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New homes continue to be a popular choice for buyers who are noticing the higher running costs of an older, more traditional, home. This may be one of the reasons why, in a recent survey from the house building industry, one in every ten homes purchased in 2021 was a new build. It will be interesting to see what the figures for 2022 provide, but one thing for certain is that new homes will always be a popular choice.
With our network of 22 offices across the West Country, we are seeing many of our offices handle single and multiple plots of new homes sales. With the added shortage of housing stock on the market last year, some buyers chose to purchase a new home, not only for all the obvious benefits that new homes bring, but because of their availability and the ability to buy “off plan” without a chain of sales related to the purchase.
Our Torquay office has had some great sales successes, including Trinity House above Watcombe Beach. Trinity House was originally built in the mid-19th century and has been painstakingly restored while being redeveloped in order to retain its wonderful original features. The development, comprising eight apartments and four mews homes, is uniquely positioned, being within walking distance from Watcombe Beach and the South West Coastal Path, while still being close to local amenities.
By the end of February, four units will be occupied, with another approaching occupation shortly. The development has appealed to a range of buyers, who have come from within Devon as well as from London and the Home Counties. Buyers have been investors, second-home owners and others who plan to make it their home.
Our Barnstaple team continues to sell the newbuild apartments at Tors Park, Lynmouth, with around 70% having been sold “off plan”. Construction is now advanced and prospective purchasers can view what is being sold. This includes a good choice of one and two-bedroom apartments, all with private outside balconies or terraces and sea or river views. Prices range from £399,000-£635,000. These superb homes are likely to interest investors, wanting a healthy ‘buy to let’ yield, or purchasers wanting to live in a timeless village, surrounded by the natural beauty of Exmoor.
In many locations, it has become increasingly popular to develop former farm buildings. Many of these are converted from the original structure and basically house a new dwelling within a refurbished shell. In more recent cases, consent has been achieved to replace the former structure on site with a new dwelling in the style of what stood there previously. In a few instances, planning permission has been achieved to go one stage further and to build a more conventional replacement dwelling. All of these properties tend to be unique, varying in shapes and sizes and generally in wonderful rural locations. One of the finest examples is Horwood Grange, which is a fabulous barn conversion being sold, together with 30 acres, close to the favoured coastal resort of Instow. Our Planning and Design department in our Exeter office can help with design and gaining planning permission for these projects.
Our offices across the West Country regularly sell former farm buildings and then the converted end product. Therefore, if you are looking for a build project or an unusual, individual new home, please contact your nearest Stags office, which can be found on stags.co.uk/branches.