Properties will sell at the right price
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.
Labels: Darlows, estate agency, estate agents, Felicity J Lord, haart, Haybrook, properties, property market, property prices, Spicer McColl, Spicerhaart
New stamp duty threshold is of national significance
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.
Labels: estate agency, estate agent, estate agents, first time buyers, haart, housing market, properties, property market, property prices, Spicer McColl, Spicerhaart, stamp duty
Landlords must be aware of new planning rules
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.
Labels: ARLA, buy-to-let, Darlows, haart, Haybrook, landlords, letting agencies, lettings, properties, rent property, rental properties, rentals, Spicer McColl, Spicerhaart, tenants
Open House brings buyers flooding through the doors
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.
Labels: estate agent, Felicity J Lord, haart, haart sales estate agent agency, Haybrook, housing market, properties, property market, property prices, Spicer McColl, Spicerhaart
A successful spring for landlords is predicted
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.
Labels: ARLA, buy-to-let, haart, landlords, letting agencies, letting agent, lettings, lettings agencies, properties, rent property, rental properties, rentals, tenants
Festive season expected to drive buyer demand
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.
Labels: estate agency, estate agent, properties, stamp duty
Sales up 44% as haart experiences strong first half-year results
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.
Labels: mortgages, properties, property market
New refurbishment service offered to local landlords
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.
Labels: haart, landlords, lettings, properties, rentals
