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2020 was certainly an unusual year and whilst we are still emerging from the third Lockdown, there is a large degree of optimism to be had.
Last year saw significant additional demand and buoyant conditions from May, with properties selling quickly and at increasing prices throughout the year.
Buyers for Stags Equestrian properties were numerous with 30% of those sold to buyers from the South East, and over 2% from abroad. It should also be noted that 47% of the buyers were already living here in the South West, with many taking advantage of increased prices and the stamp duty holiday to upsize to their dream home, gaining extra space and facilities. The average Stags Equestrian property sold with just less than 10 acres.
As always statistics give general guides, however Stags sell a very wide range of equestrian property with many across the region sold. In early 2020, we completed on a unique equestrian property with a ready-made livery business in 10.5 acres which included a set of safari tents, near West Hill not far from Exeter and saw significant demand from a range of purchasers, both investors and equestrian enthusiasts. Another notable sale was that of Cloverhayes Farm near the Devon/Dorset border, set up by the owner as dressage yard, there was a 60m x 20m arena as well as several stables set within over 20 acres and the property exchanged contracts just three weeks after agreeing the sale to a cash buyer shortly before Christmas.
Due to the high level of demand and relatively low levels of properties there is significant competition for virtually every property. Buyers are putting themselves in the best position to be able to buy, with 52% of the buyers for equestrian properties through Stags last year buying without needing a mortgage.
It is easy to see why the West Country is such a great place to find your perfect equestrian home, with excellent training and competition centres, alongside amazing out riding, including two National Parks in Dartmoor and Exmoor as well as 10 Areas of Outstanding Natural Beauty and lots of horse friendly beaches, there is something for everyone.
Kevin Clarke Head of Stags Equestrian department comments “As we look forward to the rest of 2021 and restrictions being further lifted, I can’t help but think that the demand will continue apace. With a multitude of buyers for most new properties, it pays to be organised to make the most of the situation. The only element that will restrict the number of sales this year is likely to be the supply of new properties coming to the market, so if you are thinking about selling, this is the ideal time to make the most of the fantastic market conditions, presenting your property well and strategically to the right buyers to obtain the highest price.”
For further advice relating to the sale or purchase of Equestrian properties, please contact Kevin Clarke on 01404 45885 or honiton@stags.co.uk
