“I wandered lonely as a cloud, that floats on high o’er vales and hills…” These immortal words by Lakes poet William Wordsworth truly capture the spirit of the Lake District and the wider county of Cumbria. With its towering mountains, tranquil lakes and abundant livestock, it’s no wonder so many people are keen to start their own Cumbria property search.
From the hubs of Windermere and Ambleside to the more remote mountains of the northern Lake District, there’s something there for everyone whether you want to raise a family, have a complete change of lifestyle or buy a bolt-hole to escape the stresses of city life.
What is the aim of your Cumbria property search?
Before beginning your Cumbria property search, you need to seriously think about your criteria. Deciding on whether you want a family home, investment opportunity or holiday home can hugely impact your property options. Crucially, prices range widely depending on location so spend time researching the price properties have recently sold for in your target area.
If you’re dead set on buying within the boundaries of the Lake District National Park, you can be certain of paying a premium. This has been estimated as high as 18 per cent. Ambleside, Bowness, Coniston and Grasmere are all highly sought after areas. Given that the Lake District has recently been awarded UNESCO World Heritage status, demand for holiday let properties for UK and international tourists is set to increase, potentially pushing up house prices. Currently, 15 to 20 per cent of Lake District properties are second homes or holiday lets and roughly 40,000 people live within the Lake District National Park.
However, if you’re searching for a property for letting purposes, these tourist hotspots are a good bet for investment and attract year round visitors. Alternatively, the quieter and less developed north lakes still attract walkers throughout the year but are generally a cheaper option.
Of course, if your property is additional to one you already own in the UK (eg. a second home or additional investment property) you will usually also be liable for additional 3% stamp duty on top of the normal rate, so this is definitely something that should be factored into your calculations.
Looking to the outskirts
Move further afield and your options to start to open up. In the larger towns of Kendal and Keswick there is a wide variety of family homes on offer, along with all the major facilities you could need. From outstanding schools to exquisite outdoor space and excellent transport links, Cumbria is the perfect place to raise a family.
Given the popularity of properties within this area, the best properties will often have been sold before they ever make it online, so it is certainly worth considering using a professional property finder with good local knowledge and networks.
One specific point to consider during a Cumbria property search is the level of flood risk. Although some recent events have made the headlines, major flooding events are rare occurrences in the vast majority of areas but it’s good to know where you stand. Again a good property finder will carry out all the necessary research before you commit to making an offer.
Buying Agent Partnership have a wealth of experience in, and strong knowledge of, the Cumbria property market. Contact us on 0330 223 6339 to discuss how we can help you.