Plymouth is attracting a broad range of buyers, reports email4property.co.uk, as terraced and semi-detached homes hold on to the top spot with modern homebuyers.
In spite of a recent influx of apartments in and around the city centre, the demographic of university students, retirees and young families in Plymouth has seen larger traditional style housing continuing to outperform newer property in price growth and sales.
Research by email4property.co.uk shows that terraced homes accounted for nearly half of all property sales in Plymouth in 2006 and this high number has continued into 2007. While the number of new apartments in the city is on the increase, the area continues to compliment the lifestyles of retirees and young families, which make up the bulk of its population.
The presence of one of the country’s largest universities has also led these figures, with buy-to-let landlords keen to take advantage of the city’s existing terraced and semi-detached properties that offer the ideal solution for large groups of students.
The added benefit of Plymouth’s proximity to the cost has made it a possible destination for holiday lets for those looking for a weekend retreat by the sea. Traditional terrace cottages on the outskirts of the city have continued to prove a popular choice for these second home buyers, many of whom have young families.
David Bexon, Managing Director of email4property comments: “Terraced homes are symbolic of the British way of life and British homebuyers still seem to favour a more traditional style of home. Plymouth has the ideal local demographic for these homes with a large number of retirees, and second-time buyers. Prices remain low in Plymouth in spite of a dynamic local economy and the benefits of its close proximity to the coast and other holiday hotspots.”
“Terraced properties, and to some extent semi-detached homes, present a property ownership cycle which keeps them in constant demand. They frequently provide a first or second step on the property ladder for young buyers, many of whom may return to these homes to downsize upon retirement or when children leave home.”