As we move into another phase of this pandemic, let's take a moment to reflect on what that means for the housing sector, given that there's been much confusion so far. In short, the housing market remains open - so if you are looking to move home (whether as a buyer or tenant) you can continue to do so. Since the additional fourth tier was introduced on Saturday 19 December 2020, the government have updated their guidance on moving home. Moving Home The government advice on

Rightmove have reported that 3-4 bedroom, excluding 4 bed detached homes, otherwise known as "Second Stepper" homes are selling at record prices, with the average in August at £291, 618. Why are Second Stepper Homes So Popular? Buyers are looking for more space not only to live in but also to accommodate their home working needs, so stepper homes normally allow for both these demands to be met. The number of sales agreed in August, compared with the same period last year, mor

On 5 November 2020 we entered a new hybrid version of lockdown, so what does this mean for the housing sector? What differs for the housing sector, this time round, is The Health Protection (Coronavirus, Restrictions) (England) (No. 4) Regulations 2020. These Regulations allow: you to visit estate agents, letting agents, development sales offices or show homes you to view residential properties if you are looking to buy or rent preparing a home to be able to move into it mov

The first £500,000 of any property for sale is exempt from stamp duty up until March 31, 2021, if it is bought as a main home. With property transactions taking four months to complete, you “... really have to find a buyer before Christmas to complete by March” says Miles Shipside, Director and Housing Market Analyst at Rightmove. So How Do You Achieve And Complete a Sale by 31 March 2021 Deadline? Here's the key factors that will influence your success. Pricing is Key Altho

Here's a summary of what's been happening in the housing sector, together with an outlook for the remainder of 2020 and beyond. In short, the market continues to be buoyant as buyers want to address their primary need of more space. We suspect this theme will continue for the foreseeable future as homeworking becomes the new norm for many of us. The buoyancy has resulted in a shortfall of housing stock which in turn has resulted in the continued growth in prices. It’s inev

Redrow Homes, latest survey indicates that a quarter of those they surveyed are reconsidering what they want in their future home. Of note are: - 53% of those who have children under 10, or who are currently expecting a child, are most likely to have change their priorities, compared to an average of 24%. - 39% of those who've had to work from home (either part-time or full time), or are in furlough have changed their priorities. Priorities Post-lockdown Unsurprisingly as thi

In line with what other industry commentators have shared, Nationwide's August House Price Index continues to highlight that the housing market is very active. This monthly report confirms that there was a 3.7% annual house price growth and prices were up 2% month on July. Source: Nationwide Their monthly summary indicates: Source: Nationwide Robert Gardner, Nationwide's Chief Economist, says: “UK house prices rose by 2.0% in August, after taking account of seasonal effect

This is a very interesting question now, given we are in the midst of a mini boom. Even though you may have an amazing build, quite simply, there could be a number of reasons why you are not selling. Learn what these reasons could be and what to do about them. Before we get into the detail - let's remind ourselves for a moment, what you are selling - ah yes, a property not a home. The respective definitions are: Property "a building or buildings and the land belonging to it

Here's the latest news on how the housing market is performing based on input from Zoopla. Zoopla's monthly Housing Index confirms that: there is a +2.5% UK house price growth year on year activity is at its strongest since 2015. This is driven by two key factors - pent-up demand and a re-evaluation of what buyers want as a result of lockdown although the UK is in a recession, agreed sales per estate agent in August are 76% above the 5-year average 50% more homes are being l

Once you've put your home for sale, you should expect to receive regular viewings from prospective buyers, particularly now - Zoopla has confirmed it takes 27 days on average to sell a home. The combination of the pent up demand brought about by lockdown and the stamp duty holiday means that we're in unprecedented times and in fact in a mini boom. Here's six reasons why your home may not be generating enough buyer interest and what to do about it. Poor Marketing Content Yes

Rightmove's August Monthly Housing Index confirmed that August was a record in terms of sales, valued at £37 billion! Also of note are the following: the average house price was £319, 497 Rightmove experienced the highest number of sales since they started tracking data in 2010, up by 20% compared to the previous high, and with a record total sales value of over £37 billion! there was the highest number of properties for sale since March 2008 and 44% more than the same period

Putting to one side the obvious things such as a poorly maintained home, what items can put off a potential buyer? Rated People have analysed almost a million jobs posted on their website and spoked to homeowners and tradespeople up and down the country. They have some surprising results, given the popularity of some design choices which have become staples for many of us over the last few years. Adrienne Minster, CEO of Rated People says: "We know from the many completed pr

Twentyea has shared their most recent analysis, focusing on the gap between the asking price and the agreed sale, referred to as the transfer price since 2018. So what does the Data Show? From the data, it is apparent that the gap between the asking price and the transfer price was as its lowest in 2019, despite the Brexit issue and the general election. It is also evident that sale prices have increased in 2020 following the market re-opening in May 2020. Source: Twentyea

If you are fortunate enough to have a dedicated home office, it will add £17,500 to your property value, according to Direct Line. If you don't have a dedicated home office and you are thinking of selling, re-consider how you use the spaces within your home to create that all important home office or work space. Direct Line have analysed properties for sale and found that the average price of a home with a dedicated home office is £456,500 - 4% higher than equivalent propert

Surveys are a routine part of the home buying process. This is something that falls on the buyer although the negative consequences of which can directly affect the seller. The Home Owners Alliance (HOA) have provided a very helpful guide about surveys including how to get the most from them. To begin with, the HOA define a property survey and then a mortgage valuation. Knowing the differences is important so that you can understand the potential ramifications. Property Sur

The estate agent, Knight Frank, has called for the stamp duty holiday to be implemented permanently - currently this ends on 31 March 2020. They say: “On a multi-million pound property, the saving will be a small percentage of the transaction price but it represents a meaningful discount for the vast majority of UK buyers.” For the period 8 July 2020 to 3 August 2020, Knight Frank confirm that: 1. The number of offers accepted was 146% above the 5 year average for properties

Here's a roundup of how the housing market is performing during the month of July from Twenty EA, Zoopla, Savills, Nationwide and the Royal Institute of Chartered Surveyors (RICS) (based on June data). This builds on what we already shared from Rightmove last week - more on that here. In summary, these industry insights continue the theme reported by Rightmove - we're in a mini boom. Housing activity has continued to improve in July with the average house price increasing

Did you know that 95% of people are more likely to call your estate agent if your property has a 3D 360° virtual tour? Yes, that’s right. If you are thinking of selling, it is important to add value to your property in order to maximise your chances of selling quickly and for more. Whilst COVID-19 continues to warrant appropriate measures to ensure all our safety, it also presents many difficulties for those of us trying to sell or buy property - if you are a seller, you may

Whether you intend to stay in your home or move, it's great to keep an eye on interior design trends, without them ruling your every decision. Real Homes have published their perspective of the top 20 trends so far in 2020. Now we're not suggesting that you should slavishly follow these. In fact quite the opposite. Use these trends to inspire your own design rather than to drive your design - at the end of the day, its your home so style it in such a way it reflects your p

The Royal Institute of Chartered Surveyors' (RICS) latest UK Residential Market Survey, dated 9 July 2020, has confirmed that the volume of individuals looking to buy has increased in June. Here's the key headlines: 61% of the survey respondents have indicated that they've experienced an increase in buyer enquiries over the last 4 weeks. 42% of respondents have confirmed an increase in property listings 43% of respondents have indicated that they are processing an increase in