At 8.5%, average annual price growth in the South West is stronger than the UK average. Growth is currently at its strongest level in over four years and considerably higher than the -0.2% recorded this time a year ago. Rightmove report average asking prices rose 0.6% month on month across the region in January, one of only two regions to see a rise. Properties are also selling more quickly than a year ago.
At £278,391 the average price of a property in the South West is £21,852 more expensive than a year ago and activity across the market is robust. On average 3.7% of private properties are sold each year, with turnover across East Devon over 4%. More than 10,900 new homes were registered for sale during 2020, and nationally registrations have been on an upward trend since September.
First-time buyers were particularly affected by the closed housing market and the stricter mortgage lending that followed. However, buyer numbers have recovered steadily, with transactions just 2% lower year on year during the final six months of 2020 (UK Finance). The number of High Loan-to-Value (LTV) mortgage products has also increased, Moneyfacts reporting there were 169 products available at 90% LTV in January, over double the number available back in July. Lending rates remain low, the average mortgage rate the lowest in history.
This bright and spacious four-bedroom detached house has a double garage and good-sized gardens with beautiful countryside views. Situated in an idyllic village location, the home is only a short walk from the nearest primary school and has good links to Okehampton, Crediton and Exeter.
This modern family home has a bespoke breakfast-kitchen with separate utility, a living room that opens to the dining room, a study, a family bathroom and one en-suite bathroom.
With unbeatable views of the River Torridge, this substantial five-bedroom, waterfront home boasts an attached four-bedroom annexe and grounds of approximately 4.5 acres, which includes pasture paddocks suitable for equestrian use.
This character property further benefits from a river beach, a large workshop, a boat house, a slipway onto the river, two moorings, a tennis court, a castellated gun emplacement and direct access onto the coastal path.
This 16th-century, Grade II Listed, former hotel benefits from eight en-suite bedrooms, plus a detached three-bedroom cottage with lovely gardens and views, all found near Chagford in the heart of the beautiful Dartmoor National Park.
The accommodation includes four spacious reception rooms, plus a commercial style kitchen with an attached utility room. The original house has many fantastic character features including grand fireplaces, exposed beams and beautiful doors.
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