A Focus on Property in the Blavet Valley / Pontivy area of Morbihan (dept 56)
In Brittany, bare facts about the housing market make interesting reading. House prices have been rising steadily since 2001 and in the last four years the average price of apartments has risen 49%, houses by 44% and building land by 39%.
These average figures do, however, mask important disparities between different areas within the region, with the centre of Brittany continuing to profit from an influx of British buyers.
With the market very active, in the Blavet Valley area for example, house prices have actually risen by 60% over the last four years. Nevertheless, it is important to note that this area still has house prices dramatically lower than the average for the Morbihan. In the Pontivy area, for example, the average price of properties sold in 2004 was 97,000 euros, compared to 140,000 for the department as a whole, and the lower the average price, the trend has been for more buyers from outside the area purchasing, accounting for more than 22% of all purchases. (Figures compiled by the Regional Committee of Notaires at Rennes.)
Looking in more detail, older type properties in the Blavet valley area have increased in price by 22% in the last year, with more than 50%of properties purchased by the age-group 30-49 and with more than half the sellers being 60+. The population of homeowners with traditional properties in this area is therefore becoming younger, accounting for the extensive renovations .
Even more telling is that only 41% of buyers are already resident in the area, 18% from elsewhere in Morbihan and 17% British.
Land sales also display the significantly changing demographics in this region. In 2001, 90% of land for sale in the Pontivy area was acquired by purchasers already resident in the communes of the “Pays de Pontivy” while in 2005 this has fallen to 67%.
The conclusions? Demand on properties and land for sale remains high in this area, as both French and British alike are attracted by the value for money, beautiful countryside and the agreeable way of life around the busy and surprisingly cosmopolitan town of Pontivy. All these factors, plus the announcement of the new dual carriageway to Vannes, bringing the wonderful beaches of the south coast ever closer, (and Pontivy within commuting distance of Vannes), and the new Hospital Centre at Noyal Pontivy bringing extra specialist employment opportunities should ensure a sustainable and important increase in prices in the years to come.
To see what is probably the most comprehensive list of properties for sale in Brittany go to www.breton-homes.com au version Francais pour maisons a vendre en Bretagne - www.bretagne-immobilier-direct.com