The pandemic has affected all our lives. However, the changes to the way everyone has had to live means that the pandemic has also had a huge impact on the West Cornwall property market.
Because businesses have had to adapt to three lockdowns and social distancing, this means its now easier than ever to work from home. With home being wherever you want. Many property owners living in landlocked urban areas, have then started to wonder whether they can live somewhere beautiful, like Cornwall. This combined with the stamp duty holiday, has meant that demand for properties in West Cornwall has soared since the autumn of 2020. This in turn has created the inevitable price rises, as demand far outstrips supply.
Is the Pandemic impact on the West Cornwall property market going to last?
Who knows if this trend will continue. Cornwall, especially the deepest darkest West, is not for everyone. After all, ‘dreckly’ isn’t just a word, it’s a way of life down here. Its certainly not a shoppers paradise, thankfully! And it rains – a lot. You need to love outdoor life, in all weathers and making your own entertainment.
This means that there may be some bargains in a couple of years’ time. Some People may realise that they’ve bought in haste and that whilst Cornwall is great for a holiday, its not somewhere they want to live. This will be especially true if they need an income.
For those of us that still have the battle wounds from the 15% interest rates and price crash of the early 90’s, we’re probably more cautious and see this as a bubble that’s going to burst. But I for one have been wrong before, so who knows what the future of the West Cornwall property market will be. Oh for that crystal ball!
Over the next few articles I’ll be taking a snapshot view of what you can buy at key price points in St Ives, Hayle and Penzance. Its unlikely at the moment but I may unearth the occasional bargain too. So watch this space.
Get in touch
I’d love to hear your thoughts on the West Cornwall property market. What do you think will happen in the next couple of years. Please comment below or drop me an email.
If you’re considering becoming a landlord or need advice about the rental property market in West Cornwall, please either Contact Deborah or John at CAM Residential Lettings in Hayle or take a look at our FAQ page. Or why not give us a call on: 01736 755077