Newquay - A retreat for the affluent?

Newquay is a town of contrasts.  Along the coastline can be found various high value properties, close to the shore and enjoying excellent views of the sea. Over the years developments have resulted in new apartments and town houses, catering to the demands of those with money to splash.  Some of these properties are lived in on a permanent basis others are part of the holiday sector, used as second homes or holiday lets.

 

The output areas with higher levels of unoccupied properties are located in a belt from the Gannel, Pentire, Fistral, overlooking Towan and Great Western beaches, then fringing Porth beach and beside Whipsiderry beach. [Data based on 2011 census figures].

 

The offer

The advertising material clearly indicates what these high value properties are designed for.

 

“From the breathtaking clifftops to golden sands, Newquay is known as the surf capital of England and is one of the most visited towns in Cornwall. If you’re a fan of water sports, vibrant nightlife and enjoy the hustle and bustle, Newquay could be the perfect place for your Cornwall holiday home.”

 

https://www.parkdeanresorts.co.uk/discover-more/places/buy-holiday-home-cornwall/

 

"Newquay: The third Cornish location in the second homes top five, Newquay has been popular with surfers and festival-lovers for a while. Suited to water lovers, the famous beach caters to those who enjoy paddle boarding, surfing, sea kayaking and sea swimming. Detached properties are currently selling at an average of £468,000, and flats at £236,000."

 

[Property Investor Today, 25th August 2021].  https://www.propertyinvestortoday.co.uk/breaking-news/2021/08/insight-where-are-the-uks-top-20-towns-for-second-homes/

  

Why buy property in Cornwall?

“Kernow’s climate, geography, coastline and rich panoply of attractions cumulate to make the Duchy Britain’s number one holiday destination. Once you’ve been, it’s likely you’ll return again and again. The idea of owning your very own home here tends to come from a longing to linger. Equally, the demand for staying in a Cornish holiday home continues to grow. As more visitors descend on the county, more accommodation is required. Whether you buy property to create a home away from home in Cornwall or to provide just that for paying guests, it’s typically a sound investment.

Cornish homes are not especially expensive.”

 

[Cornwall Home and Garden show.  https://www.cornwallhomeshow.co.uk/reasons-buy-holiday-home-cornwall/]

 

“A spacious three double bedroom apartment located on the Pentire Peninsula  …. is ready to become the perfect seaside home or investment.”

 

Turning to the benefits of properties used as holiday lets various attractions are cited:

 

“An exclusive development of luxury townhouses,”

 

“…  a quiet sanctuary but still only a 10-minute walk away from the town’s shops and restaurants,”

 

“ … in a fantastic position, with some of Newquay’s best beaches including Fistral being within easy reach"

 

Close proximity to beaches, shops and pubs/restaurants and as a base for exploring other areas and the appeal of surfing are all regarded as positive points.

 

Conclusion

In this context, Newquay is seen as a place of leisure, an investment opportunity.  Ideal for those with the resources to benefit, yet is this the best option for Newquay or for Cornwall. What are the implications for residents looking for housing?  Is such an economic base sustainable?  Do we need a different approach.