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EASTER REVIEW

Easter falls at a perfect time this year for a review of the first quarter of 2017 as well as looking ahead to the summer months.  Comparison with the same period last year is a little misleading as the market was significantly skewed at that time by a rush of buyers endeavouring to beat the deadline for the imposition of the stamp duty surcharge at the end of March 2016.  Jonathan Bye, director of Eric Lloyd & Co, is however pleased to be able to report that the residential property market in Torbay remains robust with sales levels, whilst not quite being at last spring’s record breaking levels, are comfortably ahead of the same period in 2015 which itself was a very successful year.  During March at Eric Lloyd & Co contracts were exchanged on a property virtually every working day across a wide sector of the market.  Jonathan commented; “This encouraging start to the year bodes very well for the coming summer months.  Activity levels remain high, with both new properties coming to the market and potential buyers arranging viewings.  Our pipeline of agreed sales is at a most encouraging level.  So far the triggering of Article 50 does not appear to have had any significant impact on the property market in this part of the country.  Torbay, with its improved transport links, remains a firm favourite for buyers seeking a change of lifestyle in the South West.”  Jonathan also commented that; “Whilst the stamp duty surcharge has had an impact on the buy to let and second home market, buyers are now returning to this part of the market as property remains an attractive investment providing a reasonable return on invested capital combined with the potential for capital appreciation.” If you are considering a move this spring call Jonathan and his team on 01803 852773 or 01803 844466.

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