Spring!
Spring will never be so welcome as it is this year. The first fresh buds and early spring flowers herald what we all hope is a good summer when life can emerge from the past months of forced hibernation. At the time of writing this in January the future is still unclear as to how long Lockdown 3 will last. We will emerge - hopefully all safely and look forward to brighter summer months.
It is difficult to predict the property market and the long-term effect of Covid-19. 2020 saw unprecedented numbers of people looking to buy away from the cities. Devon –as well as Dorset and Cornwall- saw a massive increase in demand from those looking to move entirely and those buying second homes. With a smaller stock of properties coming to the market this inevitably drove pieces upwards. Whether increasing prices are sustainable in a climate where the economy is experiencing the biggest recession in decades is debateable. The divide between those with substantial cash funds and those struggling to make their funds go round is increasing. Devon relies heavily on the tourist business which has taken the biggest hit so on the one hand property values are soaring whilst on the other the local economy is struggling.
The Government is assisting wherever possible. The national debt is mind blowing and growing. Sooner or later it is payback time so will we see the property market stall and values shrink? These are unchartered waters so who knows! I suspect it will vary from region to region.
There will always be a property market at some level and lives go forward with needs to upsize, downsize or just move to a new area. One thing we have learned is the social value of home.
So, from cottage to castle (maybe) what is out there to buy?
The Old Kennels on the 350 acre Rousdon Estate on the East Devon/Dorset border. A Grade 11* stone 4 bedroom residence virtually rebuilt in 2004, set within an attractive courtyard with holiday cottage and studio, enjoying good views from the gardens towards the sea. Humberts (01404 42456)
Raddon House. Thorverton, in the favoured Exe valley 7 miles from Exeter. Detached five bedroom house with southerly view across its 2 acre paddock. Perfectly locate village family house for access to the independent schools in Exeter and Tiverton. Strutt and Parker (01392 215631)
Harrowbeer Country House, Yelverton. A charming former farmhouse dating in part back to the 17th century in an unspoilt tucked away lane. Currently run as a country house guest house but equally a charming family home, with annexe and further ancillary accommodation. Lifestyle opportunity to enjoy life in the Dartmoor National Park yet enjoy access to the coast. Mansbridge and Balment (01822 42456)
So, what is home? An investment in financial terms maybe but far important is the security of your own space in an ever-changing world. Put the two together and home becomes invaluable - It’s all about coming home.