Welcome to your April newsletter!

Home staging tips for the autumn

A thorough decluttering usually precedes home staging since it gives the house a more welcoming appearance and greatly facilitates the moving process. You could also choose to renovate if necessary.

Additionally, depersonalising your property and repainting it in a neutral colour scheme will help potential buyers see themselves living there.

Here are our top suggestions for staging your house in the autumn, since there are many seasonal aspects that will also influence how you present your property.

Clear the entrance way

The porch or hallway should get the same care you gave the front of your house. These areas are frequently cluttered with muddy boots, raincoats, and crimson leaves.

Carefully sprinkling autumnal decor

When setting your house in the fall, it might be simple to go overboard. Instead, of designing a space around the season, each area should make a tribute to it. Consider placing a single item of art, flower arrangement, or pumpkin display in each area to prevent the season from taking over your house.

Incorporate autumnal scents

Use reed diffusers and candles to spread delicate smells around the house. Seasonal colours like burnt orange and pumpkin go well together, but you should be cautious not to combine too many opposing aromas since they frequently work against one another.

Accentuate the fireplaces

As mentioned, viewers want to see a house they can imagine spending the winters tucked up inside, and a fireplace is the epitome of cosy nights.

Any purchaser will be won over by an original fireplace's cosy flames and delicate light.

Have you been looking for an agent? Get in touch to discuss selling your property today.

Tenants stay put due to rising rents: Is it time to go fully managed?

According to data from Propertymark, a shortage of rental stock is fuelling the surge in renters staying put, with 73% of letting agents saying they have seen a growth in the number of tenants renewing contracts over the past year.

Increase in long-term tenants

The rental market has seen a vast increase in tenancy renewals due to a shortage of stock, which has had a knock-on effect on rising rents. Remaining in the property is currently far more desirable than taking the risk with another property, or location, in a time of economic discomfort.

Propertymark’s July Private Rented Sector Report detailed the continuous surge in rental demand, with an average of 127 new applicants registered per member branch last month, noting that “this number has been on a slow upward trend since February.”

The imbalance between supply and demand has led to 82% of agents acknowledging that month-on-month rent prices increased in July. Pressure on rents has been steadfast since last year, with the cost-of-living crisis and rising inflation playing equal parts in the increases.

The cost-of-living crisis has created a vast number of long-term tenants, as saving for a deposit takes a back seat for the time being. The rental growth caused by current rampant demand is also a huge driving factor behind many people choosing to delay taking out a mortgage until supply picks back up, making rental accommodation a highly popular choice. Becoming a landlord in today’s climate allows the investor to generate capital growth, as their yield grows while the property value increases.

Is now the time to go fully managed?

With the disparity between supply and demand underpinning a rise in inflation, UK landlords are reaping the benefits of getting their foot in the door during a time of peak buoyancy. As the average property price increases, future sale prices also increase, meaning a buy-to-rent asset increases in value over time.

However, such an asset can be difficult and time-consuming to manage without help, particularly for new landlords who are still learning the ropes. The prospect of long-term tenants presents its own challenges too, as long-term use of a property demands more regular check-ups and maintenance.

To help landlords secure and maintain long-term tenants, letting agents can:

Find the right tenant for you and market your property.
Arrange the tenancy: A rental agent can handle everything from getting references to running credit checks, securing deposits, and drawing up tenancy agreements.
Collect rent: A rental agent can collect rent from your tenants and follow up on any late payments.
Answer tenant queries, deal with issues and concerns, and handle maintenance or repair work that needs scheduling.

Fully managed services can ensure the quality of your tenants

One of the most important reasons for becoming fully managed is to ensure that you have high-quality, dependable tenants. A managed service can help you to create long-term, positive relationships with tenants who are loyal, pay their rent on time and keep your property in good condition – giving you peace of mind.

If your tenants are staying put for longer, our fully managed services will alleviate the stress of taking care of your property. Find out more by getting in touch today.

Housing stock levels hit a 12-month high

The ongoing imbalance between supply and demand could finally be seeing some leverage on the other side, with stock levels beginning to rise in the wake of a 3-year long slum. Despite obvious economic headwinds, consumer confidence in buying and selling property evidently remains robust, and the market has yet to see its predicted slowdown.

Buyers will be pleased to hear that the horizons on the market are expanding, with supply seeing a steady increase of 5% since January, which is the positive news many home hunters have been waiting for.

The latest OnTheMarket Property Sentiment Index, which reflects property market activity in July, has been released. It reveals that housing stock has reached its highest level in a year due to the return of a seasonally driven housing market.

The findings also suggest that there is no clear sign of political and economic uncertainty unsettling buyers or sellers.

Since February, there has been a consistent week-on-week increase in stock levels, with the highest level of available stock in July compared with any time during the 12 months prior.

It is also noteworthy, that stock levels were predicted to continue improving due to more potential buyers being on holiday, further diluting the pool of competitors.

Consumer confidence remains robust

Some 75% of active buyers in the UK were confident they would purchase a property within the next three months, while 80% of sellers expressed confidence in selling their property within the same period.

In July, only 4% of movers were concerned about securing a mortgage to fund the purchase of their next property, unchanged when compared to June 2022 (4%).

Speedy sales

The report revealed that 57% of properties were Sold Subject to Contract (SSTC) within 30 days of first being advertised for sale, compared with 56% in July 2021.

Unwavering buyer interest appeared to prevail through the pandemic, and despite the rising cost of living, sentiment remained unchanged in July 2022. The market is seeing more serious buyers committed to seeing the transactions through, giving sellers reliable applicants to choose from.

What does this mean for buyers?

A rise in stock after a lengthy drought can only prove positive for buyers waiting to make their move. Those who had been holding off in fear of rampant competition, surging prices, and tricky chain implications can now act with more confidence.

The law of supply says that a higher price will induce producers to supply a higher quantity to the market. Likewise, when supply is low, prices will rise as people scramble to buy up scarce resources. This is certainly true when it comes to the property market, and therefore, it’s best to time your purchase during spikes in supply.

What does this mean for sellers?

Increased buyer confidence and a more level market mean speedy and reliable sales for those selling their property. With stock gradually increasing, this offers a larger scope for buyers to take their time and choose a home that is right for them. Thus, opening the market to serious buyers who are committed and genuinely interested in properties they arrange viewings for, rather than making hasty and half-hearted decisions that could consequentially collapse at the last minute.

Thinking about selling? Book your valuation today.

*Information retrieved from YourMortgage

Finally, your pets can feel at home!

For some of us, home is not the same without them. For landlords, they can become a worry particularly when it comes to damage. Whichever side of the fence you stand on, the law will change soon. And this comes as a welcome relief for those tenants struggling to find affordable accommodation. As things stand currently, there is a blanket ban on pets in residential properties. That means landlords can refuse pets without justification.

Renter's Reform Bill
On the cards since 2019 and soon to become law, the Renters Reform Bill aims to improve conditions and rights for millions of renters in the UK, including pets!

The Dogs and Domestic Animals Act proposes

Blanket bans on pets living with tenants are to be outlawed.
Certification of the person responsible for the pet.
Dogs must be microchipped and vaccinated.
Dogs must also respond to commands.

Landlords can refuse your pet if:

You don’t have a vet’s certificate for your pet.
You are unable to take care of your pet.
The welfare of the animal is threatened by keeping it on the property.
If your animal is a nuisance or causes danger to others.
Your landlord holds a certificate of exemption.

Lack of clarity!
There are still a lot of unknowns and things to work out, for example, on issues such as: Will this apply to all pets? Will the tenant be obliged to get pet insurance? The general process if a landlord refuses to accommodate your pet and a formal process of appeal.

When does this come into effect?
The house of parliament has been deliberating over this bill since 2019, delayed somewhat thanks to COVID. The bill is now becoming law. The exact date has not been released yet, but it’s expected to be later in 2023.

Your pet
Sadly, many pets have been given away or taken into care due to tenants being unable to take care of them. Finding affordable, pet-friendly places to live is a challenge.

Tenants
Many tenants will be thrilled to hear this news. The emotional impact of being forced to give away your best friend is truly devastating. Many landlords are pet owners themselves, so the better-behaved your pet, the better! And pet insurance will show your potential landlord that you are a responsible pet owner with a low damage risk.

Landlords
This bill protects landlords while protecting the rights of your tenants. If you are a landlord, it’s only right that you want to protect your investment. The last thing you want is your tenant’s furry friend ruining your renovated flat! Like many reforms, these changes will help you enforce some ground rules where before there were none.

A happy beginning for all!
With this legislation in place, the landlord-tenant-pet relationship will improve life and conditions for all, allowing everyone to live happily ever after!

Looking for a great place to rent? Are you seeking a buy-to-let investment? Browse our available properties.

What’s brewing in the rental market?

This month sees the return of National Tea Day. But perhaps the time for taking a break is over. With so many people looking for homes to rent, maybe it’s time to take a fresh look at the spring rental market. You could improve the climate for tenants while making a few wise investments!

Rents are spiralling with soaring demand
According to figures released in December 2022, the number of homes available for rent is 40% lower than average. This is while the properties available for rent have reduced dramatically to 38% and demand is 46% higher.*

Some landlords are sitting on the fence
With so many changes to interest rates in the latter stages of last year, many landlords have hesitated before expanding their property plans. This is creating more opportunity to step forward on the buy-to-let ladder. As others wait to see what happens, you could make an early start on expanding your portfolio.

More properties are entering the market at the right price
Spring always brings a fresh influx of properties to the market as homebuyers and sellers get on the move. So, this is a good time to find a home that may make a great buy-to-let investment and with a little more room for negotiation.

Renters Reform Bill
The renters reform bill is due to kick in at the end of the year. While it aims to improve rights for tenants, it offers a framework for landlords to address issues arising with tenants. So, in many ways, it’s a good thing and not to be feared by landlords.

New opportunities
With some landlords retiring, even fewer properties for rent become available. This means there is more scope for new investors to put their stamp on the buy-to-let market.

Buy-to-let mortgage deals are recovering!
More choices of buy-to-let mortgages are returning to the market, with some 2400 deals available.* This is a sure sign that the market is stable and strong with good levels of confidence, creating the perfect environment for long-term investment.

Tenants are renting for longer
It’s harder for many to get on the property ladder; people are choosing to rent over buy, deciding to invest in lifestyle instead of bricks and mortar.

The demographics are changing
The trend a few years ago was typically that younger people rented before they bought their first home. This has since changed, as we are now seeing more older tenants choose to rent. As a landlord, you are no longer pitching to a younger audience, creating yet more market sector opportunities.

Many renters are looking for bills included
According to Rightmove, tenants are searching for bills included in their search more than ever, and it is the most searched for term in their property portal.**

Conclusion
This is an exciting time to be a property investor. It’s time to move on from the days of making vast profits exceedingly quickly, as has occurred in the past few years. What replaces this is a more stable, lucrative market with better long-term prospects than ever before.

A better tenant-landlord relationship that is more clearly defined. And with a little more scope for finding a bargain, now is the time to get off the fence!

Go ahead – you deserve a break!

Browse these great rental properties to enjoy with your tea! Then get in touch to see how we can help you on your journey today.

Zoopla*
Rightmove**

Pillow fight anyone? Top tips on finding the home of your dreams

April is so much more than just a pretty month to go house hunting. International Pillow Fight Day takes place at this time of year, but wouldn’t you rather wake up in the home of your dreams?

Create a wish list
If you are going to do it, you might as well do it properly. Buying a home is a big decision, and buying your dream home is perhaps a once-in-a-lifetime event. Don’t be afraid to make a list of all that you want in your ideal home, as it's going to take careful planning. The details are important, so break it down into sections, from the kitchen to the sunset. You may find your home is not complete. But as long as you can create your vision at some point in the future, then you are on the right track.

The houses
The UK property market offers a rich and diverse selection of homes to inspire you. From Tudor cottages and Victorian townhouses to modern, eco-friendly, state-of-the-art green homes. Maybe you are looking for a project and want to transform classical architecture into something extraordinarily modern. It’s important to keep an open mind, as the possibilities are endless. Whether your dream is compact living in a modern flat or modern living in a suburban setting, property dreams come in all shapes and sizes.

The market
This time of year is ideal for searching for your dream home. More houses appear on the market, bringing more choice, and the property market becomes a hive of activity as home movers enjoy the perfect selling and buying climate.

In April to January 2022-2023, UK residential transactions stood at 1,029,580; in 2017 to 2018 for the same period, they were strong at 1,015,570; and in 2015 to 2016, they were 1,042,200. * These figures suggest that the housing market remains strong, healthy, and, above all else, consistent.

Enjoy the viewings
Entering your dream home will probably make a good first impression. It may take you a little bit of searching to find what you are looking for. So don’t be afraid to get out there and explore. This will give you plenty of ideas and help you discover what you are looking for.

Discover your style
Consider what interior spaces and designs make you most happy. Are you a traditionalist? Do you have a passion for wood? Or are you a minimalist who pays respect to classical features? Do you want to create a multiplicity of styles?

Consider your needs
It might be your dream home, but you still might want to consider practical elements. Think about all the members of your family, the local community, your long-term plans and goals, and your vision of a lifestyle.

Think big and be brave!
Don’t be afraid to let your imagination run wild. Stick to your vision while keeping an open mind. There are many ways to create your ideal home over time. Sometimes these challenges will inspire a solution that turns out better than your original vision and you create a home that surpasses your dreams.

Finally
You can sleep in the home of your dreams after all the big decisions have been made, and now all you have to do is live the dream.

Wake up in your dream home and live the property dream this year!

Start the search now by browsing the available properties we have on our website.

GOV.UK*

The advantages of face-to-face property viewings

There is no doubt that we live in a wonderful age where pretty much everything we want is at our fingertips, and there is nothing you can’t get delivered to your front door. You can spend night after night scrolling through Rightmove and Zoopla searching for your dream home, and while it’s possible to buy a home completely online, just because you can does not mean you should.

Virtual viewings are an awesome introduction to a property. If you already know the area and you are simply looking for a great flat to let, then perhaps you will never need to carry out a physical viewing. They are a great way to dream and check out all the homes you know you can't afford to buy!

But there is no substitute for the sensory adventure that begins as soon as you see the home you want. It’s the difference between dreams and reality.

Sensory Experience
Yes, buying a new home is a big decision, but it is also an exciting and adventurous feast for all your senses. Entering a property that feels like home is a unique and amazing feeling to savour. There is no substitute for the tactile world of wood and stone and the visual feast that will greet you and witness some of your most precious memories. The scents of the garden, the vision of your new life, the plans for decoration—that special feeling you get that you can't explain yet for some reason you know it’s home.

Valuable experience
Let’s not overlook the obvious. Agents sell homes for a living and are a great ally. Drawing on years of experience to guide you and point out things you may not notice after having absorbed your requirements and desires. It’s a comforting feeling knowing you have an expert on your team.

Do you really want to deal with buyers directly?
Your time is precious, and agents can liaise with buyers for you. It’s also a good thing to have an experienced person dealing with offers from buyers who may make a few cheeky offers!

Checking out the neighbourhood
It’s important to get to know the neighbourhood and surrounding areas. You want to make the right decision and enjoy the peace of mind and fulfilment that come with loving where you live.

Test your agent
A face-to-face viewing or valuation with your agent not only gives you the chance to test out how you feel about certain properties but also to get a thorough valuation. It’s a chance to see your agent in action and become inspired, informed, and gain from their knowledge. A good agent will get on board with your vision for moving and help you achieve your property goals.

Expertise and another pair of eyes
A good estate agent will not try to force a sale during a viewing. After all, it’s your decision.

Simply having another pair of eyes and another perspective and answering all your questions face-to-face while you can walk through the property is more convenient. This will guide you towards making the decision that makes you happy.

Local market knowledge
Your estate agent will have lots of local market knowledge and may already have moved people in and out of your new neighbourhood. So take advantage of this and use it to take the stress out of your decision.

Browse our available properties and allow us to help all your property dreams come true.

26 May 2023 | Bath

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