Area Guide For Lancaster

Lancaster is the county town of Lancashire, It is situated on the River Lune and has a population of 45,952. Lancaster is a constituent settlement of the wider City of Lancaster, local government district which has a population of 133,914 and encompasses several outlying settlements, including neighbouring Morecambe. Long existing as a commercial, cultural and educational centre, Lancaster is the settlement that gives Lancashire its name. Lancaster has several unique ties to the British monarchy; the House of Lancaster was a branch of the English royal family, whilst the Duchy of Lancaster holds large estates on behalf of Elizabeth II, who herself is also the Duke of Lancaster. Lancaster was granted city status in 1937 for its "long association with the crown" and because it was "the county town of the King's Duchy of Lancaster". With its history based on its port and canal, Lancaster is an ancient settlement, dominated by Lancaster Castle. It is also home to the collegiate and campus-based Lancaster University and a campus of the University of Cumbria The city's name, first recorded in the Domesday Book in 1086 as Loncastre, where "Lon" refers to the River Lune,


Lancaster Map

Estimated Price: £180,319
Average Asking Price: £221,839
Price change in last one year: £10,759
Average Price Paid: £165,661
Average Rent Rates: £556


Property Prices Breakdown in Lancaster

Average Price for property in Lancaster is around £180,319 which varies based on type of property you are interested in and ranges from £323,601 for detached house to around £170,645 for semi-detached. Similarly terraced house is around £138,247 and a flat is worth £122,188. Values have been changing and have risen £977 in last 3 months alone. Similar historical trend can be observed in price changes e.g. prices changed £603 in last 6 months, £10,759 in last 1 year, £14,101 in last 2 years, £20,781 in last 3 years, £14,181 in last 4 years and £11,341 in last 5 years.

Currently average asking price of a property in Lancaster is around £221,839 based on approximately 969 properties for sale. Same is the case with rental options based on 110 properties up for rent, average asking rent is around £556 per month.

Estimated property value in Lancaster is £180,319. Average asking price is £221,839 while average price paid is £167,181 which is up by £10,759 and Avg. asking rent £556.Based on an Online Survey

Buyers are willing to pay high dollar prices to grab these properties because of the recent trend in real estate investment especially in Lancaster area. In last 1 year alone average price buyer paid is around £167,181 based on approximately 969 sales in Lancaster area alone. If you compare it to last 3 years sales of 2,714 properties where buyers paid around £165,121. It has been same for some time now for e.g. if you take an average of amount paid in last 5 years, it comes to around £165,661 for 4,463 and average amount paid for purchase of approx. 6,107 properties sold in last 7 years comes to about £163,522 per sale.


Properties For Sale in Lancaster


Breakdown of asking prices for homes of different sizes show that price varies clearly based on no of bedrooms and type of house. Asking price for a house with 1 bedroom is around £87,333, £138,468 for a 2 bedroom house, £202,223 for a 3 bedroom house, £280,656 for a 4 bedroom house and £425,629 for a 5 bedroom house. For a flat similarly the prices varies from £98,428 for a single bedroom to £138,478 for a 2 bedroom Flat. Same is the case with 3 bedroom flat £168,390. To sum up the asking prices for properties in Lancaster it comes to around average £97,355 for 1 bedroom property, £138,472 for 2 bedroom, £201,267 for 3 bedroom, £280,656 for 4 bedroom and £425,629 for a 5 bedroom property.

Rent per calendar month varies similarly based on type and size of the house. If you look at the rents per month for houses alone it can vary from £505 for 1 bedroom to £564 for 2 bedrooms, £614 for 3 bedrooms, £434 for 4 bedrooms and £505 for 5 bedrooms house. But if you are interested in renting a 1 bedroom flat then rent per month can be around £524. As the no. of bedroom increase so will the rent e.g. for a 2 bedroom flat it will be around £611 and £550 for 3 bedroom. You should be generally be expecting around average £517 rent per month for single bedroom property, £582 for 2 bedroom, £611 for 3 bedroom, £434 for 4 bedroom and approximately £505 for a 5 bedroom property in Lancaster area.

Popular Houses in Lancaster

Disclaimer : Location real estate estimates and values are based on House price index background data and Sales data provided by United Kingdom Land registry Records available as public records from their website. This information is updated monthly on our website and may not reflect all public transactions. This information is based on estimated calculation generated from our developed algorithms. We are striving to make this information as accurate and useful as possible. This data covers the transactions received at Land Registry in the period 1/1/1995 to 9/1/2014. © Crown copyright 2014. Data produced by Land Registry © Crown copyright 2014.

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