The Rivals impact: House costs rise by as much as £20,000 in picturesque Cotswolds countryside featured in raunchy Disney present…how a lot has the worth of your private home modified?
Cotswolds homeowners have seen the value of their homes rise more than anywhere else in England – as the picturesque region plays host to raunchy TV series drama Rivals.
The ‘bonkbuster’ Disney+ show, adapted from Jilly Cooper’s steamy novel, is set in the county and depicts warring media factions vying for the lucrative regional broadcast contract.
And, the show’s runaway success has raised more than just eyebrows with Cotswold homeowners enjoying the biggest monthly price boost in the latest House Price Index report.
The average home in the region increased by 4 per cent in value from August to September, worth nearly £20,000, according to data from the Office for National Statistics (ONS).
However, house prices in the same region actually fell by 3 per cent over the last 12 months making the average property now worth £490,887.
In comparison, house prices across the UK rose around an average of £8,000 in the last year, analysis from Purplebricks show.
Over the 12 months from September 2023, average property prices rose by 2.9 per cent despite falling 0.3 per cent from August this year, the HPI showed.
The average price of a home in the UK fell slightly bringing an end to the eight months of consecutive rises as the average price of a home is now valued at £292,000.
The average home in the region increased by 4 per cent in value from August to September, worth nearly £20,000, according to ONS data. Picture: A four bedroom property in Stroud up for £850,000
Pictured: The spacious kitchen area complete with wooden furnishings of the four bedroom property in Stroud
Every region across the country saw an annual rise with England recording a 2.5 per cent gain, Wales a modest 0.4 per cent and Scotland an impressive 5.7 per cent year-on-year.
Properties in the North East defied the trend and grew considerably in value, with a gain of 6.5 per cent or £11,092 in the last 12 months, making the average home now worth around £164,788.
Homeowners in Scotland have enjoyed a positive 12 months with a 5.7 per cent rise from last September but will be left disappointed with an almost 1 per cent loss from August.
Scottish homes now sit at an average price of around £198,046 – a loss of over £1,900 despite the trend of the last year.
Indeed, it is Scots from the far north of Shetland who are the Brits with the most to celebrate today.
Homes on the archipelago have risen by 19 per cent from September 2023 with an increase of £39,527 over the year, sure to warm the islanders during a cold winter.
An average home on Shetland will set buyers back £212,527 according to the report from today – a rise from £173,000 last September.
And, homes in East Renfrewshire increased 11 per cent over the last year, adding some £32,433 to their value, making them the average home worth £323,433.
South of the border, homeowners were seeing an average of 3 per cent equivalent to £7,720 being added to the value of their home, making the average English property worth £303,034.
House prices in the Cotswolds actually fell by 3 per cent over the last 12 months making the average property now worth £490,887. Pictured: A three bedroom house in Chipping Norton up for £550,000
Pictured: The living room of the three bedroom house in Chipping Noton complete with wood burning stove
In comparison, house prices across the UK rose around an average of £8,000 in the last year, analysis from Purplebricks shows. Pictured: A five bedroom house in Chipping Norton up for £925,000
Pictured: A bedroom and en-suite bathroom in the five bedroom home in Chipping Norton
Homeowners in the capital won’t have much to celebrate today as London has seen the average price of a property fall for the month and year, according to the HPI report.
Properties in the UK’s most populated city lost around 1 per cent of their value, a decrease in value of around £2,628 annually.
The average price of a home in London now stands at £525,586 with many boroughs in the city losing out.
The five biggest losers in the entire United Kingdom are boroughs of London including the City of London and plush Kensington and Chelsea.
City of London property owners’ homes have dropped 20 per cent from September 2023 losing more than £150,000 in value.
Meanwhile in Kensington and Chelsea, home of E4’s reality show Made in Chelsea, there was a 12 per cent loss equating to £141,988 being lost.
Nick Gunga, managing director of Purplebricks Estate Agency said: ‘This slow down should be seen as little more than a bump in the road.
‘Prices often fluctuate up and down and the overall trajectory is on the incline – mortgage rates are falling and many homes are being put up for sale due to the change in capital gains tax and stamp duty announced in the Budget.
‘It is clear that the Government is keen to impress in the housing market with their own agenda through the Budget however homeowners are unlikely to enjoy the downturn in house prices however slight.
‘Many homeowners have finally enjoyed reaping the rewards of a strengthened housing market which will hopefully continue to trend in the right direction.’
