Your September property update!

The Science of Magic Mushrooms with Dr David Luke

We are currently a psychedelic renaissance and Magic Mushrooms are one of the key areas of research for scientists around the world. Recent studies have shown that psilocybin, the active ingredient in the plant, can heal depression, enhance connectivity in the brain and even result in an increase in participants' gardening! Join Dr. David Luke as he explains the chemistry, neuroscience and psychology of Magic Mushrooms. Read more...

Click here to read The Science of Magic Mushrooms with Dr David Luke.

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.

 

What happens after your offer has been accepted?

You’ve found the house of your dreams, and your offer has been accepted. You’re itching to start your new life, but the process is turning into a marathon rather than a sprint. At this point, many buyers feel mystified. What’s the hold-up?

 

The first hurdle is the pre-contact stage. This can take anywhere between 1–3 months. During this time, your mortgage lender will carry out their own checks to make sure they can turn your Agreement in Principal into a concrete offer.

 

After this, the relevant contracts will be drawn up with the help of the seller, their conveyancer, and the Land Registry. Filling out forms incorrectly, or not having the right documents on hand can delay this process, so make sure you have your ducks in a row.

 

Once the contracts are ready, your conveyancer should organise a survey of the property. Delays may arise if any problems crop up, but there are ways around this, and being prepared is always the way forward!

 

Now it’s time to exchange contracts. At this point, you can agree on a completion date. This may take up to several weeks if you need time to access the money from your lender and sign any further documentation relating to the transfer. If you’re in a chain, you may also have to wait until the seller can leave.

 

With a move-in date on the horizon, you’ll have to sort your building insurance to protect your new home from the day you arrive. Where necessary, you must pay Stamp Duty tax, and you’ll need to notify the Land Registry to confirm your ownership, and ensure your conveyancer gives you the title deeds. Tying up these loose ends can take two weeks.

 

Overall, it takes six months on average to go from an accepted offer, to picking up the keys to your new home.

 

Having the right professionals on your side can make all the difference. When you buy or sell with us, our team can help you every step of the way. We offer advice, and work closely with you to ensure your transaction is as smooth and stress-free as possible.

 

Visit our website to learn more about how we can help.

 

Letting short-term? Here are the prime locations to invest

Letting a home to the holiday market can be lucrative, especially in popular staycation destinations. A recent analysis found that short-term lets account for 7% of total homes across 15 of the nation’s tourist traps. *

 

Overall, the number of holiday lets has increased by 2.8% since 2019! This isn’t surprising considering the level of demand created by a reduction in the availability of foreign holidays during the pandemic. *

 

With chaotic scenes still unfolding in many of the UK’s airports and the rising cost of living putting off many from booking a trip aboard, the nation’s beauty spots, and traditional resorts look set to enjoy continued interest from holidaymakers.

 

Scarborough has seen the biggest hike in holiday lets – a rise of 2.3% since 2019. Ever-idyllic Cornwall still has the highest actual number of holiday properties, accounting for 7.4% of the total housing stock. At 6.1%, Dorset also remains extremely popular, with the number rising just above Cornwall (1.6% versus 1.2%). *

 

Of course, a high proportion of holiday lets in a single area can hurt the ability of local residents to find affordable homes to rent and buy, despite helping to boost the local economy by attracting tourists.

 

If this issue concerns you, letting your own home part-time or renting a separate property on your land could be a great way to earn extra income without impacting the ability of local workers who support tourist services to stay in the area.

 

If you’re planning to move to one of the popular spots we mentioned above, it may be worth considering properties that come with this potential. Whatever you choose to do, we’ve always got our ear to the ground for local properties that could suit your short-term letting goals.

 

Get in touch to learn more about how we can help you find or manage the perfect let.

 

*Property Reporter

 

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.