This year has been an interesting one in the property market, what with the Brexit vote and the change in Stamp Duty charges for second homes. As Gail and I sit here, after what feels like a very long year and in spite of it, 2016 has been rather good for us.
There was a massive increase in demand for holiday homes in the first quarter with everyone rushing to buy before the April deadline, but the market did not stop there and we have just seen our busiest November on record.
We have seen a marked increase in people looking to relocate to Devon and Cornwall this year and we predict this to continue in 2017.
The potential buyers in the South East, having put off their move because of the increasing value of their homes, are now looking to cash in, relocate and buy their dream home in the South West and try that new life style they have always promised themselves.
The holiday home market has seen a fall off since April especially with properties priced over £250,000 but we have successfully sold where there is not only a proven income but also where our clients are offering generous guaranteed income schemes. We predict that a holiday home will be a popular buy next year with the high costs associated with buying/holidaying abroad and continued problematic foreign travel. There are cash buyers out there that are looking to buy for the long term providing they perceive they are getting value for money.
We have sold some amazing properties for our clients this year to some great buyers. One client sold their sea view family house, where they had taught 3 generations of children to swim in the pool, to downsize to North Devon to be closer to their grandchildren. The lovely family that bought Heathfield wanted to move to the area for its good schools and to be closer to their boat in Brixham Harbour. The first thing the family did, even before unpacking, was jump in the pool.
Another buyer from London due to retire in 5 years’ time, bought a sweet cottage in the coastal village of Kingsand, Cornwall that is close to 2 beaches which is perfect for her as she intends letting it and using it for holidays in the meantime. The vendors originally bought the property as a holiday let investment and sold it to purchase their dream house closer to their sons’ school in mid Devon.
Both Gail and I are looking forward to busy 2017, and we wish our clients, buyers, and all the lovely people we worked with a Merry Christmas & a Happy New Year.
Miles and Gail
(Remember to Contact us for all your property needs in 2017.)