Market comment from Sam Butler, Senior Partner Butler Sherborn
Thanks to an unprepared mini budget, and one that was not supported by the Office for Budget Responsibility (OBR), shock waves have reverberated through the property market.
Interest rates have risen sharply, quickly catching out buyers and sellers. Unsurprisingly, confidence has been knocked.
Our feeling is that interest rates were on the rise and would have reached the 6% levels in the spring in any event, but the mismanagement of the economy by the Government has been the catalyst.
We have seen prices make a 5% downward adjustment over the last two weeks, but with buyers remaining committed to buying a house in the Cotswolds.
Fundamentally, we believe the market remains strong; for the last two years there has been an imbalance between a shortage of stock and an abundance of buyers.
There are no significant signs of this changing, but we all dislike uncertainty. On the flip side, The Cotswolds remains a hugely attractive area in which to live and to buy your forever home".
To discuss this or any other property matters, Contact Sam Butler on 01285 883740 or sam@butlersherborn.co.uk
Butler Sherborn is delighted to sponsor the Members Marquee, Moreton Show - Saturday 6th September
Moreton Show is one of the UK’s largest and most prestigious one-day agricultural shows. It’s a celebration of British farming, rural traditions, and community spirit.
Butler Sherborn is delighted to sponsor the Members Marquee, Moreton Show - Saturday 6th September
Drought Tolerant Plants By Oxford Garden Designs
After the long, hot, dry spring and summer the impact of climate change in most of our gardens is obvious. Establishing that pristine, green stripy lawn has been a challenge this summer, and, given the shortage of water in our reservoirs, not sustainable. Many of our favourite garden plants have fried, shrivelled, or even died so it seems inevitable to me that us green-fingered folk will have to make some changes in our approach to maintaining gardens.
Drought Tolerant Plants By Oxford Garden Designs
Mortgage Rates - Recent Developments
Charlie Huxley, the founder of Huxmor Limited, discusses the recent developments in mortgage rates. While the changes may not be dramatic, they create a vital opportunity for homebuyers and landlords to take decisive action and leverage on strategic advantages.
Market Update
Pub Of The Month - The Woolpack, Slad
Nestled in the Slad Valley, The Woolpack has been celebrated for its unique charm for more than 300 years.
Pub Of The Month
