Time to make your move

With Brexit on the hori­zon, Si­mon Mer­ton of Strutt & Parker looks at the con­tin­u­ing de­mand for Cotswold prop­erty and the de­sire to make that move sooner rather than later

Cotswold Life - - PROPERTY NEWS - Si­mon Mer­ton is Strutt & Parker’s head of of­fice in More­ton-in-marsh. Call him on 01608 653308

The cur­rent prop­erty market in the Cotswolds is strong across the board, with premium prices be­ing paid for ‘best in class’ prop­er­ties in all price ranges.

There is al­ways strength in the Cotswold brand help­ing to sup­port prop­erty val­ues. How­ever, in 2018, this has been sup­ported fur­ther by a lack of stock and an in­creas­ing de­mand from buy­ers ea­ger to re­lo­cate for jobs or school­ing. Ac­cess to good com­mu­ni­ca­tion also helps. Po­ten­tial buy­ers look­ing for sec­ond homes are ac­tive but cau­tious due to the SDLT 3% sur­charge. Many prop­er­ties have had mul­ti­ple in­ter­ested par­ties of­ten lead­ing to achiev­ing sale prices over guide. Edge of vil­lage prop­er­ties with large gar­dens re­main top of the list for re­quire­ments, al­though there is de­mand for prop­erty at all lev­els par­tic­u­larly if the quoted guide price is per­ceived to be re­al­is­tic.

The de­ci­sion by the Bank of Eng­land to in­crease in­ter­est rates from 0.5% to 0.75% came as no sur­prise. In the light of more pos­i­tive eco­nomic re­ports, with in­fla­tion seem­ingly un­der con­trol at 2.3%, an im­prov­ing eco­nomic out­look in the medium term and in­creas­ing lev­els of em­ploy­ment, it had been pre­dicted for some time. Rates re­main at record lows and are un­likely to have a neg­a­tive im­pact on house prices. How­ever, with Brexit in the back­ground, there is an added in­cen­tive to launch a sale now, in case of re­newed cau­tion by buy­ers re­lat­ing to our with­drawal from the EU on March 29 next year.

The key to achiev­ing a suc­cess­ful sale, as ever, is keen, ac­cu­rate pric­ing in or­der to gen­er­ate view­ings and in­ter­est from buy­ers. Set­ting the guide price at an over-am­bi­tious level, al­though tempt­ing, de­ters buy­ers from com­ing to view, pro­longs the sale process and al­most in­vari­ably re­sults in a lower sell­ing price.

We have re­cently launched four prop­er­ties in the market and have nu­mer­ous view­ings and in­ter­est in all of the houses demon­strat­ing that the market is still very ac­tive and there are buy­ers in the market place.

Si­mon Mer­ton of Strutt & Parker

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