Market outlook for TR1
Key indicators for buyers
The TR1 market is moderately favourable for buyers. Prices have softened (-11.9%), which could present a buying opportunity. Affordability has improved from a peak of 11.0x in 2021 to 8.6x today. Rising rents (£1,005/mo, +6.0%) mean the cost of waiting is real.
Price trends
Yearly averages · HM Land Registry Price Paid Data
Prices by property type
2026averages · HM Land Registry Price Paid Data
Affordability ratio
House price ÷ median earnings · ONS data
Affordability data shown for wider Cornwall area
A home in Cornwall costs 8.6x the local median salary — stretched, improving from a peak of 11.0x in 2021.
Rental trends
Average monthly rent · ONS Private Rental Index
Rental data shown for wider Cornwall area
Average monthly rent in Cornwall is £1,005, up 6.0% year-on-year. Rents have risen consistently over the past five years.
Monthly mortgage
2yr fixed · 75% LTV · 25yr term · BoE avg. rate
Based on the average Cornwall price of £299,679 with a 25% deposit (£75k), a 2-year fixed mortgage at 3.97% costs around £1,183 per month.
Rent vs buy snapshot
Monthly cost comparison based on current data
Uses TR1 avg. price with Cornwall rental data
Monthly mortgage payments (£1,183) are £178 more than renting (£1,005). However, buying requires an upfront deposit of £75k — it would take around 12 years to recoup that cost compared to renting and investing the difference.
Recent sales
Latest transactions · HM Land Registry Price Paid Data
| Address | Type | Price | Date |
|---|---|---|---|
8, JAMES PLACE TR1 1JL | Terraced | £205,000 | 23 Jan 2026 |
1, LYS LANDER, TREGOLLS ROAD TR1 1GR | Flat/Maisonette | £135,000 | 19 Jan 2026 |
31, KENWYN STREET TR1 3BU | Terraced | £210,000 | 19 Jan 2026 |
16, EVEA CLOSE TR1 3XA | Semi-detached | £287,500 | 16 Jan 2026 |
5, SCHOLAR ROAD TR1 3GJ | Semi-detached | £335,000 | 16 Jan 2026 |
2, CHIRGWIN ROAD TR1 1TT | Semi-detached | £370,000 | 14 Jan 2026 |
25, HURLAND ROAD TR1 2BU | Detached | £495,000 |
Data sources (all free & public): HM Land Registry Price Paid Data & UK House Price Index · ONS Housing Affordability Ratios · ONS Private Rental Index · Bank of England Quoted Household Interest Rates · HMRC Monthly Property Transactions
Contains HM Land Registry data © Crown copyright and database right 2021. This data is licensed under the Open Government Licence v3.0.