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26 June 2007

Cornwall – a hot county

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by Kay Mitchell

Cornwall – a hot county

Just over a decade ago, you could have bought a home in Cornwall for just £62,000, summer and surfing comes to mind when thinking of Cornwall. The population was dwindling as people moved out of the area for jobs and demand was low. Today, that same home will cost around £206,000 – more than a similar property in Cambridgeshire, Suffolk or Devon.

A good climate, beautiful coastlines, sandy beaches and national attractions such as the Eden Project and the National Maritime Museum are appealing to many.

There are about 50 homes on sale in Cornwall for more than £1 million and demand now outweighs supply. Many are abandoning the city for this idyllic life. More people work from home thanks to the internet and transport has significantly improved. Newquay airport handles three quarters of a million passengers each year.

Location is of utmost importance, recently a 3-bedroom Victoria terraced house in Redruth was up for sale in May for £275,000, a number of bidders to the sale price to £320,000. Secondly, in Rock, a 5-bedroom detached house was marketed at £4.95 million, again a number of bidders to the sale price to above £6 million.

Waterfront apartments are available in redeveloped Falmouth, prices range from £200,000 to £600,000. Penzance, at the western end of the peninsula is now stylish, has Good Food Guide restaurants, and prices are increasing.

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