The Latest from Burnett's

Supply and demand outstrips Brexit concern

With the Brexit date being pushed back once more, it would appear that supply and demand for property is now the driving factor in the market, with Brexit taking the back seat in terms of market-driving factors.

In a recent survey from property investment company SevenCapital, nearly 69.5% of investors continued to invest in the United Kingdom despite the spectre of Brexit. Indeed, this confidence in the United Kingdom property market is echoed by international investors, with nearly 95% of the Hong Kong respondents believing that Brexit isn’t a critical factor in their investment decision.

SevenCapital points out that the Sterling has risen in value – a better indicator of fiscal stability – and this outweighs any potential impact that Brexit may have levied upon the market. With the average price of properties increasing last month by over 1% or £3,347, according to Rightmove, then house prices are also reflecting this upturn in the market.

In terms of the rental market, rental yields have also grown in recent months with the best performing areas in Birmingham and Manchester seeing yields driven up as much as 10%. With new changes in the rental sector such as the Tenant Fee Ban and Section 21 changes, tenants and potential tenants should be feeling more empowered in terms of their rights which should encourage more renters into the market.

Despite the headlines that Brexit has provided of late, it is evident that other factors are driving the property market, both sales and lettings. A key point to note is the lack of housing supply and increased demand of late with this duality keeping the market buoyant, despite any political uncertainties. With first-time buyers now at record levels and keen to buy, there is a whole new swathe of potential buyers entering the market which is creating an extremely competitive sales environment.

One in six parents remortgaging for their children

With interest rates remaining incredibly low and competition amongst lenders producing some of the most favourable finance options ever seen, many are remortgaging in order to benefit from cost savings. Rather than simply easing the financial burden, however, recent research has shown that many parents are remortgaging in order to gift the extra money to their children.

Price comparison website MoneySuperMarket has found that one in six parents who remortgage their home then gift some of that extra cash to their children, with the average financial contribution standing at £9,050 per child and nearly 10% of parents giving over £20,000.

More than a third of the children who receive the financial gift utilise it as a deposit for a property, whilst others use it to go travelling (11%), buy a new car (11%) or pay for ‘everyday essentials’ (9%).
Rachel Wait, consumer affairs spokesperson at MoneySuperMarket, commented: “Our research found that 15% of parents released equity when they remortgaged to help their children. However, you’ll only be able to do this if your property has gone up in value and you’ll need to be sure you can afford to keep up with your new repayments.

“It’s also important to factor in the costs associated with remortgaging, such as arrangement fees which can be as much as £2,000, as well as legal, admin and valuation fees. Try to be realistic – only release equity to help your children with life events if you can really afford to do so.

“Also keep in mind that because a mortgage takes so long to pay back, remortgaging may not be the right option for everyone – there may be cheaper ways of getting a cash sum. It’s important to look at all options and shop around before making a decision.”

How to add value to a property

When we decorate our properties, it is often driven by personal preferences in order to make a space fit into our own idea of what is stylish. However, if you are not just looking to decorate a space but to maximise the potential value of your property, then read our guide which explores the best ways to add worth to a home.

Solve existing issues
If you’re thinking of adding value to your property then don’t jump straight to improving the aesthetic of particular rooms in order to gain the much-lauded “wow factor”; instead make sure that your property is structurally sound. It may have less cosmetic impact, but a house with a leaking roof, subsidence or damp will be severely hindered in achieving a strong asking price due to the perceived costs and effort in fixing the issues. Take the time to assess your property and ensure there are no major defects, and this will give a solid foundation for your property to achieve the best price on the market as buyers will not be scared away by problems, nor will they be able to barter the price down.

Central issue
Take a look at the central heating system in your house - does it look modern and fit-for-purpose or is it on its last legs? If your central heating isn’t quite up to scratch, then replacing this is a sure-fire way to add value to your property as it is another issue which has the potential to put-off potential buyers. Although the initial outlay for the central heating refit may seem high, you should more than recover these costs when selling the property as it is another key point which will assure buyers that your property is well-cared for.

Extra space
Adding additional living space will always attract potential buyers as this offers them versatility in the way in which they will use the property; however, before you convert that loft or garage then we would recommend doing a little research. A converted loft can add thousands to the asking price of your property, so it is certainly something to consider – before you undertake this do take a look at similar properties in your area and do some investigation as to what the top selling price has been lately. There will be a ceiling price to the properties in your area, and therefore before you add a room, make sure that there is the potential to recoup the cost in the asking price of the property.

Decoration
If you’re looking to add value to your property without any major outlay, then picking up the paintbrush could be the answer. Freshen up any paint that has seen better days around the house and do the same in the bathroom, checking on any sealants to ensure they are crisp and clean. Clean up a few simple defects and potential buyers will see your property in an entirely different light, willing to pay more for a home that they perceive to be in excellent condition. This should extend to the frontage of your home, so ensure lawns are mowed and outside areas look cared for.

Kitchens and bathrooms
That old saying that homes are sold due to their kitchens and bathrooms is true, to an extent. Having a modern kitchen and bathroom will add considerable value to your property, as well as generating much more interest from potential buyers. If you don’t want to invest in a brand-new kitchen and bathroom, then update your current spaces in order to make them more sellable. Kitchen cabinets can be painted to modernise them, and changing the door handles to something more sleek will also help to create the feeling of a newer space in the kitchen. In the bathroom, refresh the paint on the walls, keeping it as neutral as possible, and ensure that the space is bright and airy – add mirrors to make the space feel bigger, and use accessories to add colour into the space.

The best home design ideas for 2019

Whether you want to add value to your home in preparation for sale or you just want to make your property a more appealing place to live, redecorating and incorporating the latest trends is a worthwhile endeavour. Take a look through some of our picks of the best home design ideas emerging through 2019…

Embrace the industrial

One of the key trends throughout the year so far has been the embracing of industrial materials in the home environment. Typically, steel beams in the ceiling space would be covered, with their utility overshadowing their relative beauty. In line with new trends, these beams would be left exposed; their harsh texture a welcome juxtaposition to the surrounding soft surfaces in the home. Similarly, materials such as concrete are being embraced this year; simply polished to a high shine and then left exposed for a striking floor covering. Rather than exposing interior workings as a sign of minimalism or modernism, this newest trend is about adding new textures and colours into your home.

Bring the outdoors, indoors

In these modern days, we are constantly bombarded with new studies and surveys showing us the benefits of spending more time outdoors, and whilst these are of course to be heralded, it can be difficult to get the right amount of time alfresco. This desire for more outdoor space is being met head-on by designers who are incorporating more of the outdoors, indoors. The inclusion of bi-folding doors which concertina into themselves are being incorporated into modern homes in order to bridge this gap, and the additions of conservatories or orangeries are also ways to flood your home with light from the outdoors. A non-budget-busting method for incorporating more of the outdoors into your home’s design aesthetic would be to include more plants around your home and at different levels – on the floor, on tables or in very on-trend macramé hanging pots.

Let there be lights

Nobody starts out their interior design plans looking to create dark interiors with limited light; we all like natural light-sources to balance a room’s feel. Natural light and the inclusion thereof is a recurring theme no matter what year it is, but balancing the natural light with artificial light is high on the trend list for 2019. Hidden lighting and light-sources are a key inclination this year; with recessed lights, under stair lights and uplighters all proving very popular.

Au naturale

In years gone by, interior trends have revolved around overly designed rooms with “feature walls” and striking pieces, yet this year the natural finish is having something of a revival. The use of materials such as clay plaster offer a more interesting and textured finish, with no need to be covered once applied which creates an organic and natural feel to an interior.

Storage woes

A major concern for interior design this year is that of storage and how to incorporate the most innovative storage space into the home. Kitchens are key in this trend – with the inclusion of central islands adding storage, high cupboards drawing the eye further up the walls to create the feel of taller ceilings and the resurgence of pantries to hide away ingredients. Around the home, under stair storage is a massive trend as this space is often wasted, and similarly storage underneath baths is increasingly being utilised.

Minimum qualifications and code of practice a step closer

Estate agents have found out how they will be policed as the final report from the Regulation of Property Agents (ROPA) working group is made public.

Click here to read Minimum qualifications and code of practice a step closer.

Apps To Help You With Anxiety and Stress

Anxiety is something that we can all experience at times, however in the midst of the coronavirus there will likely be more of us than ever who are suffering with anxiety. There are plenty of techniques to help you manage levels of anxiety, with one of the key innovations being the development of apps, we have found some of the best apps to help you cope with the current situation and beyond.

1) Stress & Anxiety Companion
Recommended by the NHS, this application helps you to handle stress and anxiety on the go through the use of breathing exercises, relaxing music and games designed to calm the mind.

2) Calmer You
Calmer You is a new app developed by Headspace’s former head of Research. The app brings together a range of tools from Cognitive Behavioural Therapy through to workouts, all with the aim to find a personalised approach that helps soothe your anxiety.

3) ReachOut Breathe
Focusing specifically on breathing techniques, this app guides you through your breathing telling you when to inhale and exhale in order to counter some of the effects of anxiety. You can customise the techniques which work best for you and the user interface can also measure your heart rate.

4) Self-Help For Anxiety Management (SAM)
This is an anxiety-soothing app with a difference; it encourages users to think about situations which cause them anxiety and how they react. Through identifying different types of anxiety and triggers, a toolkit is developed to help you cope better – one of the key features of this application is the multi-faceted approach which it takes in dealing with your symptoms.

5) Mindshift
Perfect for the current situation as this application can focus on general worry, social anxiety, perfectionism, panic, phobia or another kind of anxiety. For each specific concern, the application can create tailored coping plans which should aid you in finding an equilibrium.

6) MoodMission
If you are looking for a more light-hearted manner in which to find your perfect coping method, then sample MoodMission. This application uses games and app rewards designed to motivate you to improve your mental fortitude.

7) Sanvello
During the Coronavirus this usually paid-for app has been made free of charge due to the demand on downloads; tracking your exercise, meals, family time and other habits it can pinpoint your bouts of anxiety.

Chilled in a Field

Grown from the '90's London party scene we're a small, independent Sussex festival for grown up party people and their kids.

Click here to read Chilled in a Field .

Mind, Body & Spirit Fair

Come along and enjoy some de-stressing and holistic treatments and alternative therapies.

Click here to read Mind, Body & Spirit Fair.

Ridgefest 2020

Live music, delicious street food and of course, your favourite English Sparkling Wine! Come down.

Click here to read Ridgefest 2020.

A Midsummer Night's Dream

The Three Inch Fools - fresh out of lockdown - take to the road with only three actors, far too many musical instruments, one almighty play!

Click here to read A Midsummer Night's Dream.

Free networking event in Matlock

Anyone who likes what they do. Instead of getting the Monday morning blues you get the Monday morning highs.

Click here to read Free networking event in Matlock.

Going Barefoot with your horse

This half day workshop looks at how to transition your horse from shod to barefoot as well as ways to support the barefoot horse.

Click here to read Going Barefoot with your horse.

2020: A year where everything changed

As we all make preparations for the year ahead, we've brought you a month-by-month recap of 2020's property market highs and lows.

January – this time last year, we started with an incredible boost to market activity, with the 'Boris bounce' leading to more new listings and sales being agreed following a period of political uncertainty and concern over Brexit in 2019.

February – by the second month, news of the pandemic made its way across Europe; even though very few of us could have predicted just how much of an impact it would have at this stage!

Meanwhile, the largest ever private real estate transaction took place, with IQ student accommodation being sold for £4.7bn.

March – with the pandemic set to massively impact companies, the government froze business rates for retail, leisure and hospitality tenants.

However, the inevitable happened towards the end of the month, as the entirety of the UK were plunged into a complete lockdown.

April – the property market came to a standstill as the sector was forced to close for the foreseeable future.

Firms across the country tried to battle the pandemic’s financial effect using the furlough schemes and support available.

As a country, we also started embracing the benefits of remote working, developing new skills and spending time on DIY projects around the house.

May – in May, the property market could finally return to some degree of normality.

This involved the sector reopening, including the resumption of sales and lettings activity to get the country safely moving again.

June – unfortunately, June saw the massive real estate company – Intu – enter into administration, putting many of the UK’s shopping centres at risk.

We also saw the alert level downgrade from four to three, after a steady decrease in cases.

For the property market, we saw a steady and healthy return of pre-pandemic activity; especially for the lettings market with a rental bounce.

July – a stamp duty holiday was announced, which would cut the rate to 0% for all properties under £500k until March 2021.

The Government also launched a new drive that promised the biggest planning overhaul in decades, including a revamp to permitted development rights.

We also saw an extraordinary fundraising effort for the NHS, with 100-year-old Captain Tom Moore raising over £33m, as well as receiving a knighthood from the Queen.

August – prime property showed a remarkable recovery, as it reports the biggest rise in deals compared to other areas since the end of the lockdown.

The eat-out-to-help-out scheme went live, providing the hospitality sector with a much-needed boost.

September – as the number of cases rapidly rose, the UK was warned that a second wave of the virus had arrived.

As a result of this, the Government imposed new restrictions on the nation.

Many were concerned that this would hamper property market recovery, which turned out not to be the case, as sales agreed and tenant enquiries went from strength-to-strength.

October – demand continued to rise, spurred on by the possibility of stamp duty savings.

Towards the end of October, Boris Johnson announced that England would be placed in another lockdown.

Thankfully, the property market would continue to operate throughout this period, so as to avoid the impact the first lockdown had on the sector.

November – the market remained resilient despite the second lockdown, with house prices increasing by 5.8%.

We also saw mortgage approvals reach new record-breaking heights, according to Rightmove, with similar figures seen in 2007.

At the end of the month, it was announced that regions in England would be placed in different tiers based on case totals.

December – the last month of 2020 started with great news, with a COVID-19 vaccine being rolled out to those who were most vulnerable first.

This news boosted the whole of the economy, including the property market, allowing people to finally start seeing life as back to normal in the future.

If you have any questions, or you are looking to buy or sell in 2021, get in touch with our team.

Surge in homeowners keen to move this year

COVID-19 has caused a major shift within the property market regarding buyers’ and sellers’ attitudes.

According to a recent survey of 1,000 homeowners, as many as 26% are considering moving within the next year.*

So, what are the reasons for homeowners wanting to move?

After a year of restrictions and confinement, we've all had more time to reflect on the way we live and use our homes.

Considering that 55% of respondents directly linked their reason for moving to COVID-19, we can see just how extensive the situation is, with many households finding that their property no longer fits their lifestyle or needs.

As well as desiring a bigger garden space, other important factors include finding somewhere with:

Natural light (15.8%): introducing natural light into your home reduces stress and anxiety, boosts immune systems and increases happiness through the production of serotonin – the feel-good hormone.

Whilst these are just some of the core benefits, they are the most relative as to why homeowners are seeking homes with plenty of natural light.

A home office (13%): working from home has given many of us the opportunity to see remote working as a long-term norm.

By working at home, families are able to share the responsibility of childcare and spend more time together that would have otherwise been spent separate.

A home gym (11.9%): the initial lockdown caused a rift in the country's health and wellbeing, pushing many to implement home workout measures in order to stay fit, active and fulfilled.

The reality is that a lot of people won’t feel comfortable returning to their regular routines for some time, minimising possibly high risk locations such as gyms for a safer alternative, choosing to exercise from home instead.

Chief Executive of IDSystems concluded that: “2020 has been a year of frustration and uncertainty for homeowners, with many now feeling the need to make big changes, either by moving out of the city or maximising their existing spaces.

Through the challenges and restrictions people have faced, it is clear that British homeowners are not afraid to make big decisions to ensure their homes are providing the best possible environment for work, study and relaxation.”

If you're feeling fed up and in need of a change, we'd invite you to browse our range of stunning local properties. Contact us today for more information.

*IDSystems

The increased demand for rural and coastal properties explained

Since the initial lockdown in March, the demand for rural properties has increased massively due to changing property priorities and working habits.

Rightmove’s yearly review for 2020 shows that both coastal and rural areas were favoured by buyers as many moved away from central locations.

The top 10 best selling areas in the UK last year were dominated by idyllic locations, such as Devon, Surrey and Somerset.

Similarly, properties with larger living areas, dining rooms and gardens all seemed to be the most popular on the market.

With many expecting to be working from home for a while, or even swapping to remote working on a permanent basis, the significance of a central location is no longer as prevalent for buyers and tenants.

According to Rightmove, out of the top ten best selling areas of 2020, seven of those had a population of 10,000 or less, showing that life away from the hustle and bustle of the city was preferred by many during the pandemic.

Specific areas that have seen impressive growth since the outbreak are Wiltshire, Hampshire, Stockbridge, Suffolk and Hertfordshire.

Amongst these, Hertfordshire was the most popular with a 75% increase in sales year-on-year, and no evidence of this slowing down.

Similarly, suburban areas in the north west have seen the biggest price growth this year, with prices rising from £184,299 to £213,706 on average.*

Rightmove’s director of property data, Tim Bannister, said: “this year we’ve seen an uplift in the number of home-movers escaping to the country and we think this trend will continue for now as people show their willingness to make significant life changes.

“The data highlights just how influential the unexpected events of this year have been in shaping the nation’s housing priorities, with many buyers determined to swap city streets for rural and coastal retreats.”

If you’re looking to prioritise green space in your next property we can help.

Contact us and one of our property professionals will help you turn your property dream into a reality.

*Property Industry Eye

Steps to beat the January blues

With another lockdown keeping us indoors, it is understandably a difficult time for many of us to find the motivation to plan ahead and commit to seeing through our resolutions for a healthier, happier and more productive 2021.

Given the freezing temperatures and lack of sunlight, January can be the least productive month for many of us, leading to a period of hibernation that can last until spring.

To help you overcome this, we want to focus on realistic and achievable ways you can have a more successful start to the year.

Try something new

It goes without saying that once we form comfortable habits or routines, it can be a challenge to push ourselves into trying something different.

Comfort zones are the worst for stalling development, so why not try taking up a new hobby or focus on achieving a goal?

It doesn’t have to be something wild like climbing Mount Everest, in fact, it could be as simple as baking a new cake each week to develop a skill.

Treat yourself

Life can sometimes feel as if it is going at 100mph, so it’s important to press pause and just be in the moment every once in a while.

Even something as simple as unwinding by having a warm bubble bath once a week can be the key to recharging your batteries and getting you back on track.

Explore your surroundings

Whilst you may not be able to meet up with friends, try not to let it affect your activity levels.

Staying cooped up inside will have a negative impact on your mental as well as physical health, so even if it's just for a 30-minute session, try and stretch your legs outside once a day.

If you'd normally be commuting to work in the mornings and evenings, use that time to take a break outside instead.

Start a new series with your loved ones

As we're all facing lockdown together, there's no better time to catch up on all of the great content available.

Pick something to bring the family closer and pace yourself with one or two episodes each week, if you're able to wait that long.

There’s really nothing better than getting cosy in blankets and looking forward to the next instalment, whether you're all watching from the same room or utilising Zoom from separate locations.

Set “stick-able” resolutions

Whilst it's commendable to set ourselves high goals for the new year – such as exercising every day of the week – you need to make sure those resolutions can be met.

If you overreach, you'll quickly burn out of motivation and fail to make any progress.

Rather than denying yourself time to simply do nothing (because that’s normal too), strip it back and aim for somewhere in the middle. That way, you’ll feel more fulfilled and see real change much faster, which will then incentivise you to keep going.

For additional help or support on living in lockdown, please refer to the NHS advice found from their website at nhs.uk/conditions/coronavirus-covid-19/

To make progress with your property plans this year, talk to our team.