The Latest from Burnett's

Welcome to our May 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.

12 cleaning tricks at the fraction of the cost!

From your oven to your bathroom, if you love to take pride in your home, you’ll want to know all the cleaning tricks and hacks to keep your home sparkling for a fraction of the cost.

Plenty of natural, cheap and quick cleaning tips from tin foil to vinegar and lemons can be used to save you time and money, making it even easier when you need to prepare your property for guests or even potential viewers who are interested in making an offer.

Cleaning tips for bathrooms

Tip number 1 

Clean your bath with a grapefruit!

Get rid of water marks or stains in your bathtub by cutting a grapefruit in half, sprinkle on some rock salt and give it a good scrub, then rinse.

Tip number 2

Removing limescale from your shower using vinegar.

If you’re looking for a more natural way to clean your home from top to bottom, vinegar is your new best friend!

Soak your shower head in a mixture of boiling water and vinegar to unclog any limescale easily.

Tip number 3

Use an old toothbrush for cleaning your bathroom.

Don’t throw away your old toothbrush as it can be very useful!

Give it a rinse in boiling water to get rid of any germs and use it to get into any nooks and crannies that your vacuum cleaner can’t reach. It’s especially handy for cleaning hard to reach areas like around the tap or drain.

Tip number 4

Clean your toilet stains with coke.

Get a grubby toilet back to sparkling white by pouring in a can of coke.

Let it sit in the bowl overnight, give it a good scrub with the brush and then flush the next morning for a new sparkling loo!

Tip number 5

Unclog drains with baking soda.

Pour down the drain one part baking soda followed by one part vinegar then cover with a wet cloth. 

The two elements will react with one another to clean your drain naturally. Wait five minutes and then run some hot water to rinse.

Cleaning tips for kitchens

Tip number 6

Clean your chopping board with lemon.

Our chopping boards get a lot of use from meat joints to fruit and vegetables, so it’s no wonder they end up looking a bit tired and worn.

Lemons are great to lift stains as well as removing any smells. Still not shifting? Then try sprinkling some baking soda and repeat.

Tip number 7

Pop a lemon in your fridge.

Cut a lemon in half and put one on the top shelf and one on the bottom to mask any strong smells in your fridge.

Tip number 8

Remove limescale from your iron.

Keep your iron working well by removing excess limescale from time to time. 

Simply heat up, unplug and let it cool. Fill with one part vinegar to one part water. Leave for an hour then empty and rinse.

Tip number 9

Use a pastry brush to clean crumbs out of your toaster.

Unplug your toaster and sweep those hard to reach crumbs and burnt bits with a pastry brush. This will help your toaster last longer.

Tip number 10

Clean your washing machine with vinegar.

Place the empty washing machine on a hot cycle with one cup of vinegar inside. This will help remove limescale and mildew, making the machine last longer and clean more efficiently, plus smell amazing! 

Tip number 11

Use a fabric softener sheet to stop your bin smelling.

There’s nothing more frustrating after you’ve emptied the bin than to find a lingering smell. Pop a fabric softener sheet into it for an instant air freshener.

Tip number 12

Clean your oven with tin foil.

Pop some oven cleaner or fairy liquid to the oven and scrub the fat and grime away!

For more information on maintaining your property, talk to us today.

A third of UK households predicted to move this year

As restrictions start to ease, almost a third of UK households are making plans to change their living arrangements, following their lockdown experiences.

According to a new national survey of around 2,000 households, 31% are planning to move house following repetitive lockdowns and remote-working experiences.

With only around 5% of households typically moving house each year, the increase is staggering.

Has lockdown got you feeling like you want a change of surroundings?

The following were the top three reasons people felt as important to them when relocating home:

- 29% good standard of living

- 26% hybrid working environment

- 23% road networks and connectivity

Hybrid working options and lifestyle changes were the two obvious key elements driving the change in buyers' and sellers' behaviour.

However, the recent stamp duty holiday and desire to take advantage of significant property price increases in 2021 has also influenced decision making.

What are you waiting for? Start your search today and take a look at our stunning range of properties below.

*Property Reporter

What do buyers and renters find essential in the current climate?

More than a quarter of UK homeowners and renters have claimed that their property priorities have changed since the COVID-19 outbreak.

Previously highly-sought after and high-value property features have dropped down the priority list for homebuyers and tenants, as they now seek different factors when looking for a property that meets their needs and lifestyles.

Easy commutes to work, proximity to local shops and restaurants, and local public transport links are no longer as desirable as they once were.

Instead, we have noticed a significant increase in those searching for more space, whereby those searching are willing to compromise on location or local amenities in return for larger bedrooms and a 'work from home' zone.

Having access to a private garden or nearby green space has also become one of the top preferences for homebuyers and renters, especially in light of reduced travel options this summer.

Are you looking to buy, sell, rent or let this year?

As leading agents within the local area, we're in the prime position to help you locate your next investment opportunity.

Mortgage lenders are still backing the property market!

Aside from the market boost provided by the extended stamp duty holiday, it's clear that the property market is seeing high levels of activity due to the continued low rates of borrowing for mortgages.

Since the market reopened in May 2020, mortgages fuelled 70% of property transactions in the UK.*

Whilst the stamp duty savings have been a tremendous help to many, the ability to secure finance at a much lower rate of interest than previously before has brought a massive boost to market sentiment.

Recent data showed that 270,785 of the 387,667 properties sold have seen the buyer backed by a mortgage, however, there are some regional differences.

- In London, 80% of all sales came from homebuyers with a mortgage

- For the East of England and the West Midlands, this accounted for 72% of sales

- In the South East and East Midlands it was 71%

- The South West had the most cash buyers, with just 64% buying via a mortgage

Some lenders around the UK have started tightening their belts with their lending criteria, potentially making it harder for those with a less secure financial background to be accepted.

But this isn’t likely to impact the ratio of mortgage-financed buyers in regard to those buying with cash.

The new mortgage guarantee scheme has also added incentive to more and more people enquiring about mortgages.

Encouraging lenders to offer 95% mortgages by taking on some of the risks involved, the government's scheme has proven successful so far, with over 78 fixed-rate 95% deals available right now, compared to five at the beginning of March.

If you would like more information, please get in touch today.

*Enness Global Mortgages