Jackson-Stops & Staff Director, William Leschallas, offers his thoughts on what Britain’s exit from Europe may mean to the housing market in the Cotswolds.   Whilst I'm aware that there is a great deal of opinion out there, I want to concentrate on what we know rather than what we can only speculate about. Here are just a few thoughts:  

• The Cotswolds and its surrounding areas remain beautiful places to live and take a holiday and that will not change.

 

• The Cotswolds will continue to attract buyers of all kinds including locals, downsizers, cash buyers, investors, second home owners and international buyers. Out of the several thousand buyers we have registered, we are yet to have one who has said no to their decision to move in light of last Thursday’s outcome.

 

• Interest rates are likely to remain low or even reduce further. HSBC launched its 1% mortgage last week for the first time

 

• Low interest rates should keep the whole market on the move.

 

• Viewings have continued and deals have been made since last Thursday.

 

• We are a populous country with an under-supply of housing and an appetite for property ownership.

 

• There is a plan in place between the Treasury and the Bank of England to deal with potentially choppy waters over the next few months.

 

• The FTSE 100 is currently trading higher than it did in February/March this year.

 

• The money markets continually fluctuate and we've already seen a rallying of the pound against the Dollar and the Euro.

 

• Houses have always been a good investment and will continue to be so. Jackson-Stops & Staff Director David Parris wrote an opinion piece before the Referendum about pricing; those properties that are overpriced or out of sync with the current market will, without doubt, struggle to find a buyer certainly over the next few months. We launched a house a week ago which was a good house in a popular village at a price which was sensible without being too low. The house attracted strong interest from its launch and a sale was agreed at the asking price within 5-days.

 

The Cotswolds will remain a sought after area for property...this will not change

Low interest rates should keep the whole market on the move I think that buyers do have faith in the residential market which, according to a survey last year, has outperformed other asset classes of commercial property, equities and gilts over various periods from 5 to 20 years. In other words, the residential market has weathered various storms over that period including a recession, five general elections and two wars where we have been actively involved and I fully expect, in a market of supply and demand, that we will see it do the same over the next few months and years. At Jackson-Stops we remain committed to helping you move and therefore, please do contact us if you have any questions or would like further advice.