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Kevin Clarke MSC MRICS FAAV, partner and head of equestrian reviews the first half of 2024 for the equestrian property market, highlighting the impact from the recent general election.
Over the past two years, the West Country property market has experienced significant ups and downs, however, the resilience of buyers from the South West has sustained market activity, capitalising on the better balance between supply and demand. 63% of equestrian properties sold by Stags in the first half of 2024 were from buyers living in the West Country.
So far in 2024, Stags has sold nearly £38 million worth of equestrian properties. These range from stable yards with paddocks to substantial homes with multiple facilities and direct outriding. This achievement showcases our extensive expertise and knowledge in dealing with a diverse array of properties.
Following the recent UK election and changes in mortgage rates, we are observing renewed buyer confidence. The stability in political leadership and more favourable borrowing conditions have positively impacted the property market. The early part of 2024 has already seen several sales agreements, with continued demand driven by an increased appreciation for outdoor living, although 61% of buyers so far this year have purchased with cash and only 41% of those were selling to purchase.
The West Country boasts outstanding natural attributes, excellent connectivity to the rest of the UK, and some of the best-established equestrian competition centres. This makes it a highly attractive region for anyone with an interest in horses.
Considering Selling? If you are thinking of selling your equestrian property, contact one of our local experts to discover how we can assist you on your journey.
Alternatively, if you are thinking of buying a dream home for you and your horse, you can view our current properties for sale here.
