As the incessant rise in London property prices seen in recent years slows in momentum, one of the key factors tying Londoners to the capital; the fear of getting off the London property market, has started to wane.
Consistent with this trend, a growing number of homebuyers are moving out of London and we are seeing growing interest in relocating to Devon in search of a new home.
Due to the vast disparity in prices the often-coined phrase ‘you can get more for your money’ becomes a momentous understatement. Take the popular south London area of Clapham; here your typical terraced house is likely to have 5 bedrooms, a study, a stylish kitchen opening out to a small garden and will probably cost you over £2 million.
However, relocate to Devon and this £2 million will purchase a significant detached country house with acres of gardens and grounds, out-houses, stables, swimming pool, tennis courts and fantastic views overlooking the sea or the rolling hills of Devon, or even both!
Moving out of London, but where should I start looking?
When relocating out of London many are now finding themselves looking beyond popular areas such as the Cotswolds and Dorset (due to property prices being relatively too high) – and looking in Devon, as it’s still within easy reach to London.
Devon is a change of lifestyle, but so many, people welcome this after decades living in the Capital. Whether you want a beautiful Thatched cottage or farmhouse, a seaside property with spectacular views, the opportunity to work on a more affordable project or get somewhere with land to set up a holiday business with yurts; Devon would be a fabulous place to settle down.
The benefits of living in Mid Devon
Setting into a new location in mid-Devon means Exeter is only about a 20-minute drive away and there is everything you need there. When you need to go to London, the train journey to Paddington is just over 2 hours. In addition, being in the middle of Devon you have easy access to both the beaches for surfing in North Devon and North Cornwall, as well as the beautiful Dartmoor and the fantastic areas of South Devon not too far away.
Devon property market
With house prices in London and other parts of the country cooling, the Devon market has most certainly not and we are finding more and more families are making the move out of London for a new lifestyle, whilst getting more property for their money.
A four-bedroom barn conversion around Exeter or a lovely thatched cottage on Dartmoor can cost anything from £400,000 depending on the size and location.
As a local property finder, I have a lot of knowledge of both on and off market properties, with or without land in these areas. If you would like to find out more about Garrington’s property services and how we can help you make a move out of London, please contact us.