Why did house prices in the Southwest rise 17% last year?

Demand in Cornwall currently far exceeds supply, which is driving up prices. Mr. Clifford said a property in the southeastern county received 16 offers at the end of last year, with the highest being 44% above the guide price.

According to Rightmove, average selling prices in Rock, a small town popular with celebrities and boatmen, are £ 1.296 million, up 37% from the previous year. This very high growth rate is partly due to a small sample size and also because people are buying larger properties.

Many properties in the Southwest received multiple offers, leading to offers well above asking prices, said Simon Cooper of Stags, a real estate agency.

“The main reason was that people realized they could work from home for the long term. Maybe they work in London, but now they actually need to be in the office very rarely, so they settle down at home in Devon or Cornwall and go to the office once or twice a month when needed, “he said.

He added: “The market has been incredibly busy since the first block ended in May last year, people are definitely selling for more than expected.

“Within minutes of activating a property on our website, we are receiving more emails and calls requesting visits.”

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About Myra R.

Myra R.

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