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Cheapest and best areas to buy in Penzance. All 3 postcode districts compared.

Typical 3-bed house£318kacross Penzance
Cheapest districtTR183-bed house £298k
Sold last year268homes in Penzance
Prices in Cornwall-0.8%on a year ago

A typical 3-bedroom house in Penzance sold for £318,000 over the last five years, in today's money. The same home costs £298k in TR18 and £344k in TR19, so where you look matters more than almost anything else.

For the most space for your money, look at TR18: about 89 m² for a typical £298k. TR18 is the busiest market, with 149 sales last year.

Prices in Cornwall are down 0.8% on a year ago. Renting a 3-bedroom home costs about £1,077 a month; a 90% mortgage on the typical 3-bed house would be around £1,450 a month at 4.5% over 30 years.

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Cheapest areas to buy in Penzance

1TR183-bed house £298kabout 89 m² · 149 sold last year2TR203-bed house £339kabout 93 m² · 55 sold last year3TR193-bed house £344kabout 92 m² · 64 sold last year

For a flat, the cheapest is TR20: a typical 2-bedroom flat sells for £98k.

Best areas in Penzance for families

Districts where the best state schools nearby beat the England average, cheapest first.

TR183-bed house £298k
Primary Newlyn School · 78% England 64%Secondary Humphry Davy School · 38.5% England 43.8%

Best state primary within 2 km (pupils meeting the expected standard at 11) and secondary within 5 km (grade 5+ in English and maths). DfE performance tables.

Penzance postcode districts

District3-bed houseSize2-bed flatHouses per m²Best primarySold last year
TR18£298k89 m²£162k£3,32878%149
TR19£344k92 m²£152k£3,883—64
TR20£339k93 m²£98k£3,72338%55

Typical prices from sales in the last five years, in today's money. A dash means too few sales to say.

Questions about buying in Penzance

How much is a 3-bedroom house in Penzance?

About £318,000 across Penzance, from sales in the last five years in today's money. It ranges from £298k in TR18 to £344k in TR19.

What is the cheapest area of Penzance to buy a house?

For a 3-bedroom house: TR18 (£298k), TR20 (£339k), TR19 (£344k).

Are house prices going up in Penzance?

In Cornwall, prices are down 0.8% on a year ago and up 7.9% over five years, according to the UK House Price Index (July 2026).

Which postcode in Penzance is best for families?

On school results and price together: TR18 (3-bed house £298k, best primary nearby 78% at the expected standard against 64% across England).

Is Penzance a good place to buy a house?

What the numbers say: a typical 3-bedroom house costs £318,000, prices are down 0.8% on a year ago, renting a 3-bedroom home costs about £1,077 a month against roughly £1,450 for a 90% mortgage, and 268 homes sold last year, so there is a real choice. Prices vary from £298k to £344k between districts, so the area you pick matters most.

How many homes sell in Penzance each year?

268 homes sold across its 3 postcode districts in the last year, the most in TR18.

Sources: HM Land Registry price paid data matched to the EPC register, UK House Price Index (July 2026), ONS private rents (August 2026). The mortgage figure is an illustration, not advice.