House prices are holding up… but there’s a bit more to the story.
We’ve seen a shift through March, with UK house prices now growing at 2.2% annually, up from 1.0% in February. It’s a clear sign the market has picked up again after a quieter start to the year. Across most regions, values are edging forward rather than jumping, which points to a steady, controlled market rather than anything overheating.
Lancaster remains well balanced
When you bring that picture closer to home in Lancaster, it feels far more balanced than some of the national headlines suggest. While a couple of areas have seen small dips, most regions are still in growth. Here locally, we’re seeing a market that’s moving, but in a measured way. Buyers are active, but they’re also more thoughtful, taking their time and weighing up their options.
Supply is shaping the market
What’s really influencing things right now is supply. We’re at an 11-year high for the number of homes available, which means buyers have more choice than they’ve had in quite some time. And when that happens, pricing becomes even more important. Homes that are well presented and sensibly priced are still attracting strong interest. Those that stretch too far on price are finding it harder to gain traction.
What happens next?
Looking ahead, wider factors like geopolitical uncertainty are likely to keep price growth steady rather than dramatic over the next 12 months. From where I’m sat, this is a market that rewards realism. It’s not about pushing for the highest possible price, it’s about understanding where the market is and positioning your home correctly within it.
What this means for sellers
For sellers in Lancaster, getting the basics right from day one has never been more important. With more competition, buyers have options, so your home needs to stand out. The first few weeks are crucial. Price it well, present it properly, and you’ll attract the right level of interest. Get it wrong, and it can quickly lose momentum. The good news is buyers are still out there, they’re just being more selective.
What this means for buyers
For buyers, this is a market that offers opportunity. With more homes to choose from, you’ve got the space to make considered decisions rather than rushing in. There may also be more room to negotiate, particularly on homes that have been on the market a little longer. That said, the best homes are still moving well, so being prepared and ready to act remains key.
If you’re wondering where you sit in the current market here in Lancaster, I’m always happy to have a chat. My name is James Walker. You can call me on 01524 843322 or email me at james@jdg.co.uk
Thanks for reading
James