“The market in Cheltenham shows little sign of slowing down as pent-up demand continues to drive activity alongside the stamp duty holiday and experience of lockdown. A desire for more space has created demand for larger family homes, particularly for those expecting to work from home for at least part of the week on an ongoing basis.
“Developments on the fringes of the city have seen increasing interest where many people are discovering – or rediscovering – the joys of local shops and businesses and the sense of community they can provide.
“Life in lockdown has brought a renewed focus on exercise and healthy living also – with an increased desire among many buyers to move somewhere that has plenty of green space. In a recent survey of Savills clients 62% said the amount of garden or the size of an outside area had become more important (up from 49% in April).
“The challenge for developers moving forward is how their new schemes can meet people’s changing priorities and it seems likely that flexible design will be key, allowing homes to adapt.
“Culturally diverse, Cheltenham is renowned as much for its contemporary culture and fine dining as its unmistakable charm. Equally well known for its exceptional standard of education, compact structure and family-friendly lifestyle, Cheltenham is increasingly sought-after with rising interest from buyers further afield.
“We’re fortunate to have a great variety of new build properties in Cheltenham – many of which have their own gardens complemented by surrounding countryside. And even for those developments in more built up areas, communal gardens work alongside balconies to provide greater daylight and corners of privacy for residents.
“59 Lansdown for example is within easy walking distance of the award winning gardens at Hatherley Park and a short stroll from Montpellier Gardens. The development of five bedroom villas enjoy rear gardens and many have terraces with outstanding views to the countryside that surrounds Cheltenham.
“There’s no doubt the housing market has experienced a significant recovery. Agreed sales have increased across the UK, but so have price reductions – suggesting the market is price sensitive. Demand is likely to be sustained throughout the first part of next year in the run-up to the end of the stamp duty holiday, and towards the March and May deadlines for Help to Buy completions under the current criteria.
“Across the housing market, the number of sales agreed in September 2020 was 92 per cent higher than in the same month last year while Savills new homes reservations in Q3 represented the highest quarterly total ever recorded.”
