The Morecambe Property Market Update - September 2020

If you look closely, the housing market in Morecambe is on par with 2019  (excluding the lockdown period.)   However, being on par is good.   Morecambe performed better than most regions in terms of activity last year -  fuelled by the Bay Gateway and the promise of the Eden Project.   To maintain that strong activity is something not to be scoffed at.  

Here are your figures for September 2020

It is interesting to note that the number of people looking to sell has increased by just over 20%.  Many of these sellers will have realised that for buyers to take advantage of the stamp duty holiday,  they need to get on the market now.  

Buyer activity online has also increased.  Normally when this happens, you expect to see an increase in sales activity, yet this hasn’t happened.    Available stock lower than last year and out of the 612 homes available for sale, 430 of them have been for sale for 12 weeks or longer.   Current buyers have seen these homes online and have chosen to dismiss them.   There marketing needs refreshing if they are going to get better interest. 

It is worth noting this month that the sales in the lower end of the market have almost halved.  Last year,  30 properties sold under £100,000.   There has been a recent report in the national news that first-time buyers are struggling to get mortgages due to the higher deposits required.   Investors however are still snapping up properties.

Once again semi-detached homes are the most in-demand home in Morecambe.  They are after all the perfect family home.  At JDG we are desperately short of family homes, especially ones with a garden. 

This month, LA3 was slightly more popular, than LA4 however which end of the promenade people choose to live, really is a personal preference!

14 estate agents were involved with the 107 property sales in Morecambe.  The Morecambe market is remaining steady

It is still a major concern when you see that 430 homes are struggling to find a buyer.  If your home is one of these, please call us.  We have great success helping struggling homes.  We will be honest with you.   It is not always the price, often it can be down to poor marketing.  Sometimes tweaks in the presentation of a home can make a big impact.    We have helped lots of struggling homeowners sell.   

Can we help you move?  We know Morecambe well.  After all, half of our sales team live there!  Call us on 01524 843322 or email me at michelle@jdg.co.uk

Ps.  Why do I hate the word busy?   It makes people feel you don’t have time for them…. Please don’t use it!