So you’ve decided you really want a country house. Nothing too big; more a residential estate than a working or sporting one so perhaps just 48 acres. Luckily your four-bed house in the best part of Fulham is worth £1.75m so you can sell up and surely move straight into your dream rural arcadia? Unfortunately a recent survey by upmarket estate agents Savills has shown that you might need just a bit more money than that.
As always, proximity to London is the key factor in determining how far your money will stretch. With the Russians and Middle Eastern families not willing to be too far from the cultural delights of Bond Street the price of a decent country house with 48 acres in Surrey tops the table. To secure a decent small estate in the nicest parts would require between £15m-£20m but a similar property in Hampshire would set you back just £10m on average.
So with the those two counties ruled out, where next? The Cotswolds have always been popular with the corresponding effect on prices but if Hampshire is too expensive then unfortunately you’re also out of luck in Gloucestershire with the average there hitting £12m – but north Oxfordshire might look attractive with the average of between £7m-£8m.
Distance from London reduces prices but with broadband making working from your country home on Friday possible Dorset or Wiltshire are still very attractive but more affordable – but you’ll still have to expect to pay between £4.5m-£5m. Fewer transport options make East Anglia even cheaper with a country house in Norfolk going for around £3.25m – which makes the pretty Great Hockham Hall [pictured above], a grade-II listed Queen Anne house built in 1702 and with 47.66 acres, almost a bargain at £2.95m.
So where could you trade in your Fulham house for a small country estate? Step forward Lincolnshire where the average is the lowest in England at ‘just’ £1.75m-£2.25m. So proving that everything is relative it seems that even the high prices of London don’t always directly translate into a ticket to the country life unless you’re willing to go where the market takes you.
Source: research by Savills (but listed not on their website) and reported in The Times ‘Bricks & Mortar’ property supplement on Friday 18 June (but their website doesn’t allow access so no link there either).
If you are interested in the rest of the report or the averages for other counties I’m guessing the best contact is Alex Lawson at Savills (Rural Research) on +44 (0) 20 7409 8882 or email firstname.lastname@example.org.