Local market conditions in Cornwall have started well in 2015 and we can now take a look back at how the market has performed in the first quarter. Generally the opinion has been 'positive but not fantastic' with the lettings market still outperforming the sales market considerably. While the governments attempts to help the market gain momentum with schemes such as 'Help To Buy' has made a difference and many first time buyers are now able to secure their first home with lower deposits, the 'ripple' effect that was supposed to drive the rest of the market on has been slow and its effects, certainly in Cornwall, have not been really felt.
The London and South East market continues to perform very well and prices are still on the increase. Eventually this should filter down to the South West, however the market here locally is still based on local wages and employment, both of which are not growing fast.
Buying a property to let still looks a great plan for an investment or future pension and many landlords have approached us this year looking for some free advice and rental yield valuations. All signs point to a strong lettings market for the rest of the year and while the sales market is in better shape than perhaps previous years, we haven't seen a 'boom' (yet!).