LOCKDOWN AND THE PROPERTY MARKET

With the lockdown in full swing, where does this leave the property market?

Many sellers and buyers will be will be wondering whether they are still able to continue with their house sale and for those looking to bring their property to the market, can we still find you a prospective buyer?  The answer is YES!

On Sunday 1st November the housing minister confirmed the property market will still go ahead in full swing.

However it is important that you choose an agent like Hair & Son who has adapted their way of working, since the pandemic began, to ensure they are complying with the new COVID 19 regulations and ensuring their customers and colleagues are safe.

The housing market is experiencing a ‘mini boom’ and this looks set to continue, despite the current lockdown. In fact it has been predicted the UK housing market will remain buoyant with average house prices expected to increase 4% this year before stabilising in 2021.

So now, if any is the time to sell! By doing this you can also take advantage of the stamp duty holiday, which is set to end March 2021, which could save you up to £15,000.00!

If you are considering selling or are searching for a property, there is still time! Contact us for a free market appraisal or to register your details to be added to our mailing list.

Hayley Coombes

Property Consultant


Increase Your Online Viewings For Your Property

The Three Simple Things You Can Do Right Now To Increase Your Online Viewings For Your Property…

…And It Won’t Cost You A Penny!

Do you know how your property is performing on line? Has your estate agent spoken to you about this? If your home isn’t getting the level of viewings you expected then this, undoubtedly is the first thing to give some attention to.

Remember – Higher online viewings means higher physical viewings, so if your advert doesn’t look and read as good, if not better than the competition then you are missing a trick.

YOUR MAIN PHOTOGRAPHS

Take a look at your main two photographs. These are what the buying public first see and will either grab their attention and make them want to see more, or they won’t.  Your outside photograph should be free of cars and dustbins.  There should ideally be a blue sky.  The second photograph should be equally enticing and make these buyers want to see more.  If it doesn’t, change it.

THE ZERO PRICING STRATEGY

Years ago estate agents would advise their sellers to advertise their home at say £249,995 instead of £250,000 as it sounds more appealing.  Up until the rise of the internet, it worked.  Nowadays buyers would have to scroll through pages of properties until they come to yours if priced this way.  The trick is to be one of the first a viewer see’s and your agent should advise your asking price to ensure that this is the case.

THE WORDING

This is absolutely vital.  We spend considerable time writing the prefect advert.  It should paint a picture to the reader of being everything they are looking for in a home and make it stand out from its competition.  It is certainly not the case that an introduction should read “ We are delighted to offer for sale this….”

ARE YOU HAPPY WITH YOUR ADVERT?

If you would like us to review it for you why give your local Hair & Son office a call for some no obligation advice.


A LIGHTER & BRIGHTER HOME THIS WINTER

With the clocks going back and daylight hours diminishing until spring time, many homes start to look a bit dark, drab and gloomy this time of year. When selling this can be a real turn off for potential buyers.  With this in mind we thought we would share with you our FIVE TOP TIPS TO BRIGHTEN UP YOUR HOME (AND ACHIEVE AN EARLY SALE)

  1. A growing trend this year is Autumnal colours; Oranges, reds and browns for scatter cushions, rugs and blankets. These will transform a room and make it feel far more inviting and create a feeling of warmth and cosiness that buyers are sure to love!
  2. Candles add a warm feeling to a room too. Look out for scented candles as they can really give a room an amazing atmosphere.  Being easy to move around they are perfect for lighting up any dark corners prior to a viewing!
  3. Add table and floor lamps throughout your home and swap low wattage bulbs for brighter ones – This can make a dull room far brighter with minimal outlay
  4. Even though the daylight hours are reduced this time of year, still make sure you ensure your home benefits from getting as much natural light as possible. Make sure curtains & blinds  are open for all day time viewings and consider hanging mirrors opposite windows to spread natural light
  5. Log burners and fires are a massive want with buyers at the moment – If your home has one make sure you light it. Nothing says “winter comfort” more than a nice fire!

 

We love giving advice to anybody considering selling their home.  If you are considering a move, why not get in touch with us for FREE, no obligation advice?


H&S Searching for 'Block Property Manager'

We are looking for a Block Property Manager to join our busy and growing block management department.

The Role will be based at our Southend-on-Sea office, duties will include but not limited to:

• Have the ability to deal/manage entire property management process for a portfolio of 500-600 units
• Visiting blocks of apartments
• Managing leaseholder relationships
• Preparing Service Charge Budgets
• Monitoring contractors
• Liaising with accountants departments
• Dealing effectively with all maintenance issues, contractors & all processes
• Section 20

The right candidate ideally will possess the following:
• Good understanding of Residential Property Management and current legislation
• Must be a highly organised individual
• Section 20 experience preferred
• Previous property experience is an advantage
• Excellent administration skills with attention to detail
• Good customer relationship skills is a must
• AIRPM qualification is an advantage but is not essential

Please email laurencecox@hairandson.co.uk if you are interested.


SELLING YOUR HOME THIS AUTUMN

We love the Autumn.  The nights draw in, trees shed their leaves and the world takes on a far more wintery feel.  We also love it because, if you get it right, it can be the best time of year to sell your property.

During the summer months buyers are all about utilising your outside space and can be swayed from one property to another by a bigger, sunnier garden or a fabulous Bar-B-Q area.  As Autumn comes this all changes.  The weather becomes colder, wetter and buyers’ criteria changes.  Think more of log burners and amazing kitchens you can spend time cooking those warming meals in.

With this in mind, we thought it might be helpful to give you our top tips for selling your home this Autumn:

  • CLEAR AWAY THOSE FALLEN LEAVES – Sweep them away, even if they are on the street outside. A viewer who slips on wet leaves before they even reach your front door will be sure to be thinking negatively about your home before they even start the viewing!
  • TURN ON THE HEATING – Make sure your home feels warm and inviting. If you are at home for the viewings, light any fires and log burners to give viewers that cosy feeling
  • TURN ON THE LIGHTS – A property that is too dark is a major turn off for viewers. Make sure your home is well lit on those dark afternoons and evenings, use lamps to give that cosy relaxed feeling
  • GET THE GARDEN LOOKING TIDY – Although selling a home this time of year is more about the interior, buyers still want to see a tidy and useable garden area for warmer months; Make sure the garden is neat and tidy with some autumnal flowers and shrubs to give appeal
  • LIGHT A CANDLE – Candles not only look good but give off amazing seasonal aroma’s and create a cosy feel

We love giving advice to people who are contemplating a house move! If you are considering selling why not get in touch with your local Hair & Son office.


Leigh-on-Sea – A September Market Update

September was another busy month for Hair & Son Leigh-on-Sea with demand continuing to outstrip supply resulting in high volumes of enquiries, activity and sales.

We have seen prices remain firm throughout the summer and with the recent report from Nationwide confirming that house price growth for the year is at a surprising 5%, with a monthly increase of 0.9% this trend looks set to continue throughout the Autumn.

Strongest demand locally is for three bedroom homes in Leigh-on-Sea priced between £450,000-£600,000. We have had 32% more buyers register in search of these types of properties than any other and homes that fall within this category are selling extremely rapidly and for, on average 98.7% of their asking prices.

Unsurprisingly, the most requested areas within Leigh-on-Sea have been for south of the London Road, close to the Station & Broadway interestingly though, there is a rapidly growing demand for homes with larger plots on the outskirts of the town.  Looking deeper into this trend, we can see that this demand is mainly coming from buyers looking to move out of London, something that has been happening for many years but fuelled further by lockdown and the realisation that London is no longer a place many homeowners want to be.

For sellers in Leigh-on-Sea this is all excellent news.  Huge demand from London buyers has always meant rapid and consistent house price growth here and with a huge increase in demand from this demographic, this can only mean that further growth is likely.  Furthermore the Government stamp duty holiday and the lowest interest rates in living memory are all major factors in pushing the local housing market towards a very strong final quarter of 2020.

If you are considering selling a property in the Leigh-on-Sea, Hadleigh, Benfleet or surrounding areas we would love to hear from you.  Why not contact us to arrange a Free, no obligation valuation of your home on 01702 470066.


SELLING AN INHERITED PROPERTY

Selling your home under normal circumstances can be a stressful situation but even more so when you’re dealing with a bereavement. If you find yourself needing to sell an inherited home, you’ll find that the process is very different. Here’s our guide to selling a house under probate and how to make selling a probate property as problem-free as possible.

5 tips for selling an inherited property

  1. Check the Will

Firstly, let’s look at the legal side of things when inheriting a house in the UK. You will need to check the will to ensure that it states the name of the executor – the person in charge of the deceased’s estate. And the beneficiaries – those who are to inherit the estate.

  1. Apply for probate

If you are named as the ‘executor’ then you can apply for a grant of probate from the Probate Registry. Probate gives the executor the legal authority to act on behalf of the deceased, this includes access to bank accounts, investments and anything else that is relevant to the property.

It usually takes a grant of probate around six to eight weeks to arrive. And then finalised issues of inheritance and the estate can take from about three to six months, or even longer, depending on things, such as, if it’s a large estate with various bank accounts, properties, etc.

  1. Speak to the experts

Alternatively, you can appoint a solicitor or somebody else licensed to provide a probate service to do this on your behalf. This can help if you want to avoid the extra paperwork and may help you save time and effort.

You will also need to instruct a chartered surveyor. We would recommend doing this as early as possible as the HMRC will require an accurate figure for probate purposes. One of our surveyors will be able to offer assistance.

  1. What about inheritance tax?

When you sell your own home, you do not need to pay Capital Gains Tax. However, in most cases when selling a property that you have inherited, if you sell for a profit, you will be liable to pay this. There are exceptions to this, for example, you won’t have to pay any inheritance tax if it is passed to the deceased’s spouse or civil partner, a charity or a community amateur sports club or if the property has a value below the Inheritance Tax threshold of £325,000.

If the deceased left the estate to their children or grandchildren, the threshold goes up to £475,000. This applies to adopted, foster or stepchildren, too. This threshold only applies if the person’s estate is less than £2 million

If inheriting a house means you own two homes, you will have to nominate one of them as your main home. You will then need to inform HMRC which is your main home within two years of inheriting it.

  1. Making a sale

The final consideration is to establish if the property could be readily sold in its current condition. This means, it could be sold in a matter of weeks for a good price. If the answer is no, then it’s a good idea to think about making some light changes. Having a good clear out, a fresh coat of paint in neutral colours and even changing the floor coverings can make a big difference.  Doing so will make sure you are creating a calming, bright and airy space.

To find out how we can help, contact your local Hair & Son office.

Contact

 


PROPERTY SALES HIT A 10 YEAR HIGH!

Latest news from the web-portal  Rightmove confirm that sellers are now securing a buyer and having an offer accepted within a week than at any point over the past decade, and this is largely thanks to the temporary stamp duty holiday and pent-up demand being released after lockdown.

The government’s new tax break has meant that hundreds of thousands of you are looking to move home before the 31st March deadline next year. Data analysts at Rightmove have found that between 8th July and 31st August, one in seven properties marked as sale agreed by agents did so within a week of being listed on Rightmove, up from one in ten in 2019.  Also, Just under one third (30%) of homes were marked sold subject to contract within the first two weeks of being put up for sale, compared with one in five (21%) in 2019.

If you’ve decided that now is the right time to sell, there’s arguably never been a better time to put your home on the market. Contact your local Hair & Son office and speak to one of our property experts.


ALL CHANGE ON THE HIGH STREET

The last month has seen HM Government’s relaxation of commercial user clauses in an effort to re-vitalise many of our ailing High Streets, and to attempt to re-dress the balance that the internet has had on people’s shopping habits.  The current pandemic has further emphasised the need for that. The current change has put in place by way of a statutory instrument and without the need for legislation to be taken through Parliament.  It is temporary for a year from 1st September but with the promise of a permanent re-structuring to be announced in July 2021.

There is now a new use, known as Class E (Commercial, business and service), which will mean that a premises that are currently used as a retail shop can be changed without the need for a change of use to many other commercial uses.  We can now expect to see uses such as gyms, leisure uses, medical clinics etc. appearing in our High Streets, mixed use of buildings is also being encouraged. It is also no longer necessary to apply for a change of use from a shop to a restaurant.  However take away and wine bars are excluded to control a possible proliferation of such uses in the High Street which is seen as counterproductive.

This a very positive step in modernising the planning system which was first created in 1987 and has been modified a number of times since then, however nothing quite as radical as the current shake up.  Notwithstanding this you should always check that your use is permitted within Class E, before making a legal commitment in respect of a property.   Many uses are incorporated within Class E and it will open up many opportunities, but there are exceptions – so take care.

 

Diane Tait

Commercial Manager


Government Changes to Tenancy Law

COVID-19 has brought with it a lot of changes to the Lettings sector to protect tenants during these unprecedented times. The stay on possession proceedings has been extended until the 20th September and legislation has now been introduced so landlords must give tenants 6 months’ notice before they can evict, until March 2021. This is except in the most serious of cases, such as incidents of anti-social behaviour and domestic abuse perpetrators.

To find out more, CLICK HERE.

If you require any further information or have any questions please do not hesitate to contact our Lettings Department on 01702 341177.