Autumn Market Comments 2014

Autumn Market Comments 2014

Well that was some summer! Great weather and an extremely vibrant local property market. We had a tremendously successful summer with a large volume of sales. Trends continue to show a healthy number of applicants either wanting to retire to Brixham or purchase a holiday home. We are also now seeing more locals move within Brixham itself...perhaps the most activity for seven or eight years.

The market is still price sensitive and there is no hint of some of the price increases that London and the South East have experienced over the last eighteen months. Instead we have seen strong trading at sensible and reasonable prices with more and more vendors achieving nearer their asking prices. That was not the case in 2013 and consequently 2014 has to date been a more equal market between vendors and purchasers.

The new mortgage/lending criteria introduced in April has certainly kept in check any boom in price levels. We have had direct experience of some of our clients finding the new criteria limiting their aspirations. However, autumn has arrived and the market remains strong. Stock levels remain good and this is another factor that holds pricing at a stable pace. We expect a good October/November period and are very confident that Brixham will remain a choice destination.