Before the Budget: Roseland Property Market Update by Dave Hoskings.
With the Autumn Budget just four days away, what are we seeing in our local property market?
As we approach the Autumn Budget on Wednesday 28 October, buyers and sellers across St Mawes and the Roseland Peninsula are watching closely.
Uncertainty surrounding the economy and potential changes to property taxation is influencing confidence, particularly at the higher end of the market. Some purchasers are taking longer to commit while they wait to understand what the announcements might mean for them.
But transactions are continuing. The market is challenging, and buyers are increasingly selective, yet realistically priced homes are still attracting committed purchasers.
The National Picture
Rightmove’s October House Price Index reports that the average asking price of a newly marketed property across Great Britain increased by 1% this month to £371,015. However, the number of sales being agreed is approximately 8% below the same period last year, while average asking prices across the South West are down 1.1% annually. These figures relate to asking prices, rather than the prices ultimately achieved. This reflects much of what we are experiencing locally. Buyers have greater choice, are comparing properties carefully and are scrutinising asking prices.
It is important to be frank about these conditions. Optimism matters, but it must be supported by evidence and realistic expectations. Sellers deserve honest advice based on comparable sales, current competition and feedback from prospective purchasers.
St Mawes and the Roseland
Our local market continues to attract people looking for permanent homes, retirement properties and coastal retreats. During 2025, H Tiddy achieved approximately £35 million in property sales, including £28.1 million within St Mawes.
Our records show that the average price achieved on properties sold by H Tiddy in St Mawes increased from approximately £852,000 in 2019 to £1.48 million in 2025. These averages reflect the different properties sold each year. A small number of high-value waterfront sales can significantly influence the figures, so they should not be interpreted as an equivalent increase in the value of every home.
For anyone selling today, the most relevant evidence is what comparable properties are achieving in current conditions.
Selective Buyers, Continuing Demand
Throughout this year, purchasers have become more selective, particularly in the premium and waterfront sectors.
They are researching thoroughly, weighing up potential renovation costs and taking longer to make decisions. September nevertheless brought renewed enquiries, including interest in properties above £2 million. Demand has not disappeared, but buyers need to feel confident about value.
Our summer marketing campaign generated approximately £13.1 million in new instructions and nearly £12 million in agreed sales. The agreed prices represented approximately 99.7% of the combined guide prices of those properties. These results show that realistic pricing, exceptional presentation and targeted marketing can still produce strong outcomes. Careful negotiation and continued support through the legal process then remain essential.
What Might the Budget Change?
With the Budget taking place this Wednesday, there is understandable interest in what any announcements could mean for property ownership, household finances and buyer confidence. For St Mawes and the Roseland, measures affecting higher-value homes and second properties are particularly relevant. However, until the Chancellor delivers the Budget, we should avoid treating speculation as confirmed policy.
Greater clarity may help some buyers who have delayed decisions. Equally, the Budget alone is unlikely to transform the market: affordability, personal circumstances and the suitability of individual properties will continue to determine whether people move.
Our Advice Ahead of Wednesday
For sellers, the priorities remain realistic pricing, thoughtful presentation and a willingness to respond to market feedback. For buyers, the choice currently available provides an opportunity to compare homes carefully and make informed decisions.
St Mawes and the Roseland Peninsula remain exceptional places to live and own property. Their coastline, countryside and communities continue to attract purchasers, even when the wider market requires greater patience.
As we await Wednesday’s announcements, our focus remains on helping buyers and sellers make decisions based on clear information and their own circumstances. If you are considering a move, my colleagues and I would be delighted to offer straightforward, confidential advice.
Dave Hoskings
Head of H Tiddy
Written on Saturday 24th October.