According to recent research from Barclays Mortgages, more than half (57%) of Lancaster homeowners don’t know the size of their home, in square feet.
However, when choosing their home, around one third of people say they would consider property size to be more important than location, while 38% wish they had chosen a larger property and 37% of people plan on extending their homes to create more space.
The average internal size of a detached property sold in 2019 was 1,249 sqft, just under half the size of a standard tennis court, while the average terraced property is on par with the size of a badminton court (872 sq ft). How does yours compare with this?
In Lancaster, the average price per square foot is £171 per square foot, compared with £1336 in Mayfair, according to Land Registry records. At £157 per sq ft, terraced houses are the most affordable to buy, as you might expect, while detached homes in Lancaster are the most expensive, at around £226 per sq ft.
These prices are averages, and the value of your home will also depend on other factors such as location and local amenities. If you would like to arrange a valuation of your property, or to discuss any aspect of the Lancaster property market, simply pop into our office on Market Street or give us a call.