The latest news from Town & Country

The latest news from Town & Country




What's happening in the UK property market?

 
After two years of high market activity, you’d be forgiven for thinking the tide is ready to turn. But despite burgeoning constraints on household finances, the buying frenzy continues, with properties still selling at almost record speeds nationwide.* 

 

But what’s driving this situation? The leading cause appears to be a general lack of supply. From delays brought about by the pandemic to a shortage of new homes across the UK, the supply-demand ratio is proving difficult to balance.  

 

Low interest rates and rising inflation also mean that buyers hope to reduce their potential mortgage debt. This combination of factors has contributed to UK house prices increasing by 9.8% between March 2021 and 2022 – adding £24,000 to the average value.** 

 

The market is still strong as we move into the summer months – and will most likely remain so for the foreseeable future. 

 

Do you know how much your home is worth right now? If you’re thinking of selling, book a valuation with us today.  

 

 

*Home.co.uk. 

**UK House Price Index 



Make your summer house move stress-free with children

 

 

Even if you've discovered your dream home in the ideal location, the process may be stressful, especially if you're relocating with children. 

Whether it's for a new career opportunity, to be closer to family, or to make a necessary lifestyle adjustment, uprooting your life may make sense to you. Your children, on the other hand, may not be as understanding, as everything they know and are used to is about to change. You can use a few tricks to make the transition go as smoothly as possible. 

 

As soon as possible, inform your children 

 

According to some parenting experts, you should tell your children as soon as possible. It may be difficult to remain a secret for long, as you will almost certainly have possible buyers coming in and out of your home, and your children will notice something is different. You don't want to keep anything from them because it will just add to your stress level, so inform them as soon as possible to make them feel included. Include them and make it more exciting by allowing them to help choose the new house and plan what they want to take with them if they're up for it.

  

Allow them to be emotional 

 

It may be difficult to watch, but when your children scream or throw tantrums, remember that this is a normal reaction and that you should allow them to be upset. Their entire lives are changing, and the relocation may be separating them from friends, cherished family members such as grandparents, or a childminder they've known since childhood. Instead of becoming furious, try to understand why they aren't accepting the changes immediately. Each child is unique and adjusts to change at their own rate, but it often takes six months for children to adjust to their new life in a new place. 

 

Talk about what will remain the same 

 

The stress of so much change might be difficult for your children. Rather than focusing on what will be changing, remind them of what will remain the same. Their bedrooms may differ, but their possessions will be identical. Even if their schools are different, all of their after-school activities will remain the same. It may be difficult for them to focus on the similarities, so try your best to remind them as much as possible. 

 

Stick to old routines 

 

Just because you've moved to a new location doesn't mean you should abandon your old habits. Remember that you need to keep certain pieces of your previous life constant for your children to adjust, and keeping at-home routines running is a terrific way to do so. If kids have certain after-school rituals, try to stick to them as closely as possible, even if some things change. 

 

Prepare everyone 

 

Don't be caught off guard when it comes to moving day! Starting the moving process as soon as possible will help you avoid a last-minute rush to pack and clean. It's a good idea to prepare an overnight bag for everyone for both the last night in your old home and the first night in your new one, so you don't have to unpack right away after a long day. 

 

Allow your children to express themselves 

 

Allowing your children to participate in the entire moving and packing process will provide them with a sense of stability and control over the changes in their surroundings. Ask about their thoughts on topics such as what to pack and how to decorate their new rooms! 

 

Contact our friendly team for useful guidance on all areas of moving home, and we will be happy to assist. 

 



When is the fastest time to sell during the summer?

 

Did you know that the time you choose to list your home for sale, is a crucial factor in the price you might achieve for it? This is because demand drops during certain months of the year, leading to fewer potential viewings and offers. Unfortunately, buyers are likely to be more cautious about a property that’s been overlooked for a while, which could affect its value. 

 

You may have heard spring is the best time to sell. This is usually true. But, if you’ve missed the spring boom, summer may seem like a more manageable timeframe to get your home on the market. Although summer is one season, it lasts a few months, so demand will likely rise and fall for various reasons.  

 

However, according to Rightmove’s data, June and July also prove to be strong months for offers, with the average home only taking 5-7 days longer to sell than the March peak. * 

 

Of course, the national picture won’t always match what’s going on locally. Regional levels of supply and demand can also have a big impact on prices.  

 

Luckily, our team make it their mission to keep our finger on the pulse. We can advise you about the local market and how your unique home fits within it. We also understand what buyers are currently looking for, which could help you sell quickly over the coming months. 

 

Contact us to arrange a valuation and discuss your summer sale plan.  

 

 

*Rightmove data reverse-engineered by TheAdvisory.co.uk   



Renters are locking in longer tenancies

 
It has been estimated that there are currently three times more tenants looking for homes than there are rental properties available, making it the most competitive rental market ever recorded. Quarterly tracking by a popular property portal shows that average asking rents outside London have increased by 11% to £1,088 per calendar month. In London, asking rents have increased by 14%, to an average of £2,195 per calendar month.
 
Market analysis from a popular property portal has described how a shortage of rental homes, combined with a strong demand for the properties available, has led to a greater number of tenants choosing to renew their agreement rather than re-enter a competitive rental market. A study among almost 1,300 landlords found that the most common length of a tenancy is over two years.
 
With the rising cost of living, renters are keen to find tenancies with bills included - demand has increased by 36% this year, versus last year. The study also found that homes with balconies, communal gardens, properties allowing pets, and those offering zero deposits all came equal second, with enquiries jumping by 22%.
 
If you are thinking of letting or re-letting your property, get in touch to find out more about our services.
 
 
*Rightmove