Lancaster & Morecambe 01524 843322
Posted on Wednesday, September 1, 2021
Look what is happening in Morecambe? It is almost 5 years since the Bay Gateway opened. In that period property prices have increased in Morecambe by 23.2% whilst in the same period they have only increased in Lancaster by 8%. Is it a coincidence? I don’t think so.
The question now on everyone lips is what does the future hold? The national press is already reporting a downturn in the market in other parts of the country, yet here in Morecambe, our picture paints an entirely different story.
Morecambe’s recovery began with the Bay Gateway. We are told that the decommissioning of Heysham One will start soon, and with it will come an entirely new workforce. We have the Eden Project, hopefully, work will be commencing next year. But we also have other outside investments with bars and restaurants popping up. Take a closer look at the village of Bare, it’s always been highly popular but in recent times it has taken on a more trendy vibe with stylish boutiques opening, micropubs and even a winebar!
Morecambe is only heading in one direction and it is up!
Here are your figures for August 2021
When you look closely at the figures it is interesting to see what is selling and where. For a period, apartment sales were slow but as the choice of houses for sale has diminished and house prices have increased, apartments have started to sell really well. Many have been bought by investors as rental properties others to first-time buyers. We are also seeing investors looking for potential air bnb properties.
Properties under £150,000 are selling well as young families and first-time buyers compete with property investors. If you are in any doubt as to the demand for property in Morecambe, just look at the daily property views. They have over doubled in the past 12 months and almost trebled in the past two years.
21 estate agents were involved with the 126 property sales in Morecambe
We head into September with just 296 properties for sale on the Morecambe market. I have never known the choice of homes available in Morecambe to be under 300 properties.
The average price in Morecambe for a property is now £149,922. This is an increase of £568 in the last month alone and 9.4% over the past 12 months and 23.2% over the past 5 years.
The average detached home stands at £260,740 and the average semi-detached home is now £160,934. If the Eden Project does come as planned, it can only have a positive effect on Morecambe Property Prices.
Homes are selling quickly. Here at JDG, we sold a beautiful family home on Albany Road in just3 days and for the full asking price. Chapel Lane, Overton switched to us from another agent and sold in under 1 week quickly got snapped up and Hampton Road also went in days. We need more homes to sell. We have buyers waiting and we are achieving great results!
If you are thinking of moving, please think JDG. We would love to help. We have a 100% success rate in Morecambe - everything we are listing we are selling! Not many agents can boast that.
Please call us on 01524 843322 or email me at michelle@jdg.co.uk
Ps. At JDG we like to do things differently. On the surface, many agents may appear the same and many proclaim to offer what we offer. However, how can they? We are a service industry. Last month we looked at one of the reasons we achieve more sales and higher prices are due to the way our team conduct the viewings. This month I want to highlight that we market our homes is very different too.
If you’d like to know more about how we do this, please ask us. At JDG we like to be transparent and we love to help!
