Moving into a new season
Jamie Dalrymple Hamilton says there’s no reason why you should hold off finding and buying your perfect home this autumn
Autumn is traditionally known as the season of mists and mellow fruitfulness, and certainly property pundits are struggling to see which way the market is moving with any degree of certainty.
Nationally, there is a consensus that low supply is being matched by low demand and much of the reason for this has been blamed on the rapid escalation in Stamp Duty charges. It will be interesting to see if any pointers emerge at the forthcoming Tory Party Conference, but I would not be optimistic as Stamp Duty is an extremely cost effective tax for the Government. So what else should we be looking out for this autumn and beyond?
Optimism about our economic prospects is something that clearly influences the property market. Brexit and the potential consequences thereof, have not been as big a factor as some predicted and provided inflation does not suddenly spike upwards, low interest rates look to continue to be the norm. So in short there in no compelling reason for things changing in the immediate future. That said certain clear trends are apparent.
Increasingly, purchasers are favouring well presented properties over those ‘with potential’. New building techniques and materials have given owners the opportunity to be creative. Redesigning homes to incorporate larger kitchen/family rooms and luxurious bathrooms, for example. Such properties large and small, modern or traditional are attracting the most demand. Clearly the Cotswolds is also favoured over other regions as we not only have the advantage of outstanding scenery but good communications by road or rail, popular towns like Cirencester, Cheltenham and Bath and excellent school both in the state and private sectors.
To conclude, for prospective vendors there is no obvious reason to defer a move this autumn, while for purchasers, although finding the ‘right’ property will almost inevitably involve an element of compromise, once you have done so, it is likely to be a very good investment.
For prospective vendors in the Cotswolds there is no obvious reason to defer a move this autumn