The Morecambe Property Market Update - April 2022

Out of town property investors have started to question if the Eden Project will ever happen, although Boris Johnson has been quoted as saying Whitehall will provide the funds as long as a proper business plan is submitted.   Eden says this will be made in July.     

Last year was an exceptional year and many people relocated to the coast.  Now that holidays abroad are back and life is gradually returning to normal,  there has been slowdown in this lifestyle change.   In fact, many more rural estate agents are saying they are seeing people selling up to move back to the cities!  

Morecambe though still has a lot to give and if we do get the funding for the Eden Project confirmed,  I think this picture could easily change again!

Here are your figures for April 2022.  

Property Prices

The average price in Morecambe for a property is now £158,217.   This is a decrease of £1,187  in the last month, however, it is still an increase of 6.9% over the past 12 months and 27.7% over the past 5 years.   The gap between average prices in Lancaster and Morecambe is now £8,036.  It is gradually closing.  

Buyer demand

Buyer demand is still quite high.  There is no doubt about it, demand has dropped month by month this year, however, every property listed is still getting over 100 views a day.     Buyers are looking,   to give you an example a semi-detached home we had in Heysham had 15 viewing requests!

Struggling Properties

Did you know?   In the LA postcodes,  the average property takes 37 days to sell?  Last year it was just 13 days.   There are currently 316 homes for sale in Morecambe.  137 of these have been for sale for 12 weeks or longer.     I’m proud to say,  none are with us.   It might shock you to know that 211 homes have been for sale for 6 weeks and longer.   This shows you that homes aren’t selling as quickly as they were.   If your home is struggling to sell, please talk to us.  We have helped several other clients that have switched to us and followed our advice! 

19 estate agents were involved with the 95 property sales in Morecambe

We head into May with 316 properties for sale on the Morecambe market.   This is 10 more homes than last month but still, no way near the choice buyers had pre-pandemic!  

In April we achieved on average 99.7% of our asking price.   The area average is 95.2%.   At JDG we do more to achieve more and the results we achieve are just one of the key reasons why we are officially ranked as the No.1 Estate Agent in the UK

Are you thinking of moving?   Think JDG.   We would love to help.  Our proven results and client reviews make us the best sellers for you in Lancaster and Morecambe.  That’s a fact!

Call us on 01524 843322

Thanks for reading

Michelle 

Ps.  Did you know?  We are ranked as the Best Estate Agent in the UK by Rightmove and The Property Academy.   This is the highest award for any estate agent in the UK.  It is judged on 3 key elements - marketing, service and results.  The results are the important part for you.  On average we achieve 2% more for our clients than agents in our area.   __