As we move into April, the property market across Cumbria and North Lancashire continues to show encouraging signs of stability and progression. March has built on the momentum we saw earlier in the year, with increased levels of activity and a greater sense of intent from both buyers and sellers.

However, it has also highlighted that the market is now operating within a more complex and less predictable financial landscape.

Here’s what we’re seeing on the ground…

March Sales Market Review: Confidence Returns

New Instructions

In terms of new instructions coming to the market, March saw a healthy 10% uplift on the same month last year, compensating for February’s shortfall of 7% and bringing the year-to-date comparison into marginal growth.

As always, some areas have taken off faster than others, with Arnside and Grange-over-Sands leading the way — seeing circa 30% growth in the number of new listings compared to the first three months of last year.

With Arnside and Grange-over-Sands leading the way — seeing circa 30% growth in the number of new listings compared to the first three months of last year...

Early signs suggest that, despite global uncertainty, sellers remain keen to move and are continuing to feel confident about the market.

Easter traditionally marks the start of the spring market — a time when many sellers choose to bring their homes to market, and as a result, we expect to see a further uplift in activity over the coming months, as the weather improves and gardens come into bloom.

For anyone considering a move, it’s worth remembering that first impressions count more than ever at this time of year — and a small amount of time spent improving kerb appeal can make a significant difference to the level of viewings a property attracts.

Property Sales

Sales activity is also gathering pace as the year progresses.

A slower start in January saw agreed sales fall behind the previous year, but steady improvement through February, combined with a very encouraging 42% rise during March, means 2026 has now moved into overall growth.

Encouragingly, increased activity is being seen across most price bands. The £400,000 to £600,000 bracket in particular is performing strongly, with the number of agreed sales up by 27% year-on-year.

In summary, Cumbria and North Lancashire continue to be a popular choice for both local movers and those relocating into the area.

The spring and summer months will, as always, be key in determining how the market performs overall — but early indications suggest that the market is holding firm, with positive signs of increased activity.

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Mortgage Market: Stability Disrupted

In contrast, the mortgage market has become notably less predictable — and is likely to become one of the key factors shaping buyer behaviour.

At the start of the year, there was a broad expectation that rates would stabilise, with potential for gradual reductions through 2026. However, as March progressed, that outlook shifted. Ongoing global uncertainty, combined with renewed inflationary pressure, has led to a change in direction.

We are now seeing mortgage rates edge upwards again, with some lenders repricing or withdrawing products at short notice. Fixed rates, which had begun to ease earlier in the year, have, in most cases, moved back above the 4% mark, with some longer-term deals now exceeding 5%.

This has created a more fluid and reactive lending environment:For those requiring mortgages, this is welcome news, with:
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• Mortgage rates are moving more frequently
• Products being repriced or withdrawn quickly
• Shorter windows to secure deals
‍• Shorter windows to secure deals

It is however, important to be clear — lending is still very much taking place, as evidenced by the increased activity in sales during March, demonstrating that buyers have not disappeared from the market.

What has changed is the tone.

Buyers are more considered, more price-aware, and more focused on long-term affordability. Decisions are still being made — but with greater scrutiny and less urgency than we saw during the peak of the market

The Rental Market: Pressure Meets Reform

The lettings market across Cumbria and North Lancashire remains particularly buoyant, restricted only by the level of demand continuing to significantly outweigh available supply.

March followed a now familiar pattern:
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• High enquiry levels within days of listing
• Multiple applications on well-presented homes
• Ongoing shortage of quality rental stock, particularly at mid-market price point

Rental values have largely stabilised following the sharp increases of recent years, but remain at historically strong levels due to the ongoing imbalance between supply and demand.

What is now clearer, however, is the direction of travel for the sector.

Following the government’s latest release of details around the Renters’ Rights changes, the scale and certainty of change is now firmly established. The move to periodic tenancies, the removal of Section 21, and tighter controls around tenancy management are no longer proposals — they are coming, and this is already influencing landlord behaviour.

We are seeing a more cautious approach from some landlords, particularly where future compliance, flexibility, and long-term viability are being carefully considered. Alongside this, we are also seeing a clear shift in how landlords are choosing to manage their properties.

Increasingly, landlords are opting for fully managed and rent collection services, rather than a tenant find (let only) approach. This is being driven largely by the growing complexity of compliance and regulation, with many landlords now beginning to comprehend the significant financial and reputational damage, failure to comply with the new legislation can bring.

In Summary...

As ever, well-prepared properties — particularly those that are high-quality and energy-efficient — continue to perform strongly, attracting good levels of interest and quality tenants.

For tenants, the longer-term outlook points towards greater security. In the short term however, supply pressures remain, and competition for the best homes continues.

For landlords, the message is clear: preparation and understanding of the upcoming changes is key.

Those who adapt early will be best placed to navigate what is a significant shift in the private rented sector.

Looking Ahead: A More Measured Spring Market

Our forecast for the months ahead…
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• Continued buyer demand — but more selective and considered
• A steady increase in available stock
• Greater emphasis on accurate pricing
• Sensitivity to any further movement in mortgage rates
• Performance continuing to vary across different locations and price brackets

If mortgage rates remain unsettled, we may see some buyers pause or reassess. Equally, any return to stability could see momentum build again quickly as we move towards early summer, with the full extent of the pre-budget pent-up demand from last year yet to fully feed through to the market.

Sellers, this is a market that rewards preparation, presentation, and realistic pricing — particularly when launching ahead of peak competition.

Buyers, increased choice is coming to the market, but people are no longer waiting for perfect conditions — they are making decisions within uncertainty.

Whether you are a Buyer, Seller, Landlord or Tenant, if we can be of assistance with the next part of your property journey, please do not hesitate to get it touch.

Kind regards,