Homes with a wealth of character

As ever, location is key with house prices strongly influenced, agents say, by proximity to the main ribbon of lakes linked by the A591. These are Windermere, Grasmere and Derwent Water and could be said to form the "spine" of the National Park. They are also the prime area of Cumbria, where lakeside villas command a premium.

In other parts of Cumbria, prices are extremely realistic with hundreds of properties on the market well below the county's quoted average of about Ј160,000. Almost a quarter of all properties on Rightmove are less than Ј100,000 and half less than Ј134,000. They range from one-bedroom apartments to four-bedroom terraced houses.

"What determines price is accessibility and amenity," says Stephen Holland, of Carter Jonas agency. "The top areas are those which have access to the M6 and mainline stations as well as the beautiful landscape of the lakes and fells; places such as Ambleside, Grasmere and Keswick. These areas are being driven by the second home market and the potential to generate good rental value from tourism."

Prices are lower to the east of the M6 and lower still towards the industrial west coast and Sellafield nuclear power station. In towns such as Barrow-in-Furness, where there is high unemployment despite the dockyard, prices bottom out with two-bedroom terraces selling from Ј20,000. 

Some agents are counting on Help To Buy 2, the Government lending scheme, to attract first-time buyers in such areas, which will in turn let others move up the property ladder. There is little risk of the market going into frenzy, they say.

"The risks of a Help to Buy-fuelled housing bubble are less in Cumbria than in the rapidly overheating South-east," says Alexander Gosling, director of low cost online estate agent House Simple.

Help to Buy 2, now brought forward three months, has an upper limit of Ј600,000 because the average London property costs Ј500,000. This means that most properties in Cumbria will qualify for the assistance, which does not apply to second homes.

Second homes still constitute a major part of the Cumbrian market and prime waterside villas, likely to be bought by "foreigners" are highly prized. An example is Bruton Lodge at Bowness-on-Windermere, a traditional villa built by well-regarded architect GH Patterson in 1900.

The five-bedroom detached property comes with boathouse, jetty and lawns extending down to the lake edge and is on the market at Ј3,250,000 with agent Carter Jonas (carterjonas.co.uk/01539 722 592).

Little wonder a Victorian manor on the shores of Windermere, now divided into apartments, has almost sold out, with the converted two-bedroom boathouse alone selling for Ј1,975,000. 

Pullwood Bay, (pullwoodbay.com/01539 433 333) a former boys' school, offers much the same as Bruton Lodge with lawns running down to the lake and a jetty, but for a fraction of the price. Two large flats remain, both priced at Ј520,000. Great Gable, a two-bedroom duplex with large bay windows, and Wansfell, a three-bedroom ground-floor apartment, both offer wonderful views over Windermere in the 51-acre estate.

Near the "prime" town of Kendal is High House, a 17th-century farmhouse in unspoilt Longsleddale Valley complete with a detached guest annexe. The property has open fires, exposed beams and five bedrooms in the main house. The asking price is Ј675,000 and it is on the market with Jackson Stops & Staff. (Jackson-stops.co.uk/0161 928 8881). Well-priced and attractive properties in non-prime parts of Cumbria that would qualify for Help To Buy assistance include Hazeldene, a cottage on the fringe of the historic hamlet of Drumburgh.

It has wonderful views to Skiddaw and the Northern Lake hills, and is a character property priced at Ј210,000 with H&H King (hhking.co.uk/01228 810 799). It comes with good sized gardens and parking and has its own driveway.

Lavender cottage at Orton, a fully modernised, two-bedroom end terrace, is on the market at Ј225,000 with Carter Jonas.

Holme Lyon Barn at Burneside, near Kendal, is a south-facing house in a peaceful riverside location for sale at Ј365,000. The three-bedroom house is near a good primary school and has a choice of secondary schools and colleges. It is also on the doorstep of the Dales Way, and is on the market with House Simple (HouseSimple.co.uk/0845 603 9909).

In non-prime but accessible Carlisle, there are some great value properties on the market. Woodlands, in the popular village of Hayton on the outskirts of the city, has lawned gardens and a double garage and is on the market for Ј510,000 with H & H King of Carlisle (hhking.co.uk or call 01228 810 799). 

The top areas are those which have access to the M6 and mainline stations as well as the beautiful landscape of the lakes and fells; places such as Ambleside, Grasmere and Keswick
Stephen Holland, of Carter Jonas agency
Idyllic Townend, a Grade II, five-bedroom farmhouse in Carnforth, enjoys far-reaching views to Lakeland and comes into the Help To Buy 2 net at Ј550,000 with Fine & Country Lakes. (fineandcountry.com/01539 733 500). Located at the foot of Farleton Knott, it has a semidetached barn. Eskdale, a six-bedroom home built in 1880 in the village of Holmrook, is priced at Ј625,000 and is therefore outside the Help to Buy 2 limit unless sellers accept an offer.

It has been completely refurbished while retaining original features and comes with a detached coach house, views over the Eskdale valley and half an acre of gardens, with plenty of parking and a large detached garage.

Those just seeking a holiday home in the Lake District could take a lead from Dragon's Den star Duncan Bannatyne who has bought a lodge house at the Fallbarrow holiday park, in Bowness-on-Windermere.

A spacious two-bedroom holiday lodge here, with views over the lake from the living room and decking area, is on the market at Ј299,995 including first-year site fees and a 40-year licence (fallbarrow.co.uk/015395 897 859).

Fallbarrow Park's facilities include a bar and restaurant, and owners may also use the gym, indoor heated swimming pool and sauna at its nearby sister park, White Cross Bay, a mile away.

express.