Regional Update
Spring 2025 Regional Housing Market Update: Cornwall’s Property Market in Bloom
Spring 2025 Regional Housing Market Update: Market in Bloom
As we step into Spring 2025, the housing market in Cornwall is experiencing a wave of optimism, signaling the start of what could be an exciting period for both buyers and sellers. The average house price has risen by a solid 3.8% since last year, and the landscape is set for a promising spring season. With rising property values and a steadily improving sense of buyer confidence, Cornwall’s housing market is showing strong signs of growth. So, what’s fueling this momentum, and what should prospective buyers and sellers know?
Buyer Confidence on the Up
One of the most encouraging trends we’re seeing as we head into Spring is the boost in buyer confidence. According to a recent survey by Dataloft (PriceHubble), 62% of estate agents report that buyer sentiment has either slightly or significantly improved in recent months. This shift in mood is a strong indicator that prospective buyers are feeling more secure and optimistic about making property investments, despite the uncertainties of the past few years.
That said, it’s not all sunshine and rainbows. The influx of properties hitting the market has led to a slight cooling effect in some parts of the country. Data from Rightmove reveals that the national supply of homes for sale has reached a 10-year high. While more available properties provide buyers with greater choice, this increase in supply has tempered price growth in certain areas. However, Cornwall is still seeing notable price increases, suggesting that the local market remains resilient and buoyant, even amid these national trends.
The Rise of Houses Over Flats
Over the past few years, there’s been a marked shift in buyer preferences, with more people leaning toward houses over flats. Historically, flats were an affordable entry point into the property market, but that gap has widened significantly in recent years. House prices have surged by a whopping 24% in the last five years, compared to a more modest 7% increase in flat prices. As a result, houses now cost, on average, 67% more than flats, the widest price differential seen in 30 years.
This trend has been amplified by concerns over flats—service charges, ground rents, and building safety issues have all played a role in pushing buyers toward larger properties. Many buyers now prefer the long-term value and flexibility offered by houses, which has created a particularly strong market for detached, semi-detached, and terraced homes. Whether it’s for more space or a desire for greater control over property maintenance, buyers are clearly gravitating toward houses, which bodes well for this segment of the market in Cornwall.
The Role of Cash Sales and Mortgage Trends
In recent years, cash buyers have played a crucial role in Cornwall’s housing market, and that trend continues. Cash sales have remained a steady feature of the regional property scene, though there’s been a slight decrease in the overall proportion of cash transactions. In 2024, cash sales accounted for 31% of all property sales, slightly down from 34% in 2023, but still higher than the five-year average of 28%. This suggests that a growing number of buyers are able to access mortgage lending, which is a positive sign for market liquidity.
Interestingly, the South West region continues to see a substantial proportion of cash sales, with 38% of property transactions in the past year involving cash buyers. Whether it’s investors seeking to capitalise on the region’s robust property market or retirees looking for a second home, Cornwall has long been an attractive option for cash buyers.
What’s Ahead for Cornwall’s Housing Market?
Looking forward to the rest of 2025, Cornwall’s housing market appears poised to remain steady, with moderate price growth expected in key areas. An increase in the supply of homes for sale will help keep the market balanced, which benefits both buyers and sellers. The growing preference for houses, particularly detached and semi-detached homes, will likely keep demand strong for these types of properties, even as price increases continue.
As buyer confidence continues to improve and mortgage lending becomes more accessible, now could be an opportune time for both buyers and sellers to make their move. Whether you’re looking for a coastal retreat, a rural sanctuary, or a family home in one of Cornwall’s charming towns, the market is ripe with opportunity.
Cornwall: A Place for Every Type of Buyer
From the bustling urban vibrancy of Plymouth to the tranquil beauty of West Devon, Cornwall offers something for every kind of buyer. Whether you’re a first-time buyer, a seasoned investor, or a family looking for your next home, Cornwall’s unique blend of natural beauty and solid property values make it an attractive choice. With the housing market gaining traction this spring, there’s never been a better time to explore what Cornwall has to offer.
Stay in the Know: More Updates to Come
As we continue to monitor the regional market throughout 2025 and beyond, we’ll keep you updated with the latest trends, insights, and forecasts. Whether you’re buying, selling, or simply curious about the state of Cornwall’s property market, we’re here to guide you through every step of your journey.
With demand for homes in Cornwall showing no signs of slowing down, the next few months are shaping up to be an exciting time for us here at H Tiddy Estate Agents. So, if you’re ready to make a move, don’t hesitate to reach out. We’re here to help you navigate this thriving market and find the perfect property to suit your needs.