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Five new property millionaires in Cornwall and Devon every day

By CMScott  |  Posted: December 21, 2013

By Scott Hamilton

  • Millionaires' playground? Stunning St Ives

  • Exclusive - Helford

Comments (3)

Cornwall has 529 property millionaires and by tomorrow it will be more, according to a new research.

The study shows the number of property millionaires in the Cornwall and Devon rose by five per day in 2013.

Despite tough times for most, the last year has seen 1,866 new property millionaires in the region, bringing the total up to 13,960 across the two counties - a 15% increase.

In Cornwall there were 529 property millionaires while in Devon there are 919.

Nationally, there were 92,985 new property millionaires out of a total of 393,127, according to property website Zoopla.

The figures will add fuel to concerns about people born in Cornish towns finding it hard to buy and live where they are from and where their support networks are.

In towns like Fowey, Padstow and Looe and villages like Helford, Mevagissey and Rock, many locals have to move to find somewhere to live.

Places like St Ives have houses going for up to £5m and numerous "exclusive" developments springing up that are beyond the reach of first time buyers in a region were much work is seasonal and low paid.

Andrew George MP recently called on volunteers striving to create a Neighbourhood Plan for St Ives to refuse to be deterred from those attacking their plans.

The St Ives Neighbourhood Plan is a direct response to the boom in high end development and soaring house prices in the town that has seen even car parking spaces become unattainable for locals - with one roadside parking space last year in posh Belyars Terrace going for more than £65,000.

Richard Copus, South West spokesman for the National Association of Estate Agents, said: “There’s movement now definitely in prices again. In terms of property millionaires, of course we have got them in places like parts of Torbay, but not a very high percentage of house prices are at the top end of course. The top end hasn’t been particularly busy in the last couple of years. I think prices will probably go up next year.”

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  • break  |  December 21 2013, 6:44PM

    Property millionaires,as in they own a property worth more than a million of £'s,or they made millions of £'s through building properties,or both?

    Rate   1
  • nickthompson  |  December 21 2013, 11:33AM

    I know two of them, one helps run the soup kitchen in Falmouth, the other the food bank in Penzance.

    Rate   8
  • Newquaygreen  |  December 21 2013, 10:46AM

    You would think by the way this is reported it is a new story. This has been going on for many years across the country. Try buying a house in a leafy cotswold village for example. Much dearer than cornish villages

    Rate   6