A number of things have changed - and changed forever - since the coronavirus pandemic hit the world. An increased desire to move has been one of the changes dominating the UK after the worst of the virus seems to seep away. One such place experiencing a spike in property interest is Devon.
Interest in properties in Devon has increased as city dwellers aim to relocate their businesses and set up shop in southwest England, full of sandy beaches, fossil cliffs, medieval towns and moorland national parks. Off the back of such a spike, new property businesses are popping up all over the country, just like Fastcashproperty which helps people find new homes and settle them in.
The pull of the English Riviera
There’s no wonder that people are wanting to live in the home of the English Riviera, a series of picturesque harbour towns including Torquay, Paignton and Brixham. Along the south coast, the towering cliffs of the northern Exmoor Coast adjacent to the fossil-dominated southern Jurassic Coast bring the beauty of the county into light. And, more people after lockdown are wanting a piece of that action.
How lockdown has increased interest
Local estate agents and national property portal giants have explained how two months of lockdown and the subsequent reopening of the housing market in the country has led the boom in home-searching in Devon. The coastal areas of Cornwall and Devon - along with Bournemouth in Dorset - have witnessed the greatest spark of interest, according to Britain’s biggest property website, Rightmove.
As the national property portal has reported a 20% increase in searches for the TR postcode of Cornwall, popular seaside locations like Falmouth, St Agnes, St Ives and Newquay are drawing more people in. Property website Zoopla recorded an 86% increase between early March and early May on searches for the TR postcode and a remarkable 126% rise for property searches in Devon’s South Hams.
Remote working has shown to be successful
Of course, it remains to be seen how people’s commutes may differ once lockdown is over. Some appear to be looking further out from their current place of work, especially if they can work from home for a few days a week as has been shown to be effective during the lockdown. This has, consequently, opened up the door to a number of new areas that they may well have never considered previously.
As such, because those searching for a new home have proved they can work out of the office, the South West offers a lot more for their money than London and the surrounding big cities.
With virtual meetings becoming the lifeblood of many an employer, remote contracts have been dished out like hot dinners with mid-Devon becoming particularly strong due to the fact that is under two hours from Paddington on the train and is therefore more accessible to those still commuting.
The pull of home offices, larger gardens and sea/beach views have proved a hit for those currently living in city flats encased by noise and air pollution from the constant flow - or in London’s case, standstill - of traffic.
Second-home buyers looking inwards
Naturally, the lockdown has also had another effect on those looking to buy a second home. Due to travel restrictions, such buyers are now scouring the market closer to home rather than the usual expat conglomerate of Spain or Portugal, with the so-called English Riviera throwing up all sorts of impressive abodes.
Estate agents must capitalise
With job losses standing at 600,000 in June, and an economy that shrank by nearly 21% in April, this kind of enthusiasm shown by potential buyers must be exploited by estate agents. Failing to capitalise could be disastrous, especially because such a spike in interest is unlikely to be maintained too far into the future.