Property in Cornwall vs. London
Did anyone else watch that Million Pound Properties TV programme on Channel 4 this month?
To say it was insane would be an understatement. It’s just ridiculous to think that in the UK, £1 million will either buy you a 1 bedroom ex-council flat in London, or a 15 bedroom stately home/castle by a loch in Scotland!
Obviously Channel 4 chose the two furthest extremes they could in order to point out the issue, but you get the idea. London property prices are crazy! However, I have it on good authority that this is also the case in many large cities in America too; it’s not just us.
It might be the fact that I have grown up living in the Cornish countryside within 10 minutes of the stunning coastline that makes me biased, but I can’t help but wonder why you would choose to have less house/flat for your money, just to live in a super-busy, polluted, noisy and expensive city?
I know the basic reasons: salaries are higher, opportunities are more bountiful, shops, cafes, galleries, museums and nightclubs are on your doorstep. I guess that makes sense.
But what about this: much better value property, stunning and peaceful countryside, beaches to lounge on or do watersports, a sense of community and a more relaxed atmosphere. Am I selling it to you yet?
I know which one I’d rather choose.
Through my own research on Rightmove, I have put together some examples of property that is currently for sale in both Cornwall and Central areas or London so you can compare for yourself:
£1,000,000: 1 Bedroom Apartment, SW1 (London):
Highlights: 48 square metre first floor flat with secure entry, lift access and a further private store room on the lower ground floor. Walking distance to Piccadilly Circus, Covent Garden, Soho & Mayfair.
£1,000,000: 4 bedroom equestrian farm with 7.5 acres of land, Bodmin (Cornwall):
Highlights: 337 square metre farm with 4 bedrooms (3 en suite), stable block, garage, courtyard, lawned gardens and 7.5 acres of land.
Also, here’s the most you’ll pay for a 1 bedroom flat of similar spec in Cornwall’s main city, Truro:
£154,950: 1 Bedroom Apartment, Truro (Cornwall):
Highlights: Second floor, 1 bedroom flat with views towards the Cathedral.
(I realise it is hard to compare when this flat is not within walking distance to England’s most famous shopping districts and landmarks! Truro is one of the smallest cities you’ll find yourself in, with a lazy atmosphere, but a good mix of independent and retail chain shops and restaurants.)
Let’s talk sensible prices now. If we try and find a middle ground for the average cost of a home in London and in the rest of England, we’d probably be looking at around £280,000. So what can you get for that kind of money in London vs in Cornwall?
£280,000: Studio flat in SW6 (London)
Highlights: 27 square metre studio flat with private parking, porter and lift. Within walking distance to the River Thames, this is as central as you can get for this money in London.
£280,000: 4 bedroom semi-detached house, Connor Downs (Cornwall)
Highlights: 103 square metre, 4 bedroom, two bathroom house with large garden and parking for two cars. Sea and countryside views; 5 minute drive from stunning Gwithian and Godrevy beaches.
Which lifestyle would you choose and why?
Sea views for £280k, I’m there! I used to live in London and remember looking at prices and comparing them to home. It was ridiculous that the one bed flat in E15 was only slightly cheaper than a 3 bed house I’ve just bought in Hampshire. Although where I would like to live in Hampshire is ridiculously expensive and nearly as bad as London.
Yikes!
I saw a map the other day showing the house prices in different parts of the country; it was really interesting! You’re right though, it’s not just London. And Cornwall certainly isn’t the cheapest either, but in my opinion, you get a lot more awesomeness as part of the package. I’ve never been to Hampshire but I do understand some parts are very expensive! x
I won’t tell you what £280k would buy you in my area, i’m speaking huge, huge huge! I brought my 3 bed house for what would be £45k, that was one of the key factors in making the US home because we’d never have that chance in the UK that’s for sure. I can see the appeal of London living because I really miss city life, suburban can get a bit samey, but I couldn’t give up garden space now!
yeah, it’s so crazy how things are valued differently everywhere…you can get so much more for a cheaper price!
Much Love | Trillu
You sure can! It really does depend on your priorities though; some people really want or need to be in the city, in which case they have no choice! x
This is so true, it’s mad to see the difference in what your money can buy! I love looking at houses online just to dream of one day being able to afford something perfect (and for me the best thing about Adam and I moving somewhere bigger will be that I can then justify having enough to space to get a dog!) Alice xxx
http://Www.woodenwindowsills.co.uk
Haha that’s exactly what I did! So glad we managed to find an afforadable place with a garden so that we could get Pepper :) x
The price difference is insane! I’m from Ireland and a few of my friends have moved to the UK recently to teach. I know about 6 who went to London and one guy went to Kent. I can’t understand why they nearly all chose London. I mean I know the salary is slightly higher and the idea of living in an amazing city like London was probably an attraction but I feel like you’d be struggling so hard to get by with the cost of living that that wouldn’t really matter. I think if I ever went I’d choose somewhere more rural! X
Sinead – sineaddreamingagain.blogspot.ie
Good plan! What are prices like in Ireland? I really have no idea!
I think London gets glamourised a lot, but you’re right; is it really worth it for how much the living expenses are? There are plenty of beautiful rural places in the North of England that are so much cheaper than London OR Cornwall, but it really is about weighing up what’s important. x
I completely understand this!! I’m originally from Devon, living in London, thinking about our next move because London is so so expensive!!
People say the money is better but when you contend with the rent and buying market you are no better off at all- probably worse!!
It’s great to see it from your point of view Kelsey! I imagine after all the living expenses, you probably are worse off! But I suppose some people are willing to sacrifice that for being close to a good job or lots of great shops and restaurants! x
I suppose they are, but I’m not always so sure. I’m sure there are people who love it and wouldn’t change it for the world. Then I think there are those of us planning our escape (*ahem*) and then there’s the people who are just kidding themselves and pushing through and only staying because it’s London.
K.
http://www.wonderingthrough.co.uk
am curious as to where you chose to live? after maaaany years and moves overseas we are thinking to head back – mum, 13 yr old boy and naughty 18 mos portugese podengo. penzance seems to be happening – and affordable.
Penzance is very affordable, yes! I wrote a little bit about the best places to move to in a recent post here: http://thecornishlife.co.uk/moving-cornwall-relocating-faqs/
Outskirts of Penzance are very nice and quite inexpensive at the moment; I’m not sure I would want to live in the town but it’s up to you what you prefer!
x
Hi Anna, I’m looking to move down there in about 4 years from Notts, and get houses sent to my email via prime location emails etc. One of the main things people say to me when they’re trying to crap all over my dreams is how expensive houses are down in cornwall, but besides the obvious places overlooking the seafronts, there isn’t a massive difference in my opinion. As an example: a 3 bed semi in a slightly dodgy area with a smallish garden and street parking in Notts was going for £280k, the same day I had a 4 bed end terraced in Lelant (which I think is quite a nice area?) with street parking and just under an acre garden was about £320k. Not to mention it was about a 15/20 minute walk to the nearest beach and coast path!
I was just wondering, in the st Ives, hayle, lelant areas, is there anywhere you would avoid?
Thanks in advance
Dan