A Conversation With Theo James-Wright

Luxury Rural Real Estate In The UK

What is most appealing about owning a home in the British countryside?

British country homes come in all guises, the ‘quintessential’ Georgian house I would say appeals the most, and certainly with Netflix shows like Bridgerton, that’s only enhanced the demand for these ‘Jane Austen-esque’ homes.

Traditionally, moving out of the city and out to the country is considered something people chose to do in later life. Is this still the case, or are you seeing younger homebuyers?

We’re seeing younger buyers moving out, a lot of Wandsworth/Clapham-based buyers making a sideways move financially with kids due to easing of needing to be in London for work.

How has Covid-19 impacted the UK property market for countryside real estate?

Covid has absolutely impacted the country market, both sales and lettings. This year alone Savills Country Department has had a 91% increase in buyer activity, stock levels have been their lowest in a long time, we have something like 5 buyers per available property in the country department.

With more people working from home, do you think homebuyers are less hung up on purchasing a property that’s near a train station or easily commutable into the city?

Absolutely, there is a big compromise being taken towards train station proximity now that Mon-Fri commuting has reduced massively.

Future Predictions for the UK Property Market

What are your future predictions for the UK property market? Do you think there will be a post-pandemic exodus from London, a rise or fall in house prices?

This is such a difficult one to answer. I personally think there are a lot of potential sellers who have wanted to sell to make a lifestyle adjustment but have just spent the past 12 months falling back in love with their country home, reinvesting time, energy and money into it. They are probably not planning on going abroad much until the threat of Covid-19 is over the hill, travel can resume and life goes back to normal. I think those ‘lifestyle adjusters’ will re-engage with the world and make their move to downsize, allowing more stock to become available and possibly softening the premium some properties are achieving, due to lack of stock.

What should a potential buyer consider when embarking on purchasing a country residence? 

I think buyers need to consider what’s important to them, many of those moving out of London are used to having every lifestyle choice available under the sun to them. There’s no Deliveroo or Uber in most parts of rural life! Some people can think bigger is better, but actually going from a 3,000sqft house to a 10,000sqft house is a huge seismic change to living and living costs. Also remember some houses are on oil and have private drainage, so some new life admin which some may find tedious.

As an expert property agent who specialises in acquiring country properties, what is your opinion on purchasing a property which requires renovation vs finished homes?

This one is so personal and case by case, because I’ve had buyers seek out one and end up with the other. Renovations, again, can be a nightmare if it’s listed and if you’re in a strict conservation area. Buying a finished home, particularly now, can come with a serious premium attached.