We are very lucky to work and live in the Cotswolds. The countryside looks fabulous, particularly this Spring in the sunshine, and it is accessible to those who have to commute. There is so much on offer from places to eat, things to do, cultural and sporting, and a wide variety of excellent schools. What an area to bring up children!
The Cotswold country property market has not been immune from the uncertainties created by Brexit, the economy, global politics and the punitive increase in stamp duty at the higher end. As a result, the reality is that we are in a buyers market. Buyers know exactly what they want and what they will pay. It is very expensive to move and this is exaggerated by house prices not rising at the moment. This has had a downward effect on prices and supply.
Sellers want and need some certainly if they are going to move. Currently the market is short of stock but as time goes on buyers and seller’s expectations should increasingly equalise. Once that happens, and I think we have turned the corner, the resulting stability will create a better property market for all in terms of price expectation and how long it takes to sell.
As an estate agent it is always tempting to tell everyone that the world is rosy, that everything will sell quickly and at more than it is truly worth. Today we all need to be realistic. Sales, and lettings, will follow creating confidence and turnover. There remains very strong demand to live in the Cotswolds but buyers need a little encouragement. They do not need a lot of persuading as the area sells itself, but sensible and properly considered pricing is a must, whilst of course maintaining the goal of achieving the best price possible for your property.
No one benefits from huge hikes, and falls, in property prices. What we need is a climate where prices do increase steadily year on year to support the huge investment in a home and the cost of buying it.
The problem in the Cotswolds is that people do want to live here and so with this comes strong demand ! Then, the pendulum can swing in favour of the seller!
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