- Fri 18 Sep 2015
Property development in the new homes market in West Cornwall has traditionally ebbed and flowed with the market place but generally at a slower pace than in other parts of the South West. However, this time round with the housing market recovery, West Cornwall stands out in the region in terms of sales success and general new homes buying confidence.
This trend gradually picked up pace at the tail end of 2014 and has been going ever since, as witnessed by our Land and New Homes strong new homes presence within this area of the South West.
Chris Baxter from the Land and New Homes department commented: “In my conversations within the property business world, up until now ‘extraordinary property trends in West Cornwall’ was not a phrase that came easily, however for some time now when someone has asked me where the new homes market is at its hottest, the West Cornwall area comes top of the list”.
This is backed up by hard evidence in Camborne where we are selling new homes at the Hidderley Park development, a good six months ahead of construction. With the last plot release the new home went to tender as there were a number of buyers chasing the same property. Chris Baxter explains ‘’This is not an isolated event, with other developers in the area reporting that the majority of their sales are off plan rather than from built houses.’
Other areas of West Cornwall are singing the same song and in the large and expanding conurbation of Newquay a similar story can be told. Whilst within the Newquay area there are quite a few major new sites being built, Bradleys Estate Agents again report off plan sales taking place at two large developments – The Village at Quintrell Downs being built by Kier and DCH and Tregunnel Hill which is being built by Morrish Builders as part of the Duchy Land joint venture.
So what’s driving this trend? Chris Baxter states “As always it’s a number of factors rather than one dominant one. Help to Buy has enabled many first time buyers to purchase a new homes without the traditional 20% deposit and where the Government backed scheme is being offered some sites have take-up representing 50% of all new homes sold. Another point rests with the sheer variety of homes available at this time from traditional cottage clusters, such as those seen at Tregunnel Hill, to the stone and render mix at Hidderley Park in Camborne, and ultra-modern designs in very different settings. This has caught the imagination of the buying public especially in an area where design and finish traditionally have been lacking. Last but not least, previous infrastructure development in West Cornwall has meant this part of the Country is far more accessible than it ever used to be, attracting those looking to downsize from more expensive areas of the UK or those attracted by the unique lifestyle and coastal topography afforded by the location”.
One thing is certain. This trend is set to continue and in most cases in West Cornwall the phrase “We can sell them quicker than we can build them” is true.
Bradleys Land & New Homes Director