A leading Cumbrian estate agent said Carlisle’s property market is booming.
Latest figures from H&H Land & Estates reveal that its city office achieved 99.8 per cent of asking price on all properties sold in August, and a price increase of around 10 per cent since the beginning of the year.
Paul Doyle, branch manager, said: “We have been exceptionally busy and the speed in which properties are being sold along with the prices being achieved demonstrates the importance of the correct valuation, so understandably we are proud of these huge achievements.
“Last week we put a bungalow based in the city centre on the market, and we had three viewings booked within an hour of sending it out to 98 matched applicants on our mailing list.
“We now have offers on the property and we expect it will be sold by the end of the week.
“Carlisle is very much becoming a sought-after place to live and achieving this level of results demonstrates that property in and around the city is in hot demand.
“Currently demand is higher than we have experienced in a long time, but the number of properties coming to the market is low.
“This demand has resulted in the fact that, at the moment, we are dealing with a real supply issue.
“People are starting to realise that property in Carlisle offers tremendous value for money compared to so many other parts of the UK.
“So, taking into account the shortage of supply and exceptional current demand, as we head into the final third of the year, we are anticipating that prices will remain stable and perhaps even see some growth.”