Local agents have recently reported a dramatic increase in the amount of buyers from outside the South West region moving to North Devon.
According to the agents, many of the buyers are moving from London and the South East, the majority seeking a holiday home in a rural location. Webbers estate agents and Greenslade Taylor Hunt have each seen a rise in the number of out of area buyers heading to the West Country.
Richard Webber of South Molton estate agents Greenslade Taylor Hunt has stated that approximately 50% of all prospective buyers registering with the office in 2014 have so far come from outside the South West.
Out of that 50%, Richard reported that over half of these originate from London and the South East, with the majority of these types of buyers seeking larger, higher value rural properties, particularly within the £400,000 plus range. Greenslade Taylor Hunt has also seen a number of prospective purchasers fly in from overseas to view properties in North Devon.
Richard said: "We certainly are seeing more buyers from out of the area. Press reports of increasing house prices and six year high sales levels are being primarily driven by the London and South East market and it is from these areas that we are experiencing the principle increase in prospective purchasers.
"That ripple effect from the South East always takes a little while to reach North Devon and, whilst I do not feel that we have seen prices increasing in our area as yet, there is certainly more activity and confidence in the property market in general is undoubtedly returning.
"We are fortunate to be situated in an extremely sought after part of the country, with the South West and Devon in particular, still being one of the most desirable areas to live in the UK. Whilst we often take it for granted, we are blessed with a superb variety of countryside here in North Devon with many of the towns and villages also having retained that predominantly rural feel."
Webbers has also reported a dramatic increase in the number of London buyers seeking a suitable holiday home in the West Country over the last four weeks.
With Webbers seeing an 18% increase in London buyers on the same period last year, managing director Malcolm Prescott said: "As long as I have been practising in agency in the West Country, which is now almost 30 years, we have always seen and welcomed keen, affluent buyers from London and the South East.
"The early part of the year shows that our lovely part of the UK has lost none of its appeal, whilst we have large numbers of casual lookers, we have close to 100 active buyers looking for a slice of the West Country lifestyle.
"The vast majority of those buyers are looking between £5000,000 and £750,000 and the typical criteria would be a private country location with a period home in good condition with all the creature comforts."
Webbers is to join forces with Guildford based independent agents Seymours in the spring for their annual West Country exhibition, where local experts will be available to discuss the aspects of living in the South West.