Member Article

Eden reveals Brexit boost for Cumbrian property

Brexit is having a positive impact on the Cumbrian property market, with outside investors keen to purchase property in the county, according to leading Penrith estate agents Eden.

Latest statistics from the family-owned firm show 54% of its properties have been snapped up in the past year by buyers from elsewhere in the UK, or from further afield.

Recent purchases have come from as far away as the Cayman Islands, Dubai, Germany, Thailand and Abu Dhabi, with enquiries also coming from California and Iraq. Meanwhile, vendors who live in Canada and the Orkney Islands have also chosen to put their second homes in Cumbria on the market with Eden.

Eden Sales director Helen Miller, said: “We’re certainly not seeing a slowdown in the Cumbrian property market as a result of Brexit. The reality on the ground is quite the opposite, and our valuers and sales advisors have been incredibly busy in recent months.

“Buyers are coming from all corners of the globe, with people keen to buy in Penrith, the Eden Valley and North Lakes for a combination of reasons. Many buyers are relocating here for work, some are investing in holiday homes so they can spend more time in this beautiful part of the world, and others have decided to purchase so they can be closer to their family.”

Such is the demand for property in the area that Helen and her team have secured sales within days or just a few weeks for a number of buyers.

Helen added: “We have every type of property in our portfolio, and also through working with the Fine & Country brand, from first-time buyer homes, which are more likely to be sold to individuals, couples and families who already live in Cumbria, through to million-pound plus properties, which are proving popular with affluent families from the south and abroad.

“We’re finding those from abroad who have been thinking about buying here for some time have decided now is the right time, particularly given the current price of the pound. Currency fluctuations can make a huge difference for foreign property investors.

“It is vital to get the marketing of a property right, whether it is a one-bedroom apartment, or a six-bedroom country home. Targeting potential purchasers from across the UK and the world is an important part of that. We make sure our vendors’ homes are put in front of the right buyers, no matter where they might be.”

Eden was launched in 2005 by Helen, who grew up in Penrith, as well as her husband Nick. The firm has recently undergone a six-figure investment in both its premises and staff.

This was posted in Bdaily's Members' News section by Fiona Brook .