House prices in the Lake District are holding value despite talks of a national downturn, according to a local property expert.

Gemma Dawe, who runs Lake District Relocation Ltd, a property finding service company, and who is the regional executive for estate agents membership organisation Propertymark, said there is no downturn, just negative media representation.

“Although it is true that we have come off the top of the curve and have started to see prices drop slightly in our area, overall house prices remain fairly high,” she said.

According to Gemma, high-value properties in the Lakes are holding their value of £1million to £2million.

UK house prices have fallen on a monthly basis for six months in a row, according to Nationwide, but Gemma said: “The data reported in the media generally has a time lag, and reports on the ground from estate agents all over the country are very positive regarding prices achieved and the speed at which houses sold across the UK in February and March.”

A drop of anything from eight to 12 per cent had been predicted and the move to countryside living, which was sparked by the pandemic, is said by some commentators to have ended, but Gemma said these predictions don’t take into account “highly unique properties in highly desirable locations.”

Gemma added: “Whilst many commentators report that the rush to buy in the countryside is over, I have to say that at the moment there is still a steady flow of buyers looking to relocate to this beautiful part of the world,

“This creates demand within the area.

“When it comes to homes valued at more than £1million and towards £2million, demand is high again.

“This is causing a slight lack of supply, meaning that many of these homes, when they do come to the market, are selling relatively quickly as long as they are priced correctly.

“Demand to live here creates this buffer compared to other places in the UK which could be hit hard by a difficult property market,.

“I am not saying that we will not see a further downturn of the prices in our area, as I believe we will, in time, but at the moment, this is very much not the case.”

Property values will be more protected in desirable villages like Sedbergh, compared with Kendal for example, she said.

“Many lake frontage homes are highly sought-after and the days when you could buy something for under £2m are gone.

“These homes are now like hens’ teeth and premiums will be paid for them - if you know when and where to find them, and I do.” Gemma concluded.