Cotswold barn sells for £900k at auction.
Published ¤ 19/03/2010 19:21:00
Is the recession finally over? A stone built barn in the Cotswolds has recently defied the downward trend in the property market when it sold for almost double its estimate at a property auction at the Stratton House hotel.
The auctioneers, Moore Allen and Innocent, said: "It is approached over a half mile-long driveway with outstanding views in all directions. The barn itself is situated in a shallow hollow, which provides considerable privacy, but from where there is a glorious outlook.
"I have seen much bigger barns in similar locations go for less money at the top of the market. To achieve this sum during a recession is incredible. I'm delighted."
So, does this story prove that the property slump is now over? Or are we facing further property price drops after the election in May. Whatever the situation, one thing is for sure, interest rates have to rise again soon, and when they do, many people will find their mortgage payments increasing sharply.
If you are concerned about the value of your hom, or if you want to ensure you are not caught out when interest rates rise again, then call us on the number above, or click here to send us a message.
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