Head into winter with the latest property market news!

Head into winter with the latest property market news!




Property market boom continues into autumn

 
Buyers up. Prices up. Supply up.

An astounding number of homeowners and movers are progressing with their sale right now, with 140,000 more buyers in the process of completing when compared to this time last year.
 
Since the end of the country's spring lockdown, we've seen record levels for properties reaching 'sales agreed' in the UK, culminating in there being 50% more homes going through the system as buyers rush to meet the stamp duty deadline.

Zoopla estimates that there are currently over 418,000 sales in the pipeline awaiting completion, with an overall value that's over £112 billion.
 
 
What are the key facts and figures behind all of this market activity?
 
- Sales agreed hit an annual high back in August, showing a 62% year-on-year uplift.

- There has only been a slight change in pace, as sales agreed were running at a 53% year-on-year uplift this month in comparison to October 2019.

- Regionally, sales agreed year-to-date are up the most in the South East by 15%, followed by London at 12% and the East of England with 11%.
 
 
With the deadline for stamp duty savings looming, what can you do to increase your chances of completing in time?*
 
To avoid any disappointment, make sure you can do your bit to help move the process along, follow these tips:
 

Acquire a reliable solicitor
 
The housing market will remain open this winter, including for agents, solicitors and conveyancers.
 
Having gone through a second lockdown and emerged into the government's tiered system once more, these representatives should be fully prepared to provide a seamless experience whether from home or the office.
 
Meaning once an offer's been accepted, you can move to the next stage without any unnecessary hold-ups.
 
 
Identify issues early on

A conveyancer will identify any problems and will offer solutions.
 
Obtaining the relevant information and agreeing a positive way forward will take time. If you know your issues early on, try and get them sorted as soon as possible and keep your solicitor updated.
  

Manage the chain

If you are in a chain, issues may arise that are beyond your control.

It is important you understand your dependencies. Talk to your seller, buyer and their agents regularly, monitoring what is happening with any related transactions and making sure you're all working towards the same target; that being, the same completion day.

Good communication will keep things on track and avoid any delays along the way. Talk to us today for more information.

 
 
*Stamp duty holiday ends 31st March 2021.
 



Why it’s the season to buy or sell property!

 
There are a wide range of influences that can prompt people to buy or sell in the run up to Christmas.
 
With market momentum showing no signs of slowing down, we've pulled together the key reasons to explain what's behind property market activity at this time of the year.
 
 
Avoid unpredictability

In 2020, it's fair to say we've all had a rollercoaster of a year so far, with the pandemic and Brexit negotiations making it hard to predict what could happen in the months to come.
 
However, what we do know right now is that the property market will remain fully open and that agents are being actively encouraged to continue progressing sales and lets, which should give homeowners and movers confidence regarding current market conditions.
 
At the same time, there's also the stamp duty holiday to consider.
 
Ending on the 31st March 2021, the scheme will mean you could save thousands off your next property purchase, incentivising many of us to make full use of the savings on offer.
 

Stand out

With some homeowners hesitant to buy or move in the winter months, you're guaranteed better chances at finding serious buyers and seeing less competition for their attention.
 
Whilst November and December are months that traditionally see more motivation from home movers, this will be especially prevalent this year, with everyone invested in completing before the stamp duty deadline.
 
Meanwhile, as a buyer, your offer is likely to stand out, meaning you can reach 'sale agreed' sooner than in other seasons.
 

Interest rates

At the moment, interest rates are at a historic low, making it one of the best times to find a great deal on mortgages.


Don’t get caught out in the spring rush

In the past, we've experienced a spring rush, as those who had delayed their move for warmer months flood back to the market.
 
Increased competition can often mean that you initially receive fewer viewings and offers, with buyers' attention divided by the new listings coming onto the market.
 
By avoiding the spring rush and starting the process now, you could secure a buyer in advance and be in your new home in 2021.
 
 
To get started with your property sale or search, contact our experienced agents today.
 
 
 
 



Hacks to keep your home cosy this winter

 
With much of the UK workforce now operating from home once again, it's estimated that we'll see a collective hike of almost £2 billion on our energy bills.*
 
Here are our top ten cost-effective hacks to keep you warm this winter:

Cover up bare flooring – wooden floors can be notoriously cold, but thinner carpets can also be chilly. The addition of a thick, cosy rug can really make a difference to the warmth of the room, whilst adding a stylish touch.
 

Be smart about furniture placement – similarly to adding staple pieces such as a fluffy rug to a room, other larger pieces of furniture can make a huge difference, as can their placement in your home.
 
Any furniture blocking a radiator should be rearranged to ensure that the heat can flow around the room more evenly, creating an overall warmer environment.
 

Use draft excluders – these can be particularly useful if you are renting an older property.
 
Place these in front of doors to keep the heat in. This will save you money on your energy bills as less heat will escape the property. They can also be matched to your current interior.
 

Let the sun in – on sunnier days this winter, open your curtains and let the sun warm up your home. Sunlight is not only great for naturally warming you up but also for your mental health and energy levels. 
 

Keep the heating on low – this may sound bizarre, but having your heating on a constant low level during the day can lessen your energy bills.
 
This prevents the periodical off-on that will cost you more in the long run. Similarly, this will avoid pipes bursting when the temperature drops below zero.
 

Heavy curtains – another way to keep the heat in this winter is to hang heavy curtains or blinds near your windows, as the fabric will absorb the draft that would otherwise be coming into your property.**
 

Keep doors closed – once your heating or fire is on and warming up your property, ensure you keep doors closed to keep the rooms you’re using nice and cosy, rather than letting heat escape into unused sections of the house.
 

Be selective – any rooms that aren’t used regularly, such as guest bedrooms and bathrooms could be costing you extra money on energy bills.
 
To avoid this, turn the radiators in these areas down, keeping them on low to avoid the pipes freezing.
 
Similarly, areas such as the kitchen and bathrooms won’t need to be heated as much as your living room, so remember to take this into consideration.
 

Block your chimney – if you’re lucky enough to own or rent a property with a gorgeous chimney, these can be a huge culprit for making your home chilly.
 
To avoid this, try purchasing a low-cost chimney balloon. These can be inflated inside the chimney – out of view – and will block cold air coming in, as well as preventing heat escaping.
 

Bundle up – it wouldn’t be a 'keeping warm in winter hacks' piece without mentioning layering!
 
As clichéd and predictable as it is, wearing a jumper, dressing gown or a fluffy pair of socks is a great way to stay warm on a budget. This paired with a warm drink and a bowl of soup creates the perfect cosy evening in.
 
 

For more information or support with your property, contact our team today.
 
 
 
 
*Source: The Guardian
**Notice for tenants: if any alterations to your property are needed to make this change, please ensure you have permission from your landlord prior to doing any work. 

 



What buyers really look for when they are viewing your home

 
In their recent study, comparethemarket.com uncovered some interesting research on the property market to help sellers and their agents understand exactly what stands out to UK homebuyers.

Using eye tracking technology, they were able to precisely monitor engagement during viewings, which establishes whether the core USPs you think your home possesses truly matter to potential buyers.
  

Here are some things you might want to consider.

Radiators. As we step into winter, it will be high on people’s priority lists to check if there is cost-effective and efficient heating throughout the house.
 
If you have viewings booked, consider turning on your heating before they arrive; not only to ensure a warm, cosy environment but as a way of showcasing your radiators are fully functional.

Access to the garden. Not having easy access to a garden can be off-putting to buyers – especially after the year we have had.
 
For this reason, a lot of people are now looking for homes with extra outdoor space, so make sure the garden is accessible and well presented.

Water pressure. Another thing that people do when viewing the kitchen is turning on the tap to check for any faults with your water pressure and / or plumbing.
 
Is your water pressure to normal standards or do you need to have your plumber look it over?
 
As a key room for homeowners, potential buyers are extra vigilant in this section of the property, meaning it’s important to keep your tap limescale free and wiped down with baby oil for an added shiny finish.

Cupboard doors. Another thing viewers look out for when in the kitchen is the quality of the cupboards.
 
Replacing items in the kitchen usually comes with a hefty price tag, which can be a big factor for buyers. Make sure your cupboard doors are screwed on tightly and wiped down.

The oven. Viewers tend to look at the oven to see if it is operational.
 
Make sure it is clean and avoid cooking anything too smelly before the viewing takes place. Ensure the hobs and trays are as clean as possible too!
 
 

Following their study, Head of Mortgages at comparethemarket.com – Mark Gordon – commented: “UK house prices are currently on the up and with the stamp duty holiday prompting more buyers to get on the property market, it’s a competitive time for homeowners looking to sell their home.

“We conducted this experiment to determine the areas of the home that buyers look at most to help sellers maximise their chances of a sale. Some sellers may not have considered these factors when preparing their homes for viewings, so we hope our insight will help them focus on the areas they should check and freshen up.”
 
If you need help selling or buying this winter, talk to us as your local property experts – book your valuation today. 
 
Please note: when organising viewings for your home this December, please help your agent by adhering to the latest government guidance, which includes remaining outside of the property for the duration, disinfecting any common touch points like door handles, and making sure to limit contact.