To look at what is happening in the Lancaster Housing Market, sometimes you need to look further back than this time last year.
Month on month, the housing market is certainly up. If you recall, August 2019 was a whopping 40% down in sales activity compared to August 2018. September 2019 is up, not by any great deal year on year, but at 73 sales agreed, it is up by 33% on August.
What is alarming is when you compare this to September 2017. Activity is still 20% down from then. It is obvious that Brexit concerns are affecting some peoples buying decisions. Even DFS has been quoted stating that “a slowing housing market will hit their sofa sales”. The good news is that prices have pretty much remained resilient in Lancaster, and many other northern areas.
I’ll report on the figures below, however, I want to highlight the importance of attractive pricing, perfect presentation and getting your promotion right. I call it the 3 P’s.
We listed a 3-bed home at Wingate Saul Road in Fairfield for sale earlier this month. In just 3 days 10 viewings were booked. 5 offers were made, 3 of which were above the asking price. The buyers are out there. If you are thinking of selling, your home needs a marketing plan!
Here are the figures for September 2019 (LA1)
What actually sold and where?
It’s always interesting when you break the figures down to see what is selling where. Just over 45% of the property sales in LA1 in September were 3-bed homes. This shows that after the 6-week school holidays, families are returning to the property market. Already, people are asking - can I move in before Xmas?
LA1 4 was the most popular selling postcode with xx sales. It’s an area which is always popular with families due to the number of highly regarded schools.
This month, 86% of all the property sales were below £250,000. There was just 1 sale above £500,000. For those who interested in this higher-end market, that is just 5 sales in this price sector this year.
Sales by price
up to £125,000 32
£125,000 - £250,000 31
£250,00 - £500,000 9
Sales by postcode
LA1 1 7
LA1 2 18
LA1 3 12
LA1 4 21
LA1 5 15
Sales by property type
16 different estate agents were involved with 73 property sales in September. Despite the fact there are 574 properties for sale in LA1 in total, 9 of these agents actually sold less than 3 properties each.
Here at JDG we were in involved with 1 in 5 of all the property sales. We had some great successes. Broyd View and Hutton Way both sold before they hit the market, Wingate Saul Road had 5 buyers all offering on it and Brunton Road found a buyer in just 3 weeks. Beaumont Street and Captains Row both sold in just 24 hours.
If you are thinking of moving please get in touch. Our home consultations are free. We will advise you not just on your’s home value but also on how to achieve the best possible price for it (this includes simple home staging tips and very best marketing ideas).
If you are not ready to move just yet, why not check out our online library of Eguides. You’ll find lots of great information and moving tips? My name is Michelle Gallagher. You can reach me at email@example.com or call me on 01524 843322.
Ps. Why not try out our handy online valuation tool? It is not as accurate as having us around but in under 60 seconds, you could have a good indication as to what your home may be worth. Why not give it a try?