Property trends for TR20

    TR20 covers the Penzance area and surrounding neighbourhoods in far west Cornwall. It is a established seaside and rural community with a mix of residential, agricultural, and tourism-related character.

    At a Glance

    Average Property Price - TR20

    £387,037

    66

    National percentile

    12 month avg at 31 Jul 2026

    Average Monthly Rent - TR

    £1,004

    49

    National percentile

    Estimate at 31 Jul 2026

    Average Net Household Income - TR20

    £34,680

    29

    National percentile

    2023 census data

    Flat / Maisonette Yield - TR

    4.4%

    2

    National percentile

    Estimate at 31 Jul 2026

    10-Year Annualised Price Growth - TR20

    3.9%

    74

    National percentile

    Estimate at 31 Jul 2026

    10-Year Annualised Rent Growth - TR

    3.8%

    45

    National percentile

    Estimate at 31 Jul 2026

    Street Rankings — TR20

    Top 5 streets in TR20 ranked by 3-year average sale price.

    #Street3Y Avg
    1Boat Cove Lane£1,200,000
    2Trevelyan Grove£920,000
    3Wheal Georgia£880,000
    4Dola Lane£837,500
    5Parc Morrep£760,000

    Latest Rent — TR20

    Property Price & Volume Trends

    The average property price in TR20 is £383,000, sitting slightly above the national midpoint. Over the past decade, prices have grown at 3.2% annually—notably slower than the national average, reflecting more modest appreciation in this coastal region. Transaction activity has softened, with 100 sales in the latest full year compared to a 10-year average of 145 annually.

    Rent & Yield Trends

    The average monthly rent of £1,004 sits near the national median. Rental growth over the past decade has also tracked in line with national trends at 3.9% annually. The flat yield stands at 4.4%, which is a meaningful improvement from the 10-year average of 3.5%, indicating that rental income has grown faster than capital values and improved returns for buy-to-let investors in recent years.

    Income & Affordability Trends

    Average household income of £35,000 is materially below the national average, placing the area in the lower third nationally. This affordability pressure is evident in the price-to-income ratio of 10.9x, which has worsened since 2016 (then 9.8x), signalling that property values have outpaced wage growth. On the rental side, rents now consume 27.8% of household income—an improvement from 29.3% in 2016, suggesting that rental affordability has eased slightly despite slower wage growth.

    Resident Demographic Profile

    TR20 has a notably aged profile: nearly 30% of residents are aged 65 and over, well above the national average of 19.6%, while young adults aged 16–24 are significantly underrepresented at just 7.2% compared to 11.0% nationally. Housing tenure is heavily skewed toward outright ownership at 46.8%, nearly 50% above the national average, reflecting the area's appeal to retirees and older buyers. The employment mix is distinctive for an above-average concentration in trades (16.3% against 10.5% nationally) and caring roles (11.5% against 9.2%), alongside below-average professional representation.

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    Streets in TR20

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