Paul Smith's Estate Agency Blog

How choosing the right agent is the key to a successful sale

2011-01-15T14:15:00.001Z

Honesty is always the best policy when it comes to successfully selling a property in tough market conditions.

We take into account all aspects of the house-buying process and because we look at the whole picture we always offer a realistic appraisal.

People appreciate our honesty and because of this many more clients are choosing us to sell their properties. They know that we will give them an assessment based on the facts, not just on what they might want to hear.

For example, there is no point in overpricing a property. It will not attract buyers and will be languishing on the market for months on end. Far better to present the facts as they are and ensure a property sells for the best price it can. We can also tap into a national network of mortgage lenders.

The start of the year has seen us experience a huge surge of interest from buyers; however many are unable to secure a mortgage. We are fortunate that because we are part of a large network we can contact an extensive range of mortgage lenders across the UK. We can also offer up-to-the-minute local advice which is a huge bonus and can make all the difference when trying to secure a dream property.

I really believe that the future lies with estate agents who can go the extra mile. The property market is extremely competitive and both buyers and sellers are selecting agents with far greater care and discretion than ever before.

They realise that the right agent will get the results they want and because of this everyone in the industry is having to step up a gear.

We are successful because not only do we offer additional services, but we are honest and realistic. Our goal is always to achieve the best outcome for both seller and buyer and we rarely fail to do this.

Booming rental market creates perfect job opportunities

2011-01-15T09:12:00.000Z

There has never been a better time to pursue a career in the lettings industry.

With rents at an all time high and a soaring demand for rental properties, the industry is booming.

At a time when many other areas of the economy are struggling, the demand for rental property is unprecedented and this is unlikely to alter which makes the lettings industry an extremely attractive sector for those wishing to change career.

Spicerhaart recently instigated an internal training programme for all its lettings division. So now is a really great time to become part of a thriving industry and have an exciting career.

We place a huge emphasis on training and development and have put together a structured career path for all our staff to encourage swift career progression.

The training programme covers three major career stages from Trainee Lettings Negotiator right up to Divisional Lettings Director. Our lettings branch network is currently undergoing major expansion and we have a number of vacancies as many of our existing staff have recently been promoted.

If you have the motivation to succeed and want to work for a dynamic and successful company we would be interested in hearing from you.

Buy-to-let is still a safe bet

2010-12-01T10:02:00.000Z

As 2010 draws to a close, we are urging those with money to invest in the New Year to consider buy-to-let as a viable medium to long term investment.

Landlords with buy-to-let properties can expect an increasingly good return on their money as the rental market is predicted to remain strong.

There is currently a real undersupply of rental property, and this is unlikely to change in 2011 with massive demand remaining which will push rents up further.

With interest rates so low and an increasing lender appetite, a buy-to-let property can be an excellent investment. For example, a property which costs in the region of £185,000 can generate a yield of as much as eight to ten per cent a year. This is a great return and far better than any bank or building society can offer.

Those looking to invest in buy-to-let property should also be prepared to look further afield. We would advise investors to consider looking outside their immediate locality when considering buy-to-let properties, as there are areas in the country with some great returns to be had which can offer excellent yields.

We have a large network of both sales and letting branches and are happy to offer guidance.

Investors should always take advice from a reputable lettings agent accredited by a professional body such as NALS (National Approved Lettings Scheme) or ARLA (Association or Residential Lettings Agents).

A good agent will ensure that the property is looked after and well managed, and so the area of the country in which it is located should make little difference.

The yield is calculated by taking a property’s monthly rental income to give the annual rent and dividing this into the purchase price of the property. Of course, it is important to take into consideration such things as mortgage set-up fees, stamp duty and other costs associated with the purchase of a property. Even so, with the rental market so strong a buy-to-let property is a good investment.

In many areas rental properties are being snapped up in less than 24 hours such is the demand, and this will continue to remain the case the foreseeable future.

Rental bonanza is unprecedented says local lettings agency

2010-11-19T09:52:00.000Z

With demand outstripping supply, rents are currently at an all-time high – and they are likely to stay that way for some time to come.

What we are experiencing is unprecedented. In the last few months, we have seen a soaring demand for rental properties - from one bedroom flats to family homes - and rents are continuing to rise rapidly.

We believe demand for rental properties will continue to surge due to a number of national factors.

The average age of a first time buyer is now 37 and with restrictions on mortgage lending this is unlikely to change.

Student debt is also on the rise which will make buying a property out of the question for many people and we also believe that the public sector cuts will have a huge impact.

Across the board, people are more and more reluctant to commit to buying and want to remain in rented accommodation long-term.

Whilst the boom is good news for landlords who can expect greater returns on their investment, it is not such good news for tenants who are having to fight harder to secure properties.

In this market, the best piece of advice for anyone considering either renting or letting out a property is to research every aspect. Both landlords and tenants should obtain advice from reputable licensed letting agents who can guide them every step of the way.

How a good estate agent can make all the difference

2010-11-19T09:50:00.000Z

Take good care when choosing your estate agent and reap the benefits of a successful sale.

Selecting a good estate agent can mean the difference between a property languishing on the market for months or selling much more quickly.

In this tough climate, it is more crucial than ever to take your time and conduct your own research to enable you to choose the right estate agent. You will have no better ally – the right agent can offer in-depth advice and support and most importantly ensure that your property is priced realistically.

We advise sellers to be cautious about those agents quick to over or under value a property. Most estate agents are very professional but unfortunately there are some who overvalue to win business or undervalue to get a quick sale and their commission.

Pricing a property correctly requires considerable skill. Our aim is always to achieve the best price for a property, and we go to great lengths to make sure this happens by ensuring a property is valued appropriately at the outset.

It can mean the difference between moving now or selling later for less than if it had been priced competitively in the first place.

Other things to bear in mind when looking for an estate agent are the quality of service, coverage and professionalism on offer. For example, does the agent offer additional services such as mortgage advice, insurance, conveyancing and surveys? We offer a one stop shop for all these services which is of huge benefit.

It is also important that your property is marketed effectively. It is well worth researching what sort of marketing materials an agent produces. In this current market, your property needs to stand out from the competition.

We also believe the most important aspect is the professional relationship between an estate agent and client.

You want an agent who has in-depth knowledge of the market and who will go that extra mile for you. Our staff are selected not only for their knowledge and expertise but also their integrity and willingness to provide the best service possible. They are trained to the highest standards and take great pride in their work, always putting their clients’ interests first.

Choosing an estate agent is not the easiest task, but the benefits of selecting the right one are immense so it is really worth taking time over.

Rent if you can’t sell

2010-10-28T16:35:00.000+01:00

Homeowners struggling to sell their properties in tough market conditions and anxious to move should not feel despondent.

Many property sellers are now deciding that rather than waiting to find a buyer and secure a realistic price for their property, a temporary option is to rent it out.

Before now, it would not have occurred to many sellers that they can actually rent out their property, but many are seeing it as a viable alternative to selling.

The rental market is currently booming and landlords can expect increasingly higher yields with demand outstripping supply. Coupled with this, renting provides flexibility and a source of income, whilst allowing time for the housing market to improve.

Before deciding to rent out your home, it is important to obtain advice from a reputable lettings agent who knows the local area and market well.

Before letting out your home you will have to ensure it is up to market standards, inform your mortgage and insurance companies, and make it compliant with safety regulations and other legal requirements. This is not difficult and, providing you obtain the correct advice from us and our financial services colleagues, everything should be fairly straightforward.

Property is one of the biggest investments anyone ever makes, so it makes sense to ensure that when you do come to sell you do so at the right time and can secure the best price possible.

Why good presentation is the key to selling your home

2010-10-28T16:32:00.000+01:00

Despite challenging market conditions this autumn, house sellers should not be discouraged provided they enhance their property’s unique selling points.

It is now more important than ever that sellers invest both time and money in ensuring their property’s key features are highlighted to potential buyers.

In this tough market, excellent presentation has never been more crucial. It is all about improving marketability and ensuring a property stands out. It is often hard to view your property through a buyer’s eyes and this is where the advice and objectivity of a good estate agent comes into play.

We recommend that potential sellers rectify any problems which could detract buyers immediately.

Basic repairs and redecoration should be carried out where necessary and gardens and outside spaces should be immaculate. Internally, clutter should be removed, rooms restored back to their original purpose (for example a spare bedroom might currently be used for storage) and old shabby furniture replaced.

We also advise that as the kitchen is now frequently seen by buyers as one of the most important rooms in a home, it is often worth investing in improvements.

Small details such as fresh flowers and a lick of paint count, and simple inexpensive renovations such as repairing peeling windows can add instant kerb appeal. If a property appears unkempt and uncared for, buyers will be put off immediately.

It is also vital to ensure that the property is priced correctly, and again this is where the skill and knowledge of a good estate agent such as us is so crucial.

We are always honest with vendors and our aim is to ensure that they sell their property at the best price possible and quickly.

Nicely presented properties always attract interest and even in this climate, sellers can still achieve a good price.

It’s a landlord’s market as demand outstrips supply

2010-09-16T09:55:00.000+01:00

With rents on the rise, landlords should take advantage of the demand for rental property.

There is a vast number of quality tenants on the books, all looking for the perfect home to rent. Due to the ongoing uncertainty in the property market, many people are choosing to rent rather than buy, and are opting for longer rental leases because they offer extra stability.

Because of this, demand is outstripping supply. This means that rents are very high and periods between lets can be kept as short as possible. As a result, landlords are in an extremely good position.

It is important to use a reputable agent which can advise on all the legal necessities entailed in letting property. We also offer full, comprehensive legal and rent protection insurance which ensures that landlords are protected even in unforeseen circumstances.

If there any prospective landlords out there, we would be delighted to advise them on how they can maximise their rental returns.

Properties will sell at the right price

2010-09-14T16:45:00.000+01:00

House sellers can avoid the property slump by pricing their homes at a realistic level.

Data from the Royal Institute of Chartered Surveyors has showed that house prices in August in England and Wales fell to their lowest level since May 2009.

But homeowners should not be too alarmed at the figures - their homes will still sell if they are priced at a reasonable, realistic level.

Our experience suggests that over-pricing may mean buyers don’t bother to view and will look elsewhere instead. So with good advice, sellers can pitch at the right price and enjoy a smooth sale, even in the current climate.

It’s very much a buyers’ market. The next six months is a really good time to buy, with lots of properties coming on the books.

Offering a lifeline to landlords

2010-07-26T14:22:00.000+01:00

Residential landlords are in need of advice and guidance more than ever before.

With demand for rental properties higher than ever, landlords are not always getting the correct advice to ensure they understand the myriad of regulations involved in renting out a property.

Despite the fact that the new government has recently scrapped plans for a landlords’ register, a huge amount of regulations still govern the private rental sector and it is vital that landlords realise what is involved in renting out a property.

Many landlords are so keen to capitalise on today’s buoyant market that they are neglecting to look into the legal requirements which govern letting a property and this could have disastrous consequences.

More than 50 Acts of Parliament and over 70 sets of regulations govern the private-rented sector and this makes it impossible for landlords to cover all bases. This is why it so crucial that they seek professional advice from a reputable lettings agency which can safeguard them against possible litigation.

One of our recent surveys revealed that over 86 per cent of our clients would recommend our services to landlords.

In today’s market it is more important than ever that landlords safeguard their assets and ensure that they remain compliant with the law.

Buy-to-let – still a good investment

2010-07-15T14:14:00.003+01:00

Now is the best time in years in which to purchase a buy-to-let property.

With increasing numbers of people choosing to rent rather than buy and the level of demand pushing rents higher, a buy-to-let property is a fantastic long-term investment.

With the shortage of rental properties and increased demand, a buy-to-let property is a great investment.

Many potential landlords were put off buying properties to rent because of fears around a predicted huge increase in capital gains tax.

These have been unfounded and although capital gains tax has increased from 18 to 28 per cent it has not been enough to put people off and with rental yields higher than ever, many new landlords are already reaping the benefits of a buoyant rental market.

Buy-to-let property has proven lucrative for thousands of investors over the years and now is a good time to invest.

Sell now and avoid extra VAT

2010-07-12T14:09:00.004+01:00

The Government has announced that VAT will rise from 17.5 per cent to 20 per cent from January 4th 2011, and the increase will have a significant impact on sellers.

If people put their property on the market now they will have every chance of avoiding the VAT increase in January which will substantially affect their selling costs.

Once a sale has been agreed it takes on average 13 weeks for it to be finalised, so our advice is if they delay they will be paying significantly more.

The VAT increase will not only impact estate agency fees and conveyancing costs, but will also mean that surveys and land registry and search fees could be more expensive.

Both sellers and buyers should also bear in mind that from January next year the rise in VAT will mean that moving costs are likely to increase, so everything from hiring a removal van to redecorating or furnishing a new property will be more expensive.

The property market is extremely buoyant at the moment so it really is an excellent time to sell and we are finding that properties are moving very quickly.

Our advice is if you delay there could well be more to pay.

Google’s new property search helps put your home on the map

2010-06-18T10:11:00.000+01:00

Spicerhaart is one of the first estate agencies to sign up to Google’s new property search feature on Google Maps, giving customers a wealth of options when it comes to marketing their property online.

Viewers can search a local area using Google Maps, pinpoint the exact location of a property for sale with us and see what features are offered.

They can search on property price, whether it is for sale or rent, how many bedrooms and bathrooms it has, and whether it is detached, a semi or townhouse/unit.

By being one of the first to partner with Google’s property search, we can offer our customers so much more. Not only do they benefit from exposure on all the existing main property portals to which we subscribe, their properties will be seen by so many more people who search on Google.

As the most popular search engine in the UK, it will be so easy for people to pick the location where they want to live, then see the wealth of properties on offer in that area.

Andrew Foster, product manager for Google, says: "We know that many UK home buyers are already using Google Maps to help with their house-buying and renting decisions, especially driving directions and Street View. By making property listings available in Google Maps we can drive qualified buyers directly to listings.

"It's a simple and free way for property companies to make their listings even more discoverable, and have them seen on an easy-to-navigate map."

Property market experiences post-election surge

2010-05-17T11:14:00.002+01:00

With a coalition Government now in place and the election period over there is a reclaimed sense of stability in the housing market which has led to a surge of property coming onto our books.

It seems that confidence is returning with people no longer postponing their decision to buy and sell.

Since the formation of the new Government we have also experienced a flood of phone calls to our branches, plus a large increase in traffic to our website.

In particular, we are seeing a flurry of web-driven activity during the lunchtime period and between 7pm and 9.30pm. When we surveyed our customers recently, they told us one of the reasons they chose us to sell their property was because they can talk to us up to 10pm during the week.

Even the uncertainty over the future of Home Information Packs is failing to dent interest. Although the new Government has confirmed it will be scrapping them, it hasn’t yet announced the timescale to do so.

With the election behind us and the summer ahead, sellers now need to focus on smartening up their properties and making them stand out from the crowd.

For buyers, there are some good mortgage deals available and, with property prices rising again, it has never been a better time to get on or move up the property ladder.

New stamp duty threshold is of national significance

2010-04-05T16:44:00.003+01:00

The scrapping of stamp duty for first-time buyers who pay less than £250,000 for a property is set to strengthen the market.

First-time buyers are the lifeblood of the industry and the new stamp duty threshold will substantially increase the number coming onto the property market.

Already we have taken more enquiries from first-time buyers looking to get a foot on the property ladder. Although the average first-time buyer still needs a decent deposit before they can purchase a property, the fact that they no longer also have to save up one percent of the purchase price means that there will be many more properties available to them.

This new measure is of national significance and is good news for the industry and economy in general. It will particularly help those first-time buyers in London and the South East where property prices are generally much higher.

However large numbers of would-be first-time buyers are still being frozen out of the property market because they are unable to secure a deposit. We strongly believe the government should either help decrease the amount of deposit required or assist first-time buyers with securing funding through the Government-owned lending institutions.

Landlords must be aware of new planning rules

2010-04-05T12:21:00.000+01:00

Landlords may not realise they need to apply for planning permission to let houses in multiple occupation (HMO) under new rules.

Where a landlord lets or is considering letting a property to three or more sharers, this creates a house in multiple occupation (HMO). As a result, they will need to apply for planning permission for “changing the use” from a family home to a HMO.

The new planning rules have been introduced in response to the growth of “sharer properties” in certain areas predominately occupied by sharers such as students and migrant workers.

This legislation has come into place at very short notice and has not been very well-publicised, so many landlords may not be aware of it.

In effect, it means they need to obtain separate planning approval if they wish to let any property as an HMO. Furthermore, as the planning process takes about two months, landlords need to take this into consideration.

The new rules do not apply to tenancies which are currently in place, but a planning application may need to be made on tenancy renewal.

This will undoubtedly cause a massive increase in the number of planning applications and the number of appeals, as well as an increase in cost to landlords. Inevitably, many will now have to consider whether to let to sharers and what hoops they have to jump through to do so.

Do not forget that the HMO licensing introduced in 2006 is still very much in force, where certain types of HMOs require mandatory licensing. In addition, local authorities are able to create selective licensing for other HMOs by type or area under the licensing regulations. This new requirement for planning permission is an additional requirement to licensing.

Conditions are also likely to be attached to the new planning permissions. These could include an order to carry out a full health and safety assessment or perhaps restrictions on the number of cars allowed at the property.

I suggest landlords check with their local planning authority on their particular situation, or call us for advice.

Rental income on the rise

2010-03-23T10:18:00.002Z

Rising demand for rental properties and an increase in rental income is good news for landlords - heralding the return of a more confident lettings market.

Recent figures have revealed that rents increased by 1.2 per cent in February following two months of decline. It is predicted that they will continue to rise throughout the year due to a shortage of rental properties.

A year ago, the market was flooded with rental properties but the situation is now reversing. A shortage of rental properties is already pushing some rental incomes higher and if this tightening in supply continues, landlords may enjoy a further recovery in rents over the course of the year.

However, it is vital both landlords and tenants receive good advice. We are committed to ensuring our landlords get the very best return on their investment and also that tenants are treated fairly.

As the rental market recovers, it is very important that landlords remain realistic about the sort of rental income they can achieve. This is why we offer extensive advice and guidance on how not only to attract the best tenants, but also what sort of rental income is appropriate in today’s market.

Demand for rental properties is very high, particularly as more people are deciding to rent. Competition for high quality rental properties is strong which is good news for landlords and hopefully signals the return a more buoyant market which will benefit everyone.

Open House brings buyers flooding through the doors

2010-03-23T10:13:00.002Z

Our new scheme aimed at creating a buzz amongst potential property buyers is proving to be a big hit.

With the new Open House initiative, vendors pay a one-off fee for a large-scale viewing event at their property. At one Open House this month, almost 30 potential purchasers visited a property for sale, leading to a winning offer of £14,000 over the asking price.

The events are arranged as soon as possible after the property goes on sale, with eye-catching flags flown outside the home on the day. Making an impact as soon as a property hits the market can be key to a swift sale and maximum interest from potential buyers.

The Open House events are part of a trio of Accelerated Marketing tools. Also included in the package is a minimum of a one quarter page advert in the seller’s local press.

Properties are also given a premium listing on the Rightmove website for as long as the property is on the market with us. Benefits include multiple photos of the property on the search page, an eye-catching background and a larger listing box.

A successful spring for landlords is predicted

2010-02-19T16:33:00.001Z

With spring just around the corner, landlords should do everything they can to ensure their properties are in the best possible order and reap the benefits of a predicted rise in rental income.

The rental market has seen greater demand but there are fewer quality properties available. This of course means that tenants no longer have as powerful bargaining power as they once did. However despite this, landlords should do everything they can to ensure their properties are presented in the best possible order to maximise their worth and achieve a quick let.

There are a number of steps landlords can take to make their properties not only more attractive to potential tenants but also to ensure they achieve the highest rental income. The property needs to be spotlessly clean, in good order with all the appliances tested and working and of course the legally required safety checks carried out.

Interiors should be painted in neutral colours to give a light and airy feel to the property, worn carpets and flooring should be professionally cleaned or replaced, windows kept spotless and gardens and external spaces immaculately presented. Adding up-to-date lighting and fixtures can also make a huge difference to the appearance of a property.

Spring is a particularly busy time in the lettings sector and the outlook for 2010 is very promising. However it is always important to remember that whereas a buyer might be happy to purchase a tired property which they can then add value to, a tenant wants a home which is fresh and ready to move into immediately. Our advice to landlords is not to expect anyone to live in a property that they themselves would not live in. Keeping a rental property in good order is good news for everyone as it means that it attracts better tenants, yields a higher rental income, and also maintains its value.

Add value to your property this year

2010-02-19T16:24:00.008Z

This year should see the gradual strengthening of the UK property market. Prime homes in prime locations always sell well, but there is a real shortage of better quality homes on the market so any work done has got to enhance the property. There are a number of things sellers can do to ensure their properties attract buyers and yield the best price.

Extensions and loft conversions, extra bedrooms and bathrooms, new kitchens, conservatories and creating off-road parking are all proven ways of increasing the value of a property, but there are also less expensive and invasive ways of ensuring a property is attractive to potential buyers.

Simple renovations can add value to a property. Re-decorating the outside and improving the garden will add instant curb-appeal. Light and airy properties are very attractive to buyers so decorate with light neutral colours. Dispose of clutter and if you are presenting your home to potential buyers remember to ‘stage’ it which will mean getting rid of too many personal items such as photographs and ornaments, ensuring that it is spotlessly clean, replacing old furniture with selected new items and carrying out basic repairs.

However, the cost of any home improvement must be in proportion to the value of the house. A lot of home improvements can be done without planning permission these days, but it is worth checking before the work starts. If you do have to apply for planning permission, allow for the costs involved and the extra time you'll need for permission to be granted.

There are a fewer number of properties coming on to the market at present and while this continues sellers have a great opportunity to obtain a higher price for their property and achieve a faster sale. However potential sellers should always consider the best ways they can add value to their property.

Buy before spring for the best property deals

2010-01-18T16:11:00.000Z

January inevitably sees a rush of sellers looking to place their properties on the market and many clued-up buyers are also keen to buy before prices start to increase during the spring.

The key to success for buyers is to ensure their property stands out from the crowd in order to get the market value for their homes.

First impressions always count, and the recession has proved that this is truer than ever. The basic rules apply wherever you live, and a small amount of time and money can make all the difference.

For purchasers, it really is a buyers market. Realistic house prices, priced sensibly for a quick sale, can be a good investment – as long as you have a decent deposit to secure a mortgage deal.

In terms of types of property, because of the glut of new apartments on the market, it is those with family homes to sell in the region that will boom in 2010. This year should see a slow and gradual strengthening of the property market as well continued success in the lettings industry.

Landlords urged not to lose out

2010-01-04T16:06:00.009Z

Many rental properties are not adequately safeguarded against possible weather damage such as burst or frozen pipes or ill-fitting or broken roof tiles which can lead to major problems.

It can be extremely stressful when problems arise. Many landlords work full-time and have other obligations so making sure their rental property is well maintained, especially during adverse weather conditions, although a very high priority can be difficult. This is why it is so important to choose a lettings agent carefully and to consider how the property will be managed.

For example, something as straightforward as a tile which has blown off the roof, can lead to major problems. Replacing the tile will cost very little but if snow or rain seeps through damaging ceilings and walls it can be very expensive. We advise landlords to always consider a full-management service as in the long-run it can save a lot of money not to mention time and inconvenience.

We offer a full property management service with highly trained staff who visit properties regularly and are also very knowledgeable about developments in the law affecting landlords which gives great peace of mind.

We also advise that landlords should appoint an agent who is registered with the Association of Residential Letting Agents (ARLA) whose members are governed by a strict code of practice.

ARLA Membership is achieved only by agents who demonstrate that they have a thorough knowledge of their profession and conduct their business according to current best management practice. All members are required to have professional indemnity insurance cover and are covered by a bonding scheme which provides financial protection for client monies which have been misappropriated. Appointing an ARLA-approved letting agent means the landlord will receive the professional help he or she needs to realise a rental income without the constant worry that something could go wrong.

All landlords want to safeguard their properties which are extremely important financial assets. Choosing an ARLA member and also undertaking a full management service are simple steps which alleviate unnecessary stress.

Landlords benefit from increased rental yields

2009-12-16T16:36:00.000Z

With the demand for rental property increasing, landlords are cashing in on rent increases and making a profit of, on average, 5.6%.

Nationally, the average rent currently stands at £591 a month and the average cost to buy a rental property is £115,000, with a landlord return of 5.6%. However, in London and the South East where property prices are higher, the rental return is also likely to be increased.

It’s great to see a healthy lettings market and we’re committed to ensuring our landlords get the very best returns on their investment. Our knowledge of the local area and our list of potential tenants means that we can make sure owners get the maximum from their property.

Our figures portray a really positive picture for landlords across the UK. As house prices continue to rise we expect to see some new landlords come to the market; and who can blame them?

Bonuses bring surge of activity to London property market

2009-12-02T13:13:00.000Z

The return of bonus payments to city workers is leading to an increase in property transactions at the top end of the market.

It’s predicted that overall the bonuses paid could total £6 billion. We believe this will help sustain property prices rather than cause a bubble.

With many bonuses being paid in February and March next year, we’re looking forward to a confident Spring market in London.

Property shortages in best areas drive up prices

2009-11-18T13:09:00.001Z

A shortage of properties for sale in popular areas is leading to rapid price increases.

At £162,038 the average UK house price has now risen for six consecutive months but at the same time there are fewer houses on the market than at any time in the last year and a half.

We’re really encouraged to see prices continuing to rise month-on-month. But the lack of houses for sale is really making the current situation a sellers’ market.

This is particularly true in popular areas. These are often areas with things like sought-after schools, a selection of period properties or good transport links. Here we’re seeing sellers being able to demand even higher prices as the lack of properties for sale increases demand.

This is encouraging news for the housing market. We traditionally see extra activity in the run-up to Christmas and then a lot of movement in the Spring. We’re hoping this increase in demand for houses in popular areas will really help strengthen the market and improve confidence.

Perfect opportunity for first-time buyers to make their move

2009-10-16T13:04:00.007+01:00

Now is the ideal time for first-time buyers to take the plunge and get their foot on the property ladder.

For a long time first-time buyers have struggled to get their foot on even the lowest rung of the property ladder, but now the tide has turned, and it is a great time for them to seriously consider buying a property.

There are some fantastic new mortgage products available at the moment specifically aimed at first-time buyers, property prices are much more realistic and the stamp duty threshold will remain low until Christmas.

It is important that first-time buyers thoroughly evaluate the amount of money they have available to put towards a property,research mortgage deals and familiarise themselves with the different types of loans available. They should also consider the type of property they require and what area they wish to live in.

We are certainly seeing more first-time buyers and are always happy to advise them on the best way forward.

Asking prices are significantly reduced, there are some excellent mortgage deals around and interest rates are low all of which are encouraging first time buyers.

Buying a first home is one of the most important steps anyone will ever take and now is a great time to take that step.

Lettings market provides strong career prospects for graduates

2009-10-02T13:00:00.002+01:00

Graduates should be looking at the lettings market as a key target area for employment.

With over a million under 25-year-olds predicted to be unemployed by the end of the year, job opportunities are few and far between. However, haart believes that opportunities exist in the residential lettings sector.

September and October heralds the usual scramble for jobs by school leavers, college leavers and graduates. However, this year has been particularly difficult for many because of the recession.

Working in lettings is very different to working in an estate agency. The relationship with a landlord and tenant can last for many years, and our employees have to have the right people skills to ensure that this relationship runs smoothly.

Although the residential sales market has slowed, the lettings industry is booming. Now is an ideal time for jobseekers with the right attributes to launch a fruitful career in property.

haart is a member of the Association of Residential Lettings Agents (ARLA) and offers a two-year structured graduate scheme guiding new recruits from induction to management.

Two years ago we successfully launched our lettings graduate trainee programme. Three members of the first intake are already managing top-performing branches and another is working as a business analyst for the operations team. These successes are a testament to the quality of our training scheme.

Festive season expected to drive buyer demand

2009-09-23T10:49:00.002+01:00

Summer may have only just ended, but for many that means one thing; it's time to start planning for Christmas. With a recent survey showing half of shoppers have already begun buying presents, we are expecting to see a significant rise in people moving now to be settled by Christmas.

In addition, as the stamp duty holiday draws to a close, buyers will want to make the most of this golden opportunity for significant cash savings. With Christmas on its way, the money saved will no doubt come in handy for presents, decorations and festive food.

Our figures already show a 32% increase in the number of people looking for properties, which is likely to be due to stabilising market conditions and the extended stamp duty holiday. However, there continues to be a lack of supply.

If you are hoping to sell, now is an ideal time to come forward and help meet the increased demand created by buyers hoping to move by Christmas and capitalise on the stamp duty holiday.

Property boom to beat tax whammy

2009-09-14T10:47:00.003+01:00

With an increase in VAT and stamp duty coming into effect in the New Year, there is likely to be a rush to buy in order to beat the triple tax whammy.

As various hard-won tax concessions are being dropped and higher rates coming back into play, it will inevitably hit people in their pockets at a time when they need it least.

In the new year, buyers of properties under £175,000, who were previously exempt from stamp duty, will have to pay 1% on properties over £125,000 – which will add an extra £1,600 on the price of an average first time property of £160,000.

As more buyers become aware of this, the inevitable consequence will be a rush to buy, fuelling a mini-boom between now and the end of the year. If you are looking to sell your property, now is a perfect time to capitalise on the increasing number of buyers.

haart launches new super-branch expansion plan with flagship development in Milton Keynes

2009-09-01T10:46:00.000+01:00

At haart we have launched a major expansion programme, starting with the development of a new £500,000 ‘super-branch’ in Milton Keynes, set to be five times bigger than the usual high street branch.

The new cutting-edge super-branch expansion programme will enable us to reach an even wider number of people, with our focus remaining on the excellent customer care for which we have become renowned.

The new branch will serve a 20-mile radius, including Bletchley, Newport Pagnall, Shenley, Stony Stratford and Walnut Tree, and will employ 23 negotiators, nine of whom will specialise in lettings.

This branch is just the first of a series of large-scale haart branches planned for the UK, with discussions already taking place for further super-branches in Leeds, Coventry and Birmingham as part of a £3 million expansion plan.

The company is also a member of the Association of Residential Lettings Agents (ARLA), offering peace of mind to tenants and landlords alike.

Sales up 44% as haart experiences strong first half-year results

2009-08-14T10:44:00.002+01:00

In the last six months we have seen a staggering 44% increase in property sales, compared to the same period in 2008 – reinforcing the fact that the UK property market is seeing signs of a major recovery.

Figures also show a 32% increase in the number of people looking for properties, with the average house price down 14% on June 2008 prices at £161,158.

Despite recent reports by the National Housing Federation, which indicated that the housing market will not recover fully until 2011, many of our haart branches have had their busiest months for nearly two years as the number of properties being listed and sold reached a new high.

Confidence is clearly beginning to return to the property market and our first half-year figures demonstrate considerable growth. July was a particularly strong month with branch sales up 133% compared with 2008, and exchanges up by 83%.

Prices have now bottomed out and are increasing in many areas. These low prices, combined with people now being able to get hold of mortgages more easily, have contributed to this surge of activity. The increase in mortgage approvals will give a much-needed boost to the property market and will show buyers that, despite the downturn, they are able to buy and lenders are willing to lend.

More properties ‘Must be sold’ under the hammer

2009-07-23T10:42:00.000+01:00

If you’re looking for a quick purchase or sale then auctions offer an ideal way to exchange and you can now snap up homes at prices of a decade ago at our next mustbesold.com auction event.

In the UK, property sales take on average 14-16 weeks to complete but many of those who buy at the next mustbesold.com auction will complete the sale within just a few weeks. The process is very fast-moving and that is why our mustbesold.com auctions are becoming increasingly popular with people looking to get on the property ladder, upgrade their home, or build up a buy-to-let portfolio.

In this credit crunch environment, people are keen to hunt out a bargain and snap up these homes at prices of a decade ago. Prices in the auction room accurately reflect the current housing market and are an up-to-date indicator of credit crunch property prices. This allows both buyers and vendors to exchange at a fair cost.

Properties up for grabs on 22 July include two-bedroom terraced houses in Lancashire for just £18,000, a three-bedroom semi-detached house in Coventry for just £50,000, and potential development land equating to approximately .0164 acres in Gwent. Full details can be viewed on the website www.mustbesold.com.
The next auction begins at 1.00pm on 22 July 2009 at the Hilton London Metropole, London. Mustbesold.com auctions offer the opportunity to watch the auction live online so those that are unable to attend are still able to monitor the bidding in real time. Please see www.mustbesold.com for more details.

Falling rents create a tenants’ market

2009-07-06T10:40:00.003+01:00

As the lettings market continues to favour tenants, there are more properties than ever to choose from, forcing rents down.

Because of the increase in choice, we are encouraging landlords to ask for realistic rents which reflect the market, reducing rent by 5-10% in some cases.

In our experience, landlords have been very receptive to this advice. They would rather drop the rent and fill the property than hold out for a higher rent and it remain empty.

The picture does fluctuate across the UK. Where landlords are starting to sell, the pendulum is swinging back, keeping rental income strong where the amount of available stock is reduced. However, for many, renting out property is still a quick-fix solution for private owners who are struggling to sell in the current market or for developers who are waiting for the market to pick up.

Whilst the current market conditions lend themselves to tenants, it is certainly not all doom and gloom for landlords, helped by lower mortgage rates. The key for landlords is to learn how to work with the current conditions and always be one step ahead of the market.

Felicity J Lord gets set for growth

2009-06-24T10:38:00.002+01:00

As mortgage lending is up, we are finding there is a shortage of properties for sale in the Capital and with prices reaching their current levels, we are gearing up for a surge of activity.

At Felicity J Lord we have just launched a fresh website, complete with a brand new online magazine depicting hot activities and top properties in London this summer. By refreshing the design of the website at www.fjlord.co.uk, it has become much easier for customers to use.

Each listed property has excellent quality sales details, many of which have floor plans and virtual tours, plus local information, maps and colour photos.

By offering such a vast range of services, we attract more people to view our customers’ properties which, in turn, helps boost their sale price and generate an excellent return on what is the most important investment people are ever likely to make.

Opportunities for buyers increase as mortgage approvals rise

2009-06-08T10:38:00.001+01:00

Figures have shown a steady rise in the number of mortgage approvals from the UK’s major banks over the last six months, which means now is an ideal time for buyers to capitalise on lower house prices.

With rising demand for rented accommodation and increasing competitiveness within the lettings market, exiting that market to become a homeowner is now even more appealing.

The rising number of mortgage approvals are a strong signal of future activity in the housing market, which is particularly good news for first-time buyers who have been negotiating the poor market conditions for months, trying to get a foot on the first rung of the ladder.

Ownership brings security and for this reason, will always be sought after. The increase in mortgage approvals will show buyers that despite the downturn, they are able to buy and lenders are willing to lend.

Now is the perfect time to take advantage of low property prices and invest in your future.

Cash savings up for grabs thanks to stamp duty holiday extension

2009-05-15T10:36:00.001+01:00

After plans to extend the stamp duty holiday were revealed in the recent budget announcement, ensure you make the most of a golden opportunity to make cash savings.

The extension of the stamp duty holiday will provide an extra incentive to buyers and will give a major boost to the property industry. There is no guarantee that the holiday will be extended after this period, so if you are in a position to buy, don’t wait.

The current system states that buyers must pay 1% of the property price in tax on homes worth £175,000-£250,000, with a 3% tax starting at £250,000 and a 4% tax on properties over £500,000. However, the new deal, which sees the stamp duty holiday extend from September 2009 until December 2009, could see you save up to £1,750 when purchasing properties up to the value of £175,000.

It is now cheaper to buy than rent in many cases and you should consider all your options. With prices now affordable for many, those with a mortgage offer or who have cash-ready funds should take advantage of the scheme.

haart launches residential lettings expansion programme

2009-04-27T10:28:00.000+01:00

The haart estate agency group has responded to consumer demand for rental properties by expanding 22 sales branches across the UK to include residential lettings.

With the number of lettings increasing, haart has identified areas of the country where there is a strong demand for rental properties and has trained staff to provide a lettings service in addition to sales.

Haart sales branches that now offer lettings include Streatham, Earlsfield, Petersfield, Hayes, Wembley, Woodbridge, East Ham, Norwich, Norwich Golden Triangle, Westcliff on Sea, Torquay, Hornchurch, Harold Wood, Lincoln, Peterborough, Gidea Park, Grayshott, Lowestoft, Maidstone, Romford, Shirehampton and Wadhurst.

Tenants and landlords expect a good level of service, so thorough training has been a key part of the expansion programme. With lettings continuing to be popular, our focus remains on the excellent customer care for which we have become renowned.

Make your rental a Spring success

2009-04-02T10:25:00.000+01:00

At this time of the year the most important thing that any landlord can do is to ‘spring-clean’ their property, ensuring it stays in good shape and attracts the highest rental income possible.

At the moment there are a large number of rental properties on the market so it is vital that your one stands out from the crowd. We strongly recommend that landlords give their properties a thorough clean not just internally but externally too, to gain the best return on their investment.

As a result, we’re advising landlords to carry out any necessary renovation or remedial work over the May bank holiday to ensure they don’t miss out on rental yields during the key summer months.

First impressions count so it is important that landlords ensure that their properties not only look good but are also in good repair.

Now is a good time to check things like roofing, guttering and brickwork, which can all be severely affected during the winter months. This will pay dividends as it will not only make the property attractive to potential tenants but will help to avoid expensive repairs in the future. It is also wise to pay attention to outside spaces such as gardens and patios as these become particularly important to tenants during the summer months.

We are always on hand to advise landlords on how they can maximise their investment and are firm believers that the way to ensure tenants respect and look after your property is for you to look after your tenants.

In the current competitive climate the most valuable thing landlords can do is ensure rental properties are presented in immaculate condition to boost their appeal and attract a high rental income.

Internally, landlords should consider giving their properties a lick of fresh, neutral coloured paint and ensure that things such as light fittings, curtain rails and carpets are in good order.

Rental safety net for landlords

2009-03-25T09:59:00.002Z

Despite an agent taking every care in selecting suitable tenants, the difficult financial climate left nearly two million unemployed by the end of 2008, with many struggling to manage their finances. Rental guarantee insurance can offer landlords peace of mind.

With unemployment at the highest level since 1997 and job vacancies in shocking decline, there is a very sudden and real fear that tenants will fall behind with payments. Over the past few months we have noticed dozens more landlords using our rent and legal expenses insurances.

The advantage of the cover is that experts can be brought in to sort out any problem once the tenant has defaulted on two months’ rent. The landlord will continue to receive the rent they are due, plus they get free legal advice and, if necessary, free legal action and support will continue until the situation is resolved.

The comprehensive rental insurance package offered by haart covers rental income up to £4,000 per month, and the policy guarantees to pay out until vacant possession is obtained and offers a further six weeks rental cover so the landlord can prepare the property for re-letting.

Healthy returns forecast on buy-to-let properties

2009-03-05T10:32:00.002Z

With interest rates at rock bottom, one of the best ways of making profit on a nest egg is to look to the buy-to-let property market.

Competitive mortgage rates, increased demand for cheaper properties at the lower end of the market and falling house prices have become attractive propositions for potential new landlords.

Buying property to let is an excellent investment. You can now get yields in excess of 6%, and in some cases up to 8% and 9%, which is more than you would get from investing in a savings scheme. For example, a property worth £100,000 would provide a yield of 6.6% if you charged rent at £550 per month over a 12-month period. It is certainly a great way of capitalising on the current downturn - if you have funds to invest.

Investing in a buy-to-let property can potentially provide landlords with much higher returns than traditional forms of investment. However, to get the best yields, investors will need to use an experienced agent like ours, which is fully insured so the landlord’s interests will always be protected. We also know the local rental market, which ensures investors who are looking to buy a property, will purchase one that is in demand.

haart is a member of the Association of Residential Lettings Agents (ARLA), offering peace and mind to tenants and landlords alike.

New refurbishment service offered to local landlords

2009-02-02T10:26:00.001Z

Haart is offering a new advisory service to help landlords keep their rental portfolios in top condition.

As well as providing information, we can also manage improvements, from arranging a change of carpet to a total refurbishment, by instructing bona fide contractors on behalf of the landlord to complete works. We can also advise on safety issues such as gas and electric, and fire and furnishing regulations.

There is greater supply of property on the rental market now and better equipped and presented properties are likely to rent out more quickly.

Our service takes the worry away from landlords and our national database of people looking to rent and excellent marketing means that no one works harder to let landlords properties.

Our one stop approach is designed to cover all aspects of landlord needs. Property maintenance is a key part of maximising income for landlords, which has never been more important than in the current economic climate. Our advice to landlords would always be that if you want long term reliable tenants then invest in the accommodation you provide.

Why rent when you can buy?

2009-01-22T15:02:00.000Z

haart is offering comparison mortgage prices on all our rental property details. Although many people are reluctant to buy in the current market, it has become a cheaper option for those able to make a down payment.

The start of the year is often a time of change, with people moving jobs, more divorces and alterations in personal circumstances, all of which result in people upping sticks and moving house.

What could be better than living in your own home and enjoying your own tasteful décor, while capitalising on current low prices for long-term investment? It really is a good a time to snap up a bargain.

Because of the economic downturn, people believe that they cannot afford to buy or that lenders are unwilling to lend. This is simply not the case. Now is the time to take advantage of competitive property prices and invest in your own bricks and mortar.

Tenants staying longer

2008-12-15T16:30:00.001Z

We have noticed at haart lettings that Increasing numbers of tenants are choosing to rent their properties for longer periods because of the credit crunch.

We have seen average rental periods increase from nine months to around 14 months, with tenants staying for longer and opting for security and stability.

The number of people terminating their leases has greatly reduced as people are staying where they are, no doubt concerned about their employment prospects and the squeeze on credit.

Many would-be first-time buyers are opting to rent, even though property prices have come down significantly, preferring to see what happens to the market during the coming months.

As an experienced lettings agent, we are able to give plenty of help and advice to people choosing to rent, particularly if it is their first time. It is important they choose an agent like ours which is a member of the Association of Residential Lettings Agents, ARLA, to give them the peace of mind they require.

At the same time, we need to ensure that landlords’ rights are also protected, and while they are benefiting from having tenants stay for longer periods, we are also advising landlords they should include a break clause in case their tenants’ personal circumstances do change.

Price property sensibly for a quick sale

2008-11-15T16:33:00.000Z

At haart estate agents, we’re urging people who want to sell their properties to ensure they are realistically priced in the first place.

There are still lots of people looking to buy, no doubt keen to take advantage of the recent cut in mortgage rates. So we’re encouraging sellers not to have unrealistic expectations about what their property is worth in the current property market.

Over-inflated prices will put off buyers and lead to potential delays – and they may look elsewhere instead. Your property could end up on the market for much longer, possibly delaying important life-moves. If it hangs around for too long, people will be further put off because they’ll wonder what’s wrong with it.

On the other hand, If both price and property are attractive, you could get multiple offers and be able to negotiate a deal that’s not far off the asking price. Plus, if you are also looking to buy, you too could pick up a bargain, balancing out any losses incurred.

It’s very tempting to ask as much as possible for your property on the basis that you can always come down if you have to. But delays can wreck property chains. No one wants their sale to be delayed by a chain which has got bogged down because one of the vendors can’t sell.

The cut in mortgage rates means we now have many more people able to get cheaper deals; this means anyone with a well-priced property is now in a far better position to sell and we should see the green shoots of growth returning once more to the housing market.

Landlords advised to choose regulated letting agent for peace of mind

2008-10-05T09:00:00.000+01:00

As the credit crunch continues to bite, increasing numbers of estate agents are diversifying into lettings, without the necessary experience or training. In addition, more investors are putting their money into property over traditional stocks and shares, creating a higher demand for such services.

Getting it right the first time is always the best policy. Engaging the services of an ARLA-approved letting agent means the landlord will receive the professional help he or she needs to realise an income from their asset without the constant worry that something could go wrong.

Choosing a non-ARLA letting agent or going it alone may leave the landlord with a reduced financial return or hefty legal costs.

Potential pitfalls also include health and safety laws covering fire safety, gas and wiring, and Energy Performance Certificates. Breaches of the legislation can mean a big fine, or even losing the property to local authority control. Recent changes to tenancy deposit legislation require the deposit to be held in a protected account; if it isn’t, the landlord may have to pay three times the deposit to the tenant.

Landlords are invited to contact Spicerhaart if they have any queries, or would like to find out more about renting their property out. For more information, log on to www.spicerhaart.co.uk

Property safe haven for uncertain investors

2008-09-22T14:57:00.001+01:00

Investors who have lost faith in the stock market and banks and want something tangible for their money are increasingly turning to bricks and mortar as a safe place to invest their funds. Estate agents are currently noticing a strong growth in interest in all types of property, from dilapidated terraced houses to top-end mews apartments.

The credit crunch has pushed the price of property down, making it an increasingly sensible investment. What’s more, the cash buyer is in a far stronger position to negotiate price reductions than the person with a mortgage.

Capital prices have plummeted by between 15 and 20 percent in recent months as mortgage lenders tighten the purse strings. The sharp drop in values means residential property in particular is an increasingly attractive long term investment for investors with liquid funds.

The trend we are noticing very strongly is for people to turn their back on paper investments and put their spare cash into something they can touch and feel.

In the short term, the property market may go up and it may also go down, as we’ve seen. But the canny cash buyer can currently see income yields of up to eight percent. Equally importantly, their money is safer in property than in other forms of investment or savings which may no longer be the safe options they appeared.

Quick fixes for quick sales

2008-08-22T14:47:00.001+01:00

Homeowners struggling to sell should gain more kerb appeal by focusing on minor details to make prospective buyers see the potential in their property.

First impressions always count, and is now more true than ever. The basic rules apply wherever you live, and a small amount of time and money can make all the difference. It’s the simple things that make the most impact such as a fresh lick of paint, tidying up, making sure your home is well lit and that your garden isn’t a mess.

It is hard for many sellers to see the problems with their homes as they live with them day to day.

The best way to get a different view point is to ask your agent for some professional advice as to what you can do to improve your living space.

At haart, we always advise sellers to de-clutter and de-personalise for internal work. As ever, neutral colours are a must so that the potential buyers can imagine themselves and their belongings in your home.

Particular attention should be paid to kitchen and bathrooms as these rooms are most used in a home and are the main importance to most buyers.

Many people open kitchen cupboards when they look around a house, making a fantastic excuse to clear out all of the things that you don’t use any more.

In the bathroom, re-grouting the tiles, a new toilet seat, and a good scrub of the bath tub can be the perfect spruce up.

If you have a pet ensure you get rid of their odour and invest in some fresh flowers as scent can determine how buyers perceive a home. Opening windows before a viewing and banishing food smells are also very important.

Externally, mowing the lawn, pruning your hedges and putting colourful flowers in pots are sure to make an impact.

Also making sure the doorbell works and that your front door doesn’t squeak are must.

If you are feeling a little more adventurous, a new lick of paint on your front door will make the entrance to your home feel fresh and inviting, and according to the experts blue is always a winner!

Whatever the state of the economic climate, we would always recommend that you invest money in your property so that when the time does come to sell, your home will be in a prime condition and will obtain the maximum price possible.

haart scoops communications award

2008-07-18T14:43:00.006+01:00

I was extremely delighted to collect an award from Communicators in Business, in recognition of our excellent Fine haart glossy magazine.

We won a trophy for the Photography category in the East Anglia awards, plus an 'Award of Excellence' certificate for our haart ezine in the national awards.

We have invested substantially in haart and fine haart during the past year, with a new look on our signage and marketing particulars, plus our excellent new estate agency website, in order to deliver the best service to our customers, and to really stand out from the crowd.

We are always pleased to receive positive feedback, not just from our own customers but from experts within the industry, as excellent marketing undertaken by estate agents can really make a difference to the sale price.

Talking up the market

2008-06-10T12:36:00.003+01:00

Every day we open our papers and turn on our radios and TVs to hear about doom and gloom in the housing market. The truth is... it's not as bad as people are making out and, indeed, it's a good time to buy because prices have fallen in recent months.

Whenever the media releases one of these stories, they are making it worse and shaking consumer confidence, with the result that some transactions that are nearly complete are now falling through or being renegotiated.

What the media fail to realise is that if they continue to talk our market down, more estate agents will be forced to close and the media will lose out even more on their already dwindling income stream from property advertising. That in itself will impact on the print media in particular – who are already introducing their own cost-cutting measures as they too fight for survival.

So next time you see a columnist slating our industry and blaming us for the woes of society, I urge you to fight back. Theirs is the literature of ignorance and shows little understanding of what estate agency is about. We need to show those that pen words that contribute to our downfall they could in fact be contributing to their own downfall. It’s a vicious circle – and we’re all in this together.