The Morecambe Property Report - December 2019

Even the seasonal tendencies we have historically observed were not as prominent as they have been as we headed towards the back end of 2019.

Brexit uncertainty appeared to hold a lot of potential sellers back from putting their property on the market and this showed in lower stock levels and less new instructions. With the general election result now in place, 2020 feels like it has got off to a more decisive start for many.

In December 2019 compared to 12 months prior, new instructions were down 11.5%. The available stock was down 15.6% compared to the previous December. There were 18.1% fewer sales agreed than there were 12 months prior but there were 30% more price reductions in Dec 2019. The year on year performance highlights the hesitancy sellers were displaying, there was less stock to choose from but the number of price reductions shows that those who were in the market to buy weren’t rushing into anything either.

What sold and where?

In December 2019 across the LA3 and LA4 postcodes 45 properties sold. 14 of these sales were in the LA3 postcode area with 31 sales across in LA4.

The most expensive property to sell was situated on Chapel Lane at Overton, a 5 bed detached on at £479,950. At the opposite end of the scale, a 1 bed flat on Thornton Road in Morecambe went to auction with a guide price of £20,000.

December’s breakdown

The average price paid in LA3 stood at £149,353 and in LA4 it stood £138,530. These figures are taken from the sales registered at the Land Registry over the past 3 months. Semi-detached houses and flats were the most popular property types to sell in December.

Talking of popular semi-detached properties, Sanders Grove didn’t hang around for long, this home was bought by the first person to view it!
So with 2020 upon us and as predicted Rightmove seeing huge increases in traffic over the festive period don’t miss out on the audience of people looking to make their move in 2020.

If you are thinking of selling please get in touch. At JDG we are here to help you get moved. Call us on 01524 843322 or email me at jody@jdg.co.uk

Thinking of moving? Why not try out our handy online valuation tool? It is not as accurate as having us around but in under 60 seconds, you could have a good indication as to what your home may be worth. ?Why not give it a go!

https://valuation.jdg.co.uk/home/800-jd-gallagher

*All figures have been taken from Rightmove Intel