Julie Gordon, Head of estate agents Gordon & Rumsby provides an overview of the property market in Colyton, Devon.
Colyton is a beautiful town at the heart of the Coly Valley, with a history that dates back to the Monmouth Rebellion of 1685. Among the properties for sale in Colyton, Bungalows tend to be very popular, due to the large number of retirees moving to the area. Just south of Axminster, the small town is close to the coast and also remains popular with holidaymakers and walkers.
Earlier this year, Colyton was voted as one of the top 20 places in the UK to raise a family due to its safety, childcare costs, affordable homes and green spaces. The schools here also have a very good reputation, with the very well respected Colyton Grammar School being the top choice for most parents. The grammar school used to draw families from far afield but since the downturn in 2007, we have seen fewer families moving here due to the lack of good jobs available in the town. Those who do are usually either starting their own business or are prepared to commute to London during the week.
The good news is that the market has been quietly improving over the past three years, although we are seeing activity at unexpected times of the year. For example, we saw a significant increase in property stock early in 2015, of which we sold the majority quite quickly, at prices ranging from £200,000 to £450,000. February remains our best month for sales so far this year.
However, as a result of recent sales, we are now very short of property stock, with little coming on to the market at the moment. Bungalows tend to be popular in this area due to the number of retirees moving here but with few coming to market at around £250,000, we have a shortfall in the right price range. The other shortfall is at the lower end with very few properties in Colyton valued below or around £150,000.
It is difficult to predict what will happen in 2016 but at the moment, we are expecting a similar year to this one, with little change in selling prices. We will not have the election dip to contend with, so hopefully we will enjoy a better spring and summer market, and with any luck we will have more property to market across all price ranges. What we would like to see is more stability in terms of price and activity. A steady market with prices holding fast but without significant rises would be helpful for us all.
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