Buyer interest rises as the country home market recovers. – TNT

With summer fast approaching, there is a renewed energy rippling through the country house market across the Midlands and the Cotswolds, according to Chartwell Noble.

The estate agency reports that spring was uncharacteristically subdued this year, but market conditions are now improving.

“The rain seemed endless, which not only dampened spirits but delayed launches, photography and crucial early viewings,” said Ross D’Aniello, co-founder & CEO at Chartwell Noblereports. “For lifestyle-led properties, especially those where gardens, terraces or views do the talking, that weather was a real setback. At the same time, economic jitters, driven by fluctuating mortgage rates and ongoing conversations about the timing of rate cuts, made for hesitant buyers. However, since mid-May, there’s been a real shift.”

D’Aniello says that his estate agency is seeing a tangible increase in viewings and a sharp rise in buyer intent. The mortgage market is more competitive, inflation is heading in the right direction and people are ready to make decisions again – especially with the long summer holidays looming.

He continued: “At Chartwell Noble, we are also seeing strong signs of life returning to the country house market. In the past six months alone, we’ve brought over £75m  worth of prime homes to market, ranging from traditional Cotswolds stone gems to substantial family houses with land in Worcestershire. Sellers are a mix of upsizers wanting more space for growing families, and long-term downsizers finally making their move after decades in the same home.

Here are D’Aniello’s key observations for the prime country house market right now:

The Cotswolds

What’s particularly interesting this year is the sheer strength of the off-market space. In the Cotswolds especially, discretion continues to dominate. For many of our clients – on both sides of the transaction – privacy, pace and a sense of exclusivity are paramount. Some of our best deals this year have been agreed without a single online listing. Buyers are increasingly willing to pay a premium to avoid the open market scramble and as agents embedded deeply in the local network, we’re uniquely placed to make those introductions happen quietly, efficiently and successfully. For sellers, it’s about control. For buyers, it’s about access. For us, it’s about trust.

Demand here is still very much focused on period homes in prime villages, particularly those with good pubs, decent Wi-Fi and walking access to countryside. Our London buyers are still here in force, typically families looking to relocate or hybrid workers wanting a second base within two hours of town. Homes that are ready to go or just need a light touch, continue to fly. Garden studios, annexes and space to work from home are now essentials, not luxuries.

Midlands

Meanwhile in the Midlands, it’s been a slower burn – but it’s happening. We’re seeing strong appetite for houses with land, particularly in the £1m–£1.5m bracket, and within striking distance of top schools. However, buyers are analytical. They’re doing their research, comparing square footage, EPC ratings and historic price data. If a house is priced correctly and presented well, it will sell. But if it’s tired, needs too much work or has an optimistic price tag? Expect it to sit.

Downsizers

One of the most noticeable changes in recent months has been the return of the downsizer. Many of these buyers are now finally making their move after 30 or even 40 years in the same home. What’s tipped the balance is the increased choice at their price point where much of it has been unlocked by tax changes to second homes. There’s now a flood of smaller, manageable properties on the market, and downsizers are snapping them up – especially those that are energy efficient, low maintenance and within walking distance to amenities. They’re also unlocking the chain above them, which is helping to stimulate activity across the £1m–£2.5m range. This in turn has meant around 10% of our current vendors are now downsizers – a sizeable increase since this time last year.

Pricing

We are in a price-sensitive market now – and not all sellers are realising that. Properties that are priced realistically – especially those that tick the lifestyle boxes – are still selling well, sometimes within days and occasionally with multiple offers. However, the gap between well-priced homes and overvalued ones has never been wider. It’s frustrating to watch good houses linger because they’ve been priced by someone more focused on winning the instruction than delivering a sale. I’ve never seen so many price reductions in such a short period of time, and the only person it’s damaging is the seller.

That’s particularly true for larger country homes… the ones with six plus bedrooms, outbuildings and serious acreage. These used to sell on charm alone, but if they need major work, buyers today are cautious. Build costs have soared and purchasers expect that to be reflected in the price. Unfortunately, not all agents are having those hard conversations with their clients. We’re pleased to be seeing a rise in upper-quartile properties coming to the market, but the truth is, this market rewards realism and decisiveness. A bold move, priced right and presented well, can still achieve a brilliant result. However, the sellers chasing yesterday’s headlines or banking on blind optimism? That’s where disappointment creeps in.