What really happened in the Morecambe Housing Market in January 2019?

National Press is reporting a slow down in the UK housing market, blaming the uncertainty surrounding Brexit. In the south, prices are reported as falling. Has the proposed investment in Morecambe, turned people’s heads? Or is it just that people have started to discover the joys of the Bay, and the convenience the Bay Gateway allows? We have certainly seen a greater number of university workers searching around Heysham, Torrisholme and Bare!

How many homes sold in January 2019 v January 2018?

Let’s begin by looking at the numbers. In January 2018, 78 homes sold in LA3 and LA4. In January 2019, this number jumped to 102 properties. This is an increase of 31%, almost a third. How many towns or cities can boast this? I’d love to find another one.

Let’s look at the stats

In January there were 811 homes listed for sale, only 19 less than November 2018. The number of new instructions increased to 132 properties.  102 properties went under offer. 76 homes reduced their asking price.  Can you believe one agent reduced the asking price of a property by 29%?  The average reduction across LA3 and LA4 was 5%. Overall January was a superb month.

What actually sold?

LA3 was slightly more popular than LA4 with 58 homes selling.  The two most expensive sales were both in Heysham, the most expensive home sale being a property on Lea Lane at £375,000.  This home had been for sale since September 2018.  The most expensive home in LA4 to sell was on Victoria Parade.

January's breakdown is as follows

Upto £100,000 25 properties
£100,001 - £150,000 43 properties
£150,001 - £200,000 19 properties
£200,001 - £250,000 11 properties
£250,000 + 4 properties ( the highest price was £375,000 )
 

Sales by area

LA3 1 21 properties
LA3 2 25 properties
LA3 3 12 properties
LA4 4 16 properties
LA4 5 16 properties
LA4 6 12 properties
 
 
Sales by property type

Detached 6
Semi Detached 29
Terrace 28
Flats 15
Bungalows 20
Park Homes 3

38% of all properties to sell in Morecambe in January had 3 bedrooms. Semi detached and terrace homes were in the greatest demand, namely those priced under £150,000. Heysham ( LA3 2) was the most requested location.

At JDG we sold 57% of all our new instructions that were listed in January. Lordsome Road sold in just 3 weeks, Tranmere Crescent and Knowlys Road both sold in under 2 weeks and both had more than 1 offer!

18 different estate agents were involved with the 102 property sales. At JDG we now need more home to sell, especially bungalows and 3-bed family homes!

To keep up to date with happenings in the Morecambe Housing Market, check out our website at www.jdg.co.uk or just email me at darren@jdg.co.uk. At JDG we are here to help.

 
Ps. If you would like to know what your home is worth why not try out out a quick online valuation tool. It takes less than 60 seconds. It is not as accurate as having us out, but it will give you a rough guideline. Try it out and let me know what you think. Click below to give it a try!

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