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What’s next for the Cornish property market?

The Harding Laity Market Report, September 2021

Property experts are watching the Cornish housing market with interest, unsure of whether high levels of demand or buoyant prices will continue into the final quarter of the year. Now that the initial surge of interest in buying in the South West has abated and the stamp duty holiday is coming to an end, what’s next for buyers and sellers in the region? 

Here at Harding Laity we have well-established expert teams working at both ends of the county in the property hotspots of St Ives and Wadebridge, making us an excellent barometer of the temperature of the housing market right now! 

How high is demand for Cornish properties in late-2021?

Demand has levelled off somewhat, but is still incredibly high as we move into the final quarter of 2021. The lifestyle drivers which led to such frenzied activity – particularly in the mid to prime end of the market – have not gone away, and although people looking to move to rural areas are not doing so in such a reactionary way, their reasons for moving remain the same. 

While the rural housing market generally is very strong, Cornwall continues to go above and beyond, and now with added national and international interest sparked by the G7. Rightmove reported that house searches in Carbis Bay doubled in a day as the coastal enclave hit news headlines around the world, and the Duchy remains one of the most popular areas of the country for property searches in 2021.

Will I get a great price if I sell now? 

All this demand means that more homes than ever are selling for their asking price or above and these asking prices have risen by an average of 17% across the county in the last 12 months.

So, if you’ve been considering selling for a while, now is a great time to aspire to get that quick sale and take the next step on the housing ladder with renewed confidence. 

As ever, we advise our sellers to be realistic about what price they might achieve, and to prepare their homes carefully for viewings.

We also urge all clients to be sensible and cautious about snap offers from purchasers who may have only seen the property briefly once, or in some cases online only; these kinds of offers are more likely to fall through and can result in that fragile buying chain disintegrating before your eyes!

What about the longer term?

With the stamp duty holiday now being phased out, the middle market is starting to quieten down a little. However, prices are remaining buoyant, with a shortage of property coming onto the market creating an imbalance between supply and demand. 

Market observers are also predicting a resurgence of interest in urban property once the shape of the post-pandemic city becomes clearer. Rejuvenated urban areas with fewer offices, more green spaces and plenty of social amenities could potentially become very attractive places to live in the future, turning the heads of buyers who would otherwise consider relocating to the countryside. 

How can Harding Laity help?

We will always give our clients honest assistance based on local expertise, and will take the time to get to know your particular property and circumstances. With experienced teams working at both ends of the county in St Ives and Wadebridge, we have the Cornish property market covered! 

We can provide a free appraisal at any time. If you decide the time is right and choose to list your house with us, we’ll do everything we can to help you achieve a smooth and successful sale, putting you in the best position as you search for your next home here in Cornwall or beyond.

So, is it time to start a new chapter? Give us a call on 01208 813874 or drop us an email at hello@hardinglaity.com