Property in Surrey sells for record price

A property on Surrey's Wentworth Estate – a location which is said to be one of the most exclusive residential areas in Europe – sold for a record-breaking price, despite the economic downturn.

Last month, the four bedroom home in Wentworth Estate's Portnall Rise was sold by award-winning estate agents, Barton Wyatt, for a record price, making it the highest-ever price per square foot on the estate.

Over the years, Wentworth Estate has established itself as a luxury location, popular with celebrity residents, including Ernie Els, Sam Torrance, Cliff Richard and Elton John. Prices are known to be high in this enclave, but this recent sale has set a new standard.

"The Wentworth Estate is synonymous with highly desirable property and this has always been reflected in the asking prices. Our recent sale, however, smashed the previous record price of just under £1000 per square foot recorded in July 2008 for a property on the Estate, setting a new level of £1,291 per square foot," explains Rupert Wyatt, the managing partner of Barton Wyatt.

"Interestingly, the property was a modest house of four bedrooms but its superb location within a highly sought-after area meant that even in these times a new record was achieved."

Not only has this particular property ranked highly in terms of its sale price, but neighbouring roads Waverley Drive and Portnall Drive on the Wentworth Estate have also seemingly defied national trends by ranking second and third respectively in the Mouseprice Street Rankings 2008 for the South East region, making them both within the top three most expensive roads in the region.

Falling within the remit of Runnymede Council, figures from the Land Registry for October to December last year also show that the borough's overall decrease in house prices was below the Surrey average, a decline of 8.34% compared to Surrey's average of 9.2%.

\It would seem that the old saying 'location, location, location' is one that remains true, with those properties ideally situated securing the greatest prices, and the Wentworth Estate, with its famous Wentworth Club, restaurants and shops, being just one example.

According to statistics from the Land Registry, nearby Windsor and Maidenhead have seen the smallest fall in average house prices; with a drop of 6.2% in the last year. Given the current recession, this is heartening news, and places them in the top of the highest priced counties in England and Wales.

It is not difficult to see why this might be, with the county home to some of the best state and private schools in the country as well as boasting excellent transport connections in prime commuter belt territory.

Location and reputation are also important factors in the ranking of property prices in central London, which came in third place in the 'World's Most Expensive Residential Real Estate Markets 2009' report by the Global Property Guide.

"These are unmistakably difficult times for all, with financial worries and tightening purse strings affecting day-to-day life for most, but when buying a property in these tough times it is important to remember that, as always but especially now, prime locations will continue to rank highly, now and in the future," concludes Mr. Wyatt.

For more information, visit www.bartonwyatt.co.uk

Information courtesy of AB Property Marketing Ltd., and Barton Wyatt | Last updated: 20th February 2009

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