2020 was said to have prompted a 'life’s too short' attitude in buyers from all over the UK looking for their dream home in the Lake District.
In some areas, property sale ceilings have been smashed, with new record prices achieved.
AshdownJones Estate Agents, based in Windermere, report unprecedented demand, following a drop in supply, especially in the premium homes market.
“Take Levens, near Kendal, as an example,” says Sam Ashdown, co-owner of AshdownJones. “The previous highest property sale was just over £800,000, but Whinthwaite House achieved £1,500,000 last summer. In fact, we had a waitlist of buyers wanting to buy that home, so high was the demand.”
Levens is not alone in its record-breaking prices; Ashdown also reports exceeding highest sales records in Troutbeck, Keswick and Wray.
Another popular property include Balla Wray at High Wray near Ambleside which was listed for sale for £3.5million.
Described by Ashdown Jones, as 'the holy grail of Lake District homes' the property featured in ITV drama Deep Waters.
“It’s been a challenging year for many businesses,” notes Phil Jones, Ashdown’s business partner. “But we’ve calculated that as a business, we’ve generated over £1 million in Stamp Duty in 2020 alone.
“That’s just one estate agent out of the 53 that cover the Lakes,” Jones continues. “We consider our industry to be a vital contributor to the UK economy, not to mention a valuable employer. We employ 17 people, at a time when well-paid jobs are in short supply.”
Clearly, being able to remain open during the last two lockdowns has given the property industry a boost. Buyers have been able to continue viewing and buying homes, albeit with stringent health and safety measures in place.
Property stock is down around 25%, year on year, leading to higher prices and buyers competing for the best homes.
“It’s certainly a seller’s market right now,” says Jones, “but we don’t know for how long. Our advice to people considering selling is to get professional advice now, rather than wait to see how things pan out after lockdown.”
There’s no doubt that some industries have suffered financially during 2020, but with success stories like AshdownJones, and the new vaccine rollout, businesses in the Lakes have every reason to be hopeful for a more successful 2021.
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