Last Friday marked the hottest day in August in 17 years in the UK. Summer is back and despite the thundery nights we have been having, the sun is shining.
The weather, however, isn’t the only thing to be hotting up. The Lancaster and Morecambe housing market is experiencing a mini-heatwave of its own with record prices being achieved in many areas of our town and city. Buyer demand is high and supply is low. Many homes are now selling quickly and some are experiencing more than one buyer interested!
House prices are increasing, however there is a word of caution – it is not quite to the heady heights that some people have been led to believe.
The temperature graphs above report what is happening and come from two of the largest lenders and also Rightmove. Rightmove report on the increase in asking prices, Nationwide and Halifax report on sold prices.
- Nationwide July House Price Index reports a 1.5% annual increase in house prices and a monthly increase of 1.7%
- Halifax July House Price Index reports a 3.8% annual increase and a monthly increase of 1.6%.
- Rightmove July House Price Index, based on asking prices, reports a 3.7% annual increase. Source: Dataloft, Nationwide, Halifax, Rightmove (asking prices)
Closer to home, we are experiencing high activity. We have just agreed our 107 property sale since lockdown eased on May 13th. That is more than a sale a day!
Here’s some of our recent success’s
Scotforth Road, Scotforth – A 3-bed semi-detached home. This home had 15 viewing requests in 2 days. It sold
Grasmere Road, Greaves – A 4-bed terrace. This home had 13 viewing requests in just 3 days. It sold.
Crofters Fold, Heysham – A 3 bed semi detached home. We had 11 viewings booked on this and offers over the asking price. Some buyers were sadly left upset.
Spruce Avenue, The Cedars – A 4 bed town house. This home had 14 viewings booked in. I have a buyer looking for something similar.
Michaelson Avenue, Torrisholme. A 3-bed semi bungalow. This home had 16 viewings booked in. It sold very quickly, within days of hitting the market.
Mill Lane, Bolton-Le-Sands – A 3 bed detached home – This home may have only had 5 viewings booked in, however it sold in under 2 weeks.
Beech Road, Halton – This 4 bed home had lots of interest. It sold in 48 hours. Two buyers that missed out have asked me to find them something similar. Does your home have a view?
These are just a handful of our recent success stories. I wanted to share them with you so you know what is happening locally in the housing market – or at least for many JDG clients!
If you are thinking of moving, can we help? We have now registered 691 new buyers since lockdown eased for estate agents on May 13th. We have agreed on 107 property sales. We have the buyers looking – could you have the home that they are looking for?
Call us on 01524 843322 or book your free market appraisal by clicking here