Grace Oakey, branch manager and valuer at H&H Land & Estates in Penrith, said the Cumbrian market remains busy, especially for rural and lifestyle properties, even as price growth slows and buyers gain the upper hand.
Ms Oakey said: “With the end of the year rapidly approaching, we’re seeing house prices in the region continuing to rise as they have all year, but the pace has definitely started to steady.
“According to HM Land Registry and the UK House Price Index, the average UK property was up 5.4% early in 2025, but by June that upward climb had slowed to 3.7%.
“Finally, after the very busy, post-pandemic years, the market both nationally and here in Cumbria is calming down.
“It feels much more stable and a lot less reactive now.”
Ms Oakey said rural and lifestyle properties remain in high demand, particularly around Penrith.
There is also a noticeable increase in the number of homes coming onto the market, giving buyers more options and room to negotiate.
She said: “There appear to be more properties of all kinds coming onto the market recently.
“This gives buyers more choice and, because we’re in more of a buyers’ market at the moment, they’re using that advantage to negotiate and secure a good deal.
“Something else we’ve noticed is a shift in what buyers want.
“Homes with modern features and good EPC ratings are getting more attention.
“People are really thinking about running costs since the cost-of-living crisis, and with the significant rise in the cost of materials and labour, properties that need a lot of updating or trades work are taking longer to sell.”
Stabilised mortgage rates through 2025 have helped build confidence among first-time buyers and those returning to the market.
Ms Oakey said: “With more homes available, including new builds, pricing realistically has become even more important for our vendors.
“A well-priced property is definitely the one that attracts immediate interest.
“Properties doing particularly well at the moment are those with good EPCs, space for a home office, or those in quieter, rural spots with outside space or land.
“Lifestyle is still a huge factor for a lot of potential buyers.”
Looking ahead to 2026, Ms Oakey anticipates steady price rises rather than the larger jumps seen in recent years.
She said: “If mortgage rates hold or drop slightly, the market should continue at this more ‘normal’ pace.
“Rural and semi-rural areas, including Penrith and the surrounding villages, should continue to attract buyers.
“More than ever, buyers are focusing on quality, long-term value and manageable energy costs, and presentation and sensible valuations will make a big difference when selling in a competitive market.”
She also noted a growing interest in land and development opportunities.
Ms Oakey said: “That’s a real strength for us at H&H Land & Estates, especially with our inhouse planning specialist, Angus Hutchinson, allowing us to offer proper guidance and help clients spot the potential in plots and development sites.”
The H&H Land & Estates team across Cumbria is committed to helping buyers and sellers achieve the best outcomes in what remains a competitive and evolving property landscape.
Ms Oakey said: “Our team across Cumbria is working hard to help buyers and sellers achieve the best results in this property-rich region, and we offer all our clients our best wishes for a happy Christmas and every success in the New Year.”
Anyone wishing to discuss their property needs can contact Grace Oakey on 01768 840619 or by emailing grace.oakey@hhlandestates.co.uk.