Quietly confident in the Cotswolds

SAM Butler looks forward to the 2016 Cotswold property market

“There’s a lot of froth talked about property prices,” says Sam Butler of Butler Sherborn, “but here in the Cotswolds we just get on with things and are predicting a return to buoyancy in the market for 2016.

“The national forecast is for prices to rise by about five per cent* during the course of 2016. We think that’s probably about right for this part of the world, and welcome it; after all, general stability in property prices is beneficial to buyers and sellers alike.

“Over the next 12 months, we believe we are looking at a relatively stable situation in the UK, economically and politically - two aspects of life that influence consumer confidence. This will be an improvement on 2015 which was in some ways a difficult year for buyers and sellers, and for businesses generally. That resulted in a shortage of properties coming to market, while the number of buyers within the area and from London looking to move here or buy a second home was also reduced. We think that will start to improve as we move towards the spring.

“We are already seeing something of an uplift of interest partly from those wanting to buy a second home or buy-to-let property as a result of the three per cent levy on the Stamp Duty announced in the Autumn Statement and taking effect from April 1; however, we also feel that stability will quickly return. This sector of the market is generally regarded as a long term investment rather than an opportunity to make a ‘fast-buck’, and over a period of say, 10 - 15 years, three per cent is negligible and will probably be recovered through the rent anyway.

“Whether looking for a primary residence, second/holiday home or a buy-to-let property, the Cotswolds is a very good place to buy for numerous reasons, not least the quality of life, transport links, education and employment. But there’s also a lot less property hype than in other regions, especially London and the South East, with the opportunity to buy a property that’s right for you, rather than one that has to be bought quickly in case the price goes up!

“The key to success in the Cotswolds is that a quality property will always attract a buyer, and having confidence in what you are buying and selling is vital,” concludes Sam.

*Source: RICS