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Considering a change of scene?

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Ben Stephens, Stags Partner comments...

The property website Rightmove has recently released ‘The 10 most searched-for locations in 2021’, with Devon and Cornwall taking two of the top three positions and Dorset ranking 10th. The lead spot was taken by London, however, the difference between London and Cornwall was just 3%, compared to a gap of 24% in 2020 and 49% in 2019. These statistics succinctly tell us all we need to know about how people are thinking differently and, above all, where they want to live.

Underpinning the picture is a lack of supply, with most industry surveys continuing to show a dearth of new properties being listed. Whilst new stock is coming as we enter the Spring market, it is just not enough to keep pace with demand, a fact borne out by the last quarter seeing a 3.5% increase in prices across the South West (Halifax).

To date in 2022, Stags has seen a 72% increase in the appraisals of property compared to the same time in 2021, however, instruction levels are only 27% ahead. In turn, demand has escalated as buyers actively seek their family home or West Country retreat. Competitive bidding is still very much part of the sale process, with many of Stags’ recent sales at or above the guide price; the highest percentage paid over the guide being 34% for a Cornish waterside home.

Our experienced team are on hand to discuss how much your property may be worth. Alternatively, our online valuation tool provides an estimated value by combining local market data, property sale records and statistical techniques to give you an instant estimated value.