Sam Butler’s Market Comment on the Cotswold Residential property market – June 2023
The residential property market in the Cotswolds is now quite different to that which it was a year ago. The catalyst for the change was the September mini-budget and the subsequent knock-on effect from it.
We experienced a quiet five months immediately afterwards, added to which Spring was slow in arriving. In my opinion, it is fair to say there was then a flurry of activity in May, but since then the market has flattened. I blame the uncertainty created by interest rate increases and more anticipated in the coming months.
Most buyers and sellers, together with professionals involved in the property market, are already fully aware of current market conditions, and the need to be price sensitive with realistic expectations, if properties are to sell this year.
Fundamentally, there are good buyers out there, but I think they are going to take their time, and are going to be careful about what they pay. This will remain the case whilst interest rates continue to rise and until they and inflation start to come down. However, I predict there will come a point when buyers will appreciate the need to buy, and will want to do so without finding themselves in competition with others.
Butler Sherborn has some very good houses for sale, and that does not change. We live in the Cotswolds, for which there is consistent and sustained demand and where buyers appreciate there is very rarely enough stock.
If you would like any advice on the value of your property or any other related matter, do not hesitate to contact me.
Sam Butler 01285 883740 sam@butlersherborn.co.uk
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