What's happening this month?

What to do if your home isn’t selling

There can be any number of reasons to explain why your property isn't performing on the market as you had expected.

If it's left you wondering ‘what went wrong?’, we delve into some of the most common causes that could be preventing buyers from connecting with your home.

Your home lacks kerb appeal

The outside of your home is the first thing potential buyers see when they turn up for a viewing.

So, there’s no surprise that it can have a huge effect on a buyer’s decision to put in an offer. More than 68% of homeowners say kerb appeal was important in their choice of home.

The property isn't viewer-ready

It’s important when selling to keep your home looking viewer-ready, as well as to aim for a more neutral tone that appeals to a wider audience base.

Whilst it can be tempting to start splurging on new furniture and items for your new house, it can also have a negative impact on viewers if the room looks too crowded and cluttered.

The photos don’t do it justice

It takes just six photos for someone to decide whether they're interested in seeing more of a property.

If the first six photos don't represent your home in the best light, you could be missing out on the opportunity to showcase your property's core unique selling points, so it's worth raising any concerns that you have with your agent as well as making sure that you stage each room beforehand.

The asking price could be wrong

It's a common misconception that the asking price is behind every single stalled property sale. However, it's important to know where this is and isn't the reason for a home struggling on the market.

Having a competitive valuation with a local agent ensures that you are correctly priced and helps you to avoid any delays or complications.

Want a second opinion on the price of your property? Our team of experienced estate agents can provide you with a reliable free valuation, visit our website for more information.

The estate agent isn’t the right fit for you

Your estate agent should be doing all they can to sell your home, including keeping you updated and aware of the progress of your sale.

If you’re not happy with the service you’re being given, make sure you bring it up.

So, what are my options?

If your home isn’t selling, don’t despair. You still have a few options that will enable you to get moving.

Contact our team today to learn more about our offering and success metrics in your area.

Key questions you need to ask your buyer

Finding the right buyer can save you time, energy and disappointment.

If your chain falls through due to your buyer's financial readiness or uncertainties, you may lose out on other offers as well as the property you had intended to purchase.

Here are the top five questions you need to ask before accepting an offer.

Have they been pre-approved for a mortgage?

Being pre-approved for a mortgage means that a lender has already said their application will be accepted, speeding up the process significantly and reducing the risk of it falling through.

Do they have a home to sell?

Understanding your house buying chain is really valuable, as you'll be able to anticipate any weak points that could lead to your sale and / or purchase from falling through.

More sellers are now opting to rent in between their sale and new home, which means that the chain is much smaller and less likely to break.

Have they made an offer on another house?

If the buyer has put down a deposit on another property, they might not be fully committed to that purchase.

Are they a first-time buyer?

First-time buyers are often chain-free, so the process of selling your home should be quicker.

However, be careful not to make assumptions.

There may be other commitments such as a fixed term tenancy that prevents them from moving quickly, so always check when your buyer wants to complete.

What is their moving timeline?

Remember to ask what their moving timeline is like, as this will tell you how much they must do before they can move.

If their timeline fits in with yours, then they’re probably a suitable buyer for your property.

Need help finding the perfect buyer? Get in touch with us today.

Is selling at auction the right choice for me?

Selling at auction can mean a quick and easy sale, with excited bidders driving up the price of your home. But is it right for you?

Whilst we know selling at auction might not be for everyone, there are some key advantages if you've been thinking about this approach for your next sale.

Speed

One of the top reasons that homeowners opt for auctions is the speed of the process, which can take a matter of weeks once a property has been sold to complete.

Higher price

With your agent by your side, it's crucial to maximise the value from your marketing strategy.

The more interest you can drum up, the more competitive the bidding between interested parties, and all of this will ensure you receive the best possible price for your home.

Guaranteed closure

Unlike with traditional sales, there's a reduced risk of auction sales from falling through.

This is because the necessary checks and paperwork are completed beforehand, so when the gavel falls, the contracts have been exchanged.

Complete transparency

Each bid is made in public so the seller is fully aware of everything as it unfolds, and with a minimum reservice price, you don't need to worry about selling for under market value.

Who is best suited to selling at auctions?

Typically preferred by investors, homeowners looking to expediate the process also opt to sell at auction, where needed.

Want more information about selling at auction? Contact our team today.

How does disrepair impact your property sale?

Throughout the selling process, buyers are looking to assess the extent of the work needed to fix your home to their own standard of living, working out the time and money they may need to invest.

Whilst there are plenty of home hunters out there looking for their next project to tackle, many more will be looking for something that requires minimal fuss.

So, which home repairs can be the biggest deal breakers for buyers?

As the main cause behind serious structural issues, it's no surprise that damp ranks as the highest turn-off according to research.*

Keeping your house well ventilated in every season is crucial to safeguarding your investments, and with 63% put off by bad smells from pets or cigarettes, it's also worth purchasing diffusers before any viewings to keep your house smelling and looking at its best.

Having a messy garden also made the list, with 48% of people saying that it would put them off buying a property, as well as outdated electrics and poor natural lighting.

Aside from making any significant changes to the number of windows or doors in your property, the simplest way to increase the amount of light in your home is to eliminate any dark corners with warm lamps, giving the space the illusion of natural light.

Outdated electrics can be costly and time-consuming for buyers to update. So, if you’re looking for a quick sale, it might be worth getting any major issues fixed before viewings start to avoid a lengthy period on the market.

If you've completed any renovations or refurbishments since moving in, you should consider learning your home's current market value. Book your valuation today.

*GoCompare

A look at what the stamp duty holiday has led to

Since its launch, the stamp duty holiday has led to phenomenal sales numbers for England's property market, with 50% more transactions in Q1 2021 compared to the previous year, pre-pandemic.*

Now, with the tapered end of the holiday in sight, we take a final look at what the property market has seen over the last year, and what is still to come.

Originally intended to stimulate the market after its spring closure in 2020, the SDLT holiday has triggered a house buying boom, with price surges up and down the country and buyers scrambling to put in offers at record speeds.

Even for buyers who may have faced higher property prices over this time, the value of buying with a smaller upfront cost meant that homebuying was an affordable option for 100,000s.

In fact, one survey suggested that four in ten Brits (39%) were able to take advantage of the government's initiative, with many finding themselves better able to save for deposits and moving costs with limited lockdown options.**

Following the end of the SDLT holiday on the 30th September, the rates will be as follows:

- 0% up to £125,000

- 2% on £125,001 - £250,000

- 5% on £250,001 - £925,000

- 10% on £925,001 - £1.5m

- 12% on any value above £1.5m

For advice about buying and selling in 2021, we'd like to offer you our support. Please contact us today for more information.

*Mortgage Introducer

**Show House

What’s next for the property market?

Having contributed to record-breaking sales numbers over the last year, we consider what's next for the property market following the approaching end of the stamp duty holiday.

For first-time buyers

Introduced by the government this spring, the 95% mortgage guarantee scheme has encouraged lenders to offer lower deposit options, paving the way for the return of first-time buyers wanting greater flexibility and freedom becoming homeowners.

This scheme is set to close to new applicants in December 2022, with the government’s total investment expected to reach over £20 billion.

Flexible mortgage schemes

In support of the government's help-to-buy option for first time buyers, we are seeing banks and developers coming together to create other schemes that could essentially replace the government’s help-to-buy scheme when it comes to an end.

An example would be the Deposit Unlock Scheme, which provides buyers with a package that allows them to buy new build homes up to a value of £330,000, with a 5% deposit and 3.5% mortgage rate – fixed for two years.*

High street banks are also beginning to offer 5% mortgages, which offers to lend buyers an extra 10% of a traditional 15% deposit, requiring buyers to only front up 5% themselves.

Looking ahead

Existing and new incentives will boost a drive in the first-time buyer market and are likely to have a similar impact as the SDLT holiday.

Other new schemes could involve cuts to SDLT rates, particularly with second home purchases in order to get this section of the market moving again.

Are you looking to buy this year? Get in touch with us today.

*Newcastle Building Society

What does the supply-demand imbalance mean for you?

Vendors have benefited from the supply-demand imbalance seen across the market in 2021, with 40% of properties selling above their original asking price, making conditions optimal for selling.*

What makes conditions optimal this autumn?

1) Low stock

Due to the pandemic, many people were put off selling their homes whilst the construction of new build properties came to a halt, causing a dip in housing stock.

This means that the homes currently on the market are being snapped up faster, with serious buyers putting offers in much sooner than they otherwise might have done.

2) Increased demand

With UK restrictions easing, buyers are now competing for properties, with 36% of homes attracting offers from three or more buyers.*

Many who originally put off moving due to the pandemic are now looking to relocate, causing a huge increase in demand and sparking bidding wars between buyers.

3) Mortgage rates

With the number of available UK mortgages on the rise, lenders are competing to attract more customers with low-interest rates and low-deposit mortgages, giving buyers more choice than ever when it comes to choosing the correct financial option for them.

Need a helping hand selling your home? Get in touch with our team today.

*Property Reporter and Which?

Surge in sellers renting ahead of their next move

With the sales market continuing to boom, many homeowners have secured a high price for their home in 2021, choosing to put themselves in a stronger position by renting during this stop gap period.

If you’re living in a rented property, you are normally able to move quicker due to not being part of a chain.

Rather than feeling pressured to act fast, this means that you're able to negotiate for the property and price you want.

It's also an incredibly sought-after position to be in when a vendor chooses who to sell to, as without a chain, the sale will be more likely to complete instead of falling-through.

The number of sellers looking for rental homes has contributed greatly to the dwindling stock of rental properties and consequently increasing rents. As a result, there were nearly half the number of properties on the rental market in July than this time last year, with the numbers continuing to drop.*

This is encouraging for landlords, as their properties are in demand with void periods falling rapidly.

But it’s not just homeowners looking to rent.

Due to the pandemic, many tenants no longer have to be tied down to one location.

With working from home now the new norm, a short commute is no longer desirable and moving away is more feasible. This year, 49% of tenants moved just because they wanted to live somewhere different, as opposed to moving from necessity.**

Are you looking to sell your home or put your property up for rent? Our dedicated team offer free, accurate and no-obligation valuations for both the sales and lettings market.

Find out how much your property is worth today and book your market appraisal.

*This is Money

*Estate Agent Today

Moving house safely: a refresher post-lockdown

COVID-19 restrictions may have been lifted but the virus is far from gone. Many people are still wary of going about their day-to-day lives, even after a year of being stuck indoors.

So, how do you move home safely in 2021? The Ministry of Housing, Communities & Local Government have issued these guidelines to keep you safe...

Can I view a property in-person?

If you are not required to self-isolate, you can go and view a property in-person, however, guidance continues to recommend virtual viewings where possible.

Viewing the property can be an important step in the house buying process, but it’s important to keep yourself safe.

Make sure to follow good hygiene practices, wash your hands regularly by sanitising and cleaning common contact zones, wear a face covering when possible and keep your distance from others.

Do I have to wear a face covering?

Whilst wearing a face covering is no longer mandatory, it’s advised to wear one to protect yourself and others.

The homeowner may request you wear a mask whilst looking round their property. So, you should look to accommodate their wishes whilst you are in their home.

Can I ask people viewing my home to wear a face covering?

If you would like people coming to view your property to wear a face covering, it’s important to let your estate agent know.

Putting a cap on the number of people allowed to view your property at any one time may also be a good idea to help keep everyone safe.

What if I have to self-isolate?

Buyers and sellers may experience delays due to self-isolation. Whilst this may be irritating, it’s important to continue to follow the rules.

- Get a test if you have symptoms.

- Isolate if you have a positive test or have been in contact with someone who has tested positive.

- Quarantine if you are returning from red or amber list countries.

Speak to a solicitor about making contractual provisions in case the worst happens. This enables the process to continue whilst you are isolating.

Want to know how we’re helping to keep you safe? Speak to one of our team members today.

The paint colours that could decrease the value of your home

Smartening up a room is a great idea to attract prospective buyers, but certain paint colours could put a negative effect on the value of your home, potentially decreasing its value.

The use of trendy colours can date a property and be costly to update. So, what are the key colours that experts would suggest avoiding?

Dark brown

Darker paints can produce a bold and rich feeling, however, when this comes into contact with wooden furniture, there's the possibility that this will create an odd and jarring look for the room.

Citrus green

Whilst a bold contrast might suit your own tastes, there's a high chance that viewers will struggle to visualise the space as their own.

Bright yellow 

Despite its positive connotations, overuse of yellow can be overwhelming, especially where used heavily in a small space.

Bold black

This colour often comes across as daring, dramatic, and striking.

While it can lift a wall in an instant, research suggests it can make a front door appear uninviting.

Instead, a medium to dark grey with a white trim would give the same powerful impact without being overpowering.

Have you had a recent valuation of your home? If you've recently renovated, you could see high returns from your home, contact us today.

Reasons to sell right now

From apartments to family homes, the average asking price of a property has risen to record levels around every region of the UK.

Whilst some people will choose to wait until the 2022 market has officially started, we have four reasons why it's the ideal time to ready your home for your new year sale right now.

Your home will be in front of a record number of potential buyers

The amount of people looking to relocate continues to outweigh the number of homes available for sale.

Furthermore, it's an immensely competitive market following the last year of intense activity and interest, with Rightmove and Zoopla reporting that they see the highest visitor numbers in the days after Christmas year-on-year.

You could get a better price for your home

Asking prices have hit record heights in 2021, so if it's been a few years since you last learned your home's value, you could see far more than you ever expected.

The budget for your next home might have changed

Depending on your property priorities, you might find that your dream home is within reach, as location is no longer the most desirable characteristic and demand levels are influencing price points on the market.

Favourable mortgage interest rates

Mortgage interest rates continue to stay low, and lenders remain eager to propose loans in the competitive market, helping you to secure your next move that much faster.

Find out your home’s true value with us today by booking your market valuation.

Tenant demand is still high!

According to a recent survey of landlords, tenant demand is only increasing across 2021, with record heights seen in the third business quarter of this year.*

Seven in ten landlords (69%) have remarked on this development within the lettings sector. Of those, 36% believe the increase to be 'significant'.

The highest levels of confidence were present in the South West and South East, where 79% and 74% are seeing promising conditions for investors.

Key drivers behind the rise in tenant interest include factors relating to the pandemic, seasonal trends and the new wave of graduates starting new jobs or students beginning the academic year in rented accommodation.

Have you been considering expanding your portfolio?

Ahead of the new year, we'd urge you to consider your options as a landlord. For a profitable 2022, here are some items you should be taking the time to review:

1) What are your tenant screening processes?

Whilst the eviction ban has lifted, if there's one thing the last year has taught us, it's to prepare for every eventuality.

You need to have rigorous checks in place to secure the best financial future for yourself and your investments, so rather than go it alone, you could defer to an experienced lettings agent in your local area to help you locate reliable tenants.

2) Larger homes have seen the steepest rise in value, but regardless of your property type, it is worth having the rental value re-assessed so that you don't lose out on your rental income.

3) Are you safeguarded against any future losses?

If tenants can't or won't pay, rent guarantee insurance can offer you a lifeline when it comes to keeping up with your mortgage payments and outgoings in the meantime.

Do you need to speak with one of our trusted local agents? Visit our website today.

*Paragon Bank

Property market sees strongest January for 17 years

The red-hot property market of 2021 looks set to continue into 2022 after statistics show this January has been the strongest in the property market since 2005.

Statistics from Nationwide have shown annual house price growth has risen by 11.2%, taking the average value of a property in the UK to £255,556 after the sixth consecutive month of monthly increases.

December 2021 to January 2022 saw an increase of 0.8% increase month on month, further demonstrating the continual price growth.

The stamp duty holiday scheme was a major driving force behind the statistics we are currently seeing, with property demand and high mortgage approval rates also playing their part.

With stock levels in the property market down after the rush of making the stamp duty deadline last September, this has led to buyers sparking a bidding war for properties, driving property prices in the process.

Not only are property prices increasing, but property transactions throughout 2021 also reached the highest since 2007.

With the current market conditions suiting those wanting to sell, and Spring often being seen as the best time to sell a property, now is the time to act.

Value your property this February, contact us for a consultation.

2022's minimalism fashion trends

Minimalism is more than just a form of decoration; it's a way of life.

What is the definition of a minimalist home?

Minimalism usually entails employing the bare minimum of items to create a clean and uncluttered environment.

A minimalist home is usually airy, neutral, and straightforward.

You should commit to modifying both your environment and your thinking if you want to build a minimalist home.

Here are four recommendations on how to construct a minimalist home to help you get on board with the minimalist trend and start living a simpler life.

1. Clear out the clutter

Minimalism is based on the principle that less is more. One of the most important ideas is to have fewer possessions and less clutter.

However, minimalism is more than just getting rid of items. It's all about having objects in your home that serve a purpose, whether that purpose is emotional, visually pleasing, or practical.

2. Use wall colours that are bright and neutral

A minimalist home makes the most of available space.

Paint the walls in light, neutral tones to make your home appear bright and large. This can give your property a more natural, relaxing appearance.

3. Opt for bold furniture.

Be daring if you want to design a minimalist home.

Choose furniture that is large and solid in colour, such as orange, brown, green, or navy.

If you don't want to spend a lot of money on new furniture, consider repurposing what you currently have. You may repaint old furniture or upcycle things at a low cost.

Stick to having a few larger pieces around your home – such as artwork or mirrors – rather than a bunch of little decorations to keep your home clutter-free.

4. Buy with intention

Everything in your home, both now and in the future, should serve a function. Buying with intention is the key to keeping your home modest.

Consider the following factors before making a purchase:

Is it a good match for your current decor?

Will it be able to find a home?

Is it made of the same or similar materials as the rest of your home's furnishings?

What will be the function of this item? Is it functional, aesthetic, or emotional?

Make it a rule not to buy anything unless you know the answers to these questions.

Are you considering going minimalist before selling your home?

When it comes to house staging for a sale, going for a minimalist design is one of the finest choices you can make.

There are fewer distractions when you have less stuff. Buyers are more likely to see themselves living in your home when there are fewer distractions.

Our professionals are here to assist you in selling your home as quickly as possible.

Speak to us today to schedule a consultation with one of our professionals.

We can assist you in finding the ideal tenant

You've put your savings into a property, or you've inherited one, and now you'd like to rent it out.

Of course, you want to attract and select the best tenants - people who will take care of the property, pay the rent, and leave you with little to do.

But where do you look for suitable tenants?

Is there anything you could do to make the tenancy as painless as possible, allowing you to get on with your life?

1. Delegate viewings to your agent.

Use your lettings agency to handle viewings unless you have prior experience.

In our situation, we have a lot of experience in the industry and will have a gut sense about the people who walk through the door.

This, together with your brief, ensures that we are always prepared to 'vet' potential tenants.

Have faith in your agent. If they're anything like us, they'll be aware of the type of tenant you're looking for and will make sure that any viewing requests are in line with your requirements.

2. Work as a property matchmaker

If you're searching for someone to live in your home who is as nice and tidy as you are, it's a good idea to have it photographed in that state, even if it's minimalist.

You'll be more likely to find the ideal tenant who wants to live that way, and they'll be aware of the expectations you establish from the outset.

When the images are taken, make sure your rooms are decorated or arranged suitably.

3. Compile a shortlist

It's easier to weed out undesirable tenants if you and your lettings agency ask a list of questions you've already prepared.

Whether you're asking or we're asking, the responses will assist you in making a decision.

Consider the responses you'll need to hear and tailor your inquiries accordingly.

4. Conduct thorough background checks.

Viewings have been completed, and you've identified some potential tenants. Bingo. But hold on a second. Now is the moment to complete those crucial checks.

Even if you're letting to a friend, it's critical to do this part correctly.

This is where we can help you the most.

We'll do all of the legwork for you and recommend the people we think are the best fit for your property.

Please contact us if you require assistance in leasing your property.

We'll gladly assist you in marketing your property, finding a tenant, and completing any necessary inspections.

Spring Preparation Checklist for Your Home

You’re longing for the first warm breeze.

As spring approaches, you may be ready for a deep clean. So, how can you prepare your home for the longer days and milder nights?

Here’s a simple checklist to get you started.

Extract your vases

Fresh flowers are such a treat, and now is an excellent time to bring them back into your house.

Give your vases a thorough clean and replace any that seem worn.

Store away your winter footwear

Clean your winter shoes, then pack the toes gently with newspaper to keep them in shape.

Don't discard shoe boxes after purchase; they make wonderful storage containers.

Stack your winter shoes and boots in the back or top of your closet and bring your summer shoes and boots forward.

Clean doors and windows

You will want to make the most of the spring light, so be sure to clean your windows to create an airier feel in your home.

Cleaning your door frames is also a simple way to brighten up your home’s interior.

Get your garden ready

As we head further into spring, it might be time to bring out the garden furniture.

Tidy away any plants which have caught the winter frost.

Clear any remaining winter debris – including build-up in the gutters – and tackle any essential repairs before you get distracted by weeding and mowing the lawn.

Keeping your home in tip-top condition is also a good idea if you intend to sell soon.

Not only will it be ready for a professional photoshoot, but you’ll also make a great first impression on your viewers too.

Are you ready for a fresh start? Just give us a call on today for expert advice about prepping your home for its market debut.