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House prices in the South West (e.g. Exeter, Truro)

Journalist: Joe Wright, Telegraph

ended 28. July 2025

Hello

An embargoed press release from Zoopla for tomorrow shows how areas in the South West (Exeter, Truro and Torquay) are suffering the largest house price falls outside of London. 

Dpes this mirror up with what you are seeing? Why would this be the case?

Were prices inflated during pandemic in the race for space, and are now correcting? Or are there other factors?

Cheers, Joe

2 responses from the Newspage community

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Editor
Harry Goodliffe
Director at HTG Mortgages
This definitely tracks with what we’re seeing. House prices in parts of the South West rocketed during the pandemic as buyers scrambled for space and lifestyle, but that kind of demand was never going to be sustainable. Now, with rates higher and affordability tighter, reality’s kicking in and some of those inflated values are adjusting. As the market cools and people weigh up hybrid working more realistically, demand has softened. It’s not a crash, it’s more of a reset.
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Editor
Pete Mugleston
Mortgage Advisor & Managing Director at onlinemortgageadvisor.co.uk
The South West housing market is now unwinding some of the extreme price growth driven by pandemic-era incentives. Low interest rates and the stamp duty holiday made second homes, Airbnb investing, and upsizing incredibly attractive during 2020 to 2021. But today, mortgage costs are much higher and stamp duty rates have increased, particularly for additional properties. We’re seeing a correction in places like Truro and Torquay, where the pandemic boom was most pronounced. This aligns with what we’re seeing nationwide and corresponds with a noticeable drop in interest from second-home buyers and property investors.