Lancaster & Morecambe 01524 843322
Posted on Monday, August 5, 2019
So much is happening behind the scenes in our town. We are one step closer to the Eden Project becoming a reality and the Morecambe Bid team are having a real visible impact in all they are doing. Who else is loving the new “Independent Morecambe” artwork that is being spotted in the town? It is probably one of the best marketing campaigns I have seen in years!
All of this is having a positive impact on the Morecambe Property Market. Investors are buying, after all, property prices are relatively low compared to other parts of the UK, and if the Eden Project does happen, it is thought property prices will only go one way. Air BnB anyone?
Seaside towns always perform better in the Summer months than they do, the winter months. But what is surprising this month, is whilst Lancaster is down on sales by just over 10%, Morecambe is up by a whopping 22%.
Here are your figures for July….
This month LA3 was marginally more popular with 63 sales in the postcode. In LA4 there were 59 property sales. The most expensive home to sell this month was a detached house on Stuart Avenue. It had an asking price of £325,000. So far this year, there have been just 12 properties sell which are priced above £250,000.
Bungalows are in high demand. The most popular and most requested home type though is still the 3-bed semi-detached home. At JDG we are now desperately short of these. Can you help?
July’s breakdown is as follows
Upto £100,000 24
£100,001 - £150,000 47
£150,001 - £200,000 26
£200,001 - £250,000 14
£250,000 + 11
Sales by property type
Detached 11
Semi-Detached 36
Terrace 29
Flats 11
Bungalows 29
Park Homes 4
The average property price in LA3 now stands at £152,095 whilst in LA4 it is lower at just £138,669. This is based on recorded sales over the past 3 months at the land registry. As with all averages, it takes in all properties from 1-bed homes all the way through to the larger 4 and 5 bed detached homes.
Despite the positive news though - please do not be drawn into a false sense of security. There are still 391 properties which have been on the market for 16 weeks or more. 50% of these are with the towns 2 largest agents. Whilst I am not proud, thankfully - only 1.8% of these are with our company. Our issue is the reverse - we have a genuine shortage of properties! We actually sold twice as many properties as we actually took on.
If you are thinking of moving, please get in touch. Our home consultations are free, our advice given is designed to help you achieve the best possible price for your home.
Call us on 01524 843322 or drop us an email at michelle@jdg.co.uk
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!
