Regional Property Market Update Summer 2021: South West
2021 is set to be one of the busiest sales years in over a decade
Agents report the sales to stock ratio across the South West is at a record high (RICS). At 3.8%, the annual rate of housing stock turnover across Devon and Cornwall is above the UK average. The most active markets are currently the South Hams, East, North and Mid Devon.
Price growth strengthens
Although new instructions to the market have improved slightly in recent weeks, demand continues to outpace supply, placing sustained pressure on prices. Month-on-month average property prices are rising in all regions of the UK. Year-on-year price growth across the South West is substantially stronger than the 2.5% recorded this time a year ago (UKHPI). Double-digit annual price growth is evident in Cornwall, Exeter, South Hams and West Devon.
A seller’s market
Market activity is fast-paced. According to Rightmove, the average time taken to sell a property in the South West is 43 days. The proportion of properties selling within their first week of listing is at a record high (Zoopla) and the average time taken to sell a property in the UK is nearly three weeks quicker than in April 2019 (Rightmove). Lifestyle change continues to drive demand, buyers also aided by the extension of elements of tax relief and the new 95% government-backed mortgage guarantee scheme, available on either new or resale properties.
Properties for sale in the South West region of the UK
St. Leonards, Exeter, 5 bedrooms
Haldon Court is one of the finest detached houses in the city of Exeter. The Grade II Listed property is beautifully presented, providing well-proportioned accommodation over four floors while retaining a great deal of original detail including fireplaces and stained glass. There are spacious living areas throughout, a large conservatory, and landscaped garden to the rear.
Derriford, Plymouth, 5 bedrooms
This superb Tudor-style residence occupies a fabulous plot with adjoining woodland. The property offers easy access to a host of local amenities, while the spacious and well-proportioned accommodation is arranged over two levels and with a galleried staircase to the landing and a dual-aspect lounge with access to the garden via patio doors. The master bedroom has an en-suite bathroom and access to an enclosed balcony which has views across the garden and woodland.
St. Mawes, Cornwall, 4 bedrooms
This exclusive new development comprises three houses of outstanding quality specifications, within private electronic gated entrance, in grandstand position benefitting from the beautiful harbour, bay, and National Trust countryside and sea views. The property is within 350 yards of local amenities, beaches and sailing facilities of St. Mawes. It has been carefully and thoughtfully designed to maximise the beautiful vista as well as bring the outside in, from landscaped and enclosed gardens that include a hot tub and heated outdoor shower.
Contact us
Take advantage of the seller's market this summer with the best agent in your area. Contact your local Guild Member today.
