The changing face of Plymouth’s property market. Planning to sell or buy? Why now is the right time. Pauline Anning, Solicitor at Wolferstans’ Plymstock Office advises.
The property market is a constant shifting scene. However, latest predictions are more positive than ever, forecasting a steady increase in house prices and stable market. Furthermore, Plymouth is now being put on the map as one of the emerging cities for property investment.Recent statistics forecast an average increase of 3% in UK house prices, with a 2% increase forecast for the South West. The favourable stamp duty changes, announced by the Chancellor last year in his Autumn Statement, seem to be boosting public confidence. This, together with a growing confidence in the economy and initiatives like the Help to Buy scheme, is leading to more transactions and an invigorated property market.The South West has been a very strong area for property investment in recent years. Now Plymouth is becoming a sound, popular area for those looking to enter the buy to let market. Due to a number of regeneration projects in Plymouth eg. Drake Circus, Royal William Yard and the newly proposed regeneration of Bretonside Bus Station, Plymouth has been quoted as being the ‘go to area in Devon’ for investment opportunities. Observers note that due to Plymouth’s slow progress in terms of its redevelopment in previous decades, it therefore retains even greater potential now for further development projects. Property professionals, and property investors, are therefore confident that the favourable market conditions are set to continue.Recent changes at Wolferstans reflect the upbeat predictions for the property market and economy generally. Our Plymstock Office’s residential property team has now expanded with Pauline Anning, Tishka Chapman and Stephen Havard now being based at Plymstock to provide experience and local knowledge to our growing client base. In addition to our Property Team we also have an expanding Wills & Trusts Team led by Melanie Cotterill. Other areas represented at our Plymstock Office include Family law and Commercial law. However, Wolferstans is one of Plymouth’s largest law firms and lawyers from all teams specialising in all aspects of law are happy to meet clients at its Plymstock Office if more convenient.If you have any legal enquiries, our Plymstock Office can be contacted Monday to Friday 9am until 5pm. Outside hours appointments, home visits and client parking are available. See our website at www.wolferstans.com or contact us on 01752 401515.