Rightmove names Cornwall town as UK's hottest property market as 'stock shortage' hits

Surfers play in the waves during the hot sunshine on Great Western beach in Newquay, Cornwall in June 2019.
Demand for coastal locations across Britain is at an all-time high. Credit: ITV News

Newquay has been named the hottest property seller's market by online property portal, Rightmove.

The surfing hotspot on the north coast of Cornwall reached top spot just ahead of Newton-Le-Willows in Merseyside and Plymstock in Devon.

Rightmove said the lure of sun, sea and sand on the doorstep has sent property sales in Newquay into a frenzy, with eight out of 10 homes put up for sale this year already sold, subject to contract.

Local estate agents report the busy market in Newquay is made up of a mix of locals moving, people buying holiday homes and those who have decided to relocate permanently.

The average asking price for a home in Newquay is £351,398, but it costs considerably more for the most in-demand properties by the sea and for those with coveted water views.

High demand has pushed prices to record highs in some areas. Credit: ITV News

Bradley Start, of Start & Co Estate Agents in Newquay, said: “The stock shortage is the worst I’ve seen in 30 years and there’s just seemingly endless demand.

"We’re getting requests for viewings within minutes of a property going on Rightmove and many properties are going to best and final offers due to the competition, something that usually we would only see a few times a year.”

Demand for coastal locations across Britain is at an all-time high, and not just from the summer staycation crowds.

Rightmove said it has seen a record number of home-hunters visit the site this month as lockdown restrictions start to ease.

Property expert Tim Bannister said: “Areas around the North and South West are the stand-out seller’s markets right now, and places in Cornwall and Devon are continuing the trend of a desire to move to the seaside and countryside.

"In a traditional year there would be a couple of record days for visits or enquiries being sent by home-hunters, but the pace of the current market caused by a combination of restrictions easing, a desire for more space and people considering different locations, has led to records tumbling week after week."

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