BUTFIELD BREACH
A Snapshot of the Market
As we head towards the autumn and the much-anticipated October Budget, there is understandably a degree of uncertainty in the market.
However, there is life in the Calne market. Buyers are active, and properties are continuing to sell, however today’s buyers are increasingly price conscious. For sellers, pricing correctly from the outset is more important than ever.
Sales agreed — last two months
Across the wider market in SN11, 73 sales were agreed over the last two months
Stats dated from 16/07 – 22/09
| Price Range | Total Market Sales | Butfield Breach | Butfield Breach % |
|---|---|---|---|
| £600,000+ | 8 | 2 | 25% |
| £500,000–£600,000 | 3 | 2 | 66% |
| £400,000–£500,000 | 4 | 2 | 50% |
| £300,000–£400,000 | 18 | 8 | 44.4% |
| Up to £300,000 | 40 | 16 | 40% |
| Total | 73 | 30 | 41.1% |
Of the 73 sales agreed, 40 were below £300,000, representing the largest proportion of activity.
Butfield Breach accounted for 30 of the 73 agreed sales — 41.1% of the total during this period.
What is the market telling us?
The figures suggest that there is still meaningful activity across the market, particularly at the lower price points.
At the same time, affordability remains a key consideration for buyers. Higher borrowing costs are inevitably influencing purchasing decisions, and buyers are taking greater care when assessing value.
For sellers, this means that realistic pricing and accurate market positioning can make the difference between attracting serious interest and remaining on the market.
The cost of borrowing
Mortgage affordability has become an increasingly important factor for buyers, mortgage rates have increased continually in the last five weeks.
Even relatively small changes in mortgage rates can make a noticeable difference to monthly payments. An example given to us from our trusted local mortgage advisor: A £300,000 mortgage could cost around £153 more each month / approximately £1,839 more a year on the current rates in comparison to those rates just a few months ago.
For buyers, that additional monthly commitment can have a direct impact on the price they feel comfortable paying for a property. It is therefore understandable that buyers are becoming increasingly price-conscious and selective.
The economic climate
There is continued uncertainty surrounding the economic outlook and the forthcoming October Budget.
While nobody can predict exactly how the market will respond, the current environment reinforces the importance of making informed decisions based on actual local market evidence rather than relying on historic asking prices or optimistic valuations.
Our message to our sellers
There is definite life in the market, with this month seeing the team arrange 120 viewings across our properties so far.
Properties are selling, buyers are active and transactions are taking place. Our sellers who are “reading the room”, understanding current buyer expectations and pricing accordingly are the ones best positioned to find the right buyer.
Price appropriately. Market confidently.