In 2024, fixed-rate mortgages continue to be a popular choice among UK borrowers, offering the stability and predictability that many homeowners seek in uncertain economic times. Despite a slight retreat from their peak popularity—down from a high of 95.5% in September 2022—the preference for fixed rates remains strong. This trend is significantly different from the period before the Global Financial Crisis when a much lower proportion of lending was on fixed rates. Earlier this week, Barclays Bank made headlines by cutting several of its key mortgage rates. This proactive move comes in anticipation of a forecasted Bank of England rate…

The length of time it takes to sell a property is a key indicator of the property market’s health. This metric offers insights into supply and demand dynamics, estate agency efficiency, and overall market confidence. For Lancaster homeowners and investors, understanding these trends aids in making better decisions. Fast sales usually reflect a strong market with high demand, while longer sale times may indicate an excess of properties or reduced buyer interest. Therefore, monitoring sale times is crucial for assessing market performance and making informed buying or selling decisions. Average Time to Sell a Property in Lancaster Whether you’re a…

As the 137th Wimbledon Championship gets underway, tennis enthusiasts are once again inspired by the thrilling matches and legendary performances on display. For those looking to recreate their favorite match moments at home, the good news is that there are 1,050 homes currently available across the country, each boasting its own tennis court. These properties offer not just a place to live, but a lifestyle that embraces the spirit of the game. With a median price tag of £1.35 million, these homes are at the upper end of the market. In fact, this year’s Championship runner-up, who will receive a…

As the school year wraps up and summer holidays beckon, letting agents like ourselves are gearing up for a bustling period. It’s a busy time for us, as around a third of all new tenancies for the year commence within the next three months. According to data from Dataloft Rental Market Analytics by PriceHubble, an average of 33% of new rental contracts are initiated during July, August, and September, based on figures from 2016 to 2024. This vibrant season sees a significant turnover of rental properties. Graduates embark on new career adventures, students arrive at universities for the first time,…

A critical lack of housing undersupply is a well-known issue in the country’s housing market. Previous governments have promised to build more homes, but planning and financial obstacles have often hindered progress. Now, the new Labour government has stepped up with an ambitious plan to address this long-standing problem. Labour has pledged to build 1.5 million homes over their first five years in office. This ambitious goal translates to 300,000 homes per year, mirroring the pledges of prior Conservative administrations. The urgency of this issue is highlighted by a Redfield & Wilton Strategies poll from June 21st, which places support…

As an estate agent in Lancaster, I find it essential to provide a clear perspective on the local and national property markets, countering media myths. Despite ongoing predictions of a housing market crash since September 2022, both the British and Lancaster property markets remain stable. National Homes for Sale To assess market health, we first look at new property listings. In Q2 2024 (April, May & June), 450,486 properties were listed for sale across the UK, higher than the 411,927 listed in Q2 2023 and the seven-year Q2 average (2017-2023) of 399,581. The average price for a new listing in…

The UK property market has shifted significantly during the pandemic. A notable change is the rise in properties for sale due to ‘buyer’s regret.’ Many homes purchased in 2020 and 2021 are now back on the market. Currently, 694,281 properties are for sale in the UK, with 8.2% owned by post-lockdown buyers. This article will explore this trend in Lancaster, examining the reasons and implications for the local housing market. The Post-Lockdown Buying Frenzy in Lancaster The pandemic has significantly impacted the UK property market. After the first lockdown in spring 2020, remote working became common, prompting many to seek…

The UK General Election’s impact on the property market so far, both nationwide and in Lancaster, has been minimal, with market trends, buyer interest, and property values remaining stable despite political anticipations. Economic fundamentals, interest rates, and housing supply continue to exert greater influence over market dynamics. Lancaster homeowners and buyers have prioritized these fundamental factors, showing resilience in their property decisions. Regardless of election outcomes, such as predictions of a Labour ‘Super Majority’ or a potential ‘Starmer Surge’, the market’s direction is more influenced by broader economic conditions. Increased competition is expected as more homes are listed for sale…

This week’s 60 second investment comes from Kellet Court, just off of Fairfield Road in Central Lancaster. It is a 1 bedroom, ground floor apartment in a small development with some lovely communal gardens and areas to sit. It has a good size lounge, fitted kitchen and bathroom as well as the double bedroom. It comes with the additional benefit of its own parking space but is also located right next to Lancaster train station for people who need to go further afield. There is easy access to the city centre as well as local walks. It is currently on…

The UK’s property market is complex, with many factors affecting prices. A key yet often overlooked indicator is the price per square foot, which allows for consistent comparisons. This article explores these figures for the UK, North West, and Lancaster, highlighting the importance of this metric. National Trends: The UK Perspective  UK property prices have varied greatly over the last 30 years. The price per square foot, a useful measure of these changes, averaged £343/sq.ft in Q2 2024, up 4.61% from Q1 2023. This figure reflects diverse markets, from London’s bustling districts at £1,187/sq.ft to rural areas like Shildon in…

The UK property market has shown surprising resilience despite economic challenges over the past 18 months. Analysts predicted a severe downturn in house prices in the autumn of 2022, expecting declines between 20% and 35% due to economic uncertainty, a cost-of-living crisis, and rising mortgage rates. However, house prices have remained relatively stable. Contrary to grim forecasts, UK house prices fell only modestly by 3.12% since their peak in autumn 2022, according to Land Registry figures. Recent data indicates a slight increase, with house prices in April 2024 being 0.89% higher than in April 2023. Real-time data from Denton House…

Over the past few years, the UK rental market has experienced significant fluctuations, with rents increasing dramatically during the Covid-19 pandemic. Between 2020 and 2022, demand far exceeded supply, driving rents to unprecedented levels.   In the North West for example, the average rent has risen from £803 per calendar month (PCM) to £1,076pcm YTD in 2024.  However, the last 12 months have seen a slight increase in the number of properties available for rent, both nationally and regionally, leading to a more balanced market. This article will explore these trends and see if the same is happening in Lancaster.  National…

What is happening in the Lancaster Housing Market? Rightmove has just reported that asking prices on the portal are at an all-time high. The average house is now listed at an all-time high of £375,131, climbing 0.8% from the previous month. The top-of-the-ladder sector is driving price growth, with 4-bed detached and 5+-bed properties increasing 1.6% in the last month, ascending higher than the first-time buyer and second-stepper segments. But what is happening to selling prices? Look at that and the picture is rather different. Closer to home in Lancaster, the average property in May was listed at £237,715. This…

It’s less than a week since the Summer election was called and already we have had conversions with at least 20 buyers/sellers about how it will affect the Lancaster housing market. Whilst some may fear an election could pause market activity, here at JDG we are finding that so far, it is still business as normal. We can say that confidently having agreed 35 sales already this month and having received 4 new offers on homes yesterday alone. Housing transactions move in seasonal patterns with peak activity usually in July or August. The delay from sale agreed…

The recent announcement by the British Prime Minister regarding the next general election set to take place in early July 2024 has inevitably stirred discussions about its potential impact on the Lancaster property market. Historically, general elections are periods of heightened uncertainty, often leading to speculation about their effects on house prices and transaction levels. However, examining past trends reveals a relatively stable market, with only minor fluctuations in transaction volumes. House Prices To Remain Steady Data from previous election cycles indicates that UK house prices, as measured by the Land Registry figures, have shown resilience in the face of the last…

This week’s 60 second investment comes from Ashwood Court in the Greaves area of Lancaster. It is a one bedroom apartment with bright and airy rooms. It comes with its own dedicated parking space as well as visitor parking. There is easy access to local amenities as well as the canal and Royal Infirmary. It has been successfully let for a number of years and this block is always popular with tenants given the access to local employers. It is on the market for £97,500 and with a potential rent of £600 pcm you could expect to gross annual returns…

Lancaster, a vibrant city with a diverse property market, offers countless opportunities for homeowners seeking their next home. However, navigating this landscape requires a strategic approach to avoid common pitfalls. If you’re a current Lancaster homeowner weighing up your options for a potential move, this guide will shed light on some key factors to consider.  The Diverse Landscape of Lancaster Properties  Lancaster boasts an array of properties varying in age, size, and style, which means there’s something for everyone. Some homebuyers prefer newly built homes for convenience and low maintenance, while others opt for established homes. These older homes offer…

Are you waiting to sell your Lancaster home because of an upcoming election? If so, you are not alone. We see it everytime there is an election. We saw it with Brexit. We saw it with Covid. We even see it when Christmas is coming up! Except for Christmas, why do people wait? Often it comes down to the feeling of uncertainty. People fear change, they fear the unknown. That’s why we thought we would take a look at the impact of the past six elections on prices in the housing market. Did you know? The average price growth in…

Today’s topic is a sensitive one. We are discussing rental growth and how rental prices have increased considerably since COVID-19. In the past 5 years, mainly due to a mix of high rental demand, a huge shortage in rental properties and an increase in costs that landlords are experiencing, rents have increased in Lancaster by an average of 22.2%. That saying, in the same period, the minimum living wage has also increased by 32%. The problem is, that everything else has also increased hence affordability is now increasingly critical and rental growth rates are expected to moderate. UK annual rental…

Most days now, Lancaster landlords and tenants ask us about the renters reform bill. Questions range from, What is it? When is it coming in? How will it affect me? This is why we have written this short article which features the key points. If you would like to discuss it in more detail, please just contact me. For this article, I want to try and keep it simple! What is it? The Renters (Reform) Bill is one of the most significant pieces of legislation for private renters and landlords in the past 30 years. At the end of April,…

Did you know, across the UK, Lancaster included, terraced houses are the property type selling the quickest across the UK, at an average of just 56 days, followed closely by semi-detached houses at 58 days. Flats are taking an average of 75 days, while detached houses are taking the longest to sell at 78 days. However, with demand rising as we move into the warmer months, Rightmove reports that the average time to sell is coming down. The average property took 64 days to sell in March, the lowest level since October 2023 and significantly quicker than…

May is here and with the anticipation of the warm summer months ahead of us, with sun-drenched hot beaches and cold ice cream, any thought of Christmas seems a million miles away.  Yet many people who wish to move would like to be in for Christmas.  If that is you, listen up, as you might be surprised by what I tell you. Lancaster home buyers and sellers dreaming of celebrating Christmas 2024 in a new home, the time to act is running out.  The average time it currently takes to find a buyer in Lancaster is currently 71 days. The…

Rightmove have just released their rental tracker for the first quarter of 2024 and I just wanted to shared what is happening in the private rental sector.

This week’s 60 second investment comes from Abram Close down on St Georges Quay. The property is a two bedroom apartment which has been tastefully decorated to a high standard. It offers open plan living, two bathrooms and its own parking space. It is ideally located for walks down the Quay, as well as access to the city centre. It is on the market for £150,000 and with a potential rental income of £850pcm, you could expect to see annual returns of £10,200 which is a 6.8% gross yield. For more information please give us a call on 01524 84332…

Week 8 of our JDG questions and answers looks at the topic of EPCs. These are important for both sales and lettings – check out what Michelle and Josh have to say about them! Let us know if you have your own sales of lettings question you would like answered! Posted in Hints and Tips Tagged AskJDG, JDG Estate Agents, jdg gallgher, lancaster property, lancaster property market. Bookmark the permalink.

Today’s 60 second investment comes from the city centre of Lancaster on Bulk Street. Equitable house offers a range of different apartments and this particular on has two bedrooms. It offers double height ceilings with character features such as exposed beams and sash windows to some rooms. It has an open plan kitchen living area and three piece bathroom. Whilst it does need some cosmetic work to maximise the rental potential, it offers big, bright spaces which will appeal to professionals looking to rent in the area. It is located just off of Dalton Square with easy…

What is the difference between Multi Agency and Sole Agency agreements when selling your home? That’s our question for Michelle in Episode 7 of our ask JDG Q&As. If you have any questions for Michelle, just give us a call on 01524 843322!

This week’s 60 second investment comes from Denmark Street in the Marsh area of Lancaster. The 3 bedroom, mid-terrace property offers bright, neutral living spaces with a modern kitchen and bathroom. To the rear there is a generous yard which is often a rarity in mid terrace properties. It has great access to local amenities as well as access to some lovely local walks. It is on the market for £150,000 and with a potential rental income of £750pcm you could expect gross annual yields of £9,000 which is a 6% gross return. For more information, please…

A few weeks ago, I stated that of the Lancaster properties that have sold subject to contract (stc) in the three months of Dec, Jan & Feb, it took an average of 62 days to sell. The UK average was 78 days. Time has moved on and now, looking at the last 3 months, the average Lancaster home is on the market for 56 days before agreeing on a sale. This week we wanted to look at saleability rates in terms of property type and number of bedrooms. Saleability can be measured in several ways. One method is to calculate…

We often think of great access to green space applying more to the countryside than built-up areas but there is a surprising amount of green space (parks, playing fields and other accessible green space) in our towns and cities with much of it within easy reach. Analysis of recently published data from the Ordnance Survey shows that around 1 in 5 homes in Great Britain are within 100m of a green space with the average distance being 301m. Research by University of Warwick found that people living within 300 metres of a 1ha (2.47 acres) green space…

It is Week 6 of our JDG question and answer sessions. This week we look at Inventories on the rental side and Josh answers ‘what are they and why are they important?’ If you have your own questions or would like any further info – just get in touch!

In the articles on the Lancaster property market, we like to provide an insight into the real story of what is happening in our Lancaster (and national) property market and address the misconceptions that some of the media have been spreading.  Despite almost daily reports of a housing market crash since September 2022, the data shows that the British (and Lancaster) property market is doing OK.  So, let’s dive into the stats and start with the life blood of the housing market – new properties coming on to the market. Nationally, 444,668 UK properties came onto the market in Q1…

Many Lancaster people I talk to in their late 30s to late 40s are relying on the inheritance from their baby boomer generation parents to help them in their home-buying and retirement future.  It is true there is £2 trillion (£2,040,861,524,790 to be exact give or take a few pennies) tied up in equity in the property of everyone in the UK who is aged 65 years and older (to add context to that the NHS costs £181 billion per year, well under a tenth of the equity tied up in property).  With additional investments in stocks and shares including…

Did you know? It is almost 16 years since EPC’s first came into regulation if you wanted to sell your home. For years buyers paid little interest in them, they had very little impact on a buyer’s decisions, nor did they affect what a buyer offered. Fast track to 2024, and people do care. We have been through rising energy bills and a cost-of-living crisis. A recent survey showed 39% of buyers see it as important, up 5% from this time last year. Energy-efficient homes also tend to command a higher price. It makes sense. Energy-efficient homes tend to have…

This week is week 5 of our Q&A sessions with Michelle and Josh. In this episode, Michelle explains to us what Material Facts are and what the parts A, B and C are. If you want to know more or have a question of your own, give us a call on 01524 843322

Whether you are a Lancaster landlord looking to liquidate your buy-to-let investment or a Lancaster homeowner looking to sell your home, finding a buyer and then getting the legal work done can take a frustratingly long time.   It is a step-by-step process that can take many months.   One of the worst parts of house selling is not knowing how long you might be stuck at each step. Independent research shows that, in the last 12 months, every estate agent in the UK has taken on average, 68 days from the property coming on the market to be sold subject to…

This week in Episode 4 of our Sales and Lettings Q&A we focus on the topic of Right-to-Rent checks and what they mean for new tenants moving into a property. If you have any questions you would like covering – drop us a message on [email protected]

It’s almost Easter. The Easter bunny has visited the JDG office with Lindt bunny gifts for the JDG team. We will all be on a chocolate high this weekend. Because it’s Easter, talks in the office turned to chocolate with Michelle asking everyone how they eat their cream eggs and the lads debating which their favourite chocolate brand is. Our data research team joined in but from a factual point of view! Did you know? The Easter Bunny is hopping into action this year, dropping off over 80 million easter eggs that are sold in the UK…

We are at Episode 3 of our sales and lettings Q&As – covering all of the popular questions we get asked in just 3 minutes! This week, Josh grills Michelle on AML checks! If you have a sales or lettings question you would like to ask, drop us an email on [email protected]

At the beginning of each month, I always prepare my market update report for LA1. However, in addition to that report, I thought I would take a different approach, this time incorporating the data from LA2 and comparing it to the national market. For February 2024, the UK property market has seen a continuation of the solid start in the first month of the year. Therefore, in this article, I want to see if that national trend mirrors or differs from the local market in Lancaster.  In the first nine weeks of 2024 (up to the 3rd March…

Welcome to Episode 2 of our 3 minute Q&As. This week, Michelle asks Josh all about the differences between a traditional Deposit and the deposit alternative, Reposit. If you have any property questions you would like answering, let us know by emailing [email protected]

How often do people move? I know people who have moved every few years and people like my Mum who have lived in their homes for 50 years plus. Over the last six years, 76,669 UK properties have sold each month, meaning the average British homeowner moves every 16 years and 7 months.  This data disproves a standard theory that British neighbourhoods are becoming more fleeting and transitory. On the face of it, they show that once you have bought a property you can call home, there isn’t much motivation to move again.  So, are fewer people moving home?   While…

Spring is almost here and lots of Lancaster homeowners are getting their homes ready for marketing in the Spring. Easter is early this year which is bringing many homeowners moving plans forward. Lots of homes are getting valued, I can this confidently having already booked 250 valuations so far this year and it’s only early March! Spring has long been acknowledged as the best time to sell, with flowers blossoming, the sun coming out and gardens springing back to life. It’s no wonder people’s thoughts turn towards moving home! In the past five years (excluding 2020 due to Covid), springtime…

Welcome to our new 3 minute Q&A episodes where we delve into the most common questions we get asked at JDG Estate Agents. This week, it is a Sales question and we ask Michelle, ‘What is the difference between freehold and leasehold? If you have any property related questions, you would like answering, drop us […]

This week’s Lancaster investment comes from Dunkeld Street in the Moorlands area of Lancaster. This mid-terrace offers two great sized bedrooms as well as a good sized lounge with open stair case and views through to the fitted kitchen. There is a generous modern bathroom on the ground floor too. Close by there are local amenities as well as access to both the city centre and Williamson Park. It is on the market for £140,000 and with a potential income of £700pcm, you could expect to see gross annual returns of £8,400 which is a 6% gross…

41.16% of Lancaster households are 3–bedroom homes. Is that enough?  As a local estate and letting agent in Lancaster, it’s essential to analyse property trends, particularly focusing on bedroom distribution in different tenures. This detailed examination helps homeowners and landlords in making well-informed decisions, categorizing properties based on ownership and bedroom count. Looking at different types of homes—like ones owned, ones owned with a mortgage, ones rented privately, and ones provided by social housing—helps us understand what people in Lancaster are looking for in housing. This is important for locals to know about because it gives us an idea of…

The UK’s property market is facing a significant challenge as the availability of homes for rent has plummeted to its lowest level in five years, exacerbating the difficulties tenants face in finding affordable accommodation.   This alarming trend was highlighted in a recent analysis, which revealed that in 2023, only 261,542 private rental homes were available per month in the UK, marking a steep decline from the 379,459 monthly average of rental homes available in 2020 – a drop of 31%, underscoring a worrying trend that has been developing over recent years.  This scarcity of rental properties is occurring against a…

Love is in the air….. This week in the JDG office talk has turned to Valentine’s Day and who plans to celebrate. We’ve all got bets on who will get flowers in the office, and I can tell you this year, having just moved home, it’s not going to be me! Renovation costs of our new home mean that we have agreed to be sensible, although I will cook a romantic dinner for 3 (we can’t leave Boots out!) Across the UK there will be lots of people viewing homes, we’ve already got 10 viewings booked in. It’s seen as…

The number of agreed UK property sales until the last Sunday of January (28th) is 8.35% higher than a year ago. Tumbling mortgage costs have encouraged buyers and sellers to return to the property market.  The market is more buoyant. Every UK region has seen an increase in the number of properties selling (subject to contract) in January 24 vs January 23; the most significant rise was found in Inner London, which was up 25.14% year-on-year. The smallest rise was in Scotland at 4.45%.  As well as increased property sales, the supply of UK properties on the market is 13.95%…

This week’s 60 second investment comes from Victoria Wharf on St Georges Quay in Lancaster. This first floor apartment offers open plan living, incorporating a kitchen diner as well as a good size double bedroom and bathroom. It is in a great location right on the quay with easy access to the city as well as walks along the Lune. The views can be enjoyed from the Juliette balcony in the living space. It is currently on the market for £115,000 and with a potential rental income of £725pcm, you could expect to see annual gross returns…

As an experienced estate agent in the Lancaster community, I’ve always prided myself on offering transparent, informed advice to local homeowners. Today, I’d like to provide a balanced perspective on the current housing market trends and what they could mean for those contemplating selling their Lancaster homes.  The housing market is an ever-evolving landscape, and recent forecasts present a mixed bag of predictions that Lancaster homeowners should consider before placing their ‘For Sale’ signs in their front gardens. According to the latest data, while the property market shows signs of recovery, it may be prudent for some sellers to exercise…

Have you dabbled with AI yet? The chances are you have. Many of us have now tried Chat GPT. We’ve used photograph filters online. Even Google is an early form of AI – a computer doing the heavy lifting when it comes to research. 2023 was the year when AI took a big leap forward, and it’s something at JDG we are embracing whilst still remembering that clients still want the personal touch! It’s interesting seeing how the use of AI is growing in the estate agency industry. The latest research reveals that almost 50% of agents…

Today I want to chat about the rental market. Several times a week I get asked about rental prices. These questions often get by prospective residents (tenants) and of course, new landlords to be. There is no doubt about it. Rents have risen rapidly over the past few years. Across the UK, there has been an average increase of £135 extra per month since Q4 2022 and £450 per month since the same quarter in 2019. This has put increased pressure on tenants, especially when combined with an increase in the cost of living. During the same period, many landlords…

As an experienced estate and letting agent based in Lancaster, I have been closely monitoring the trends in the UK property market. As of January 11th, 2024, the market has shown a solid start, a trend worth exploring, especially in how it might mirror or differ from the local market in Lancaster.  In the first 11 days of 2024, the UK property market recorded 22,402 homes sold subject to contract (stc). This figure represents a significant increase compared to the first 11 days in 2023, where only 15,735 properties were sold stc.  This is an impressive 42.37% increase in the number…

I love property data. I love to know what is selling, where it is selling and what property type is selling. I look for trends and patterns. By knowing what is happening, I can truly advise my clients better. The latest data shows over 900,000 property transactions across England and Wales have taken place in the last 12 months. Across the UK terraced houses continue to have the highest volume of sales (in Lancaster, terrace homes accounted for 8.6% of all recorded sales) however 2023 saw a sudden change for detached and semi-detached houses. 12 months ago, semi-detached houses accounted…

This week’s 60 second investment comes from Westham Street in the Primrose area of Lancaster. This mid terrace offers 2 bedrooms, a generous living room as well as modern kitchen and bathroom. It is in a popular area with easy access to the city centre as well as the universities and Williamson park. It is on the market for £137,500 and with a potential rent income of £700pcm you could expect to seem annual returns of £8,400 which is a 6.1% gross return. For more information, please click below or give us a call on 01524843322 https://www.jdg.co.uk/property-details/-/lancaster/westham-street-1

Did you know? Rightmove has just reported that the average new seller’s asking price rose by 1.3%, the biggest price rise for January since 2020. This is over double the 20-year average of +0.6%. Headlines like this concern me and can sometimes be confused by home sellers that house prices are rising. January is always a hectic month as estate agents fuelled up by a new year, get excited by the fact that this will be their year and “sometimes” like to try and push the price in the hope of winning the instruction. Let’s look at…

In a recent financial turn, Lancaster residents are experiencing a wave of relief as mortgage rates across the UK take a surprising dip. This reduction, led by major lenders, signals a potential opportunity for the Lancaster housing market, directly affecting homeowners, landlords and first-time buyers in the city. Let’s delve into what this means for the local market, weighing up both the opportunities and the need for realistic expectations. The Welcome Decline in Mortgage Rates Leading the charge, Halifax announced on the 2nd of January a significant 0.83% cut in its re-mortgage deals, a move promptly followed by other financial institutions. …

As we move forwards into 2024 there are sure to be some interesting changes ahead of us in the Lettings Industry. We spoke last year about the Renters Reform Bill and I just wanted to provide an update on progress.  Check out the video and if you have any questions, please don’t hesitate to get in touch on 01524 843322 or drop me an email [email protected] The links referenced in the video are below: Parliamentary Bills Website Actual Renters (Reform) Bill – As amended in public bill committee

Your latest insights into the Lettings Industry – January Edition! We like to keep up to date with the latest goings on in the industry and share them with your- here is your lowdown on what is coming up. We also review the latest stats from December 2023. Let us know if you have any questions or how these changes could affect your property portfolio by giving us a call on 01524 843322 or email [email protected]

This week’s 60 second investment comes from Mill View House in the popular Aalborg Place development in Lancaster. It has an excellent location right next to the canal and local restaurants and bars as well as easy access straight into the city. The apartment itself is a modern studio with contemporary kitchen and bathroom. It has some fantastic built in storage to keep the space clean and tidy and what’s more is that it has an entire double fold down bed hidden seamlessly in the storage units – helping to maximise the living space. It is on…

As I review the performance of the Lancaster property market in 2023, it’s evident that despite the challenges, the housing sector in Lancaster has shown remarkable resilience. At the beginning of the year many commentators suggested house prices would drop like a stone in 2023. The Halifax thought there would be an 8% drop, Savills suggested 10%, and the respected Nomura Bank 15%, yet according to the Land Registry, they ended 0.5% higher. Looking at the Land Registry figures for Lancaster … Lancaster house prices are 2.4% higher than a year ago The final quarter (Q4) of 2023 recorded above-average…

The Lancaster housing market, like many others, has experienced a notable shift in 2023. The percentage of home sales agreed and moved (completed) compared to those withdrawn from the market unsold has decreased relative to 2022. At JDG we like to look at independent data. In this article we look at the data for the entire Lancaster area (LA1 and LA2). In 2022, 75.8% of properties that left the books of Lancaster estate agents agreed a sale, exchanged contracts, and the owners moved home. (1,167 Lancaster area properties exchanged and completed vs 372 properties that withdrew from the agent’s books,…

In the ever-changing landscape of the Lancaster property market, predicting future house price trends can be akin to navigating a labyrinth. The past two years have witnessed unprecedented upheaval, primarily due to fluctuating interest rates that have significantly impacted household finances. For some, it has felt like 2008, all over again. The average rates for fixed-rate mortgages have dramatically risen, since late 2021. This hike in the Bank of England base rates has led to a substantial increase in monthly mortgage payments, consequently affecting people’s ability to purchase new homes. However, the Lancaster property market has begun to show signs…

In today’s climate, it’s easy to paint landlords with the same brush – viewing them solely as money-grabbing opportunists.  As a letting agency that’s part of a network of like-minded agents, we get to see the rental business’s good, bad and ugly side. Yes, there are some unscrupulous, greedy landlords. We do our best to avoid these. However, many landlords strive to do the right thing for their tenants. We’ve gathered some inspiring tales that highlight the, more often than not, unpublicised acts of kindness that landlords have done and continue to do. In one remarkable situation, a landlord had…

This week’s 60 second investment comes from St Georges Quay and is a fantastic one bedroom, top floor duplex apartment. It is well presented with a modern kitchen and bathroom and the top floor living room offers excellent views across the river Lune. It has the excellent additional benefit of a private courtyard to the rear – a rarity for a top floor apartment! There is a residents permit scheme operating to the rear for parking. Close by, there are local restaurants and bars as well as the hustle and bustle of the city centre not far away. It is…

This week’s 60 second investment comes from the popular Lune Square development in central Lancaster. The property is a top-floor, one bedroom apartment. It has been kept in excellent condition and is well maintained and presented. It offers spacious open plan living with contemporary kitchen and bathroom. It’s in a fantastic location, right at the beginning of St Georges Quay as well as easy access straight into the city centre and further afield via the bus station. These apartments are always popular with tenants and this one has a great history of being let both long and…

Inflation, interest rates, house prices down, house prices up … the newspapers are full of column inches on Britains second favourite topic – the property market (the first being the weather obviously!).  Those of you that read my monthly market updates will know I like to look closely at what is happening in the Lancaster Housing Market. Across the UK, house prices are up in one region, yet down in another. In Lancaster, they have remained relatively stable over the past 12 months. However, what is actually selling? Is there just one Lancaster property market or many?  I decided to…

Property investment has long been a staple in British retirement planning.   The introduction of the buy-to-let mortgage over a quarter-century ago marked a significant turn, presenting opportunities for dual returns: rental income in the short term and capital growth in the long term. You can see why there are a substantial number of Lancaster landlords who view property investment as a cornerstone of their retirement strategy.  However, this path is full of challenges. Recent shifts in tax and regulatory landscapes, coupled with escalating interest rates, have imposed pressures on profitability, compelling some landlords to reconsider their positions. Thus, becoming a…

This week’s 60 second investment comes from Grove Court on Brunton Road in the Greaves area of South Lancaster. This is a fantastic first floor apartment which is well presented and recently decorated. It has a modern kitchen and bathroom. It also comes with its own allocated parking space which is very handy in this area as on street parking can get a bit busy! We have successfully let the property below and properties in this area always tend to rent well due their proximity to the hospital and easy access via local transport to the university…

As we stand at the threshold of 2024, facing economic uncertainties and a shifting housing landscape, the significance of correct pricing in Lancaster’s property market has never been more pronounced.   This comprehensive guide delves into the crucial aspects of property pricing and its profound impact on the property market transaction process.  Lancaster’s Property Market: A Brief Overview   Lancaster’s property market presents a unique blend of historical charm and modern appeal. The Lancaster property market caters to diverse preferences, from classic village properties and 19th-century homes to contemporary modern homes, from terraced homes, apartments, flats, maisonettes, and detached and semi-detached homes.…

As it is December we thought we would share some fun Christmas facts with you and today it’s about Christmas Number 1’s and how property prices have risen in that time. It all started when Craig told the team that Lad Baby had decided not to release a Christmas song this year, despite their fantastic success over the past 5 years, with 5 number ones. It will be interesting to see who takes the number one spot. Will it be Creator Universe — I Wish It Could Be Christmas Every day, with all funds raised going to the Trussell Trust…

It’s December. And despite all the festive frivolity, we have been chatting with local landlords who are planning to expand their portfolios in 2024. A big focus has been on what is renting? On one hand, we could easily say anything and everything, however over the past 6-9 months we have seen a gradual change as to what tenants are looking for and it centres around affordability. As this is becoming a regular conversation, we thought we would share our findings with you as rising rents and the cost of living are impacting the choices that renters…