We turn the spotlight on the Isle of Wight’s housing market, giving examples of property type and house prices, and investigate the island’s history and present-day appeal.
Let’s take a look and see if there are any properties matching your search criteria!
The Isle of Wight
Situated off the south coast of England, the diamond-shaped Isle of Wight in the English Channel is one of the sunniest spots in the UK. Separated from the mainland by The Solent, the island measures 26 miles from east to west, and 13 miles from north to south.
The property type ranges from Grade II listed houses and Victorian villas to individually designed new homes standing in pretty villages, historic towns, and characterful harbours. Signs of occupation on the island date from the early Bronze Age, along with Roman remains.
The Isle of Wight comprises 57 miles of coastline, including rugged cliffs and sandy beaches. Over half of the island is designated as an Area of Outstanding Natural Beauty. A holiday destination since Victorian times, its main attractions include the mild climate and wonderful scenery. Today, visitors and residents enjoy activities including sailing, paddle boarding, golf, surfing, and paragliding, along with stylish restaurants and food from local producers.
A chalk ridge runs from east to west across the island, ending with The Needles, three white 100 feet high chalk rocks jutting into the sea, guarded by a 19th-century lighthouse.
The main towns include Yarmouth, Cowes, and Ryde while the administrative centre is Newport in the middle of the island. The Isle of Wight is 60 miles from London – it can be reached from the City in two hours via the A3 and M3, and is closer to London than Cornwall and Devon. Foot passengers can travel across The Solent by Hovercraft in around 10 minutes and there are six ferry routes that can take you to Cowes, Yarmouth, East Cowes, Fishbourne and Ryde.
The Isle of Wight property market
Sold house prices provided by Rightmove for the Isle of Wight averaged £290,449 over the last year. Overall, sold house prices over the last year were 3% down on the previous year and 18% up on 2019 when prices reached £245,549. Sold house prices provided by OnTheMarket averaged £304,000 on July 5, 2022, a rise of 1.8% over the last year.
Sales director at estate agents Trigg & Co, Rhys Burtenshaw said :
The last two years have been a rollercoaster, now we are seeing a slight slowing of the market following the rise in interest rates. Generally, the island is less expensive compared to the south coast of England, and we have a lot of retirees who buy here, but this market is less vibrant than a year ago.
We have a population of around 150,000, and we are very localised, selling homes to a lot of families and there is a large retirement community here from the Home Counties. We have sold more second homes over the last 2-3 years than ever before, which has put house prices up to some extent and the closer to the coast, the higher the prices are in general. However, we don’t feel the highs and lows of the market as much as the south of England does.
Trigg & Co are selling Stone Cross Cottage, a Grade II listed, thatched detached house at Godshill, towards the south of the island. This delightful family home has many period features but has been beautifully converted to provide all the benefits of modern living.
This sale, which is chain free, offers a rare opportunity to buy a unique detached house. The sale includes a large barn, office and storage space, which has been used as the base for a cider business and there is the possibility of buying the business separately from the current occupier. The house has three bedrooms, two reception rooms, one bathroom and beautiful grounds. The asking price is £700,000.
Mr. Burtonshaw added:
The cottage was renovated around 12 years ago. There are opportunities to use the barn for other types of business or a purchaser could retain the current cider business as part of the sale. The property is in the heart of the village, which gives it a good footfall from a business perspective.
The present Isle of Wight property market
The market is slowing slightly, according to Isle of Wight estate agents Spence Willard. An appointed representative said:
The market has slackened a little, people are nervous about what’s happening in the economy and the wider world, and many are choosing to sit on their money. However, we are seeing a flurry of activity at the lower end of the market, and we are having a lot of viewings, but things are quieter at the higher end.
We have a mixture of people coming to live on the Isle of Wight, some come to retire, others are coming because working from home means they can live anywhere. There has been an influx of people coming here, as it’s seen as a safe place to live following Covid and the lockdowns.
House prices are not falling, they have risen in recent years and whereas people used to come here and think that property was cheaper than on the mainland, this may not be the case. We find the main reason people like the Isle of Wight is because of the slower pace of life.
Tall Trees at Shorwell has been beautifully converted from two late 19th-century former farm cottages, into a wonderful family home. This detached house has two reception rooms and a spacious veranda which makes an ideal entertaining space.
A large extension provides a sitting room with triple aspect windows and superb views over the surrounding countryside. The roomy kitchen/living area also benefits from beautiful views and has an electric Aga, powered by photovoltaic panels which supplement the house’s electricity and provide the owner with an annual payment (solar thermal panels help heat the hot water.)
There is also a snug, lobby, sitting room, cloakroom, four double bedrooms, one with an en-suite bathroom, and a family bathroom. Outside there is an orchard, paddock, mature south-facing garden, double garage and storage shed. Tall Trees is for sale with the Spence Willard estate agency, priced at £875,000.
More properties for sale on the Isle of Wight
This Grade II detached house at Whitcombe Road, conveniently located near the Isle of Wight’s main town of Newport, stands in 1.8 acres of land. Estate agents Watson Bull & Porter are seeking offers in the region of £595,000. Situated in a rural location, Valley Cottage is a semi-detached house with accommodation spread over three floors. It has period features, three bedrooms, two reception rooms, a detached garage, workshop, garden and stunning views.
This large, detached house on Fairlee Road, Newport is priced at offers in the region of £425,000. It has three bedrooms, a double garage and two reception rooms, along with spacious gardens and views over the countryside. It is chain free and is being sold by estate agents Watson Bull & Porter.
If you’re looking for a spacious family house, Adelaid Grove, East Cowes, might fit your property search requirements. The accommodation at this semi-detached property is set over three floors: there are four bedrooms, two bathrooms, a hall, two reception rooms, a kitchen and a garden office. Outside, there’s a spacious parking area and an enclosed garden. It’s for sale with Coast to Castle estate agents, priced at £380,000.
Occupying a generous corner plot, Highfield Road, Cowes is a two-bedroom detached bungalow close to shops and transport links. Set on a quiet cul-de-sac, it has a garage and off-road parking. Estate agents Pittis are looking for offers of £315,000.
This building plot at Gurnard has planning permission for a three-bedroom, detached chalet bungalow with wrap-around gardens. It’s a short walk from the seafront and conveniently located for Cowes. For sale through Spence Willard estate agents, the plot has a guide price of £325,000.
The Isle of Wight’s main towns include:
Cowes
Historic Cowes at the north of the island is the main port and boasts a varied property type. Cowes Week in early August marks the culmination of annual sailing regattas from Cowes. Nearby is Osborne House, the former residence of Queen Victoria who died there in 1901.
Colwell Bay
There are spectacular views from this northwest bay over The Solent to mainland England. There’s a small beach, calm waters, and sloping sand.
Yarmouth
On the northwest side of the island at the mouth of the River Yar, this is home to some of the oldest properties on the Isle of Wight, including a 16th-century castle and Grade II pier. It’s also the base for one of the main ferry services which operate from the busy harbour.
Bembridge village
Standing on the most easterly part of the island, Bembridge stretches around the eastern tip of the island. This bustling village boasts a harbour, three beaches, an airport, a pier, and a lifeboat station. Nearby Culver Down is a notable wildlife area that leads to white cliffs.
Ryde
This traditional seaside town on the northeast coast features a mix of property types, including Georgian and Victorian architecture. It has six miles of sandy beach, and thriving shops and is where the FastCat and Hovercraft services operate to the mainland.
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