The latest property bulletin from Your Move

Buyers could have a second chance at stamp duty savings

 

Initially announced in 2020, the stamp duty holiday was intended to aid homeowners through the buying process during the pandemic.

As expected, many took this opportunity to upgrade to their dream home or purchase their next investment, as savings of up to £15,000 were up for grabs.

Although it was thought that activity would begin to peter out at the end of last year, given that the original completion deadline was March 31st, that wasn't the case for the first part of 2021.

Now, with the recent extension announcement, the nation's home movers have a second chance at seeing incredible savings, with around 613,000 properties at 'sale agreed' by mid-January and likely to be the first to benefit from this protracted period.*

Even with an end in sight, buyers and sellers appeared mostly unfazed and continued to buy and sell regardless of the March deadline, which may have been as a result of the increasing availability of mortgage products with 10% deposits.

Another possible explanation for this is that property priorities have changed in the past 12 months due to sellers needing more space and falling out of love with their current home, making their need to move more urgent.

By giving homeowners and investors until the end of June, it is thought that the housing market will see further spikes in buyer activity as conditions prove advantageous, with the sector already demonstrating above average trends compared to previous years.

During a 10-day period in January, there was a reported 12% increase in estate agency enquiries and a 9% increase on sales agreed from 2020.

Combined with the fact that Rightmove are seeing ever-increasing website visit numbers, which in January were 33% higher than last year, these statistics give homeowners and buyers a promising opportunity in 2021.

If you are looking to upgrade your home this spring, our team of professional agents are here to help.

As your trusted agent, we specialise in local knowledge and attention to detail when valuing your property. For more information on what we can do for you, contact us.

 

*Property Reporter 

 

Tips to speed up your home move

 

There are some elements during a home move that are out of your hands. 

 

That said, if you're prepared and communicative, you can certainly have an influence on the overall process and reduce any additional delays.

Respond in a timely manner

This might be an obvious tip, but it’s not uncommon for buyers or sellers to take their time when responding to something simple.

 

When you receive documents to fill out, it’s important that you don’t dwell on the task for too long.

 

It can be tempting to leave paperwork to the last possible minute, but if possible, you should set aside time within a couple of days of receiving them.

 

Be flexible

Right now, there are many things that could force you to compromise and deviate from the initial plan.

 

For example, if you’re scheduled to move in the next two weeks, but the buyer would like this to be earlier, are you able to compromise?

 

It might be worth considering outlining your limitations from the beginning so everyone can plan accordingly and avoid any surprises later on.

 

Organise your questions beforehand

If you need to make an urgent call regarding your home move, write down all the questions you might need to ask before you pick up the phone.

 

This will allow you to get the answers you need in just one call, instead of having to go back multiple times as and when you think of new queries or concerns.


Ask away when choosing your solicitor

Whether you've been recommended a solicitor or you've found one for yourself, it's always a good idea to call them before making your choice, as you need to determine if they're the right fit for you and your property.

 

If you’re unsure about what you could ask, use some of the following questions:

- What should I expect from the process?

- How will I know when tasks are completed?

- How will you communicate with me?

- Are there any delays that might come up that you’re aware of?

If you’re looking to move home, browse our latest properties or speak to us today. 

 

 

 

House-buying behaviour continues to be shaped by working from home

 

With the number of vaccine jabs administered in the UK now over 21 million, we can start to imagine a future beyond the pandemic, but it's expected that the 'new norms' many of us have adopted will have lasting effects in our day-to-day lives. 

 

Working from home has gone from being an infrequent luxury to a very real reality – whether we've wanted it that way or not.

Jobs advertising remote working tripled since November 2019, going up from 26,600 to 80,700 listings in November 2020.*

With remote working now an expected part of life, the desire for a home office has skyrocketed, leading to interesting levels of activity on the market for larger properties.

 

COVID-19 has impacted the behaviour of homebuyers, as well as the priorities of employers and businesses, who now recognise that proximity to the office is no longer a prerequisite for their team members, allowing for greater flexibility on where people choose to live.

 

In a recent 'Home Moving Trends' survey, 35% of participants cited an office space as being more important since the emergence of the pandemic.**

 

The survey also showed that broadband was high up on homebuyers’ agendas, with 37% wanting enhanced Internet speed when searching for a new home.

If you're no longer restricted to a property based near your work premises, we'd like to help you.

Browse our latest properties or talk to our team about your home-buying criteria. 

 

 

 

*New Street Consulting Group

**Conducted by the Property Academy on a national level

 

Half of tenants worried about their housing situation

 

It's recently been found that 50% of UK tenants have expressed anxiety about their housing situation, with the most common concerns including unemployment and rent increases.

 

Whilst research from Aldermore Bank suggests that 41% are worried about their financial security.

In a time where a home is more important than ever, the impact of the pandemic is taking its toll on our mental as well as physical wellbeing, which is where we need to communicate with one another more than ever.

Encouragingly, 74% of tenants have spoken about the positive support their landlords have given them during these times.

 

Listening to their tenants’ concerns is an important part of being a landlord and it’s clear that many are fulfilling this role.

 

What help is available?

 

If landlords are struggling financially or they've seen a dip in their rental income, they can explore such avenues as a mortgage payment break with their lender, if it is deemed as necessary.

A quarter of those renting have decided to look for a property to buy and are actively saving for a deposit on a home, but the majority have had to delay or postpone their plans due to the current climate.

 

Whether it's to buy or rent elsewhere, many tenants are considering moving due to their current accommodation not having the facilities they’d like.

 

The main features that tenants desire include: a bigger kitchen (32%), more living space (27%) and a more energy-efficient home (25%).


If you’re looking for a different home to rent or are interested in buying, get in touch with our team.