How have property prices changed in Galgate?

One of Galgates oldest home is  Chapel cottages on Chapel Street.  This detached cottage dates back to the 1600s.  If you ever get the chance to look inside, it has some very special and unique features including an original salt hole cupboard built into the exposed stone wall in the lounge. There is early wood panelling (17-18th century)  and the stunning original 17th century Tree of Life plasterwork still features.   We are informed this is likely to have been created when Catholics were being persecuted as a way of celebrating mass.   This home last sold in 2013 for £241,000.  In 2001, it was just £85,000 ( a lot of work though was carried out in between! ).

In the past 5 years alone, property prices have increased on average by 6.4%.   But how have they increased over the past 25 years?

25 years ago the average property price was just £50,075.  Today it is £181,750.   Back then a litre of fuel cost just £0.60.   The average new car would cost £11,400 and the average salary was just over £13,000.   How things have changed.

Over the last 12 months, there have been just 57 sales in LA2 0.  The average price of these sales was £183,729.

Apartments

There aren’t many apartments in LA2 0 and certainly, no large blocks like you find in the city centre.  You’ll find just a handful spread around the village.   Because of this in the past 5 years there have only been 10 apartment sales, the last one being in February 2019.   These apartments sales are in the main ex-local authority homes.  The average price is just £81,5000. 

Terrace homes

The average price of a terrace home over the past 12 months stands at £146, 379.  Terrace homes accounted for 18 of the property sales in the past 12 months.   Despite the average value,  the most expensive terrace home to sell (and complete) in the past 12 months was a 3 bedroom home on Crofters Fold at just £138,000.  

Semi-detached and detached homes

Semi-detached and detached homes (this includes bungalows and houses) equate for over 60% of the housing stock in the LA2 0 postcode, hence Galgate is such a popular village for families.  Just over a 1/3 of the residents that live here are actually families with young children.   On average a semi-detached home costs £165,537 whilst detached homes are considerably higher at an average of £331,413.  

Ultimately a home is worth what somebody will pay for it.  In Galgate,  over the last 12 months, there have been just 22 property completions.  The most expensive was actually just outside the village in neighbouring Ellel ( Still LA2 0 ).  This detached home sold for £400,000.

If you’d like to know about property prices in LA2 0 and Galagte or indeed what your home might be worth today, please get in touch.    These prices are just the averages for the area.  Every home is unique and that is where a property expert such as ourselves can make a huge difference.

My name is Michelle Gallagher.   You can email me at michelle@jdg.co.uk or call me on 01524 843322.   Alternatively, why not try our online valuation tool.  In just under 60 seconds it can give you a rough idea of what your home could be worth!

Try it here.

Thanks for reading

Michelle x