Have you been watching the Olympics over the past few weeks? It’s been an emotional event for so many different reasons. It’s great to see though just how team GB have increased the medal haul over the past 25 years. In Toyko, they have won 65 medals overall – 22 of which were gold!
Because of the Olympics, our research team though they would look at how the price of property has changed in comparison to Gold and also the FTSE 100. After all, Gold has always been seen as a superb, safe investment.
Take the average semi detached home in Lancaster, the official price increase in 10 years has increased by 40.37%. Across the UK property prices have increased by 46%/ We may be a northern city, however we are keeping up!
Over the same period the FTSE 100 has risen just 18%, This is below its pre-pandemic high despite a positive economic recovery. When you start to compare, you can see why property is still very appealing!
At present there is little sign of a slowdown in property market conditions. Mortgage approvals in June were over 20% higher than the long-term average (Bank of England) and demand in the market remains high. There is also a huge shortage of property in the Lancaster rental market. Every property we are now advertising to let is receiving 30 + applications.
There is a huge shortage of good quality rental property in Lancaster. Is it time for you to invest?
My name is Josh Heron. If you have a property to let or are thinking of investing in the local property market, please get in touch. At JDG we are here to help. Call me on 01524 843322
Thanks for reading