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Buying property in Devon fuelled by desire to relocate and upsize, says survey

By NDJDawn  |  Posted: April 29, 2014

Sue Bushnell of Bushnell & Green: Sue Bushnell says "moving to Devon is still a dream for many."

Sue Bushnell says "moving to Devon is still a dream for many."

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Top reasons for buying a property in Devon include relocation and upsizing, according to Savills estate agents.

 

A new map showing "prime property performance across Britain" revealed 43% of purchases in Devon are made for relocation, and 29% due to upsizing.

Savills' research also revealed that 64% of people buying property in Devon are from outside the area.

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Estate agents throughout North Devon revealed the most common reasons for buying property in the area, including retirement, seeking a holiday home, better location for families and upsizing.

Bushnell & Green in South Molton has seen a drastic increase in the amount of out of area buyers moving to Devon.

Sue Bushnell, director at the firm, said: "Interestingly, our figures support those of Savills exactly with 64% of buyers being outside of the EX postcode area.

"Moving to Devon is still a dream for many. We have a large number of retirees looking for a quieter pace of life as they get older and no longer need to be within easy reach of major population centres.

"Of course, those from London and the South East are enjoying a boom in property prices and their money goes so much further in Devon.

"Interestingly, we also have buyers, still in work, looking to bring up their families in a more traditional environment; with less crime, better schools and smaller class sizes.

"Many employers are able to offer flexible working, enabling them to be home based for much of the time and perhaps online in the office once or twice a month. Also part of this group we're seeing entrepreneurs moving their businesses or setting up new home based businesses in the local area.

"Usually at the top of the list for such buyers is peace and quiet, being on a busy road is not part of the 'Devon Dream'.They are often also looking for space, sometimes perhaps a generous garden and in some cases land. Being on the edge of a village is a frequent requirement, to the point we sometimes wonder if there will be anyone left in the centre."

Webbers estate agents is linked to over 600 independent agents across the UK. This allows the firm to refer outside of the area to help with national moves, but also provides a strong local connection.

Malcolm Prescott, managing director at Webbers in Barnstaple said: "Already this year we have handled a number of sales from clients who have relocated to our wonderful part of the country and the main reasons are just that.

"North Devon is a lovely place to live, semi-retire, retire and we are now once again seeing the return of the holiday home buyer; given the huge price increases in London and the South East Home Counties.

"We should also point out that there are more and more younger families choosing to live in the South West and commute to London as and when they need to. Modern methods of communication, high speed broadband for example, are making this a very attractive option, and what a better place to bring up your children."

Richard Douglass of Webbers in Bideford said: "Rightmove conducted a customer survey last year that came up with the statistic that 68.32% of enquiries from buyers using Rightmove looking in the Bideford area are from over 50 miles away, and just 13% were from the Bideford area.

"Looking at most of the other areas where we have offices, the figures were all in the 60% to 80% range, so it seems that the majority of buyers are from out of the area.

"Most of these are moving for lifestyle changes and retirement but less so for better paid jobs than where they are moving from.

"The fact that most are selling higher value properties means that they can afford a larger property here and bank some cash too, so I suppose you could say they are upsizing."

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