Lancashire's great million-pound property sell-off
It will get you a one-bed flat in central London, or a veritable mansion in the Lancashire countryside.
But having a million pounds to spend on a home is not quite as rare as it used to be, according to the latest figures.
If you’re one of the lucky house hunters with a seven-figure budget, the choice is greater than it has ever been.
There are currently 117 houses for sale in the county which will set you back more than Â£1m.
They range from three in the Â£4m-plus category, to five for a basic Â£1m. And one of them, a Â£2m snip in much sought-after Lytham, is only semi-detached.
Not bad for a county where average house prices are just Â£168,000 and where there are currently almost a thousand for sale at less than Â£60,000.
One local estate agent says it’s not so much prices soaring as stiff competition prompting buyers to offer nearer to the asking price.
Charles Forshaw of Nationwide said: “The difference is that valuations aren’t necessarily going up, but people are achieving closer to the asking price and things are moving quicker. That has a positive impact on the sales figures.”
He said 18 months to two years ago potential buyers would seek to negotiate or offer 10 to 15 per cent off the asking price.
But now the market has changed.
He continued: “Now, because there is more competition in the market place, buyers are having to pay closer to the asking price which has an impact on the final figures achieved.”
The hottest properties in Lancashire this spring range from a castle-style mansion to a Tudor style manor house, a Grade II listed historic property to modern dream homes.
There is something, it would seem, to suit every taste, if not every pocket.
The property market in Lancashire is definitely on the up, according to industry experts.
The three with the biggest price tag right now are at Quernmore near Lancaster, and Stonyhurst and Simonstone in the Ribble Valley. They all have asking prices of more than Â£4m.
Meanwhile tomorrow the former health spa Brooklands near Garstang, now a private residence, goes to auction with Pugh in Manchester, with a guide price of at least Â£1.6m.
The country mansion on Calder House Lane in Barnacre boasts mature grounds, a helipad, seven bedrooms, a leisure suite with swimming pool, hydropool, sauna and steam room and an entertainment suite with cinema and games rooms and bar.
Access is along a private tree lined drive and facilities also include a library, a fishing lake and a stable block.
According to property portal Zoopla the average selling price for a house in Lancashire in the past year was a more modest Â£163,892, with house values rising by only 2.47 per cent. The current average value is Â£168,661.
At the bottom end of the market it is possible to purchase properties for Â£60,000 with 990 currently listed under that figure in Lancashire by Rightmove.
Prices vary considerably across the county which impacts on average house price figures.
Homes in the Fylde Coast, Ribble Valley and the villages of West Lancashire are some of the priciest, while at the other end of the scale offers above Â£60,000 are currently being sought for a two bedroomed flat on New Hall Lane, Preston and a one bedroomed flat at The Paddock, Fulwood,
Move further east in the county and in Accrington a two-bedroomed mid-terraced property will soon be offered for auction at Â£25,000.
Average price paid (Zoopla)
Preston Â£182,957Chorley Â£182,472Leyland Â£175,295Carnforth Â£236,495Clitheroe Â£244,627Lancaster Â£185,904Thornton CleveleysÂ£146,086Morecambe Â£140,526 Blackpool Â£123,541Fleetwood Â£121,595
Million Â£ properties
1. London, 430,7202. South East England, 180,3973. East of England, 69,8404. South West England, 33,7175. North West England, 12,5526. West Midlands, 12,2197. Scotland, 11,1018. East Midlands, 6,8459. North East England, 4,83510. Yorkshire and the Humber, 4,10311. Wales, 2,223