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Welcome to the Morecambe Housing Market Report for October 2019

Posted on Tuesday, November 5, 2019

Let’s discuss Morecambe and the local property market. Whether you are a supporter of Brexit or a  remainer , it’s very clear the uncertainty that surrounds the UK leaving the EU is having an impact on the property market, across the country.  Morecambe however is showing signs of resilience, even as we head into the generally quieter “out of season” months.      
Welcome to the Morecambe Housing Market Report for October 2019

Here are your figures for October 

 

 

Compared to last month where new instructions had dropped year on year, October has seen a marked increase in new instructions by just over 20%. There is significantly less available stock overall compared to October last year and as a result proportionately fewer price reductions. Despite Brexit worries, sales agreed are only down by 4%, which in our opinion is nothing to be too concerned about given the current economic climate. 

 

What actually sold and where? 

This month 40 properties sold in LA3, whilst across in LA4, there were 42 sales agreed. The most expensive property to sell was on Carr Lane in Middleton. It was listed for sale 12 months ago with a price tag of £397,000. At the other end of the pricing scale a property on Penhale Court, on the market since July this year for £50,000 had an offer agreed. 

As I reported last month I can say the same this month, with 73 sales agreed in October in the LA1 postcodes once again with 82 sales agreed across LA3 and LA4, Morecambe outsells Lancaster once again. 

 

October’s breakdown is as follows  

Up to £100,000   : 20 

£100,001 - £150,000 : 30 

£150,001 - £200,000 : 24 

£200,001 - £250,000 : 3 

£250,000 +  : 5 

 

 

Sales by property type

Detached : 11 

Semi Detached : 26 

Terrace : 14 

Bungalows : 14 

Flats : 17 

Park Homes : 0 
 

 

The average price paid in LA3 now stands at £163,898, whilst in LA4 it is lower at £144,687.  These figures have been taken from the sales registered at Land Registry over the past 3 months.  Again this month semi-detached properties are outselling other house types. 

If you want to get moved, please get in touch. We have a 14 step moving plan, a set process that has proved over and over again to work.  Ask yourself this.  Is your home struggling to sell? ? Would your home pass our Rightmove test?  Why not try it out?  The link is below. 

https://www.jdg.co.uk/_media/350 
 
If you are thinking of moving or would like a 2nd opinion about the marketing of your home, please get in touch. ? 

Call us on 01524 843322 or drop me an email at jody@jdg.co.uk