Local outlook for 2019
In North Wiltshire and South Gloucestershire, the effects of the move out of London will continue to grow. The increase in new work regimes involving more flexible office/home operations means that property prices along the M4 corridor, specifically around Swindon, Chippenham, Bath and Bristol, will start to gain pace. The electrification of the railway will reduce times from Bristol to London, by 17 minutes. This in turn means that the commuter belt has stretched and will continue to do so, further West and North. Demand for well priced properties in towns such as Chippenham, Malmesbury, Box, Corsham, Chipping Sodbury, Yate, Melksham and Calne will continue to grow, and with shortage of stock, will maintain values or rise between March and June.
Likewise, further North, areas around the Stroud valleys, which have seen significant increase in both value and demand over the past year will continue to grow in demand, offering significant value for money, and becoming the new Nottinghill of the Costwolds! Especially the following towns, Cirencester, Minchinhampton, Nailsworth, Chalford, and Stonehouse. This move west, which has been growing over the last two years, means that areas such as Wotton-Under-Edge, Thornbury, and Dursley are now really starting to grow in demand.
The top end of the market, (£2.5M upwards), which is very sensitive to the movement of the pound and political unrest will remain slow for the first half of 2019; the growth will be in the mid market, between £750K to £1M, where those have taken the plunge to sell and move will commit earlier than other sectors and schooling will be important, and the target will be to get in place before schools start in September 2019. Likewise, those who have made the decision to move, want to get their roots down, but live in hope that prices may improve in London, are likely to move out and rent – with a view to sell their London property in the Spring/Summer after the Brexit fallout has started to settle. Therefore I think around the main rail hubs, (Kemble, Chippenham, Stroud, Swindon, Bristol Parkway), we will see an increase in demand for rental properties around the £1,800 to £2,200 pcm sector – (Ie family homes).
After the summer holiday 2019, the market will begin to really come back, and there will be strong activity from September through to January 2020 – where we may see the volume of property transaction increased significantly against 2018.
