Is housing supply starting to improve?

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

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

Top 10 reasons a buyer will walk away

When it comes to purchasing a property, eight in ten Brits admit to being 'picky buyers', with research showing that a poor Wi-Fi connection is enough to put a third off a new home.*

Other contributing factors can include having noisy neighbours, creaky floorboards and thin walls.

Of those surveyed, 22% would be deterred by an unruly garden with overhanging branches, with a third agreeing that dogs barking in the area would be a deal breaker.

If you're looking to sell your property in the near future, it's a good idea to determine what elements inside and outside could be picked up on by prospective viewers.

Where able, you should also complete any outstanding DIY jobs or renovations, as this will help you to secure a better offer in a shorter time frame.

Top 10 reasons for a buyer walking away from a deal:

Noisy neighbours – 47% 

Loud area – 45% 

By a main road – 44% 

Thin internal walls – 43% 

Near an airport – 41% 

Hard to park nearby – 40% 

Lack of storage options – 38% 

Ceilings being too low – 35% 

Steep stairs – 34% 

Poor Wi-Fi – 33% 

At this time of the year, activity from buyers only increases in the run up to Christmas, with many wanting to unpack the last box before getting into the holiday spirit.

Whether you're looking to sell or let, we're ideally positioned to maximise marketing exposure for your property and help buyers see its best qualities.

Contact our team today for your up-to-date valuation.

*First Mortgage

What's changed with tenancy evictions?

Over the last 18 months, a number of measures were put in place to protect tenants who were unable to keep up with their rent payments.

This put a strain on landlords and the lettings market as a whole, with the government easing these rules back gradually to help all parties involved recover from the effects of the pandemic.

A notice period can be anywhere up to six months before an eviction can take place. In addition to this, a tenant can only be asked to leave during the contract's fixed term, if:

- The tenant is behind on rent payments

- The property has been used for illegal activity

- The property has suffered damage during the tenancy

Notice periods have been extended since the pandemic, which gives tenants some breathing space if their employment status has changed.

Once the tenant has been issued with a written notice of wanting the property back, the tenant is given:

- Two months to vacate if they gave notice prior to the 26th of March 2020

- Three months, if it was between 26th March and 28 August 2020

- Six months, if it was after 29th August 2020

- Four months, if it was after June 21 2021

Despite these dates, according to the government, if a tenant is evicted with a section 8 notice, the tenant may have to leave much sooner.

A tenant should pay rent until the end of their agreed term in accordance with the contract they would have signed. Despite this, it is normal to still liaise with the landlord to see whether there is a break clause in the contract.

Landlords may also allow a tenant to leave a fixed-term contract early if the tenant has a direct agreement with them, such as finding a replacement.

Do you need help as a landlord or tenant? Talk to our team today.

How much do you know about the mortgage process?

According to a recent survey, buyers are hopelessly uninformed on the mortgage process.

Whilst the furlough scheme was active, 64% of those living in Britain believed that lenders would not consider whether they received support when applying for a mortgage.*

Likewise, from a survey of 2,000 adults, 42% did not believe being self-employed would be considered.

When deciding whether to lend to you or not, a bank will always assess the risk factor, which means taking into account anything that may affect repayments, such as your employment status and spending behaviour.

Of all generations, it is those aged 35 and under with the least experience on what to expect when applying or looking to re-mortgage for a better deal.

Only 15% of those aged 18 to 24 knew that the government-guaranteed mortgage scheme announced earlier this year applied to them, with a staggering 85% left in the dark.*

Wondering if you’re eligible?

Open until 31 December 2022 for new applications, this scheme is available to first-time buyers and home movers across the UK.

For more information, go to: https://www.gov.uk/government/news/new-95-mortgage-scheme-launches

If you’re looking for mortgage advice, contact our dedicated team today. We can provide comprehensive advice and help you find the best deal possible.

*Estate Agent Today

Building your dream open plan living space

With light and space becoming essential in any house post-lockdown, it’s no surprise that many homeowners are opting for a more open plan living space.

Here are a few simple tips to help you build a beautiful integrated living and dining area.

Consider your specific requirements

What would you like to achieve from your project? It’s a good idea to make a list of what you need from your new space.

Do you want to be able to watch movies or play music, and what sort of storage do you need it to have?

Will you need planning permission?

To create your living and dining area, you could refit the existing space or extend on what you already have.

Before starting any major projects, always contact your local planning authority to confirm whether you need to apply for planning permission.

Always follow building regulations

Your project may not need planning permission, but it will need to comply with building regulations. These will include rules around ventilation, insulation, heating and fire protection.

You may need to seek professional assistance

You might want to seek help with design and technical drawings of your new space, depending on the scale of the work being undertaken.

An architect would be able to help you with this. If the dining area is going to incorporate a kitchen, you may need to seek out a kitchen designer to make the most of your space and give you the guidance you need.

Let natural light in

If you want to add light to your open plan space, then installing glazing and bi-fold doors is an easy way to do that.

Another option is adding roof lights or a roof lantern to get rid of any dark corners.

Recently renovated your property? If your home has recently undergone a refurbishment, we can value your property and help you learn its current sale value, talk to us today.

1 in 4 households are making home improvements

The last few months have seen energy prices soar and household budgets squeezed. As a result, many homeowners are starting to alter their homes to cut bills and increase the energy efficiency of their properties.*

But it’s not just the cost-of-living crisis that has prompted this trend. Recent government net-zero policies mean that properties with higher EPC ratings may be easier to rent or sell in the future. Investing now will not only help you cut bills and boost your eco-credentials, but it could raise the value of your home moving forward.

According to a recent investigation, 16% of people plan to install windows with double or triple glazing, with energy-efficient fittings, draught-proofing, solar panels, and insulation also high on the agenda.

Meanwhile, general painting and decorating (58%) and installing a new bathroom (26%) took first and second place on the list of priorities, reflecting how much time people may be spending at home. The front garden was an important consideration too, hinting that kerb appeal and aesthetics matter to many homeowners.

Interestingly, around 6% of people surveyed planned to install a heat pump, with 7% thinking about an outdoor electric charging point for vehicles. With more political changes on the horizon and an uncertain energy supply resulting from the war in Ukraine, people may continue to feel the need to adapt their homes accordingly.

If your budget is tight, small changes such as using a smart meter or swapping out inefficient bulbs can still make a difference. We can also advise you on how larger improvements may increase the value of your home.

Contact us for a friendly chat or to book a valuation.

*Property Reporter

Housing supply starts to improve

This month, property search portal OnTheMarket published its Property Sentiment Index, offering insights into how things might be changing. According to the report, the number of sale listings is rising, slightly dampening the issue of supply.

In addition, strong market growth over the past two years means that 82% of buyers still believe they can achieve a completion within three months. Along with the promise of moving in time for summer, this confidence is further driving homeowners to list their properties for sale. *

However, due to an inherent lack of housing stock nationwide, prices are unlikely to drop dramatically any time soon. Instead, buyers should look for the coming window of opportunity as the market settles to an ‘elevated version of the pre-pandemic market’.*

Looking to buy? Browse our available properties here.

*OnTheMarket

What are tenants on the hunt for in a property?

A recent report by the Social Market Foundation (SMF) has revealed tenants’ top priorities when choosing a home.* The results may help landlords make the most out of their properties while providing a valuable service for the wider community.

While the private rental sector faces huge demand, landlords who listen to their renters’ needs are more likely to attract long-term, conscientious tenants desiring a secure home.**

So, what steps should landlords take next?

Pitch the price just right

After financial pressure brought about by COVID-19 and the cost of living crisis, it’s not surprising that 55% of tenants consider price above all else. However, many renters (35%) also prioritise bigger properties, so where is the sweet spot?

Understanding regional dynamics can allow landlords to balance the property’s worth with affordability considerations. For example, some tourist-heavy counties have a disparity between house prices and local wages as homes are snapped up for the holiday market. Rents based purely on the property’s sale value may exclude local families in these areas.

A lettings valuation will give you a clear baseline to adjust accordingly, depending on your circumstances and long-term financial goals – and the type of tenant you’d prefer.

Consider allowing pets

According to the SMF survey, 18% of tenants seek rentals that welcome animal companions. Compare this to the mere 7% of landlords who actively market their homes as pet-friendly.

If you’re preparing a new rental property, perhaps think of ways to make it more suitable for pets, such as choosing wooden or tiled floors over carpets, or securing the garden.

Provide value for money

Everyone loves a good deal – including renters. Although many tenants have a tight budget, plenty will pay more for high-quality interiors and decent gardens. In fact, the latter was cited as a top priority, especially for those looking to create a long-term home.

Choose a property near amenities

If you’re planning to invest in a buy-to-let property, it’s worth knowing that 38% of renters wish to live near their workplace. Public transport facilities and access to shops also factor in for 37% and 36% of tenants, respectively. Therefore, it’s worth searching for opportunities that tick these boxes.

Want to learn more? Contact us to discuss how to boost your property’s rental potential and book a lettings valuation.

*Social Market Foundation

**Paragon Bank

Make your rental application stand out

When you've found your ideal rental, it can be frustrating learning that it is in high demand - and that you're up against some competition.

If multiple people are applying for the house or apartment you want, you may be wondering, “How can I make my rental application stand out?"

Consult a letting agent

First, it’s best to speak to a letting agent before applying for the property. Ask specifically what information you’ll need to include in your application and take notes.

Your letting agent will almost certainly know the landlord, so it's not a bad idea to ask if they have any tips on how to make your application stand out.

Apply as soon as possible

It's usually a good idea to submit your application early. They'll be expecting your application once you've seen the rental property and informed the letting agent that you're interested. Sending your application early can make you appear more serious.

Don't forget anything

When submitting a rental application, you won’t want to miss anything or leave out important information. For example, missing references, bounced email addresses, and missing papers.

This can cause the application process to be delayed and make you appear disorganised to the landlord, so double-check everything before sending.

Write a cover letter for your resume.

Making your rental application stand out by writing a personalised cover letter to your landlord is a great way to do so. Don't be hesitant to sell yourself and emphasise all of the key points

Are you searching for a new rental home? We have a wide range of rental properties available. Browse our properties here.