The latest from Moving Works

Welcome to our latest newsletter. This month we share some property market insights. 

Firstly, we look at how the housing market is seeing the strongest spring in a decade. Also, we share news that mortgage approvals are at their highest since the financial crisis, alongside showing you the top ten scents to sell your home

To finish the newsletter, we look at how a year of lockdown has changed our priorities.

If you have been thinking about bringing your home to market why not start with our instant online valuation tool.

From all of us at Movingworks, as we come to the end of April, we hope you have a great bank holiday, stay safe!

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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Help-to-buy extension has been confirmed

The deadline for the current help-to-buy scheme is set to be extended by a further month – taking it to the end of March – in order to take into account delays to the sector caused by the pandemic.

 

Aimed at first-time buyers, it was during July 2020 that the practical completion deadline was initially extended from the end of December to February 28th this year.

 

This came down to matters regarding COVID-19 and how the current climate has drastically affected the property market as a whole, whereby the government were asked to rethink the date in order to benefit those looking to step onto the property ladder and move into a new build home.

At this point in time, practical completion can be done up until March 31st, however, that stands as the final deadline for legal completion.

 

The only exemption is where Homes England has previously granted extension to legal completion regarding those homes reserved before June 30th 2020, and who now have until 31st May.

Statistics that were officially published last year indicate that 278,639 new homes were bought on a help-to-buy scheme between April 2013 and June 2020.*

 

If you require further guidance or support, please don't hesitate to contact a member of our team today.

 

*GOV.UK

 

 

How the pandemic impacted the housing market

It would be somewhat of an understatement to say that the pandemic led to confusion and uncertainty for businesses last year.

 

The property market went through a lot in 2020, with huge repercussions on the way in which people now buy, sell, let and rent.

Not only did the various stages of buying and selling change, but we saw a massive U-turn in the way that the population thought about their homes, with Santander releasing data in September on record numbers of homeowners applying for loans to increase space and renovate.

 

More buyers were searching for bigger properties, including for larger family homes and increased outdoor space.

 

Something else that changed over the last 12 months – according to Editor of Luxury Daily, Alam Khan – is the way that affluent buyers are approaching the market; not only in how it will look but where they want it to be.

Prior to the pandemic, many high-powered business owners and working professionals would choose to live in their primary residence closer to the office.

 

However, many people have found remote working easier than anticipated, with companies able to save money and likely to close their physical premises completely.

It is safe to say that – overall – the pandemic has impacted the property market for the better.

 

Are you looking to move this year to better suit your working situation or lifestyle?

 

Browse our properties or speak to our local team for a valuation of your home. 

 

 

Housing market sees the strongest spring for home sellers in a decade!

Many of us have been thinking about selling our homes in recent months, with a record number of buyers enquiring about properties on Rightmove.

 

Compared to this time last year, demand levels are 34% higher; even in light of the market's pre-pandemic surges in activity at the start of 2020.

 

There were moments of concern when thinking about how the rest of 2021 was going to play out, with a predicted cliff edge, but thanks to the stamp duty holiday extension and the 5% deposit scheme, buyer demand will be further boosted throughout this month and next.

 

The average asking price for a home coming to the market has risen by 2.7% in just the past 12 months, bringing the average house price to £321,064 in the UK.

 

National average asking prices.

 

Month	Avg. asking price	Monthly change	Annual change	Index
March 2021	£321,064	+0.8%	+2.7%	248.2
February 2021	£318,580	+0.5%	+3.0%	246.3

  

 

Despite fewer properties coming to market, the number of sales agreed for the first week in March was still 12% higher than 12 months ago, whilst almost two out of three properties currently on agents’ books are sold subject to contract.*

 

If you are thinking about taking advantage of this incredible demand and would like a quick sale, please book a valuation to start the process.

 

 

 

*Source: Rightmove

 

 

Mortgage agreements for early 2021 at their highest since 2007

Mortgage approvals have reached a 14-year high, propelled by last year's property market boom.

 

The Bank of England’s mortgage data from the end of last year shows a 24.2% increase in mortgages agreed compared to the previous year, and at any time since the global financial crisis, with £87.7 billion worth of mortgages agreed.

 

In Q4 2020, mortgage lending reached £76.6 billion, with a year-on-year increase of 4.2%, whilst the share of mortgages with a low loan-to-value was 4.5% down in a year; the lowest since 2007.

 

Considering that the housing market was effectively closed for two months in 2020, it is incredible to see that the year ended with more approvals than the one prior.

 

The value of new mortgage commitments hitting a 14-year high was largely driven by homeowners who looked to move into larger properties and see savings of up to £15,000 from stamp duty tax in the process.

 

This activity has resulted in the annual growth rate for new mortgage commitments almost quadrupling in Q4 2020.

  

April should signal a turning point for first-time buyers, who will now have access to 95% mortgage options once again due to government-guaranteed support.

 

Having been absent until now, it's thought that the return of lower deposit mortgage products will lead to more positive growth for the sector in 2021.

 

As we head into the popular seasons for home selling, with schools and businesses reopening and the vaccine program continuing to take effect, we'd like to help you with your plans this year.

 

To learn your property's value, visit our website.

 

 

 

The top 10 scents to have in your home

There are many steps you can take to help attract prospective buyers, including cleaning and clearing away clutter, but what you may not know is that certain scents could help showcase your home and encourage buyers to put in an offer.

 

In a study of 2,000 people, UK mortgage comparison site – Bankrate UK – discovered that the nation’s favourite homely scent is freshly baked bread.

 

They also found that three of five age groups agreed that the scent wafting through the house not only provides comfort but also helps make your property more desirable.

 

Planning on putting your house on the market?

 

Check out what other scents you could be using that will help sell your home and where you should have them.

 

 

Top 10 scents to have in your home

 

- Freshly baked bread (38.6% popularity)

- Fresh linen (32.8% popularity)

- Coffee (28.7% popularity)

- Vanilla (18.8% popularity)

- Lavender (17.5% popularity)

- Fresh cut grass (15.7% popularity)

- Cinnamon (11.7% popularity)

- Chocolate (7.7% popularity)

- Blossom (6.8% popularity)

- Sandalwood (6.7% popularity)

 

 

Top scents by room

 

Living room – woody or oriental

 

Hallway – floral or oriental

 

Dining room – sweet

 

Kitchen – citrus

 

Bedroom – aromatic

 

Bathroom – citrus

 

Home office – woody or oriental

 

 

To start the process of buying or selling this month, contact our team today.

 

 

The key trends we have noticed during the pandemic

A year of being homebound has given us a lot of time to reflect on what's important in our personal and professional lives, and we've seen a huge shift in attitudes within the property sector too.

 

Over the last 12 months, there has been a huge change in the way homeowners and tenants view their homes.

 

Here are just some of the significant developments since the pandemic:

 

 

Home renovations have spiked massively

 

Being trapped inside has left people with plenty of time to reassess their current living situation and notice cracks and flaws they'd previously been able to overlook.

 

As working from home became a 'norm' for the country, we found that our living spaces were impractical and did not help us maintain a healthy work-life balance, with issues over Broadband speeds, unsuitable desk set-ups and distracting environments.

 

Regardless of the restrictions in place, it was so essential for the UK workforce to have more space that over 60,000 applications for planning permission were submitted by homeowners wanting extensions.

 

Over this period, we have also spent a combined £55 billion on renovations and DIY projects.

 

When asked, 63% said their reasons for completing renovations right now was due to having spent more time at home and wanting to improve their living situation, whilst other common reasons were to prepare their property for sale.*

 

 

More homebuyers are looking to escape to the country

 

As a result of our search for more space, Rightmove have reported a 69% rise in the number of sales being agreed for properties in rural areas, compared to 49% in urban areas.

 

With spring and summer on the way, as well as the prospect of lockdown regulations being lifted, many Brits are currently on the search for bigger gardens and a new lease of life with larger properties.

 

 

 

If you are looking for more information on recent changes in the market, get in touch with one of our expert agents.

 

*money.co.uk