Carlisle Post Election Property Market Report

H&H Land & Estates Carlisle Branch Manager, Paul Doyle, sees the benefits of stability for a city with bright prospects and affordable property

With the uncertainties of a run-up to a General Election behind us, we can begin to hope that a stable new Government will bring confidence back into the property market in and around Carlisle, and new investment in the future of our historic city.

The new Government has outlined policies that should continue to keep inflation low enough to persuade the Bank of England to reduce interest rates, which will clearly help to make mortgages more affordable and boost the housing market, particularly for first time buyers who are unable to take that crucial first step on the property ladder.

Even without that additional momentum, stability and confidence are the key requirements for any property market, and here in Carlisle we currently have a steady market. We have left the post-pandemic boom well behind us, and this is a good time to be both buying and selling.

Here at H&H Land & Estates we are seeing keen interest in the wide range of different types of property available in the area, from rural properties with land, village houses, family homes, and city centre property. Very recently we brought to market a rural property with land near Longtown, it immediately attracted a stream of enquiries, 20 viewings, and an offer within a week of being offered for sale.

The North West has always been a popular place to retire or make a lifestyle change, but Carlisle itself remains one of the more affordable places in the UK to buy property. While the average price of an established property (as opposed to new build) in England and Wales in June 2024 was £349k, the price of a similar property in the Carlisle postcode area was just £200k.

Under the new Government, that affordability might attract greater attention to Carlisle property, and to the many advantages the city has to offer. Carlisle is a beautiful city, surrounded by some of the UK’s most scenic countryside and on the doorstep of the unique Lake District National Park, the Pennines, the Solway Firth and Scotland.

This is a city on the move with exceptional transport links to the West Coast main line and to the M6. The University of Cumbria is moving into the city centre, and the Borderland Development initiative is investing significantly.

Affordability, accessibility, investment and stability should all help to make the Carlisle market attractive to buyers, but timing is also important, and if you are hoping to move by Christmas you need to bring your property to market as soon as possible, and of course we would be delighted to help!