HOUSE prices across south Cumbria are on the increase, figures have revealed.
Statistics for 2014 show some towns in south Cumbria showed double digit percentage increases in value.
The news has been welcomed by local estate agents who say they have seen a steady improvement in the market.
David Sharpe, managing director of Ross Estates Agencies, said: “The market will continue to improve. It started last year and there was a genuine improvement, more activity, more people viewing properties.
“There was once a high supply of houses. We have seen in the last couple of months a slow down in the volume of properties coming on the market and that in reality helps the market as supply and demand levels out.
“It’s going to keep improving. There is more demand for the towns rather than the villages at the moment.”
In Barrow, prices increased by eight per cent. Terraced properties sold for on average £86,766, semi-detached properties sold for an average price of £147,875, while detached properties fetched £215,876.
The situation was similar in Ulverston where the average sold price of a home increased by seven per cent. Most of the sales were terraced properties which on average sold for £146,242. Semi-detached properties had an average sold price of £162,734 and detached properties averaged at £273,135.
Walney outperformed both, however, with prices increasing by 10 per cent to an average of £99,748, while in Askam, there was an even bigger rise, with sold prices up 14 per cent on the previous year.
In Dalton prices fell by nine per cent.
County-wide, most sales were of terraced properties which on average sold for £124,630. Semi-detached properties had an average sold price of £155,599 and detached properties averaged at £267,643.
Cumbria, with an overall average price of £170,738, was more expensive than nearby Lancashire (£148,560), Greater Manchester (£159,340) and Merseyside (£148,065). The most expensive area within Cumbria was Grasmere (£619,209) and the cheapest was Millom (£94,486).
Andrew Collins, branch manager of Farrell Heyworth in Barrow, said: “As far as Farrell Heyworth is concerned, in terms of sales and listings, it’s absolutely flying."
“As far as the market is concerned I think it’s going to be a steady rise this year. Barrow is a micro market so I think the agents have a direct impact on what goes on here. We are working hard and so the market is responding."
“I am looking forward to 2015, it’s going to be a stronger market. It’s also a great buy to let market for investors as investors can get a great turnover.”
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