Your monthly property news update by ehB Residential!

Sales being agreed in the quickest time since 2016

In the last five years, there’s been a 42% drop in how long it takes to accept an offer on the average UK home.* This is a fall from 45 days back in 2016 to a mere 26 days in 2022 – less than a month!

However, specific periods still beat the average. While sales slow at the beginning of the year (54 days), houses fly off the shelves in April in just 36 days.** Bear in mind that we’d expect to see variations like this because the market tends to quieten over Christmas and during the summer holidays.

Different regions have also proven more in demand than others, which helps fuel speedy sales. In particular, the East Midlands, the East of England, and London are popular spots for buyers right now. Slower areas include Yorkshire and the Humber, the West Midlands, and Wales, but overall, houses across the country remain in high demand.

What does this news mean for you? Both buyers and sellers are benefiting from a quicker sale process, and with the market set to ramp up again in autumn, now is the perfect time to think about moving in time for Christmas.

If you’d like to take advantage of the favourable market conditions, why not contact us to book a valuation?

*According to an analysis of Zoopla’s listing data conducted by money.co.uk.

**Average between 2016 to 2022.

Which green features do homes with high EPC ratings have?

Whether you’re planning to rent or sell your home, want to cut your bills or carbon footprint, your property’s Energy Performance Certificate (EPC) rating matters.

To clarify, an EPC measures the energy efficiency of a property on a scale of A-G, with A being the most efficient and G being the least. A-rated homes should have the lowest fuel bills and carbon emissions – a win for your bank balance and the environment.

Knowing the typical features greener properties command is helpful if you’re looking for a new home or wondering what improvements might boost your current score. A recent overview of high-rated homes listed for sale on a popular property portal, found many shared these attributes:

• Triple-glazed or laminated glass windows

• Aluminium windows (for thermal insulation)

• Air source heat pumps

• Carbon negative construction techniques

• PV solar panels for generating free electricity

• Mechanical Ventilation with Heat Recovery (MVHR) systems

• HeatStream water tanks

• Underfloor heating

• Ample insulation throughout

Whatever your starting point, we can advise you on improving your property’s EPC rating before renting or selling. We can also help buyers find an energy-efficient new home.

Reduce your energy bills with these money-saving tips

The cost of living crisis has strained the budgets of most UK households, largely due to an alarming increase in energy prices. If your home isn’t energy efficient, it’s likely your bills have given you cause for concern in the past months.

Autumn and winter are fast approaching. So, whether you intend to stay put or move soon, the cost-cutting solutions below could be worth their weight in gold.

Knowledge is power

Energy bills can be confusing, so it’s worth ringing your provider to discuss anything unexpected, check the tariff you’re on, and go through your payment options. You may also be able to set up email reminders to prompt you to submit regular meter readings to avoid being charged for what you haven’t used.

Check your entitlement to financial help

The Warm Home Discount Scheme and Winter Fuel Payment can help pensioners and those on a low income pay their fuel bills. You can also claim tax relief if your job requires you to work from home, because you live far away from your office, or your employer doesn’t have one.

You also qualify for a 25% council tax discount if you’re the only adult living in your home. As well as this, certain households can apply for insulation, and heat pump grants, or funding for improvements under the Energy Company Obligation scheme.

Prevent heat leakages

An easy way to save money is by sealing any draughty spots around windows and doors. Think about installing double glazing and blocking up unused chimneys and vents. Increasing the insulation in the walls and loft will prevent heat from escaping too.

Avoid energy vampires

According to British Gas, leaving your devices plugged in unnecessarily and forgetting to switch off sockets when not in use can cost almost £150 a year. Consider installing heating controls and smart plugs to help you manage your usage at the touch of a button. Inefficient bulbs can also burn through your budget – so choose low-energy LEDs.

Check your boiler and radiators

Bleeding your radiators and installing thermostatic valves can prevent cold spots and air pockets, increasing the efficiency of your heating system. Likewise, if your boiler is running at too high a temperature or the pressure is off, you could be losing money. If in doubt, invite an expert to check your boiler’s settings and keep it regularly serviced.

If you’d like to know how improving your home's energy efficiency could increase its value, contact us today.

Can equity release help you through the cost-of-living crisis?

With the cap on energy prices set to rise again this autumn and early next year, the cost-of-living crisis isn’t over yet. Homeowners who are struggling to pay their bills, or enjoy the same lifestyle as before, may need to consider how to increase their cash flow.

Unfortunately, those on a fixed income – such as retirees – can’t rely on landing a better job or a promotion to fill the gap. To make matters worse, many older people also support children and grandchildren battling rising bills, house prices, and inflation.

Equity release could be one answer to this knotty problem, as well as helping with other long-standing issues such as care costs, interest-only mortgages, and a small pension pot.

Equity release works by borrowing money secured against your home, which is usually paid back when your home is sold after your death or when you move into residential care. This is also known as a lifetime mortgage, though other options are available.

However, unlocking money from your home has drawbacks, such as reducing the amount your beneficiaries will inherit from your estate, and affecting your entitlement to means-tested benefits. If you’re already receiving council-funded care in your home, you may have to pay more after you release equity.

Before making any major financial decision, we highly recommend talking to a qualified advisor. We’re also on hand to discuss other options, such as downsizing or improving your property’s energy efficiency to reduce your bills.

Contact our team anytime for friendly advice tailored to your unique situation.