What does it really mean when you read a headline which mentions falling house prices? We hear this phrase so often that we are led to believe it! The media constantly churns out facts and figures to scare us all and warn of looming doom!   

For most people, buying a house is a long-term investment and if house prices rise or fall it’s always best not to focus on the headlines, instead take a step back and put things in perspective.  

If we look at last year, it’s true that houses price increases dipped due to interest rates rising and the impact of the minibudget. In 2022 house prices grew by 2.8% over all for the year, falling from a growth rate of 4.4% according to the Nationwide house price index. 

Yet according to the office for National Statistics average UK prices increased by 12.6% over the year to October 2022.  So, it depends on who you ask! Not to mention regional differences and property type - often houses increase in value more rapidly than flats.   

 

Predictions   

Zoopla predicts a 5% fall in house prices, while Lloyds bank give a higher figure of 9%. Many analysts agree house prices to fall for the next two years but rise again in 2025. Perhaps more optimistically the housing market could simply level out, with smaller drops in house prices. There is still a shortage of houses and therefore this will stabilise the market.  The housing market is simply returning to a pre-pandemic norm with more realistic interest rates. The good news is without rapidly rising prices, there is more long-term stability.  

 

The good news  

Ultimately if you are selling, the value of your home will have gone up considerably over the past years so if it falls a little you have still gained. If you are about to purchase your first property and still gathering the deposit and you know it may take a little longer, at least house prices are not rocketing which gives you a little more time.  And when you are in a position to make an offer, you may find that you have a lot more wriggle room in terms of making a lower offer and saving some money.   

 

Long term  

Buying a house is a long-term investment for most of us and even large drops in value will not create big gains or losses.  

For example, if you buy a house for £200,000, typically the deposit is 10%, £20,000. 

If you plan is to wait thinking house prices will drop by 10% you have saved £2000, in terms of a deposit. In a long-term investment this is not a significant amount of money.   

And if the worst happens and you buy a house tomorrow and house prices suddenly drop by 10% unless you are planning on selling within the next 2 years, with house prices set to rise again in 2025 then again realistically you have lost £2000, temporarily before gaining again.  

In both the above scenarios, in the long term, you will still gain.   

 

Conclusion 

The future looks good, yet even if there is sudden drop in the grand scheme of things, it’s not such bad thing! In fact, does it even matter? What’s important is finding a house you can call home and cherish the memories you make in it.  

 

CTA - Looking your first home or your forever home? Browse our properties.   

 

*TheTimes 

 

 

 

Summer is nearly here, and the opportunities to expand your property portfolio or take your first steps on the buy-to-let ladder are vast. So take a glance at some of the following great reasons why now is the time to make a great investment.

Demand is soaring
The demand for rented property is huge and continues to grow, with demand spiking by 250% above the five-year average per available rental home last year.* It’s old news and new news! The demand for rented property is huge. With people taking longer to get on the property ladder. Long-term demand due to the shortage of rental property will remain strong for a long time.

Rents are increasing
Your investment is secure. Rents have increased by 20% in the past three years, increasing by 11.1% in the past twelve months to March 2023.* The buy-to-let industry can be very lucrative, and with higher demand, higher rent revenues can be achieved. This allows you to invest in your property and meet legislative changes when it comes to making homes greener.

Buy-to-let mortgage choice is increasing
Expanding your portfolio can be easily financed. There are over 2,400 different mortgage deals available if you are buying a property to let!* So you have lots of options. There is talk of interest rates coming down, and while they are currently higher than they have been for the past few years, slowly but surely they are falling, which means you can expand using equity in your existing property to buy.

A bigger choice of properties
With some landlords retiring, there is a large choice of ready-to-let rental properties coming to the market. The standard of homes has generally risen, with many sprouting up for sale at this busy time of year. Many people put off moving in the latter part of 2022 and, during the pandemic, spent a lot of time and money getting their homes in tip-top shape. This means there have never been so many great houses on the market that are ideal for the rental market.

Greener, more energy-efficient compact homes
Renters are now more concerned about their monthly energy bills, and if your rental property is energy efficient, it will enjoy even more demand compared with less energy-efficient properties. Getting ahead of the legislation and creating greener homes is really just stepping into the future. So making your home more energy-efficient today will save you money tomorrow.

The age range of renters is changing
The population in the UK is ageing, and unlike the past, older people are renting now as much as younger people starting out on their property journey. This is yet another great opportunity to meet the demand for a niche in the market by targeting this sector.

Holiday lets
With so many tourists now travelling to the UK and so many people choosing to holiday at home, there is always great demand for holiday homes. And the good news is that you can charge a very healthy sum, which makes for a great investment.

Student sector
With more overseas students needing a place to rent, demand here has accelerated rapidly in recent years. This creates yet another opportunity among many to expand and launch your buy-to-let portfolio.

The property buying market
Homes are selling well right now, particularly smaller homes, but if you want to buy a bigger home in the current market conditions, you will have more scope to negotiate when making an offer. Larger properties are full of potential to earn great levels of rent revenue or could be developed into flats or smaller properties, increasing your rent revenue streams.

Get in touch to see how we can help create a property investment portfolio for a great return on investment.

Zoopla*

 

Summer is not all about the garden, although for most homeowners in the UK, it’s hugely important. The garden is as important – and for many, more important – than any room in the house. Outdoor living spaces are right up there in the ranks of what makes an amazing home. A good outdoor living area can add £10,000 to the value of your home.* The trick is to seamlessly blend the outdoors with the indoors. In many ways, it’s like adding another room to your home, and you have real freedom to create something special that adds to the quality of life in your home. Increasing feelings of wellbeing and providing an ideal place to relax, outdoor living spaces are what you make of them.

Design your outdoor living area your own way
There are no rules when it comes to creating your perfect outdoor living space. But there is one principle you should follow, no matter what your property plans are. Create it your own way. And today you are spoiled for choice. From outdoor heaters, pizza ovens, beautiful fire pits, decking, aluminium structures, and outdoor tiles to traditional paved-style patios and stones and gravel seating areas. That’s just for starters; you also have the little details that, once you have decided on the fundamentals, will embellish and elevate your newfound space. From candles to lighting – the planted kind, post lights, and lanterns—mirrors, garden sculpture, hammocks, outdoor stoves, and more.

Think outside the box
Are you a film buff? Buy a projector and set it up on a whitewashed wall! Perhaps you are more sporting and love the idea of watching the footy or the F1 on an outdoor screen. Invite your friends over and make a night of it. Everyone has their own unique tastes, and maybe you would rather grow flowers or grapes on a veranda.

Don’t worry about adding value
It’s so easy to become obsessed with the value of your property. Don’t think about this too much; if you create an outdoor space with an air of quality, then this will take care of itself. It’s also important not to overspend. If you are creating a path to the garden from the decking and you are on a budget, use stones; they are cheaper and require less labour.

You can have more than one!
Who’s to say you can’t have more than one outdoor living space? Build decking and a patio near the rear of your home, with a path leading to tables and chairs and a stove for the winter at the bottom of the garden. Then you have a place to soak up the sun and another to hide from the rain. Add heaters, and you can have an outdoor work-from-home space!

Hire the right help and build it to last
Maybe you can do some of the work yourself; perhaps you need to hire help for it all. Whichever approach you take, build your outdoor space to last. It will help when it comes to retaining the added value of your home. And it will look good and be a nicer place to enjoy. So if you lay decking and install trellises, treat them so they look good for years. Fusing your garden with outdoor spaces is easy, but remember that your garden will have to be maintained, so plan its design with maintenance in mind.

Leave a little scope for new ideas!
Perhaps this will become a long-term project, so do it in stages. There is always a new trend and new ideas, and leaving a little space to perfect, improve, or build on what you have leaves a little potential for buyers to add their own mark.

Browse our properties to find a home with your perfect outdoor living space, and you could be moved in time for summer.

Eliteoutdoorliving*

 

In essence, a fully managed letting service simplifies your life as a landlord. Simply buy a property, then let your letting agent take care of everything else while you take a step back, enjoy your life, and get a good return on your property investment! Like so much in life, there is more to being a landlord than meets the eye.

So what does a fully managed letting service provide?
Making sure your property is fully compliant with legislation is in itself a huge benefit of a managed service. It’s imperative to get this right; otherwise, you could face fines. This will save you from constantly keeping an eye on the latest legislative changes along with finding tenants and other potentially stressful work that goes into being a landlord.

Advertising your property
This is important if you want the best possible rental income for your property. Getting the right advice will get your property in tip-top shape and looking its best with an established agent who will most likely have tenants ready and waiting.

Taking care of tenant viewings
Once your property is ready to be viewed, the last thing you want to do is spend your valuable time arranging viewings and showing potential tenants your property.

Finding your tenants and getting references
With the chronic shortage of rental properties on the market, there will be plenty of tenants who want to rent your property. You want to protect your investment, and you will need references—yet another layer of paperwork removed from your busy life.

Organising inventory
No doubt, even if you let your property as unfurnished, you will need an inventory of all items in the property that belong to it, and as such, you do not want them to go missing or get damaged.

The preparation of tenancy agreements and documents
You will need a good contract spelling out the terms of your rental agreement. This protects you and your tenant and is essential to avoiding disputes. It should include details such as the term of the contract, your name as the landlord, whether the rent includes bills or council tax, and more, and should be signed by you as the landlord and your tenants.

The registration of your tenant’s deposit
It’s a legal requirement to deposit your tenant's deposit in a government scheme within thirty days of receiving it.

Rent collection
This is important because, when all is said and done, you are letting your property to receive rent, and having a reliable collection service offers great peace of mind.

Property inspections
If you have good tenants, then this is not always essential, and you must give them twenty-four hours' notice before inspecting the property. Doing this yourself can be time-consuming and a little awkward.

Maintenance
This can be both time-consuming and costly. Sometimes just finding the right help to carry out repairs and maintenance and having the resources at your fingertips that a managed letting service provides can prevent simple issues from becoming expensive repairs.

Arranging notice and finding new tenants
The time will come when your tenants may want to move on. You don’t want your property sitting around gathering dust; you want tenants back in as soon as possible. Plus, there is the planning and paperwork involved in arranging a notice period.

Disputes and final inspections
This can get complicated, and having all the necessary steps in place prevents unwarranted disputes from occurring in the first place. And if they do occur, having an expert involved will stand you in good stead.

Get in touch today to see how we can manage all aspects of your buy-to-let property, so you can make the most of your property investment.

 

Buying a new build is becoming more appealing for many home buyers. While you may prefer the charm and character of older properties, many new builds seem to offer much more personality than in past years. Making your decision is not quite as straight-forward as it once was! There are many good reasons for choosing a new build home, so what are they?

Guarantees
Most new builds are sold with warranties of up to ten years. This protects you against any nasty surprises and unexpected costs. You certainly will not have to worry about plumbing or rewiring issues. Not to mention the stairs or reskimming walls compared with redecorating an older property.

Lower maintenance costs
Even after a few years of living in your new home, chances are you will not have anything to repair or maintain. Insulation, upgrading the boiler, even if you are contemplating fitting solar panels, you might find that these could be fitted before you move in. In the garden, you will only ever need to add to what is most likely quite basic; compare this to landscaping or the removal of an old patio or decking, and already you have saved significantly in costs.

Design it to your specifications
Often, new build homes are not built before you move in! This means you can decide on things like kitchen design, tiling and colour schemes for the bathroom, and the locations of sockets. You will most likely get options for landscaping the garden too.

Energy efficiency
Most new builds have good EPC (Energy Performance Certificate) ratings of A and B, making your monthly energy bills cheaper than those of some older homes, which achieve less energy efficiency. That’s not to say you can’t find an older home with a good rating, and energy consumption will also depend heavily on the energy ratings of your appliances.

The appeal of a brand-new home
A bit like buying a new car, for some people, owning a home that nobody else has lived in is an appealing prospect. You will be the first to enjoy everything that is brand new, from floor to ceiling, not to mention the new kitchen and bathroom. This will make it feel a bit more exclusive, but on the other hand, often new builds are part of larger developments and are quite similar even if created to your own specifications.

No chain
Another big advantage of buying a new build is that it's chain-free. That means you could spend less time waiting to move in, provided you have the financing in place. That said, there is no guarantee that this will be a faster process. It largely depends on how quickly your new home is built. And that depends on how soon you purchase it!

With no resident seller, rely on your agent
A good move to make for added peace of mind is to buy through a trusted agent. The home-moving process can be stressful, and with no resident seller, you want to rely on an established and experienced team you can trust.

Are you thinking more and more about buying a new build? Get in touch to see how we can help.

 

You want your home to stand out, whether it’s first seen by your buyers in an image or from the kerb. That first glance is important. If the rest of your home is in great condition, the last thing you want to do is alienate potential buyers by neglecting the front of your home and creating the wrong impression.

The front door
If it’s wooden, give it a coat of paint and polish the metal work. If it’s really worn and damaged, consider replacing it. Sometimes darker colours will make your front door pop, so that when your home is viewed and welcomes potential buyers, they immediately feel good before entering your home.

The front lawn
Make sure the grass is green and trim. Use grass feed if there are any patches. Sweep and weed any paths or patio areas. If possible, use a jet wash to make your paving look like new again.

Clean your widows
Get your window cleaner to give your windows a good clean in time for viewings and pictures for your agent. Don’t forget your window frames; make the front of your house pop with the right colours; and repair any blemishes.

Add some paint
The front of your home will benefit from a coat of good paint. Check the pointing. Perhaps your home does not need any paint; don’t forget gates, fences, walls, and guttering. The little things all add up to make a big impact.

Flowers and plants
At this time of year, adding some vibrancy with a dash of colour will really help your home stand out. Less is more, and not everyone is passionate about the same flowers and plants, so be subtle and keep what you have in pristine order.

Furniture
Even if you have a small, terraced house with little space out the front, a small seating area can add to its appeal. For larger homes, create a vision of outdoor living that is just a taste of the splendour that will later appear, perhaps in the outdoor living space located at the rear of your property.

Conceal wiring or utility boxes
If possible, don’t allow all your hard work to be affected by unsightly wiring or an electrical, gas, or rusty mailbox. Get in touch with your energy supplier if it needs replacing, or simply give it a good cleaning.

Summer symmetry
Some things work best in pairs, and when it comes to making an entrance, a pair of ornamental flowerpots on each side of the door can do the trick. Lighting can also have the same effect as flower boxes.

Finishing touches
Hanging a summer wreath can really add some colour and show your new buyers that you love your home.

Will all of this add value to your home?
Yes. Anything that makes your home appear cared for and loved will help other people fall in love with it. While it will not drastically increase the value of your home, you may be pleasantly surprised.

Contact us today so we can guide you to the front door of your happy place.

 

There is no doubt that even in this sometimes-rainy climate, alfresco dining has increased. Outdoor living spaces are what you make them, and today, the scope for creating your perfect outdoor space is limitless. An outdoor kitchen makes a lot of sense for a UK-based property because it creates a sheltered area for you to enjoy even if the weather is changeable.

Add a pergola
A good move is to build a pergola to shelter your kitchen; that way, you could potentially use it all year. Place your kitchen against your garden wall or simply arrange it however it feels comfortable for you, but keep in mind that you want your outdoor kitchen to be a sociable space so you and your guests, family, or friends can chat and get involved in your evening.

The size of your space is not important
You don’t need to have a vast outdoor space to build an outdoor kitchen; in fact, sometimes the more compact the space, the better. There are a huge variety of ovens, barbecues, and electric hobs to choose from. Anything goes, so design it your own way. If pizza and wood are your preferences, consider building your kitchen with wood, leaving space for a pizza oven.

Build around the barbeque
Perhaps you like a traditional, real charcoal barbecue. Build your own barbeque using bricks and match them with some walls that will support your food preparation areas. You may decide to make your work surfaces moveable so that they can be stored in the shed during the winter months. On the other hand, you may own a feature barbeque, and that could be the centrepiece of your kitchen.

Make it a moveable feast
Using free-standing tables or wheeled furniture is ideal if you are planning on setting up your kitchen for a few months, a few hours, or forever. If you love tiles, then tile a table or source one. There are plenty of furnishing options that can complement your dining table.

Two in one
If you have always liked the idea of having a bar in your garden or outdoor living space, consider building it large enough so that it could also serve as a kitchen. That way, you will have solved two problems with one simple solution. Build it yourself or buy it, then stain it, and it will last for years. Add some bar stools to make it a social hub for your friends and family.

If you build, do you need planning permission?
The short answer to this question is no, as long as you don’t exceed 2.5 metres in height and your structure is less than 2 metres from your property. The positive aspect of building something more solid is its durability and all-year-round usability. Add an outdoor heater or log burner, and you could feast even when it snows!

Will an outdoor kitchen add value to your home?
Any improvements you make to the outdoor living spaces of your home will most definitely add to its value. Creating outdoor spaces that seamlessly flow from your home's indoor living spaces is becoming a must have. No longer an unattainable luxury, making them highly desirable and sought-after.

Browse our properties to find a home with the perfect indoor and outdoor living spaces for you.

 

The demand for your rental property is huge right now, having increased by 10% again this year on the back of years of soaring demand.* As a landlord, you want to maximise your return on investment by achieving the best possible rent for your property. You also want to secure your investment and build a good relationship with tenants.

Location
Before buying, think about your potential tenants. Proximity to hospitals, schools, transport links, or universities may help define your target tenant. If you have already bought, remember that location is a great plus when attracting tenants.

The nicer your property the nicer your tenants
Decorate your property to the highest possible standard. Keep a neutral theme using safe colours. If there is room in your budget to improve the kitchen, flooring, and bathroom, do so. Just be careful not to overspend. A well-presented property in good condition will fetch more than a less well-prepared property. Typically, a nicer property will attract better tenants who will look after it if it’s in great condition.

Make your property as attractive as possible
When it comes to advertising your property, make sure it is clean and in tip-top shape, with all issues that need addressing sorted. Good pictures of beautiful properties will help you find great tenants quickly and fetch a better rent, while most likely creating a home that your tenants will want to keep renting. This ensures your investment.

Move with the times
Install USB sockets, energy-efficient appliances, and LED lighting. Smart meters, good insulation. Anything you can do to improve the energy efficiency of your property are in everybody’s interest. Many tenants are concerned about the cost of bills at the end of each month and will pay more in rent for a more efficient home.

The value of a great letting agent
A good letting agent will find the right tenants for your property. Whether you are renting one home or have a large property portfolio, a managed service is a smart move to make. You can choose what level of managed service you want. Finding good tenants and taking care of references, deposits, and everything from maintenance to inspections is no easy task. With a managed letting service, your investment is in safe hands, leaving you with more time for the more important things in life.

A managed letting service is the best way to move forward
As the Renters Reform Bill passes through Parliament, the future of letting your property will improve. The entire industry is being overhauled, making life easier for good tenants and good landlords. Bad landlords will find themselves forced to improve their practises. By using a managed letting service, you are already halfway to achieving great returns while minimising risk. Meeting all the current legislative changes is not something to be feared. Having an expert on your side so you can make the most of these changes ensures that your investment will thrive.

Are you a landlord, or do you want to take your first steps on the buy-to-let ladder?

Contact us today so your investment can flourish.

Zoopla*

 

Summer is the perfect time to prepare your home for a speedy sale. Homes seem to blossom at this time of year, and when all your hard work is done, the sun illuminates and makes your home look like a picture. Sometimes it’s a question of having the time to get all those little jobs done. For others, it’s knowing when to stop. So, wherever you are on the spectrum, here are a few ideas to consider that will help add to the value of your home.

Increase the kerb appeal of your home
The front of your home is what will welcome your buyers, and many people make a big part of their buying decision on first glance. Does it look welcoming and in good order? Get rid of any weeds on the paths. Clean the windows and the front door. Consider replacing it if it’s a cost-effective move to make. Add some flowers, mow the lawn, and give it a lick of paint if it’s needed.

The garden and outdoor living spaces
Take a good look at your garden; it’s considered by many buyers to be as important as any room in the house. Keep it trim and in order, and make the most of those finishing touches, such as solar lighting or cushions for the garden furniture. Does the patio need weeding, or the decking need re-staining? Arrange your furniture, flowerboxes, or outdoor space so that it looks welcoming and ready to be lived in while decluttering any unnecessaries like the kids’ toys or football!

A splash of paint
Inside your home, a splash of paint adds a new lease on life to your walls and can be mood-altering, putting your buyers in the mood to move. It could be that you only need the odd splash here and there to get rid of any blemishes. If you are painting entire rooms, think neutral colours that will add light and a feeling of space. Remember the golden rule: If it’s not needed, don’t waste your money.

Clean and declutter
Your home needs to look like the best version of itself. A cost-free way of doing this is to simply give your home a good cleaning. Have a good sort-out; it will stand to you when it comes to moving. Pay particular attention to the kitchen work surfaces, the bathroom, and the sitting room. This will create a nice feeling of space.

Let the light in
Draw back the curtains, let in as much light as possible, and hang a few mirrors to create an allusion of space. Add some flowers and dial your home into the summer season. A few brightly coloured cushions or plants can add some vibrancy to your cleaner and brighter home, making it more appealing.

Small repairs
Now is the time to get all those niggling issues sorted, from the cracked skirting board to the scorched tap. A few new seals in the bathroom, or better yet, regrouting or resealing around the tiles, can add a new lease of life to your bathroom or kitchen and make a big impact for not a lot of money.

Bigger ideas
Perhaps your garden could be transformed by adding decking; suddenly you will have added an outdoor living space. Consider installing new windows or a revamped porch. Perhaps, after careful consideration of costs, you could make the kitchen and dining room open-plan? Talk to your agent if you think you will get more than the cost of completing the work when it comes to selling; maybe it’s worth doing. The choice is yours, and the possibilities are endless. A good chat with your local agent is always a good place to start.

Get in touch today to see how we can help you achieve a great asking price for your home this summer.