In especially strong demand: farmhouses, with or without the accompanying land, which are increasingly attractive to “lifestyle buyers” seeking “a slice of the countryside as they switch from urban to rural living,” Mr. Sudlow said.
At his agency’s Oxford office, which includes part of the Cotswolds, properties are receiving twice as many requests this year as they were in 2019, he said. By the end of June, the office had exceeded 2020’s sales numbers.
Despite the ballooning demand, inventory in the area remains tight, said Mr. Edwards, the Knight Frank listing agent. Homeowners “are not enticed into the market to capitalize on the good selling conditions because they don’t need to or because they don’t feel there is anywhere for them to go to,” he said.
According to the HM Land Registry, residential property prices in the Cotswolds administrative district were stable between 2019 and 2020, then began to rise. In July, the average price for a home in the district was 439,106 British pounds ($595,000), up from 389,608 pounds ($528,000) last July and 390,932 pounds ($530,000) in July 2019.
For detached homes, the growth was similar: around 13 percent, rising to 655,761 pounds ($888,000) in July from 577,916 pounds ($783,000) last July and 580,182 pounds ($786,000) in July 2019. The annual growth is the greatest in the region in more than a decade, Land Registry data show.