Branksome Park, Canford Cliffs & Coastal Poole Property Market Review

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Our latest property marketing insights are featured in the Summer issue of Pines and Chines magazine, the local Residents Association publication http://www.branksomepark.com

Local Property – hit by Stamp Duty (SDLT) ? – and what about apartments supply ?

Land Registry data for 2015 was not quite complete when we compiled this data on sales history across the local area. We think the 2015 figures below may have been be understated by about 8-10% (delay in registration of new title) but, even making a due allowance for that, what is clear is that, locally – mainly within BH13 and BH14 sub-codes 8 and parts of 9 – the market above £1.5 million – prime property -is ‘off’ by a substantial margin but that the market from £500,000 up to £1.5m is still healthy.

Price Category 2015 2014
BH13, BH14 8/9 No. of sales Value of Sales No. of sales Value of Sales
£ million £ million
> £2 million 18 £61.85 27 £88.38
> £1.5 million + 22 £37.99 29 £51.72
> £1.0 million + 54 £62.96 43 £52.39
> £750,000+ 72 £62.68 88 £74.07
> £500,000+ 153 £93.37 164 £100.93
> £200,000+ 337 £109.97 397 £129.84
TOTAL 656 £428.77 748

 

 £497.33

 

Increased rates of SDLT have applied for around a year now (leave aside the 2015 Autumn Statement – 3% premium for second home and buy-to-let investments – being introduced from April 2016). The implications are clearer, confirming the story of declining top end sales in London. There are still sales at the upper end. Indeed, 5 properties at prices in excess of £4 million during the second half of 2015, 4 of these paying SDLT of more than £500,000 – on top and out of taxed income (one other was a Company purchase, with lower SDLT).

So, let’s turn to apartments. It’s hard to believe but there are currently over 500 apartments in the planning pipeline (212 x 3 bed; 263 x 2 bed, plus 14 x 4 beds and 35 x 1 bed). While some of these are still only applications which may or may not achieve approval, over 400 units are already approved; and 200 of those are either completed but not yet sold or are currently under construction. There is, I suspect, a potential over-supply looming, despite the fact that not all the potential supply will be delivered. Bank lending policies will see to that.

Interestingly, while some of these new apartments are being designed specifically for the retirement market (Woodlands and Compton Acres in Canford Cliffs; The Landing in Lilliput, for example), there are several instances where existing nursing homes are being take out of commission and re-presented as new apartments, throughout the local area. The overall age demographics of the area may not currently be under threat. However, the cost of retiring here may be facing a sharp upward adjustment in prices.

The area continues to attract buyers and developers – for apartments – retirement and active alike; for houses – super homes and family homes; for diverse locations – coastal, village and sylvan. The attractions are still vital – seaside, beaches, harbour, sailing, golf, the adjacent countryside etc – and enduring. But both the Chancellor and developers, we all need to retain that lifestyle dynamic we all crave in perspective. The outcome of the forthcoming Brexit vote will deliver yet more impact on the local area without doubt.

Please contact Berkeleys today for more local market insights.

Poole Harbour Boat Show – 9/10 May 2015

This weekend, the breath-taking Poole Quay Boat Haven is hosting the inaugural Poole Harbour Boat Show. Poole is an incredible hive of activity, especially during the summer months. This hive of activity as well as the rich and varied boating business locally have attracted the boat show to the area. The present boating community makes this location perfect for the weekend long event, with stunning views of Brownsea Island, and in close proximity to lively cafes, bars and restaurants.

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The maritime showcase, organised by Poole Harbour Commissioners (PHP), is free to the public and is set to feature a range of activities for all to enjoy. The event commences at 10am Saturday morning.  You can spend both Saturday and Sunday leisurely browsing over 100 stands laid on by exhibitors and charities including clothing, watersports hire and marine electronics.

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Tall Ships, Stavros and Pelican will be berthed on Town Quay and will be open to the public creating the main highlight of the weekend for families, children and boating enthusiasts. The RNLI will be present across the weekend and will be demonstrating rescue techniques between 11.15am and 1.15pm on both the Saturday and Sunday. Visitors will be treated to live music and competitions throughout the weekend. Saturday’s proceedings will close with a spectacular firework display at 10pm. Sunday will see Paralympic Gold Medallist, Helena Lucas MBE make a special guest appearance and will be hosting a meet and greet from 11am to 12pm.

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Mr Lacey, chair of the PHP, said: “European Maritime Day in 2017 gives Poole the chance to put the town’s marine spirit in the spotlight. “We hope the boat show will become an integral part of that high profile event and we welcome everyone to come and sample what is going to become a flagship event for Poole.”

Full details of the Poole Harbour Boat Show and a complete list of events can be found here: http://www.pooleharbourboatshow.co.uk/#!whats-on/c11nz
Follow @PooleBoatShow on Twitter for updates.

Contemporary Luxury Home For Sale In Branksome Park, Poole, Dorset.

Berkeleys, Canford Cliffs office is delighted to offer for sale a striking 1930s art deco inspired home in Branksome Park, Poole, Dorset. ‘Dunes,’ – so named for its close proximity to the beaches of Branksome Chine – exudes the popular design principles of early modernist architecture with its linear style, white fascias and top floor studio with sun terrace.

Art Deco House for Sale in Poole Dorset

This home very much embraces the best of a coastal lifestyle – feel the sand between your toes on the Blue Flag beaches, go fishing, go sailing, or for the more adventurous – try your hand at the many watersports on offer along the beautiful coast of Poole Bay and Poole Harbour.

Afterwards, head home to a hidden oasis of calm, relax with sundowners on the top floor terrace, looking across the treetops of Branksome Park towards the Purbecks.  Entertain family and friends in the generous open plan living area, and open the bifold doors and spill out onto the balcony overlooking the large south facing garden.  As the twilight appears, the garden lights illuminate the tropical planting, and the sea breeze whispers through the trees, echoed by the distant sound of the sea.

Branksome Chine Blue Flag Beaches, Poole, Dorset

The sumptuous master bedroom suite offers comfort and space, and there is ample space for family or visiting guests to stay – there are 4 further bedrooms all with en-suites.  

As the seasons change, the house retains a sense of summer, remaining bright and light with its cream floors effectively warmed by the underfloor heating. On cooler nights ignite the living flame log fire which flickers gently in the lounge.

‘Dunes’ has over 3,860 sq. ft of accommodation.  It is immaculately presented throughout including the latest technology, with a cinema room and high spec audio-visual system installed.  The double garage with electric doors (reached via the driveway fronted by electric gates) ensures security for those times you have to travel away.
Branksome Chine, Poole, Dorset

Located in Branksome Park, Poole, an area synonymous with tree-lined avenues and leafy chines leading down to the sea, ‘Dunes’ offers excellent transport links by rail (London about 1hr 45m) with Bournemouth and Southampton Airports within easy reach. 

‘Dunes’ is currently offered for sale for £1,575,000.
Contact Berkeleys on 01202 708383 to arrange a viewing.

BBC2’s The Great Interior Design Challenge Comes To Canford Cliffs, Poole, Dorset

In the new second series of BBC2’s ‘The Great Interior Design Challenge,’ Tom Dyckhoff chose Canford Cliffs, Poole, Dorset and the Chine’s original 1920s beach huts for three would-be designer’s next interior challenge.

During the programme, the architectural historian shared some of Poole’s’ treasured turn of the century local architecture and character. And, it is exactly this wonderful architectural legacy that draws so many home buyers to the area today from across England and beyond.  See the full episode on BBC iplayer here: http://bbc.in/1yIpfqy

Canford Cliffs Show 29.10.14By way of example, Berkeleys, Canford Cliffs office currently has listed for sale a magnificent original early 1900s character house. Built in 1911, this beautifully restored home has been fully refurbished throughout and retains many original features. ‘Heatherside’ occupies an enviable position in one of Poole’s most desirable, quiet cul-de-sacs near to Canford Cliffs Village.

Character House in Poole Dorset

The house retains many wonderful original features including the Arts and Crafts influenced shape, magnificent double height stained glass windows in the hall, the porch, the gable roof and the tall red brick chimney stack.

Featuring 5/6 bedrooms, 3 bathrooms and 3 reception rooms, the house is beautifully decorated throughout embracing colours that harmonise with the natural verdant landscape outside. The light fresh tones of the lounge complement the tasteful central fireplace and wood-burner. The open plan orangery/dining area looks out onto wide gardens with mature pine trees so typical of the area. The bespoke, solid oak, hand-painted kitchen has a welcoming country feel with an oak topped central island and state of the art appliances. Befitting typical modern lifestyles today, the top floor of this charming house also features a games room, perfect for older children planning to live at home a little longer than expected.

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Kitchen

The gardens feature a sandstone graduated terrace and an outdoor Vita 8 person hot tub. Beyond, at the top of Clifton Road there is a stunning viewpoint overlooking the harbour and from here there is a footpath providing a lovely wooded walk down to the renowned Parkstone Golf Course. The shores of Poole Harbour and the award winning beach at Sandbanks are within two miles as is the chain ferry at Sandbanks leading to the Isle of Purbeck and Jurassic Coast.

‘Heatherside’ is offered for sale at a guide price of £1,295,000. To arrange a viewing with one of our sales team, please call Berkeleys on 01202 708383.

How Will Mansion Tax Affect Home Owners In Coastal Poole, BH13?

Currently a major concern across the property sector, the pending threat of ‘mansion tax’ on UK home owners with properties valued at above £2million is causing much concern.

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Will it affect Poole properties for sale now or in the future? Is the sun setting on the market for properties in this price band?

Looking at Berkeleys sold house price data here there have been 29 sales of properties over £2 million in BH13 and BH14 Lilliput area over the last two years. All sales have been houses, except one. An apartment sold during this period for £3.76million on Sandbanks Road. There are 86 properties currently for sale on rightmove in BH13/BH14 Lilliput areas valued at £2million +. There are 426+ for sale across all price bands. We should also mention land and plots, so important to this coastal spot. 12 plots above the £2million price point have also been sold.

Mansion tax will clearly have an affect on a relatively small percentage – maybe 5% – of local residents in this area because many residents are retired, living in large homes, yet living off low incomes. The key question is how will they find the resources to settle these new tax bills which could significant and annual charges. Labour is indicating that retirees may be able to defer their bills until the home owner dies. A cheerful prospect for people enjoying their later years, planning to help their families and grandchildren, not pay more tax.

For home owners with homes valued at close to £2 million or indeed above, the question is what to do now, if you are thinking of selling. The threat of mansion tax has had a major impact on the London market, and agents are reporting a slow down in sales in this sector. The £2million+ market has slowed in Poole too, but remember many home buyers in BH13 are buying ‘forever’ homes or relocating – moving out of London – financing their purchases in varied ways and continuing with their plans to move on regardless. They are less likely to be international buyers. We do not see this trend ending any time soon.

How does renting and letting feature in this scenario? We are actually seeing an upsurge in activity in this area currently, as home buyers choose to rent in the interim, whilst the picture is unclear. Owners of £2 million+ properties could choose to become landlords for the very same reason if they need an alternative option to selling in the interim.

The market for homes clearly valued under £2 million remains competitive and in our opinion will continue to be so this winter. This is the space to be in – the comfort zone – for the moment. There is no sign of the sun setting here.

If you would like to discuss the possible impact of mansion tax alongside your home buying or selling plans, get  in touch with our Berkeleys BH13 office today. 01202 708383.

South Coast Home Buyers Uncover The Charms Of Chines In England

It is the season for buying coastal and waterside homes and coastal Dorset has seen more of a wave than a ripple of buyer activity this year. Here is Poole, Dorset we have already been named one of the country’s key areas outside London affected by the housing bubble (Land Registry prices up 15-20% since 2009)

Much has been written about the beachfront homes of Sandbanks, Poole. However home buyers are less well versed in the hidden charms of the coastal chines of England.

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There are only three areas where you will find chines in England: Dorset, Devon and the Isle of Wight. The word chine is only used in the south of England and describes a steep-sided ravine or valley that leads down to the seafront. Not only are chines interesting for their geological history but they make highly desirable locations for holiday home buyers and family home buyers, as many are discovering today.
Dorset’s coastline has a host of chine’s spread between Bournemouth and Canford Cliffs, adjacent to Sandbanks in Poole, Dorset. The chines have created interesting walks along beautiful ravines, which often contain a stream flowing into the sea. They also harbour some wonderful clifftop homes delivering a contrasting combination of wooded landscape and sparkling seascape.

“We recently sold two beautiful homes overlooking Canford Cliffs Chine and Branksome Dene Chine,” explains Pippa Sole, Branch Partner at Berkeleys Poole, “Our buyers appreciated the dual coastal and wooded land/seascape that a chine creates as well as the healthy lifestyle benefits. Looking at average prices achieved for properties located on a chine, a price premium of 10-15% is not uncommon when factoring in a sea view with proximity to a chine,” Pippa explains, “the chines in Poole also command higher prices currently than the chines situated in either Bournemouth or Boscombe.”

These properties also make attractive rental investments. Gemma McGowan, Head of Lettings at Berkeleys notes, “We have recently rented some very attractive apartments on Alum Chine and Branksome Chine, notable for the speed at which they were snapped up. Savvy locals know that a chine based property is likely to be in close proximity to the beachfront or clifftop.”

Every chine is unique offering differing lifestyle benefits. Some chines are more secluded, others more family-friendly whilst one is designated a wildlife conservation area. When buying on a chine, by doing some research first, buyers can uncover truly wonderful properties that will fit their lifestyle today, be they families, second home buyers or young professionals with a passion for water sports.

Alumhurst Road 7

Property insights into Sandbanks, Canford Cliffs and Branksome Park, Poole, Dorset.

Berkeleys has just published the latest Spring property report for Sandbanks, Canford Cliffs and Branksome Park in Poole, Dorset.

Sales volumes (the total value of property sold – at prices greater than £200,000 in BH13 and BH14 only) in both Quarters 3 and 4 2013 were nearly 50% ahead of the same figures recorded for 2012, almost across the board – other than in Sandbanks, where volumes are down year on year.

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Some of the interesting trends in the local property market that Berkeleys have noted this year include:

  • At the top-end (Sandbanks, Branksome Park and Lilliput), development-led transactions are a feature of the market once more, as are the number of people downsizing from larger homes into “lateral” (i.e.apartment) living.
  • The family house market (£500,000 – £1.5 million) is also a strong contender in all areas, with a shortage of stock tending to push prices a little higher – or, at least, reinforce asking prices.
  • At the value-end of the market (£200,000-£500,000), activity is buoyant, especially in apartments throughout Branksome Park, Canford Cliffs and Lower Parkstone.

Chart: Property Sales Across The Poole Area June To December 2013 v. 2012 (Land Registry data)

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Of course values and activity levels vary amongst other things not just by area, but also by price band, by reference to age and condition of the property being sold and a host of other points. A similar range of disparity of values will also apply in other segments of the market. It’s vitally important to understand exactly where along that paradigm your property fits if you are thinking of selling.

Our recent analysis of trends suggests that the average time to achieve a sale on properties in BH13 and BH14 varies very considerably, by market segment – above £2 million, the average interval between initial marketing and an achieved sale is over 600 days (in 2013) – with some of those sales having taken over 4 years, testament both to vendor’s drive for a top price and – often, if not more often – to ineffective guidance from their agent.

Even in the £200,000 – £500,000 market, the interval is an average of 262 days (just over 8 months). However, it is noticeable how well-priced (i.e. accurately-priced) property tends to have a much shorter transaction cycle, particularly when one takes into account the length of time it can take for some deals to exchange and complete. Some of the better-priced deals are concluded within one week to a month.

There is a considerable body of evidence now available to suggest that, if a more realistic approach at the outset can be set, much shorter transaction timetables can be the result. If you are thinking of selling your home, it is often a false economy to over-price the property initially.

Read the full version of this marketing report published on our website today or call us for an in-depth discussion. t: 01202 708383.