The TQ postcode including much of the South Hams, Torbay and Teignbridge saw 84 property sales over £1 Million in the last 12 Months

With sales prices reaching as high as £3.5 million, the area is positioned number 39 across England, Wales and Scotland as having the most amount sales over the £1 million price point.

The latest research by Property Solvers has revealed that there were 84 residential home sales with a value of over £1 million pounds across the Torquay (TQ) postcodes from September 2021 up to September 2022.

Using HM Land Registry sold house price statistics, the home buying company and local auctioneer reported the total value of these sales arrived at £126,428,258. Relative to the same period in 2020-21, this represented an decrease of 43 per cent (from £195 million).

In terms of number of properties sold, this puts Torquay in position number 39 across England, Wales and Scotland - above Ipswich and below Stockport.

Below are some of the most expensive properties sold over the last year:

New Road, Stoke Fleming, Dartmouth, TQ6 0PH

£3,500,000

South Town, Dartmouth, Devon TQ6 9BU

£3,050,000

Warren Road, Thurlestone, Kingsbridge, TQ7 3NT

£2,550,000

Rectory Lane, Dittisham, Dartmouth, TQ6 0HD

£2,500,000

Fortescue Road, Salcombe, Devon TQ8 8AP

£2,170,000

Speaking on the data, co-founder Ruban Selvanayagam: “although there remains a fairly healthy volume of sales in this price bracket, such a pronounced drop would suggest that buyer appetite for these types of homes is decreasing.”

“£1 million+ properties - even for the wealthy - are major commitment and indeed affected by the wider economy,”  

“With continued inflationary pressures and rising interest rates as a result, it would not be too much of a surprise to see a continued cooling off across the high-end property market in the coming year at least,” he concludes.

https://www.propertysolvers.co.uk/homeowners-hub/market-insights/1-million-pound-houses/