October 2023 Monthly Market Report for North Cotswolds

As autumn leaves begin to fall, the North Cotswolds property market continues to evolve. In this report, we will provide you with a comprehensive overview of the state of the local property market for the month of October. 

 

We will delve into key trends and market dynamics. Whether you’re a homeowner, investor, or industry professional, this report is designed to provide you with valuable insights and data-driven analysis, helping you navigate the property market landscape with confidence.

 

Let’s take a brief look at what’s been happening over the last month in the local property market around the North Cotswolds.

There are currently 1136 properties available on the market in our area. In October ‘22 there were only 897 properties available in our area. This means there is a 26.6% increase in the number of properties available compared to this time last year. This is great news for buyers, as it gives them more choice.

Back to 2023, in September, there were 1119 properties available on the market in our area; in August, there were 1122 properties available in our area; in July, there were 1085; in June, there were 1112; and in May, there were 1048 properties available.

There are a steady number of properties coming onto the market each month. In October, 213 properties came onto the market; in September, 235; in August, 264; in July, 212; in June, 280 properties came onto the market; and in May, 245. This steady flow of properties onto the market means buyers are better able to find properties that match their preferences, budget, and specific requirements.

In October, the number of sales agreed was 140. In September, there were 151 sales agreed; in August, 144; in July, 156; in June, 184; and in May, the number of sales agreed was 191. The local market is as busy as ever, and we expect it to get even busier as we head towards 2024. 


The doom-mongers in the national media have been proven wrong, and many buyers are no longer fearful of a major collapse in house prices. Instead, home buying decisions hinge on the financial ability and willingness of people to take on 4-5% mortgage rates. Real income growth is at last starting to appear, and this will support people’s desire to move home.

In May, we saw 121 price reductions across the North Cotswolds property market. In June, there were 162; in July, there were 151; in August, there were 166; in September, there were 183; and in October, there were 160. Many sellers are motivated to reduce the price of their properties at this time of year in order to attract buyers before Christmas.

It is worth remembering that when properties are priced properly, they sell quickly. Setting an unrealistically high asking price at the outset can delay your move by several months.           

In October, there were 570 slow movers in the North Cotswolds area. This is a property that has been on the market for 12 weeks or more. In September, there were 546; in August, there were 570; in July, there were 494; in June, there were 465; and in May, there were 423 slow movers.

Slow movers can often be due to the 3 Ps: presentation, promotion, or price. We are proud to be in the top 10 agents in the area with the smallest number of slow movers. Choosing the right agent for your property can make a very real difference in achieving your moving plans.

In May, each property in the North Cotswolds area had an average of 80.9 daily views on Rightmove. In June, there were 69.7; in July, there were 65.2; in August, 67.9; and in September, 65.5. In October, the number of daily views on Rightmove for properties in our area was 61.7. There is a consistently high level of activity in the local property market, and we expect it to get even busier as we head towards 2024. If you are considering selling your property in the North Cotswolds, now is an excellent time. 

If you’re looking for further information about the North Cotswolds property market, or if you’re thinking of selling or buying in the area, please don’t hesitate to get in touch. You can call 01608 695252 or email hello@distinctpropertyconsultants.co.uk

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