What really happened in the Morecambe Housing Market in July 2019?

I always love good news stories and positive attitudes, and right now Morecambe is full of them.  The July sunshine brought people to our town. The beaches were packed, the promenade was busy and the cafes were buzzing. This is how Morecambe should be.

What really happened in theMorecambe Housing Market in July 2019?

So much is happening behind the scenes in our town. We are one step closer to the Eden Project becoming a reality and the Morecambe Bid team are having a real visible impact in all they are doing. Who else is loving the new “Independent Morecambe” artwork that is being spotted in the town? It is probably one of the best marketing campaigns I have seen in years!

All of this is having a positive impact on the Morecambe Property Market. Investors are buying, after all, property prices are relatively low compared to other parts of the UK, and if the Eden Project does happen, it is thought property prices will only go one way. Air BnB anyone?

Seaside towns always perform better in the Summer months than they do, the winter months. But what is surprising this month, is whilst Lancaster is down on sales by just over 10%, Morecambe is up by a whopping 22%.

Here are your figures for July….

What actually sold and where?

This month LA3 was marginally more popular with 63 sales in the postcode. In LA4 there were 59 property sales. The most expensive home to sell this month was a detached house on Stuart Avenue. It had an asking price of £325,000. So far this year, there have been just 12 properties sell which are priced above £250,000.

Bungalows are in high demand. The most popular and most requested home type though is still the 3-bed semi-detached home. At JDG we are now desperately short of these. Can you help?

July’s breakdown is as follows

Upto £100,000             24 
£100,001 – £150,000   47 
£150,001 – £200,000   26 
£200,001 – £250,000  14 
£250,000 +                11

Sales by property type  

Detached 11
Semi-Detached 36
Terrace 29
Flats 11
Bungalows 29
Park Homes 

The average property price in LA3 now stands at £152,095 whilst in LA4 it is lower at just £138,669. This is based on recorded sales over the past 3 months at the land registry. As with all averages, it takes in all properties from 1-bed homes all the way through to the larger 4 and 5 bed detached homes.

Despite the positive news though – please do not be drawn into a false sense of security. There are still 391properties which have been on the market for 16 weeks or more. 50% of these are with the towns 2 largest agents. Whilst I am not proud, thankfully – only 1.8% of these are with our company. Our issue is the reverse – we have a genuine shortage of properties! We actually sold twice as many properties as we actually took on.

If you are thinking of moving, please get in touch. Our home consultations are free, our advice given is designed to help you achieve the best possible price for your home.

Call us on 01524 843322 or drop us an email at michelle@jdg.co.uk

Ps. If you would like to know what your home is worth why not try out out a quick online valuation tool. It takes less than 60 seconds. It is not as accurate as having us out, but it will give you a rough guideline. Try it out and let me know what you think. Click below to give it a try!


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