April Sales Market Review

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As we move further into 2026, the local property market continues to demonstrate a level of resilience that many would not have predicted given the wider economic backdrop.

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.

Down 9% compared to the same period last year; however, this follows the 10% increase recorded in March and leaves the year-to-date figure broadly in line with 2025 levels overall.

There is little doubt that ongoing geopolitical uncertainty, concerns around inflation and the prospect of mortgage rate increases are causing some sellers to pause before making a move. However, despite these external pressures, the number of properties coming to market remains broadly consistent with last year, demonstrating the underlying strength and stability of the local market.

Encouragingly, buyer confidence continues to remain strong.Sales agreed during January and February tracked closely with last year’s figures, but a particularly active March and April have now pushed year-to-date agreed sales 14% ahead of the same year to date period in 2025.

More positively still, this increase has been seen relatively consistently across all areas rather than being isolated to one particular sector of the market.

Property Sales

Average house prices for both newly listed properties and agreed sales also remain very similar to last year’s levels, indicating that asking prices continue to hold steady despite wider economic uncertainty.

Demand has increased across almost all price ranges so far this year, with only the very top end of the market seeing a slight reduction in activity.

One trend we continue to observe locally is that buyers are adapting to market conditions rather than stepping away from the market altogether. Many purchasers are adjusting budgets, increasing deposits where possible or exploring different mortgage products in order to proceed with their plans.

Well-presented homes which are priced realistically continue to attract strong interest, particularly where sellers are committed and prepared for current market conditions from the outset.

Lifestyle-driven moves also remain an important factor locally, with buyers continuing to relocate into the region seeking a better work-life balance, outdoor lifestyle and long-term family living.

Even with wider economic headwinds continuing to dominate national headlines, the local sales market continues to perform strongly, reflected by the 14% increase in agreed sales during the first four months of the year compared to 2025.

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The Mortgage Market

Interest rates and mortgage pricing continue to dominate much of the national conversation surrounding the property market.

At the start of the year, many analysts had forecast reductions in the Bank of England base rate during 2026. However, rising inflation — driven in part by the ongoing energy crisis — has altered expectations significantly.

As a result, the Bank of England has held the base rate at 3.75% during each of its three reviews so far this year, including the most recent meeting on 30th April, where the Monetary Policy Committee voted 8–1 in favour of keeping rates unchanged.

Whilst some major lenders have introduced reduced mortgage products during May, there remains speculation that these rates may not remain available for long if inflationary pressures continue. This is a notable shift from earlier predictions which had anticipated two rate reductions during 2026 before the escalation of conflict in the Middle East.

Despite affordability remaining stretched for some buyers, mortgage lenders are continuing to compete strongly for business, with a wider range of products and increasingly flexible lending options gradually helping confidence return to the market.

First-time buyer activity has also improved slightly in recent months, assisted by greater wage growth and buyers becoming more accustomed to the current interest rate environment.

The Lettings Market

The lettings market has entered a significant new phase following the implementation of the Rental Rights Act on 1st May 2026 — widely regarded as the biggest change to the rental sector in a generation.

Landlords are now required to formally notify tenants of the new legislation and its implications using Government-approved documentation before the end of May. Failure to comply could result in fines of up to £7,000 per property.

Importantly, this is only the first stage of the legislation, with further key changes expected later in the year.

In the weeks since implementation, we have already begun to see noticeable changes across the local rental market.

One of the most immediate has been a significant increase in requests from tenants wanting to keep pets within rented properties. However, there remains considerable misunderstanding surrounding the legislation. Landlords are not automatically required to accept pets, but they are expected to reasonably consider requests and provide a legitimate reason where permission is declined.

We have also seen an increase in tenants requesting improvements to their homes, particularly relating to energy efficiency, insulation and heating performance as rising utility costs continue to influence tenant priorities.

Increasingly, tenants are paying closer attention to EPC ratings and the long-term affordability of running a property, rather than simply focusing on the monthly rent alone.

At the same time, many landlords are reviewing their longer-term plans and seeking professional advice regarding compliance, tenancy structures and future legislation. Whilst some national headlines continue to report a large-scale exit of landlords from the market, this is not currently being reflected locally.

Tenant demand remains exceptionally strong, with very few properties remaining vacant for long once brought to market.

What is becoming increasingly clear is that lettings are becoming substantially more compliance driven.

For many landlords, professional management is now as much about protection and reducing risk as it is convenience or time saving, and we are starting to see those who have traditionally looked after their properties themselves on a tenant find or let only basis, turning to managed services.

As always, if you would like advice on the current market, whether you are considering selling, letting, buying or investing, our team would be delighted to help.