Price growth strong across all regions
Annual property price growth in the South West is significantly stronger than a year ago, as the shortage of property to buy continues to support prices. Agents across the region report the current sales to stock ratio remains high (RICS), with properties selling in just 32 days (Rightmove).
Double-digit property price growth is evident in eight areas of Devon and Cornwall. West Devon and North Devon are currently the strongest performing areas.
Surge in sales
It is estimated 880,000 property sales took place across the UK in the first six months of 2021, the highest half year total ever recorded and 50% higher than the same period in 2019 (HMRC). It is anticipated sales will top 1.5 million over the course of the year. Buyers have been spurred on by a desire for change and financial savings as a result of taxation ‘holidays’, with over 60% paying no tax on their purchase.
In Devon and Cornwall, the most active housing markets over the past year have been in South Hams and East Devon.
Space to be
The search for space continues to drive many buying decisions. As businesses adopt more flexible ways of working, blended working patterns are set to become the norm for many, and personal wellbeing has shot up the agenda. The local environment, gardens, greater internal square footage and a demarcated space to work from home, all continue to be deemed more important property features in a new home.
Properties for sale in the South West region of the UK
This impressive seven-bedroom traditional farmhouse has a later Georgian-style extension and is set on the edge of the quiet and popular village of Menheniot. Offering the potential to create a self-contained annexe, this home provides a double garage, five reception rooms and two acres of lawned and mature gardens.
This most attractive Grade II Listed detached period thatched cottage is located in a delightful and accessible rural setting, enjoying magnificent rural views over the surrounding rolling Devonshire countryside. The beautiful 17th-century detached cottage enjoys a plot of 0.4 acres, which includes beautiful gardens, a small paddock, parking for multiple vehicles, a modern double garage offering character-filler three/four-bedroom accommodation, including a wonderful living room with multi-fuel stove.
Chants Cottage is situated in a beautiful rural location, just five miles west of Exeter City centre, which provides an extensive range of facilities and transport links to the rest of the country. Externally, the property sits proudly within over 6 acres of grounds and benefits from incredible views from Exeter right across to Dartmoor. There are a range of useful outbuildings and storage sheds, as well as a converted stable block previously used as AirBnb accommodation.
Make the most of double-digit property price growth with the best estate agent in your area. Contact your local Guild Member today.