Falmouth Property Market Overview
University town with maritime heritage, creative industries, and strong rental demand
The Falmouth property market recorded 360 residential sales over the past 12 months, with a median sale price of £333,125. This places Falmouth £38k above the Cornwall county median of £295,000, and £48k above the UK national median of £285,000.
Prices in Falmouth have shown a notable decline, with a year-on-year change of -7.5%. Within Cornwall, Falmouth ranks 2nd by price out of 8 principal towns, and 5th by transaction volume.
Falmouth House Prices by Property Type
Property prices in Falmouth vary significantly by type. The table below compares Falmouth prices with Cornwall county averages and UK national figures.
| Type | Falmouth | Cornwall Avg | UK Avg |
|---|---|---|---|
| Detached | £555,000 | £433,000 | £420,000 |
| Semi-detached | £335,000 | £295,000 | £265,000 |
| Terraced | £310,000 | £249,688 | £230,000 |
| Flat | £242,000 | £161,500 | £225,000 |
Detached homes in Falmouth command £555,000, while flat properties are most accessible at £242,000. The £313k spread between the most and least expensive types indicates a diverse market with opportunities across the development spectrum.
Median Price by Property Type
New Build Homes in Falmouth
Falmouth recorded 2 new-build transactions in the past 12 months, representing 0.6% of total sales. New-build supply is limited, potentially indicating either planning constraints or an untapped opportunity for developers.
New-build properties in Falmouth traded at a discount of 100.0% versus existing stock. Developers should focus on specification, design quality, and location to maximise values above comparable second-hand stock.
Across the wider Cornwall market, 51 new-build completions were recorded — see our Cornwall property market report for the full county picture.
Recent Property Sales in Falmouth
The following table shows the most recent property transactions recorded in Falmouth, providing real-time evidence of achieved prices for buyers, sellers, and developers:
| Price | Type | Postcode | Date | Status |
|---|---|---|---|---|
| £595,000 | Detached | TR11 5HQ | 2026-02-26 | Existing |
| £260,000 | Semi-detached | TR11 2NX | 2026-02-23 | Existing |
| £285,000 | Terraced | TR11 4SR | 2026-02-20 | Existing |
| £145,000 | Terraced | TR11 4BW | 2026-02-16 | Existing |
| £370,000 | Semi-detached | TR11 5JE | 2026-02-16 | Existing |
These transactions are sourced from HM Land Registry Price Paid data and represent completed, registered sales. The range from £145,000 to £595,000 illustrates the breadth of the Falmouth market.
Development Finance in Falmouth
For developers considering Falmouth, the local market data translates directly into finance structuring. With a median value of £333,125 and detached homes at £555,000, lenders can assess scheme viability with confidence.
A typical development finance facility for a Falmouth scheme with a GDV of £555,000 would attract senior debt of approximately £360,750 at 65% LTGDV. Mezzanine finance can stretch total borrowing to 85-90% of costs, while bridging loans enable rapid site acquisitions completing in as little as 5 working days.
While prices have softened 7.5% year-on-year, experienced developers can still generate strong returns in Falmouth by targeting well-located sites with clear demand drivers.
Ready to develop in Falmouth? Submit your scheme for indicative terms within 24 hours from our panel of 100+ lenders.
Falmouth Compared to Nearby Cornwall Towns
To put Falmouth's market in context, the table below compares it with similarly-priced towns across Cornwall:
| Town | Median Price | Sales (12m) | YoY Change |
|---|---|---|---|
| Falmouth | £333,125 | 360 | -7.5% |
| Bude | £341,500 | 184 | -7.7% |
| Truro | £320,000 | 595 | -1.7% |
| Newquay | £310,000 | 502 | -6.1% |
| Penzance | £280,000 | 361 | 0% |
| St Austell | £255,000 | 540 | 0% |
For the full Cornwall town-by-town breakdown, see our comprehensive Cornwall property market report.
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5 min readFrequently Asked Questions
What is the average house price in Falmouth?
The median house price in Falmouth is £333,125, based on 360 transactions over the past 12 months. Detached homes average £555,000 while flat properties average £242,000.
Are house prices rising or falling in Falmouth?
House prices in Falmouth are falling at -7.5% year-on-year. This decline may present buying opportunities for investors and developers. The wider Cornwall market is falling at -5.1%.
How many properties sold in Falmouth recently?
Falmouth recorded 360 residential property sales in the past 12 months. This represents a reasonably active market.
What development finance is available for projects in Falmouth?
Developers in Falmouth can access development finance from 6.5% p.a. at 65-70% LTGDV, mezzanine finance stretching to 85-90% of costs, bridging loans completing in 5-10 days, and development exit finance. Construction Capital sources the best terms from 100+ lenders.