The property market is always evolving, and as we step into 2025, it’s the perfect time to take stock of the trends shaping Lancaster and the surrounding North Lancashire region. Whether you’re buying your first home, upgrading to a larger property, or selling to take advantage of a strong market, staying informed is crucial. Here’s a comprehensive look at the key property trends for 2025, along with practical advice to help you navigate the year ahead.
1. House Prices Stabilising but Remaining Resilient
After years of market fluctuations due to economic uncertainties and rising interest rates, 2025 is expected to bring greater stability to property prices in Lancaster and Morecambe. According to the latest reports, average house prices in Lancaster remain around £211,000, with terraced properties averaging £178,876 and semi-detached homes at £232,954.
What This Means for You:
- Buyers: With prices stabilising, it’s a good time to enter the market without worrying about steep increases. Look for properties in up-and-coming neighbourhoods like Heysham and Bare, where value for money is still excellent.
- Sellers: While prices may not rise dramatically, demand remains strong, particularly for family homes. A professional property valuation can ensure you list at the right price.
2. Energy Efficiency Becoming a Priority
With rising energy costs and increasing awareness of environmental concerns, energy-efficient properties are in high demand. Buyers are now actively seeking homes with features such as modern insulation, double glazing, and renewable energy systems like solar panels.
What This Means for You:
- Buyers: Ask your surveyor to assess the energy efficiency of a property during your survey. An energy-efficient home can save you thousands in the long run.
- Sellers: Consider upgrading your property’s energy efficiency before selling. Small investments, like improving insulation or installing a smart thermostat, can boost your home’s appeal and value.
3. The Rise of Leasehold Reform Awareness
Leasehold reform continues to be a hot topic in the property world. Recent updates aim to make it easier for leaseholders to extend leases and reduce costs, creating more transparency in the system.
What This Means for You:
- Buyers: If you’re purchasing a leasehold property, understanding your rights and obligations is essential. Fisher Wrathall Surveyors can guide you through the latest leasehold reforms and help you avoid pitfalls.
- Sellers: If you own a leasehold property, consider extending your lease before selling to make your home more attractive to buyers.
4. High Demand for Rural and Semi-Rural Properties
The post-pandemic shift toward rural living remains a strong trend in 2025. Areas like Halton, Caton, and Hornby are attracting buyers looking for more space, quieter surroundings, and proximity to natural beauty.
What This Means for You:
- Buyers: Be prepared for competition in these desirable areas. A HomeBuyer Report can help you identify any potential issues before making an offer.
- Sellers: If you’re selling a home in a rural or semi-rural area, now is an excellent time to market its unique benefits, such as gardens, views, and community charm.
5. Older Properties Require Expert Attention
Lancaster is known for its beautiful older homes, from Victorian terraces to Georgian townhouses. While these properties are full of character, they often come with unique challenges such as damp, structural issues, or outdated plumbing.
What This Means for You:
- Buyers: Opt for a Building Survey if you’re purchasing an older property. This comprehensive assessment can save you money by identifying costly repairs upfront.
- Sellers: Ensure your property is in good condition before listing. Addressing obvious issues like damp patches or roof leaks can make a significant difference in attracting buyers.
6. Strong Rental Market but Challenges for Renters
The rental market in Lancaster and Morecambe remains buoyant, driven by demand from students, professionals, and families. However, with a shortage of affordable rental properties, landlords hold a strong position.
What This Means for You:
- Investors: Now is a great time to expand your portfolio, particularly in areas popular with students, like Bowerham and Scotforth.
- Renters: If you’re struggling to find a rental, be prepared to act quickly when properties become available.
How Fisher Wrathall Surveyors Can Help in 2025
Navigating these trends requires expert advice, and that’s where Fisher Wrathall Surveyors come in. Here’s how we can support you:
- RICS Residential Surveys: Whether you need a Condition Report, HomeBuyer Report, or Building Survey, we’ll help you make informed decisions.
- Property Valuations: Our RICS-compliant valuations are perfect for sales, purchases, and legal purposes.
- Leasehold Guidance: Stay informed on leasehold reforms and how they impact your property.
- Local Expertise: With decades of experience in Lancaster, we understand the nuances of the local market better than anyone.
Get Ahead in 2025
Whether you’re buying, selling, or investing, Fisher Wrathall Surveyors are here to help you make the most of the opportunities in 2025. Start by booking a survey, requesting a valuation, or speaking to one of our expert surveyors.
Contact us today to discuss your needs and take the first step towards a successful property journey this year.
