House prices in Perranporth plummet significantly

House prices in the picturesque seaside town of Perranporth, known as "England's best beach," are dropping sharply. Prices have fallen by £13,000, raising questions about the appeal of popular seaside towns. Perranporth is located on the north coast of Cornwall. It is famous for its beautiful, dog-friendly beach, which stretches for three miles. The town is a favorite for families and couples, offering a relaxed holiday atmosphere with surf shops and cafes. Visitors have given it high ratings on TripAdvisor, praising its stunning beach and amenities. Despite its popularity with tourists, the local property market is struggling. Tim Simmons, a director at Regency Living, notes that many coastal towns with previously high prices have experienced market corrections this past year. Buyers are facing higher mortgage rates, which limit how much they can spend on houses. Affordability has long been a concern in sought-after coastal areas. Many people want to live by the sea but find it difficult to afford homes. Meanwhile, other coastal towns in Cornwall, such as Fowey, Falmouth, and Bude, are seeing increasing property values of up to £23,000, even as nearby Padstow experiences a 10% drop in prices.