Amidst the aura of uncertainty, here in Cornwall the sun is shining, both literally and metaphorically. We arrived back to work in 2019 to an unexpected surge in activity, whereby sales have exceeded our expectations to date. The market is most certainly more robust where buyers confidence is more positive. There is a general feeling that the UK leaving the EU will not have any impact on the housing market, especially whilst interest rates remain at all time lows and mortgage products remain competitive and affordable.
We are very lucky to be based on The Roseland, ‘the jewel in Cornwall’s crown’ and an Area of Outstanding Natural Beauty. The exclusive harbour village of St Mawes, located on the tip of the peninsula, has an average house price of around £1.2 million and feeds house price growth in the area. There is a limited supply of properties available at any point in time and a healthy demand of willing and able buyers when the right property becomes available. This means that our market is relatively recession proof. Compared to many areas in the UK, The Roseland has seen house price growth (albeit at inflationary levels) over the last few years.
Waterside villages such as St Mawes, Portscatho and Portloe continue to set price precedents as people will always like to “live by the seaside”. Prime waterside or cliff top properties with uninterrupted water views appear to sell at an average increased premium of around 45%. This can be highlighted by comparing the purchase price of a property by it’s internal floor area. In 2018, the properties sold in St Mawes was around an average of £546/sq ft compared to the properties we sold inland at £365/sq ft.
Analysing specific locations within St Mawes, properties which are situated in waterside/waterfront positions offering outstanding uninterrupted and panoramic water views range from around £530/sq ft for properties requiring modernization to around £690/sq ft for bespoke, luxuriously appointed properties. This compares to an average circa £330/sq ft for properties in the village having more localized views.
We currently have two waterfront properties in St Mawes available on the open market at the moment:
Pendragon is a distinctive detached and extended marine residence, dating back to 1926, and offers magnificent panoramic river and countryside views. The property has foreshore and a mooring, occupying private mature gardens as well as being conveniently located to beaches, shops and fine dining restaurants. Guide price: £2,850,000.
The Moorings on Lower Castle Road, St Mawes is for sale at a very realistic price of offers over £1,650,000. This sympathetically restored Victorian residence is situated on the exclusive waterfront. There are captivating views as well as an amazing waterfront garden which has direct water access and planning for a summerhouse / garden room.
Travelling by boat along the Percuil River from St Mawes towards Polingey Creek, you will discover Nancorras. Marketed at offers over £1,695,000, this bespoke residence has exceptional views. It has circa 15 acres of land rolling down towards the shores of the river.
We are constantly receiving more interest from potential buyers, especially from the lifestyle change buyer looking for a better quality of life in our beautiful county. Also, there is the second home buyer seeking a de-stress and chillax from the challenges of working life, some choosing to holiday let the property when they are not in residence to contribute towards its running costs. As a result, coastal properties with water views are consistently increasing in popularity.