Why are houses in Falmouth, Cornwall so expensive?

[aubergineterrine]

Husband has got a job opportunity in Cornwall. We have been looking at houses to buy, particularly in Falmouth and can't believe how expensive they are. Who is buying these houses? particularly the large family homes that seem to sell so quickly. We had hoped to be able to get more for our money but it doesnt seem so.

Many of the large family homes are holiday homes of very wealthy people based in London. They are bought quickly as many do not need mortgages bad are cash purchases. Local people have been largely priced out of the nicest parts of Cornwall. You don’t need to go far though to find a lot more for your money. Camborne, Redruth very affordable.

Thanks for your reply. The reason we like Falmouth is because it appears to be a working town with a community rather than somewhere simply picturesque full of second home owners. But you are suggesting that's not the case. Also, I guess there's a fair amount of student houses.

Supply and demand I'm afraid. Wealthy people want to live there (weekends) so they've bought it up.same in loads of places. Shit for people who grew up there and have to leave.

I’m not saying it’s not a working town. Just that as a picturesque coastal town many of the large family homes have been bought up as holiday homes and that generally - and his is a very broad brush I’m using here - properties are up to £100,000 more than comparable properties in nearby, but inland and less picturesque, areas.

Its a beautiful area of Cornwall. A perfect choice for second home owners or holiday home investors. Very few will be local unless theyve been in the family for years.

We wanted to move to Cornwall to retire.
2 bed bungalow that needed total renovation was at least 75k over priced.
We made an offer which was rejected as they wanted the asking price.
It is still on the market a year later on at the same price.

Camborne and Redruth are very affordable for a reason - jobs are very low paid, there is huge unemployment, they are inland and they are not very nice places to live with few amenities. They have none of the benefits of Falmouth and are half an hour away....more in summer traffic

Have you researched Cornwall at all? I have lived in Cornwall all my life. Falmouth is ridiculously expensive you'd be better looking at Helston or Redruth.

There are a lot of student properties, that's partly why.

How about Penryn or Truro? Or somewhere like Constantine or Gweek?

What is your budget?

Because it has a pub with a little bookshop in it?!

Husbands job is in Falmouth so ideally we would move there or nearby. We have visited recently and realised that the roads are busy so if we live too far away the drive will take ages.

I live outside of Falmouth and work in and around Falmouth, the traffic is generally fine outside of holiday time.

If you give me an idea of your budget and size etc, I can advise you further. I work in property, albeit not in property sales.

Partyfops, thank you for replying. We are looking to spend around £800-900k to get a 5 bedroom house. Everything that is suitable that comes up in our price bracket or more seems to get snapped up very quickly. We are looking for a lifestyle change where we live in a community not amongst masses of second homes, holiday lets and student houses. Would you say in your opinion that these houses are being bought up by the above, or by families wanting to live there full time.

There are some lovely villages close to Falmouth where you will get some lovely houses for that. Mylor, Mawnan, perranwell, Constantine. All lovely and really not full of second houses.

Just seen a five double bedroom terraced house, overlooking the harbour in Falmouth for £875K.

This is lovely

Camborne and Redruth are very affordable for a reason - jobs are very low paid, there is huge unemployment, they are inland and they are not very nice places to live with few amenities

I would much rather live in CPR than Falmouth.

No sea view but thousands cheaper. Its a good distance between Truro, Falmouth, St.Ives, Mullion, Newquay.

I would bet there are far, far more drug users, street drinkers and rough sleepers in Falmouth than CPR.

Places like Pendarves Road in Camborne are lovely.

There was an absolutely stunning property in Clinton Road, Redruth for sale. You could save £300,000.

900 grand! Blimey

Partyfops I agree, the villages are lovely around there, and if you are wanting to go top of budget, it would be a good choice, I also think areas further afield are great contenders too.

Lots of amazing properties around.

I would pay £300k not to live in Camborne or Redruth, but I'm a big snob sorry. I feel unsafe walking in those areas.

I would rather have £300,000 left to spend on family rather than brick.

Surely if the Falmouth packet is anything to go by, drugs are as rife in Falmouth as they are in Penzance? That worries me.

That's supply and demand for you

You are part of the reason why locals cannot buy a house at a reasonable price. How many locals could afford to spend 800k + on a property. You can’t afford a house in Falmouth, they can’t afford a house anywhere in Cornwall.

Good god partyfobs, have you ever been anywhere actually rough?
DH’s family live in various places in and around Redruth and surrounding villages and whilst it is not as pretty as Falmouth it is nowhere even vaguely bordering on rough ( and I say that as someone who may be considered by many to be a posh snob)