The latest news from Town & Country

Is it still location, location, location?

 

Faced with the prospect of a lockdown-free summer, buyers are anxious to move quickly, resulting in record numbers paying over asking price to secure their dream property.

 

With leading experts predicting that the house buying frenzy is here to stay, is location still as key as it used to be for buyers?

 

In the space of just 18 months, we've seen homebuyers rush to the countryside and back to cities again, as they've swapped lifestyles and jobs to better suit their own needs post-lockdown.

 

However, while requirements have altered dramatically for some, the popularity of online searches for the perfect location shows that this remains high on the list of buyer priorities.

 

So, what stands out as the perfect place for today's buyers?

 

- Access to areas of green, open space or gardens has become an immediate priority for many homebuyers.

 

- Now lockdown is coming to an end, people want to be close to cafes, restaurants, leisure amenities and shops once more to make the most of their freedom.

 

- Being close to the office is also becoming important again, as people adopt a hybrid style of working. This has also brought demand for a suitable working space at home, as well as a fast and reliable broadband connection.

 

- Being in a good school catchment will always be a priority for families.

 

- Buyers are doing their research into future developments in the area, like new schools, hospitals, shopping facilities or public transport links, as they can dramatically affect future house prices.

 

Location is a key factor in driving up demand.

 

If you’re looking to find the perfect location or sell your property, get in touch today.

 

 

 

Changes to the Right to Rent scheme

 

First introduced in 2016, right to rent checks have been a core part of the check in process for landlords and tenants.

 

What is the right to rent scheme?

 

Right to rent is a government policy, which requires landlords to check their tenants’ immigration status.

 

It also means they must refuse to let a property to anyone who can’t prove they have a right to rent.

 

What changes have been made?

 

Significant changes were made to right to rent checks in order to facilitate these over the course of the pandemic, such as with an online checking service and changes to accepted documents.

 

 

These digital processes are temporary measures only that are to be permitted until September, i.e. video checks or accepting scanned photos in lieu of in-person checks.

 

However, some concern has arisen due to the imminent deadlines for both the EU Settlement scheme and video checks, meaning some applications could be in limbo until further clarity is provided from the government. 

 

For more guidance, please visit: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_

data/file/994998/Landlords_guide_to_right_to_rent_checks.pdf

 

 

Or for advice regarding right to rent checks and our lettings packages, contact us today.

 

 

Home improvements for summer

 

Over the last 18 months, the number of Brits undertaking DIY projects and renovations has jumped significantly, as we found new ways to pass our time in lockdown and improve our living situations.

 

But, which home improvements have the biggest impact to your property's value?

 

Extensions

 

Adding an extension is one of the most popular home improvement projects, adding up to 23% to your home's sale price.*

 

In fact, in northern regions over 2020, there was a double digit increase in planning permission applications for extensions.

 

Garages

 

Adding a garage is a great way to expand your home.

 

Having a property with secure parking can lower the price of your car insurance policies, as opposed to on-street spaces, whilst making your home more attractive to buyers.

 

Loft conversions

 

Loft conversions are a brilliant way of creating extra space out of an area that is rarely used, whilst contributing an additional 20% in value to your property's price.*

 

Due to COVID-19, people are looking for space for home offices.

 

A loft conversion is the perfect solution!

 

Conservatories

 

One of the great advantages of building a conservatory is that planning permission is more straightforward.

 

It also adds around 5% to the value of your house.*

 

Outbuildings and sheds

 

Green space has become massively important to us.

 

Having an outdoor space that can be used for storing gardening equipment or even as somewhere to relax is highly desirable.

 

Find out how much your lockdown improvements have added to your property.

 

Book a free valuation with us today.

 

 

 

 

 

*Nationwide, Homeowners Alliance and Conservatory Expert

 

 

Post-pandemic predictions for the property market

 

After 18 months of uncertainty, the UK property market has seen some incredible highs and lows, from the sector closing and reopening last spring, to the impact of the stamp duty holiday on residential transaction levels.

 

For those looking to buy or sell in 2021, here are the top projections on what will continue to shape activity levels in the coming months.

 

House prices at a record high

 

Initially propelled by the stamp duty holiday, house prices have risen by 10.2% in the year to March 2021, with vaccine optimism now fuelling high demand levels.*

 

With a tapered end this September, homeowners can still save £2,500 on the first £250,000 of a property due to the stamp duty holiday, meaning that sales will continue to push up prices this summer.

 

If you haven't had a recent valuation of your home, talk to us today to gauge its current value.

 

The long-awaited return of overseas property investors

 

Travel has been made all-but-impossible for most travellers.

 

However, with vaccine programs being rolled out in other countries as well as the UK, we should soon see the return of overseas buyers looking for their next investment opportunities.

 

This will be key to help the market fully recover from the events of 2020, particularly for the construction sector.

 

Country locations increase in popularity

 

Remote working became the norm for most of the country's workforce in 2020, which gave people the freedom to move further afield.

 

As outdoor space went up in our estimations, the need for a perfect commute distance became less important, leading to more buyer activity as homeowners and tenants found themselves restless with their current accommodation.

 

More space for remote workers

 

For those whose job will continue to operate remotely, a home office or designated workspace is essential.

 

Larger properties are in short supply, making it the ideal time for homeowners to sell up.

   

Commercial spaces transformed into residential properties

 

Commercial spaces are being left empty, as many people are now opting to work from home, where able.

 

This means that many offices have closed permanently, leading the owners to convert them back into residential properties.

 

Overall, this could have a massive impact on the market.

 

 

Do you want to know your options buying or selling this summer? We'd like to offer you a consultation, visit our website to learn more.

 

 

 

*ONS