Back in the summer of 2020, Lancaster’s housing market, like much of the UK, came alive almost overnight. After months of lockdown, demand had built up like a pressure cooker. Suddenly, homes that might have lingered for weeks were selling in days, often with several buyers competing.
It was a unique moment. Prices jumped, boosted by limited supply, the stamp duty holiday, and people rethinking their living arrangements. For some, lockdown shone a light on what they really wanted from their home. A garden, a home office, maybe more space outside the city – it all became the dream.
Here in Lancaster, I remember homes going on the market on a Friday and by Monday they were sold, often above asking. Buyers compromised on location, condition, and even layout just to secure something.
But now, we’re seeing more of those pandemic purchases returning to the market. National newspapers call it a “flood”. Locally, the picture is more nuanced. Let’s explore why this is happening – and what it means for Lancaster sellers and buyers today.
Why are these homes coming back?
A few things are driving this:
Changing work patterns – In 2020, many people thought working from home was forever. That made a longer commute seem irrelevant. Fast forward to today, and with more employers asking staff back, those long journeys suddenly matter again.
Rising mortgage costs – Back then, five-year fixed rates were just above 2%. Now, even after recent cuts, they hover around 4%. For households that stretched themselves, higher repayments are forcing some tough decisions.
Lifestyle reassessment – A big garden seemed ideal in lockdown. But upkeep, distance from shops, or being miles from the station now feels less convenient. What seemed perfect in 2020 doesn’t always work in 2025.
Second homes – Buyers who picked up a holiday cottage or coastal retreat during the pandemic now face higher costs and extra council tax charges. Many are choosing to sell.
Pure buyer’s remorse – In those frenzied days, some decisions were rushed. Limited viewings, lots of competition – it wasn’t always the most considered choice.
What the numbers really show
Across the UK, there has been a rise in people moving sooner than before. Pre-Covid, around 29% of homes sold had been owned for five years or less. In the past year, it’s closer to 34%. So yes, more people are moving on, but it’s not the tidal wave the headlines suggest.
In Lancaster, the numbers are clearer. Out of just over 1,050 homes for sale or under offer (LA1/LA2), 96 were bought between May 2020 and December 2021. That’s 9.1% of the market.
Here’s the breakdown:
- Detached: 21 homes (10.9% of detached stock)
- Semi-detached: 24 homes (9.3%)
- Terraced/town houses: 32 homes (7.9%)
- Bungalows: 8 homes (14.5%)
- Flats/apartments: 11 homes (7.2%)
So while noticeable, it’s far from overwhelming.
The impact on Lancaster house prices
With more homes on the market, sellers face stiffer competition. Nationally, stock levels are the highest since 2013, and Lancaster mirrors this trend.
During 2020–2022, prices in Lancaster rose sharply. Since then, growth has flattened. Homes still sell well if priced right, but the days of buyers paying “whatever it takes” are over. In fact, more than a third of properties for sale across the UK have had to reduce their asking price recently.
Advice for Lancaster sellers in 2025
If you’re thinking of selling a home you bought during the pandemic, here’s my advice:
- Price for today, not yesterday. Look at recent completions, not 2021 prices.
- Presentation matters. Buyers are pickier now – homes need to look their best.
- Be open to negotiation. With more choice available, buyers have the upper hand.
- Work with an agent who knows the numbers. The right data makes a huge difference in guiding your sale.
What this means for Lancaster buyers
For buyers, this is an opportunity. There’s more choice than at any point in the last decade, less competition, and in many cases, scope to negotiate. Many of the homes coming back to the market from the 2020–21 rush are modernised and in good condition, as owners haven’t been in them long.
Looking ahead
Will we see another market like 2020? Probably not. The balance now tilts towards buyers, and while lower mortgage rates could shift things slightly, most signs point to this continuing into 2026.
For Lancaster homeowners, the lesson is clear: property decisions made in haste don’t always last. The best moves now come from realistic expectations, careful research, and a clear vision of what really matters in your next home.
Thinking of moving? At JDG we are always here to help and fully chat through your options and thoughts. You can call me on 01524 843322 or email me at michelle@jdg.co.uk
Thanks for reading
Michelle
