The West Country property is seeing a degree of underlying resilience, despite a complex and evolving economic backdrop.

While global uncertainty has intensified in recent months, the position across Devon, Cornwall, Somerset and Dorset remains broadly steady, supported by consistent demand and the enduring appeal of the region’s lifestyle offering, writes Ben Stephens, partner at Stags estate agents.

The Bank of England interest rates remained at 3.75%, following the April meeting, providing a measure of certainty for borrowers. However, wider economic pressures have begun to re-emerge.

Ongoing conflict in the Middle East has contributed to rising energy prices, which in turn has placed pressure on inflation, currently standing at 3.3%. These factors are naturally influencing buyer behaviour, although they have yet to significantly disrupt market activity.

Against this backdrop, the housing market has shown stability. Activity levels have remained steady across much of the region, with buyers demonstrating a measured and considered approach.

Affordability remains key, and pricing strategy continues to play a critical role in securing successful outcomes. Properties marketed at realistic levels are generating interest, while those positioned above current market expectations are seeing longer marketing periods.

Encouragingly, there are positive indicators emerging as we move further into the year.

Average new seller asking prices have increased by 0.8% to £373,971, according to Rightmove, reflecting a level of underlying confidence among sellers.

At the same time, Stags has seen a year-on-year rise in the number of applicants registering to buy, with more than 1,400 registrations in May alone, indicating that demand remains strong and engaged.

Looking ahead, the outlook for the West Country property market is cautiously positive. For buyers and sellers, a pragmatic approach will be key. In a more balanced and price-sensitive market, those who align expectations with current conditions are best placed to achieve results.