One of the latest reports from Rightmove suggests that the rise in property prices this month is the lowest in seven years, however they also report that traffic to their site is up 5 per cent when compared with the same time last year. This suggests that there is a backlog of pent up demand. It was confirmed this week that American Hedge fund owner Ken Griffin paid £95 million for 3 Carlton Gardens over looking St James’s Park – significantly reduced from the original price of £145 million. Whist this is an extreme example there are bargains to be had in some areas of the market. What is clear however is that there are still some locations where prices are going up.
The Cotswolds and Cheltenham specifically is one such hotspot.
Harry Gladwin Partner at The Buying Solution says; “Property prices in ‘hot’ areas of the Cotswolds continue to rise with Cheltenham experiencing nearly a 6 per cent increase over the past year. Over the past two years we’ve seen a 40 per cent increase in those looking to purchase in Cheltenham. Time poor parents who may have otherwise chosen a more rural location increasingly prefer to be within walking distance of their chosen school (private or state). The recent regeneration in the town is helping to put Cheltenham on a par with larger UK Cities whilst helping to carve out its own identity. Investment from well-known names such as Julian Dunkerton and with the opening of The Ivy and a new John Lewis, Cheltenham is moving further into the spotlight. Faster trains to London have been promised and with the Cotswolds on the doorstep, the town also represents excellent value when compared with other local centres closer to the Capital.”
To read the full article please click here; https://www.thetimes.co.uk/article/what-downturn-locations-where-house-prices-are-rising-in-the-uk-h3ksz3c5z