The Town House
The property market is consistently cyclical. Dictated by financial fluctuations, the political stage and currently the Covid-19 pandemic, the market evolves -fashions change. Currently demand way exceeds supply, particularly for rural properties. “The Great Escape” from town to country has seen a mass exodus from the cities but I am convinced the tide will turn and the classic town house will once again become in vogue.
The term “Town House” dates back to the 18th century when wealthy landed families also owned a house in Town (London). It created the fashionable London Squares that still prove equally appealing in today’s society. It was socially acceptable to have a country and town lifestyle and as with many things life is cyclical with second homes once again common place. The Georgians didn’t have the complications of HMRC rules dictating one must be classed as a main residence for tax purposes giving the State a potential source of income from tax liabilities on second homes.
Planning rules are evolving whereby new applications for development in favoured towns in Cornwall and Devon will restrict new development to use as main residences only - ensuring some rebalance of local ownership maintaining an economy not wholly based on tourism.
Whether a classic London Town House overlooking a garden square or a period terraced house in one of Devon’s market towns they offer a lifestyle quality no modern house can replicate. Often on four or five floors the turned staircases provide exercise that makes up for the lack of much outside space! Whilst many of the larger properties have been divided into apartments over the years once again the cyclical social expectations see new generations restoring these lovely houses to their former glory as family homes.
1 Victoria Park Road in the fashionable St. Leonards, Exeter is a period Grade 11 late Georgian property that epitomises town houses of the period favoured by the merchants often connected to the then thriving port. The six bedroom accommodation has been brought into the 21st century with the addition of a contemporary kitchen wing overlooking the original walled garden. Knight Frank (01392 423111)
Pownes House, High Street Crediton is a classic Georgian Grade 11* imposing town house. The period, imposing façade leads to the gracious five bedroom accommodation retaining fine plaster work and ornate fireplaces - a hidden gem. To the rear is a south facing walled garden with two storey building with potential. Stags (01392 255202).
The Town House has seen a revival in cities with developers recognising the value of creating larger homes on tight footprints creating period homes with up to date convenience - home – “It’s all about coming home.”