Tom Hayman-Joyce's latest market update
The property market in the Cotswolds has significantly improved this year. Confidence is a key driver and with our majority government and decisions about our country’s future being taken, confidence is back.
The London property market has picked up. William Carrington of Lonres reports of the busiest market for three years, with a 34% annual increase in sales and a 2.4% quarterly price rise after five consecutive quarterly of falls. With the majority of national press based in London this will drive positive news to further bolster confidence. It is likely this will lead to renewed interest in the Cotswold market from London buyers, keen to get ahead of the market here in the Cotswolds.
We at Hayman-Joyce have seen a 20% annual increase in buyers this year and we have agreed as many sales in the first two months of this year as we did in the first three months of last year, so a positive start to 2020.
The supply and demand balance between number of sellers and buyers will be fascinating to watch over the year. We have seen a 23% annual increase in the number of properties coming to the market with Hayman-Joyce over January and February - a touch over the percentage increase in buyers which indicates prices will remain relatively stable for the moment.
Whilst writing we eagerly await the budget. Changes to stamp duty or other housing measures are likely to have an impact upon the market. This aside we have a positive outlook for the year and have already increased our team to ensure we continue to deliver exceptional service to our clients.
If you would like any Cotswold property advice, I would be delighted to speak with you on 01608 651188 or firstname.lastname@example.org.