Our March Newsletter

Our March Newsletter




Find out about everything conveyancing

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One in five could be looking to buy this year

If you’re thinking of selling your home, you’ll be pleased to know that home buyer demand was reportedly up 35% at the end of January, compared to the same time last year. *
 
According to figures published on the Property Reporter website, in February, an independent survey of over 2,000 adults in the UK found that 18% intend to purchase a new home this year, increasing to 34% when looking specifically at respondents aged 18-34. *
 
The pandemic has influenced the features people look for when home hunting. The move to remote working means 43% of those who said in the survey that they were planning to buy a property this year, will be looking to buy in a different area to where they currently live, and the ongoing ‘race for space’ means competition remains high for homes with gardens and home offices. *
 
If you’re thinking of listing your home for sale while demand is high, get in touch today for a free, no-obligation valuation.
 
*Property Reporter
 



The secrets to finding your ideal home this spring

 
Purchasing a property is an exciting experience and is the single largest purchase most people will ever make. Finding the perfect home can be a difficult task, so before you begin, consider these four things:
 
Select your location
Only begin searching for a new home once you have determined a selection of locations you are interested in living in. It is important to consider council tax charges, proximity to amenities and schools, available property types, and available transport links.
 
Compile a must-have checklist
Create a list of all the features that are a must, followed by all the features that would be nice, but are not essential. When looking for a house, you can then ensure that everything on your 'must-have' list is ticked off and that everything on your 'nice-to-have' list is a bonus. When it comes to comparing homes, you can see which ones check the most boxes to help you make a final decision.
 
Consider your future needs
To prepare for the long term, consider choosing a property that will support your growth. Is there enough space? Is there a garden? Are there any improvements you could make, such as converting undeveloped space? These are the kinds of factors to examine.
 
Look at all costs
Of course, finding a property within your budget is important, but you should also factor in other expenses, including house improvements. If you find a property that you believe would be great with a few tweaks, consider the financial implications of those changes. While some may be minor, such as wallpaper or paint colour, others, such as replacing the flooring or reconfiguring the kitchen layout, could be rather costly.
 
For more assistance in locating your ideal house, you can get in touch with us here. We look forward to helping you find your dream home.
 



Annual property price growth accelerates to 12.6%

Recent statistics show that annual house prices are continuing to grow at outstanding rates.

 

Average annual property prices rose from 11.2% in January to 12.6% in February, the strongest pace of growth since June 2021. After seven consecutive months of climbing prices, we saw a month-on-month increase of 1.7% in February, showing that the market is still very much in favour of sellers. *

 

Since the start of Nationwide’s monthly index in 1991, there has never been as big of an annual growth in prices, as there was in the year leading up to February 2022. The price of a typical home now averages above £260,000, demonstrating an increase of over £29,000 in just twelve months.

 

In comparison to February 2020, UK property prices are now 20% higher – meaning sellers can now achieve up to £44,138 more for their property than they could before the pandemic. *

 

With market activity remaining robust, demand for properties still high, and mortgage approvals running above pre-pandemic levels, it is safe to say this combination is creating a great market for sellers.

 

Have you been thinking of selling this spring? Book your valuation with us today.

 

*Property Reporter