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House Prices in TR18 House Prices in TR18 (Penzance)

The average house price in TR18 (Penzance) is £344,700 using HM Land Registry data.

The average property price increased by £112,266 (26.28%) over the last 5 years and increased by £22,494 (3.96%) over the last 12 months.

Over the last year, there were 196 residential property sales – a decrease of 98 transactions (-50.00%) relative to the previous year. The majority of house sales (57) were in the £226,000 - £302,000 range. Then came properties in the £150,000 - £226,000 range, where 44 were sold within this price bracket.

Excluding fall throughs, properties are taking an average of 71 days to sell (from being listed to completion) and the average difference between asking and sold prices is £-9,742 (-2%).

In Oct 24, there were 70 new estate agency instructions, 43 agreed home sales and 33 property price reductions.

Nearby Postcodes: TR13, TR17, TR19, TR20, TR26, TR27

5-Year Average Property Prices in TR18 (Penzance)

26.28%

Property prices in Penzance increased by 26.28% in last 5 years.

The trend shows the general price tendency over the last 5 years, ignoring all month-to-month fluctuations where anomalies - typically over or underpriced property sales - can skew results. These monthly variations typically do not have any long-term relevance.

We have used linear regression method. The volume of sales in a month is used to put more weight on months with a larger number of properties sold. Additionally, weighting decreases the impact of months with low sales volumes as well as the most recent month - which may consist of incomplete data. Such months have a higher variation of average sale values which may conceal the underlying trend.

From a statistical perspective, we use the least squares method to fit the trend line and weights are equal to the volume of sales squared. The volume of sales is not shown explicitly in the above plot. Also note the time lag for HM Land Registry data to appear (typically 2 to 3 months).

Average Property Prices in TR18 (Penzance) Over the Last Year

3.96%

Property prices in Penzance increased by 3.96% in last 12 months.

The trend shows the general price tendency over the last 12 months, ignoring all month-to-month fluctuations where anomalies - typically over or underpriced property sales - can skew results. These monthly variations typically do not have any long-term relevance.

We have used linear regression method. The volume of sales in a month is used to put more weight on months with a larger number of properties sold. Additionally, weighting decreases the impact of months with low sales volumes as well as the most recent month - which may consist of incomplete data. Such months have a higher variation of average sale values which may conceal the underlying trend.

From a statistical perspective, we use the least squares method to fit the trend line and weights are equal to the volume of sales squared. The volume of sales is not shown explicitly in the above plot. Also note the time lag for HM Land Registry data to appear (typically 2 to 3 months).

Property Market Heat Gauge for TR18 (Penzance) - Oct 24

Our Property Market Heat Gauge looks at how long properties in your postcode district have been on the open market before being changed to sold 'Subject to Contract' ('STC') or 'Under Offer' on Rightmove (the UK's leading property portal).

At 61 to 80 days, the broad evidence suggests a slow moving market. This can often be due to estate agency over-valuations out of sync with the realities, a market slowdown or a combination of both. In such scenarios, some vendors may either choose to wait for the market to pick up (which may result in some relisting the property at a later date). Others simply reduce the price to a level that will entice more buyer interest or approach a sell house fast or auction company like Property Solvers.

Please note that this is not an indicator of how quickly property sales are taking to complete (i.e. to go through the whole conveyancing process). This measurement also does not take into account the risk of home sales falling through.

No. of New Instructions Over the Last 12 Months in TR18 (Penzance)

Using local estate agency reported data, this chart illustrates the number of properties that have come on to the market.

No. of Agreed Home Sales Over the Last 12 Months in TR18 (Penzance)

Using local estate agency reported data, this chart illustrates the number of property sales agreed. Note that these figures are not fully reflective of properties completed (sold and registered as such at HM Land Registry).

No. of Properties with Price Reductions in TR18 (Penzance)

Using local estate agency reported data, this chart illustrates the number of properties which have been seen their prices dropped (typically due to a lack of buyer interest).

Average Annual House Prices in the TR18 (Penzance) Postcode since 1995

Using HM Land Registry data, this chart displays average annual house prices in the TR18 postcode area since 1995.

Recent Sales in TR18 (Penzance)

AddressInitial PriceSold PricePrice ChangeFirst Listed DateSold DateDays to Sell
24 Richmond Street, Penzance, Cornwall, TR18 2PP£275,000£265,000-£10,00013 May 202416 Aug 202495 Days
24 Jack Lane, Newlyn, Penzance, Cornwall, TR18 5HZ£225,000£200,000-£25,00008 Dec 202306 Aug 2024242 Days
7 St Marys Terrace, Penzance, Cornwall, TR18 4DZ£699,950£685,000-£14,95001 Mar 202426 Jul 2024147 Days
8 Pendrea Road, Gulval, Penzance, Cornwall, TR18 3ND£365,000£360,000-£5,00009 Nov 202319 Jul 2024253 Days
11 St Philip Street, Penzance, Cornwall, TR18 2DN£250,000£246,000-£4,00017 Apr 202415 Jul 202489 Days
2 Norton Terrace, Penzance, Cornwall, TR18 4HX£310,000£305,000-£5,00012 Feb 202415 Jul 2024154 Days
3 Reens Road, Heamoor, Penzance, Cornwall, TR18 3HP£385,000£376,000-£9,00022 Mar 202408 Jul 2024108 Days
7 Penare Terrace, Penzance, Cornwall, TR18 2DT£395,000£350,000-£45,00023 Feb 202405 Jul 2024133 Days
17 Pendennis Road, Penzance, Cornwall, TR18 2BA£250,000£240,000-£10,00026 Feb 202405 Jul 2024130 Days
2 Reens Crescent, Heamoor, Penzance, Cornwall, TR18 3HW£400,000£388,500-£11,50027 Feb 202419 Jun 2024113 Days
3 Nicholas Parc, Heamoor, Penzance, Cornwall, TR18 3QP£150,000£133,000-£17,00002 Jan 202418 Jun 2024168 Days
Rock Hall, Rock Terrace, Heamoor, Penzance, Cornwall, TR18 3JJ£425,000£422,500-£2,50009 Feb 201807 Jun 20242310 Days
9 Victoria Place, Penzance, Cornwall, TR18 4DB£475,000£450,000-£25,00026 Oct 202303 Jun 2024221 Days
2 Chycornick Cottages, Gulval, Penzance, Cornwall, TR18 3BT£295,000£275,000-£20,00003 Feb 202431 May 2024118 Days
25 Alma Place, Heamoor, Penzance, Cornwall, TR18 3ES£230,000£230,000£0025 Jan 202429 May 2024125 Days
47 Gwel Lewern, Eastern Green, Penzance, Cornwall, TR18 3AX£325,000£325,000£0024 Oct 202328 May 2024217 Days
29 Daniel Place, Penzance, Cornwall, TR18 4DU£279,950£267,500-£12,45029 Nov 202324 May 2024177 Days
1 Sona Merg Cottages, Heamoor, Penzance, Cornwall, TR18 3HE£340,000£316,400-£23,60008 Sep 202310 May 2024245 Days
Westholme, Clements Road, Penzance, Cornwall, TR18 4LJ£575,000£530,000-£45,00012 Dec 202309 May 2024149 Days
12 Alexandra Gardens, Penzance, Cornwall, TR18 4SY£375,000£360,000-£15,00012 Jan 202426 Apr 2024105 Days

Most Expensive Streets in TR18 (Penzance)

PostcodeStreetAreaAverageNo. of Sales
TR18 2AYLescudjackPenzance£695,0003
TR18 4DJSouth ParadePenzance£645,2504
TR18 2HQPenrose TerracePenzance£621,6663
TR18 4PGLidden RoadPenzance£621,0003
TR18 4LGKings RoadPenzance£568,3333
TR18 4PAMount LiddenPenzance£568,1254
TR18 4NYLaregan HillPenzance£565,0005
TR18 4DWRegent TerracePenzance£544,3005
TR18 5QPRestormel Road, NewlynPenzance£540,0003
TR18 4PQDonnington RoadPenzance£511,0004

Least Expensive Streets in TR18 (Penzance)

PostcodeStreetAreaAverageNo. of Sales
TR18 3DWThe Flats, Jelbert WayPenzance£79,4005
TR18 3DPThe Chalets, Jelbert WayPenzance£85,1663
TR18 2FQCamberwell VeanPenzance£85,3333
TR18 2BQBakehouse Apartments, High Street, PenzancePenzance£120,0004
TR18 2EHBread StreetPenzance£126,1005
TR18 2EZLeskinnick PlacePenzance£126,58914
TR18 2HRMarket Jew StreetPenzance£131,0004
TR18 3HGJamaica Place, HeamoorPenzance£140,6663
TR18 4SBCardinnis RoadPenzance£143,5833
TR18 4JHChycelin, Alverton TerracePenzance£147,8333

Explore TR18 (Penzance) using map

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