Penrith Proves Resilient
English Love Of The Market Town And Draw Of The Lakes Keeps Penrith Housing Market Robust
In spite of reported price falls in many parts of the UK, email4property.co.uk, the largest online network of local estate agents, has recorded a resilient housing market in Penrith this year, buoyed by its wide ranging appeal and continued lack of supply.
Penrith’s reputation as a lively shopping district, with its traditional shops, arcades and regular street and farmer’s markets, continues to make it a hub of activity and popular regional centre for the eastern Lake District. In a recent house price review, English market towns were highlighted as among the most robust locations in the country, with values far out-stripping the county average in most cases.
The area is also rich in history, and this, along with its close proximity to one of the country’s most popular holiday locations, has seen house prices in Penrith rise by 11.3% so far in 2008.
David Bexon, Managing Director, email4property.co.uk, comments:
“Penrith’s location ensures that it offers wide appeal to a broad demographic of home buyers. It provides the best of both worlds for residents – a lively market town, with good shopping, bars and restaurants, combined with picturesque scenery and outdoor pursuits on its doorstep, lying just outside the Lake District National Park.
Unsurprisingly, Penrith is a highly sought-after destination for home buyers, both local and those lured by its stunning surroundings. However, the area has not been overdeveloped and housing supply is very limited, with the total number of home sales hitting their highest in 2001, and slowing significantly this year. This has ensured a robust housing market, with the average property price increasing by over 150% since 2000, while remaining very competitive compared to many other parts of the UK.”
-- Ends --
copyright © Trinity Mirror Digital Property Ltd
|
Network
