Yahoo, 11/08/2025

Why there’s never been a better time to downsize

Quoting Ed Jephson of Stacks Property Finders

Ed Jephson, of Stacks Property Search, shows how the numbers can work in the favour of downsizers from London or the Home Counties, even if they need to discount their own property by 5-7pc to secure a sale.

“They can find properties in Devon reduced by up to 20pc, so the disparity is mitigating the disadvantages of downsizing in a falling market,” he comments. “The reduction in prices and increase in availability is opening up the market to owner-occupiers. There’s more property on the market in the £750,000-£1.5m bracket in Devon than for over a decade and there’s an excellent supply of smaller properties too.”

Furthermore, with over three-fifths (61.3pc) of all UK adults aged 65 and above owning property outright, according to official figures, downsizers are likely to have significant property wealth at their disposal to overcome hurdles such as stamp duty and any necessary renovations.

Agents pinpoint Salcombe and Dartmouth as areas with record levels of second homes for sale Credit: Gavin Hellier/robertharding

Owner-occupiers aged 60-plus now hold an estimated £2.89tn of net housing wealth in homes worth a total of £2.95tn, according to Savills.

Jephson pinpoints the South Hams, which includes such holiday hotspots as Salcombe and Dartmouth. “There are record levels of houses on the market, a significant number of which are down to second home owners selling up. Many would have been snapped up by second homers at this time of year, so there are fantastic buyer opportunities opening up,” he says.

He cites Dart View Cottage – a detached three-bedroom house overlooking the River Dart in Dittisham – as a prime example, its price reduced by £250,000 to £1.25m through The Coastal House estate agency.

 

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