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 Process Of Buying & Selling Your Home - A Solicitor's View
After making or accepting an offer, staying focused is crucial, as only two-thirds of sales reach completion. Familiar terms like "exchange," "completion," "protocol forms," and "enquiries" can be confusing, especially if it's been a while or if it's your first time. Here’s a concise breakdown to guide you through the process confidently.
The Process Of Buying & Selling Your Home
The Barnsley Village Festival
This year, we are delighted to sponsor the Barnsley Festival, which was established by one of Britain’s greatest gardeners, the late Rosemary Verey. The festival is cherished by thousands.
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‘Twelfth Night’ in Charlbury: Wednesday 11th June
The acclaimed theatre company, The Lord’s Chamberlain’s Men, is coming to Charlbury for an unforgettable night, presenting Shakespeare’s enchanting comedy, ‘Twelfth Night'.
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