Welcome to LL & Co’s Cornwall Property Market Report for July 2025. We keep a close eye on what’s happening so you don’t have to, whether you’re buying, selling, renting or investing in Cornwall.
UK Housing Market: July 2025 Overview
After June’s sharp dip, UK house prices edged back up in July. Nationwide reported a 0.6% monthly rise, taking the average property price to £272,664, up slightly from £271,619 in June. Annual price growth now sits at 2.4%, reflecting a stabilising market after several months of volatility.
Improved mortgage affordability is playing a role. The average five-year fixed rate has dropped to around 4.3 to 4.4%, and the price-to-income ratio is now around 5.75 times, the most affordable it has been in more than a decade.
The Bank of England is expected to cut interest rates in early August, which could encourage more buyer activity. But while buyer enquiries are still strong, the number of new listings is at a ten-year high, giving buyers more choice and slowing overall price growth.
UK Rental Market: July 2025 Snapshot
ONS figures for June show average UK private rent rose by 6.7% year-on-year to £1,344. That’s down from 7.0% in May, marking the sixth consecutive month of slowing rent inflation.
In England, average rents were £1,399, up 6.7%. Scotland came in at £1,022, up 4.8%, and Wales at £814, up 8.2%. The South West continues to sit just below the UK average, with typical rents around £1,181.
With national inflation easing and the Renters’ Rights Bill still under review, landlords are being more cautious with pricing and tenancy structures this summer.
Cornwall Property Market: July 2025
House Prices
The market in Cornwall remains steady but subdued. ONS data for May puts the average house price at £281,000, broadly flat compared to this time last year. Plumplot reports an average of £340,000 across the past 12 months, with sales volumes down 12.7% year-on-year.
Property Type Breakdown
- Detached: £427,000
- Semi-detached: £283,000
- Terraced: £231,000
- Flats: £154,000
First-time buyers are typically paying around £233,000. Mortgage buyers are averaging £275,000 and cash buyers around £290,000.
Time on Market
Homes in Cornwall are taking longer to sell compared to earlier in the year. Increased listings and a more cautious buyer pool are creating more competition among sellers. Realistic pricing is proving key.
Cornwall Rental Market: July 2025
ONS data for June puts the average private rent in Cornwall at £966 per calendar month, up 7.8% compared to last year. That is still below the national average, but rising steadily.
Average Rent by Size
- 1-bed: £663
- 2-bed: £849
- 3-bed: £1,038
- 4+ beds: £1,462
Average Rent by Type
- Flat or maisonette: £783
- Terraced: £998
- Semi-detached: £1,032
- Detached: £1,241
Listings and Trends
Rental supply is up again. In July, there were 486 live listings in Cornwall, with 185 added in the last 14 days. This is up from 475 listings and 172 new entries in June. The average rent has crept up to £1,234 per month. With more choice on the market, tenants are in a stronger position.
Spotlight on Truro
Property Prices
The average sold price in Truro over the past year is £343,726, down around 2% compared to the same time last year. Detached homes are averaging £499,372. Terraced and semi-detached properties are typically priced around £317,000 to £318,000.
Rental Market
1-bed flats in central Truro tend to rent for £700 to £800 per month. Three- and four-bed houses in the outskirts or larger family areas are achieving £1,200 to £1,400 depending on condition and location.
Supply and Demand
There has been a modest increase in rental supply across Truro. The most in-demand properties remain well-located 2- and 3-bed homes near the city centre and college zones. Lettings are taking slightly longer than earlier this year, reflecting a wider market shift across Cornwall.
In Summary
- House Prices: A slight recovery in July after June’s fall. Buyers have more choice and more leverage, while affordability is improving.
- Rentals: Cornwall rents continue rising slowly, with average rents now just over £1,200 pcm. Listings are up, giving tenants more options.
- Outlook: Further mortgage rate cuts could trigger more activity later this summer. In the meantime, sellers need sharp pricing, and landlords should watch legislative changes closely.
Want to know more? Contact LL & Co for tailored advice, whether you’re selling, renting, buying or investing.
