The latest Property Bulletin from Reeds Rains

The latest Property Bulletin from Reeds Rains




What will happen to property prices in 2022?

 
 
The sudden appearance of COVID-19 kickstarted a tidal wave of market activity as people nationwide upped sticks and pursued a new life elsewhere.
 
In 2021 alone, house prices increased by 9.8% in England and 15.5% in Wales. *
 
But, can we expect house prices to continue soaring throughout 2022?
 
Well, a major property portal still predicts prices to rise by a further 5%.
 
Reports also indicate that there has been a 19% hike in valuation enquiries since December. **
 
Whether these figures are buoyed by those taking advantage of a more flexible working environment or wishing to return to the lifestyle they had before, it’s clear that many people are looking to move soon.
 
With buyers flooding the market and the spring boom on the horizon, now could be the perfect time to sell.
 
The expected peak could also be good news for buyers as higher values tempt more sellers to list.
 
Therefore, the market may begin to balance out while continuing to strengthen.
 
Still unsure what your home is worth?
 
The last two years have taught us that the property market is highly dynamic and rapidly changing.
 
That’s why we recommend an up-to-date appraisal – you may be pleasantly surprised.
 
Our friendly team are on standby to advise on your unique situation. We’ll share insights about the current market and furnish you with an accurate valuation.
 
Contact us today to discover your property’s true potential.
 
 
*Based on recent data from the UK House Price Index
**Compared to the same period in 2020.



Prepare your property for a sale

 

If you’re preparing to sell your property this year, then you might be unsure about what you need to do beforehand.

 

Don’t fret, we’re here with a list of top tips to help get you ready to show off your property.

 

Create a good first impression

Remember that the first impressions of your home are essential during a sale.

With that in mind, making sure your home’s exterior is visually appealing and attractive will be your biggest priority in preparation for listing.

We’d strongly recommend that you take the following into consideration:

  • Clean your windows, it’ll be easy to notice if you haven’t!
  • Give your front door a lick of paint to freshen it up and make your entrance feel more welcoming, you can easily do this by replacing the doormat if yours is looking a little tired.
  • Tidy up your hall by removing any post.
  • Remove weeds from your path and tidy your garden.
  • Make space on your driveway for visitors to park.
 
 
Upping your presentation
 
It is also important to ensure your home’s interior is presented in its best possible light, as this will provide buyers with a vital opportunity to picture how they will fit into the living space.
 
  • A simple suggestion, but one which can have a massive impact, is to declutter. Removing large bulky items from view will help maximise your home’s space.
  • Let in the light by keeping the curtains open, windows clean and any natural sources of light clear to give your home as bright a feel as possible.
  • Make sure all rooms are heated prior to viewings, even those you don’t use often, to provide your home with a cosy feel during the winter months.
  • Keep your bathroom and toilets clean, free of mould and tidy, and make sure your toiletries are kept to a minimum.
 
Time-consuming as it may seem, keeping your home organised and welcoming will put you in good stead for when the viewings start.
 
Remember; visitors need to be able to imagine themselves in your home!
 
For further guidance on selling your home, contact our expert agents today.
 



Rental market predictions for 2022

 
The pandemic has influenced rental demand and opportunities across the country, but what does this mean for tenants and landlords in 2022?
 
Changing demand and supply
 
UK rental prices increased by 8.6% between November 2020–21. ** Despite this, a recent market report shows that affordability remains roughly the same, with 37% of a single tenant’s income spent on rent. 
 
What will 2022 bring?
 
It has also been reported that overall demand for rental homes has increased by 43% while supply has dropped by the same amount, based on a five-year average. This is a result of fluctuating movement patterns and remote working.*
 
Rental market activity is set to rise as workers and students are being encouraged back into urban centres, making city centres an attractive prospect for investors.
 
While London’s rental prices are still lower than pre-pandemic levels, we can expect this to increase as supply dips in the coming months. Data shows there has likewise been a 60% hike in demand in Birmingham.***
 
Now is a great time for landlords to invest in quality housing to make a strong return while easing pressure on the rental market – a win for tenants too.
 
Call our property experts today to have your property valued for the lettings market.
 
*According to recent data from the UK House Price Index
**Based on the HomeLet Rental Index
***According to Zoopla’s November 2021 Rental Market Report



How to prevent emergency property issues as a landlord

 

As a landlord, it is a legal responsibility as well as a moral obligation to make sure your tenants feel safe in your property. 

 

Additionally, emergency property issues are costing landlords billions every year, according to research from Direct Line. 

 

For both the reasons above, it is important to help prevent the need for emergency callouts and issues – where possible.

 

The most common issue for landlords to fix is plumbing, closely followed by gas or heating.

 

Thankfully, on average, plumbers have the best arrival time out of all contractors, with a typical response time of 13 hours from first contact, whilst gas and heating engineers take a little longer to respond at 21 hours. 

 

We've provided a few useful tips, which should go a long way to preventing these problems.
 
1) Clean your pipes often

 

Hair, grease and other gunk can build up in your drains over time, potentially causing a blockage. 

Using a non-corrosive drain cleaner is a great idea to clear the grime in your pipes. 

 
2) Annually service your boiler

 

Whilst it might sound unnecessary to have your boiler checked every year, a qualified heating engineer will be able to spot minor issues that need fixing before the situation escalates. 

 

3) Insulate your pipes

 

During winter, it’s important to ensure your pipes don’t freeze, as this could cause them to burst. 

Insulation can be cheaply purchased from many DIY stores and is easy to install. 


4) Check your fuse box is in date

 

It is easy to forget about your fuse boxes, however, they contain essential features that prevent electrical faults and fires. 

If your fuse box is close to expiring, hire a qualified electrician to ensure the property is safe. 

 
5) Change the smoke alarm batteries


Whilst this isn’t an issue that requires an emergency contractor, it could require the emergency services if left neglected. 

Smoke alarms are crucial to alerting people in the property of a potential fire and could be the difference between life and death. 

Batteries are cheap to buy and easy to install, making it a simple job to protect your tenants and your property. 


For any questions about our services for landlords, get in touch from our website.