The idyllic charm of the Cotswolds has long been a magnet for those seeking a quintessentially English lifestyle, and the Cotswold Real Estate market in 2024 reflects an ongoing evolution in preferences and demands. As we delve into the current Cotswold rental trends, it becomes apparent that the Cotswolds rental scene is remaining strong whilst also undergoing a few changes.
Decrease in Investment Properties, Rise in Tenant Demand
One significant shift in the Cotswolds rental market is the dwindling number of investment properties. Landlords are increasingly opting to sell, reducing the available stock for prospective tenants. This shift has created a higher demand for available properties, and as a result, homes are being let within an average of 24 days, emphasising the swift pace of the current rental market.
Traditional Charm vs. Modern Living
The charm of quintessential Cotswolds cottages remains a significant draw, with edge-of-village cottages featuring pretty high on renters wish lists. Homes with cosy rooms, wood burning stoves and exposed beams are as popular as ever, especially with tenants looking to fulfil their dream of living in the Cotswolds. In contrast, there is also a discernible interest in modern living spaces, with open-plan layouts, particularly spacious kitchen diners maintaining their popularity. This Cotswold rental trend is especially prominent in barn conversions and more rural properties, providing tenants with a blend of traditional aesthetics and contemporary functionality.
Cosy Features and Luxurious Amenities
The enduring appeal of exposed beams and cosy sitting rooms is a definite Cotswold rental trend, but we should not overlook the desire for luxury living – often crucial in our tenants’ decision-making process. Wood burning stoves in the sitting room, and occasionally the dining room too, add a touch of warmth and bring character to a Cotswolds long term rental property. But when it comes to luxury, a high-spec, well-equipped kitchen boasting top of the range appliances is an absolute must for property owners looking to command premium rental prices. Equally the trend for luxury bathroom fittings – large walk in showers, roll top baths and underfloor heating, are increasingly considered essential by tenants seeking a premium living experience.
Supply and Demand Dynamics
According to an ONS report, private rental prices paid by tenants in the UK increased by 6.1% in the 12 months to October 2023 – representing the biggest annual percentage change since comparable records started in January 2016. This trend can be seen in the Cotswolds rentals market, where supply and demand principles are ensuring rental prices remain strong. Landlords find themselves in a favourable position, with the potential for higher returns on their rental investment, especially for those properties presented to the highest standard.
One Cotswolds rental trend that looks set to stay is the demand for furnished short let Cotswold rental properties, where flexible rental terms continue to cater to the evolving needs of tenants. Here at The Cotswold Letting Agency we see many local home-owners, with large renovation projects on their hands, looking for a short-term let to escape from the builders and brick dust! Equally, a high proportion of tenants are new to the Cotswolds, and therefore the option of a short-let allows them to test out a new area before committing to a longer term stay.
Sustainable living is most definitely a Cotswold rentals trend that looks set to stay. The demand for eco-friendly properties includes features such as energy-efficient appliances, solar panels, energy-efficient lighting, and smart central heating systems. Double glazing, draft-free windows and doors, along with well-insulated lofts, are becoming standard requirements for tenants looking to minimise not only their energy bills but also their impact on the environment. Additionally more and more tenants are looking for electric vehicle charging at home – a simple add on for property owners to consider..
In conclusion, we believe the Cotswolds rentals market will have a buoyant start to 2024, in part thanks to the timeless allure of Cotswolds living. As we navigate the evolving landscape, it’s clear that the Cotswolds continues to be a sought-after destination for those looking to experience the best of English countryside living.
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