A leading estate agent says the Eden Valley is still benefiting from the pandemic effect as more people look to change their lifestyle.
Kate Patrick, head of estate agency at H&H Land & Estates, said the area’s property market was buoyant – with buyer demand up 26 per cent from 2019 levels.
She said: “We are continuing to experience extremely high levels of demand for property, and currently there are no signs of this abating and prices year on year have risen in the region of 10 to 15 per cent.
“The demand we are experiencing is from both locals and from people outside of the area. Most of the properties we are currently seeing coming to the market I would describe as lifestyle properties, and since the outbreak of COVID, these are more highly sought after.
“Many people’s priorities changed during the pandemic, and they are wanting to change their lifestyles, either by moving to the countryside for a slower pace or making family a priority and choosing to move in with or to be near them.
“There are many reasons that people decide to sell their properties. The main reasons we are hearing from our clients are that they are wishing to downsize, want to relocate to, or away from, a town depending on their needs and lifestyle, or they want to move closer to family. We are also seeing more elderly people looking to move to houses and areas with increased accessibility for them as they become either unable to drive or need to be closer to amenities.
“Now that we are in the tourist season, we have been seeing many potential purchasers from outside the area looking at houses and small holdings. This can be those who are already on holiday, and have really enjoyed the area, or have seen a property that they view as their ‘dream home’, causing them to consider relocating, or some people specifically come up to the area on holiday to look at the property market.
“Currently the market in the Penrith area is experiencing some considerable buoyancy as many, particularly older homeowners, are looking to downsize or move before winter comes.”
But the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 13.7 per cent over the last year.
