Your monthly update with ehB

Optimal selling conditions following the end of the stamp duty holiday

 

Autumn is traditionally one of the best times to sell your home, and with demand levels remaining high despite the end of the stamp duty holiday, we're on track for one of the busiest years for sales yet.

 

Is now a good time to sell?

 

Annual house price growth was at 10% in September, so when combined with a shortage of available properties, homeowners looking to sell are in a promising position to achieve or exceed their asking price.*

 

Here are the top five ways to get your home sold this autumn:

 

Having neat furniture and fresh décor 

 

Keeping your house viewer-ready is paramount to securing a quick sale.

 

First impressions count, so make sure your home is looking its best before any marketing materials or photos are taken, as well as for the actual viewings themselves.

 

Add some colour to your garden 

 

Gardens can begin to look drab and unloved in autumn, however, there are simple changes you can make to ensure you get the full value from your sale.

 

Even if you have limited outdoor space, a tub or plant pot can easily brighten up your garden and make it look much more attractive.

 

Take advantage of natural light 

 

Post-lockdown, bright open space is in demand.

 

Let as much natural light in as possible before having photographs taken, such as by cleaning windows and keeping rooms well lit.

 

It may also be worth illuminating any dark corners with lamps to give the impression of natural light.

 

Be available for daytime viewings 

 

With limited light available in autumn evenings, it’s important to be available in the daytime. Any effective agent should be willing to do viewings when you are unable.

 

If you’re looking for the right agent, look no further and contact us to see how we could help you today...

 

Keep your home well ventilated 

 

The last thing you want is your house to be stuffy while you’re having a viewing. Having fresh air circulating is a great way to make your house feel airy and comfortable.

 

It’s a good idea to open all the windows for an hour or two before the viewing.

 

With the last rush of sales before the winter months, get your house on the market this autumn. Contact us today.

 

 

*Nationwide

 

Finding the right home at the right price

 

You might think you’ll never be able to afford your dream home, but there are a number of ways that you can make it happen.

 

From finding a doer-upper to avoiding expensive trends, here are seven ways you can make your money go further.

 

Buy an older home

 

Older properties may need more care and attention to update, but you can often get a brilliant property for far less.

 

According to Land Registry Data, new build properties sell for £65,000 more on average than existing housing stock.

 

Buy a home you can extend

 

A loft, basement or garage conversion can give you even more space and increase your home's value if and when you choose to sell later on.

 

Adding an extension, if done right, can be much cheaper than buying a larger house but make sure you do your research beforehand and budget for the necessary work.

 

Avoid paying for benefits you don’t need

 

Buyers will often pay more for a property that’s close to public transport routes or within a specific catchment area for schools.

 

If you're flexible on location, don't overpay for the sake of it.

 

Living in a catchment area for a good school can add up to 12% on a property's sale value, so you may be able to get more value elsewhere, if those priorities aren't essential to you.

 

DIY could save your wallet

 

Be prepared to do some renovations yourself to avoid paying extra.

 

When viewing a property, try to ignore the current owner's belongings and instead focus on the size of the rooms and its location.

 

Weigh up the money you’re saving against the cost of any refurbishments, as you don’t want to be left with any nasty surprises once you've signed on the dotted line.

 

Consider buying a property that’s going ‘out of style’

 

Homes built in the 60s, 70s and 80s are likely to be much cheaper, as they are considered less desirable.

 

When you buy a property, the only thing you can’t change about it is the location and amount of light it gets.

 

Consider this when opting for an outdated style of house, as an extension or just some TLC can completely change the look and feel.

 

Is location everything?

 

If you can’t afford the property you want in one area, it doesn’t mean you can’t afford it at all.

 

Consider looking at a few different locations and see how much property prices vary. Adding an extra 15 minutes to your daily commute may mean you can afford a significantly bigger property.

 

Make use of government schemes

 

Schemes like help to buy and shared ownership can be extremely useful if you can’t quite afford the home you want.

 

Help to buy means that you can get a five-year, interest-free equity loan of 20% of the property’s value, which could make all the difference when buying your dream home.*

 

Shared ownership gives you the option to gradually increase your stake in the property by staircasing as and when you can afford it.

 

If you’re looking for your perfect property, contact our team today.

 

 

 

*Zoopla

 

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

 

 

Rents rise at fastest rate for 13 years

 

The lettings market is booming, with properties letting almost a week faster than in 2020.

 

Now the pandemic is easing, people are returning to the city centres, which is causing an increase in demand and a shortage of available rentals on the market.

 

Rents outside of London have increased at their fastest rate since 2008, reaching £790 PCM on average.

 

Whilst rents outside of London have shot up by 5%, London landlords are also seeing a rise in value.

 

The average rent in London now stands at £943, up 2.1% compared to last year.

  

Affordability has remained consistent across this period, with average earnings increasing faster than rents, ultimately showing signs of healthy growth in the buy-to-let sector.

 

With tenant interest 80% higher than the average between the periods of 2017 and 2019, demand is still outstripping the supply of rental properties.

 

What is causing this spike in demand?

 

- Students returning for the academic year

 

- Returning demand for city properties post-lockdown 

 

- Level of rental homes decreased by 13%

 

This mismatch in supply and demand has forced rents up and led to the rental market’s fastest paced year since 2016.

 

If you want advice on any aspect of the rental market or are interested in a rental valuation, contact us today. 

 

 

 

 *Zoopla Rental Market Report