A Property Market Update

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. 
Winter is in full swing,  to fully embrace the season follow our hacks for keeping your property warm and cosy. With the market still open during the second lockdown read about why you should consider buying or selling before Christmas.

Further in the newsletter we share insight into the Impact Covid-19 has had on landlords, as well as celebrating our busiest ever autumn. 

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 you should consider buying or selling before Christmas

 
There are a wide range of influences that can prompt people to buy or sell in the run up to Christmas.
 
With market momentum showing no signs of slowing down, we've pulled together the key reasons to explain what's behind property market activity at this time of the year.
 
 
Avoid unpredictability

In 2020, it's fair to say we've all had a rollercoaster of a year so far, with the pandemic and Brexit negotiations making it hard to predict what could happen in the months to come.
 
However, what we do know right now is that the property market will remain fully open and that agents are being actively encouraged to continue progressing sales and lets, which should give homeowners and movers confidence regarding current market conditions.
 
At the same time, there's also the stamp duty holiday to consider.
 
Ending in March 2021, the scheme will mean you could save thousands off your next property purchase, incentivising many of us to make full use of the savings on offer.
 

Stand out

With some homeowners hesitant to buy or move in the winter months, you're guaranteed better chances at finding serious buyers and seeing less competition for their attention.
 
Whilst November and December are months that traditionally see more motivation from home movers, this will be especially prevalent this year, with everyone invested in completing before the stamp duty deadline.
 
Meanwhile, as a buyer, your offer is likely to stand out, meaning you can reach 'sale agreed' sooner than in other seasons.
 

Interest rates

At the moment, interest rates are at a historic low, making it one of the best times to find a great deal on mortgages.


Don’t get caught out in the spring rush

In the past, we've experienced a spring rush, as those who had delayed their move for warmer months flood back to the market.
 
Increased competition can often mean that you initially receive fewer viewings and offers, with buyers' attention divided by the new listings coming onto the market.
 
By avoiding the spring rush and starting the process now, you could secure a buyer in advance and be in your new home in 2021.
 
 
To get started with your property sale or search, contact our experienced agents today.
 
 
 



What impact has COVID-19 had for landlords?

 
Since the pandemic hit the UK earlier this year, landlords and tenants have felt the financial strain.
 
Here's how the latest developments are expected to impact the property market this autumn.
 
With the government's furlough scheme extended in line with the introduction of the second national lockdown, offering 80% of an employee's salary, it's thought that many will benefit from this respite over November.
 
However, with the future still largely unknown, it's understandably a stressful time for tenants unable to continue paying their rent and landlords who have seen reductions in their income.
 
Between March and August this year, ONS estimate that the number of workers on a payroll decreased by a worrying 695,000.
 
One of the hardest-hit groups is the under-24s, with 156,000 fewer individuals of this age in employment compared to just three months ago.*
 
Comparatively with homeownership in the UK, recent research has found that 92% of homeowners are confident they could continue to meet their mortgage repayments in the next six months, whereas the same could only be said for 81% of tenants about upcoming rent.
 
Up to 12 million Brits will struggle with rent and bill payments in light of COVID-19 and its continuing economic fallout.**
 
Whilst the government have extended the mortgage holiday for struggling homeowners and landlords by a further six months, it's advised to speak with your lender directly and to only consider this as a last resort.
 
During this holiday, interest will still accrue, which could add a significant amount for you to pay off after it has run its course.
 
If you need professional advice on any of the contents covered here, please contact our team.
 
 
 
 
*Source: BBC News
**Source: The Financial Conduct Authority
 



Busiest ever autumn? Buyers, prices and supply all up and rising

 
Buyers up. Prices up. Supply up.

An astounding number of homeowners and movers are progressing with their sale right now, with 140,000 more buyers in the process of completing when compared to this time last year.
 
Since the end of the country's spring lockdown, we've seen record levels for properties reaching 'sales agreed' in the UK, culminating in there being 50% more homes going through the system as buyers rush to meet the stamp duty deadline.

Zoopla estimates that there are currently over 418,000 sales in the pipeline awaiting completion, with an overall value that's over £112 billion.
 
 
What are the key facts and figures behind all of this market activity?
 
- Sales agreed hit an annual high back in August, showing a 62% year-on-year uplift.

- There has only been a slight change in pace, as sales agreed were running at a 53% year-on-year uplift this month in comparison to October 2019.

- Regionally, sales agreed year-to-date are up the most in the South East by 15%, followed by London at 12% and the East of England with 11%.
 
 
With the deadline for stamp duty savings looming, what can you do to increase your chances of completing in time?*
 
To avoid any disappointment, make sure you can do your bit to help move the process along, follow these tips:
 

Acquire a reliable solicitor
 
Over lockdown, the housing market will remain open, including for agents, solicitors and conveyancers.
 
Having gone through this once before, these representatives should be fully prepared to provide a seamless experience whether from home or the office.
 
Meaning once an offer's been accepted, you can move to the next stage without any unnecessary hold-ups.
 
 
Identify issues early on

A conveyancer will identify any problems and will offer solutions.
 
Obtaining the relevant information and agreeing a positive way forward will take time. If you know your issues early on, try and get them sorted as soon as possible and keep your solicitor updated.
  

Manage the chain

If you are in a chain, issues may arise that are beyond your control.

It is important you understand your dependencies. Talk to your seller, buyer and their agents regularly, monitoring what is happening with any related transactions and making sure you're all working towards the same target; that being, the same completion day.

Good communication will keep things on track and avoid any delays along the way. Talk to us today for more information.

 
 
*Stamp duty holiday ends March 2021.
 



10 cost-effective hacks for keeping your property warm and cosy

 
With much of the UK workforce now operating under lockdown again, it's estimated that we'll see a collective hike of almost £2 billion on our energy bills at home.*
 
Here are our top ten cost-effective hacks to keep you warm this winter:

Cover up bare flooring – wooden floors can be notoriously cold, but thinner carpets can also be chilly. The addition of a thick, cosy rug can really make a difference to the warmth of the room, whilst adding a stylish touch.
 

Be smart about furniture placement – similarly to adding staple pieces such as a fluffy rug to a room, other larger pieces of furniture can make a huge difference, as can their placement in your home.
 
Any furniture blocking a radiator should be rearranged to ensure that the heat can flow around the room more evenly, creating an overall warmer environment.
 

Use draft excluders – these can be particularly useful if you are renting an older property.
 
Place these in front of doors to keep the heat in. This will save you money on your energy bills as less heat will escape the property. They can also be matched to your current interior.
 

Let the sun in – on sunnier days this winter, open your curtains and let the sun warm up your home. Sunlight is not only great for naturally warming you up but also for your mental health and energy levels. 
 

Keep the heating on low – this may sound bizarre, but having your heating on a constant low level during the day can lessen your energy bills.
 
This prevents the periodical off-on that will cost you more in the long run. Similarly, this will avoid pipes bursting when the temperature drops below zero.
 

Heavy curtains – another way to keep the heat in this winter is to hang heavy curtains or blinds near your windows, as the fabric will absorb the draft that would otherwise be coming into your property.**
 

Keep doors closed – once your heating or fire is on and warming up your property, ensure you keep doors closed to keep the rooms you’re using nice and cosy, rather than letting heat escape into unused sections of the house.
 

Be selective – any rooms that aren’t used regularly, such as guest bedrooms and bathrooms could be costing you extra money on energy bills.
 
To avoid this, turn the radiators in these areas down, keeping them on low to avoid the pipes freezing.
 
Similarly, areas such as the kitchen and bathrooms won’t need to be heated as much as your living room, so remember to take this into consideration.
 

Block your chimney – if you’re lucky enough to own or rent a property with a gorgeous chimney, these can be a huge culprit for making your home chilly.
 
To avoid this, try purchasing a low-cost chimney balloon. These can be inflated inside the chimney – out of view – and will block cold air coming in, as well as preventing heat escaping.
 

Bundle up – it wouldn’t be a 'keeping warm in winter hacks' piece without mentioning layering!
 
As clichéd and predictable as it is, wearing a jumper, dressing gown or a fluffy pair of socks is a great way to stay warm on a budget. This paired with a warm drink and a bowl of soup creates the perfect cosy evening in.
 
 

For more information or support with your property, contact our team today.
 
 
 
*Source: The Guardian
**Notice for tenants: if any alterations to your property are needed to make this change, please ensure you have permission from your landlord prior to doing any work.