What's happening this month?

Is it still location, location, location?

Faced with the prospect of a lockdown-free summer, buyers are anxious to move quickly, resulting in record numbers paying over asking price to secure their dream property.

With leading experts predicting that the house buying frenzy is here to stay, is location still as key as it used to be for buyers?

In the space of just 18 months, we've seen homebuyers rush to the countryside and back to cities again, as they've swapped lifestyles and jobs to better suit their own needs post-lockdown.

However, while requirements have altered dramatically for some, the popularity of online searches for the perfect location shows that this remains high on the list of buyer priorities.

So, what stands out as the perfect place for today's buyers?

- Access to areas of green, open space or gardens has become an immediate priority for many homebuyers.

- Now lockdown is coming to an end, people want to be close to cafes, restaurants, leisure amenities and shops once more to make the most of their freedom.

- Being close to the office is also becoming important again, as people adopt a hybrid style of working. This has also brought demand for a suitable working space at home, as well as a fast and reliable broadband connection.

- Being in a good school catchment will always be a priority for families.

- Buyers are doing their research into future developments in the area, like new schools, hospitals, shopping facilities or public transport links, as they can dramatically affect future house prices.

Location is a key factor in driving up demand.

If you’re looking to find the perfect location or sell your property, get in touch today.

Stay informed with changes to the Right to Rent scheme

First introduced in 2016, right to rent checks have been a core part of the check in process for landlords and tenants.

What is the right to rent scheme?

Right to rent is a government policy, which requires landlords to check their tenants’ immigration status.

It also means they must refuse to let a property to anyone who can’t prove they have a right to rent.

What changes have been made?

Significant changes were made to right to rent checks in order to facilitate these over the course of the pandemic, such as with an online checking service and changes to accepted documents.

These digital processes are temporary measures only that are to be permitted until September, i.e. video checks or accepting scanned photos in lieu of in-person checks.

However, some concern has arisen due to the imminent deadlines for both the EU Settlement scheme and video checks, meaning some applications could be in limbo until further clarity is provided from the government.

For more guidance, please visit: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_

data/file/994998/Landlords_guide_to_right_to_rent_checks.pdf

Or for advice regarding right to rent checks and our lettings packages, contact us today.

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

Lettings market boom and what it means for landlords

The lettings market has had a record strong month, with reports of a decrease to the length of average void periods in most regions, as well as rising rents seen across the country.

In some parts, void periods have dropped by as much as 50% month-on-month, taking England's average from 22 to 16 days.*

How have rents changed for landlords?

After a year of uncertainty for landlords, with the eviction ban repeatedly extended, the news of rent growth in every region in June should signal a return of optimism for the market.

Certain areas saw an increase as high as 10%, whilst the average cost to rent a property in England now sits at £932.

In fact, average rents were higher this June than when compared to a pre-pandemic 2019.

Looking to take advantage of the increased rental demand? Here are our top tips on how to become a new landlord.

1) Understand your business

As with any new business venture, if you lay the right foundations, you have the potential to secure a comfortable financial future for yourself.

Most landlords only let one property, so it's important you know the local market and choose the best spot for your investment in terms of location, demand and opportunity.

2) Take the time to learn more about the legal requirements

There are a number of important regulations that a landlord must meet to protect their tenants, as well as themselves and their properties.

Taking the time to familiarise yourself with the sector will put you in good stead to build an established reputation letting in your area, which will ultimately help you to keep good tenants for longer.

3) Shop around for your buy-to-let mortgage

It’s important to find the right deal for you, which might mean considering a range of solutions before making a decision.

To get the best returns, you should speak with a trusted mortgage advisor who can point you in the right direction selecting your mortgage.

4) Decorate for a tenant, not for yourself

Just like when you're selling a property, you need to plan how to stage your rental property before listing it.

Whether you're wanting to let to families, students or working professionals, providing the right furnishings and neutral tones will create a blank canvas suited for future tenants interested in renting your property.

5) Who will be managing the day-to-day responsibilities?

This last step is what will really set your business in motion.

Choosing the right lettings agent is essential to protect your investments and safeguard your interests, as they'll be the liaison point for your tenants whilst overseeing all checks, changes and inspections.

To learn more about our property management service, contact us today.

*Property Reporter

Who’s most interested in your home’s value?

Have you ever used property sites to snoop on how much someone has paid for their home?

In a study by Zoopla, six out of ten Brits admitted to checking out how much someone has paid for their home, with the most popular people to snoop on being neighbours, friends and family.

Who are Brits most likely to snoop on?

- Neighbour 36%

- Friend 34%

- Family member 29%

- Someone they sold a house to 16%

- Colleague 11%

- Partner 8%

- Someone they dislike 6%

- In-laws 3%

- Ex-partner 3%

But, why are we so nosy about house prices?

Reasons for researching property prices can include: wanting to discover a property’s interior value (18%), the nostalgia of a previous home (12%) and wanting to improve your own property (10%).

However, one of the main reasons to look up the value of another person’s property is to get a better idea of how much your own home is worth.

If you’re curious about the value of your home, there’s no need to guess.

Source: Zoopla

Price gap widens for houses and flats

Prices for both houses and flats are continuing to increase following the Covid-19 pandemic.

According to Zoopla, family homes are the most popular choice, resulting in an 114% increase in demand and shortage of stock.

The search for space has meant home buyers are looking for larger properties, causing prices for homes to increase by 7.3%.

However, flat prices haven’t seen the same boom. This has caused the price gap between houses and flats to widen.

The number of property transactions taking place currently stands 22% higher than the average level in 2020. Coupled with house prices reaching a new high of £230,700 per property, this is 30% above the 2007 market peak.*

House prices are continuing to grow with current statistics, showing a 5.4% increase in June, compared to the same time last year.

This is more than double the year-on-year price growth recorded 12 months ago.

Why is this happening?

- Race for space

Being in lockdown for the last year has caused people to desperately search for more space. Larger living rooms and extra bedrooms are some of the main factors influencing potential buyers.

Flats don’t always have the extra space many people desire, leaving them with less demand than in previous years.

- Working from home

People are searching for properties that have a home office or a spare room that could easily be converted into one.

This has made houses more favourable over the last year, as a lot of flats simply don’t have the space or option to accommodate this.

- Access to green space

After a year of being stuck indoors, it’s unsurprising that many people are now wanting to spend more time in the garden; causing people to look for properties with more outdoor space.

Conservatories are a great way to link indoor and outdoor areas, proving popular for potential buyers.

Are you looking to sell your home? Speak to our property professionals today.

*Zoopla

How to keep your boiler running for longer

A broken boiler is the last thing you want as the weather starts to get colder this autumn.

If you’re facing boiler issues, this helpful guide is here to get you back on track with five of the most common issues and the best ways to fix them.

1. Kettling

Is your boiler making a strange bubbling noise? If the answer is yes, then you most likely have a build up of sludge, and should you live in an area with hard water, this can be a common problem that happens again and again.

Hard water has a high mineral content, which has a tendency to cause build-up in heating systems and waterpipes.

2. Leaking and dripping

Having buckets full of water that have been dripping out of your boiler for weeks is not ideal.

A broken internal component is the most likely cause behind a leaky boiler and can be caused by the pressure becoming too high.

3. No hot water

The last thing you want is a cold shower whilst you wait for your boiler to be fixed, so make sure you check your thermostat.

If your boiler pressure is normal and the thermostat is set correctly, then there could be an issue with an internal component in your boiler. Get an engineer to check this for you.

4. Low boiler pressure

Low boiler pressure can result in a number of problems, affecting the efficiency and effectiveness of your heating system.

This can make it difficult to keep your home warm as well as increasing your energy bills.

The best thing to do is check the gauge meter.

If the needle is below one, then you have low boiler pressure, which can be caused by a water leak. If there are no leaks to be found, then you may need to get your boiler re-pressured.

The manufacturers website will give you details of how to re-pressure your boiler.

5. The pilot light has gone out

The pilot light is the flame that lights gas provided by a main burner. The flame should remain permanently lit, as it is supplied by a gas pipe.

If a pilot light goes out, gas will still be released from the pipe, and this could be potentially dangerous. There should be a sensor in the pilot light tube that cuts the gas as soon as the flame goes out.

Check the boiler itself to see if there are any specific instructions as to how to turn on your pilot light.

As leading lettings agents in your area, we offer a range of services to support our landlords and tenants. Contact us today about our fully-managed package.

Will working from home be your new norm?

Last year, the number of adults who worked from home inevitably increased to 37% over lockdown.*

Despite many people agreeing that working from home makes them feel isolated, 85% of homeworking adults now favour a "hybrid" approach of both home and office working for the future.*

Whilst job adverts that included home working have increased dramatically to three times the amount seen last year.*

Are you currently working from home?

Here are our top tips on how you can create a healthy working environment.

1. Keep moving

When we work from home, we tend to be a lot less active than in an office environment.

Exercise is the key to staying in good health, so a lunchtime walk has many benefits and will keep you productive for the rest of the day.

2. Look after your eyes

Looking at a computer screen for hours can be taxing on your eyes.

Aim to follow the '20/20/20 rule'. That means that every 20 minutes, look 20 feet away for 20 seconds, this should help your eyes recover from the strain.

3. Create boundaries

It can be tempting to work longer hours from home but remember to have boundaries between work and home life.

Having a home office can be beneficial as a designated workspace that you can leave at the end of the day.

If you don’t have a home office, why not consider picking a space in your home that will be your professional sanctuary.

4. Put a plant on your desk

Plants can play a major role in creating a more peaceful, yet engaging workspace.

5. Natural light is important

Natural light is good for your eyes and mind.

If your home office doesn’t have any windows, make sure you have plenty of lamps producing light.

6. Invest in a decent coffee machine!

Standing up and giving yourself breaks from your computer screen is important.

Getting a coffee can be a well-earned break from work and give you some extra energy to get through the day.

With career changes higher in September than any other month of the year, are you looking to relocate? Contact us today to see our latest listings in your area.**

*National Office for Statistics

**Job search website, Monster