It is no longer uncommon to be a millionaire. Barclays Wealth conducted a survey that suggests there are 715,000 millionaires in the UK – one in every 65 adults. They predict that in another ten years there will be almost 800,000 millionaires living on these shores.
In 2010, last time Barclays Wealth carried out their study, there were 40% fewer millionaires. The report surmised that booming house prices, bonus payments and good returns in equity markets had all had a hand to play in the rise.
Needless to say the economic powerhouse remains as London and the South East but areas outside of this have boomed too – nearly half of the ‘new’ millionaires created since 2010 live outside the southern money bubble.
The first village in the UK to have an average house price of over a million in June 2013 was Virginia Water according to Zoopla at the time, when the average house price scraped over £1,00,000. Today that has not changed significantly – Zoopla figures state £1,122,082 is the average price paid for a property in the area, representing a 5.5% increase over the past year.
Barton Wyatt estate agents Surrey have been in Virginia Water for 50 years and the Wyatt brothers who run this exclusive agency are no strangers to millionaires. Indeed, the average house price sale for Barton Wyatt in the past year sits at an eye watering £2,879,032.
James Wyatt, Partner of Barton Wyatt, comments:
“It has been fascinating watching Virginia Water – which encompasses the elite Wentworth – over the past 50 years. House prices have always been high here. The area has attracted kings, queens, celebrities and superstars over the years, which has in itself encouraged the inflow of further wealthy families.
“I predict that house prices in Virginia Water will continue to rise over the next ten years by something like 60%. The houses that are being built on Wentworth to replace others that have been demol
demolished are often colossal. These homes are being bought by international buyers very discreetly as an alternative to buying in overpriced London”
And why is Virginia Water and Wentworth a top spot for the jetset looking for a peaceful home in the UK?
Here are Barton Wyatt’s top ten reasons why their village has it all:
- Covenants – the covenants in Wentworth have restricted owners and developers alike from taking down houses and in-filling with lots of homes. One plot has to remain one plot and this has secured exclusivity and driven the prices up.
- Golf – the Wentworth Club has attracted top golfers for decades. Since its inception in the 1920’s Wentworth has been famed for its interesting fairways discreetly lined with large homes, which are tucked behind deep foliage. Golfers peer at the homes and owners often have good views of the course from raised vantage points.
- The PGA tournament – this has kept Virginia Water and Wentworth in the limelight. Wonderful TV footage of lush greens, huge conifers and enormous houses with top flight golfers vying for the number one spot has assured fame for the area.
- The Wentworth Club – is far from all about golf. 13 tennis courts feature a combination of surfaces for optimum seasonal playing conditions including: all weather, artificial clay and acrylic – nine of which are also floodlit. A fabulous multi gym, indoor pool and very large outside pool all add to the mix. Whether you want swimming lessons for the children, a personal trainer or just to make new friends the Wentworth Club is likely to be on the agenda for any family living nearby.
- Polo – There is something extremely classy about hanging out with people who do or know about Polo. They are generally extremely rich and/or very beautiful – all of which goes down very well in VW. Guards Polo is now the largest polo club in Europe and sits within Windsor Great Park . The Club is set in the outstanding natural surroundings of Smith’s Lawn, which is thought to have been named after a game keeper at the time of the Restoration in the 17th century and is just a short walk from the lake at Virginia Water.
- Virginia Water Lake – the lake was first dammed and flooded in 1753. Until the creation of the great reservoirs, it was the largest man-made body of water in the British Isles. This is a beautiful spot and wonderful to have on the doorstep. The circuit around the lake is about 4.5 miles, half paved and the other half a “natural” path, which provides easy walking conditions even with a pram or pushchair.
- Getting to London – easily achieved in under an hour. Trains run regularly to Waterloo and you could be at your desk in little over an hour – or of course shopping at Selfridges or Harrods.
- Transport Links – Heathrow airport is just 10 minutes away – essential for most residents who have homes and businesses in other parts of the world. Virginia Water sits close to the M3, M25 and M4, so getting around the UK is easy too.
- Schools – Some of the UK’s finest public schools are within easy reach of Virginia Water: Eton, Wellington and St Georges are popular. For international students there is a choice of two international schools tutoring the International Baccalaureate alongside the British education system.
- People like us – Virginia Water/Wentworth is a wealthy village – it attracts wealthy people and you know your neighbours’ children will go to the same schools, go to pony camp together and eventually as they grow – date each other. Your neighbours will have nice cars, well-kept homes and gardens and have similar values to yours. You will meet at drinks parties, go to restaurants and bump into them in the village. They will be like you and this is why they live here – because they are People like us.
An example of two houses that are on the market and would suit ‘People like us!’
Windsor House, Woodland Road East £6,950,000
Magnificent master bedroom suite with his and hers dressing rooms and bath/shower rooms, five further bedroom and bath/shower room suites, drawing room, dining room, study, family room, garden room, kitchen/breakfast room, utility, three ground floor cloakrooms, gymnasium/staff accommodation over a triple garage, outdoor swimming pool, south facing gardens amounting to approximately one acre in all.
A stunning brand new Wentworth mansion house ready for immediate occupation and fully furnished if desired. Set in a wonderful south facing one acre plot in a highly desirable location within the Wentworth Estate, just a short walk from the picturesque village shops and mainline station, and approximately one mile from the world renowned Wentworth Golf and Country Club.
Wellington House, Wentworth £7,450,000
This virtually brand new residence was completed in 2011 to an exceptional style and quality in this superb location. The property offers in excess of 11,000 square foot of luxury!
The specification is of the highest order using individual and hand built craftsmanship. There is a superb entrance way which leads to a dining hall with casement doors onto the garden. The principle rooms lead off the main hall and there is a grand staircase to the first floor. Approached off the hall is the cloakroom, study, drawing room and magnificent kitchen/breakfast room which measures 45ft x 27ft. This room is equipped with a comprehensive bespoke range of hand painted wall and floor Shaker style cupboards with stone work surfaces and a good range of appliances including Wolf cooker, sub-zero American style fridge freezer etc.
For leisure there is a superb indoor pool, and sauna.
There is an annexe kitchen with a comprehensive range of cupboards and work surfaces for entertaining on a grand scale. The bathroom en-suites and cloakrooms all have Villeroy and Bosch sanitary ware. On the first floor, there are four bedroom suites, the master bedroom suite is truly sumptuous with a sitting room, dressing area and en-suite bathroom. There is also access to the balcony overlooking the beautiful south facing grounds. On the second floor, there are two further bedrooms, both en-suite and a large storeroom.
The property is in private and well screened grounds of approximately one acre with a southerly aspect and this view is enjoyed from the principal rooms of the house. French doors on the ground floor lead out onto a sizeable sun terrace which stretches the width of the property and provides excellent space for al fresco dining. The main part of the garden is made up of a well maintained area of lawn surrounded by a wealth of mature shrubs and beds. To the front of the property there are wrought iron electric gates with brick piers opening onto the large driveway which leads to the triple garage with staff flat above. There is ample parking for vehicles.
Barton Wyatt provide luxury and select Property for sale in Ascot.
James Wyatt MNAEA, MARLA, TRC, REALTOR ® is a partner at Barton Wyatt Estate Agents Surrey.
Tel: 01344 843000
