Estate agents in Plymouth are seeing an increasing rise in demand for quality homes.
But how do you know when the time is right to sell your property?
In the last three months alone (up to August 2021), more than £175m worth of homes were sold in Plymouth.
According to Dataloft, the average price of a property in the South West is now £338,000 (July 2021). That is an annual increase of some 14% from August 2020.
Meanwhile, the average sale price of a home in Plymouth and the surrounding areas over the last 12 months is £219,468.
The main issue now is that there are not enough available properties to satisfy that demand. Saturation in the lettings market has led to people looking to buy rather than rent.
And the Covid-19 pandemic has forced many of us to re-evaluate what we look for in a property. Even with the end of the national lockdown, more and more people are still working from home.
The lack of need to commute means many now don’t need to live close to their place of work. Subsequently, people’s need to live in built-up areas has eased – meaning places like Plymouth are now even more desirable.
If you’re thinking about moving, here’s what house prices are doing in YOUR area.
Devonport, Stoke, Stonehouse
Do you live in the PL1 area of Plymouth?
In the last year alone, the average price of a property here was £213,647. That’s 5% up on the previous 12 months and 12% up on the 2018 peak of £189,989.
We have a huge waiting list of eager house-hunters wanting to buy a home in Devonport, Stoke and Stonehouse.
Flats are selling for an average price of £183,666, terraced properties for £244,159, and semi-detached homes for £257,889.
Compton, Crownhill, Devonport, Efford, Eggbuckland, Ford, Ham, Hartley, Honicknowle, King’s Tamerton, Laira, Manadon, Mannamead, Mount Gould, Mutley, Pennycross, Peverell, Plymouth, Stoke, Weston Mill
If you live in the PL2 area, chances are your home has increased in value by 7% in the last 12 months.
Covering a huge area of Plymouth, from Efford to Weston Mill and Mutley to Crownhill, properties here had an average price of £174,786 over the last year.
The majority of sales during this period were terraced properties. These sold for an average price of £168,364, while semi fetched £202,521 and flats £104,270.
Compton, Crabtree, Crownhill, Efford, Eggbuckland, Ford, Ham, Hartley, Honicknowle, Leigham, Longbridge, Manadon, Mannamead, Pennycross, Peverell, Plymouth
Properties in the PL3 postcode have increased by a whopping 15% in the last 12 months.
Properties in places including Eggbuckland, Hartley and Peverell had an average selling price of £252,884 during the last year.
Most sales were terraced homes (£236,236), followed by semi-detached properties (£263,973) and flats (£160,601).
Compton, Efford, Laira, Mannamead, Mount Gould, Mutley
A steep rise in demand for quality homes in Plymouth has helped to drive up property prices across the city. That includes residential locations like Compton and Mannamead.
In PL4, the average price of a property was £171,609 in the last year. That’s 7% up on the previous 12 months and 8% up on the 2018 peak of £158,972.
Most sales here during the last year were terraced properties. These sold for an average of £192,775, while flats fetched £123,474, and semi-detached homes £176,000.
Barne Barton, Bere Ferrers, Crownhill, Ernesettle, Ham, Hartley, Honicknowle, King’s Tamerton, Lopwell, Manadon, Pennycross, Southway, St Budeaux, Tamerton Foliot, Weston Mill, Whitleigh
In the last 12 months, properties in PL5 had an average price of £174,089. That’s 4% more than the previous year and a whopping 15% up on the 2018 peak of £151,544.
The majority of sales here were terraced properties (£159,936 average). Semis sold for an average of £176,260, and detached homes fetching £322,222.
Bickleigh, Chub Tor, Clearbrook, Crownhill, Derriford, Eggbuckland, Estover, Glenholt, Hartley, Hoo Meavy, Leigham, Longbridge, Lopwell, Manadon, Milton Coombe, Pennycross, Plym, Roborough, Southway, Tamerton Foliot, Whitleigh, Widewell, Woolwell
Properties in the PL6 area – including Derriford and Roborough – had an average price of £235,721 over the last year. That’s 5% up on the previous 12 months and 6% up on the 2018 peak of £223,220.
Most sales were terraced properties, selling for an average price of £163,918, while detached homes sold for £375,455, and semis £235,442.
Bickleigh, Chaddlewood, Clearbrook, Cornwood, Crabtree, Drakeland Corner, Hemerdon, Hoo Meavy, Lee Mill, Lee Moor, Leigham, Longbridge, Lovaton, Lutton, Plym, Plympton, Shaugh Prior, Smithaleigh, Sparkwell, Underwood, Venton, Wotter, Yondertown
Plymouth estate agents like us are being approached by huge numbers of buyers wanting quality homes – with areas like Plympton proving EXTREMELY popular!
Now is the perfect time to sell your home, with properties in PL7 having an average price of £244,760 in the last year – that’s 7% up on the previous year and 13% up on the 2018 peak of £215,921.
The majority of sales during that period were semi-detached properties (£221,240) followed by terraced (£202,659) and detached homes (£355,536).
Blackpool, Bridgend, Brixton, Cofflete, Combe, Dunstone, Elburton, Ford, Holbeton, Langage, Lee Mill, Luson, Membland, Mothecombe, Newton Downs, Newton Ferrers, Noss Mayo, Smithaleigh, Spriddlestone, Torr, Underwood, Westlake, Worston, Yealmbridge, Yealmpton
We have a HUGE waiting list of eager house-hunters wanting to buy a home in the South Hams.
In PL8, the average price of a property over the last year was £497,800 – 4% up on the previous year and 13% up on the 2018 peak of £440,003.
Most sales were detached properties (£622,930) followed by semis (£349,043) and terraced properties (£350,809).
Barbican, Billacombe, Cattedown, Cofflete, Combe, Down Thomas, Elburton, Heybrook Bay, Hollacombe Hill, Hooe, Knighton, Laira, Manor Bourne, Mount Gould, Mutley, Newton Ferrers, Oreston, Plymstock, Pomphlett, Spriddlestone, Staddiscombe, Turnchapel, Underwood, Wembury, West Wembury
It’s no surprise to us that Plymstock was named as one of the top three locations in the UK for home sellers in April 2021.
Since the start of the year, we’ve seen a large rise in buyer demand across Plymouth and the surrounding areas.
That increase shows no signs of slowing down – especially in the PL9 postcodes where properties had an average price of £281,482 over the last year. That’s 5% up on the previous 12 months and 8% up on the 2018 peak of £260,055.
The majority of sales were semi-detached homes (£242,230), followed by detached (£365,234) and terraced properties (£234,598).