Second homes on the rise in Cornwall
Recent research by Knight Frank shows that despite the recession, there has been a steady rise of second homes since 2007, with over 6,000 more properties now on the market, marking the return of long term growth.
The number of second homes rose by 2.6 per cent in 2009, despite a falter of 0.4 per cent in 2008. 9.6 per cent of these second homes are registered in North Cornwall.
North Cornwall is the second highest ranking hotspot area in England for those who own a second home. A range of factors are encouraging people to explore investing in the UK instead of Europe; including the low interest rates and the weaker pound. The recent volcanic ash cloud, which grounded all flights to and from the UK, is also expected to fuel demand.
Newquay, in particular, is an ideal location to invest in; it’s Cornwall’s top destination and offers something for everyone all year round. Known as the experience capital of the UK, Newquay offers the ultimate escape from The City and with more flights now available, the area is becoming more accessible.
Nicola Markham, Sales Director of Acorn Blue comments “Newquay is the ideal destination for those wishing to escape the stresses of City life. The new flights to Newquay has improved accessibility for people who own a second home in the UK which is enabling them to have weekend breaks as well as longer holidays. Buyers have a new found confidence in the property market since the recession; we have noticed an increase in enquiries, indicating that potential purchasers feel now is the time to buy.”
The demand for new homes is likely to continue throughout 2010, but the potential growth will be determined by the supply of properties for sale. For those seeking a unique purchasing opportunity in Newquay haute couture Cornish-based developer Acorn Blue is offering investors seeking both a lifestyle and financial investment a collection of stunning apartments at the Zinc, Pearl, Azure and Cribbar developments located on the exclusive Headland Road – dubbed Newquay’s Millionaires Row, which overlook the world famous Fistral Beach and Newquay Links Golf Club.
These four stunning developments offer a range of styles, from the contemporary modern apartments at Zinc, the boutique style homes at Pearl or the amazing views from the private terrace at Cribbar, there is something to suit everyone. Those with large families or who enjoy entertaining friends should also consider the five-bedroom penthouse at Azure, which occupies the whole fourth floor.
These landmark schemes offer a new standard in beachside living, complete with striking architecture and chic designs – a calibre of beachside properties not seen in the UK coastal market ever before. From the initial concept through to interior design each new home is designed to maximise its very special location together with the lifestyle of its residents. Offering luxury beachside living and excellent rental returns of up to 6% on selected apartments these are ideal for second homes.
Gail Streatfeild, Knight Frank, comments: "North Cornwall has seen the emergence of several new upmarket hotels, restaurants and facilities which all add to the appeal of the area. This year we have seen an increased interest in properties at the £350,000 to £500,000 level in good coastal locations. Sea views are on many buyers wish-lists and they are attracted to the quality and style of the Acorn Blue developments."
For further information, log onto: acornblue.co.uk
