View from Topsham – a safe haven?
AS the warm glow of Christmas rapidly fades to a distant memory, we property experts are taking stock of 2012 and casting a hopeful eye across the 2013 horizon.
Fortunately for us, the East Devon property market is a symbol for all that is well in the world.
A limited supply of property combined with an increase in chain-free cash buyers has ensured property prices have remained stable.
East Devon remains a desirable place to live and many properties, given time, still achieve prices within expectation. However, of the areas we service, there is one small town that consistently outperforms its neighbours in the property stakes.
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When it comes to the old adage "location, location, location", Topsham regularly tops the list.
Nestled on the banks of the River Exe, and with an extensive array of local amenities, great accessibility and a lively community spirit, it's easy to see the attraction of this historic trading port.
Property stock ranges from ex-council houses to traditional period properties, modern townhouses and waterfront mansions, which means there is something to suit all tastes, although not necessarily all budgets.
The desirability of the location coupled with the fact that few people who move to Topsham ever leave, means that property prices have remained reasonably buoyant.
Indeed, a select number of premium properties in prime waterside locations smashed through already eye-watering asking prices in 2012 to achieve sale prices in excess of six figures.
Nevertheless, even in Topsham, many properties are taking longer to achieve proceedable offers than was the previous norm. Whereas once we could easily expect 20 viewings a month, some properties are now getting only four viewings in the same period, but interestingly those viewings tend to be much more productive.
Provided clients are patient, we are not generally seeing a need to drop prices. This, in part, has been thanks to the highest ever percentage of cash buyers looking to invest in a safe haven where they can rent their property for reasonable returns.
For them, Topsham fits the bill perfectly. The rental market here is the strongest we have ever seen.
After just three years, East of Exe is expanding with the addition of our Southernhay Office, enabling us to offer even greater depth of service throughout Exeter and East Devon.
But Topsham will always have a special place in our hearts. For more information or to view East of Exe properties to buy or rent, visit www.eastofexe.co.uk or telephone 01392 877240.