Cornwall overtook London as the most searched-for location by buyers earlier this year, according to Rightmove. House prices in the South West grew at 17pc last year, the fastest rate in the UK, according to lender Halifax. Much of the price growth in the South West has been spurred by the second home market, with buyers seizing the opportunity to buy next to the sea or in the countryside.
Martin Brown, of Stratton Creber estate agents in south Cornwall, said bidding wars were commonplace.
He added: “There are just not enough properties coming to market. A lot is sold before even coming to market and as such buyers struggle to find what they looking for.”
Mr Brown said some buyers in Cornwall had lost out on buying a property because the sellers pulled out of the transaction because they could not find anywhere to buy.
Simon Cooper of Stags, an estate agency in the…