Well, my recent articles about Lancaster’s most moved street in the last 3 years and the Monopoly board article (the one where I listed the most valuable streets) caused quite a lot of interest locally, so I decided to see what else I could find out about the LA1 postcode area, and I have been able find out the biggest streets in the Lancaster (LA1) postcode area.
Don’t worry, I will get back to some hard-hitting articles about the lack of new homes being built in Lancaster, the trials and tribulations of being a Lancaster buy-to-let landlord and the future of the Lancaster property market… yet in this article because of the previous positive comments, I wanted to give you what you, the Lancaster homeowners and Lancaster landlords asked about and wanted!
The biggest street by far in LA1, when it comes to the number of houses on it is Bowerham Road, with 392 homes. In second place is Kershaw Drive with 213 homes and in third is Torrishome Road with 213 homes.
Not surprisingly, the most valuable street of the top 20 biggest streets is Bowerham Road at £53.9m with an average value of £137,000 per property.
The street with the greatest number of movers in the last 3 years is Kershaw Drive, with a saleability rate of 33.3%, with Greaves Road having the highest saleability rate of 46.7%.
The full breakdown can be found in this chart below.
And of course, there’s also a serious point to this article…
The basic rudiments of the Lancaster property market remain principally healthy in many parts of Lancaster, yet the existing political environment means that the vital element of confidence has been diminished slightly in certain parts. That is triggering a minority of potential property purchasers and house-sellers to vacillate; yet with unemployment at an all-time low, a record number of people with a job, ultra-low interest rates and decent mortgage availability (with the Banks and Building Societies tending to drop mortgage rates instead of increasing them), those Lancaster first time buyers (and especially Lancaster buy-to-let landlords) who have adjourned their next house purchase because of perceived political uncertainty should be reminded that there are more homes on the sales market than at any time for the last three or four years, so there is a greater choice of Lancaster properties to call your next home/BTL investment, with a potential of securing a great property deal in the next month or so.
Irrespective of what happens with Brexit, Lancaster residents will still need a roof over their heads and as I have mentioned on a number of occasions, I have proved beyond doubt we aren’t building enough homes both locally in Lancaster and nationally. If supply is limited and demand increases (as the population grows and we get older), prices in the medium to long term can only go in one direction. Upwards!
So, whatever happens with BoJo and Brexit – why wait, because once we get over that hurdle, there will just be another hurdle and another hurdle and by which time – we will be in 2029 and you would have missed the boat. We survived the Global Financial Crash, 3-day week in the 1970’s, hyperinflation etc etc… yet the choice is yours.