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Lancashire housing market ‘strong’

A Lancashire solicitor is reporting that the housing market is particularly strong, as figures show house prices are increasing in the region.

Research from property website Rightmove show that prices have hit an April ‘record’ nationally, with the average asking price for a UK property increasing by more than 2 per cent to £244,706.

These changes are reflected in the North West, with prices up one per cent month on month, and annually two per cent. The average house price in the region is now £165,581.

Sarah Barnes, head of Residential Property at Napthens solicitors, reports that in Lancashire the housing market is strong, with the level of new instructions received by the law firm remaining healthy.

Sarah also points to information from RICS, the Royal Institution of Chartered Surveyors, which shows that the North West had the highest levels of new buyer enquiries during the month of March.

She said: “Our experience of the market at Napthens has shown that it remains strong, with plenty of interest from buyers. Both our estate agent and developer contacts are also reporting growth.

“The levels of new instructions received by the Residential Property team have been high – a very good indicator of the state of the market. Pleasingly, we are also seeing these convert into real instructions where buyers are definitely proceeding with transactions.

“It is not just buyer enquiries which are up – vendor instructions, from those selling properties – are also up which indicates that the market is doing well and we are likely to see this continue.