When it comes to the property market, it’s always good to take a step back and look at the bigger picture. Nationally, the average UK house price climbed to £268,319 in February, marking a 5.4% year-on-year rise — the fastest rate since December 2022.
📈 Terraced homes led the way with prices jumping by 6.2%, now averaging £225,486, closely followed by semi-detached homes, which saw a 6.1% increase. Even flats, often seen as the slow burners, recorded solid growth at 3.0%.
But what’s really driving this?
✅ Lower mortgage rates than this time last year.
✅ A strong desire for more space, especially outdoor areas.
✅ And growing attention on features like parking and EV charging.
So how does this play out here in Lancaster?
📍 I’m pleased to say our market is not just following the trend — it’s outperforming it. In the LA1 postcode, the average price of a terraced home has risen by 7.1% over the past 12 months. Semi-detached homes have seen an impressive 8.9% rise. The average price of a terrace is now £171,878, and 266 terrace homes have sold in the last year alone.
These aren’t just stats — they’re a sign of confidence, resilience, and real demand in our wonderful city.
At JDG, we don’t just watch the numbers — we interpret them for you, so you can make informed decisions about your next move.
🔍 Thinking of selling? Wondering what your home might be worth in today’s market?
Let’s chat. When it comes to Lancaster property, we’re here to help you every step of the way.
Call us on 01524 843322 or you can email me at michelle@jdg.co.uk. I’m always here to help and I love chatting property!
Thanks for reading
Michelle x