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

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

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

twentyea are experts who provide market data on the UK home mover market. They have taken stock on the impact of Covid-19 on the housing market. In short, their analysis shows that the majority of households who had intended to sell then Covid-19 was upon us, refrained from listing their properties, however those already involved in a sale continued and did so in great numbers. Covid-19 Impact on Housing Sector Covid-19, hit the housing market significantly: 285,000 new inst

Rightmove have published their July House Price Index. This confirms the UK is experiencing a "mini boom". Not only is there an increase in activity, average asking prices are 2.4% higher than in March and the annual increase of 3.7% is the highest since December 2016. This makes the average house price now £320,265. Other key metrics are: Since the beginning of July, buyer enquiries are up 75% year on year Since the housing market opened up again on 13 May 2020, 44% of th

Painting your home is an incredibly important process, it can help a room look larger, brighter or warmer, all of which create the foundations for you to go ahead and personalise your home. A recent survey undertaken by Unhook Communications has revealed millions of consumers are spending on their homes as a result of lockdown. Claire Gamble, managing director, says: “We know from speaking to our clients and contacts in the home interiors industry that many have seen a rise i

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

Rishi Sunak, Chancellor of the Exchequer has immediately scrapped stamp duty on English and Northern Irish homes selling for £500,000 or less until March 2021, saving £4,500 on the average home purchase, with a maximum saving of up to £15,000 for a property priced at £500,000. The Chancellor claims that 9 out of 10 main homes sold will be stamp duty exempt. The Chancellor says: “Uncertainty abounds in the market – a market we need to be thriving. We need people to feel con

Since the government revealed plans to relax blanket restrictions on non-essential overseas travel, Rightmove have reported that they've seen more on-line users flocking to their Overseas portal. Their data analysts saw searches hit an all-time high on Sunday 28th June as the government confirmed that travel to and from certain overseas destinations will be allowed without the need to quarantine. Data shows that searches were 73% up compared with 28 June 2019. Searches were