This question was posed by one of my nephews, when they dropped over for a family quiz over the Christmas break (doesn’t that seem an age away now?).
I didn’t know the answer off the top of my head, yet I promised I would find out. So, over the Christmas holidays, I worked out the total value of all the properties in Lincoln and, just for a bit of fun, worked out how much they have gone up in value since my nephew was born in the summer of 2010.
In the last 14 years, the total value of Lincoln property has increased by 43%, or £2.518 billion, to £8,375,886,319 (or £8.375 billion), yes Billions. Let’s not forget that one million seconds is just 11 days, 13 hours, 46 minutes, and 40 seconds, but one billion seconds is about 31 years and 8 months. So this is a few years pocket money for my nephew.
Interestingly, the FTSE100 stock market has only risen by 38.5%. When I compared it to inflation (i.e. the UK Retail Price Index), this had risen by 51.1% during the same 14 years.
When I looked deeper into the numbers,
The average price currently being paid for a Lincoln home stands at £198,009.
(Lincoln being, for this exercise, all homes within a 3-mile radius of the city centre and the average price paid in the last three months).
But regular readers of my Lincoln property market blog articles know me. I wasn’t going to stop there, so I split the property market down into the individual property types in Lincoln. The average numbers come out like this.
The Lincoln property market reveals an intriguing dynamic when comparing the total value contributions of different property types.
- Detached houses have an average value of £292,000 and a total of £2.661 billion.
- Semi-detached houses, with an average value of £210,436, contribute £2.661 billion.
- Terraced and townhouses, averaging £169,389, collectively amount to £2.171 billion.
- Apartments, with an average value of £114,833, still contribute a substantial £882.1 million.
This remarkable growth in property values over the past decade and a half reflects the fundamental strength of Lincoln’s property market. But what does this mean for homeowners, homebuyers, and landlords as we move into 2025 and beyond?
The Lincoln property market remains underpinned by several key factors that ensure its resilience, even amid broader national and global economic uncertainties. Property ownership continues to be a stable and rewarding long-term investment for Lincoln homeowners, buyers and landlords. While market conditions may fluctuate in the short term, history has shown that property values in Lincoln tend to weather these ups and downs and emerge stronger over time.
A Growing Rental Market in Lincoln
For landlords, the rental market in Lincoln remains an area of significant opportunity. Demand for rental properties is robust, driven by population growth, changing lifestyle preferences, and continued interest in the area from those seeking a quieter pace of life (compared to major cities). This demand keeps rental yields steady, offering landlords a reliable income stream and the potential for capital growth.
As Lincoln continues to attract young professionals and families due to its excellent transport links, quality schools, and a sense of community, the appetite for quality rental homes remains strong. For landlords considering expanding their portfolios, now may be an excellent time to explore options in Lincoln’s semi-detached or terraced housing market (even apartments if the service charge is reasonable), which provides a good balance of affordability and rental potential.
Supply and Demand of New Homes in Lincoln
Another reason for optimism is Lincoln’s persistent undersupply of new housing. I know some of you will say some parts of Lincoln have looked like a building site for months, yet the fact is, we aren’t building enough new homes in the city. With demand consistently outstripping supply, property values are thus supported, reducing the likelihood of significant price drops.
Borrowing Costs to Buy Lincoln Homes
Although interest rates are higher compared to recent years’ historic lows, they remain very manageable by historical standards. For those looking to buy their home in Lincoln, this can still represent an opportunity to secure a mortgage and move up the property ladder.
Meanwhile, the Bank of England’s continued efforts to stabilise the wider British economy offers hope that rates may drift downwards, further boosting buyer confidence. Beyond the financial figures, Lincoln has a lot to offer. Continued investment in local infrastructure, schools, and public amenities enhances its appeal as a place to live, work, and invest.
As always, navigating the Lincoln property market can be complex. Whether you’re considering buying, selling, letting, or even investing in buy-to-let, making informed decisions is essential. If you’d like to discuss your property related goals or have questions about the Lincoln property market, I’d be happy to help. My door is always open for a no obligation chat.
So, should you like a chat about where you sit in the current market, do not hesitate to give me a call on zero one five two two, five one two, five one three or drop me a message on social media.
Remember, to ensure ALL our clients get the absolute best experience, and a total marketing strategy as unique as their homes, we only list twenty properties per month, our January and February market appraisal slots are now available to book, we ensure that you are always a name and not just a number, with Walters.
