The Peverell Property Market

Hello and welcome to the first (of many) Peverell Property market reports. In each report, we will look at what is happening to the property market in Peverell on a month by month basis. As it is the first market report, let us look briefly at its history, because when I visit the area, some residents still don’t know it’s interesting history.

The area of Peverell was originally part of the manor of Weston Peverell, and is named in the Domesday Book. Two of the main roads are named Peverell Park Road and Weston Park Road. The area now consists mostly of Edwardian terraced houses (built between 1901 and 1910), but also includes schools and a number of churches. Peverell borders Central Park, often known as "the green lung" of Plymouth which is a very popular recreational area for Plymothians.

Peverell is seen by residents as a safe solid and central area with good quality housing stock and few social problems. The terms on which the land was sold for development at the turn of the twentieth century stipulated that no pubs, should be built on the land, as the seller was a strict abstainer. This has resulted in the district having a residential atmosphere, with very few problems.

 So what of the properties? The standard property in Peverell is the lovely square bay fronted Edwardian terraced. Over the last 3 months, they have sold within a vast price between £157,000 and £250,000; depending on size, extensions (both up and downstairs) and condition. Interestingly, only five apartments have sold in the whole of the last 12 months, with the two beds (built in the converted properties), selling for around £110,000 (+/-£5k depending condition).

At the time of writing this report, there were 94 properties on the market, of which 40 of those 94 had a buyer, making 42.5% of Peverell properties on the market sold subject to contract. When comparing to Plymouth as a whole only 1,399 of the 3,446 Plymouth properties had buyers, or 40.5%.

With regards to the people who live in Peverell, there are 7,476 residents living in 3,138 households.  You might be interested to know that 21.7% of properties in Peverell are rented (or 682 households to be precise). In forthcoming reports, I will be discussing the rents that can be achieved, how property values have changed and how the property market in Peverell compares to the rest of Plymouth’s.