i'm another possible Newquay investor & have been surprised at the little amount of info i've been able to find. we're in a slightly different position though as we are hoping to eventually move down to Cornwall within 10 years & this would just be our 1st step into the market.
there are a few people on MoneySavingExpert that are prepared to offer their insight (just be prepared for a few flames if BTL is mentioned at all!). i've found useful info on home dot co dot uk & propertysnake
we've been looking at the developments overlooking Fistral, stunning location & surely only ever going to be a limited number of properties built there.
as we're curently thinking of letting out as holiday home to try & cover some costs, we know it will probably run as a loss but seeing as it's a long term goal & not a money making scheme, we've come to terms with this.
i've been very worried at the information i've found up to now that the market there just seems saturated. even the 4-5 star market we're looking at is getting poor bookings. some of the 2 bed properties have had a few weeks booked for july-aug, but apart from that things are looking sparse.
lots of the new-builds are now coming on to the market from the flippers (sorry Sharkboy!) but nothing seems to be selling. i know the market can be slow under normal circumstances, but with the crunch, total standstill seems here.
i found some figures from around 18 mths ago that estimated a third each of new builds were going to 2nd home owners, Holiday BTL's & flippers.
2nd home people that seem to be awash with money & able to only visit 1-2 times a year aren't really affected. but BTL & flippers, there seems far too many properties for the current number of interested people in a very seasonal market.
we're holding on for the next few months & will watch the market in general (& the local movement in Cornwall with great interest), i suspect a lot more for sale come september & very little movement...
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