‘More for your money’ in South Molton
HOUSE prices in South Molton soared 10% in the last year, but it’s still one of the most affordable places to live in North Devon, according to statistics.
An analysis of sold prices over the last year, sourced from the Land Registry, shows that values in South Molton were 10% up on the previous year, yet it is still a more affordable location than its neighbouring towns.
The sold prices, which were analysed by premier house builder Elan Homes, reveal South Molton, with an overall average price of £206,122 was more affordable than nearby Chulmleigh (£238,629), where prices rose 15% over the last year, and Umberleigh (£297,743), were prices were up 5% on last year
The majority of sales in South Molton during the last year were detached properties, selling for an average price of £260,136. Terraced properties sold for an average of £151,436, with semi-detached properties fetching £202,028.
Sales director for Elan Homes in the South, Andrea Nippe, said: “By thoroughly examining house prices in neighbouring towns, this demonstrates the affordability of South Molton and supports the reason why so many people are choosing to make the town their home.
“House prices in the area have also seen a really strong ten per cent increase in the last year, further evidence of the robustness of the local property market.”
Elan Homes is creating a new development in South Molton, Elan @ The Gateway, which is located between Parsonage Lane and Station Road on the northern side of the town.
Phase two is now underway at the 20-acre development, which will eventually be a community of 150 brand new two, three and four-bedroom properties with some boasting stunning views across the open field towards Exmoor.
Elan @ The Gateway will offer a fantastic lifestyle to residents, with access to footpaths and woodland close by as well as an excellent range of schools, shops, cafés and leisure facilities on its doorstep.
Andrea added: “Our current availability at Elan @ The Gateway includes competitively priced four-bedroom detached properties, which offer all the advantages that come with being a newly-built property, such as greater energy efficiency, modern kitchens and bathrooms as well as less maintenance.”
Visitors to Elan @ The Gateway can experience the lifestyle on offer by viewing the Belvoir show home. With prices for this house style starting at £264,995, this charming detached family home is certainly competitively priced with other detached homes in the local area and has all the benefits of being brand new.
Help to Buy is also available bringing home ownership or a larger property within reach for more people. It enables buyers to take out an equity loan for up to 20% of the purchase price, with the remainder covered by a 5% deposit and a 75% mortgage from their lender of choice.
To find out more about the homes available at Elan @ The Gateway, the marketing suite and show homes are open Thursday to Monday 10am to5pm. Alternatively call 01769 574 581