This month's update 

Busiest ever autumn? Buyers, prices and supply all up and rising

Buyers up. Prices up. Supply up.

An astounding number of homeowners and movers are progressing with their sale right now, with 140,000 more buyers in the process of completing when compared to this time last year.

 

Since the end of the country's spring lockdown, we've seen record levels for properties reaching 'sales agreed' in the UK, culminating in there being 50% more homes going through the system as buyers rush to meet the stamp duty deadline.

Zoopla estimates that there are currently over 418,000 sales in the pipeline awaiting completion, with an overall value that's over £112 billion.

 

 

What are the key facts and figures behind all of this market activity?

 

- Sales agreed hit an annual high back in August, showing a 62% year-on-year uplift.

- There has only been a slight change in pace, as sales agreed were running at a 53% year-on-year uplift this month in comparison to October 2019.

- Regionally, sales agreed year-to-date are up the most in the South East by 15%, followed by London at 12% and the East of England with 11%.

 

 

With the deadline for stamp duty savings looming, what can you do to increase your chances of completing in time?*

 

To avoid any disappointment, make sure you can do your bit to help move the process along, follow these tips:

 

Acquire a reliable solicitor

 

Over lockdown, the housing market will remain open, including for agents, solicitors and conveyancers.

 

Having gone through this once before, these representatives should be fully prepared to provide a seamless experience whether from home or the office.

 

Meaning once an offer's been accepted, you can move to the next stage without any unnecessary hold-ups.

 

 

Identify issues early on

A conveyancer will identify any problems and will offer solutions.

 

Obtaining the relevant information and agreeing on a positive way forward will take time. If you know your issues early on, try and get them sorted as soon as possible and keep your solicitor updated.

  

Manage the chain

If you are in a chain, issues may arise that are beyond your control.

It is important you understand your dependencies. Talk to your seller, buyer, and their agents regularly, monitoring what is happening with any related transactions and making sure you're all working towards the same target; that being, the same completion day.

Good communication will keep things on track and avoid any delays along the way. Talk to us today for more information.

 

*Stamp duty holiday ends March 2021.

 

What buyers really look for when they are viewing your home

In their recent study, comparethemarket.com uncovered some interesting research on the property market to help sellers and their agents understand exactly what stands out to UK homebuyers.

Using eye-tracking technology, they were able to precisely monitor engagement during viewings, which establishes whether the core USPs you think your home possesses truly matter to potential buyers.

  

Here are some things you might want to consider.

Radiators. As we approach winter, it will be high on people’s priority lists to check if there is cost-effective and efficient heating throughout the house.

 

If you have viewings booked, consider turning on your heating before they arrive; not only to ensure a warm, cosy environment but as a way of showcasing your radiators are fully functional.

Access to the garden. Not having easy access to a garden can be off-putting to buyers – especially after the year we have had.

 

For this reason, a lot of people are now looking for homes with extra outdoor space, so make sure the garden is accessible and well presented.

Water pressure. Another thing that people do when viewing the kitchen is turning on the tap to check for any faults with your water pressure and/or plumbing.

 

Is your water pressure to normal standards or do you need to have your plumber look it over?

 

As a key room for homeowners, potential buyers are extra vigilant in this section of the property, meaning it’s important to keep your tap limescale free and wiped down with baby oil for an added shiny finish.

Cupboard doors. Another thing viewers look out for when in the kitchen is the quality of the cupboards.

 

Replacing items in the kitchen usually comes with a hefty price tag, which can be a big factor for buyers. Make sure your cupboard doors are screwed on tightly and wiped down.

The oven. Viewers tend to look at the oven to see if it is operational.

 

Make sure it is clean and avoid cooking anything too smelly before the viewing takes place. Ensure the hobs and trays are as clean as possible too!

 

 

Following their study, Head of Mortgages at comparethemarket.com – Mark Gordon – commented: “UK house prices are currently on the up and with the stamp duty holiday prompting more buyers to get on the property market, it’s a competitive time for homeowners looking to sell their home.

“We conducted this experiment to determine the areas of the home that buyers look at most to help sellers maximise their chances of a sale. Some sellers may not have considered these factors when preparing their homes for viewings, so we hope our insight will help them focus on the areas they should check and freshen up.”

 

If you need help selling or buying this autumn, talk to us as your local property experts – book your valuation today. 

 

 

Please note: when organising viewings this November, please help your agent by adhering to the latest government guidance, which includes remaining outside of the property for the duration, disinfecting any common touch points like door handles, and making sure to limit contact. 

 

 

 

What you should do if your home is not selling

Each sale experience is different from the last, so it's important not to be alarmed or lose heart if you come across any unexpected delays during the process.

 

 

By choosing a local agent, you'll have someone by your side to guide you through each step, and offer their expert insight on navigating the market in the best timeframe possible.

 

To offer our guidance, here are certain contributing factors that you can do to help speed things along, including the following top tips:

Know the market

The more informed you are about the property market and the current value of your home, the more informed you will be about your own sale and chances of success.

 

When consulting an estate agent during a valuation, make sure you are fully prepared and receive all of the information you need to make the right decision.

 

How are they planning to market your property to increase marketing exposure? What timeframes would be realistic to sell your home? Is the valuation figure you've been provided achievable?

 

Having strong local ties can be a really important benefit when selecting someone to sell your house, as they will often have the resources to target local buyers, as well as a sizeable database of contacts to connect with your home.

 

Seal the deal

One way to avoid unnecessary delays is to handle your finances and approach mortgage advisors and solicitors ahead of time so that when you are ready to make or accept any offers, you can close on those deals with minimal hassle.

 

 

Fix up your home

Whilst some buyers are specifically looking for their next renovation project, the majority would prefer to move into a home that's ready to be lived in immediately, without the stress of completing repairs or changes.

 

If you're able to complete any work on your house, this will reduce the number of faults that are potentially picked up by buyers viewing your property, which could also reduce the number of offers being put in below the asking price.

 

 

Stage your home

Effective property staging is one of the most important ways you can attract more interest.

 

This involves making your home look 'show home ready' and essentially presenting viewers with a blank canvass to fill with their own style and character.

 

A well-staged property will show off how much space your home has to offer, with your own personal belongings hidden from view.

 

 

Whilst it can be difficult to predict how your home will perform on the market, and informed local agent will be able to guide you on what to expect, with a realistic timeframe and a plan of action – should your sale take longer than you'd hoped.

 

For more information, speak to our team today.

 

 

10 cost-effective hacks for keeping your property warm and cosy

With much of the UK workforce now operating under lockdown again, it's estimated that we'll see a collective hike of almost £2 billion on our energy bills at home.*

 

Here are our top ten cost-effective hacks to keep you warm this winter:

Cover up bare flooring – wooden floors can be notoriously cold, but thinner carpets can also be chilly. The addition of a thick, cosy rug can really make a difference to the warmth of the room, whilst adding a stylish touch.

 

Be smart about furniture placement – similarly to adding staple pieces such as a fluffy rug to a room, other larger pieces of furniture can make a huge difference, as can their placement in your home.

 

Any furniture blocking a radiator should be rearranged to ensure that the heat can flow around the room more evenly, creating an overall warmer environment.

 

Use draft excluders – these can be particularly useful if you are renting an older property.

 

Place these in front of doors to keep the heat in. This will save you money on your energy bills as less heat will escape the property. They can also be matched to your current interior.

 

Let the sun in – on sunnier days this winter, open your curtains and let the sun warm up your home. Sunlight is not only great for naturally warming you up but also for your mental health and energy levels. 

 

Keep the heating on low – this may sound bizarre, but having your heating on a constant low level during the day can lessen your energy bills.

 

This prevents the periodical off-on that will cost you more in the long run. Similarly, this will avoid pipes bursting when the temperature drops below zero.

 

Heavy curtains – another way to keep the heat in this winter is to hang heavy curtains or blinds near your windows, as the fabric will absorb the draft that would otherwise be coming into your property.**

 

Keep doors closed – once your heating or fire is on and warming up your property, ensure you keep doors closed to keep the rooms you’re using nice and cosy, rather than letting heat escape into unused sections of the house.

 

Be selective – any rooms that aren’t used regularly, such as guest bedrooms and bathrooms could be costing you extra money on energy bills.

 

To avoid this, turn the radiators in these areas down, keeping them on low to avoid the pipes freezing.

 

Similarly, areas such as the kitchen and bathrooms won’t need to be heated as much as your living room, so remember to take this into consideration.

 

Block your chimney – if you’re lucky enough to own or rent a property with a gorgeous chimney, these can be a huge culprit for making your home chilly.

 

To avoid this, try purchasing a low-cost chimney balloon. These can be inflated inside the chimney – out of view – and will block cold air coming in, as well as preventing heat escaping.

 

Bundle up – it wouldn’t be a 'keeping warm in winter hacks' piece without mentioning layering!

 

As clichéd and predictable as it is, wearing a jumper, dressing gown or a fluffy pair of socks is a great way to stay warm on a budget. This paired with a warm drink and a bowl of soup creates the perfect cosy evening in.

 

 

For more information or support with your property, contact our team today.

 

 

 

*Source: The Guardian

**Notice for tenants: if any alterations to your property are needed to make this change, please ensure you have permission from your landlord prior to doing any work. 

 

Tips to create a home office without losing an entire room

The verdict is in, working from home is here to stay!

 

Government guidelines state that employees need to work from home, where able, over the course of the second national lockdown.

 

However, when asked, over half of the respondents claimed that they would continue to work from home on a permanent basis. Out of those who did not wish to work from home permanently, the majority blame the lack of a home office to operate from.

So, how can you create a working space if you don’t have a whole room available?

 

Share space – Look at areas around your home where you can make a room multi-purpose, with the addition of a desk and chair in your spare room, kitchen, living room, or dining room.

 

This will not only use up wasted floor space but offers a practical solution. It is also a great way to prioritise your home décor pieces.

 

For example, if you are lucky enough to have a spare room, a large double bed that is rarely used can be replaced with a sofa bed.

Re-purpose furniture – If you have an unused piece of furniture, such as a dressing table, you can re-purpose them into a sizeable desk space.

 

This option is not only eco-friendly and cost effective, but super easy, as you can simply transform the current location of the furniture into your office zone.

 

Our top tips for creating a cosy yet productive home office space is to position yourself away from any distractions like windows and use plants and candles for a more homely feel.


Staircase solutions – The area under the stairs is often overlooked, so this can be a great solution to needing a home office.

 

Ideally, an open staircase without risers is best for this hack, but this can be adapted depending on the space you have to work with. The area under the stairs is notoriously dark, so good lighting is key here – this can be yellow or white light, depending on the vibe you wish to create.

 

If you want to go all out, bespoke built-in office spaces are a great way to utilise the entire area.

 

 
Cupboard office – This revolutionary workspace solution, nicknamed a ‘cloffice’, is a great alternative to a clunky desk in the middle of a room.

 

To create this, use a spare wardrobe or large cupboard – this works even better with built-in furniture.

 

Use shelving to create an area to hold your computer and files, and decorate to your taste. The best part about this hack is that you can close the doors on your home office after your work is done for the day. Perfect to help maintain a healthy work-life balance.

 

Utilise outdoor space – If you’re lucky enough to have a summer house or garage, these can be transformed into a dedicated home office.

 

Summer house solutions are great for the winter. Just add a heater and invest in a secure locking system to keep your items safe, and you’re good to go!

 

For a garage, this may be slightly more expensive, but will work all year round. To start, cover the concrete floor with rugs or a fitted carpet to warm up the space and pay attention to the walls, as these may need insulation.

  

 

To find out what properties have recently come onto the market in your area, contact us today.