Demand for Devon housing “far outstripping supply” as figures beat national average

Demand for property in the area is four per cent higher than England’s average.

By Chloe Shakesby   |   Property writer   |
Wednesday 29th June 2022 1:15 pm
@chloeshakesby
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Despite dropping 4% since last quarter, demand for housing in Devon remains above the national average. (Sam Healey on Unsplash )

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Figures released today have revealed that demand for housing in Devon is higher than the national average despite a four per cent dip.

Estate agent comparison site GetAgent analysed home buying trends, basing demand on housing already sold as a percentage of housing available.

Across England, demand for housing has dropped by one per cent since the last set of data, three months ago, averaging 63 per cent.

However, in Devon, the demand has been more significant, with a calculated 67 per cent demand - meaning that for every 100 houses put on the market in the quarter, 67 were sold.

The high figure is despite a four percent drop in houses listed being sold during the period.

Christopher McCaughey, of Devon estate agent Christopher’s South Hams, said: “Despite some negativity in the media regarding interest rate rises and the cost-of-living crisis affecting the property market, buyer demand in Ivybridge, South Brent and the surrounding villages certainly remains very high with demand far outstripping supply.

“Correct pricing strategies and professional presentation of people’s homes is still enabling Christopher’s South Hams to achieve some record prices in this beautiful area.”

Co-founder and CEO of GetAgent.co.uk, Colby Short, commented: “Despite wider economic turbulence, the property market has continued to perform very well so far this year and house prices remain at all time highs due to the imbalance between homebuyer demand and available stock.

“In fact, demand levels remain extremely high across the majority of the market and it seems that not even the threat of increasing interest rates and record levels of inflation can deter the nation’s homebuyers from their aspirations of homeownership.”

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