A recent Telegraph article makes interesting reading and they have spoken with some local estate agents as well to back it up. According to the story the county is attracting several different types of buyers, from:
- 'foodies' who are looking to move and live around Padstow (Cornwall has more Michelin stared restaurants than anywhere apart from London),
- 'new money' who are attracted to sought after areas like Rock,
- 'creative commuters' who are inspired by areas like St Ives but will find work in Truro and surrounding areas,
-'sailors' who are moving the the seaside towns such as Falmouth and, finally,
- 'Cornish converts' who are moving to Truro for a change of lifestyle are are attracted to the cities jobs, schools and social scene.
These 'Cornish converts' are the ones that seem to interest me the most as these are the ones who are becoming new renters in the area and then eventually buying family homes, helping bolster the local market.
While wages in Cornwall remain low in comparison to the rest of the country, (£17,344 vs £23,453 national average) - and until this changes we are not going to see massive rises in property prices - if we are seeing a larger number of people 'migrate' to the county from other parts of England, the demand for housing stock must surely rise.
Price is massively influenced by demand and with a high demand this will inevitably help the market here in Truro and the average price will see an increase.