Welcome to your monthly property update!

Fall in love with your home this February

It’s important to love your home. Like any relationship it shouldn’t be one sided! The more love you show your home the more it will be reciprocated. Perhaps when you first laid eyes on your home it was love at first sight. As time has gone on things have become more complicated. You have discovered more things that need attention and work. The thought of addressing these things can be exhausting when you are struggling to find the time, in your busy life. You have even forgiven yourself for thinking of moving on!

Or perhaps you are obsessed with your home, and you spend a lot of your time thinking about how you can improve it. You love the natural character of your home and you have done much already to improve it and you simply need some inspiration.

The little things you can do

Show your home you care by cleaning and keeping it in tip-top shape. A fresh coat of paint, new lamp shades, some more collectables or accessories for the kitchen. Candles, flowers, plants, paintings, pictures and perhaps most importantly trying something new. To keep things really fresh and vibrant take a departure from your norms.

Try something different

Have you ever painted your furniture? Try it – the kitchen table and chairs or sideboard. It’s on trend right now and the results can be room altering. There is no such thing as right or wrong when it comes to interior design and decorating. It’s your home to make unmistakably yours. Restore furniture or find something a bit different, that tells the story of who you are.

Commitment – big renovations

Show how committed you are to making the most of your home by not putting off what you have wanted to do for ages. Your dream kitchen, a new bathroom, or both. If you need to borrow for one sometimes the smart thing to do is borrow a little more and take out a loan and give your house the complete makeover it deserves. This will add some serious value to your home.

Garden and outside

A great garden can truly become a magical place. The scope for ideas and to create your own unique world is endless. From decking, flowerbeds to ornate garden sculptures. Multilevel gardens with built-in seating. While it’s still wintry why not create a fire pit and plant some outdoor lights which will create a warm, romantic ambience outside.

A workspace

If like many people, you work remotely, why not create your perfect work from home space. If space is limited a balance between aesthetics and functionality can be difficult to achieve. Experiment with your set up, perhaps put your desk near a window, or hang some inspirational pictures, which will stop you becoming bored of the same four walls. The little things here make a big difference, even some flowers or plants. Keep things simple, a well organised compact desk that does not make a statement but is functional and uncluttered so you can concentrate on the tasks in hand.

Do you want to love the home you live in? Browse our properties and find your perfect place.

*thetwinteam

26 April 2023Jools Holland @ Boisdale of Canary Wharf

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Six Queens: Passion and Peril at the Court of Henry VIIISaturday, 20 January 2024

Unusually for sixteenth-century royalty, Henry VIII believed that his marriages should bring him personal happiness, choosing women he loved more often than political alliances.

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What will the 2024 UK property market look like?

It’s impossible to predict the future completely, so why worry? When homes sell incredibly quickly, this often leads to rapid property price inflation. Right now, the market is stable and not growing rapidly, which makes it a good time to move. You have a little more scope for negotiation while still achieving a great price for your existing home, as it will have gained in value in recent years. With inflation falling in November by 2% to its lowest levels in two years to 4.6%* and wages rising, the market is returning to normal. The expectation is of slowly falling rates and rising property prices steadily emerging towards the end of 2024, but could this occur earlier than expected with the January rush?

Winter

Winter 2024 begins in December 2023, as many homemovers get a head start on finding a great home before January. Sellers are itching to move, having placed their homes on the market in time for scores of viewers, who create a Boxing Day home moving boom. In fact, the week of Christmas is one of the busiest times of the year.

Spring

Those who have waited to move in January will now place their homes on the market as the property market gets into full swing. Added to those who decided to take the plunge by moving into their dream homes in time for sprouting daffodils. As mortgage rates become more competitive, combined with a strong beginning in 2024 with better buyer affordability, there will be real momentum in the market.

Summer

If you have already bought your home at this point, you may have got the timing just right. In many ways, 2024 is a good year to buy and then gain the rewards of good growth in the following years. Overall, the outlook appears steady, with a lot of stability. You could be sitting pretty with a garden in full bloom and concentrating on a holiday, knowing your property plans are sorted and all you’ll need to do is make the most of enjoying the reality that was once a dream.

Autumn

This appears to be the only season of change, and perhaps we are tempting fate to look this far into the future. But if the predictions of analysts are correct, mortgage rates will start to decrease further but not return to the extreme lows of the past. As a result, property prices will start to rise more rapidly.

Your agent can transcend time

Any time is a good time to move; it’s more about you and your home. Good estate agents hold the keys to optimising your situation at any time of the year and are becoming extremely adept at the entire moving process. Today, they are armed with vast databases of homemovers that connect your home with the right buyer quickly. They can help broaden your mortgage options with the right mortgage advisor and fine-tune the value of your home, which is critical in today’s market. Finding the property that will improve your life immeasurably will help you feel awesome all the time.

Bank of England*

Properties are selling faster than you might think

Are you thinking of selling your home but worried about how long it could take? The sale time may not be as long as you think. There are many different factors that can affect the speed of a sale, including pricing strategies, local market conditions, and property type. Let’s take a look at the average sale times of a range of property types and how you can make sure you secure a sale in good time.

Two-bedroom terraced houses shifting quickly

According to Rightmove’s November 2023 study, two-bedroom terraced houses sell faster than any other property type, with an average sale time of just 28 days.* This is primarily due to the fact that they are one of the most affordable property types, as well as the fact that they are relatively rare, accounting for just over 8% of properties on the market recently.* Three-bedroom terraced houses and three-bedroom semi-detached houses also sell quickly, in just 31 and 32 days on average respectively.* Flats also sell quickly, taking between 35 and 37 days on average, depending on the number of bedrooms.*

Larger properties are not far behind

You might expect sale times for larger properties to be much higher. However, the average sale time for a four-bedroom semi-detached house is just 39 days, with a terraced property containing the same number of bedrooms taking just two days longer.* Three-bedroom detached houses take just 43 days to sell on average, and even the property type included in the study that takes the longest time to sell, four-bedroom detached houses, takes just 47 days on average.*

The market has stabilised

The more eagle-eyed individuals may have noticed that these figures show an increase in average sale times compared to Rightmove’s 2022 study. However, this is not a reason to panic. It is simply the result of the housing market stabilising after the pandemic. Sale times are still relatively fast and should definitely not deter anybody considering selling their home.

What you can do to secure a sale quickly

There are several things you can do to ensure that your property sells quickly and smoothly. Firstly, it is important to price your home correctly, as overpricing your property may discourage potential buyers from making a bid. Making sure your property is well-presented for viewings also helps to secure a quick sale, as it increases the chances of someone liking the property and making a bid. You should also take advantage of an estate agent's marketing skills, as they can advertise your property using a variety of different strategies to find you a buyer.

Looking to sell your property? Contact us today

Rightmove*

Landlords! When was the last time you booked a rental valuation?

Rental demand still outstrips supply in the UK, and your property is unique, which is why it’s important to understand its true rental value. Average rents for new lets increased by 12.2% in the year to September 2023, and are expected to increase by 5–6% in 2024.*

Why should you get a rental valuation?
As a new or existing landlord, you want to keep clued up with the market and benefit from a good rental valuation. Determining accurately how much rent to charge optimises your investment and creates a balance between maximising property income without overcharging tenants. This attracts long-term tenants who are prepared to pay fair prices, which guarantees a good return on investment. It can also support landlords in adhering to regulatory requirements. A good agent can advise you on how much rent to charge, enabling you to budget for the upkeep and improvements of your property. This keeps your buy-to-let property competitive in the rental market and makes for a better tenant-landlord relationship.

Things to consider when determining your property’s rental valuation:

Tenants
A good agent will figure out which sector of the market best suits your property. Perhaps you have already decided that you are aiming at the young professional, student, or retirement markets, or have you created an ideal family home? If you have not decorated yet or your property needs improvement, your agent will be best placed to advise you.

Demand
Understanding the true rental value of your property is intrinsically linked to levels of demand. Agents utilise databases and years of knowledge of the property market to understand the scale of demand for your property. This will be pivotal in understanding your investment.

Your property’s location
The location of your property is influential; however, it's not all about the postcode. Sought-after and up-and-coming areas will add value. Proximity to transport links and good schools is ideal for families. Located in a beautiful rural area, or an inner-city location, shops and other amenities also play a part in adding to your property’s rental valuation.

Is your property furnished or unfurnished?
Is your property unfurnished, partially furnished, or fully furnished? A fully furnished property could command a higher rent. Having said that, providing a property without furniture does not put you at a disadvantage, and you will not be responsible for the upkeep of any furniture or appliances that you do not own.

The condition of your property
Needless to say, if your property is in good condition or has been recently refurbished, then it will be more desirable to tenants and will affect how much rent you can charge. A good agent will also be able to advise you on where to spend on alterations, if that is something on your to-do list.

What do you need to prepare for a rental valuation?
Making your property presentable and in good order and having all the right paperwork to hand, such as gas safety certificates or deeds, is always a good idea. If your property needs painting, re-decorating, and decluttering, it helps to carry this out before you have it valued. After that, your agent will do the rest. In fact, with a fully managed service, your agent’s maintenance team may be able to prepare your property to let, depending on the work that needs to be carried out.

Find the hidden rental value of your property by booking a rental valuation

Zoopla*

New year, new home, new beginning?

Here we go again! Another new year, another chance to find everything you are looking for in a property. Could 2024 be the year that you have all the right questions answered with a lovely new home?

A new year

With visions of a better year ahead for 2024 popping into your head, you are forgiven for feeling excited about moving. The Christmas break is the perfect time to start searching as thousands of properties magically appear on the market. Sitting back in your favourite chair by the fire when you have some time to take a step towards a better future is a nice way to relax. A new year always brings new opportunities. If you see yourself and your loved ones sitting in a better garden, enjoying a bigger kitchen, or beaming with smiles because you are living in the location you love, then talk to your agent. The past year has been strong and proves that the UK property market is extremely resilient. Buyer demand is still incredibly strong, and prices are stable. At this time of year, you have the best of all worlds. There is plenty of buyer activity, but also plenty of people who will wait until the market is in full swing in the spring. That means high demand with not-so-high supply, which could lead to a swift sale and the new home you have been looking for.

A new home

The past few years have been eventful, but 2024 looks like it could be the year in which things settle down, which is why many people will choose to do exactly that. Making new friends in a new location, even if it’s in the same town, is an opportunity to make a fresh start. Decluttering your life from all the stuff you have collected over the years is a liberating experience. There is something extra special about doing this as the year begins. Are you craving a better property with a garden and an outdoor living area to cherish, that is, energy-efficient, full of character, cosy, and airy at the same time? Could a move mean a better education for your children? Could it lead to a happier life? Create a healthier life closer to family? A holiday home or a buy-to-let investment? Whatever you are interested in now is your opportunity to make a move before the property market takes off again.

A new beginning

There is so much to feel positive about as we head into 2024. Interest rates are stabilising, leading to lower mortgage rates and an increase in the number of mortgage types available. There is more time to pay with longer terms, interest-only options, porting, green mortgages, guarantor mortgages, interest-only and offset mortgages, which allow you to use your savings to reduce your balance, meaning you pay less interest. Agents’ listings are full of properties that have had a lot of work carried out, elevating them to new standards. And the market looks nicely placed due to its steady pace built on solid foundations. This is based on high demand and a high rate of mortgage-free home ownership. Don’t be jealous; this helps keep the property market financially secure. In 2021, 32.6 percent of dwellings were owned outright in England.* The market has become more complex than ever, and properties are becoming more individualistic. It takes real expertise and market knowledge to optimise your home move, so you can make the most of your new beginning.

This is money*