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AUTUMN REVIEW

During the summer months following “Brexit” there have been many mixed messages relating to the property market.  The word on the block in South Devon is that the market has largely been un-affected with activity levels being on a par or indeed ahead of those expected during the traditional holiday month of August.  Jonathan Bye, director of Eric Lloyd & Co, can report that the number of sales agreed during August this year showed an increase of over 15% when compared to August 2015.  This continuing strength is reflected by figures just released by Rightmove reporting property searches at record highs with a 13% increase in visits year to date to Rightmove  Every month from January to July Rightmove has had more visits than in the same month in 2015.  Investment and holiday/second home buyers are now also returning to the market following the changes to the stamp duty regime made earlier in the year.  During August, Eric Lloyd & Co, agreed several sales to investment purchasers and buyers seeking a holiday home in the bay.  Predicting the property market is always a dangerous game, but current activity levels would indicate that the market is likely to remain steady over the coming months.  Key is a continuing flow of new listings to the market.  Eric Lloyd & Co has seen a healthy increase in the numbers of properties being listed in the first three weeks of September as compared to the same period last year.  Jonathan commented that “the residential property market in South Devon appears to be largely unaffected by the current political uncertainty, however as winter approaches setting a competitive asking price is likely to become more critical.”

 

      

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