Sam Butler's Market Comment - Looking to 2024
2023 was a mixed bag when it came to property market trends. The fallout from the mini budget extended into the start of the year. However, as inflation began to steadily fall, mortgage products improved and the year ended in a positive fashion.
In the last quarter of 2023, there was a significant uplift in the volume of requests from clients wishing to launch their property to the market in the spring of 2024. This increased level of stock should improve transactions levels, together with a large number of buyers still in rental properties following the surge of sales during the pandemic.
We anticipate that sale prices will strengthen as the market reactivates. There will be a pause at some point in the year when the date of the General Election is announced. Traditionally, this pause does not affect the values, but until the outcome, the decision making of buyers weakens. Hopefully, inflation will continue to fall, and perhaps interest rates also, and this will help to alleviate some of the financial burden on buyers.
Properties needing renovation should become more desirable again, if the cost of building products reacts to the fall in inflation. The strongest performers will continue to be the immaculate, blight free properties as has been the case for much of 2023.’
Butler Sherborn currently has a good selection of houses for sale across the price ranges.
Coln St Dennis House, Coln St Dennis - Guide Price £3,500,000 A superb Grade II Listed village house, separate cottage, pool and established gardens
https://www.butlersherborn.co.uk/coln-st-dennis/nid3428
Pheasant Cottage, nr Burford – Guide Price £1,000,000 A detached four bedroom house, rural location, no chain, three miles from Burford
https://www.butlersherborn.co.uk/brize-norton/burford-road/nid3453
Thyme Cottage, Willersey - Guide Price £995,000 A pretty Grade II Listed Cotswold stone cottage with five bedrooms close to the village green.
https://www.butlersherborn.co.uk/willersey-near-broadway/main-street/nid3466
The Impact of the Autumn Budget on the British agricultural industry and farming community – Farmers Protest to Parliament on Tuesday 19th November
Rachel Reeves appears to have trodden with ten league boots across the rural community of the entire country with her announcements in last week’s budget.
The Impact of the Autumn Budget on the British agricultural industry and farming community – Farmers Protest to Parliament on Tuesday 19th NovemberAnticipated stability following the certainty of the Autumn Budget
In the event, after much anticipation and speculation The Chancellor has announced little which will directly affect the Cotswolds residential property market.
Anticipated stability following the certainty of the Autumn BudgetA cracking Christmas in the Cotswolds- Christmas Markets, Fairs and Carol Services 2024
The Cotswolds hums with activity in the run up to Christmas with Christmas Markets and Fairs popping up across in many of the villages and market squares. From locally made crafts and decorations to wonderful local produce, there is a truly brilliant selection of gifts and foods for all tastes and palates. The centres of the villages are subsumed by the wafting smells of mulled wine, roasted chestnuts and gingerbread spices.
A cracking Christmas in the Cotswolds- Christmas Markets, Fairs and Carol Services 2024SMOOTH MOVE – Simple steps taken in advance to prepare the way for a smooth move
Currently, in the UK, on average one in three house sales fall through. This is often due to surprises during a conveyance, and buyer fatigue at the length the process can take. There are simple steps Sellers and Buyers can take in advance to help ensure the process is as smooth as possible. The key approach is to reduce as many ‘sales irritants’ as you can and to be well prepared in advance. Unexpected matters will inevitably arise, but with plenty of preparation these will be easier to resolve.
SMOOTH MOVE – Simple steps taken in advance to prepare the way for a smooth move