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The Morecambe Property Market Update - November 2021

Posted on Tuesday, November 30, 2021

  What a difference 12 months makes.  12 months ago, we were reporting a 2.5% increase in annual property prices.  Now we are reporting that prices have increased by 9.1% in the last 12 months alone and 23.8% over the past 5 years. Morecambe has been in demand ever since the first lockdown started to ease.   It took a little while to see an increase in property prices, but once people started to realise what Morecambe truly offers, the buyers started to flock in, attracted by the blue flag beaches, fabulous views and also affordability.     
The Morecambe Property Market Update - November 2021

November has been an interesting month.   The number of homes available for sale may have dropped by over 40% year on year, however, the number of buyers looking on websites like Rightmove has jumped by 80%.   Demand is still very high.  

There are still lots of serious investors looking to buy in Morecambe.  Those who claim to be in the know, say The Eden Project North is definitely coming,  others are still wary with funding being concerned and some people are quietly optimistic over what the future holds.    

The New Year is full of promise and hope for Morecambe.  

Here are your figures for November 2021

 

 

Buyer demand

Buyer demand is still very high.  It may have dipped slightly from October  (In October it stood 98.8 daily views) however it is still considerably higher than it was 12 months ago.  The big problem now is the lack of choice available for buyers.  

 

Struggling Properties

This month in both Morecambe and also in Lancaster I wanted to again focus on struggling properties.   Throughout the month of November, there has been a total of 386 homes for sale in Morecambe. 

As we enter into December there are just 275 homes for sale however 159 of these homes have been for sale for 12 weeks and longer.   203 of them have been for sale for 6 weeks and longer.  This is more than half the available stock.    Even worse, 89 of them are with just one agent!

If your home is one of these, can we talk–_?  We would love to be able to help. 

  

Property Prices

The average price in Morecambe for a property is now £150,009.   This is a decrease of £1384  in the last month, however an increase of 9.1% over the past 12 months and 23.8% over the past 5 years.   The gap between average prices in Lancaster and Morecambe is now is £16,271.  It has widened slightly since last month. 

 

17 estate agents were involved with the 108 property sales in Morecambe

We head into October with just 275 properties for sale on the Morecambe market.  This is 15 more homes than last month but still the 4th month in a row that the available choice in Morecambe has been under 300 properties.  

 

If you are thinking of moving,  please think JDG.  We would love to help.  We have just been ranked as the No.1 Estate Agent in the UK by The Property Academy in conjunction with Rightmove.   This is based on 3 key things.  Marketing,  Service and Results.   The resulting bit is important to you.  On average, we achieve 2% more of our clients than other Morecambe estate agents.  We put more money in your pocket!  

Please call us on 01524 843322 or email me at michelle@jdg.co.uk

 

Thanks for reading

 

Michelle

 

Ps.  If you want to know more about how we became officially ranked the best agent in the UK - you can find out more by clicking here.