Ask a Lancaster estate agent how the Lancaster Property Market is performing and they will all give you a different answer. Will they answer how it is truthfully for their own estate agency? Will they opt to show you what’s actually selling across the city? Or will they tell you what they think you want to hear?
At JDG we like to always be 100% transparent. The headline above is true. Buyer demand has jumped by 55% compared to the 2 weeks before Christmas. However, before any Christmas, buyer demand on Rightmove always drops to an annual low. In the run-up to Christmas, it had fallen to below an average of 40 views a day. I’d be very worried if it hadn’t jumped!
Throughout January, JDG clients have received over double the daily views on Rightmove than they did in December – that’s over 100% more! We have registered over 200 new buyers this month already, which is also over double the amount we registered in the whole of December. More importantly, we have already agreed 16 new sales in LA1. Did you know? There have been just 47 sales in total in LA1 – a whopping 34% have been sold with us. We have actually sold more than we have listed! Homes are selling with JDG.
The 2023 housing market has got off to a great start. The property portals such as Rightmove are also reporting other signs of positivity in the market, although they acknowledge that it is early days. It is pleasing to see that mortgage rates also continue to fall as interest rates soften, with some deals for first-time buyers now below 5%. It is a trend which is expected to continue and should encourage this segment of the market to become more active.
The overriding message for 2023 is that the housing market is simply returning to a more normal market. And a more normal market is a healthier, less stressful market for all of us!
If you are thinking of moving in 2023, we would love to help. Call us on 01524 843322 or email me at michelle@jdg.co.uk.
Thanks for reading
Michelle