Petersfield and Surrounds Property News: January 2018

The very latest property news relating to Petersfield and surrounding areas, for January 2018.

At the beginning of a new year, it is helpful to understand where you are and what the state of the market is. At Williams of Petersfield, we are very keen to ensure you are fully informed about the local property market. We know that you want the latest information and the most relevant guidance about the Petersfield property market and on the latest for surrounding areas.

In the final few months of 2017, we offered you a monthly review and this is something we aim to continue in 2018. This review provides you with the most pertinent and relevant news about the local property market. As local property specialists, we are always happy to discuss the market and if you would like to talk about any of these issues in more detail, please get in touch. Our team is highly passionate about the local property market and we look forward to helping you.

There are clearly many aspects that matter in the property market when buying or selling a house and space is a major issue. It is only natural that prospective buyers will be interested in the space available inside a home but you’ll find that outside space also has an impact on buyers, and even on the price of your home. When you’re looking to get ahead or you want to know what price a home carries, aspects like outside space matter, and this is why Williams of Petersfield is on hand to ensure you are fully informed at all times.

Please click on the link to receive the:

Williams of Petersfield Report January 2018

If you are keen to stay in touch with the local property market, rely on us to ensure you have all the information you need. Whether you are looking to make a move soon or you have a general interest, we believe our local property market reports are of benefit and interest.

When you need expert support and guidance in the local property market, Williams of Petersfield is a company you can trust. We have a strong reputation in supporting the local community, so get in touch and we will be more than happy to help you take your next step in the market.

The Boxing Day Bounce: Prepare Your Home For Interest

As we move closer to Christmas, there is a lot to be excited about. If you are a big fan of the festive period, you may be looking forward to having fun with friends and family members. If you are not too fussed about Christmas or even Boxing Day, you may still enjoy the chance to relax and unwind for a few days. However, not everyone is relaxing because it seems as though the period after Christmas into the New Year is one of the busiest time in the property market.

This phenomenon has been referred to as the Boxing Day Bounce. This first came to light back in 2015 when Rightmove announced that they had one million visitors on their site on Christmas Day. There was an increase in visitors on Boxing Day and by the first full working day of 2016, there were nearly three million people visiting the Rightmove site and looking for property. This suggests that this is a very busy time and if you want to sell your home at the start of the New Year, you want to make sure that your home is listed on these online property portals.

When there are buyers, it is a good time to sell

The fact that a lot of people are looking for homes at this time of year is a big incentive to be ready to sell, but there is also another reason you should have your home listed. This is down to the fact that there will be some property owners who aren’t interested in selling their home during the festive period. Some people are busy at this time of year and other folk will want to focus on spending quality time with their loved ones.

Boxing Day Bounce
House XXL

This is their loss though and it adds up to a better set of circumstances for people looking to sell their property. After all, when you have an increased volume of potential buyers in the market and a smaller volume of people looking to sell their home, you will stand a greater chance of being found by people who are looking for what you have to offer.

Boxing Day Bounce can make 2018 a very happy year

This is a very strong reason why property owners looking to sell their home at the start of the year should be proactive before the year ends. If you have plans to move home in 2018 you can give yourself a flying start by being listed on the major online property portals and by working closely with a skilled and experienced estate agent.

At Williams of Petersfield, we know how important it is to sell your home in an efficient and effective manner. This is why we are committed to providing you with the guidance and assistance you need. If you are keen to learn more about The Boxing Day Bounce or you just want to be in a good position to sell your home, come and speak to us. We are always on hand to help you make an informed decision when it comes to selling your home.

Landlords: Ready For 2018 EPC Regulation Changes?

It is important that landlords keep up to date with all of the changes with respect to rules and regulations of their industry. There have been many changes in recent times but any landlord who felt that 2018 was going to be slightly easier will probably want to think again. As of the 1st of April 2018, there will be big changes relating to the Energy Performance Certificate (EPC) rating for new lets.

The change is related to the Energy Efficiency (Private Rented Property) (England and Wales) Regulations of 2015 and the Minimum Energy Efficiency Standards or MEES, which are being introduced. The change comes into effect for new lets and renewals of tenancies from the 1st of April of 2018 and by the 1st of April 2020, this regulation will be applicable to all existing tenancies. The minimum rating for these tenancies will be an E rating and if a landlord doesn’t comply with the regulations, they may face a civil penalty of up to £4,000.

Know the full regulations regarding the MEES

There are some exemptions where a landlord will be able to let property that holds a lower EPC rating than this, and these exemptions include:

  • Where a third party has to provide agreement for improvements to be undertaken and they don’t
  • Where work carried out on the property would lower the value of the property by at least 5% (this will be evaluated by an independent professional)
  • Where all possible improvements have been carried out and the property still falls below the EPC rating
  • Where the landlord would be left out of pocket

EPC regulations

It is essential that landlords are aware that there are grants and funding on offer to ensure they comply with the regulations. The exemptions can only exist for a maximum of five years and they are not able to be transferred over to another landlord.

It makes sense to improve the EPC rating of your property

There is a lot to be said for improving the energy efficiency rating of a property and this is true for landlords and tenants. A real benefit to the tenant comes with the fact that moving from a G rating to an E rating can lower the average annual heating bills by more than £1,000. This is something that will please a tenant and may help them stay in the property for a longer period. This will be of benefit to the landlord, minimising void periods and ensuring that they have less work to do.

A landlord can also take comfort in knowing that their property is in better condition, it’s value should have improved and they will likely be able to raise rental fees with some justification.

We know that things are difficult for landlords at the moment and if you need any assistance or guidance, please get in touch with Williams of Petersfield and we will do our best to help you out. This is just one of the many changes that landlords have had to deal with but we are on hand to ensure you know what you need to know.

Petersfield: An Area Guide

With the train journey to London Waterloo taking around an hour, it is easy to see why so many people have developed an interest in what Petersfield has to offer. This is a commuter town that is able to provide a very different pace of life from what you would expect in the heart of London. Knowing that you can return home to an area of great beauty and a more sedate pace of life is a great comfort for many people, and there are many people who have arrived in Petersfield as commuters but stayed as contended residents.

You should find that there is a strong mix of properties in Petersfield. Whether you are interested in period cottages or spacious mansions, there is something for everyone. The more affordable options in the area come with the modern flats and houses that have been developed on estates like Herne Farm.

Many people have settled in Petersfield

When it comes to recommending Petersfield, there is a great deal to be said for looking at the number of people who have to the area and stayed. This is a town that is handy for commuters but once families settle, they find that the local area has a lot to offer and that the pace of life here is very appealing, especially compared to the more hectic energy of England’s capital.

The standard of education in an area is an important factor and you’ll be glad to know that there is a lot to like about the local education options in Petersfield. The local infant school, located on St Peter’s Road, has been classed as “Outstanding” by Ofsted and there is also Petersfield School, sometimes known as TPS, which has also been referred to as “Outstanding”, with this school being available for children aged between 11 years old and 16. There are also sixth form college options to choose from in the nearby area so families looking to ensure their children enjoy a high standard of education have options to consider in Petersfield.

There are plenty of shopping options in Petersfield

Like many modern towns these days, Petersfield is able to provide a blend of High Street stores and boutique and independent stores. The town is also well known for its market with Wednesday and Saturday being great days to venture into the town square and see what is on offer. There is also a popular farmers’ market in the town, so you can enjoy fresh produce from local suppliers.

When it comes to getting some fresh air and adventure, Petersfield Heath is an excellent choice, lying to the south of the town. With a cricket pitch and golf course on offer there are plenty of exercise options and you can even hire a boat to venture out on to the lake.

You’ll find that there are plenty of local attractions on offer in Petersfield to ensure that  you enjoy your time in the area. There is a council owned swimming pool and in the summer months, there is also an outdoor pool to enjoy. The museum offers great insight into local life as well as providing a number of seasonal exhibitions. If you enjoy live events, Festival Hall is a great destination and Petersfield has a strong reputation for music festivals, so you should be able to enjoy live shows and the wonder of live music in the local community.

With respect to property prices, Zoopla states that as of December 2017, property prices in Petersfield over the past 12 months have an average of £469,729. In the same time frame, the average price paid for property in Hampshire stands at £336,273.

If you hold an interest in Petersfield of you would like to learn more about the area, contact Williams of Petersfield and we will help you learn more about this fantastic area.

South Downs Festive Activities 2017

When it comes to enjoying Christmas, there is a great deal to be said for being out and about in your local community. This is why many people are keen to learn about the full range of South Downs Festive activities for 2017 and at Williams of Petersfield, we are here to tell you some of the most eagerly anticipated events this Christmas period.

Liss Station Christmas Walk

The Liss Village Christmas event is taking place on Wednesday the 6th of December, and this is shaping up to be an excellent evening. The East Hampshire Community Rail Partnership are out in force and they will be providing mulled wine and mince pies to guests inside the booking hall at Liss Station on this date. The action takes place between 6pm and 8pm, so make sure you’re in attendance at that time. You’ll also find that the Model Railway Society in Liss will be present, allowing you the chance to see some stylish model railway displays.

Get creative at the Sustainability Centre

On Friday the 8th of December, make your way to the Sustainability Centre for one of the leading craft courses in the Hampshire South Downs. You will have the chance to make your own willow wreath, giving yourself the chance to create an excellent accessory for your home this winter. It may be that you intend to give this wreath as a gift to someone over the festive period, but you’ll find that no matter what you do with the wreath, this will be a friendly and social event that allows you to have some fun in the build-up to the festive period.

South Downs
South Downs

Take a walk in the Seven Sisters Country Park on Saturday the 9th of December and spend some time with the wildlife rangers. This is an event that is primarily aimed at 12 to 16 year olds and anyone who is keen to see more of the great outdoors while developing skills and knowledge of the local wildlife will find that this is a fantastic event.

Enjoy winter tales at Butser Ancient Farm

Anyone looking for an evening of fantastic winter tales will find that Buster Ancient Farm is the place to be on the 15th of December. You will have the chance to enjoy a hot chocolate while sat round an fire in one of the most atmospheric old buildings in the local area.

South Downs festive fun

You will also find that as we move closer to Christmas there will be more localised events announced, so make sure you keep an eye out for anything which helps you enter into the Christmas spirit. There is a great deal to be said for spending time with family members and loved ones at this time of year, but it can be nice to spend time in the local community too.

At Williams of Petersfield, we think that there is an excellent range of events and activities to look forward to at this time of year and hopefully you will find plenty of interesting activities in the South Downs this festive period.

Accompanied Viewings Are A Step To Selling Successfully

When it comes to selling your home, it makes sense to work as hard and as smart as you can to ensure that people see your house, appreciate what it has to give and then make an offer. There are many different parts of the property selling process and all of them are important because if there is a weak link in your chain, this is likely to be where a potential sale collapses. This is why you need to consider aspects like accompanied viewings as seriously as staging your home.

While all of the parts are important, it is fair to say that the viewing process is crucial. This is when the interested buyer comes to your home and you need to make sure that you create a positive first impression. There is also a need to provide as much information and to be as welcoming as possible. You can see why many property owners want to play a part in the process but you will find that accompanied viewings are a step to selling successfully. This is the case for a number of reasons and when you call on Williams of Petersfield, you can be confident that we will provide you with the assistance you need to enhance your chances of selling your home.

Viewers are more honest when appraising the home with an estate agent

We are not saying that potential buyers will tell lies to the homeowner but there are clearly different levels of the truth that can come out. The vast majority of people are not going to be brutally harsh to a homeowners face, and this means you may miss out on informative feedback. Even if the first viewer doesn’t want to buy the home, they may have insight into issues that they don’t like or which they do appreciate, which can help you to meet the needs of the next buyer.

A potential buyer is more likely to be honest about these aspects to the estate agent than the owner, so if you want great insight, make sure an estate agent is present for the viewing process.

A fresh pair of eyes is always helpful

When it comes to honesty or seeing the property with fresh eyes, the estate agent may be able to provide a viewpoint that the property owner is unable to offer. When you have lived in a home for a number of years or it is created to your style, you may not see potential issues or problems.

This is where having an external person makes a difference because they will be able to make decisions or share opinions that ensure the property is set up in a different, and hopefully, more enticing manner.

You are likely to be busy

Selling a home can be a stressful time and it can be difficult to juggle the needs of your normal life with the demands of selling a home. If you are also looking to buy a home at the same time, you may not have enough time to do everything and this is where getting a helping hand can make a big difference.

When you call on Williams of Petersfield, we offer a helping hand that ensures the important steps are all taken care of, regardless of how busy you are.

accompanied viewings

Accompanied viewings help set the property up

As a local, skilled and experienced estate agent, we know what people are looking for. This means we will help you to present and stage your property with the right buyer in mind. Staging a home goes beyond cleaning, decluttering and decorating; it actually means presenting the home with the most likely buyer in mind, which will make your home more attractive to the property.

We are sales people

Given that we sell homes for a living, we are more than happy to talk to potential buyers, to show them the benefits of the home and to connect with them. We know that homeowners have a great level of insight to offer about their property but it can be difficult for some people to talk about their home. Selling your home can be an emotional time, it can be a nervous time considering the amount of money involved and it can also be a challenging time as not everyone is comfortable when it comes to public speaking or talking with others. This is why we are more than happy to take responsibility for the viewing process.

We believe all of these reasons are big factors in why accompanied viewings are important and if you want the best standard of support and assistance, call on Williams of Petersfield.

Changes To Landlord Regulations: Why You Need Assistance

Being a landlord can be very rewarding and given the level of demand for property in the United Kingdom, you can see why so many people are looking to get involved with the buy to let market. However, people should be aware that the buy to let market is challenging and being a landlord can be very difficult. It makes sense to call on experts for assistance and one area where you will benefit from help comes with staying up to date with landlord regulations.

There have been many changes to landlord regulations in recent times and you need to make sure that you continue to comply with these regulations. If you need assistance call on experienced estate agents and at Williams of Petersfield, we are more than happy to help you out. Here are some of the recent changes to landlord regulations that you need to consider.

Mortgage interest tax relief changes

As of April 2017, there has been a change to the way that landlords deal with their mortgage interest costs from their income when it comes to determining their final tax bill for the year. The first year in this process, which will take place over four years, sees landlords only being able to offset 75% of their mortgage interest until 2020, when landlords will not be able to offset any of their mortgage interest.

This will be replaced by landlords being able to claim the equivalent of a tax credit of 20%, the basic rate of tax, and this means that landlords who are on the higher rates of tax will be hit with this change. This is why it is essential that landlords plan ahead and make sure that these changes do not impact on their income too much.

The removal of wear and tear allowance

Up until 2016, landlords who let furnished property were allowed to deduct 10% of their annual rent before they paid tax and this figure was for “wear and tear” of the furnishing. It didn’t matter if the landlord spent this money or not, they could claim. This has changed and landlords are now only able to claim on items that they have spent money on, replacing or repairing.

Right to rent requirements

As of February 2016, landlords need to ensure that tenants have a legal right to be present in the United Kingdom. A landlord has to review documentation and ensure that a tenant holds a legal right to be present in the UK. If a landlord fails to do this, they can face a fine of up to £3,000 for every person found in their home who doesn’t have the legal right to live in the UK.

Local landlord licencing

Changes have been brought in across the United Kingdom providing local councils with the right to operate a selective licensing for landlords in their area. A local council now has greater ability to impose significant fines on landlords who don’t meet their standards.

landlord regulations

A ban on letting fees

As of the autumn statement of 2017, the Government stated that they are looking to ban letting agent fees that can be imposed on tenants in England. At this point in time, the tenant will usually cover the costs of various bills, including references, credit checks and tenancy agreements but these must now be met by the landlord. There is an argument that savvy landlords will pass these costs on to the tenant in some way but it is an issue to be aware of.

EPC ratings as part of landlord regulations

As of April 2018, a landlord looking to arrange a new tenancy will have to ensure that their property carries a minimum energy efficiency rating of an E. This will apply to all tenancies as of April 2020. There are some exceptions to this rule, for a variety of reasons so you may be able to delay the issue but this is an issue that all landlords should be aware of.

Other changes to be aware of include:

  • The Housing White Paper, introduced in February 2017
  • Section 21 eviction process, introduced in 2015
  • The need to hold a tenant’s deposit in the correct manner
  • Changes to buy to let regulations
  • The additional 3% stamp duty for additional home purchases, as of April 2016

It is not as if these changes will be the final changes that landlords have to contend with, there are many more changes scheduled to appear and there will also be changes that haven’t yet been cited. This is why all landlords should call on experts for assistance and if you need any help, please get in touch with Williams of Petersfield.

Petersfield Property Prices – A Review

Found in East Hampshire, Petersfield is less than 20 miles from Portsmouth but it is also a market town of great repute. It would be fair to say that there is a lot to like about local life in Petersfield but the fact that there is a railway station in town, which connects to Portsmouth and London means that people can commute or travel easily from this base. The history of Petersfield has long seen it used as a stopping point for travellers, it was known as a coach stop between London and Portsmouth, and this is still a valid reason for considering the area and Petersfield property today.

While there is a lot to be said for the convenience and style of the area, if you are looking to make an investment, it is important that you consider the facts and figures. If you have lived in or around Petersfield for many years, you will know what the town has to offer but equally, given the importance of property investment, you need to make sure that you make an informed decision when it comes to property investment. This is why you should take the time to review Petersfield property prices.

Petersfield property offers some interesting options

As of October 2017, the average value of property in Petersfield stands at £512,035 and the average price paid for property in Petersfield in the past 12 months was £462,937. With respect to the past six and three months, the average price paid for property stands at £435,742 and £455,972. However, it is important to know that if you look at small sample sizes, there is a greater chance of outliers impacting on the true average price. It is important to measure how prices fluctuate but there will be times when looking at a small period of time aren’t of benefit because it doesn’t provide an accurate response.

If you are looking to buy to let in the GU31 postcode area, you should consider a one bedroom property which provides an expected rental yield of 4.76%. With a two bedroom property, you can expect a rental yield of 4.43% and there is a return of 3.72% for a three bedroom property. With a four bedroom property in GU31, there is a 3.13% expected yield on offer and if you invest in a five bedroom property, there is a 4.43% rental yield on offer.

In the GU32 postcode area, you will find that the best expected rental yield comes with a one bedroom property and this stands at 5.3%. If you have a two bedroom property, you can expect a 4.27% expected rental yield but the expected return from a three bedroom property falls to 2.94%. There is a lift with four bedroom properties in GU32 with the expected rental yield standing at 4.02% and while there may not be too many five bedroom properties in the GU32 postcode area, you should expect a return of 2.9%.

If you are interested in the Petersfield property market, be sure to contact Williams of Petersfield for support and guidance.

East and West Meon Rental Yields: Opportunity For Profit?

When it comes to investing in an area, there are a number of things that you need to consider. You want to make sure that you know the area well enough to make recommendations and understand what sort of tenants you are likely to deal with. If you want to be a hands on landlord, you will want to make sure that you live local enough where you can be present to provide support and make changes if you have to. If you have an interest in property in East or West Meon, we can help you carry out research on the area.

When it comes to making the best decision about property investment for buy to let though, you need to know the figures. You may feel as though you know East and West Meon in Hampshire quite well, but you need to make sure that you understand the sums and you are comfortable with property prices and yields from buying in this area.

As of October 2017, the average value of property in the GU32 postcode stands at £480,815 while the average price paid for property in this part of the country in the past 12 months stands at £429,745. In the past six months, the average price paid for GU32 property stands at £413,798 and in the past three months, the average price paid for property here stands at £412,500.

Focus on the big picture with property

Some people may have concerns about the fall in prices over this period but this isn’t too much to get worked up about. When looking at property prices over a short period of time, one or two sales can have a big impact on the average, so you may not get an accurate measure of what is happening in the market by focusing on a short time period. It would be fair to say that while some people will raise concerns about these most recent figures, it isn’t something to get overly worked up about.

One handy barometer that many people consider in a property market is the expected rental yield. If you are looking to buy to let in East and West Meon, the expected rental yield for the GU32 postcode area is important. You will find that a one bedroom property provides a return of 5.3% while there is an expected rental yield of 4.27% for a two bedroom property. There is a 2.94% return from a three bedroom property, a 4.02% return from a four bedroom property and there is a 2.9% return from a five bedroom property.

There are attractive returns to find in East and West Meon

Given that many investment specialists suggest that a return of more than 4% is worth considering, this would suggest that a one, two or even a four bedroom property in the GU32 postcode area would be worth considering as an investment. There are clearly many strong reasons to buy property in this part of Hampshire but if you are looking for financial confirmation, and you should be, these figures will put your mind at ease about the East and West Meon buy to let market.

If you would like to learn more about the East and West Meon markets, get in touch with Williams of Petersfield and we will be more than happy to help.