Home buyers looking for a quintessential slice of the English countryside have long flocked to the picturesque Cotswolds, where gaining a foothold on its famous limestone-lined streets has long garnered a reputation for high asking prices.
With celebrities snapping up properties in the area in their droves and the typical house prices sitting at £419,000, 40 per cent higher than the national average, buying a home in the Cotswolds has become a status symbol for some, that has increasingly priced local people out of the market.
Prospective buyers might be drawn in by the allure of seeing US talk show superstar Ellen DeGeneres, 67, passing them at a red light, after her purchase of a £15 million estate outside Cheltenham; they might also hope to spot Calvin Harris in the local Co Op, near to his £3.9 rural retreat in Moreton-in-Marsh.
But one town in the Area of Outstanding Natural Beauty has become a favourite for bargain hunters and young buyers. Green and leafy Stroud, where the average house price is £325,000, a whopping £600,000 less than some properties in neighbouring parts of the sought-after rural idyll of the Cotswolds.
Despite being nestled in a valley on the western edge of the Cotswolds escarpment, Stroud boasts a commutable distance to London, the Mail reports. However, this is having a negative impact on local residents who have to compete with workers in the capital for housing.
With amazing natural amenities just on the doorstep, the town with 13,468 residents has a reputation for being trendy with a vibrant arts and environmental scene and a younger than average age for the area. But many are struggling to get a foot on the property ladder.
Stroud resident Oliver Melsome, 41, has lived in the area all his life and told the Mail that ‘more and more young families are being priced out’ as home buyers look for that sought-after Cotswolds label, without the price tag.
“People are always buying second, third homes here. It’s crazy. It’s driving prices up around here too”, Oliver told the Daily Mail. “Those moving in from the cities are kicking out families who’ve grown up here and owned farms for generations.
“They’re being outpriced. It’s very sad to see.”
Rightmove figures show houses in Stroud going for over half the price of some of its neighbours, with picture-perfect Bibury seeing properties go for around £900,000 on average. This has made it an attractive spot for young families looking for somewhere peaceful to put down their roots.
Residents for 50 years, Bob and Beryl Preedy, 79 and 78, also spoke to the Mail, telling them that Stroud presented a less dangerous option than the capital, saying: “It’s affordable and good for young families.
“It’s much nicer than Ilford or London – which are becoming more dangerous – and that explains why it’s getting more popular.
“There are lots of new housing developments cropping up, however, which our roads aren’t made for. We do also worry that will bring more people and it will become more crowded.”
34-year-old Rachel Hall, a Stroud native who has also lived in London, said that outsiders looking for that rural idlly had gentrified the town, saying: “All the little villages are being stuffed full of Airbnbs and people are moving into the village from outside who haven’t lived rural life before.
“Just like in Clapham or Brixton, Stroud is being gentrified. It’s lovely for an organic market with sustainable produce at the weekend, but it’s got a high cost of living.
“During the pandemic lots of Londoners bought houses here and then ended up relisting them a few years later or keeping them as an investment property, which screwed the housing market.
“House prices are going up which is a big concern for locals.”
Finding the right home at the right price in the Cotswolds is all about location, with a clear divide running through the area which stretches mainly through Gloucestershire and Oxfordshire. And Stroud is not the only town where prospective homeowners can grab a bargain.
Samantha Scott-White, director of the Cotswolds Buying Agent, explained: “Anywhere north of the A40 is going to be more expensive – even by as much as 30 per cent more pricey.
“All the villages between Burford and around Soho Farmhouse are more expensive, and then south of the A40, towards Cirencester, you start to get more value for money.
“The lowest prices in the Cotswolds are going towards Stroud, Nailsworth, and Wotton-under-Edge.
“These villages are further away from London, so for people who commute in a few days a week or for second homeowners, it’s a bit far out. It’s more than 1 hour 45 minutes from London so it’s a little bit more affordable.
“In these areas you could afford a modern house for about £300,000-400,000, say a two-bed or a smaller cottage.
“But that wouldn’t be your traditional stone houses you would associate as being a Cotswolds house. Those are generally more than £1 million, even £1.5 million plus.”
Clive, the Sales Manager at Sawyers Estate Agents in Stroud, said that the town was on the lower end of the Cotswolds price range for rentals too.
“In terms of renting, it’s about £1,000 a month for a two bed house, a whole apartment is probably around £750, and you can get a room in a shared apartment for £500,” he said.
Adding: “Stroud is the perfect middle ground in the Cotswolds – you can get more expensive parts of it but on the whole it’s very affordable.
“Areas like Bisley, your stereotypical Cotswolds village, can be more expensive and are dominated by second homes.”
