House prices increased slightly in Cornwall in December, new figures show.
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 4.1 per cent annual growth.
The average Cornwall house price in December was £241,058, Land Registry figures show – a 0.4 per cent increase on November.
Over the month, the picture was less good than that across the south west, where prices increased 1.3 per cent, but Cornwall outperformed the 0.3 per cent rise for the UK as a whole.
Over the past year, the average sale price of property in Cornwall rose by £9,400 – putting the area seventh among the south west’s 36 local authorities for annual growth.
The best annual growth in the region was in North Devon, where properties increased on average by eight per cent, to £255,000. At the other end of the scale, properties in Cheltenham dropped 4.5 per cent in value, giving an average price of £265,000.
Winners and losers
Owners of detached houses saw the biggest improvement in property prices in Cornwall in December – they increased 0.7 per cent, to £350,339 on average. Over the past year prices rose by 4.4 per cent.
Among other types of property:
Semi-detached: up 0.6 per cent monthly; up 4.9 per cent annually; £232,931 average
Terraced: up 0.1 per cent monthly; up 3.9 per cent annually; £190,589 average
Flats: remained level over the month; up 1.8 per cent annually; £141,647 average
First steps on the property ladder
First-time buyers in Cornwall spent an average of £198,500 on their property – £7,300 more than a year ago, and £31,400 more than in December 2014.
By comparison, former owner-occupiers paid £271,000 on average in December – 36.5 per cent more than first-time buyers.
How do property prices in Cornwall compare?
Buyers paid 8.1 per cent less than the average price in the south west (£262,000) in December for a property in Cornwall. Across the south west, property prices are higher than those across the UK, where the average cost £235,000.
The most expensive properties in the south west were in the Cotswolds – £384,000 on average, and 1.6 times as much as in Cornwall. The Cotswolds properties cost 2.1 times as much as homes in Plymouth (£181,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea, where the average December sale price of £1.3 million could buy 14 properties in Burnley (average £92,000).
Average property price in December
Cornwall: £241,058
The South West: £262,286
UK: £234,742
Annual growth to December
Cornwall: +4.1 per cent
The south west: +2.2 per cent
UK: +2.2 per cent
Best and worst annual growth in the south west
North Devon: +8.0 per cent
Cheltenham: -4.5 per cent
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