Most expensive place to live in Cornwall is near Truro
Restronguet Point near Truro has been named the most expensive place to live in Cornwall and the third most expensive in the South West region.
The average price for a house in the picturesque location south of Feock is £1.72 million according to a new annual survey by Lloyds Bank and the Halifax.
Only properties in Western Avenue (£2.43m) and Brudenell Avenue (£1.84m) both in Poole, Dorset, are priced higher.
Other expensive places in Cornwall to live include Rock and Polzeath both near Padstow.
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The average home in the UK is worth £174,910 according to the Halifax, which is part of the Lloyds.
The Halifax expects house prices to continue to rise during 2014, at a broadly similar pace to 2013, with further economic recovery and low interest rates supporting the market.
But several factors – including continuing pressures on household finances and the potential for more properties to come on to the market - should limit the increase.
Martin Ellis, housing economist, with the Halifax, said: “House prices continued to rise in November. The annual rate of price increase rose again with prices in the three months to November 7.7% higher than in the same three months last year.
“Stronger demand, combined with an insufficient increase in housing supply, has resulted in increases in house prices accompanying higher activity this year. Low interest rates, improvements in consumer confidence and official schemes, such as Funding for Lending and Help to Buy, all appear to have boosted demand.
“ However, continuing pressures on household finances, as earnings fail to keep pace with consumer price inflation, are expected to remain a constraint on the rate of growth of house prices.
“We are also seeing signs of a revival in housebuilding, which should help bring supply and demand into better balance and curb upward pressure on prices over the medium and longer terms.’’