What's happening this month?

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

 

Market activity remains high despite stamp duty deadline

 

Initially announced in 2020, the stamp duty holiday was intended to aid homeowners through the buying process during the pandemic.

 

As expected, many took this opportunity to upgrade to their dream home or purchase their next investment, as savings of up to £15,000 were up for grabs.

 

Although it was thought that activity would begin to peter out at the end of last year, that hasn't been the case as the market is still seeing healthy levels of interest and activity.

 

As of mid-January, there were around 613,000 properties at 'sale agreed', waiting for legal completion ahead of the stamp duty holiday deadline on March 31st.*

 

Amongst these, it is believed that 100,000 may not complete in time to secure stamp duty savings.

However, buyers and sellers alike appear mostly unfazed and are continuing to buy and sell regardless of the deadline, which may be as a result of the increasing availability of mortgage products with 10% deposits.

 

According to Rightmove, those looking to sell in January were also pricing their properties competitively, allowing for quicker sales.

 

One possible explanation for this is that property priorities have changed in the past 12 months due to sellers needing more space and falling out of love with their current home, making their need to move more urgent.

Similarly, buyer activity has continued to surge, with market levels exceeding that of January 2020.

  

During a 10-day period in January, there was a reported 12% increase in estate agency enquiries and a 9% increase on sales agreed from 2020.

 

Combined with the fact that Rightmove are seeing ever-increasing website visit numbers, which in January were 33% higher than last year, these statistics give homeowners and buyers a promising opportunity in 2021.

Rightmove’s director of Property Data, Tim Bannister, suggests: “As we entered the new year and a new lockdown, the housing market remains open but is focused on the imminent end of the stamp duty holiday and on the challenges of the pandemic.

 

These major influences on mover behaviour are clouding the 2021 outlook, but Rightmove’s early January market-leading indicators of buyer demand and the number of actual sales being agreed are looking robust, showing that there are many compelling reasons other than the stamp duty savings to make buyers enter the market in 2021.”

If you are looking to upgrade your home this February, our team of professional agents are here to help.

 

As your trusted agent, we specialise in local knowledge and attention to detail when valuing your property. For more information on what we can do for you, contact us.



*Property Reporter 

 

How to decorate your rented home without making permanent changes

 

When decorating a rented property, there are many things you must bear in mind when making any dramatic changes, including getting the landlord’s permission.

However, there are plenty of ways to add personality to the property without risking your deposit, including:

 

Layering up

Creating layers in a room is a great way to allow a home to feel lived in.

 

By simply adding soft furnishings like cushions, blankets, curtains and rugs, you could make your rental feel a lot more like home.

 

If you’re unsure where to start, find a major furnishing that catches your eye – such as a nice rug – and build from there using similar fabrics and colours.

 

Investing in indoor plants

Houseplants are a great way to brighten up a room.

 

These are often inexpensive and require minimal to no effort.

 

Even if you lack a green thumb, there are plenty of options such as using artificial plants that will require far less work to maintain!

 

Letting loose on lighting

If your rooms are lacking in natural light, opting for a well-positioned lamp can flood the area with some much needed brightness.

 

Light fixtures can be practical and stylish, with many energy-saving options available, such as LEDs to brighten your home and reduce the impact on your wallet and energy consumption.

 

With many types of lighting available, it’s important you spend some time comparing to find the right “glow” for your home.

 

Hanging artwork without the need for nails

Having a home filled with personal photos on the walls is a great way to set the right atmosphere in your rental.

 

By using damage-free picture hanging strips, which can be found in most DIY stores, you can avoid losing your deposit due to holes in the paintwork.

Making the most out of your space

Most of us wish we had more space in our house to fill with our personal belongings, so why not create it by investing in multifunctional furniture for your rooms?

 

Not only are these practical but many options are also stylish, meaning you don’t have to compromise on the aesthetics of your home.

 

From the garden to the bedroom, there are many ways to save space and open up a room to have more purpose, such as creating a home office environment.

For any advice on the services we offer for landlords and tenants, get in touch today. 

 

 

 

What do tenants really want during the pandemic?

 

The latest data from Zoopla has revealed the most common search terms from tenants between July and September 2020, with the findings showing a shift in attitudes as more people look for places they consider to be 'pandemic proof'.

 

Last year saw large disruption to our daily lives following the introduction of new tier systems and multiple lockdowns, forcing people to spend more time indoors and re-evaluate their list of property non-negotiables.

 

Garden

Zoopla found that being able to have a garden was on the top of the list as the most desirable feature to have in a rental home.

 

Not only has this been popular across the lettings market, but a recent study also revealed that the price of homes with gardens has hit a four-year high.

 

Parking and a garage

In close second was enough garage space, with the main purposes being for parking over extended lockdown periods and for an additional room to convert into a home office or gym zone.

 

Balcony

Balconies were another feature that ranked highly for tenants, specifically in London, where gardens are not always an option.

 

Pet-friendly

Rental properties that are pet-friendly ranked in fifth, as the word ‘pet’ was one of the most used keywords.

 

Whilst as few as 7% of landlords advertise their homes as being suitable for household pets, this could change in the near future, as a new agreement has been introduced that prohibits landlords from automatically banning pets.

Last year saw a 20% increase in demand compared to the year before, with a variety of factors contributing to this growth.

 

If you want further information on how to make your rental property more attractive to tenants, or you'd like help finding your next rental, then please contact our team.