March 2023 - Property Articles

7 good reasons to be positive about the 2023 property market

 

Positivity is like a fresh spring breeze; it just makes you feel good and clears your head! With so much negativity bandied about in the media, with sensationalist headlines, it’s easy to become worn down by all the doom and gloom. Your head becomes clogged with confusion, which is almost as uncomfortable as a winter cold. On the other hand, you are an optimist and want to move forward based on informed choices and good reasoning.

 

The housing market is built on good foundations

A significantly large part of property sales are cash buyers and buyers borrowing less than 50% of the value of their property.* This is hard to hear for those of us who have to borrow much more to progress on the property ladder. However, the good side to this is that it helps stabilise the property market and the wider economy. Unlike so many other sectors of public and private borrowing, the house of cards scenario is not as precarious!

 

A stable and secure borrowing and property market

It’s now widely accepted that while interest rates are higher than they have been over the years, they are set at more realistic levels. It’s comparable to responsible lending; prior to this, borrowers could almost borrow as much as they wanted, leading to big repayment problems during the banking crisis.

Since the introduction of responsible lending, the future is less susceptible to the perils of overborrowing. Interest rates may be higher, but the result is a more stable borrowing market and a more stable housing market. Interest rates are stabilizing, and even if there are more adjustments to the base rate, a small increase will not affect your mortgage interest rates.

 

 

House prices remain resilient without soaring, with good long-term growth

House prices are no longer soaring towards the sky or dropping through the floorboards. Instead, due to low supply and high demand and good levels of employment, prices are realistically stable. When it comes to making an offer, there is also some room for price manoeuvring, while long-term growth prospects remain favourable.

 

First-time buyers

With 5% mortgages available to first-time buyers thanks to the government’s Mortgage Guarantee Scheme, extended until December 2023, there is a lot for first-time buyers to feel good about.

 

Demand for green homes is increasing

Homes are becoming greener and leaner, and as such, they are becoming more desirable. Houses that are more self-sufficient in terms of energy fetch higher prices than homes that are more expensive to run.

 

Homes are becoming more energy efficient

The government’s ECO+ scheme, due to start in April 2023, will run for three years and, with a pot of £1 billion, will give big energy suppliers the means to offer customers grants to make their homes more energy efficient by improving insulation.

 

The standard of homes has increased massively

It’s no secret that during the pandemic many homeowners spent a lot of time and money making home improvements. Today, as you get on the move, you can enjoy the fruits of all those labours and find a property that is in great condition; modernised, energy efficient, stylish, and ready to be lived in. All you have to do is enjoy it.

 

Make some positive steps towards buying the home you truly desire. Contact us for more information.

 

Zoopla*

 

8 tenant and landlord trends for 2023  

There is a lot going on in the 2023 letting market for both landlords and tenants. It’s important to be tuned in to what’s going on, no matter which side of the fence you are standing on. While demand for rented homes is high and ever-increasing, tenants are now more protected than ever. The mutually beneficial landlord-tenant relationship is becoming more structured. This has some significant advantages for both parties in what is becoming a more and more long-term relationship.

 

Increase in demand

Demand is increasing all the time for rented property, which is good news for landlords but perhaps a little frustrating when you are seeking a new place to call home. Enlisting the help of a good agent will help a great deal and save much time.

 

Tenants are renting for longer

Fewer first-time buyers due to the challenges of scraping together a deposit amid the cost-of-living crisis mean tenants are renting for longer. This is good for planning and investing in your future property plans, whether you are a landlord or tenant.

 

Some landlords are exiting the rental sector, creating new opportunities

It’s not easy for some landlords, new legislation and increasing costs, some are choosing to retire and enjoy life. This creates more opportunities for new landlords who invest in energy-efficient, modern homes, providing great places for tenants to live.

 

There are more older tenants

One of the reasons there is more demand for rented accommodation is because now more mature tenants rent than ever before, whereas the perception stemming from the past is that mainly younger people rent.

 

Tenants are paying more for energy-efficient homes

Greener homes are in demand. Landlords have a deadline of 2025 to meet the Energy Performance Certificate of C for newly let properties and until 2028 for existing let properties. More energy-efficient homes may cost a little more to rent but will save tenants on household bills.

 

Capital Gains Tax changes (CGT) for landlords

For the tax year 2023-2024, the tax-free allowance for Capital Gains Tax will be reduced from £12,300 to £6,000, and for the tax year 2024-2025, it will be fixed at £3,000. Relatively speaking, this is not a massive increase as it is based on a tax-free allowance.

 

More landlords are creating limited companies

With most landlords already choosing to form limited companies due to limited personal liability advantages, the number of landlords choosing this route will increase further as the rental market becomes more business oriented.

 

Standards are getting higher

As landlords are forced to upgrade energy efficiency and modernise their properties, the good news for them is that tenants are more content and likely to rent for longer, assuring landlords’ investments. Tenants get to enjoy modern, on-trend, energy-efficient, tech-friendly homes without making big capital investments. Renting is becoming an increasingly enticing prospect, and the future for tenants and landlords looks exciting.

 

Need a place to rent or looking for a buy-to-let investment? Get in touch.

A month of March memories for your home

March has a lot to offer when it comes to making happy family memories for you to cherish, especially in your home. All too often, when we view a potential home, we think of everything from price, location, how much we like the property, the size and aspect of the rooms, and its features. We become obsessed with décor, design, and monetary value. With so much going on in March, now is a good time to look at your home in a different light.

 

How does your home feel during some of the days that make March such an inspiring time of year?

 

Spring

Spring is a welcome release from the dark, cold days of winter and shows all of us proof that the darkness and cold really do not last forever and that things really can change! Change is something that we both love and despise as humans. Unless we are certain that it’s for the better. Is spring memorable in your home, or do you feel disconnected from the new forces of nature that show up in the form of flowers and wildlife? It’s important to feel connected to nature in your home. You only need to look at the effect that glass door walls have on blending the indoor and outdoor worlds, connecting you to nature with a single glance. Then, when you open the doors, an orchestra of nature and the scents of the garden waft into your home. It’s mood-altering and makes for a truly beautiful living experience.

 

Mother’s Day

Whether you are a mother, son, daughter, or partner helping to arrange the little details, from breakfast in bed to flowers. How well does your home befit the occasion? A dining room that feels special and unique marks not just this occasion but many memorable meals. Does each room work in conjunction with each other? Does the special ambience you create in the dining room flow to the sitting room?

 

Longer evenings and changing clocks

Your time is precious. Wouldn’t it be nice if you could just press pause every now and again to stretch out your evenings? Creating spaces in your home that allow you to relax quickly and appreciate the moment may not stop time itself. They will, however, slow time down as you become absorbed and tuned into the moment. Create a relaxing outdoor space where you can light candles with a view of the sky at sunset, add music, and then breathe. You can create such spaces in a variety of settings (such as your living room or bedroom) in your own unique way. Then you will become more connected to your surroundings and your home.

 

International Day of Happiness

Taking place in March, this is another great excuse to celebrate laughter and joy. But who needs an excuse? Take the time to create a home that makes you feel at one with, and it will take care of you, so happy moments become happy days and months for a better way of life.

 

Make a fresh start on your property search. This March, look for a home that will bring you a thousand happy memories. Browse our properties.

 

Buy-to-let investments. The perfect pension option!

Whether you are planning on retiring early, late, or not at all, investing in property is a very effective way to build a substantial retirement fund! The old saying is true: You only get out of life what you give. While it’s true that it requires more effort and organisation to prop up your pension fund with property, the benefits are well worth it.

 

Things to consider

There is little doubt that purchasing a house takes much more effort than simply paying a monthly figure into a pension fund. So here are a few things to keep in mind.

 

Buy in the right location

Location and understanding the market you are investing in are essential. You want to protect your investment, ideally enjoy good growth, and have a reliable and regular stream of rent. So do your research and invest in a property that will give you all these things in spades.

 

Stamp duty

When you purchase an additional property, you will pay 3% on top of the normal stamp duty rate.

 

You will need a 25% deposit

Applying for a buy-to-let mortgage is a little different from a conventional mortgage. Firstly, you typically need a 25% deposit. Many landlords also opt for an interest-only mortgage to keep monthly payments to a minimum. Then repay at the end of the term of the mortgage or make overpayments on the balance throughout the lifespan of the mortgage. The amount you can borrow is also based on what rent you can charge tenants, not what you earn. However, your lender will also take into consideration your income.

 

Lettings agent

A good lettings agent will make your life so much easier. There are plenty of options for levels of service. You may decide on a fully managed service or a basic level. The costs are relatively low, ranging from 10-15% of your monthly rental income.

 

The rewards

You gain more control over your pension when you invest in property, and the rewards compared with a conventional pension fund are greater and more tangible.

 

Good old bricks and mortar!

A good, solid investment in something as tangible as property is a pragmatic choice when it comes to long-term resilience. Stocks and shares can both fall and rise at the drop of a hat!

 

Property prices are on the long-term ascent

In the long term, property prices tend to rise. If you want proof, you only have to look into the past. While prices can fluctuate in the short term, in the long term they steadily grow, increasing the value of your retirement fund.

 

Rental income

The value of your pension will increase as you pay your buy-to-let mortgage. Adding to this, any increases in the value of your property and rental income and you are well on your way to creating a substantial retirement fund. To achieve this, investing wisely is key, so that your monthly rent exceeds your monthly costs and a profit is made.

 

A versatile investment

Investing in property gives you more options. For example, if you want to release equity, your property investment should recover more rapidly than paying into a conventional pension plan. It's good to know when you need to get your hands on some cash. Owning an animate object to gift to loved ones will keep you busy while enjoying a project, hobby, and solid investment. Property can be a fun and interesting way to prepare for your retirement.

 

Looking for the ideal property investment to secure your future? Contact us to see how we can help.

Can’t wait to on get on the property ladder?

Getting on the property ladder is all about getting started, and there are so many ways to do just that. With so much to spend your money on, whether it’s traveling, socializing, or all of the above. Finding the means of saving a deposit is no mean feat. A growing proportion of first-time buyers are now choosing to buy with friends. The process is a little more complicated, so it’s important to go about things the right way.

 

You can buy with up to four people

Up to four people can put their names on the deed, so even if you're a far cry from getting together a large enough deposit to buy a home completely independently, you could be closer to owning your first home than you think.

 

Tenants in common

This is the most popular form of agreement and allows each person you buy a property with to own different shares in the property, and you can pass on your share of the property in your will. This differs from "joint tenants," which means you have equal rights to the entire property and can’t pass on your share in a will.

 

The less, the merrier!

Perhaps you believe that the more, the merrier! It certainly will reduce the cost of your mortgage payments. However, it’s worth noting that if one of your house co-owners can’t pay their share of the mortgage, then the rest of you are liable. Needless to say, the fewer people involved, the simpler the arrangements.

 

Borrowing

Most high-street lenders will gladly lend to two buyers; however, the options for mortgages with four buyers are more limited.

 

Have an exit plan

It’s important to set out in a contract a good get-out clause covering the circumstances in which the property can be sold. Include how the profits from such a sale would be divided if certain individuals invested in its development, as well as anything else you feel is relevant. Then, when the time comes to sell up and buy your own house independently, the process is as seamless as possible.

 

Finding the right home

It’s important to find the right home that everybody is going to be happy with. Location is key to keeping the peace. The minor details of bedroom allocation are critical when purchasing a home in which you and your co-owners will be happy and thrive.

 

The doorway to owning your own home

Buying a home with your friends is a great way of rapidly speeding up your next steps on the property ladder. Taking house prices out of the equation, as you pay your mortgage and build up equity, you are effectively saving a deposit for your own home.

 

Find a great home for you and your friends and get on the property ladder now! Browse our properties.

Do you buy a home with your heart or your head?

Logic and emotion are often at loggerheads when it comes to house buying! Entering a house that gives you that special feeling is one of life’s greatest pleasures. You loved the appearance of the house online, and you were not disappointed when you saw it in the cold light of day. You take a step inside, and the magic begins. It all just feels right.

 

You can see yourself living there, and you have a warm feeling inside your chest as you go from room to room; already, you imagine waking up feeling content in the bedroom because you love the view from the window and the feeling of space. The kitchen is perfect for the entire family, and in your mind, they are already sitting around the table. The fire is so inviting; the garden needs work, but you already have a vision of how to make it splendidly your own.

 

Despite all of this, you return to your current house, your mind still creating scenarios and teeming with happy images of a better life in a nicer home, and you stop in your tracks. You have run the numbers, and even though logically you can afford to move, the internal battle between your head and your heart begins.

 

Don’t ignore your head

It’s important that the numbers crunch correctly. You have to be able to afford your new home! But do not become obsessed by what-ifs and market trends. Many people have made the mistake of losing the house they love while waiting to see what happens to house prices, just in case they drop or rise. It really makes very little difference. House prices fluctuate by small amounts in the short term and grow significantly in the long term. The sooner you start paying your mortgage on the property you want, the better. Logically, this will save you more money in the long run.

 

Listen to your heart

Ultimately, for true home happiness, you have to listen to your heart. Given that you can afford the home you really want, it’s important to open up and tune into your emotions. Learn to trust them; they are there for a reason. Few other events in your life will create such feelings of desire, contentment, safety, passion, happiness, fulfilment, and security. If you are a little scared, that’s perfectly healthy, but do not let it dominate your decision or cloud your logic.

 

A happy beginning!

There is nothing wrong with allowing your heart to rule your head when it comes to home moving. Just keep the logical stuff simple, and then allow your heart to do the rest. Then, finally, after you have taken the plunge, having not purely based your decision on a mere impulse, you can start making priceless happy memories.

 

Finding emotional fulfilment in your home is a logical step!

Logically, emotional fulfilment is important financially. The rest of your life will function so much better if you are living in a home that makes you and your family happy. The health benefits that positive emotions bring, not to mention reduced stress levels and quality downtime, will benefit you throughout your entire life.

 

Finding the right home is really important to us because we know what it means to you. Get in touch to see how we can help in your home search.

Energy-efficient homes are in big demand - Here’s how you can improve yours

Unlike many other things in your life, when it comes to your home, there is a lot you can do to save on energy costs. Food costs are spiralling, and while you can grow some things, it’s most likely you can’t grow all you want. The price of cars has also gone up, as have the prices of many other consumables and raw materials, and yet again, there is not much you can do about it.

 

Many of us lament the cost-of-living crisis and feel helpless in the face of such adversity. So here are some quick fixes and big improvements you can undertake to increase the energy efficiency of your home while at the same time adding to its value.

 

Quick fixes

• Install a smart meter: this can be supplied by your energy provider, so you can see exactly how much energy you use.
• Loft insulation: this is a simple way to keep heat from escaping your home and can save you a lot of money on heating bills. It is something you could do yourself with the right protective equipment, but don’t fall through the roof! Perhaps you don’t feel up to it after all? Don’t worry; there are many specialists who can do this for you.
• Collect rainwater for the garden: by collecting rainwater in your garden in a butt, a barrel or an all-singing, all-dancing water tank complete with a pump. Whichever you choose, you are making your garden greener by harvesting rainwater!
• Low-flow showerhead: you can buy one of these for less than £20 and install it in minutes by simply unscrewing your old showerhead and replacing it. Being more efficient could mean you use your boiler a little less, too.
• Energy-efficient light bulbs: they might be a little more expensive, but they will save up to 80% on energy use and last up to ten years!

Big improvements

• Install a new boiler: improve your energy performance certificate with a new boiler. Having an old boiler will put buyers off, and the value of your home will increase sufficiently to cover the costs of a new boiler.
• Air source heat pump: with government grants making this option more affordable, heat pumps are becoming more popular. British Gas offers a complete fitting service.
• Triple-glazed windows: this will improve your home's energy rating further. Your home loses a lot of energy as heat escapes through the windows. When they are clean, windows allow a lot of heat from the sun to enter. Triple-glazed windows trap that heat more efficiently, saving you money on the energy you use to heat your home.
• Photovoltaic solar panels: as solar panels become more popular, we are all becoming more aware of them. Less well-known are photovoltaic solar panels, which work even when it’s cloudy—perfect for the UK! Did you know you could sell the electricity they generate back to your local energy supplier, potentially making them pay for themselves?
• Hot water solar panels: placed on the roof like traditional solar panels, they heat the water for your shower, bath, and kitchen sink!
• Install a wind turbine: we see them dotted all over the countryside, but perhaps surprisingly, you can buy smaller versions for your home that will create enough electricity to run your entire home.

Find a good deal

Many of these quick fixes and bigger home improvements are eligible for government assistance depending on different criteria, and there are some good deals to be had with energy suppliers and local businesses, so it’s always worth a look online to check out the latest deals.

 

Looking to move to a more energy-efficient home? Want to know how much value you have added by improving the energy efficiency of your home? Book a valuation.

Let your garden grow the value of your home this spring

It’s gardening season again at last, and the longer, lighter days of spring are giving a taste of the warmer summer days and nights soon to come. Whether you are a complete novice or a fanatic, there is no denying that almost anything you do, big or small, will make your home a much nicer place to be for you, your family, and friends.

 

UK homeowners appreciate a good garden. Research revealed that 50% of homeowners in Britain placed as much, if not more, importance on a well-designed garden as they do on a well-designed bathroom or kitchen.* As a result, this can add some serious value to the price of a home. Here are a few ideas to inspire you.

 

Let’s start with the basics

Enjoy the fresh spring breeze and keep the grass trimmed, weed the flower beds or patio, and paint any fences, sheds, or woodwork that needs a new lease on life. Then stand back and enjoy it. If you do nothing else, this will make your home far more appealing.

 

Grow up!

If space is scarce and you have no garden, consider growing up. Vertical gardens are on trend this year and will add colour, scents, and flowers to an otherwise empty space. Low maintenance and beautiful on a patio even if you have a large garden. Simply arrange planter boxes in a stack and plant what you love.

 

Growing your own flowers

A big trend for 2023 is growing flowers you can arrange into your own bouquets. Choose easy-to-grow flowers such as sunflowers, marigolds, or hardy geraniums.

 

Meadows

Bright, colourful gardens with a bit of everything going on are the way forward. Replace neat and trimmed lawns with the wilder look of meadows. That’s not to say you can't have some nice, neat, green grass and a herb garden too.

 

Furniture

Incorporating metallics, copper, and marble at the high end of the market is a desirable and on-trend way to create an amazing place to sit and enjoy good company in the garden. Or simply create privacy using wood. A simple bench or table using reclaimed wood can add something special without costing much.

 

Hard landscaping

Water features, patios, simple paths winding you through your imagined creation aligned with flowers, fruit trees, or a trellis to the decking that catches the sun.

 

Good outside storage

Good storage is desirable when it comes to creating a good garden. Store everything from your tools to the fire pit, you bring out at night to enjoy your garden under the stars. Perhaps with some lanterns, solar lights, garden spotlights, or wall lights, the possibilities are endless!

 

Find the home you love with the garden you have been searching for. Get in touch to see how we can help.

Zoopla*

Freshen up your rental property this spring

Spring is a time for change; it’s warmer, summer is on the way, and daffodils start blossoming, bringing more brightness to the extra light of longer days. Wildlife steps into action, and so can you when it comes to improving your natural habitat! Whether you let a property or rent a property, sometimes the challenge is to make changes with the seasons that don’t cost the earth.

 

Bedrooms

A great way to freshen up your bedrooms is to change the bedding. Choose bright, positive colours that reflect the season. Add some light. If you are a landlord, consider freshening up the walls with a fresh coat of paint. Fresh flowers are best—a single tulip can achieve a lot, but realistically, some dried flowers placed on the windowsill add a blast of cheery colour and vibrancy to stimulate your senses.

 

Kitchen

The kitchen is the central hub of most homes, so it gets the most use and will benefit from a good spring clean and declutter. But if you can do more, consider retiling, painting, or replacing worktops and cabinets. Lighting can really add to the feeling of space; perhaps change the blinds. Some potted herbs grow nicely in the kitchen and offer enticing scents while adding colour. They are also handy to have close at hand when you are cooking up a seasonal treat. Tomato plants will also grow nicely on your kitchen windowsill, and come mid-summer, you'll save on your food bill!

 

Gardening and outdoor living

The possibilities here are endless, even if you rent. Get out in the garden and plant a few flowers or trees. Maybe buy, or even better, make, some garden furniture and start thinking about how you want to enjoy a summer’s night: in front of a fire pit, stove, pizza oven, or maybe you would prefer to barbeque. Simply clean up, cut the grass, and plant a herb garden. If you want low maintenance, plant some solar-powered lights instead! As a landlord, you will not want to get too carried away in the garden, so keep it simple and make it a nice place to be. Create a nice outdoor dining area or sundeck to keep your tenants happy.

 

The sitting room

The sitting room will become less of a cosy place to hibernate and more of a light, airy, and fresh place to chill out. Add a few mirrors and maybe some artwork to the wall. If you have a fire, you may opt for more candles with seasonal scents, so it will smell like spring or summer as you no longer need the heat from the fire quite as much. Rugs can also add a lot of colour, whether on the floor or on the wall; the effect is the same. Plants are a great way to add colour and, quite literally, breathe some fresh life into your living room. There are a host of new and exotic choices that will add vibrancy in spades and help you relax after a hard day.

 

Don’t forget the bathroom

A simple spruce up with some new towels, new fixtures such as a soap dish, another mirror, or some rustic shelving to place some bath salts and more plants! Re-grout between the tiles; any little bit you do will have a big impact.

 

Welcome home!

The front of your home should always greet you with a warm welcome, so make it happen with flowerpots, a neat and tidy weedless facia, clean windows, and a shiny front door!

 

Get in touch to see how we can help you find the place where you want to be when it comes to property.

Investing in property? Here are 10 top tips!

Investing in property can be highly lucrative, and the best way to enjoy it and make it as profitable as possible is to know your stuff. Like so much in life, there is an element of luck involved, and to a certain degree, you make your own luck. That said, if you like to err on the side of caution, investing in property can give you a lot of security. There is also vast scope for creativity; whichever approach you take, do it your own way.

 

Decide

Sometimes the biggest obstacle to doing anything is simply deciding what you are going to do! In the world of property investment, you are spoiled for choice, and each property offers unique opportunities. So before you make up your mind, consider these tips. Then remember the golden rule: always leave a bit of space for manoeuvring in case your plans change!

 

Buy-to-let or buy-to-sell?

Do you want to be a property developer or a landlord? There is a constant stream of homes arriving on the market that need modernising or updating. Once completed, who says you can’t do both? Let your refurbished property for a few years, then sell it for a profit!

 

Get to know the market

Ideally, try to buy in an up-and-coming area. The scope for growth in value is greater. This does not mean you have to find an amazingly exclusive area enjoying mega growth. Often, an area that is moving forward and steadily improving is just the ticket when finding an affordable property. Spend a little time getting to know the areas you are considering investing in.

 

Have a plan

Planning is a good way to keep you on the right road. Make lists and make notes for moving, refurbishments, and costing, include calculations for rental yields and a list of legal requirements, and tick each step off one by one as there is a lot to remember.

 

Familiarize yourself with the law

Certain safety standards must be met; these can include smoke alarms, gas certificates, portable appliance testing, an Energy Performance Certificate, and building control certificates for structural alterations. If you let your property, you must conduct Right to Rent checks as a landlord.

 

Insurance

If you let your property, this is a no-brainer. There are so many policies you can opt for, from malicious damage by tenants to loss of rental income. Make sure any tradespeople working on your property have the correct insurance.

 

Building contractors

Finding the right tradespeople to create your property vision can mean the difference between making a good profit and losing money because they don't finish on time.

 

Budget

If you plan to let your property, calculate the rental yield, which will help you calculate your return on investment (ROI). There are many rental yield calculators available online. If you are developing a property, create a spreadsheet or use a property development budget template. Always leave a little aside for the unexpected.

 

Make the most of your property’s space

Renting or selling make the most of the space you have. More rooms mean more rent or a higher selling price. Have you thought of converting a modest-sized home into flats?

 

Stay on-trend

When you decide to short-term let, flip, or buy to long-term let, extend, let holiday homes, convert, refurbish, or invest in green, professional, or student sectors, stay clued in to everything from interior decor (keep things neutral and simple) to changes in the law and the latest property market trends.

 

Are you looking for a fully managed lettings service to protect and grow your property investment? Or are you looking for a great investment opportunity? Get in touch.

Spring 2023 promises more choice for the housing market

There is nothing quite like spring, with thawing winter frosts heralding the imminent arrival of summer and longer evenings. 2023 will allow you to drink all this in and enjoy these inspirational moments all the more. The same can be said of your property search. With houses no longer selling like there’s no tomorrow, unlike the rather uncomfortable rush of the past couple of years. You can finally breathe, take a little time, and find the home you love.

 

A little more housing stock means house prices are not spiralling

Be in no doubt: there is still a housing drought in the UK property market, helping keep prices buoyant. Demand still far outweighs supply. However, with stocks replenishing a little as the market calms so do house prices. You no longer have to race to the first possible viewing to compete with other buyers and make offers over the asking price. The result is that house prices are not spiralling too quickly. Instead, house-buying conditions are more settled and compatible with a secure future.

 

Quality time spent with your agent and your potential new home

Sometimes too much choice makes it harder to make up your mind! Have you ever found yourself wishing you could have the kitchen from your first viewing in the location or with the garden from another viewing? The guidance, inspiration, and seasoned yet informed input of a good agent will help your vision become an adventure that surpasses your expectations. Reality is often more beautiful and awe-inspiring than your dreams, and you could end up with a far better home than you ever imagined.

 

More choice gives you more inspiration

Inspiration and choice go hand in hand. View and explore the feelings inspired by other homes. Physical viewings will yield to your imagination myriad ideas to help you truly understand what you are looking for. In many ways your new home picks you, and the more homes you view the greater the chances of finding your true home destiny.

 

Live the house dream

Perhaps one of the greatest incarnations of a dream is buying and moving into the home you have wanted for so long. You get live inside your vision. When this happens, the feeling of elation is unique and unforgettable. The house you choose will be the place to witness so many happy memories while protecting you from the elements and challenges of the world outside. You don’t want to rush this big decision, and now you are in a good place to make the right choices.

 

Browse our choice of properties and help us to help you find your home.

UK house prices make a stable start to 2023

House prices are not as important as many analysts like to suggest! If you are selling, you may get a little less, and if you are buying, you may pay a little less. Equally, if prices rise, you may get more for the home you place on the market, but then the house you buy will cost you more!

 

However, house prices give a good indicator as to the state of the UK property market. What we really want is stability, and it appears that after years of soaring prices, there is evidence to suggest that the property market is reaching a plateau.

 

According to the Halifax, average house prices in January 2023 have hardly changed since December 2022, while average house prices are still £5000 higher than in January 2022.*

 

Price growth and price increase are not the same

What appears to be happening is a dip in growth, which is very different from a dip in prices. It’s no secret that prices have increased a bit too rapidly over the past few years. A softer, slower market is a more stable market. Buying a home is a long-term investment, and slow and steady wins the race! Some analysts shout "crash" like a nervous passenger in the front seat of a speeding car, but now that the market is driving forward at a slower pace, a crash is unlikely.

 

The law of averages

Many of the figures and stats we hear about are based on averages. It’s important to take these with a rather large pinch of salt! If you are a first-time buyer or looking to move, when you turn on the news and hear the average house price in the UK, you may feel somewhat intimidated, perhaps even frightened! For example, in November 2022, the average price of a property in England was £315,073.** However, there is no substitute for getting online, talking to your agent, and exploring physical viewings to see how far your money can really go!

 

The market is settling down

Another good sign that the market is settling down is the return of more competitive mortgage interest rates. Many lenders are now offering deals hovering around the 4% mark. Stable house prices and stable lending rates create nicer conditions for settling down in the home you want.

 

You accept the price, but you love your house

Price is something you must accept when selling or buying. Who knows, you may love the price if it’s right! Ultimately, you are investing your time and emotion in a house that you want to be the best version of your home. House prices in the long term will inevitably rise, and you don’t want to accept anything less than the right home.

 

To see how much property, you can really get for your money, get in touch.

 

Halifax*Office for National Statistics**