The Property Market After The Stamp Duty Holiday

The Property Market After The Stamp Duty Holiday


Yesterday I was in London. Buckingham Palace are doing a fabulous open day at the moment. 'Picnic in the Palace'.  £16.50 gets you an afternoons access to the garden at Buckinham Palace. Armed with a blanket and cool box we headed to Town.  I have always wanted to go to Buckinham Palace and  I cannot recomend it highly enough. It feels like reasonable value too.  Heading home, I was very pleased to note that London is back to being busy. Which can only bode well for the  property market in SE London.


<span style="font-family: Arial, Helvetica;">I<span style="font-family: Georgia;">s selling at auction the right choice for me?</span></span>

Selling at auction can mean a quick and easy sale, with excited bidders driving up the price of your home. But is it right for you?
 
Whilst we know selling at auction might not be for everyone, there are some key advantages if you've been thinking about this approach for your next sale.
 
Speed
 
One of the top reasons that homeowners opt for auctions is the speed of the process, which can take a matter of weeks once a property has been sold to complete.
 
Higher price
 
With your agent by your side, it's crucial to maximise the value from your marketing strategy.
 
The more interest you can drum up, the more competitive the bidding between interested parties, and all of this will ensure you receive the best possible price for your home.
 
Guaranteed closure
 
Unlike with traditional sales, there's a reduced risk of auction sales from falling through.
 
This is because the necessary checks and paperwork are completed beforehand, so when the gavel falls, the contracts have been exchanged.
 
Complete transparency
 
Each bid is made in public so the seller is fully aware of everything as it unfolds, and with a minimum reservice price, you don't need to worry about selling for under market value.
 
Who is best suited to selling at auctions?
 
Typically preferred by investors, homeowners looking to expediate the process also opt to sell at auction, where needed.
 
 
Want more information about selling at auction? Contact our team today.
 
 



<span style="font-family: Georgia; font-weight: bold;">Managing properties through the eviction ban extension</span>

Over the course of the eviction ban for residential tenancies, the government have looked to balance support for tenants and landlords, helping those unable to meet their rent payments whilst recognising the strain this puts on landlords who may depend on the income.
 
As of June 1st, notice periods were reduced from six to four months for residential tenancies.
 
This is except for situations including anti-social behaviour, with a shorter notice period of two weeks.
 
Compared with homeowners, it's estimated that tenants are more than three times as likely to be behind with rent or bills, 6% and 19% respectively.*
 
With courts still prioritising hearings based on severity, it's important to look for a resolution to rent arrears or disagreements where able between parties.
 
As leading lettings agents, we facilitate communications between landlords and tenants to offer our expert services.
 
What about for commercial landlords?
 
Whilst the ban has lifted for residential agreements, the ban on evicting firms for unpaid commercial rent is to be extended for a further nine months.
 
Many businesses within the hospitality sector are yet to reopen and resume trading as normal, all the while accruing an estimated £5bn in rent debt.
 
 
If you need advice about the eviction ban, go to GOV.UK.
 
Want help managing your property? Talk to our team today.
 
*YouGov
 



<span style="font-family: Georgia; font-weight: bold;">Stay informed with changes to the Right to Rent scheme</span>

First introduced in 2016, right to rent checks have been a core part of the check in process for landlords and tenants.
 
What is the right to rent scheme?
 
Right to rent is a government policy, which requires landlords to check their tenants’ immigration status.
 
It also means they must refuse to let a property to anyone who can’t prove they have a right to rent.
 
What changes have been made?
 
Significant changes were made to right to rent checks in order to facilitate these over the course of the pandemic, such as with an online checking service and changes to accepted documents.
 
 
These digital processes are temporary measures only that are to be permitted until September, i.e. video checks or accepting scanned photos in lieu of in-person checks.
 
However, some concern has arisen due to the imminent deadlines for both the EU Settlement scheme and video checks, meaning some applications could be in limbo until further clarity is provided from the government. 
 
For more guidance, please visit: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_
data/file/994998/Landlords_guide_to_right_to_rent_checks.pdf
 
 
Or for advice regarding right to rent checks and our lettings packages, contact us today.
 



<span style="font-family: Georgia; font-weight: bold; text-align: center; display: block; width: 100%;">Is it still location, location, location?</span>

Faced with the prospect of a lockdown-free summer, buyers are anxious to move quickly, resulting in record numbers paying over the asking price to secure their dream property.
 
With leading experts predicting that the house buying frenzy is here to stay, is location still as key as it used to be for buyers?

Click here to read <span style="font-family: Georgia; font-weight: bold; text-align: center; display: block; width: 100%;">Is it still location, location, location?</span>.



<span style="font-family: Georgia; font-weight: bold; text-align: center; display: block; width: 100%;">Carbon monoxide campaign to alert ‘new landlords’</span>

The government has launched their ‘Carbon Monoxide Safe 4 Summer’ campaign, which has been put in place to highlight how dangerous carbon monoxide can be.
 
As part of this initiative, the government are looking to educate the sector on the dangers, particularly with new and / or short-let landlords.  
 
 
What is carbon monoxide?
 
Incomplete combustion (when the fuel does not burn fully) can cause formation of odourless, colourless gas. This gas is carbon monoxide.
 
Carbon monoxide can displace oxygen in the human body and lead to poisoning. Because it does not smell and you cannot see it, it can be very difficult to detect.
 
 
Knowing the signs of carbon monoxide poisoning
 
Tension headaches are the most common symptom, however, other indicators of carbon monoxide poisoning may include: dizziness, feeling and being sick, tiredness and confusion, stomach pain, shortness of breath and difficulty breathing.
 
As these are relatively common symptoms, people may get them for any number of reasons, and this can make spotting carbon monoxide poisoning very difficult – especially at low level exposure.
 
 
What measures can you take to keep safe?
 
If you have fuel-burning appliances, a fireplace or an attached garage, you should look to install carbon monoxide detectors.
 
- Check or change batteries in carbon monoxide detectors every six months.
 
- Keep vents and flues free of debris.
 
- Never leave the engine running in a vehicle parked in an enclosed or partially enclosed space, such as a garage.
 
- Ensure any fireplaces or fuel burning appliances are fitted by a professional.
 
- At least once a year, have a qualified professional inspect your fuel-burning devices to make sure they continue to operate properly.
 
 
Learn more about carbon monoxide poisoning here: https://www.nhs.uk/conditions/carbon-monoxide-poisoning/
 
For advice on renting out your property, contact us today.
 
 



<span style="font-family: Georgia; font-weight: bold; text-align: center; display: block; width: 100%;">A guide to your property valuation</span>

When it comes to selling your property, it's only natural you want to know all of the facts before beginning.
 
For the majority of us, owning a property will be one of the largest financial commitments we'll make in our lifetime, so making sure that you optimise on its value is really key in order to step further up the property ladder and afford that next dream home.
 
As your leading local expert, we've taken a moment to break down some of the important areas of your market appraisal, so that should you decide to ask an agent to value your property, you'll know exactly what you're getting from them.
 
 
What do we mean by property valuation?
 
A property valuation is an assessment of your property’s value, which takes into account a wide range of factors from the property type and size, to its condition and location, as well as seasonal and national trends.
 
Having a local agent conduct your appraisal can be a really useful advantage, as they'll know the local market and be able to target buyers within that area with the right marketing strategy to generate more viewings for your home.
 
Whilst it's estimated that a seller will have appraisals from two to three agents on average, it's vital that you choose representation based on their service proposition and success metrics, rather than opting for the highest valuation.
 
The aim here is to competitively price your property to achieve the best sale price in the best time frame possible. 
 
Set the price tag too high, and you'll elongate your stay on the market whilst deterring otherwise interested buyers. Set it too low and you'll lose out on its full potential value.
 
Why is it important to get an up-to-date valuation, even when you're not thinking of selling?
 
The market is constantly changing, so whilst you might not be ready to sell right now, it's recommended to keep an eye on how properties are faring near you.
 
If a lot of your neighbours are selling quickly, it can be a really good indicator that you'll be in a prime position to find a buyer at a price and time to suit you.
 
Prices have been increasing year-on-year, so knowing your home's value can also mean that when it does come time to sell and move on, you're already informed and ready to instruct an agent, saving yourself time and energy from the very start of your property journey.
 
Whether you're looking to sell right now or sometime in the future, talk to our agents to find out exactly how much your home could be worth.