Property Acquisitions are delighted to have been featured in today’s Sunday Times Home about how period homes are still very much in fashion. Our Director, Jennie Hancock is quoted, as she says period homes are still on the radar of buyers in West Sussex, but they’re now looking to improve their energy efficiency.

Read the full article here (paywall)

Our Founder, Jennie Hancock, was quoted in a Telegraph piece today which includes top tips from various property experts on how to haggle on price. I talk about a deal I recently did for a client where we had a lower offer accepted in a sealed bid situation, thanks to a letter that was presented to the sellers. We included that our buyer’s parents had lived in the next village and she wanted to return to her roots. The sellers remembered her parents and wanted our buyer to secure her dream.

Read the full article here (paywall)

I was recently interviewed by The Times about how buyers can protect themselves from poor sellers. I suggested a quick exchange and agreeing to a long completion to help give sellers enough time to find something else themselves, as this can help reduce the risk of a seller pulling out of a sale. Sellers can panic that they won’t have time to find a new property so pull out, but if they can get a quick exchange to secure the sale, then a delayed completion date of six to twelve months, this gives them extra time.

‘Rent backs’ are another good option to give sellers time to find the property they want. This is an agreement between the buyer and seller that allows the seller to continue to live in the house after completion in exchange for rental payments for a set period of time. However, it really only works when the buyers are mortgage free, because most residential mortgage providers would not agree to it.

Read the full article here (paywall)

Our Founder, Jennie Hancock, recently had a chat with the Daily Telegraph about the second homes market, following a report by one of Britain’s major property groups which revealed the purchase of holiday homes has dropped and more are coming up for sale. Jennie said she has definitely seen this happening too. Several of our London clients have sold their principal property in the capital and moved permanently to West Sussex, whereas it used to be quite common for people to buy a second home in the countryside with a “lock up and leave” approach in mind.

Read the full article here. (paywall)

We are delighted to spot our director, Jennie Hancock, in four prestigious magazines published by Conde Nast this month – House & Garden, Vogue, GQ and Tatler. The local housing market has turned from being price led to the ability to purchase, highlighting the importance of being a cash buyer when looking for a prime country house. The magazine explains how having a buying agent like Property Acquisitions on board is so important in the current housing market.

Buyer demand is still going strong in our part of West Sussex, so we thought we’d mention it to the Daily Telegraph to see if they would like to run a story around it… We are delighted to say that they loved the idea, and ran the piece this morning featuring our Director, Jennie Hancock!

Read the full piece here (paywall).

You can also read all of Jennie’s thoughts on her blog here.

Annexes are highly sought after at the moment, so much so that they can potentially add 10% to the value of a property. Our Director, Jennie Hancock, was asked by Sunday Times Home to provide a quote about their appeal and why, which was published today.

Jennie said:

“As you need to have suitable outside space of at least an acre for an annexe, you’re looking at houses priced around £1million plus in West Sussex. These tend to be in rural locations, although I have heard stories about locals in the city of Chichester itself who have converted their garages into an Air B&B. Interestingly, post Covid-19, buyers are looking out for redundant outbuildings they can turn into annexes themselves, rather than purchasing a house with one already there. This is because they recognise the added value they can bring to their home by doing it this way. An annexe that has been designed as a facility or somewhere to practice a hobby can add up to 10% onto the value. I know quite a few people who have built large working spaces outside as a result of the pandemic for example, but annexes are also popular now for parents to live in, as yoga/pilates studios, state of the art gyms or as a way of having additional accommodation you can rent out. The lettings market in Chichester is phenomenal, especially around the time of Goodwood events such as Festival of Speed and Glorious Goodwood in July, and Revival in September. One lady I know has transformed her shed into an Air B&B for this very reason, but West Sussex is also very popular for those needing accommodation for weddings or for short breaks away by the coast.”

Read the full Sunday Times piece here.

The Daily Telegraph asked our Director, Jennie Hancock, for comment about increased demand for buying agents in West Sussex, and the appeal of purchasing a country house off-market. We are delighted to see that some of her comments have been included, demonstrating Jennie’s expertise in the local property market. Here is the Q&A with the journalist:

Have you seen demand for your services increase in the past year?

I have noticed a surge in global traffic on my website over the last twelve months – up 1,368%. The top three nationalities are the UK (+1,471%), US (+60%) and China (+440%), with other top ten long-haul visitors including Singapore, Japan, India and Australia. Over 60% of enquiries I have received since the pandemic began are now from London buyers, with rural and waterside villages once sought after fifteen years ago high on the agenda once more, as the need to live close to work or a train station is replaced with the desire for amenities such as a good pub, village shop and for the coastal locations, access to the water. My local town clients are also seeking a more rural life to enjoy their retirement.

Why?

The pandemic has without a doubt reinforced the joys of living in a village. People are seeking village life offering beauty, peace, clean air, simplicity, charm, natural surroundings and close local communities to name a few. When we’ve been trapped in our homes, having access to stunning surroundings and beautiful walks around fields, woodlands and rivers has been a saving grace. It’s a completely different experience to living in a city or busy town. They may be a five-to-ten-minute drive further away from a main line railway station, but as more people are choosing to work from home now or only wish to travel into London once a week, they are seeking something slightly more rural. Gone are the days of being on a train at 6am and struggling home for 8pm. Instead, wellbeing and a healthy lifestyle have shot to the top of people’s priorities and requirements. More and more people are now choosing this rural way of life over urban, seeking a more relaxed and gentle pace that makes life far more enjoyable.

Many of my buyers are choosing the awe-inspiring hidden village gems over towns, where you literally step back in time. For example East Dean, Chilgrove, West Stoke and Church Norton. Venturing out between Midhurst and Petworth, you will find some more truly stunning English villages. Still within the South Downs National Park, these in particular have proved more popular with my clients over the last twelve months than they have in fifteen years! For example, Graffham, Lodsworth, Lurgashall and Lickfold.

The most sought after houses are those offering swimming pools, tennis courts, water access, water views, separate outbuildings for home office space, yoga studios or for Air B&B purposes, a separate boot room and utility room due to pets and village amenities such as a good pub, shop, village green, cricket club, croquet club and even an annual fete/dog show!

Prices are rising as a result, especially in the golden villages, which offer a good pub, shop, have a village fete and cricket green and so on, almost stepping back in time. I believe this momentum will continue throughout 2021 and into 2022, and over the long-term country houses in this area should continue to appreciate with their prices remaining high.

What is the minimum clients need to spend on property?

For West Sussex, most of my clients are spending between £1million-£7million anywhere from a small family home or weekend pad to large country houses with reasonable acreage and all the bells and whistles.

Any examples of where you have really added value in the past year?

I have an Oxfordshire client who is in the process of purchasing a house off market in the South Downs National Park just south of Petworth. They have made a very good offer in cash, and consequently the seller was encouraged by the representing professional to move out of the house into rented accommodation. This they did, in order to secure the sale. I found this property through my estate agency contacts.

I took a client to a house in the South Downs National Park which was for sale at a guide of approximately £1.5million. It had numerous viewings over a weekend and although my client was the first to offer, the offers from other buyers ended up being 20% over the asking price. I therefore advised my client to walk away so that they didn’t over pay. Not long afterwards, I found them another property off market that they are delighted with which was found through my estate agency contacts.

Click here to read the full article (paywall). For more details about how Property Acquisitions can help you with your property search in West Sussex, contact Jennie Hancock via e-mail (jh@propertyacquisitions.co.uk), phone (+44 7776452128), or LinkedIn.