Dominic Agace, Chief Executive of Winkworth, reveals in the latest episode of its Property Exchange podcast, that prices in homes by the coast have gone up over the past 10 years by 50 per cent. He said: “Compared to a rural location, that’s a huge increase, being driven by lifestyle desires which are becoming more and more important to people. The houses with sea views are generational houses. People who have them hang onto them. Someone I know whose mother had passed away did exactly that. She had owned a beautiful 17th century house and a bungalow with a view over the sea in Cornwall. The family sold the period house and kept hold of the bungalow, which had been owned by them for generations.”
According to Richard Blake, who runs Winkworth’s Torbay and Dartmouth offices, Brixham has seen the biggest price rises in the South-west.
He told the podcast: “Brixham is the new cool place. Historically, it has been more affordable than Dartmouth. We have lifestyle buyers who are moving lock, stock and barrel to the area and those who purchase second homes for their families and as holiday lets when they’re not using them. Brixham is one of the country’s busiest fishing ports and has a harbour surrounded by hills. The town is full of pavement cafes, and pretty boutiques while still being a working resort. There is also a fantastic marina. Two-thirds of the properties are lived in full time – so there is a proportion of second homes, which is important to the local economy, local tradespeople and the shops.”
Those looking to move could find a lock up and leave pad from £200,000 in Brixham. Homes with sea views can be anything from £2m to £5m along the coast. Richard Blake added: “People moving to the area don’t downsize if they’re moving from London, their money will buy whatever they want in Torbay, and will go far in Dartmouth and the South Hams. “We have had a huge supply issue over the past 18 months due to the high demand and I don’t see that stopping.”