses, privacy and space continues to resonate strongly.’

‘When Americans think of the quintessential British countryside, the Cotswolds comes to mind,’ Dell agreed.

She said Americans love the chocolate-box cottages built with local Jurassic limestone which make every village look like a scene from The Holiday.

Dell said popular destinations include the ‘golden triangle’ of villages which are most easily accessible from London – comprising D’Ambrosi’s hometown of Stow-on-the-Wold, along with Chipping Norton and Burford.

Maryland native Sarah Kirk, 43, is among the American expat community who relocated to the ‘golden triangle’, partly because her husband is from the area.

The homemaker, who has four children aged between two and nine, shares a glimpse of her fairytale life in the Cotswolds each day with her 31,000 Instagram followers.

She said she loves ‘the slower pace of life, emphasis on seasonal living, beautiful landscapes to explore, and conservative small-town values’.

Kirk spoke with the Daily Mail over the phone from her sprawling backyard – or back garden in British – as birds could be heard chirping in the background.

‘It’s just a really beautiful part of the country where people go to look for that country living feel,’ she said.

‘My children have a lot of free rein here, a lot of places to wander. It’s a slow childhood,’ said Kirk, who previously lived in rural Virginia and South Carolina, as well as New York City and Washington DC.

‘There’s space here, not only physically but mentally, for a lot of peace. We are sheltered from some of the bigger issues that you might have in city life.’

Kirk said she has noticed the boom in private members clubs, usually frequented by Londoners she refers to as ‘the white trainers (sneakers) crowd’, who come up to the Cotswolds for a weekend retreat, which has given pockets of the area a ‘Hamptons-like’ feel.

Relatively new Cotswolds clubs include The Lakes by Yoo spa which is partnered with British supermodel Kate Moss, and Estelle Manor in Eynsham Park.

The quintessentially English Aynhoe Park was recently bought up by American furnishings company Restoration Hardware (RH), and it now sells the US-made fittings.

Dell said RH hosted an opening party at the stately home in 2023, which drew in a star-studded crowd featuring the likes of Sydney Sweeney, Zoe Saldaña, Regé-Jean Page, Ellen DeGeneres, Portia de Rossi, and supermodel Jourdan Dunn.

Local councilor Sandra Smith, who moved to the beauty spot in 1987 from Seattle, Washington, said that despite the celebrity buzz surrounding both the Hamptons and the Cotswolds, the latter is much more inclusive.

‘The Hamptons is all set up for really rich people with rich people things. It’s not like that here at all,’ the 59-year-old told the Daily Mail.

‘It can be upper class if you want it to be, but you can do it cheaply as well.’

‘There are a lot of local businesses that are really quite quaint. It’s not all Jeremy Clarkson,’ she added, referring to the Top Gear host’s Diddly Squat Farm shop.

‘There’s a big arts culture out here. It’s a little bit bohemian.’

Smith, who lives in the ‘Cotswolds capital’ of Cirencester, said she only planned on moving to the area for two years back in the eighties, but she fell in love with the ‘tiny houses and cars’ and ‘sense of community’.

‘I just really like living in Britain,’ she said. ‘The American middle-class lifestyle is a big house and a big car – but it’s a bit soulless.

‘You spend a lot of time driving around to shopping malls in the US and everything is so far apart. I love how you can do anything on foot around here.

‘Plus, my friends from America are always talking about gun crimes and shootings. Nothing like that happens here. It’s wonderfully boring and stable.’

Smith asked the Daily Mail to use a pseudonym to protect her identity due to concerns about traveling as a naturalized Brit under Donald Trump’s administration.

She said she gave up her American citizenship decades ago in exchange for a British passport.

Black Brick founder Dell added that ‘political reasons’ have ‘certainly’ been driving American buyers to the Cotswolds more recently as people are keen to escape Trump’s hardline policies on issues like immigration, and college arts and sciences funding.

Liberal Democrat council leader Harris agreed that ‘many’ recent expats he has spoken with ‘are trying to get away from the political reality in America’.

‘We like having our American cousins here, they are very welcome,’ he added. ‘There’s a strong community here.’

The Daily Mail revealed in March that the number of Americans seeking UK citizenship had reached record levels since Trump was elected for a second term.

More than 6,100 US citizens applied last year, an all-time high after figures began two decades ago and 26 per cent more than in 2023.

US clicks on British job listings were also up 2.4 percentage points year on year to 8.5 percent, the sharpest increase from any country, according to job search site Indeed.

Immigration lawyers have said Trump’s presidential bid and victory in early November helped spur the increase in American movers, with others adding the US political landscape was ‘a very serious driver’.

This was epitomized by Ellen DeGeneres, when she stormed out of Hollywood following the presidential election in November and embraced a fresh start in a £15million ($20million) Cotswolds farmhouse.

The 67-year-old former talk show host moved across the pond with her celebrity wife Portia De Rossi, 52, but it wasn’t plain sailing. Their new home was surrounded by floodwater, prompting them to move to a new mansion around the corner.

Gladwin said celebrities are commonly drawn to the area because it ‘offers a discreet haven for high-profile individuals’.

‘With its low-key villages, excellent pubs and growing number of exclusive private members’ clubs like Soho Farmhouse, Estelle Manor and The Club by Bamford, it’s become a fashionable escape for celebrities and creatives,’ he told the Daily Mail.

‘They appreciate the balance of luxury and informality, all within reach of London and with great connections to the US.’

Ron Burkle is one of the ordinarily low-profile American real estate magnates who is eyeing the Cotswolds for his next project, called the Serpentine Lodge.

However, he spoke with the Daily Mail after he came up against unprecedented opposition from locals who railed against what they called his plans to construct a ‘McMansion’ amid their cozy cottage cul-de-sac.

Burkle said he wanted to work with local people to make sure everyone was happy with his scheme – though it might take a lot of negotiation.

The area is also home to former British Prime Minister David Cameron, or Lord Cameron of Chipping Norton, David and Victoria Beckham, X-Factor judge Simon Cowell and the Bamfords.

Though celebrities and high-flying businessmen occasionally threaten the natural harmony of the area, Smith, who works in town planning, added that the Cotswolds’ unique charm stems from its status as a protected area of natural beauty since 1966.

She said it’s the most perfectly-preserved pocket of traditional English countryside.

‘Much of the Cotswolds is a conservation area, which means developers can’t change much,’ she told the Daily Mail.

‘This is how it retains its character – it’s always going to be this way.’

 

This is why your home won’t sell

Estate agents and property experts tell the brutal truth about the ten things they know will sabotage a sale – and the nine that their buyers now demand

By Graham Norwood

The housing market is hotting up with prices and sales set to head north in the coming months, according to the respected Royal Institution of Chartered Surveyors.

Online agency Yopa says there are 84,000 more homes listed for sale in the UK today than at the time of last month’s Budget – an increase of 11.4 per cent.

This means sellers need to emphasise what makes their home extra-attractive to would-be purchasers – and not let buyer turn-offs get in the way of a deal.

We’ve spoken to estate agents and property experts to reveal the most sought-after home features – and the ones to avoid at all costs.

What buyers hate

Bonkers house names

‘Buyers dislike inappropriate names,’ explains Jason Corbett of Rowallan Buying Agents. ‘They’ll be bitterly disappointed if they expect a decent-sized family home called “Manor House” but it’s actually just a small cottage.’

Dr Lynn Robson of Oxford University, a house title expert, says names like The Barn often reflect what owners would have liked the property to have been, even if it’s really in the middle of a housing estate. And she warns that odd names can be a deterrent. ‘Would you buy “Cobwebs” if you’re afraid of spiders?’ she asks.

Modern fittings in period homes

‘Bad quality double glazing and especially plastic windows in period properties are unpopular,’ says Karen Hedges of the John Payne agency in south east London. Fittings must compliment the aesthetic of the house, not clash.

Cheesy 1970s features

Magnolia paint or carpets in bathrooms and kitchens are big no-no’s for Alastair Cochrane of the Stirling Ackroyd agency. Meanwhile, Tony Wheeler, of the Leaders agency, says other throwback nightmares include ‘textured ceilings and outdated appliances’.

Decking

Nick Cunningham of Stacks Property Search warns: ‘Unless it’s obviously part of a design scheme and beautifully installed, decking can be viewed as a cheap and lazy option – think quick home transformation TV shows.’

If you have decking and don’t want to scrap it, make sure it doesn’t show its age through insect damage, rotting boards, or exposed screws becoming trip hazards; a thorough re-sealing and re-painting will boost appearances.

Gnomes

‘They’re appalling. People laugh at them and sometimes laugh at the owners too. It sets the wrong tone about a home so hide them in a shed during a viewing,’ recommends Dorset buying agent Tracey Adamson.

Clutter

Take a leaf out of Stacey Solomon’s book and sort your life out – otherwise say goodbye to a quick sale. Josephine Ashby of John Bray cautions: ‘Buyers simply can’t imagine the space without the mess. Switched-on buyers will also notice lack of storage space. In compact properties where hidden space can’t be created, this is a big negative.’

It’s not just space. Some agents say buyers who see a messy home believe it’s an indication that the sellers may not have been organised or bothered to maintain the property in peak condition.

Smelly homes

‘Buyers use all their senses and smelly houses are a hard sell,’ says Rachel Johnston of Stacks Property Search. ‘Some are an easy fix – for instance niffy teenage bedrooms and bathrooms, or pet and cooking odours, but they can still lead to bad impressions. But other smells are more damaging when it comes to selling; proximity to pungent farms, or an underlying smell of damp.’

One London agency, Petty Son & Prestwich, even recommends avoiding strong ‘homely’ odours such as percolating coffee or fresh bread which can distract buyers on a viewing. Instead it suggests subtle citrus, pine, jasmine or cinnamon.

Problems next door

If there are disputes with neighbours over noise or boundaries, these should be declared on a Property Information Form when you sell – and there are legal risks if you fail to do so, but the problem returns after the new owner moves in.

It’s not just the folks next door who can be a turn-off. ‘Close proximity of electricity pylons is a cause of concern for buyers. Although walking distance to local schools is usually a positive, if the property is adjacent to a school then traffic and parking issues can be off-putting,’ according to Scott Caudwell of Leaders Romans Group.

Unfinished jobs

Buyers dislike poorly-built extensions, unsympathetic alterations, awkwardly-shaped rooms,’ says Michael Zucker of estate agency Jeremy Leaf & Co. And the boom in home working means fewer people want the disruption of builders coming in to make big changes or put right botched work commissioned in the past by the seller.

Rupert Stephenson of the Black Brick Buying Agency adds: ‘The cost of building works has sky-rocketed recently and buyers want property which is immaculate or is a complete wreck – but wrecks are eye-wateringly expensive to put right these days, so these have to be dirt cheap to attract any interest.’

A pushy seller

Leave the sales pitch to the agent selling your home – that’s what you pay them for. A property professional will also get valuable feedback from viewers who would be afraid to tell an owner directly, while teasing out information about the buyer such as whether they are ‘ready to go’ or simply looking at properties out of curiosity.

Nick Ferrier of the Jackson-Stops agency says: ‘Having the seller shadow the agent during viewings can make potential buyers feel uncomfortable and unrelaxed. When selling a house, it’s all about first impressions – you’re selling a lifestyle. A buyer needs to imagine themselves there, not feel they are in someone else’s home.’

What buyers love

Original features

‘Original, well cared for character features are a must,’ says Emma Capon of the Fine & Country estate agency. Or – in the words of Karen Hedges of the John Payne agency in Greenwich: ‘Absolutely anything original, even if it’s falling down.’ Original beams are hugely sought-after, as are reclaimed wooden floors.

Open fires

‘An open fire is essential in a period house,’ says Clare Coode, regional director of Stacks Property Search agency. ‘I saw a beautiful country house that took four years to sell, chiefly because there was no fireplace in any reception room. A period house without a fireplace is like a summer’s day without sunshine.’

A downstairs loo

‘It’s something buyers don’t think about until it’s missing – and then it can end up being a deal-breaker,” explains Sarah Cull of Strutt & Parker, who believes they’re essential for modern families or anyone who enjoys entertaining. ‘Older period homes don’t always have the space, but if there’s potential to add one in, it’s always worth the investment.’

Big windows

‘Light sells,’ according to Clare Coode. ‘Big windows with a view are always a winner, as are window seats, conservatories and roof lights.’

A recent survey by the company Rooflights found that 84 per cent of home buyers valued the amount of natural light in a property as the most important factor in their search.

Dedicated home office

Government figures show 41 per cent of UK employees work some or all of the week from home – so sellers should make this part of their offer to buyers. ‘Carving out a dedicated space for home working – even just on a landing, or a nook off another room – makes houses more versatile for those with a hybrid working pattern,’ says Amy Reynolds of Richmond agency Antony Roberts.

Gardens

‘An oasis of calm where buyers can imagine escaping from hectic daily life is highly prized by buyers of everything from small cottages to town houses to large manors. Big isn’t necessarily beautiful; more important is aspect combined with clever landscaping and planting,’ explains Ms Ashby.

But remember it’s horses for courses. A property that’s likely to sell to an investor as a buy to let, or to someone wanting a holiday home, will be more attractive if the garden is low maintenance. For a family house, especially a larger one, a substantial garden would be a dream for green-fingered buyers.

Space for the car

Whether it’s a garage, fancy driveway or an old-school carport, this is a must-have for many buyers, especially if they have or want an electric vehicle requiring charging.

And in some areas, ‘it’s also due to all the flashy Range Rovers being stolen’, admits Robert Keeble of Surrey agency Langford Russell.

A great kitchen

‘We’ve become a nation of foodies – much more than we used to be – so buyers love a gorgeous kitchen,’ says Richard Freshwater of Cheffins estate agency.

He adds: ‘A beautifully crafted kitchen, whether it’s traditional with a charming Aga, or with contemporary finishes, is always appreciated. And people just love a beautifully organised pantry, with neatly lined up condiments and homemade jams.’

A third of estate agents polled by Propertymark, the agents’ own trade body, suggested that a quality kitchen was the most significant factor in swaying prospective buyers in favour of putting in an offer.

Energy efficiency

This is measured by the rating on the Energy Performance Certificate that’s displayed when your home goes on sale. A is the best, G the worst.

Ed Jephson of Stacks Property Search says: ‘When EPCs were first introduced, they felt like just another box to tick with little real value. However, as awareness around energy efficiency, environmental impact and rising energy costs grew, ratings have become a key consideration for buyers.

‘A bad EPC can be a big turn-off for buyers, especially those who aren’t planning any renovations. A bad EPC on a property that requires modernisation is something that may be tolerated; but on a property that is beautifully finished and ready to move into, it’s a big headache as retrofitting is costly.’

Revealed: The eight most unwelcoming places to buy a second home in the UK – plus the eight villages where you can buy a stunning property AND be embraced by the locals

By Fred Redwood

Second homes have never been so popular. Before lockdown, just 3 per cent of Britons had a retreat in the countryside or the coast – somewhere to recharge the batteries.

Since then, a rush of successful city-dwellers have sought a spare pied a terre. Parts of Cornwall, where one in ten properties is a second home, are full to bursting over the summer months, as is the Lake District and yachting hotspots in Devon and Dorset.

It’s meant big business for celebrity chefs, bar owners and fashionable clothes chains. However, not everyone is delighted at having half of London and the Home Counties arrive as part-time neighbours. Locals blame the incomers for escalating property prices. The residents of harbour towns often get squeezed out to live on the outskirts. And young people who work all year round are unable to get on the housing ladder.

Legislation is going through in an attempt to claw back this situation. Second homeowners in England could face paying twice the amount of council tax from April 2025, while in Wales (as of April 2023) the maximum level at which local authorities can set council tax premiums for second homes has already increased to 300 per cent. Whether these increases will have the desired effect – to bring more first-time buyer homes to the market – is another matter. Critics maintain that these charges are mere ‘peanuts’ to the wealthy second homeowners.

We’ve spoken with locals, estate agents, second homeowners and councillors to reveal the UK’s most welcoming and unwelcoming towns and villages.

Dartmouth and Newton Ferrers, Devon

Second homeowners are less than popular in the Devon yachting Mecca of Salcombe. Some 57 per cent of the properties here are second homes and the locals complain when the wealthy incomers build enormous mega mansions, ruining their view of the harbour. However, just along the coast it is a different story.

‘The people of Dartmouth, being a naval base, are used to newcomers and the locals are very welcoming,’ says Rupert Stephenson of Black Brick, a property search agency. ‘Newton Ferrers on the estuary of the River Yealm has two good pubs and a post office. It is a community of incomers and everyone gets along extremely well.’ As in all the South Hams district, second homeowners pay double council tax.

Going green: how a historic communal garden can add more than 40% to the value of your property

By Graham Norwood

London’s garden squares are legendary. 

No other city in the world has quite so many — and they never cease to astonish tourists, particularly Americans, who go all wobbly at the knees if they ever get to visit them.

English Heritage says there are 600 garden squares in the capital, mostly in Kensington & Chelsea and Westminster, though there are others in less affluent areas such as Lambeth and Hackney. 

Green space: Sussex Square is part of the Kemp Town Enclosures in Brighton

 

But beautiful communal gardens exist all around the country — and they come into their own at this time of year.

Many of the best-known gardens (and not only those in London) are surrounded by period buildings, typically Georgian and Victorian properties built when relatively low-density housing and leafy open spaces were part and parcel of urban living.

Buildings were often constructed in crescents, terraces and squares, but inevitably not every home could have a southerly aspect — so a communal area gave residents a chance to enjoy the sun. 

In Bristol, for example, Georgian terraces at Clifton Village have communal gardens located in between them and it’s the same in Edinburgh, where several garden squares and communal gardens are privately run, and securely gated.

Keys can be bought by residents for about £100 a year.

In Brighton, the Kemp Town Enclosures provide six acres of landscaped gardens with an extra perk — a private tunnel under the main road leading straight on to the beach. 

Sussex Square forms part of the Enclosures, where a three-bedroom flat is listed at £595,000 with Winkworth.

‘Most of the grand houses around it are now converted into apartments and they sell for at least 15 per cent more than other similar properties nearby,’ according to Alexandra Hearn, from estate agency Mishon Mackay.

It’s a similar story in Cambridge, though many of its green spaces are owned by the university, with passes available for local residents to buy.

Terrace life: You have a private terrace and courtyard garden as well as access to communal gardens with this four-bedroom flat in Clifton Village
 

‘The city’s densely packed in the centre, so developments with a private communal green space are rare,’ says Oliver Rivers, in the local branch of agency Strutt & Parker. 

‘Buyers see them as a huge benefit.’

In Bath, there are several communal gardens like the one in St James’s Square, close to the famous Royal Crescent.

‘While five-storey Georgian townhouses have their own city gardens, there’s no doubt the central garden square is a particular draw to buyers,’ says David Mackenzie, of Carter Jonas.

Then there are London’s communal gardens with addresses such as Eaton Square, Chester Square, Cadogan Square and Belgrave Square — all among the most sought after and expensive addresses in the capital.

One reason why so many communal gardens still exist here, despite the pressure to build, is that more than 400 are protected in the London Squares Preservation Act of 1931, which prevented the capital going the same way as other town and city centres when planners championed tower blocks in the Sixties.

Coastal abode: This five-bedroom Regency house comes with three self-contained apartments. All have sea views and access to private gardens

 

Now some modern house builders are trying to create 21st-century versions.

The results are mixed. Some high-end developments, such as Wycombe Square in London’s Holland Park and the new Chelsea Barracks scheme, have spacious communal gardens.

Other new developments are less tempting — for example, Debbie Foenander from the Mullucks Wells estate agency in the Home Counties knows of one commuter town where modern flats directly open on to communal gardens.

‘There would be nothing to stop another owner putting their deckchair immediately outside your door,’ she cautions.

Unsurprisingly, modern homes with communal gardens tend not to have the kudos of traditional homes.

‘New developments can never really replace the prestigious garden squares, which will always command a premium for their exclusivity,’ says Camilla Dell, of Black Brick.

However, even period properties with communal gardens can have their downsides.

First, the service charge to maintain the gardens is typically in the control of the freeholder or the firm responsible for the open space, so could, in theory, rise considerably.

Second, there can be strict rules over usage — many do not allow barbecues, for example, or have to be closed relatively early even on summer evenings.

A few forbid alcohol, while most are overlooked. 

Some are let out for private parties, too, which can be irritating.

Such quibbles have done nothing to deter our enthusiasm. 

Even in today’s sticky housing market, local agents insist sales of homes with communal gardens are strong.

Get a grip on prices: Fewer housing indices will make for more realistic valuations – at last

By Graham Norwood

A Government shake-up of house price indices may make it easier for buyers and sellers to read the market and know what their house is worth.

Buyers often use indices to judge how much a home will cost them in a particular area and how much the price may change in the future. Sellers use them to judge whether their homes are worth more or less than when they bought them.

The problem is that the six highest profile indices often produce conflicting figures. For example one index released last week says a home costs an average of £232,241 while another, produced a few days earlier, puts it at just £167,425.

Two of the six indices are from the Government – the Land Registry and the Department of Communities and Local Government – plus two from lenders Halifax and Nationwide, and the others from data companies Hometrack and Rightmove.

Even the two Government indices vary. The new DCLG one says a typical home is £210,775 which is up 9.9 per cent over the past 12 months. The Land Registry index says a typical home costs £166,072 and is 8.4 per cent higher than a year ago.

There are several reasons for this bewildering picture.

Firstly, the indices are measured at different stages of the housing cycle. Some look at asking prices when the seller instructs an estate agent; others look at prices actually paid for homes by the purchasers, which may be 10 to 20 per cent lower.

Secondly, the indices have different sources. Hometrack’s data comes from estate agents, whereas Halifax’s statistics are based on the mortgages it gives to buyers.

Some indices include all homes whereas others exclude unusual properties.

Thirdly some indices apply to the UK while others apply to just England and Wales.

‘The general public put great store by indices but they often do more harm than good,’ says Melanie Bien, a director of broker Private Finance. ‘Panic can be generated by a single monthly fall in prices, even though another index may record a rise at the same time.’

There are at least 15 other more specialist house price indices covering niche sectors.

Top-end estate agents produce data about ‘prime’ London homes based on a tiny number of properties. Other firms simply add up the different indices and issue a rough ‘poll of polls’ – these gain widespread publicity but are regarded as very inaccurate because they ignore the differences in each individual index.

Many of these indices are then released by public relations spin doctors. The result? Buyers and sellers are confused.

‘Some big estate agencies produce figures and forecasts but these need to be read with a pinch of salt as they’re focused on what’s happening in their own front offices rather than the entire market,’ says Camilla Dell, a London buying agent.

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There’s still time to be in your new home by Christmas, just follow our ten golden rules

By Graham Norwood

Most people want the dust to have settled on their new home by Christmas. And this year there’s even more incentive to complete a move before December 25.

The Government’s move to scrap the 1per cent stamp duty on homes between £125,000 and £175,000, introduced to boost the market last September, ends on New Year’s Eve.

With average house moves taking 12 weeks and with only six weeks to go before Christmas, time is of the essence. If you want to avoid stamp duty, or are buying in a higher price range and wish to complete in time for the turkey, what should you do now?

EXPERTS SAY THERE ARE TEN GOLDEN RULES:

1. INSTRUCT MULTIPLE AGENTS TO SELL

‘Don’t be tempted by a cheap fee from one agent,’ says Ed Mead, of London agency Douglas & Gordon. ‘What’s the point of saving £2,000 if the property isn’t selling?

Pay a multi-agency fee to have two or three agents competing. They’ll be more urgent.’

2. PRICE REALISTICALLY

‘A too-ambitious asking price will put buyers off,’ says Camilla Dell, of Black Brick buying advisers. ‘Put it on at a competitive price. You may get buyers competing.’

3. ORGANISE THE PAPERWORK

‘Get your Home Information Pack (HIP) ordered several weeks before you want to launch. It’s now a legal requirement,’ says John Keeble, of John D Wood estate agency.

A HIP consists of a questionnaire about fixtures and fittings being left behind, plus an Energy Performance Certificate based on an inspection b energy efficiency experts, as well as title deeds and search information from the council and utilities.

4. APPOINT A SOLICITOR QUICKLY

‘This is essential; a slow solicitor will frustrate the buyer and seller,’ says Jo Eccles, of relocation firm Sourcing Property. ‘This could cost you your purchaser or new home, so don’t scrimp on legal fees.’

5. MAKE OVER YOUR HOME

London house doctor firm The Final Touch gives the example of a flat valued at £450,000 that had no buyer. It recently sold for £512,000 after being spruced up at a cost of £2,500

The House Hunter

CAMILLA DELL NARROWLY FAILED TO MAKE THE APPRENTICE, NOW SHE’S A HIGH-FLYING PROPERTY MATCHMAKER

Millions of us are glued each week to The Apprentice to see who will incur the wrath of Sir Alan.

For Camilla Dell, who runs London’s largest independent property-finding agency, Black Brick Property Solutions, watching the show is a reminder of why she started her own business.

Her company, which has a turnover of £2 million, was Camilla’s brainchild, and it was her involvement with former Amstrad boss Sir Alan Sugar’s reality TV show which inspired her to set it up.

In 2004, when she was a 26-year-old working for hard-selling estate agent Foxtons, she auditioned to appear on the second series.

After four years of working through the property boom years in the ‘highly charged environment’ of that agency, the ambitious negotiator was ready for a new challenge.

After excelling at the ‘shattering yet exhilarating’ three-week selection process, she made it into the last 50 candidates of 75,000 applicants and was put on standby to be one of the female contestants.

‘As it was, I never got the phone call to appear on the show, but the experience gave me the impetus to think about how much more I could do with my life,’ Camilla says.

Her flirtation with The Apprentice also increased her worth in her colleagues’ eyes and, within a month, she had been promoted.

‘Jon Hunt (the then-boss of Foxtons) loved the programme, so whenever I came onto the sales floor he would single me out,’ says Dell.

Hunt had set up the Foxtons empire in a former Italian restaurant in Notting Hill, West London, in 1981.

He sold its 40 branches for £370million at the peak of the property market in 2007.

‘He was an entrepreneurial figure who captured my imagination,’ says Dell.

But after another year at Foxtons, Camilla was head-hunted by rival estate agency Knight Frank.

Working for its property-finding division, sourcing homes for high-net-worth individuals, she soon realised it was her personal qualities customers were responding to, rather than what the company was offering.

Camilla says: ‘I decided there was room for an independent property finding consultancy in London, and set up my business with a partner in January 2007.’

From the loft of her home in North London, she turned round £1 million in the first year, a figure she doubled in 2008.

Property-finding agents typically charge customers – who, in Black Brick’s case, are looking for a family home or an investment property in London and the South- East – a £2,000 to £3,000 retainer fee, then a 2 to 3 per cent ‘success’ fee if a deal is brokered.

They have grown in popularity because they are not beholden to any agency, and so are truly acting for the buyer.

Earlier this year, Camilla moved to an office in Bruton Place, Mayfair, Central London, and has a staff of six, five of whom are women.

So do women make better property-finding agents? ‘Yes, they are much better at empathising with both sides in a situation, whether buyer and seller at the negotiating table, or husband and wife deciding on the ideal home,’ she says.

‘Buying a home is an emotional transaction.’

The other qualities Camilla thinks are essential in a buying consultant are patience, good contacts, market knowledge, a head for numbers, attention to detail and tenacity.

They are just the sort of qualities that would no doubt have impressed Sir Alan had she made it onto The Apprentice.

Camilla’s verdict on the London market

  • Prices are down 20-30 per cent from the peak of the market, which was March 2008 in London.
  • But has it reached the bottom? Not necessarily, though the past two months have seen a big increase in activity – and the reappearance of gazumping.
  • Who’s buying? Foreign buyers for whom the weak pound is attractive; plus buy-to-letters: yields of 4 per cent a year make buying a property to rent out more profitable than putting your money in a bank.
  • Properties selling best are those in prime areas – Kensington, Chelsea, Mayfair, Notting Hill, St John’s Wood – especially those located near to the parks.
  • Those that aren’t selling are those stuck at last year’s prices. Be realistic: pricing is key!

… And prospects elsewhere?

  • Green shoots? Hometrack’s latest Monthly National Housing Survey, reports a 19 per cent increase in the number of sales agreed in March – up from MINUS5 per cent in January. The biggest regional increase was in East Anglia, followed by the South-East.
  • How do you ascertain if property is valued accurately? James Greenwood, of Stacks, the nationwide property-finding agency, suggests subtracting 35 per cent from a comparable property’s value in 2007. ‘There’s a lot of game-playing going on, so abandon your innate Britishness and bargain like you are shopping in a Turkish bazaar,’ he says.
  • But where are the hotspots? email4property.co.uk – the UK’s largest network of local estate agent websites – reports most interest being shown in Nottingham, followed by Liverpool, Bristol, Cardiff and Birmingham. Affordability is key in these areas. In Nottingham, the average price is £91,336.

Prices for the super-rich are still soaring upwards

By Liz Rowlinson

NEVER has there been so much speculation about the construction of a block of flats as that surrounding One Hyde Park, London’s most expensive apartment complex.

And as the block rises opposite Harvey Nichols in Knightsbridge, it is impossible not to imagine what a flat costing £80 million to £100 million will look like.

What we do know is that the penthouses are designed by Richard Rogers and will come with top range security (panic rooms and bulletproof windows), high-class services (supplied by the Mandarin Oriental hotel) as well as a prime location.

It’s easy to wonder — in the week when Nationwide Building Society announced that house prices are falling at the fastest rate since the last recession — how the troubled market is affecting such a lavish project, especially when new-build flats have been the hardest hit.

Well, One Hyde Park — where 40 of the 80 units have been sold, with average prices of more than £20 million — presents itself as proof that the top of the market is still going strong.

The international moneyed oligarchy (a third of buyers come from Russia, a quarter from the Middle East) have raised London’s status as a capital of the super-rich, with the most billionaires in Europe.

Looking at the wider super-prime London market, latest figures released by Savills show that while properties in the £5million bracket have ‘flattened’, those worth £10million plus have actually increased by 1.2 per cent.

‘We’ve had 16 sales

in June alone from £5.3 million to £70 million,’ says Jonathan Hewlett, director of Savills, which is selling fourbed apartments at a prestigious new development, 21 Chesham Place in Belgravia, for £15.9 miliion to £40 million.

Other addresses attracting interest from the super-rich include The Knightsbridge (a luxury development near One Hyde Park) Lennox Gardens and Cadogan Square.

Last month, Palace Green, a fourstorey house in Kensington, sold for a world-record-breaking £117 million to steel magnate Lakshmi Mittal. Britain’s richest man — worth a reported £50 billion — is unlikely to be affected by interest rates on highstreet mortgages, neither will the 20 people looking for properties of between £20 million to £100 million on the books of Aylesford, the company who handled the Mittal sale. ‘The demographics of London haven’t changed in the past six months. There wasn’t a big exodus of non-doms, so there are still no sellers and too many buyers,’ says Aylesford’s chairman, Andrew Langton.

His comments are echoed by Camilla Dell of Black Brick, a property-finding agency whose average sale has shot up from £2 million to £6 million this year.

‘Prices are being driven up in the £10million-plus bracket because of the shortage but also because sellers at that level never need to sell if they don’t get the right price,’ she says.

Outside London, the market is equally active and — according to Mark Lawson of The Buying Solution, which sources estates for the super-rich — there can be a feeding frenzy for the right property.

‘A country estate — a good-looking Georgian country house, in plenty of countryside, near a nice village — is a stronger aspiration for the selfmade man than it was five years ago,’ he says.

Perfect for such a man might be an 11-bed ‘Palladian style’ mansion near Stratford upon Avon, on sale for almost £11million through Quintessentially Estates. This comes with 35 acres, four-car garage, ballroom and ‘Versace-inspired’ decor.

Spring into Action – Tips for Experienced Buyers

First, take advantage of today’s buyer’s market, which may allow you time to view and revisit all properties in your price range.

“There are more properties on sale today than this time last year. Therefore buyers can affortd to take longer and be more choosy, ” says Camilla Dell of Black Brick, a professional buying agency.

Second, do your research before making an offer. “Look at the purchase price and then divide this by the size of property to give a “price per square foot”. We look at how the price per square foot compares to similar properties sold in the past six months in that street or block’, says Ms Dell.

“This enables us to assess whether the property is being marketed at market value, bwlow market value or is grossly overpriced. The Land Registry (landreg.gov.uk) allows you to search for details of sales by postcode for a fee. It’s a small price to pay to avoid making a costly mistake and over-paying.’

Third, get your mortgage and a survey arranged, as some sellers will opt for the buyer who is ready to go.

Don’t be too influenced by the new Home Information Pack, which applies to every property on sale. It doesn’t contain the most important item the purchaser needs to make a good decision – the survey. You, the buyer, still need to commission that.