“Savills agents in coastal areas
Focus on
have been inundated with
Rare opportunities
interest from cash buyers”
when many looked for a quick turnaround. Cornwall, and around the Fal, Helford,
Jonathan Cunliffe
As a result, properties are more difficult Fowey and Camel estuaries. These are
Savills Cornwall
to sell now. In 2007, people would view where prices are highest and holding.
“Many of the properties in coastal
once and pay the asking price to secure “We have recently experienced an
regions don’t come to the market
the property. Now they’re more likely excellent response to two waterfront
very often, sometimes only once per
to view two or three times and houses that have just launched to the
generation, and this makes them
negotiations will take up to a week. market, Pencalenick House on the
highly desirable.
It’s a much slower process. Fowey River and Trevose House, near
“You can’t choose when to buy
The main challenges across the UK Padstow,” explains Martyn Rohrs, of
these properties. They are genuinely
are the shortage of new instructions and Savills Cornwall. Also, Savills Canford
unique opportunities, which buyers
obtaining finance. While these factors Cliffs has just sold The Beach House,
can take advantage of or miss out
do also affect coastal areas, tourism a contemporary, award-winning
on and regret.
provides a protective advantage. Keith detached residence with a guide price
“Recently, a property in Cornwall
Fensom, of Savills Canford Cliffs, says, of £2.95 million.
with its own quay and waterside
“A number of cash buyers have started
cottage that hadn’t been offered to
to invest back into property with second Long-term investments
the market for 50 years, sold quickly
‘holiday home’ purchases. This is helped It’s clear that many buyers are sensing
for close to the asking price.
by the increased numbers of people looking that the market has finally corrected
“We’ve got two others coming
to holiday in the UK due to the poor itself and that it’s now a good time to
to the market now, one of which
exchange rates.” negotiate a favourable deal. Savills agents
hasn’t been for sale since 1930 and
in coastal areas have been inundated
the other is available for the first time
Prices holding in hotspots with interest from cash buyers, searching
ever. We’re expecting considerable
As well as Sandbanks, current hotspots for a safe place to invest their cash in a
interest from buyers far and wide.”
in coastal regions include St Mawes, in long-term investment. n
savills ultimate property collection 53
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