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House Prices in TR18

The average house price in TR18 (Penzance) is £374,248 using HM Land Registry data.

The average property price increased by £87,416 (26.28%) over the last 5 years and increased by £17,515 (3.96%) over the last 12 months.

Over the last year, there were 250 residential property sales – a decrease of 39 transactions (-15.60%) relative to the previous year. The majority of house sales (71) were in the £222,000 - £294,000 range. Then came properties in the £150,000 - £222,000 range, where 57 were sold within this price bracket.

Excluding fall throughs, properties are taking an average of 200 days to sell (from being listed to completion) and the average difference between asking and sold prices is £-12,330 (-3%).

In March 2025, there were 43 new estate agency instructions, 28 agreed home sales and 36 property price reductions.

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.

Property Market Heat Gauge for TR18 (Penzance) - March 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)

Address	Initial Price	Sold Price	Price Change	First Listed Date	Sold Date	Days to Sell
41 Tredarvah Road, Penzance, Cornwall, TR18 4LB	£610,000	£600,000	-£10,000	30 Aug 2024	17 Feb 2025	171 Days
25 North Parade, Penzance, Cornwall, TR18 4SN	£695,000	£680,000	-£15,000	22 Aug 2024	17 Feb 2025	179 Days
16 Beachfield Court, Penzance, Cornwall, TR18 4NQ	£140,000	£132,500	-£7,500	15 Jun 2024	12 Feb 2025	242 Days
31 Cardinnis Road, Penzance, Cornwall, TR18 4RP	£269,500	£250,000	-£19,500	29 Aug 2024	10 Feb 2025	165 Days
16 St Marys Street, Penzance, Cornwall, TR18 2DJ	£242,500	£236,000	-£6,500	02 Oct 2024	31 Jan 2025	121 Days
14 St Francis Street, Penzance, Cornwall, TR18 2DP	£210,000	£200,000	-£10,000	07 Nov 2024	31 Jan 2025	85 Days
4 Charles Street, Newlyn, Penzance, Cornwall, TR18 5QB	£265,000	£255,000	-£10,000	02 Sep 2024	31 Jan 2025	151 Days
25 Rosevean Road, Penzance, Cornwall, TR18 2DU	£250,000	£230,000	-£20,000	03 Oct 2024	27 Jan 2025	116 Days
12 Treassowe Road, Penzance, Cornwall, TR18 2AU	£325,000	£312,500	-£12,500	01 Aug 2024	23 Jan 2025	175 Days
33 Cardinnis Road, Penzance, Cornwall, TR18 4RP	£269,500	£240,000	-£29,500	04 Jul 2024	06 Jan 2025	186 Days
8 Rosevale Estate, Penzance, Cornwall, TR18 4NF	£475,000	£455,000	-£20,000	18 Oct 2024	03 Jan 2025	77 Days
15 Quillet Road, Newlyn, Penzance, Cornwall, TR18 5QR	£390,000	£372,000	-£18,000	13 Aug 2024	12 Dec 2024	121 Days
7 Prospect Place, Penzance, Cornwall, TR18 2PS	£115,000	£100,000	-£15,000	01 Jul 2024	06 Dec 2024	158 Days
6 Harbour View Crescent, Penzance, Cornwall, TR18 2AZ	£375,000	£370,000	-£5,000	07 Sep 2023	03 Dec 2024	453 Days
2 Wellington Terrace, Penzance, Cornwall, TR18 4SS	£500,000	£500,000	£0	30 Apr 2024	02 Dec 2024	216 Days
4a, Pendrea Road, Gulval, Penzance, Cornwall, TR18 3ND	£425,000	£415,000	-£10,000	09 Sep 2024	29 Nov 2024	81 Days
10 Marine Terrace, Penzance, Cornwall, TR18 4DL	£375,000	£365,000	-£10,000	25 Jul 2024	29 Nov 2024	127 Days
4 Coastguard Crescent, Penzance, Cornwall, TR18 3AQ	£435,000	£400,000	-£35,000	27 Jun 2024	29 Nov 2024	155 Days
37 Adelaide Street, Penzance, Cornwall, TR18 2ER	£235,000	£225,000	-£10,000	19 Aug 2024	28 Nov 2024	101 Days
29 Reens Crescent, Heamoor, Penzance, Cornwall, TR18 3HW	£425,000	£410,000	-£15,000	07 Jun 2024	27 Nov 2024	173 Days

Most Expensive Streets in TR18 (Penzance)

Postcode	Street	Area	Average	No. of Sales
TR18 4DJ	South Parade	Penzance	£645,250	4
TR18 2HQ	Penrose Terrace	Penzance	£621,666	3
TR18 4PG	Lidden Road	Penzance	£621,000	3
TR18 2AY	Lescudjack	Penzance	£616,250	4
TR18 4LG	Kings Road	Penzance	£568,333	3
TR18 4PA	Mount Lidden	Penzance	£568,125	4
TR18 4NY	Laregan Hill	Penzance	£565,000	5
TR18 4DW	Regent Terrace	Penzance	£544,300	5
TR18 4PQ	Donnington Road	Penzance	£533,800	5
TR18 4LE	Tredarvah Road	Penzance	£498,666	3

Least Expensive Streets in TR18 (Penzance)

Postcode	Street	Area	Average	No. of Sales
TR18 3DW	The Flats, Jelbert Way	Penzance	£77,000	6
TR18 3DP	The Chalets, Jelbert Way	Penzance	£85,166	3
TR18 2FQ	Camberwell Vean	Penzance	£85,333	3
TR18 2GZ	Ocean Blue Apartments, Jennings Street, Penzance	Penzance	£113,726	5
TR18 2BQ	Bakehouse Apartments, High Street, Penzance	Penzance	£120,000	4
TR18 2HZ	Johns Place	Penzance	£124,000	3
TR18 2EH	Bread Street	Penzance	£124,583	6
TR18 2EZ	Leskinnick Place	Penzance	£126,484	16
TR18 2HR	Market Jew Street	Penzance	£131,000	4
TR18 4LU	Mennaye Court, Alexandra Road	Penzance	£139,000	3