Market outlook for PL16
Key indicators for buyers
The PL16 market is moderately favourable for buyers. Prices have softened (-12.2%), which could present a buying opportunity. Affordability has improved from a peak of 12.8x in 2021 to 7.8x today. Rising rents (£836/mo, +2.1%) mean the cost of waiting is real.
Price trends
Yearly averages · HM Land Registry Price Paid Data
Prices by property type
2025averages · HM Land Registry Price Paid Data
Affordability ratio
House price ÷ median earnings · ONS data
Affordability data shown for wider West Devon area
A home in West Devon costs 7.8x the local median salary — moderate, improving from a peak of 12.8x in 2021.
Rental trends
Average monthly rent · ONS Private Rental Index
Rental data shown for wider West Devon area
Average monthly rent in West Devon is £836, up 2.1% year-on-year. Rents have risen consistently over the past five years.
Monthly mortgage
2yr fixed · 75% LTV · 25yr term · BoE avg. rate
Based on the average West Devon price of £375,813 with a 25% deposit (£94k), a 2-year fixed mortgage at 3.97% costs around £1,483 per month.
Rent vs buy snapshot
Monthly cost comparison based on current data
Uses PL16 avg. price with West Devon rental data
Monthly mortgage payments (£1,483) are £647 more than renting (£836). However, buying requires an upfront deposit of £94k — it would take around 32 years to recoup that cost compared to renting and investing the difference.
Recent sales
Latest transactions · HM Land Registry Price Paid Data
| Address | Type | Price | Date |
|---|---|---|---|
WEST PARK COTTAGE, BROADWOODWIDGER PL16 0ER | Detached | £462,000 | 12 Dec 2025 |
JUBILEE VILLA, TINHAY PL16 0AJ | Detached | £300,000 | 28 Nov 2025 |
TOWN FARM, FORE STREET PL16 0BT | Semi-detached | £425,000 | 4 Nov 2025 |
LITTLE BERE, NORTH ROAD PL16 0EH | Detached | £670,000 | 24 Oct 2025 |
9, MILLERS CLOSE PL16 0EQ | Detached | £525,000 | 7 Oct 2025 |
2, RIVERSIDE, CHILLATON PL16 0HP | Semi-detached | £315,000 | 26 Sept 2025 |
5, TINHAY COURT, TINHAY PL16 0AP | Semi-detached |
Data sources (all free & public): HM Land Registry Price Paid Data & UK House Price Index · ONS Housing Affordability Ratios · ONS Private Rental Index · Bank of England Quoted Household Interest Rates · HMRC Monthly Property Transactions
Contains HM Land Registry data © Crown copyright and database right 2021. This data is licensed under the Open Government Licence v3.0.