Easter brings mixed picture of strength and caution in Western Lakes property market

Easter is traditionally a springboard for activity in the UK property market, but in the area of the western Lake District prevailing economic conditions are still having a cautionary effect on some categories of property.

With spring here, we are seeing a significant difference in market trends between different kinds of property in the Cockermouth and neighbouring areas.

On a positive note, second homes and properties suitable for holiday lets remain highly desirable in this area, and there remains a continuing steady stream of potential buyers who continue to relocate to our area for permanent residency.

Generally, the market remains price sensitive due to the continuing uncertainty surrounding mortgage interest rates. Sellers throughout our region are finding it necessary to reassess their initial pricing expectations, leading to numerous price reductions across the county.

The properties attracting the strongest interest are typically four-bedroom family houses priced in the mid £300,000 - £400,000 range. But second-hand new build properties are encountering difficulties in gaining momentum, primarily because there are so many of them on the market.

Previously in our area, unusual and remote properties were finding buyers relatively quickly and easily.  However, there's now a heightened sense of caution among buyers regarding factors such as access, boundaries, and wastewater legislation. While these properties are attracting interest and viewings, the process from initial marketing to reaching the under-offer stage has become more prolonged.

As always, it is important for sellers to prepare and present their properties to the very best advantage, and we welcome enquiries from any who would like our help and advice to bring their property successfully to the market.

For more information or to discuss your property needs, please contact the H&H Land & Estates Cockermouth team on 01900 828239 or at [email protected].