Cotswolds Rental Trends 2024
The Cotswolds, renowned for its idyllic charm, remains a coveted destination for those yearning for the quintessential English lifestyle. Understanding the current Cotswolds rentals landscape enables us to look ahead to 2024 where we anticipate the housing market in this picturesque region will remain strong. In this article Fergus Mitchell, owner and director at The Cotswold Letting Agency considers the factors that may help the rentals market hold steady in 2024.
Less Investment Properties, Higher Demand
Investment property numbers are dwindling as some landlords opt to sell, intensifying demand. Homes are now leased within an average of 24 days and for each property there are around 25 renters waiting to view.
Traditional vs. Modern Living
The Cotswold property market truly does offer something for everyone. Whilst quintessential Cotswolds cottages with cosy features, wood-burning stoves, and exposed beams remain popular, there is also a rising interest in modern living with a traditional twist. This is often achieved in a striking barn conversion, many of which offer a blend of tradition and contemporary design.
Luxury Living on Demand
Luxury amenities, from high-spec kitchens to opulent bathroom fittings, are crucial for commanding premium rental prices. This trend highlights tenants’ increasing desire for a premium living experience and the expectation that renting does not equal compromising.
Supply and Demand Driving Prices
Reflecting national trends, private rental prices in the Cotswolds have seen a significant increase, up by 6.1% in the 12 months to October 2023. This surge is driven by the interplay of supply and demand dynamics, ensuring rental prices remain robust. Landlords, presenting properties to the highest standards, find themselves in a favourable position with the potential for higher returns on their rental investments.
Short Lets: A Growing Preference
The demand for furnished short-let properties continues to gain momentum. Flexible rental terms cater to the evolving needs of tenants, including local homeowners undergoing renovations or newcomers testing the waters before committing to a longer stay.
Eco-friendly properties are now a must-have as tenants aim to minimise both energy bills and environmental impact. Many are proactively seeking environmentally conscious living, such as electric vehicle charging options, energy-efficient appliances, solar panels, and smart heating systems.
Thriving in 2024
As we step into 2024, the Cotswolds rentals market remains vibrant, fuelled by its timeless appeal. For property owners navigating this dynamic landscape, The Cotswold Letting Agency is ready to offer support. Explore their services on their website or contact their team on email@example.com to embark on a successful property ownership journey.