HOUSES in Ilfracombe are “flying out the door” as more and more people begin to invest in the area, agents say.
Prices are creeping up, high end investments are being made and more first time buyers are making their way onto the property ladder.
The average property price in Ilfracombe according to Zoopla is around £199,874, compared to £190,676 in 2012, and values have gone up 2.38 per cent in the last three months.
Robyn Houlford, sales negotiator at Turner Carr in Ilfracombe, said houses were “flying out the door” at the moment. She also said people from out of the area have been coming down and falling in love with Ilfracombe.
“Prices are going up,” she said. “And there are a lot more first time buyers being able to buy again. It is pushing up the market and things are picking up.”
Robyn said investment in the housing market had picked up since Christmas time.
“It is partly due to Verity but also because the seafront has been brought up to scratch and is looking fantastic,” she added. “If they could only bring the High Street up to match that.”
“A couple I recently sold a house to were looking to buy elsewhere, but saw one online, came to Ilfracombe to have a look round and fell in love with the place,” she added.
And Karl Seeley, manager at Bond Oxbourough Phillips in Ilfracombe, echoed this view but said local people are also finding it easier to get onto the market due to buy-to-let schemes.
He added: “A vast majority of property sold in Ilfracombe is to people out of area looking to relocate or buy second homes, but things are really starting to pick up for local people.”
Karl also said an improvement in businesses has helped the area become more attractive, but again said the High Street needs more investors to get rid of vacant shops.
District councillor Philip Webb said businesses and restaurants had echoed the view that more people were moving into the area.
He added they have never enjoyed such great success as they have in the last 12 months.
“Ilfracombe is remarkably good value,” he added. “A few years ago people still thought it was a bit down market, but not anymore.
“Now is a good time to invest because in five years’ time prices will be a lot higher than they are today.”