This intriguing question was raised by the teenage daughter of a Lancaster landlord who visited my office just before Christmas. It’s not every day someone asks you to calculate the total value of all the homes in a city! I didn’t have the answer immediately, but I promised to find out—and over the holidays, I did just that.
I calculated the total value of all properties in Lancaster and explored how much their value has risen since his daughter was born in autumn 2010. The results were fascinating.
In the past 14 years, the total value of properties in Lancaster has grown by 32%, adding an impressive £1.014 billion to reach £4.186 billion today. To put that in context, while the FTSE 100 stock market rose by 38.5% over the same period, inflation (measured by the UK Retail Price Index) increased by 51.1%.
Currently, the average price of a home in Lancaster is £200,825, based on sales within a 2-mile radius of the city centre over the past three months. Breaking this down further by property type provides a deeper understanding of the market dynamics:
- Detached Houses: Average price £412,500, contributing a total of £876.1 million.
- Semi-Detached Houses: Average price £223,050, accounting for £1.414 billion.
- Terraced/Townhouses: Average price £175,700, collectively worth £1.421 billion.
- Apartments: Average price £126,828, with a combined value of £472.5 million.
The consistent growth in Lancaster property values over the last decade and a half highlights the resilience and attractiveness of the market. But what does this mean for those looking to buy, sell, or invest in 2025 and beyond?
Lancaster’s property market benefits from several key factors that ensure its stability, even amidst wider economic uncertainties. Its appeal as a place to live, combined with the enduring demand for housing, underpins its long-term investment potential. Whether you’re a homeowner enjoying the appreciation of your property’s value, a first-time buyer seeking a foothold in the market, or a landlord building your portfolio, the evidence suggests Lancaster remains a wise and rewarding choice.
As we move into 2025, the Lancaster property market looks set to continue its steady performance, offering opportunities for growth and security.
For anyone curious about property trends or looking for guidance tailored to their needs, my team and I are here to help! You can email me at michelle@jdg.co.uk or call me on 01524 843322.
Thanks for reading and thanks Holly for the great question!
Michelle x
