"Massive" housing affordability crisis for people wanting to rent or buy in Cornwall
On June 30th, there were only 171 properties for rent across the whole of Cornwall
Last updated 10th Nov 2022
New research shows that there are "very few" places in Cornwall where there is no housing affordability crisis.
The University of Exeter's Institute of Cornish Studies examined postcode data across the Duchy.
They found there are only six "affordable" postcodes where there is no gap between earnings and mortgages. Despite this, researchers say only 12 properties were sold in the last year.
For terraced housing, around 246 were sold in the cheapest six postcodes, but the study found that there was an affordability gap.
Camborne was the lowest priced location, with an affordability gap of just under £11,000. The most expensive location for buying a flat was Port Isaac/St. Endellion, with a mortgage gap of £441,674.
The only locations where there was positive affordability, based on the average monthly salary, were Redruth, St. Austell and Liskeard. At the time of the research, there were only 14 properties for rent in those towns.
On June 30th of this year, there were only 171 properties listed for renting on Rightmove across the whole of Cornwall.
Most expensive locations for buying flats
Wadebridge: £331,639 affordability gap
Downderry: £253,591 affordability gap
Fowey - Polruan: £242,883 affordability gap
St. Ives: £339,878 affordability gap
Mousehole - St. Buryan: £220,478 affordability gap
Falmouth: £219,765 affordability gap
Least expensive locations for buying flats
St. Cleer - Pensilva: +£70,784 affordability gap
Lizard: +£62,872 affordability gap
Clay District: +£60,534 affordability gap
Camborne: +£41,284 affordability gap
Liskeard: +£40,247 affordability gap
Boscastle - Lesneweth: +£35784 affordability gap
Most expensive locations for buying terraced houses
Port Isaac - St.Endellion: £441,674 affordability gap
St.Ives: £360,286 affordability gap
St.Mawes - Porthscatho: £341,847 affordability gap
Fowey - Polruan: £309,638 affordability gap
Perranporth: £305,089 affordability gap
Wadebridge: £305,237 affordability gap
Least expensive locations for buying terraced houses
Camborne: £10,843 affordability gap
Looe - Pelynt: £35,209 affordability gap
St. Austell Bay: £38,758 affordability gap
Bodmin: £41,063 affordability gap
Camborne South - Beacon: £42,791 affordability gap
Redruth: £44,106 affordability gap