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The Cornish Housing Market

Rose Cottage, Portloe

H Tiddy Independent Estate Agents have been established for over 100 years. The company is a professional and highly experienced organization based in the exclusive and enchanting Cornish coastal village of St Mawes. H Tiddy is a private limited company and is managed by Director and shareholder, Mark Willson, who commenced his career in Truro in 1985.  H Tiddy successfully sells a wide range of properties in all price categories in and around the rivers and creeks of The Carrick Roads, The Roseland Peninsula (the jewel in Cornwall’s crown) and up to the Cornish Riviera around Gorran Haven and Mevagissey.

The Roseland and St Mawes have long been one of the West Country's more desirable and sought after destinations, with Olga Polizzi's Hotel Tresanton, the recently re-modelled Idle Rocks Hotel, the Nare Head Hotel, and the Michelin Star restaurant at The Driftwood Hotel all luring the rich and famous. 

So far this year H Tiddy has traded exceptionally well. They have sale agreed and sold properties in all price ranges from flats for £81,600 up to and including properties in the £3 million price bracket.

A couple of examples of properties that H Tiddy have sold so far this year include: Teg Dowr, Freshwater Lane, St Mawes described by the agents as a striking and substantial detached residence with direct access to the Percuil River via it’s own private slipway. The property was launched on the market at a guide price of £3,000,000 in early October 2017. An offer was accepted in early November and the sale completed in January. Mark Willson said he was very humbled to receive a Fortnum and Mason hamper with a note from the sellers thanking them for all their help, advice and persistence, which also added that H Tiddy they were “streets ahead of the competition”!

Pebblebrook, Rice Lane, Gorran Haven became available on the open market for the first time since it was built. H Tiddy’s clients informed them that their grandparents had supervised the build of the property in 1938 and this 3 bedroom detached bungalow, bordered by a stream, was inherited by their mother in 1996 who enjoyed her last remaining years there. H Tiddy sold the property off an asking price of £329,950.

H Tiddy’s sales successes have remained consistent to previous years despite facing the roller coaster of the challenges due to the lack of growth with the UK economy. Finding new properties to bring to the market has been a key issue for a good number of years now. As a result of a strong number of cash buyers registered with them on their database, there have been a handful of properties that they have sold that did not see the open market. For example, pictured is Rose Cottage in Portloe. H Tiddy were given instructions in January to market this unique and deceptively spacious 3 bedroom contemporary cottage at a guide price of £525,000. After a few phone calls made by the H Tiddy team, a sale was agreed prior to an open launch.

Mark Willson commented: “Due to the lack of supply of properties coming to the market, and a strong demand from buyers seeking the right property at the right price, we are finding that house price growth in Cornwall remains stable. Recent press announcements stating that house prices are falling, is incorrect. With the exception of London, property prices are increasing, but at a slower rate of growth. Providing sellers are not greedy with their price expectations, buyers are seeing properties sell in their price range and are therefore remaining confident in offering a fair price on their chosen property.”

Mark went on to say: “looking ahead further to 2019 and 2020, once Brexit agreements are reached, I predict that the UK economy could potentially go though a growth spurt. The housing market usually follows. If a dramatic increase in property price growth is not controlled (for instance interest rate rises), the bubble could then burst, culminating in a negative adjustment in pricing. The London market is a prime example of having excessive house price growth for many years leading to a downturn in pricing over the last 12 to 18 months”.

Mark predicts that providing there are not any “Black Mondays” or banking crises, there will be no significant changes in the Cornish housing market for the foreseeable future. In summary, now is still a good time to sell and buy.

H Tiddy are currently selling out of properties and are keen to have a chat with anyone in the area who is considering selling. Mark Willson (Director) and his team of Natalie Andrew, Gail Chenoweth and Thomas Sparkes can be contacted by visiting their office in St Mawes, via their web site (www.htiddy.co.uk), by email on sales@htiddy.co.uk or by telephone (01326 270212).

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