A Cornish town has seen the third-highest rise in property asking prices in the country, according to data from Rightmove.

Year-on-year data from Rightmove has revealed that Penzance in Cornwall has seen the third highest rise in asking prices throughout the whole of the UK.

The increase has seen the average property price in Penzance go up around 12.5% to £280,102.

The data also revealed that Cornwall had overtaken London as the most searched place on the Rightmove website, suggesting that more and more people are looking to move into the countryside or coast.

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First place on the list was Wallasey, in Merseyside, that had seen an increase of 15.6%, leaving the average asking price for property in the area at £176,707.

Second place went to Leigh, in Greater Manchester, with an increase of 12.8% and average asking prices of £160,345.

Commenting on the Rightmove data on its website, Tim Bannister, one of the directors at Rightmove, said: "The average asking prices of all locations in the price hotspot list are below the national average, and I’d expect them to see strong price growth continue for the rest of the year, especially as many buyers will be exempt from stamp duty in these areas right up until the end of September.

"We recently found that a much higher proportion of chain-free homes are up for sale, so it’s clear some buyers are already choosing to sell first and buy next rather than tie themselves into a chain.

"Agents are telling me that because stock is so few and far between they’re advising home owners to first get an offer accepted on their own home, and they’re finding that many buyers are more willing to then give owners a bit more time to find their next place to move to before the chain can get moving."