Following its expansion last year, buying agency Black Brickis issuing a clear message to buyers and investors that now is the time to invest in the West Country.
Anna Sharp, who leads Black Brick’s Country & Coast division in Cornwall, comments: “For those thinking about investing in or relocating to Cornwall, this is a prime opportunity. We’re advising our clients to act now, before the market sees a renewed surge in demand. Right now, we’re in a rare moment where the buyer holds the power.”
According to Sharp, the prime property market in Cornwall has experienced a slowdown in demand, but this decline is not expected to last. “We’re seeing clear signs of pent-up demand, which is likely to be released as soon as there’s another interest rate cut,” she says. “When that happens, competition will return, and so will rising prices.”
Rupert Stephenson, Regional Director for Devon, Somerset and Dorset, explains: “The market is wide open for our clients at the moment; there are some great deals to be done for properties both on and off the market, while there is all the uncertainty both at home and abroad. Our clients see the West Country as a safe haven away from the hustle and bustle of city life.
“Despite this, there are still some standout cities, such as Bath and Bristol in Somerset, which both have good links to airports and London, and these areas will continue to perform well.”
However, he warns that changes to council tax and the removal of interest relief on second homes have severely impacted coastal towns like Salcombe in Devon and Poole in Dorset, making them prime areas for investors who are willing to negotiate.
Sharp adds: “We are negotiating some incredible deals for clients. Seller expectations have finally realigned with market reality. In some cases, vendors are highly motivated, which opens the door to once-in-a-lifetime opportunities.”
From cottages in Port Isaac listed for as low as £280,000 to a wide selection of properties across St Ives, the region is offering exceptional value for savvy investors and lifestyle buyers alike.
Sharp concludes: “We are in an all-time low for good quality, proceedable prime buyers in the South West, with estate agents actively seeking motivated purchasers.”
With relocation chains dependent on movement in the core market, a shift in interest rates could trigger a sharp uptick in activity.
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