House prices in the South West have risen by 74% over the past 20 years, according to recent data from Zoopla.
For homeowners in and around Plymouth, that means the value of your property could be significantly more than you think.
At Lang Town & Country, we’ve been helping people buy and sell homes in Plymouth for more than 30 years. We work with homeowners at all stages of life – from first-time buyers to seasoned investors, growing families and those looking to downsize.
One of the biggest questions we’re hearing right now is: “Should I unlock the value in my home?”
And it’s a great question!
Whether you’re approaching retirement, looking to ease the pressure of the rising cost of living, or hoping to help your children or grandchildren take their first step onto the property ladder, releasing equity from your home could make a big difference.
Paul Preen, Managing Director at Lang Town & Country, explains: “There’s a growing number of people in Plymouth who are property-rich but cash-poor.
“We’re regularly contacted by homeowners who are pleasantly surprised when we tell them what their home is now worth. That equity can be life-changing – whether you choose to invest it, enjoy it, or share it with loved ones.”
So, how do you know if it’s the right move for you? In this blog, we look at the benefits of unlocking the true value of your home.
A Shift in Priorities
The past few years have changed the way many of us think about our finances and our future.
Inflation, energy bills and higher interest rates have prompted many homeowners to look again at their monthly outgoings and long-term goals.
For those living in larger homes with unused bedrooms or higher maintenance costs, downsizing is an increasingly attractive option. Some want to reduce their mortgage burden or monthly bills. Others are keen to move somewhere more manageable or better suited to the next phase of life.
We’re also seeing more families using property wealth to help the next generation. With house prices continuing to rise, deposits remain a huge barrier for first-time buyers – so many parents and grandparents are choosing to release funds to give their children a head start.
Here are 10 reasons you might be ready to downsize your home.
What Does 74% Look Like in Real Terms?
In 2005, the average South West home was valued at around £179,300. Today, that average is closer to £312,000 – a rise of more than £132,000 in just two decades.
But in many sought-after areas of Plymouth and its surroundings, the increases have been even greater.
What this means is that even if you haven’t made major improvements to your property, the chances are it’s now worth significantly more than when you bought it.
Paul says: “Most people check in on their savings or pensions regularly, but very few keep track of their property’s value.
“That’s where we come in. A simple, no-obligation market appraisal can give you a much clearer picture of your position – and help you explore your options.”
Downsizing Doesn’t Mean Downgrading
One of the biggest misconceptions around downsizing is that it involves giving something up. But in many cases, it’s quite the opposite. We regularly help people find beautiful, energy-efficient homes that are more practical for their lifestyle – and often in better locations too.
Modern developments, smaller cottages, coastal apartments or bungalows are all popular choices, depending on your priorities.
For some, it’s about being closer to family or healthcare services. For others, it’s the appeal of a low-maintenance garden or an easy walk into town.
Whatever your reasons, our Lang Town & Country team can help you find the right fit – and guide you through the process with expert advice every step of the way.
A Strong Local Market
The Plymouth property market remains robust. Demand for quality homes continues to outstrip supply, and well-presented properties in the right areas are attracting strong interest.
If you’re thinking about making a move – whether to downsize, relocate, or explore what your home could be worth – this is a good time to speak to our team.
“Our local knowledge means we know what buyers are looking for and where demand is highest,” says Paul.
“We can give honest, informed advice to help you maximise the value of your home and make your next move with confidence.”
Ready to Explore Your Options?
If you’re wondering what your home is worth, curious about the benefits of downsizing, or thinking about how to make your property wealth work for you, Lang Town & Country is here to help.
We offer free, no-obligation market appraisals so you can understand your property’s true value in the current market. There’s no pressure and no commitment – just clear, honest advice from a local team you can trust.
Book your free no-obligation valuation today. We look forward to hearing from you.
Plymouth Sales – 01752 256000 / Property@langtownandcountry.com
Plymstock Sales – 01752 456000 / plymstock@langtownandcountry.com
Waterside – 01752 200909 / Waterside@langtownandcountry.com
Lettings – 01752 201010 / enquiries@langtownandcountry.com
Land & New Homes – 01752 278499 / newhomes@langtownandcountry.com
