A Property Market Update

Welcome to our latest newsletter. This month as well as showcasing some of our newest properties to come onto the market we also share some property market insights.

Autumn is in full swing, so now is the best time for landlords to be investing in property before the end of the year. The sales market boom is also continuing into Autumn, with no sign of slowing down. If you have been thinking about bringing your home to market why not start with our instant online valuation tool.

Thirlmere Close Longton, £300,000

MovingWorks present to the market, this chalet style dormer bungalow situated in a central village location. The property is set on a large corner plot offering front, side and rear gardens.

Three Bedroom Detached

Spacious Lounge Area

Garage Suitable For Conversion As Residential Annex

Click here to read Thirlmere Close Longton, £300,000.

Hunter Avenue Tarleton, Preston £190,000

We are delighted to offer to the market for sale, a three bedroom detached chalet style House. This property is located in a quiet spot in Tarleton village, a short distance to local amenities.

No Chain Delay

Ground Floor Shower Room And First Floor En-suite

Spacious Driveway For Off Road Parking

Click here to read Hunter Avenue Tarleton, Preston £190,000.

Hunter Avenue Tarleton, Preston £190,000

Movingworks present a three bedroom detached chalet style house. This property located in a quiet spot in Tarleton village, a short distance to local amenities.

No Chain Delay

Ground Floor Shower Room And First Floor En-suite

Spacious Driveway For Off Road Parking

Click here to read Hunter Avenue Tarleton, Preston £190,000.

Gill Nook Walmer Bridge, £230,000

MovingWorks presents to the market this three bedroom detached property situated in a central village location. This property is situated on a corner plot at the head of a quiet cul-de-sac.

Double Length Garage

Spacious Lawned Garden

Large Driveway

Click here to read Gill Nook Walmer Bridge, £230,000.

Liverpool Old Road, £90,000

MovingWorks present this opportunity to purchase a modern first floor flat situated within the desirable village location of Walmer Bridge ideally located for shops, amenities and transport links.

Spacious Lounge

Ideal FTB/ Rental Investment

Double Bedroom

Click here to read Liverpool Old Road, £90,000.

Our Top Tips On Moving Home

You have found your new property and are excited to finally have the keys in your hand – now you just need to move your possessions from your old home into the new model. We have put together some top tips to make this process as stress-free as possible.

Choose the right removals firm
It may seem like an easy task, but finding the right removal company to help to transport all of your goods will make all the difference. Depending on the amount of items that you are moving, and the nature of the items (for example you may need a specialist if you are moving a high-worth object like a piano) you may need multiple firms to help facilitate your move. Do your due diligence and rely on testimonials, as well as recommendations from your estate agent and, if possible, have a company come and give you a quote based on the items you would like to be transported. We would also recommend booking as early on as time will allow, as often people will want to move on similar dates, such as school holidays.

Get planning
Planning for your removal early will help you to deal with any excess moving stress, as you will know that you have everything in hand. Once you have chosen the right firm, you can get planning – from which rooms to start packing first, to how you are going to pack your items up. The only way to truly stay on top of things is through using lists – make a list for each room you are packing up and create a timeline also so you have visibility of how much time you have on your hands. Decide how much material you will need to pack your items in terms of boxes and wrapping to keep items safe – people always underestimate the volume they will require so try to be as generous as possible in your predictions.

Pack!
Of course, packing the actual items up is the name of the game, but it isn’t just a case of throwing things into boxes – there is a subtle art to packing that will help to keep you organised. We would recommend starting from the top of the house and moving downwards – pack up what is in your loft according to the frequency with which you use the items and then move through each room methodically. When packing electricals, pack the cables separately and then bind the wires with masking tape and write on the tape which appliance the cable is for, and with clothes keep them on the hangers and pop a black bag over the top of them using an elastic band to hold the tops of the hangers together.

Create A Fact File
A fact file is such a useful goldmine of information – essentially it is an information document that you put together about your property including details of where the stopcock is for the water, the gas and electricity switches and so on which will help the people moving into your home enormously. Speak to whomever you are buying your property from and have them create one for you using your own as a template – try to include as much information as possible as this will help you in the long run. Information can include heating systems and how to use, any warranties or guarantees on items in the property, bin collection days, reliable tradesmen you have used, burglar alarm details, paint colours around the house – the list is really endless but it should act as a handbook to the property.

Summer Property Maintenance Tips

Now that summer is availing itself, many of us are making the most of our outdoor spaces and enjoying the uptake in the weather. However, whilst we enjoy being outside don’t forget to keep your property ticking along during the summer months. Here are a few maintenance tips that should keep your property in tip-top condition over the next few months.

Check your gutters
After the cold winter months with freezing temperatures, gutters are at risk of leaks and especially following the recent spell of rainy weather which can move debris into gutters, summer is the ideal time to check their health. Leaky and unsecure guttering can lead to bigger problems of water damage to your property, as well as being a fall hazard. Whilst you’re checking your gutters, go ahead and check your drainage system at the same time to ensure that there aren’t any blockages there, too.

Doors and windows
Similar to your guttering, doors and windows have been through a rough period by the time summer is in full swing. With the cold months of winter potentially cracking door and window seals, followed by spring showers causing further damage, it is imperative to check your doors and windows. Of course, if you have double glazing this is less of an issue, but checking that your seals are in order is certainly a good use of half an hour during the summer to stop any problems later on in the year.

Central heating
When the weather heats up, the temptation is simply to turn off the central heating, give the radiators a holiday and then start everything back up once temperatures inevitably plummet. Keeping the heating on a low-level through the colder summer days will keep the central heating system ticking over and also prevent any damp issues. During the summer, bleeding your radiators will also ensure that they remain efficient – if you’re unsure of how to do this then a quick search online will direct you to some intuitive videos. If you go on holiday during the summer, the same applies; keeping the heating on a low level may save you larger problems in the long run.

Sound the alarms
Whilst a check of your smoke and CO2 alarms may not seem like a particularly summery activity to be carrying out, you should be checking these units several times a year. By building these checks into your summer list of tasks, you are keeping yourself and others safe.

Insulation throughout the seasons
Updating your insulation may intuitively seem like a winter task, but part of keeping your home cool and comfortable in the summer is good insulation as this will stop heat penetrating the building. Of course, when it comes to the winter months you will also reap the benefits of insulation as it will keep the heat from escaping, ensuring a cosy property when the temperatures begin to plummet.

Property Market Springs Back To Action

With an estimated £82 billion of property transactions on hold due to coronavirus, the Government's announcement in the middle of last month that operations could resume, with the appropriate measures in place, was welcome news to many.

The immediate effect of the reopening of the property market could be seen clearly on the property portals – with a distinct spike in searches for properties the day after restrictions were lifted. Rightmove recorded over 5 million visits on 13th May and reported that sales demand doubled from Tuesday (when restrictions were still in place) to Wednesday.

The spike in property searches can be attributed to the many people who have had to put their property search on hold due to coronavirus and are now looking to move quickly in order to avoid their own chain collapsing, or just to take advantage of current circumstances.

A shift in attitude is also noticeable in terms of the types of mortgage which are being searched for – with a move away from remortgage loans to purchase mortgages. Mortgage technology firm Twenty7Tec reported a 27% week-on-week increase on 17th May for the volume of searches being completed.

“We are starting to see significant volumes return to the market – with searches for purchase mortgages in particular rapidly gaining pace. Searches for purchases are now at 44 per cent of pre-lockdown highs, up from lows of 15.6 per cent in mid-April” explains James Tucker, chief executive of Twenty7Tec.

Miles Shipside, Rightmove director and housing market analyst, said: “The traditionally busy spring market was curtailed by lockdown, but we’re now seeing clear signs of returning momentum, with the existing desire to move now being supplemented by some people’s unhappiness with their lockdown home and surroundings.

“Some may be unable or unwilling to move now, but those who are ready to take the plunge have jumped immediately into action.

“Unique enquiries on property for sale doubled from the day before, though we expect consistent momentum to rebuild over several months rather than weeks.

“With no new seller asking price data it’s too early to comment on price movements, though high demand is needed to support a stable market.

“If there are attractive lower deposit mortgages available it would help sustain the recovery in activity. The industry has been caught by surprise, as we were all expecting the housing market to stay closed until at least June.”

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Why property is the best investment avenue in 2020 for landlords

The rental market has been extremely active this year, bouncing back from its temporary closure in record speed.

Could now be a good time to invest and grow your portfolio as a landlord?

Rental prices are up

In the past month, UK rental prices have increased by 2.1%, now standing at £987 PCM on average – up 1.5% from last year.*

Following analysis taken across the country, it was found that ten out of twelve regions have shown an increase in rental prices since 2019, with two of those areas showing an increase of over 5%.

The South West has demonstrated the strongest increase, with an average 6.6% boost.

Whilst London’s rental market does not show an increase, at an average rental value of £1,653 per month, landlords based in the capital should still expect healthy returns from their investments this year.

Enquiries from tenants at their highest

Recent analysis from ARLA Propertymark has revealed that registrations from new tenants have shot up to 101 per lettings branch last month, breaking July’s record of 97 newly registered applicants.

We’re simultaneously seeing average tenancy lengths at an all-time high for August, with tenants staying put for 21 months.

One reason behind these figures is that nearly half of first-time buyers are deferring their plans to buy; either due to financial difficulties (41%) or because lockdown has prompted them to reconsider their priorities (42%).**

Mortgage rates remain incredibly low, with high demand and savings making it an opportune moment to consider your first or next step as a buy-to-let investor.

*Source: HomeLet Rental Index, Estate Agent Today

**Source: Aldermore

No end in sight for sales market boom

There are a number of key reasons that make October 2020 an exceptional time to begin your next property transaction. Here are just a few examples to take your pick from:

- Stamp duty savings worth up to £15,000

- Mortgage approvals and sales at a 13-year high

- 5% annual property price growth – as reported by Nationwide

- Buyers are keen to act immediately, leading to increased levels of accepted offers

Across the UK, many of us are experiencing restlessness with our living situations.

We’ve spent all summer cooped up, so it’s no wonder that as we head into October, we’re seeing a rising sentiment amongst buyers and sellers that now’s the time to take your property plans off pause and get moving again.

After their House Price Index revealed a four-year high price growth, Nationwide conducted further research to establish which regions are seeing the strongest levels of interest from Brits.

As the below research tells you, one in five homeowners (17.7%) are currently considering moving, with a further one in ten (9.9%) well on their way to completing on property transactions in 2020.

Table for homeowners who are either in the process of moving or are currently considering it as a result of the COVID-19 outbreak.

Region	Considering moving	Moving
London	25%	17%
South West	21%	11%
West Midlands	20%	11%
East Midlands	23%	8%
South East	18%	9%
North West	16%	11%
Yorkshire and Humberside	18%	9%
East	14%	11%
Scotland	17%	7%
Wales	12%	10%
North East	11%	5%

With the market showing no signs of slowing down, what can you do to speed up your sale and ensure you are able to take full advantage of current market momentum?

An important part of the process is choosing who will represent your interests.

As the local property experts in your area, we’d hope you’d think of us first for your property interests, but there’s also the matter of finding the right solicitor or conveyancer.
Here are our tips for a seamless experience with your legal representative.

Respond quickly and clearly

We get it – receiving a request for different bits of paperwork can be off-putting.

After a long day at work, the last thing you’ll want to do is wade through files to find the right answers or items being asked for.

However, failing to respond promptly will only hurt your sale or purchase. Taking a week or two to respond can delay the whole process and risks pushing your transaction to the back of the line.

So, if at all possible, make sure you’re getting back to your solicitor within a couple of days.

Prepare before every call

There will be dozens of questions that occur to you along the way, so to maximise your time and build an efficient dialogue with your solicitor or conveyancer, prepare a list of questions before each phone call.

That way, you can avoid missing something crucial.

Be flexible

Having a fixed timeframe in your head can be a useful way to visualise and track your progress towards the finish line.

That said, it’s important to balance your wants and expectations with what is actually realistic.

A good agent will be able to help you determine this from the beginning.

For more information on how we help homeowners navigate the local market, contact us today for your valuation.