Cornwall's 43 postcode districts have been analysed to determine the speed of the property market across the county.
House selling forecaster, PropCast, has conducted research to uncover the 10 'best and worst locations' to be selling a home right now.
By counting the number of properties for sale across Cornwall and calculating the percentage of those under offer or subject to contract – portrayed as a temperature recording - PropCast has found that 53.5% of postcode districts have a market heat temperature of at least 35°, indicating they are in a sellers' market.
This is when there are more buyers than properties for sale, placing the balance of power in favour of home sellers. June figures revealed postcode district TR15 (Redruth) recorded the 'hottest' market heat temperature at 56°, where local homeowners are in the best-selling position to be selling a home.
Meanwhile, 46.6% of Cornwall’s postcode districts are in a buyers' market, and in a much harder position to be selling their home. The 'coldest' location is TR17 (Marazion) which recorded a market heat temperature of 18°.
Analysis of the historic data reveals that over the last 12 months, buyer demand rose for just 13 of Cornwall’s postcode districts, with PL33 (Delabole) seeing the biggest growth at 45%. However, with buyer demand slipping for 69.8% of postcodes districts, PropCast states that this indicates cooling market conditions, signalling a slowdown in house price growth overall over the last year.
There is a notable difference when looking further back to the June 2016 Brexit vote, where buyer demand rose for 79% of Cornwall’s postcode districts, suggesting it was easier for home sellers three years ago than it is now.
Gavin Brazg, creator of PropCast, comments: "Although the majority of Cornwall sellers retain the upper hand despite Brexit uncertainty, they still need to position their asking price competitively against other similar houses for sale, if they want to attract multiple offers and achieve the best possible price. The local market is still cooling since the UK’s decision to leave the EU.
"Meanwhile those sellers in cold buyers' markets should not be downhearted because it’s still absolutely possible to sell quickly. Buyers are out there; they’re just really picky and only interested in the houses that represent best value for money.
"A good goal for house sellers in this type of market is to try to position their home so it’s the best home at the cheapest price. That’s the most effective way to get serious buyers through your door and making offers."
https://bit.ly/2LhcFyJ via Cornwall Live