AT the end of last year, it was reported that house prices had seen the largest annual growth in six years.
Francoise Jackson, Bruton manager for Lodestone Property said,“Experts concluded this was down to tax breaks, stamp duty allowances and changing demand due to Covid-19.
“According to national estate agency figures, reported in The Sunday Telegraph at the end of 2020, last year saw a 90% increase in demand from house-hunters for country and rural town locations.
“As we move further in to 2021, fears that house prices would fall off the edge of a cliff after the surge of last year, have been put to bed, as the market sees continued demand for houses in popular areas of Somerset and Dorset.
“Although Bruton was the most searched for town in Somerset (according to Rightmove, 2020) last year, evidence shows that perspective buyers are also searching for property to both buy and rent in surrounding areas of Wells, Glastonbury, Frome and Bruton – all of which have risen to fame as some of the ‘trendiest towns’ in Somerset over the last decade.
“Rental property owners who once relied on all-year round tourism trade and events such as Glastonbury Festival have had to rethink their strategy at least until the end of Spring, as the UK remains in Lockdown 3. Thus, local property agents have seen a rise in short-term lets becoming available, meeting the demand for those in-between house sales and looking to ‘try the area before they buy’.
“Whilst there is no denying the majority of demand comes from outside of our two beautiful counties’, it’s important to remember that those looking to sell aren’t necessarily looking to leave this part of the world. People are moving to experience life in a different community, or be closer to family – two things that we have all come to crave over the past 12 months. It’s no wonder interest is rife.”
You can find more info about property sales and advice at www.lodestoneproperty.co.uk or contact Lodestone’s Bruton Office on: 01749 605099.