What happened in the Morecambe Housing Market - September 2019

At JDG we are seeing a definite increase in property enquiries for the opportunities that Eden Project North will present. For example, homes for people filling the jobs that will be created both throughout the construction period and once the attraction is complete, investors hungry to capitalise on the potential of increased demand for rental and air bnb properties and generally from people now seeing Morecambe in a different light.

Once again this month Morecambe is outselling Lancaster, a trend which has become very apparent since the completion of The Bay Gateway and currently shows no signs of waning.

Here are your figures for September

It’s worth noting that new instructions have dropped year on year, nothing to panic about just yet but worth keeping an eye on. The resulting factor is less available stock. Sales agreed are 29% up year on year. So people are buying, but could some homeowners be holding back before putting their property on the market, waiting to understand how their next move could be impacted by all that is promised for Morecambe?

What actually sold and where?

This month 57 properties sold in LA3, whilst across in LA4 there were 51 sales agreed. The most expensive property to sell was over on Broadway in Morecambe. It was listed for sale in July this year with a price tag of £370,000. Of the 108 sales agreed just 7 properties sat in the bracket of £250,000 and above.  3 bed homes continue to be the best selling properties across the region.  As a result at JDG we now have a shortage of 3 bed semi-detached properties, in particular under £200,000. Can you help?
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September’s breakdown is as follows

Upto £100,000 ? ? ? ?       ? 30
£100,001 - £150,000 ?  36
£150,001 - £200,000 ?  25
£200,001 - £250,000 ?  11
£250,000 + ? ? ? ? ?         ? ? ? 6
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Sales by property type ?

Detached?          8
Semi-Detached? 36
Terrace? 20
Flats? 26
Bungalows? 16
Park Homes? 2


The average price paid in LA3 now stands at £154,995 whilst in LA4 it is lower at £118,300. These figures have been taken from the sales registered at Land Registry over the past 3 months.

Despite the positive news, there are still a number of homes struggling to sell. In September there was a choice of 777 homes available for sale. This is actually down from last year. Worryingly though, 675 of these have now been for sale for 12 weeks or longer. 343 of them have been for sale over 6 months.   At JDG we’ve had some great property successes this month, the second people to view Priory Close snapped up this lovely property and Plover House proved a perfect investment for its new owners.

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