Local market reports › TR area › TR18

TR18 local market report Penzance

Every figure on this page comes from the public record: 11,712 sales registered with HM Land Registry in TR18 (Penzance) since 1995, each one a completed purchase at a real price, plus current rental figures from the ONS. Nothing here is a valuation, an estimate or an asking price.

Sales data to May 2026. Rents: ONS, May 2026. Regenerated with every monthly data refresh.

TR18 is the postcode district covering Penzance in Penzance. Districts are a practical way to slice a market: small enough to mean something locally, big enough to have a steady flow of sales to measure.

What a home in TR18 sells for

The 2026 median in TR18 is £248,200, from 52 registered sales; the mean, £281,300, sits modestly above it, the usual shape of a market with an expensive tail.

For scale: the England and Wales median is £274,000, so TR18 trades 9% below the country as a whole.

In cash terms the typical TR18 home went from £42,000 in 1995 to £248,200 in 2026, roughly 6 times the price. Even after inflation that is a real rise of about 178%: homes here genuinely became dearer, not just more expensive on paper. Measured in today's money the market peaked in 2005; the current median sits about 16% below that. Someone who bought at the 2005 peak has not yet seen that price back in real terms.

The strongest year on record here is 2003 (+43.8% on the year before); the weakest, 2009 (−13.9%). Single-year swings like these are why the annualised table below matters more than any one year's headline.

Annualised returns

Period	Cash, per year	Real terms, per year
1 years (since 2025)	−1.1%	−1.1%
5 years (since 2021)	+1.1%	−3.1%
10 years (since 2016)	+3.3%	+0.1%
20 years (since 2006)	+1.8%	−0.8%

Compound annual growth of the median sold price; the real column deflates by ONS CPIH. Annualised figures smooth the cycle (the chart above shows the cycle), and past growth is a record, not a forecast.

Transaction volumes

TR18 recorded 223 sales in the last twelve months of data. Like most of England and Wales, turnover never fully recovered from 2008: the market here averaged 440 sales a year before the financial crisis and 285 a year over the last five. Volume matters as much as price: when few homes change hands, the median gets jumpy and a single street can move the figure. The most recent year is always still filling in, because sales appear in the Land Registry weeks or months after completion.

What homes rent for around TR18

TR18 falls under Cornwall, where the ONS puts the average private rent at £1,003 a month (May 2026 figures). A one-bed averages £691 a month here and a four-or-more-bed £1,510, so size does most of the work in setting the rent.

Set against the £248,200 median sold price, £1,003 a month is £12,036 a year, a gross yield of 4.8%: gross, before letting costs, voids, maintenance and tax, so a ceiling rather than a promise. Rents are published at local-authority level, so nearby districts in the same authority share these figures.

Will TR18 prices rise from here?

Nobody can tell you that, and this page will not pretend to. What the record shows: the median is up 6% over five years in cash but down 15% after inflation. If you are weighing a purchase, read the volume chart alongside the price one, and remember that every figure here is a completed sale, lagged by the weeks it takes the Land Registry to register it.

Ladders and snakes: five-year risers and fallers

TR18 ranks 12 of 23 in the TR area on five-year growth. The gap between the top and bottom of this chart is the difference between buying well and buying badly in the same city.

Inside TR18, street group by street group

Postcode sectors are the next slice down, each a group of streets. Prices can differ sharply between two sectors a few minutes' walk apart.

Sector	Median (latest)	Sales that year
TR18 2	£205,000	18
TR18 3	£285,000	10
TR18 4	£295,000	11
TR18 5	£225,000	13

How TR18 compares nearby

Same city, different markets. The neighbouring districts of the TR area, dearest first:

District	Median	5-year
TR21	£531,200	+77%
TR5	£425,000	+9%
TR3	£380,000	-3%
TR20	£380,000	+13%
TR12	£354,000	-1%
TR26	£351,800	-6%
TR11	£350,000	+8%
TR4	£327,500	+6%
TR19	£325,000	+7%
TR8	£320,000	-2%
TR2	£318,800	-9%
TR7	£316,000	+5%
TR27	£291,500	+6%
TR17	£278,800	-11%
TR10	£277,500	+11%
TR13	£274,000	+2%
TR1	£273,800	+2%
TR16	£260,000	+6%
TR6	£259,500	-41%
TR18 (this report)	£248,200	+6%
TR9	£235,000	-6%
TR15	£235,000	+18%
TR14	£230,000	+18%

Dig further

See every individual TR18 sale on the live map, mapped to the exact address, or the quick-reference TR18 price page. The report tool writes a custom answer to a specific question, and the mortgage and rent calculator on any sale runs the numbers on a real purchase.

How this page is made: the statistics are computed from HM Land Registry Price Paid Data (Crown copyright, OGL v3.0), geocoded to address level; inflation adjustment uses the ONS CPIH index; rents are the ONS Price Index of Private Rents at local-authority level. Medians of recorded sales, not valuations. Nothing on this page is financial advice.