The Latest from Burnett's

The Latest from Burnett's


Welcome to our February newsletter. 


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.



Help-to-buy extension has been confirmed

The deadline for the current help-to-buy scheme is set to be extended by a further month – taking it to the end of March – in order to take into account delays to the sector caused by the pandemic.
 
Aimed at first-time buyers, it was during July 2020 that the practical completion deadline was initially extended from the end of December to February 28th this year.
 
This came down to matters regarding COVID-19 and how the current climate has drastically affected the property market as a whole, whereby the government were asked to rethink the date in order to benefit those looking to step onto the property ladder and move into a new build home.

At this point in time, practical completion can be done up until March 31st, however, that stands as the final deadline for legal completion.
 
The only exemption is where Homes England has previously granted extension to legal completion regarding those homes reserved before June 30th 2020, and who now have until 31st May.

Statistics that were officially published last year indicate that 278,639 new homes were bought on a help-to-buy scheme between April 2013 and June 2020.*

 
If you require further guidance or support, please don't hesitate to contact a member of our team today.
 

*GOV.UK
 
 



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

With the number of vaccine jabs administered in the UK now over 10 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
 



How to conduct property viewings safely in lockdown

Since the first lockdown last March, the housing market has managed to successfully adapt to the changes being made and evolve to offer homeowners safer ways to buy or sell.
 
From face coverings to dealing with the possibility of cancellations, viewings during the pandemic will present many new challenges, but we're here to help you navigate each and every step, meaning that we can ultimately safeguard the wellbeing and health of all involved parties.


View virtually, where possible

The safest way to view any property during the pandemic is to do so from the comfort of your own home.
 
Many agents have turned to the latest technology during these uncertain times, allowing their listings to be viewed at every angle, so it is worth exploring your options online to narrow down your search.
 
By using virtual video tours or FaceTime sessions, prospective buyers can see a 360-degree shot of every room before deciding whether they're interested in proceeding with an in-person viewing or not.
 

Be flexible where you can

In these testing times, there are many things that can throw a spanner in the works.
 
As a result of this, it’s worth preparing for any cancellations that could occur due to rising infection rates.
  
It’s also worth noting that if you have symptoms of COVID-19, you must postpone a viewing and self-isolate in accordance with the government guidelines.


Adhere to safety practices

So that we may continue meeting your property needs, it's essential that everyone takes responsibility in ensuring that the latest guidelines are followed to minimise risk and spread. Some of these include:

- Having no more than two households inside a property at one time

- Making sure that masks are worn at all times

- Avoiding contact with doors and surfaces, sterilising before and after viewings where unavoidable

- Keeping at a two-metre distance

- Washing hands before, during and after the viewing

If you’re looking to move and would like to know more about our current buying or selling processes, get in touch. 
 
 



Decorating mistakes that could stop your home from selling

With the property market seeing a lot of demand, sellers need to present their homes in the best possible light to beat the competition.

These common mistakes could mean that your home receives less interest and fewer offers, so it's worth your time and consideration to rectify the following:

Misplaced curtains

Curtains are a really effective way to keep your house warm, frame your windows and add a splash of colour or texture to any room.
 
However, the positioning of curtains can impact the look and feel of the living space in a negative way.
 
Whilst you might assume that they should be hung just above the window, this actually makes the area feel smaller than it is, so it's advisable to emphasise the height of the room by fixing them as high as possible.
 

Open wardrobes

These can look great in pictures and act as a really beneficial feature to your property, however, they can soon appear untidy or ruin the room's aesthetics.
 
It’s important to remember that for open wardrobes to look good, a minimalistic layout is necessary.
 
This can often be unpractical, especially if you're still living in the property, but try to create clear spaces to avoid deterring buyers and devaluing your home.
 

Overkill on florals

Whilst the 80s trend of floral patterns could be making a comeback, it’s important to not get too drawn into trends.
 
Going for strong design elements is a way to express your own character on your home, but you run the risk of putting buyers off by using overly decorative styles that aren't suited to every person who comes across your home.
 
If you do decide to opt for patterns, use them as an accent rather than for every wall and piece of furniture, as this will add longevity to the design.
 

Buying furniture that is too big for the room

Sometimes when shopping for new furniture, we can be completely drawn to a certain item, regardless of whether it works for the space we have.
 
However, it’s vital that you try to avoid any purchases that don't make sense for your home, if you're planning to move in the next few months.
 
A room that is too cluttered could make it seem much smaller and takes away crucial space, which is becoming increasingly important to the nation's homebuyers.
 

If you’re thinking about selling your home, start the process today by booking a valuation with us.