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House Prices in TR18 House Prices in TR18 (Penzance)

The average house price in TR18 (Penzance) is £279,041 using HM Land Registry data.

The average property price increased by £95,098 (26.28%) over the last 5 years and increased by £19,050 (3.96%) over the last 12 months.

Over the last year, there were 224 residential property sales – a decrease of 67 transactions (-29.91%) relative to the previous year. The majority of house sales (66) were in the £220,000 - £290,000 range. Then came properties in the £150,000 - £220,000 range, where 47 were sold within this price bracket.

Excluding fall throughs, properties are taking an average of 177 days to sell (from being listed to completion) and the average difference between asking and sold prices is £-12,330 (-3%).

In January 2025, there were 31 new estate agency instructions, 22 agreed home sales and 40 property price reductions.

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

5-Year Average Property Prices in TR18 (Penzance)

26.28%

Property prices in TR18 (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 TR18 (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) - January 2025

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 81 to 100 days, the broad evidence suggests a very slow moving market. This can often be due to estate agency over-valuations out of sync with the realities, a notable market slowdown or a combination of both. In such scenarios, vendors may either choose to wait for the market to pick up (which may result in relisting the property at a later date). Those committed to selling will often need to drop the price to a level that will entice genuine homebuyer 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
6 Harbour View Crescent, Penzance, Cornwall, TR18 2AZ£375,000£370,000-£5,00007 Sep 202303 Dec 2024453 Days
2 Wellington Terrace, Penzance, Cornwall, TR18 4SS£500,000£500,000£030 Apr 202402 Dec 2024216 Days
4a, Pendrea Road, Gulval, Penzance, Cornwall, TR18 3ND£425,000£415,000-£10,00009 Sep 202429 Nov 202481 Days
10 Marine Terrace, Penzance, Cornwall, TR18 4DL£375,000£365,000-£10,00025 Jul 202429 Nov 2024127 Days
4 Coastguard Crescent, Penzance, Cornwall, TR18 3AQ£435,000£400,000-£35,00027 Jun 202429 Nov 2024155 Days
37 Adelaide Street, Penzance, Cornwall, TR18 2ER£235,000£225,000-£10,00019 Aug 202428 Nov 2024101 Days
51 Richmond Street, Heamoor, Penzance, Cornwall, TR18 3ET£270,000£270,000£013 Aug 202426 Nov 2024105 Days
Palanga, The Bowjey Hill, Newlyn, Penzance, Cornwall, TR18 5LN£455,000£436,000-£19,00013 Jun 202422 Nov 2024162 Days
3 Norton Terrace, Penzance, Cornwall, TR18 4HX£325,000£306,000-£19,00024 Jul 202422 Nov 2024121 Days
11 Jamaica Place, Heamoor, Penzance, Cornwall, TR18 3HG£175,000£175,000£015 Aug 202422 Nov 202499 Days
17 Faugan Road, Newlyn, Penzance, Cornwall, TR18 5DH£295,000£262,000-£33,00022 Mar 202420 Nov 2024243 Days
63 Heabrook Parc, Heamoor, Penzance, Cornwall, TR18 3QR£290,000£290,000£026 Jun 202420 Nov 2024147 Days
5 Gwedhennek, Gulval, Penzance, Cornwall, TR18 3NJ£580,000£545,000-£35,00028 Jun 202415 Nov 2024140 Days
21 St Marys Terrace, Penzance, Cornwall, TR18 4DZ£547,500£540,000-£7,50002 May 202415 Nov 2024197 Days
Burford, Alexandra Place, Penzance, Cornwall, TR18 4NE£520,000£515,000-£5,00008 Apr 202415 Nov 2024221 Days
5 Ridgevale Close, Gulval, Penzance, Cornwall, TR18 3RB£595,000£595,000£010 Apr 202415 Nov 2024219 Days
4 St Marys Terrace, Penzance, Cornwall, TR18 4DZ£520,000£510,000-£10,00027 Mar 202414 Nov 2024232 Days
12 Coulsons Buildings, Penzance, Cornwall, TR18 4DS£325,000£312,000-£13,00023 Jul 202408 Nov 2024108 Days
37 Gurnick Road, Newlyn, Penzance, Cornwall, TR18 5DG£375,000£370,000-£5,00026 Feb 202408 Nov 2024256 Days
2 Millfield, Gulval, Penzance, Cornwall, TR18 3DR£225,000£180,000-£45,00011 Dec 202325 Oct 2024319 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£533,8005

Least Expensive Streets in TR18 (Penzance)

PostcodeStreetAreaAverageNo. of Sales
TR18 3DWThe Flats, Jelbert WayPenzance£77,0006
TR18 3DPThe Chalets, Jelbert WayPenzance£85,1663
TR18 2FQCamberwell VeanPenzance£85,3333
TR18 2GZOcean Blue Apartments, Jennings Street, PenzancePenzance£113,7265
TR18 2BQBakehouse Apartments, High Street, PenzancePenzance£120,0004
TR18 2HZJohns PlacePenzance£124,0003
TR18 2EHBread StreetPenzance£124,5836
TR18 2EZLeskinnick PlacePenzance£126,48416
TR18 2HRMarket Jew StreetPenzance£131,0004
TR18 4SBCardinnis RoadPenzance£143,5833

Explore TR18 (Penzance) using map

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