Well, the post Brexit bubble has definitely popped; the fatigued market has been awoken and spring is around the corner. We predicted that there would be a bounce back after the general election and we were not wrong. We have seen record breaking numbers of valuation for January and so far, February is also on track to beat all previous years.
Family houses are still the most in demand and we simply can not get enough of them, larger period family properties are proving to be a big hit as well as buyers looking for the larger size accommodation that builders have not been building for many years. Traditional is best and remains head and shoulders above modern new builds.
First time buyers are hot on the heels of families when it comes to buying three or four bed houses and the up-take form the under 30’s is a fantastic sign that 2020 will be a very good year for the housing market.
Currently there are over 500 flats and apartments available online to buy in the Plymouth area. This is having a bit of a knock-on effect for onward purchases and some sellers are now looking at renting their properties out in order to be in a position to buy on. New home builders are offering so many large incentives to entice buyers to purchase their leasehold new builds that the second hand property sellers cannot compete with this and unless they look at more competitive pricing on these homes they are remaining on the market for prolonged periods of time.
With all the new build student properties being built and with Plymouth University encouraging all first, second and third year students to use these over the traditional Victorian and Georgian house shares that are in the locality, we have seen an increase in older HMO’s (Houses Of Multi Occupancy) coming to the market. As these are no longer filled to capacity, sometime only having 50% occupancy rates, families are considering buying these city houses and refurbishing them back in to lovely family homes.
Here at Cross Keys Estates we have taken on larger numbers of higher end and fine homes since the general election than in previous months. This tells me that the market had been stagnated by the indecision of Brexit, indeed the forecasters are telling us that initial signs of an independent United Kingdom are good. Cross Keys has had its fingers crossed that this would be the case and it looks to be so.
The North of Plymouth is becoming increasingly popular with buyers now, as the end of the road improvements and the Derriford roundabout widening scheme have been completed for the higher levels of commuting traffic from the Woolwell, Roborough and Tavistock areas. Having Border Terriers, I love going out on the moors for walks and this has been made so much easier now and I can see the attraction of buying here. The new eco village is almost complete, many of our resale homes are being snapped up within days of them coming to the market.
Finally, I have to say a big thank you to all of the Cross Keys Estates customers that left reviews for us on www.allagents.co.uk ranking us the “Best Estates Agent in Plymouth” again, and also the “Best Estates Agent in Devon” and the “Best Estates Agent in The Southwest” As if that wasn’t enough, we also won the award for the “Best Letting Agent in Plymouth”as well. It has been the best start to the year that we could have wished for and we are really looking forward to what this year may bring.