Iâ€™m sure you know the property market has been considerably busier than normal in recent months, like all agents it has meant I have been exceptionally busy.
So anyway, whatâ€™s the latest news from Cornwall? Â You would have been hard-pressed not to have noticed Cornwall has been on the international stage in the last month as we hosted the G7 Summit.Â Do you know why Boris chose Cornwall? And no, itâ€™s not because he wanted to honeymoon here, although we are a fabulous destination for that with so many beautiful beaches, hidden coves and glorious countryside locations. Boris chose Cornwall as his father was brought up in Penzance and he believes there is nowhere better to showcase the best of what the UK has to offer, I have to agree.
The eyes of the world have been upon so many areas of Cornwall.Â Not only did we have world leaders staying in Carbis Bay, but we also had the world press right here in Falmouth.Â And the icing on the cake was our wonderful HRH Queen Elizabeth and other leading royals, who all came to visit the Eden Project. If you havenâ€™t been there yourself, you must add it to your must-see list of Cornish destinations.
The aftermath of the G7 Summit and visiting dignitaries is already having Â a massive impact on the tourist industry here and a knock-on effect on the property market too. It will be interesting to see if prices continue to rise at such a rate, and for how long.Â Demand is, unfortunately, still outstripping supply and to secure your dream home you will have to pay full price, and sometimes more. Getting to see a property early is also immensely important, but of course, that is where I can help.
Malcom Bell CEO of Visit Cornwall and Kim Conchie CEO of Cornwall Chamber of Commerce both believe that we will now attract the type of tourist with more cash in their pocket, such as the Americans who would normally go to London, Stratford Upon Avon, the Lake District or The Cotswolds. Letâ€™s hope they spend well when they come.
The road map out of lockdown has seen our beloved beachside restaurants open again, although many are struggling due to lack of staff and now only opening on limited days or for limited hours.Â Could it be a reflection of the low wages in the hospitality trade? Could it be that landlords have given notice to long-term tenants to put their properties on AirBNB during the peak season and staff have nowhere local to stay? Could it be the lack of respect for staff being shown by impatient customers is causing staff to leave? Â Other countries see the hospitality trade as a profession and an honour to serve, with wages and tips reflecting this, thus giving staff a sense of being valued. I donâ€™t know what the answer is but something needs to be done soon to help those hospitality businesses struggling. Â Cornwall is famous for itâ€™s foodie vibe, locally grown/sourced produce and amazing restaurants.
The conveyancing process also continues to frustrate us all, with local searches taking weeks, although Cornwall is not taking as long as some other councils. However, both solicitors and Land Registry also have a backlog of work to catch up on.
With the first phase of the stamp duty holiday now at an end (ended 30th June â€˜21), hopefully it will give them time to play catch up before the final phase ends in September.Â By the way, it will still save you up to Â£5,000 if you can complete on your property purchase before the end of Septâ€™21, so it is still worth taking advantage of if you can. If youâ€™re interested in finding out more around the impact of the stamp duty cuts and scaling back, take a look at this article where it discusses whether the property market will stall or just pause.
Finishing on a happier note, the highlight of my month has to have been a call from a lady who needed my help to relocate with her young children after a very painful divorce, which has also left her with very little money.Â She owns a bespoke jewellery business so offered me diamonds for my services!Â I have always been fond of the barter system, and diamonds are of course a girlâ€™s best friend!
Until next time, stay well, enjoy the sunshine and letâ€™s hope for a full and safe reopening on July 19th!
Hope to see you here soon,