Regional Property Market Update Autumn 2020: Southern

It is estimated nearly two million people own buy-to-let property across the UK (Resolution Foundation 2019), with property being regarded as a ‘safe-haven’ asset. At 4.9% and 4.7% respectively, the gross yields on residential property across the South East and South West are attractive.

Southampton and Portsmouth are the current top performers in the Southern area, offering yields of 5.9% and 5.8% respectively.

Average gross yields on residential property are attractive, with positive rental and house price growth

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Strongest housing markets across the Southern region

Property prices across the South East were 2.1% higher year-on-year, across the South West 4.3% higher, as the housing market reopened in June. Test Valley is currently the strongest performer in the area. Activity across the UK has been brisk. Nationally the average time taken to sell a property fell to 53 days this August, down from 62 days in August 2019. Sensible pricing remains crucial, as correctly priced properties are nearly twice as likely to be sold ‘subject to contract’ within four months of listing than those that have had their asking price reduced. Homes in the South East are selling, on average, 12 days quicker than a year ago.

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Sales Manager at McFarlane Sales & Lettings, Tim Stanley, comments on the Swindon and North Wiltshire region:

“The autumn market thus far is staggeringly strong with huge in-roads into rural properties and the search of. The Covid-19 pandemic is having a huge effect on the changing way of modern living; this is magnified with working from home being the new norm.

“The criteria for discerning purchasers must have garages for office conversions and gardens space for timber offices and shed conversions. Broadband speed and local schooling also remain high on the agenda. Overall, there is a need for more stock.”

Properties for sale in the Southern Region

Cowes, Isle of Wight, 6 bedrooms

Green Bank is a spacious and attractive six-bedroom Victorian house occupying a good-sized corner plot. The charming period home offers generous rooms with many period features throughout. The property enjoys enclosed gardens with a beautiful pink blossom tree and a double garage with driveway.

Sherston, Wiltshire, 3 bedrooms

This pretty terraced Cotswold stone cottage dates back to the 18th century and is conveniently located just a short walk from the High Street of the highly sought-after village of Sherston with a range of amenities available. The property has a wealth of character and charm throughout with a various original features including exposed beams, flagstone flooring and sash windows.

Bournemouth, Dorset, 4 bedrooms

This immaculate four-bedroom detached character home has been restored and improved by the current owners to a glorious finish, seamlessly blending contemporary design with character features. The unique family home boasts a magnificent kitchen, breakfast and family room, which has been beautifully fitted with a feature breakfast bar and integrated appliances and overlooks the gardens with bi-fold doors.