The Lancaster Property Update | February 2025

Key takeaways 

• The number of homes for sale grows rapidly, giving buyers much more choice
• 1 in 5 homes have reduced their asking price since the start of the year, showing that the housing market remains price sensitive
• Mortgage rates started to fall, encouraging new buyers to the market. 
• 187 new buyers register with our agency.  Buyer demand is still great.  
• Terrace homes have seen the biggest house price growth in the past 12 months, up 5.5% from last year. 
• The average price of a house in Lancaster now stands at £181,636
• Properties sold in the last month had been on the market for an average of 51 days, which is 2.1% longer than a year ago.

Welcome to your property update for February 2025

As we move into Spring, there is a renewed sense of optimism is taking hold in Lancaster’s property market. With interest rates easing, affordability is improving, prompting more buyers to take the plunge. One of the most striking trends is a surge in new property listings—up by over 45% on this time last year—offering buyers a wealth of new options.

At the same time, the market is seeing a notable increase in landlords selling up, both in the private rental and student sectors. This shift is creating fresh opportunities for investors and first-time buyers alike. Rightmove data reflects this growing confidence, with buyer interest already 5% higher than in February 2024, setting the stage for a busy season ahead.

JDG’s own figures echo this trend. Over 180 buyers have registered with us this month alone, reinforcing the sense that demand is building. With more properties coming to market and an active pool of buyers, all signs point to a lively spring ahead.   The buyers are out there—now it’s a matter of finding them the right home.

Here are your figures for February 2025

Property prices

Fresh data from the Land Registry places the average property price in Lancaster at £181,636, a 3% rise over the past year. While the market remains resilient, growth has not been uniform across all property types.

Apartments, which accounted for 19% of sales in the past 12 months, fetched an average price of £122,078, whereas houses commanded a higher £198,428. Among them, terraced homes led the charge in price appreciation. Yet, not all segments enjoyed the same momentum—both apartments and detached homes have seen marginal price corrections.

A closer look at the value per square foot paints an interesting picture. The citywide average now stands at £214 per sq ft, with apartments at £189 per sq ft and detached homes commanding a premium at £286 per sq ft.

At the top end of the market, confidence appears to be building. Whilst there was just one property sale which surpassed the £500,000 mark,  in recent months there has now been 5 sales, hinting at a renewed appetite for Lancaster’s high-end homes.

Property Views

 Daily views on Rightmove offer a real-time gauge of buyer demand. In Lancaster, numbers remain steady year on year and in line with last month, reflecting a resilient market. Consistent interest suggests stable buyer confidence.

Timescales

 In Lancaster, the average time to find a buyer now stands at 76 days, up slightly from last month. However, homes that successfully sold in February moved much faster, averaging just 55 days. This gap highlights the importance of pricing and presentation—well-positioned homes in high-demand areas continue to attract keen buyers swiftly, while others linger as the market adjusts. Motivated sellers who respond to buyer expectations with realistic pricing and strong marketing are still seeing strong results despite broader market shifts.

Property choice. 

Lancaster’s property market has seen a significant shift, with 496 homes currently for sale as of March 1st—nearly double the availability seen in 2022.  

Of these, 276 have been on the market for over 12 weeks, highlighting a challenge for sellers. With buyers now enjoying more choices, homes that linger often need a strategic rethink—whether that’s adjusting the price, refreshing marketing, or improving presentation. In a more competitive landscape, sellers who take proactive steps will stand the best chance of securing a buyer.

In February, 17 estate agents oversaw 92 property sales in Lancaster—and JDG played a leading role, agreeing 17 of those sales. 

So far this year, one in four homes in Lancaster has successfully sold through our agency. Many of our new listings secured buyers within days, with several attracting multiple offers, highlighting the strength of demand when a home is marketed effectively. We have a growing number of buyers actively searching for their next home in Lancaster, creating real opportunities for sellers.

At JDG, we take a truly personal approach, ensuring every client receives expert advice tailored to their needs. As Lancaster’s only recognised ethical estate agent, we prioritise transparency, integrity, and trust—values that set us apart in a competitive market. If you're thinking of selling, we’d love to help. Get in touch on 01524 843322 or at michelle@jdg.co.uk.

Thanks for reading

Michelle

Important notice for potential sellers 

We're proud to inform you that we've been ranked among the top 2% of all estate agents in the UK for the fifth consecutive year.

 This is the highest accolade any UK estate agent can receive, and it's based on marketing, service, and results and is judged against all other agents across the country.   

 On average, we achieve 2% more for our clients than other agents in our area, a key reason to choose us for a successful property sale!