How have property prices changed in Lancaster? A focus on LA1 2

North Lancaster is an area which in recent years has avoided any real changes.  Whilst other parts of the city have seen major new developments pop up,  LA1 2 has maintained its status quo.  It is one of the most affordable areas of the city,  offering attractively priced homes and excellent value for money.   

LA1 2 incorporates Skerton,  Beaumont,  Vale, Ryelands and parts of Scale Hall.  In total there are 4,947 properties.  Over the past 5 years, on average, house prices have seen an 8% increase.   Today the average house price stands at just £114,898 based upon the last 12 months sales.   

In the past 12 months, there have been 171 property sales.    The cheapest property to sell was a 2-bed ex-local authority apartment at Mainway, Skerton.  It sold for just £39,000.  The most expensive property to sell was a 3 bed detached home on Torrisholme Road - this sold for £390,000.   

Terrace Homes

Terrace homes account for 33.7% of the properties in LA1 2.  Most of these are located in Skerton and Beaumont.  They range in size from 2 bed upwards.   The larger, grander period homes are located on Slyne Road and many have an interesting history!   The current average price of terrace home is £100,568 although many of the larger homes can command prices in the region of £200,000 plus. 

Apartments

Apartments account for just 12.2% of the homes in LA1 2.   Most of the apartments are 1 or 2 beds.  The average selling price over the past 12 months for apartments has been just £65,073 hence they are popular with investors looking for buy to lets in the area, as they are seen as high yielding investments.   

The highest price apartment to sell last year was on the market at £105,000. 

Semi-Detached and Detached homes

Semi-detached homes account for 47.8% of the all of properties in Heysham, whilst detached homes account for just 6.3%.   LA1 2 is very much a family orientated area.   39.1% of the population are families with children.  

The average price for a detached home is £234,565 whilst the average semi-detached home is now worth £123,087.

Just for fun

Let’s look at how prices have changed in the past of the city over the past 25 years.

Back in 1995,  a newly built 3 bedroom home on Beaumont Park sold for £46,000.  Today, home in this area are fetching 3 times this amount.  The latest one selling for £140,000.   Over on Alexandra Road, Skerton, a 2-bed terrace was worth on averaging £28,000.  Today one in good order is fetching in the region of £85,000. A 3-bed semi on Newby Drive, Beaumont would have cost you on average £45,000.   We have just sold an extended home here for £165,000.

If you would like to know about the property prices in LA1 2, or indeed have a home you would like to sell or have valued,  please just get in touch.  These prices are based on the averages in the area.  Every home is different in terms of size and condition and this when you need a property expert!

My name is Michelle Gallagher.  You can email me at michelle@jdg.co.uk or call me on 01524 843322

Notes.  (Please note there were 20 semi-detached homes that sold in 2019 between £150,000 - £270,000.  The average figure for semi-detached homes is low due to the sales on the lower-priced ex-local authority estates)