Cornwall property market offers buyers a ‘golden combination’ – homes for sale
For those who have always dreamed of moving to Cornwall and living the Cornish dream, a new Channel 4 show might just be what you need to take the plunge. Finding The Cornish Dream is a new series based in Cornwall that showcases the lives of local estate agents, the wonderful homes for sale in the area, and the triumphs and tribulations of the home buying process. During the lockdown and beyond, many Britons have been determined to lift sticks and move to the sunny South West.
In fact, new data from OnTheMarket has revealed exclusively to Express.co.uk that inquiries for property for sale in Cornwall have increased by 67% between 2019 and 2021.
Rising demand has led to price spikes, with property sales prices rising 30% in the region since 2019.
After the pandemic, the average price of properties for sale in Cornwall continued to rise. So far in 2022 it is 10% higher than it was in 2021.
“We had record sales and record asking prices, it’s such a strong and vibrant market,” explained Hilary Rhodes.
Hilary, property adviser at Webbers, said she still sees buyers from Cornwall looking to move to the county.
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She thinks people are looking for a “golden combination” of three or four bedrooms, space for entertaining and outdoor space.
“There are people who are still trying to move and are looking for that three or four bedroom house with a garden after the lockdown. The biggest property where they can have two home work spaces, two or three bedrooms for themselves and to entertain friends and – of course, that golden combination of outdoor space,” she said.
“It has become so precious. It totally changed people’s view of the outer space.
“This work-from-home trend has been great for us for three, four or five bedroom properties, and prices are still so competitive here compared to what you can get in or around London or Surrey or something like that.
“Obviously the prices go up the further you go to the coastal areas, but where we are in Launceston. We are a very good value area.
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Hilary said she had met buyers from London, Surrey, Kent and the South East looking to buy property in Cornwall – and they were still looking.
On top of that, there are also sellers who moved into rental accommodation when they sold their house during the stamp duty holiday.
With property prices steadily rising since then, these house hunters are now looking to re-enter the market and move out of their rented accommodation.
Then there are the buyers that Hilary and other local real estate agents would expect to see at this time of year.
She said: ‘We also have buyers who we would expect to see at this time of year trying to move house for all sorts of normal and standard reasons – lifestyle changes, divorces, retirement, loss of a partner , closeness with the family .
“So the standard general market and the buyers that we would always see are still there, but on top of that we have this other combination of people trying to settle in the county.”
Andrew Body, partner of chartered surveyors, estate agents, appraisers and auctioneers, Lodge & Thomas, said they were ‘inundated with requests’ for more rural homes, with additional land or outbuildings that could be renovated or converted .
Wanted homes with land and buildings saw price increases of around 20-25% when the housing market reopened during lockdown in May 2020 as interest in the county surged.
“We’ve all seen really amazing final prices achieved significantly above the guide price, very often based on the best final sealed offer to close the sale,” Andrew added.
“A lot of people wanted to get out of the towns and cities to go somewhere where they had some land and a garden they could use and escape the hustle and bustle of where they lived at the time.
“We really noticed that certain types of property were more impacted than others. In general it seemed like people wanted to move to the South West, but Cornwall in particular.
Location continues to be ‘everything’ for coastal property buyers with great views being particularly popular. But even less sought-after homes ‘blew away’ as soon as they hit the market due to people’s desire to live in Cornwall.
If you’re looking to live the Cornish dream, check out some of these properties listed with OnTheMarket around Cornwall:
Seven bedroom detached house
Location: St Mabyn, Bodmin
With stunning countryside views, a separate three-bedroom annex and a chain-free suite, this Grade II listed farmhouse has both charm and style.
This property has been finished to an exceptionally high standard with a mix of original features such as beams and contemporary yet neutral decor.
This house also has two barns which have a slatted plan for two vacation rentals.
Two bedroom ground floor apartment
Location: Pentire, Newquay
This modern apartment features a full-width balcony with views, a contemporary and stylish kitchen, beautiful hardwood floors throughout and an excellent EPC rating.
The house has been finished to a high standard and immaculately presented with two refurbished double bedrooms.
The apartment is also a few minutes walk from Fistral beach and the Gannel estuary.
Finding The Cornish Dream airs August 27 at 5.30pm on Channel 4.