Grace Oakey, property valuer at H&H Land & Estates, said: “The year started extremely well with the sale of six properties from our Penrith office during the first week of January alone.
“Since then, the market has continued to be just as busy, and we have seen an increased pipeline of properties being offered for sale compared to last year which shows a very positive trend.”
However, Ms Oakey did note some “complications” due to the government’s plans and changes to stamp duty.
Despite this, she believes that buyers will continue to have confidence.
She said: “This last month we have been very busy, and very grateful to the solicitors for their hard work, helping to achieve as many completions as possible before the end of March.”
Ms Oakey also highlighted the strong performance of first-time and cash buyers, as well as the influx of ex-rental properties hitting the market.
She said: “Overall, first-time and cash buyers are buying very well.
“We are seeing a lot of ex-rentals properties come to the market as landlords respond to the effects of the changes to tenant’s rights legislation.”
The property valuer also noted the popularity of ‘lifestyle properties’ with a couple of acres, which are selling well.
She expects the demand from first-time buyers and cash investors to push the market up, benefiting the family and mid to high-end market homes.
She said: “The spring and summer seasons show the Lake District and surrounding areas off perfectly to many holidaymakers who may be tempted to move to the area, increasing the number of eyes on properties which should increase the number of viewings and offers.”
“As always, I am optimistic about the market here in the North West. We are an experienced and dedicated team who keep a very close eye on this area, and we take a proactive rather than reactive approach to an ever-changing market.”
