Lettting Market Update
The rental market for the North Cotswolds began in 2021 with the same vigour and positivity in which we slipped out of 2020.
With the continued desire for the city escape and the trend of working from home looking like it is here to stay for the foreseeable, we are continuing to see strong demand for houses with the desire for more living and accommodating work space as well as access to a garden or green space.
In the last quarter of 2020, rental demand was up by more than 60% on the year in the Cotswolds and West Oxfordshire. This in turn has led to a surge in rental prices with rents seeing on average a 13% increase.
Supply of property remains low and new listings can often be secured within hours, some not even making it as far as the open market.
Looking forward, there is a hope that life will get ‘back to normal’. However, the success of working from home means that working and commuting patterns may have changed for good. For locations such as The Cotswolds, with train lines in to London, this is undoubtedly positive and we expect to see continued growth and activity through 2021.
If you have a property to let or are considering letting your home please do not hesitate to contact our team on 01608 653606.