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Penzance House Prices Penzance House Prices

The average house price in Penzance is £288,795 using HM Land Registry data.

The average property price increased by £113,800 (53.34%) over the last 5 years and increased by £22,744 (7.47%) over the last 12 months.

Over the last year, there were 162 residential property sales – a decrease of 54 transactions (-33.33%) relative to the previous year. The majority of house sales (46) were in the £212,000 - £284,000 range. Then came properties in the £284,000 - £356,000 range, where 30 were sold within this price bracket.

Excluding fall throughs, properties are taking an average of 26 days to sell (from being listed to completion) and the average difference between asking and sold prices is £-10,934 (-2%).

In April 2024, there were 44 new estate agency instructions, 25 agreed home sales and 27 property price reductions.

Neighbouring Areas: Newlyn

Postcodes Covered: TR18, TR20

5-Year Average Property Prices in Penzance

53.34%

Property prices in Penzance increased by 53.34% 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 Penzance Over the Last Year

7.47%

Property prices in Penzance increased by 7.47% 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 Penzance - April 2024

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 21 to 40 days, the broad evidence suggests that properties are selling reasonably quickly after being initially advertised and the market is reasonably healthy. If you are prepared to wait to up to 6 weeks, and you are sure that your property is priced realistically, you should get an offer within this timeframe.

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 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 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 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 Penzance since 1995

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

Recent Property Sales in Penzance

AddressInitial PriceSold PricePrice ChangeFirst Listed DateSold DateDays to Sell
10 Kings Road, Penzance, Cornwall, TR18 4LG£550,000£500,000-£50,00010 Oct 202321 Mar 2024163 Days
7 South Place Folly, Penzance, Cornwall, TR18 4JB£325,000£320,000-£5,00012 Sep 202305 Mar 2024175 Days
36a, Rosevean Road, Penzance, Cornwall, TR18 2DX£295,000£280,000-£15,00021 Nov 202223 Feb 2024459 Days
1 Greenbank, Penzance, Cornwall, TR18 4ST£535,000£512,500-£22,50019 Jul 202316 Feb 2024212 Days
46 Daniel Place, Penzance, Cornwall, TR18 4DU£170,000£170,000£0012 Oct 202309 Feb 2024120 Days
25 Leskinnick Terrace, Penzance, Cornwall, TR18 2HB£195,000£185,000-£10,00030 Aug 202325 Jan 2024148 Days
Brioni, Castle Road, Penzance, Cornwall, TR18 2AX£415,000£390,000-£25,00015 Aug 202322 Jan 2024160 Days
45 Caldwells Road, Penzance, Cornwall, TR18 2BP£225,000£220,000-£5,00001 Sep 202318 Dec 2023108 Days
25 Penlee Street, Penzance, Cornwall, TR18 2DE£235,000£233,000-£2,00009 Oct 202315 Dec 202367 Days
8 Mennaye Court, Alexandra Road, Penzance, Cornwall, TR18 4LU£100,000£100,000£0013 Oct 202314 Dec 202362 Days
10 Manor Way, Heamoor, Penzance, Cornwall, TR18 3HX£250,000£250,000£0014 Jul 202308 Dec 2023147 Days
3 Polgoon Close, Tredarvah, Penzance, Cornwall, TR18 4JZ£350,000£312,500-£37,50018 Aug 202301 Dec 2023105 Days
71 Caldwells Road, Penzance, Cornwall, TR18 2BP£189,950£185,000-£4,95001 Aug 202324 Nov 2023115 Days
23 St Marys Street, Penzance, Cornwall, TR18 2DJ£280,000£250,000-£30,00026 May 202323 Nov 2023181 Days
10 St James Street, Penzance, Cornwall, TR18 2BT£190,000£182,500-£7,50030 Jun 202316 Nov 2023139 Days
12 Weethes Cottages, Penzance, Cornwall, TR18 2RP£235,000£235,000£0012 May 202314 Nov 2023186 Days
69 Pendennis Road, Penzance, Cornwall, TR18 2BA£300,000£300,000£0028 Jun 202310 Nov 2023135 Days
3a, Cardinnis Road, Penzance, Cornwall, TR18 4SB£135,000£123,750-£11,25031 Jul 202302 Nov 202394 Days
3 Redinnick Place, Penzance, Cornwall, TR18 4HP£300,000£290,000-£10,00028 Jun 202330 Oct 2023124 Days
32 Alverne Buildings, Penzance, Cornwall, TR18 2RS£205,000£200,000-£5,00031 Mar 202330 Oct 2023213 Days

Most Expensive Streets in Penzance

PostcodeStreetAreaAverageNo. of Sales
TR18 2AYLescudjackPenzance£695,0003
TR18 4PGLidden RoadPenzance£621,0003
TR18 4DJSouth ParadePenzance£615,2005
TR18 4LGKings RoadPenzance£568,3333
TR18 4PAMount LiddenPenzance£568,1254
TR18 4NYLaregan HillPenzance£565,0005
TR20 8TGCastle Horneck RoadAlverton£539,1663
TR18 4DWRegent TerracePenzance£522,2504
TR18 4PQDonnington RoadPenzance£511,0004
TR18 4LZAlexandra RoadPenzance£458,0449

Least Expensive Streets in Penzance

PostcodeStreetAreaAverageNo. of Sales
TR18 2FQCamberwell VeanPenzance£85,3333
TR18 2BQBakehouse ApartmentsHigh Street, Penzance£120,0004
TR18 2EHBread StreetPenzance£121,3754
TR18 2HRMarket Jew StreetPenzance£123,1254
TR18 2HZMarket Jew StreetPenzance£128,1663
TR18 2EZLeskinnick PlacePenzance£130,26714
TR18 2DNSt Philip StreetPenzance£134,0836
TR18 4JHChycelinAlverton Terrace£138,3754
TR18 3QRHeabrook ParcHeamoor£141,6667
TR18 3HGJamaica PlaceHeamoor£141,7504

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