The G7 Effect

The recent G7 Summit brought an influx of high-profile visitors and world leader to Cornwall with reports from the county every night on the news. (Try Googling Joe Biden Stenalees).

According to the property website Rightmove this led to a doubling of the number of searches on their website for Carbis Bay as house hunters checked the area out. On the 9th of June searches for the area were up 103% compared with the previous day.

They report that the average price in Carbis Bay is 6% higher that a year ago at £384,243 which is over £50,000 higher than the average price for the county with some properties particularly those with sea views selling for over £1,000,000.

Cornwall continues to be one of the most popular searches on Rightmove and was top of the list in May.

Other areas in the county that have seen a recent surge in interest include Portscatho on the south coast with a 29% increase in enquiries.

Here at DowlingDodd we have seen little evidence of a slow down in the market although the supply of property is certainly reducing. Whilst vendors are well aware that they are likely to have little problems finding a buyer and getting a good price, they are beginning to realise that they may have problems finding a new home so are reluctant to put their own property up for sale.  This and the continuing demand are still having an inflationary effect on values.

The profile of Cornwall continues to grow with programmes on the TV and recently Marazion and St Michaels Mount has been transformed as a film set for the prequel of Game of Thrones and rumours abound that the crew will return later in the year to continue filming.

Could this lead to Marazion becoming the next hot spot in the county?

We are still receiving high levels of enquiries for surveys on all types of properties and in the last couple of months our surveyors have been as busy as ever with HomeBuyers Surveys and Building Surveys and our support staff continue to be flat out typing reports ranging from several coastal properties over £3,000,000 in St Mawes and on the north coast in Polzeath as well as first time buyers getting their feet on to the first rung of the ladder in towns such as Camborne and Redruth.

If you’re moving, remember DowlingDodd are here to help you through the whole process with our vast experience over many years working in the local market.

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Published 11 August 2021

Written by: Julian Crosby FRICS