More Buyers Are Looking For Chain-Free Properties

If you are looking to sell your home, it makes perfect sense to know what buyers are looking for. When you are aware of what matters to buyers, and you can tailor your service to better meet these needs, you will find it becomes easier to connect with these buyers, and to ultimately sell your home.

This is something that matters to us at Williams of Petersfield. A lot of our work is based on bringing buyers and vendors together, and our knowledge of the local market in and around Petersfield is crucial to this.

There is a lot of activity in the housing market today

We also stay in touch with the latest findings from studies across the country. There is considerable interest in the property market right now, and we know people are looking for information, guidance and support.

One of the things that buyers are looking for is a chain-free property deal. If you are involved with a property chain, there is a chance of the deal collapsing even when you do nothing wrong. With this in mind, you can see why buyers are looking for this sort of deal.

We’ve also seen examples of homeowners renting property during the sales process. This creates a break in the process, which helps them to minimise their exposure to a collapsed property deal.

What do you want to do in the market?

This isn’t recommended for everyone, but it is something that some homeowners feel is right for them. We are more than happy to help you connect with buyers in the market.

Some highlights of the findings from YesHomebuyers include:

  • 56% of all chain-free properties have been bought by buyers
  • This represents a considerable increase in the couple of months
  • When comparing demand for chain-free transactions between March and June, demand has risen by 6%
  • In some parts of the country, such as Cambridge, demand for chain-free property has risen by 10% since March
  • Understandably, stock of chain-free property has fallen in 17 of 26 major cities

Matthew Cooper, Founder & Managing Director of Yes Homebuyers, commented: “Many homebuyers have now accepted the fact that a stamp duty holiday saving is no longer on the cards, but that they will have to contend with the long market delays that have materialised as a result of the initiative. In this respect, a chain-free purchase will, at least, provide some hope of reducing the transaction timeline, and so it comes as no surprise that their popularity has increased substantially in many major UK cities.”

Matthew concluded by saying; “Of course, the downside to this high demand is that chain-free stock levels have dropped across the majority of cities in recent months, although some do present a far better chance of finding one than others.”

At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.

Do You Dream Of Owning Your Home?

We know the past year has been a challenging one, and it has left many people wondering if they will ever own property. However, the lockdown period has reinforced the need for space, and recent studies indicate many people have serious dreams about owning property one day.

If you would like to discuss your property plans or ambitions, contact Williams of Petersfield. We are here to assist you as best we can, and we look froward to helping you achieve your property dreams.

What is your property dream?

Research from Aldermore has revealed that almost half of the UK’s renters have not given up on their dream of being a homeowner.

Aldermore spoke with 2,000 private tenants in the UK, and 45% say “owning a home is a life goal”, and 26% are actively saving for a deposit.

The areas which saw the most significant level of intent from renters to buy were:

  • Northern Ireland
  • Greater London
  • South East of England

There are challenges to overcome

Some of the biggest challenges cited by prospective buyers were:

  • 38% of respondents said they were actively looking to upgrade their credit score
  • 30% of respondents were concerned about raising a deposit
  • 28% of private tenants cited their credit history as a concern
  • 17% of respondents cited affordable house prices
  • 13% said high rental costs was a concern
  • 8% of respondents said securing a mortgage was their biggest obstacle

Credit issues cause problems

If you are looking to buy a home, you need to feel confident about your credit score, and what mortgage offer you will likely receive. If you have concerns regarding your credit score, and how it will impact you, you are not alone. We are also happy to advise as best we can.

The main credit issues experienced by respondents include:

  • Their overdraft, said by 26% of respondents
  • Credit card debt, said by 25% of respondents
  • Employment gaps, said by 21% of respondents
  • Being responsible for dependents was cited by 17% of respondents
  • Missed bill payments was listed by 15% of respondents
  • 8% of respondents save said their account has been handled by collection agencies
  • 7% have said they have taken out a payday loan
  • 5% have a CCJ (County court Judgment) in their past

Of course, there have also been challenges presented by the pandemic:

  • 22% of tenants have been placed on furlough or lost employment
  • 12% of tenants have admitted to missing or making a late rental payment
  • 14% of tenants say they have had to use their savings to get by

Jon Cooper is the head of mortgage distribution at Aldermore, and he said: “The experience of lockdown has focused renters’ minds to work towards owning a home more than ever before, but it is clear from the data that renters see credit issues in their past as a problem for them. And with many dealing with furlough and reduced incomes recently, it is understandable they may feel the dream of homeownership is far from reach. However, the challenges they face are not as large a barrier to buying a home as it may have been in the past. Specialist lenders, like Aldermore, consider borrowers with credit issues, including debt and CCJs, alongside those experiencing furlough, so options are open as we begin the new year for renters that previously may have been turned away from high street lenders.”

At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.

Know What House Buyers Need In 2021

If you are looking to sell your home, it is always helpful to know what buyers are looking for. With this knowledge, you can position your home in the most effective manner, boosting the chances of selling your home.

At Williams of Petersfield, we are pleased to say we have helped many local vendors connect with buyers. We know the local market well, and we look to bring people together.

Through our knowledge of the local market, and our studies of what is happening across the market, we are here to help you know what house buyers need in 2021.

White Goods and Existing Heating Systems

The boiler and heating system is one of the most important factors that buyers consider. You can improve your chances of connecting with buyers by:

  • Having your boiler reviewed by an expert to determine its condition before listing your home
  • If it is in your budget, upgrade the boiler or at least carry out improvements
  • Make sure you have sufficient boiler insurance coverage in place

David Holmes is the founder of the Boiler Guide, and he believes people aren’t doing the right sort of searches when looking for a new or better boiler. Digital searches have given people more options, but this might not be the best way to find the ideal solution.

David Holmes said; “Like many other services, it really is worth putting in the time and effort to explore your options for such an important investment and in many cases, you could save hundreds of pounds simply by spending another five minutes on the phone.”

He also said; “We expect the residential heating market to become even more competitive in the next few years as both existing and emerging brands are investing in renewable alternatives such as air source heat pumps and hydrogen-ready gas boilers.”

White goods are also important if you are including them in the sale.

Some steps you can take include:

  • Investing in new kitchen appliances
  • Making sure you know which sort of appliance is best for the most likely buyer in your home
  • Have all existing appliances reviewed and if repairs must be carried out, do so
  • Consider the energy efficiency of your appliances

The Energy Efficiency Rating is crucial when selling a home

You will likely know the importance of energy efficiency, and how vital it is for vendors and buyers.

Money Super Market provides the following tips on improving the energy efficiency rating of your home:

  • Insulate your loft – This could save between £120 and £225 a year according to the Energy Saving Trust
  • Poorly insulated roofs and walls can be a major cause of energy wastage. But with decent loft insulation, you could save between £120 and £225 a year, depending on the type of property you have and where you live, according to the Energy Saving Trust.
  • Hang thick curtains and insulate your doors
  • Install an energy monitor to review your energy consumption
  • Use a water-saving showerhead
  • Install double glazing
  • Consider solar panels
  • Insulate your cavity walls – According to the Energy Savings Trust, this could save between £70 and £255 a year

At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.

How Long Will Housing Market Frenzy Last?

It is fair to say the end of year activity for the housing market was frantic. With the stamp duty holiday deadline looming, many people were keen to buy property before the end of the year, in the hope of enjoying the significant saving on offer.

At Williams of Petersfield, we have seen this heightened demand for ourselves in the local area. We’ve also stayed in touch with what the leading property portals are saying about the market.

Rightmove tips market activity to remain high for now

Rightmove predicts a 4% average house price growth in 2021 across the UK. The leading property portals states that in December 2020, sales were 53% higher than they were in December 2019. This is the case, even though many deals taking place at the time will not conclude before the stamp duty holiday ends.

Tim Bannister is the Rightmove’s Director of Property Data, and he said; “Our 2021 forecast of a 4.0 per cent price rise is more conservative than the unsustainable 6.6 per cent national average seen this year. There’s likely to be a lull in quarter two unless the stamp duty holiday is extended, but for many buyers its removal will not be make or break, though may lead them to reduce their offers to a degree to compensate for the higher tax, and indeed many sellers may be prepared to help to mitigate their buyer’s financial loss.”

Tim Bannister continued by saying; “First-time buyers will remain largely exempt, so in most cases will be no worse off. The maximum savings of £2,450 in Wales or £2,100 in Scotland are considerably less decisive than the £15,000 available in England for a house costing £500,000 or more, which does however only apply to a small part of the market.”

In November 2020, Rightmove said there were 650,000 sales agreed and in the pipeline. In December 2020, Rightmove states that there were still 650,000 sales agreed, and in the pipeline.

While the property portal believes there were around 130,000 completed or abandoned deals in this time, there was an additional 130,000 sales added. Therefore, moving one month closer to the deadline, there was no fall in the number of sales in the pipeline.

There will likely be a slowdown in the market

Rightmove expects the second quarter of 2021 will be slower. However, there is hope that affordable mortgage rates will allow for modest price growth.

Pandemic-related uncertainties have been around for nearly a year, and Brexit uncertainties for far longer, and record activity month after month has proved that movers are willing and able to act on their new or existing housing priorities” says Rightmove.

The property portal says demand has significantly exceeded supply in 2020. The number of properties placed onto the market for the year to early December 2020 was down by 0.6% compared to the 2019 figures.

However, the number of agreed sales rose by 8.3%. This means the number of available properties for sale in the UK is at a low level, a record-breaking low level.

At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.

What Is Driving Property Demand?

If you are looking at the property market and wondering why there is so much activity and demand for homes, we are here to help you. While the UK is in a recession, there is a significant level of demand from buyers, and there is a greater number of vendors entering the marketplace.

At Williams of Petersfield, we are pleased to say we can help you understand the housing market. We have a considerable level of knowledge and expertise in the local area, and we work closely to ensure all our clients understand, and benefit, from what is happening in the national property market.

The housing market is currently buoyant

There has been considerable activity in the housing market since it re-opened. Some experts believe this is a temporary measure, but it has lasted until September, and there is no sign of slowdown.

The stamp duty holiday has changed the market

The stamp duty holiday, in place until 31st March 2021, provides buyers with the chance to save up to £15,000. This is a significant saving for many buyers.

Rightmove’s property expert Miles Shipside said: “This move will help to keep the nation and wider economy moving because keeping the current momentum going will help prevent destabilising falls in property prices as unemployment grows, and enable a quicker economic recovery. Lockdown prevented 175,000 would be sellers from coming to market so we hope this Stamp Duty holiday will provide the spur for those missing movers to come to market.”

We know that many people have questions about the market, and how they should progress next. If you are looking to sell your home, we can arrange a property valuation for you. We believe a property valuation is the ideal starting point for anyone looking to sell their home, and we are here to assist you connect with buyers, and make an informed decision.

Miles Shipside also said; “Home-movers will be grateful that the changes come into effect straight away so they don’t have to delay their plans, and what we could see now is people rushing to get a price agreed before some sellers put their prices up in the hope people will be able to pay more because of the tax savings.”

Some people wish to move before a second wave of the pandemic

There are fears about another wave and associated lockdown. If this was to happen, many people would prefer to be settled in their new home by this point. Therefore, a lot of people are looking to move home soon.

Jacqui Harley is the Head of Conveyancing at JMP Solicitors, and he said; “Whether you’re looking to get on the property ladder, move home, buy another property or add to your portfolio, now is a good time to get moving in the current climate as the housing market is particularly buoyant. We have compiled a list of top reasons to move now, to outline what is available in the current climate for those who act swiftly to make the most of this window of opportunity.”

At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.

Demand Is Sustained In Property Market

The introduction of the stamp duty holiday has been welcomed by many people in the housing sector. There is no denying many people are considering making a move, because of the substantial saving on offer. With vendors encouraged by the number of buyers in the market, there is a great deal of activity in all aspects of the housing market.

This is something we have seen in and around Petersfield, and it is something we have noted nationally. If you are looking to sell your home in Petersfield, please get in touch. At Williams of Petersfield, we are pleased to say we have assisted many local homeowners connect with buyers.

A property valuation helps sell your home

One of the most important tasks in selling your home is arranging for a property valuation. As local agents, we are perfectly placed to ensure you connect with buyers and sell your home. If you need any guidance or assistance in selling your home, please get in touch with us today.

Information provided by the property group Andrews for July 2020 suggests:

  • Viewings rose by 29% compared to the previous months’ viewing figures
  • Physical viewings increased by 45% in comparison with the previous month
  • In July 2020, there was close to 6,000 viewings, which equates to around 200 viewings per day
  • In April 2020, the average was 20 viewings per day
  • There was a rise of 12% with respect to offers made and accepted by vendors in July 2020

David Westgate, is the Group Chief Executive at Andrews Property Group. David said; “What a difference four months makes. In April viewings and instructions across the industry fell off a cliff as the country was gripped by coronavirus and the Government asked us to stay at home. But the rebound has been swift as lockdown eased and the Chancellor’s stamp duty announcement at the start of July gave the market a timely boost.”

We can help local buyers and vendors

We know most of the focus has fallen on buyers, but the stamp duty holiday should be viewed as a positive factor for vendors too. If you need assistance in selling your Petersfield property, we are here to assist you.

David also said; “Buyers and sellers alike have shown renewed vigour in the past six weeks. With a lengthy window of opportunity to purchase before the stamp holiday comes to an end, we expect buyer activity to remain buoyant over the coming months. And we saw an immediate uplift in valuations and instructions since stamp duty was frozen, with sellers keen to take advantage of motivated buyers and more confidence to list thanks to stable house prices.”

While there will be many challenges to come in the housing market, we are here to help.

David Westgate also said; “It won’t be all plain sailing from here, but the Government has shown how important it sees a healthy and stable property market for the general wellbeing of the overall economy. And house prices have proven to be extremely resilient in the past when faced by strong economic headwinds, which suggests the market is well placed to cope with some potentially heavy bumps in the road ahead.”

At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.

Petersfield Delivers What Buyers Are Looking For In A Home

At Williams of Petersfield, we care about the local area, and we believe Petersfield is an excellent destination to set up home. Our experience in the area means we know what is on offer, and we know how welcoming the local community is.

At times like these, community is essential, and we think buyers will love Petersfield life. If you are looking for a home in the area, get in touch and we will be happy to talk you through the benefits of Petersfield life.

If you are looking to sell your Petersfield home, what better agent can you choose than one that is passionate about the local area? We will help you connect with buyers, and this sells your home. If you would like to arrange a valuation, get in touch and we will ensure you enter the marketplace with the greatest confidence.

However, we know some people might think we are biased. This is why we are glad to know what other people think of Petersfield. The OneDome site is a good source to get an overview of a local area, and we are pleased to say they think a lot about Petersfield. With an overall score of 7.6 out of 10, it is fair to say the OneDome site recommends Petersfield, and we agree.

Education scores 10 out of 10

Education is one of the most important features for buyers to consider when looking at property. School places and the standard of schooling impacts demand and local prices. Therefore, a perfect score in this field is impressive, and it is easy to see why there is considerable support for Petersfield’s schools.

Petersfield Infant School, Herne Junior School, Churcher’s College and The Petersfield School are all cited as good schools within walking distance from the heart of Petersfield. If you would like to know more about how the standard of schools impacts demand for homes in Petersfield, please get in touch.

There is a lot to like in Petersfield

Other highlights from the Petersfield report card includes:

  • Grocery shopping receiving a score of nine out of ten
  • Lifestyle receiving a score of seven out of ten
  • People who like a quiet life will appreciate the mark of seven out of ten
  • Petersfield is recognised as a safe area and has received a score of seven out of ten in this area
  • Transport has been classed as a seven out of ten feature in Petersfield
  • Green space has been marked as six out of ten

With so many positive reviews, we think you’ll love what Petersfield has to offer. To find out more, please get in touch.

At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.

First Time Buyers Rebel Against Rising Costs

Buying a home is expensive, and it is easy to see why a first time buyer struggle to step on to the property ladder. However, while buying a home is costly, many first-time buyers believe they spent too much money on purchasing a house.

A study undertaken by Comparethemarket, speaking with more than 2,000 property owners, states that around 50% of first-time buyers made expensive mistakes when buying their house. Respondents believed that they spent too much money on conveyancing, removal firms and mortgage brokers.

Broker services come under fire in study on first time buyer market

The study says 31% of respondents are looking to lower the costs of the mortgage broker service when they next buy a home. 25% of respondents said they would try to reduce removal costs when they next move house and 20% of respondents are keen to lower conveyancing costs.

property buyer

13% of people questioned are eager to lower survey costs, and 5% are looking to find better value for money estate agents. However, there is a caveat that as first time buyers don’t have a property to sell, their dealings with agents may be limited.

In follow-up questions in the survey, 15% said they wish they had haggled on the property price and 10% believe they made an error in using their entire savings to pay for the deposit. Using your savings in this manner makes it impossible to leave money aside for emergencies or carry out improvements around the home. 8% of respondents said they wish they had found a better mortgage broker and 6% wish they had a more detailed survey carried out of their home.

Many buyers automatically turned to their bank

One intriguing element comes with the fact around a quarter of first time buyers turned to their bank for a mortgage rather than comparing the market. Of course, this is likely to be a key element the company behind the survey was looking to find, so this may be skewed, but buyers are advised to shop around and find the best deal. 19% of respondents stated an opinion that mortgage brokers provide no value when buying a property.

Mark Goldson of Comparethemarket, said; “People with no prior experience in purchasing a property may not be aware which services and products offered to them on the home buying journey are mandatory and which are discretionary and, importantly, whether they are good value or uncompetitive. The whole buying procedure can be intimidating, particularly for those going through the process for the first time.  Fears around hidden fees and dealing with estate agents, lawyers, surveyors and mortgage companies are legitimate and strong enough to put off people from trying to make a purchase.”

There is no denying that buying a house is expensive, but many first-time buyers are unsure of how to best spend their money. There is a great deal to be said for slowing down when you buy your first home and taking in as much guidance as possible.

Whatever move you are keen to make in the property market, it is best to call on the experts for help. As a first time buyer, if you need guidance or assistance, contact Williams of Petersfield, and we will be more than happy to assist you.