Here’s what’s going down in 2025 and what you need to do about it (this article first featured on Dwell Devon).
If you’ve been keeping half an eye on the property market lately (or even just wondering why every other rental on your street suddenly has a “For Sale” sign up), you’re not alone. And if you’re thinking of making a move to, or within Devon this year, you might be thinking: “I wish I knew someone who’s in-the-know”… It can be mind-scrambling, can’t it?
As someone in the thick of it day in and day out, Jack Merriott McMillian Duncan shares what Cross Keys Estates is seeing out there – trends, tips, and a few red flags to watch out for – all in plain English.
So grab a cuppa, and let’s dive in!
Q. What’s new in the UK housing market this year?
Honestly? Landlords are leaving. Fast. We’re talking hundreds exiting the market and we can’t blame them. Between the rental reform bill, the scrapping of Section 21, extra stamp duty charges, sky-high buy-to-let mortgage rates, and changes to tenancy laws, many landlords are just calling it quits, moving their cash into high-interest ISAs instead.
Meanwhile, housebuilders are trying to squeeze more homes into less space – think tall and narrow properties stacked over three or four floors. And let’s be real: cramming people into tiny flats isn’t solving the housing crisis. Most people still want a house with a garden, a space for the dog, or a safe area for the kids. Flats in big blocks are struggling, especially with the cladding/fire safety issues. Some are literally unsellable right now. Plus, lenders hate anything over 11 floors, and local solicitors aren’t thrilled about doing paperwork on blocks taller than six. So yeah, flats = band-aid, not a fix.
Q. How are interest rates and the economy messing with the market?
If a house is priced over £400k right now, it’s probably just sitting there. Buyers in that bracket usually sell to buy again, but with borrowing costs up, people aren’t making that leap. So, everything over £400k is bottlenecked, like property gridlock. No movement at the top = no movement below.
Q. Any advice for someone selling in 2025?
Watch out for sneaky agents. Yep, I said it. There are some shady tactics going around. Some agents are telling sellers their homes are worth way more than they really are – by 10–20% in some cases – just to win the listing. It’s called “buying the instruction.” Then, once you’ve signed a 6-month contract, their sales team nudges you to drop the price (and they get commission for that!).
Recently I saw a flat listed for £130k that’s worth, at best, £100k. It wasn’t even in great shape. So our advice is please work with qualified agents who are members of the National Association of Estate Agents.
Q. We need some good news, so how do you actually sell a house in this market?
One word: PRICE. We’re in a buyers’ market, and if you’re priced too high, forget it – no one’s even coming to view. No viewers = no offers = no sale. It’s that simple. At Cross Keys Estates, we love using guide pricing.
For example, if your home’s realistically worth £210k, we’ll list it at “Guide Price £200,000–£225,000” (with £210k as the reserve). That way, more buyers bite, viewings go up, and sometimes we even get a little bidding war going. More interest = better offers and, ideally, a smoother sale with chain-free buyers.
Q. Are there any cool marketing tools sellers should be using?
Oh yes! We’re big fans of TikTok for property tours and love using drones for those swoon-worthy aerial shots. Honestly, it’s crazy to us that some agents still don’t offer online floor plans – like, how are buyers supposed to plan a future without knowing what goes where?
Digital is where it’s at. Eye-catching video tours, smart social media, great photography – it all helps your home stand out in a crowded market.
Q. What’s the deal with Stamp Duty in 2025?
Ah, the good old property tax. It’s still here, still confusing. For most homes in Plymouth, it’s not a deal breaker, but just so you know:
£0–£125,000: no tax
£125,001–£250,000: 2%
£250,001–£925,000: 5%
£925,001–£1.5 million: 10%
£1.5 million+: 12%
So if you’re buying a house for, say, £295,000, your stamp duty will be about £4,750. Not nothing, but not the end of the world either.
Q. What’s happening with rental laws?
The EPC (Energy Performance Certificate) rules are tightening up. Right now, rental properties need an EPC rating of E or above. But by 2030 (maybe sooner!), landlords will need a C rating to legally let a property – unless it’s listed.
So, if you’ve got a draughty old rental, it might be time for an upgrade… or an exit strategy.
Q. Will sustainability be a legal thing in 2025?
Yes, we’re heading that way. Think solar panels, ground-source heat pumps, triple glazing, EV charging points—and even bee bricks (yep, they exist). Right now, they’re “nice to have,” but give it a few years, and they’ll likely be mandatory, especially in new builds and through planning permissions.
Q. Should I make my home more eco-friendly before I sell?
Honestly? Most buyers today are still focused on two things: “Can I get a mortgage?” and “Can I afford to live here?” They’re not walking away from their dream home over a lack of LED bulbs or solar panels.
If energy costs keep rising, that might change. But for now, I’d say price out any upgrades – heat pumps, triple glazing, solar panels – and compare the cost to the value uplift. If the math doesn’t work, leave it for the next owner. Plus, if you’re in a flat, making those changes can be a bureaucratic nightmare (hello, freeholders…).
And there you have it – your 2025 property lowdown from the front lines. Got questions or need some help on your own buying/selling journey? Please feel free to contact us on 01752 500099 or email us HERE
I have headed up Cross Keys Lettings Maintenance department since 2020 and this has proved to be challenging but also hugely enjoyable! As soon as tenants report a maintenance issue on their property, I then look into it further and report directly to the landlord of the property. It goes without saying that we get some urgent issues like water leaks, boilers breaking down and so I have to sweet talk contractors into dropping what they are doing to attend immediately!
One of the most frustrating things for me is when I set up a visit for a contractor to attend a property and the tenant either forgets or has to go out so the contractor cannot gain access and I have to set up the visit again. I have learned that regardless of what a tenant or a contractor says to me, I insist that they take a key!
We have had a couple of amusing issues such as when I attended a property to get rid of a mouse in the cupboard and yes, I did it! I’ve crawled under cupboards to stops small leaks, had my hands down drains, unblocked sinks and done all sort of other yukky things but I am a really pro-active person I just get on with it. I have joked to my Directors that I could do with a workman’s tool belt but this still hasn’t arrived yet!
On the whole I have a very good relationship with my Landlords, as at the end of the day they are putting their properties into our hands and trusting us to look after them as best as we can. I do believe that the key to keeping all parties happy is communication. I do my utmost to keep everyone updated at all times but sometimes I do have to put my “school-maam” voice on to gee up the Contractors! I am a great believer in kindness and understanding and this does go a long way in my role but of course I also have to take a firm stance on occasion.
It goes without saying that tenants can get quite stressed about things so I always do my best to reassure them and deal with the problem as quickly and efficiently as I can. I think (hope) that they do appreciate what I do.
When I have a stressful day, like we all do sometimes, there is nothing I love more than a dip in the sea to calm down and relax. Some people laugh as they think I am mad, especially on a freezing January morning, but I find it very therapeutic and I would recommend it to anyone. I started sea swimming during the covid epidemic and it is now part of my life and I would be lost without it!
The worst thing is when the weather is bad and I cannot go in – it sometimes ruins my day! If you don’t see me swimming you will catch me in my garden looking after my plants which I have grown for many a year. I also love walking and often go with with a friend so that we can put the world to rights, which I think we all do, especially during these difficult times. Nothing ever gets solved but it’s fun! A good talk, laugh and cry, on occasions, does us all good and helps us get ready for a fresh start to another day.
My husband and I relocated south to Plymouth from Yorkshire in April 2022 after a long time spent deliberating, weighing up the pros and cons and mostly trying to convince friends and family that we hadn’t gone completely crazy. Not only did we rent a property from Cross Keys, they also offered me a job too, which I readily accepted after an interview in The Fisherman’s Arms down in the Barbican!
I cannot believe now that it has been just over two years and like our family and friends who visit, we have very much concluded that it was a great move for us to an amazing city.
Whilst a little apprehensive about moving to a city from a small town we have been very pleasantly surprised by how much Plymouth feels like the world’s largest village.
Easy to navigate around and being based in the Barbican area of the city we genuinely have the best of everything within walking distance of our front door.
We can cross the road and enjoy all the fantastic variety of pubs, bars and eateries that are on offer along with some lovely little quirky shops. A few minutes’ walk takes us to the Hoe with the stunning Smeaton’s Tower and breath-taking views across Plymouth Sound and Fireworks when the festival is on in August … a personal favourite of ours. In the other direction is the city centre with more than enough shopping and entertainment including The Theatre Royal, Drake Circus, The Box, The Pavilions and The Barcode to name only a few.
A short ferry ride from the Barbican makes both Mountbatten and Cawsand easily accessible and good to escape to when it is busy in the holiday months, in addition to the Royal William Yard where the monthly food, craft and produce market is not to be missed.
Working for Plymouth’s number one Estate Agent, Cross Keys, has certainly helped me to find my feet and my way around as well as meeting a fantastic bunch of people who I am proud to call friends as well as colleagues.
Estate Agency was a new direction for me and there are some great aspects of the job not least meeting a wide variety of people on a daily basis and helping them with the next chapters in their lives, whether they are upsizing, downsizing or just stepping onto the property ladder for the first time, it’s so rewarding when they find their next home and helping them through the process to make it enjoyable rather than stressful, it’s a great job.
We have settled so well into our new life and feel incredibly lucky to live in such a vibrant and diverse part of the country beside the ocean and welcome many visitors from the North who now think we are less crazy for moving here as they always enjoy their stays in such wonderful surroundings.
