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The General Election- Thursday 4th July 2024 – Sam Butler comments on the Cotswolds residential property market reaction
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No one likes uncertainty and this applies to the residential property market, which reacts adversely to negativity, whether this be economic or global conflict. Confidence diminishes.
Already sellers, but particularly buyers of property were becoming less active and more indecisive with a General Election happening this year, but no one knowing exactly when, until now. The announcement of the Election on 4th July provides a definitive answer as to the timing and this is helpful. We now know what is happening.
We predict that there will be the usual “ let’s wait and see what happens” before committing to a sale or purchase. This is natural, but our experience is that the outcome of an Election, particularly in this current political climate, is unlikely to change things one way or another, generally. There will be a lull during campaigning, but shortly after the result life will return to normal. Economically, things will continue to look brighter with inflation continuing to fall along with a cut in interest rates. At that point, there will be a positive uplift in sentiment and across the Cotswolds property market.
Our advice therefore to sellers is to continue with their plans, be realistic in pricing and to accept the right offer today. To buyers, we advise that if they find the property that suits their needs, they should get on and buy. From our experience, there is almost never enough supply in the area, and with the pressure from demand, prices will remain firm fundamentally. It may be a little quieter today, but that can change very quickly with more than one buyer competing for a particular property in and around the popular Cotswolds.
Sam Butler
For any property advice, or to discuss the market, do please contact me, Sam Butler on 01285 883740 or sam@butlersherborn.co.uk
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Reflections on the Rural Land Market 2024 together with this Summer’s harvest
The Land Market - The volume of farmland for sale in the first half of 2024 was about 30% higher than the same period in 2023. According to industry indexes the average value of arable land is now just under £10,000/ac and just under £8,000/ac for pasture. However the actual prices achieved vary...
Reflections on the Rural Land Market 2024 together with this Summer’s harvest![Sketch](/_vercel/image?url=https:%2F%2Fcdn.sanity.io%2Fimages%2Fjs7r23bq%2Fproduction%2F8f0f83bd258c0a7ff778828b1c689153a5ebcfed-8192x5464.jpg?rect=0,428,8192,4608%26w=608%26h=342%26fit=crop%26auto=format&w=640&q=85)
Stability in the Cotswolds Residential Market ahead of the Autumn Statement
Predicting the strength or otherwise of the residential market is always difficult, and with the variables which affect it finely balanced, the task is challenging.
Stability in the Cotswolds Residential Market ahead of the Autumn Statement![Good Gathers](/_vercel/image?url=https:%2F%2Fcdn.sanity.io%2Fimages%2Fjs7r23bq%2Fproduction%2F0fe153ef0cfe6dec702a1c21f74c182869b46307-8192x5464.jpg?rect=0,428,8192,4608%26w=608%26h=342%26fit=crop%26auto=format&w=640&q=85)
Good Gathers Pop Up Restaurant, The Cornwell Estate, Chipping Norton OX7 5YG
The brilliant and gifted gang of Ross and Ross Events have launched their farm to food experience on The Cornwell Estate. Ross Events are established bespoke caterers, and have been operating in the Cotswolds for over a decade.
Good Gathers Pop Up Restaurant, The Cornwell Estate, Chipping Norton OX7 5YG![Vineyard](/_vercel/image?url=https:%2F%2Fcdn.sanity.io%2Fimages%2Fjs7r23bq%2Fproduction%2F5df6bf85d1d6583f36e3c1e8d35f86502ce23100-929x620.webp?rect=0,49,929,523%26w=608%26h=342%26fit=crop%26auto=format&w=640&q=85)
Dryhill Wines , Cheltenham – Award- winning Fine English Bubbly
Dryhill vineyard is situated on free draining limestone terraces cut by the Romans. It nestles in a fold on the side of the Cotswold escarpment at around 130m above sea level. Dryhill Wines has recently been awarded a Silver medal at an international blind tasting, ranking their English bubbly higher than over 100 Champagne Houses, including Veuve Cliquot!
Dryhill Wines , Cheltenham – Award- winning Fine English Bubbly