James Baker, Head of Agency in our Exeter office, looks at why property in Devon has always been in demand.

As the third largest county in the UK, Devon has always been a special place for people in Southern England because of the variation and natural assets of the area. From the beautiful coastlines, vast moorlands and charming market towns through to the historical landmarks and serene rural lifestyle there’s something for everyone.  With a growing local economy, high employment rate and high quality of life, it’s no wonder Devon has seen an increase in popularity amongst families, retirees and young professionals alike.

Past to present

Property in Devon has always been in demand, and was still enjoying a busy market ten years ago in 2004. Over the last decade, property has continued to increase in value (except during the expected fluctuations during the economic uncertainty of 2008) but as of now, house prices have risen by 15-25% over the last ten years. This positive change in house prices correlates well with the overall change in demographics that have come thanks to the healthy job market of the region, the strength of the local economy and strong transport links. Today it’s not only families and retirees that have come close to the sea; young professionals and students now consider Devon as a viable option, and with a more affordable cost of living than major cities it makes perfect sense.

What’s changed?

So why has property in Devon enjoyed such success? In 2004, everyone was buying homes in the country, but now it’s all about the coast. The sea air, the history and the vast moors are an attractive prospect for those who have had enough of the city life, especially those looking to retire. In fact, there has been a shift towards more homes being bought by those looking to settle down, which usually follows a period of renting.

The way that the properties are sold has also had an impact on the overall visibility and viability for people that seek to live in the area – one of the things that has changed the most from us as property consultants is the way in which we have been selling properties. The Internet now contributes between 80 - 90% of our property sales in Devon as potential homeowners can get all the information they need to seriously consider a new home.

Looking forward

So what does the future hold for Devon? We predict that there will be a continued rise in the market which will eventually plateau in a year or two. In the meantime, the historic town of Exeter is likely to go from strength to strength and further cement itself as one of Devon’s most developed and important locations. Together with the Exeter International Airport, the M5 motorway and strong rail links, this historic city will continue to breathe life into the wider are and put Devon on the map.

If you want to know more about Devon, we have put together a comprehensive area guide to outline the key towns, transport links, education facilities, house prices and anything else you would want to know.