Is Petersfield A Good Place To Live?

At Williams of Petersfield, we are likely to be biased, but we believe Petersfield is a good place to live. If you are thinking about moving in 2022, and you are keen to find a place where you can settle down, this is one of the options you should consider.

What does Petersfield have to offer?

Given that Petersfield is regularly listed as one of the best places to live in the UK, including in the renowned Sunday Times guide, it is no surprise that a lot of people are attracted to the area.

There are many reasons why this location is such a great choice but the regularly markets, the array of independent and boutique stores, and the wide range of events hosted in the town all add up to making a place where people feel safe and happy to stay.

Even during the trying times of the past couple of years, the community spirit of Petersfield has shone through, making this an ideal destination for buyers looking for a brilliant place to settle down.

Also, when you consider the events of the past couple of years, it is easy to see that many people are looking to live in a place with plenty of outdoor space close to home. With this in mind, the impact of Petersfield Heath cannot be overstated. With 69-acres of greenery located so close to the centre of Petersfield, you can enjoy all the open space you desire here!

How is the Petersfield housing market faring in 2022?

According to Rightmove, as we enter 2022, the Petersfield housing market is faring as follows;

Properties in Petersfield had an overall average price of £509,939 over the last year.

The majority of sales in Petersfield during the last year were detached properties, selling for an average price of £753,499. Terraced properties sold for an average of £370,545, with semi-detached properties fetching £483,978.

Overall, sold prices in Petersfield over the last year were 19% up on the previous year and 17% up on the 2018 peak of £436,809.”

The figures stated above indicate there has been a significant increase in house prices in Petersfield in the past year. While the numbers are genuine, there are many reasons as to why these figures are what they are.

The previous year was a slow moving one for most of the market, and it is no surprise that the market grew sharply. Also, with the Petersfield housing market being a modest one, sometimes a few outliers can have a massive impact on the property market.

Also, with demand outstripping the level of supply in the housing market, it is no surprise that sold prices have increased. This has been the case in many parts of the country.

If you are looking to sell your Petersfield home, please get in touch with Williams of Petersfield, and we will be more than happy to represent you. We are pleased to say we have assisted many vendors in connecting with buyers, and we look forward to assisting you in 2022, and beyond.

Contact Williams of Petersfield for all your 2022 property market needs

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.

Will Downsizing Impact All Buyers And Vendors?

When it comes to looking at the housing market, it is natural people only pay attention to the issues that they think impact them.

Property news about locations where they don’t wish to live or buy a home carries no relevance to them. Similarly, property news regarding property types or sizes that don’t interest will be unimportant to them.

However, the way the property market is connected might mean these matters have a bigger influence on your attempts to move than you think.

You might not think downsizing is relevant for your next move. It could be you think downsizing is only for elderly people looking to buy a more manageable home, or people looking to move to a more affordable property.

These circumstances are common, but there is also connectivity to other buyers and vendors.

If you are looking to buy a larger home, your ideal house might be one placed onto the market by a downsizing household.

If you are looking to sell your home as you move to a larger property, the ideal buyer for your current property might be someone who is downsizing to your current size.

Therefore, downsizing is a key issue in the housing market, and at Williams of Petersfield, we will keep you informed with what is happening right now.

A study by Audley Group indicates a growing number of older homeowners are considering downsizing sooner than they intended to. Admittedly, this research has been carried out by a retirement homes developer, so there is a likely bias to their findings.

The survey of people aged 55 or older found:

  • 34% of respondents wished to live in a better area
  • 29% of respondents wanted to live closer to their family and friends

There is growing demand for retirement property

According to the Associated Retirement Community Operators, again a body who have a vested interest in the market, suggests 85% of retirement property providers experienced an increase in sales and lettings in autumn 2020 compared to the previous year.

The same study also provided the following returns:

  • Higher sales and lettings in 2020 compared to 2019 were stated by 30% of respondents
  • 25% of respondents said they saw sales and lettings at least 50% higher in this field

Rightmove information also suggests a movement in this manner

While there has been considerable focus on larger homes, Rightmove information suggests bungalows have been in significant demand. Their findings suggest:

  • The number of properties sold in 2020 was 7% higher than for 2019
  • There was a shortage of bungalows listed for sale, falling 10% on the 2019 figures
  • By comparison, the drop for houses was only 3% in this time period
  • The average asking price for property rose by 4% to £317,583

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.

Are You In Your Forever Home?

If you are settled in your current property, there is probably a high chance you have no intention of moving. When you think of the number of people who have moved home in the last six months, there will be many people feeling settled.

The stamp duty holiday has driven demand, and moves. It has been a challenging time, and it is easy to see why many homeowners have no intention of moving home again. You might be in this situation, and if so, you probably don’t need our services.

Then again, if you are reading this blog, you probably aren’t planning to stay in your home forever.

We are here to help buyers and vendors

Circumstances change, and there might be reasons why you need to move home.

A recent study suggests many people feel settled, and in no rush to move. Which is fine, but if circumstances change, we can help.

Property Platform WiggyWam has spoken to buyers about the moving process.

  • 45% of homebuyers in the UK found the property buying process to be so frustrating they vow to never go through it again
  • 24% say that although they would prefer to not move again, they expect to do so because of personal or lifestyle circumstances
  • 21% say they will never move again

There is an average of one million property transactions in the UK each year. 45% would account for 450,000 potential buyers looking to avoid the housing market. 210,000 buyers would be lost to the market.

However, not all is lost:

  • 47% of buyers said the buying and moving process was as they expected it to be
  • 20% of property buyers said the experience was better than they expected
  • 33% of buyers said it was explicitly worse

What was frustrating?

  • 33% of respondents said the time taken to complete the move was frustrating
  • 22% said dealing with conveyancers and solicitors was frustrating
  • 10% said being unable to find suitable property was most frustrating
  • 8% said additional costs was an off-putting element

Silas J. Lees MRICS, WiggyWam CEO, says: “Anyone involved in the house-moving process knows it’s a highly stressful event in a person’s life. I think the industry can grow immune to the real-life impact this has. When the entire process is drawn out, convoluted and rife with delay, as so much of it historically is, people’s lives are negatively affected. We should no longer accept a sales process that is akin to putting clients through a mangle and then charging them for the privilege. This is why we lose 1-in-5 potential buyers every year.”

Silas continued by saying; “And this goes hand-in-glove with the clear fact that movers care little for the taxes, duties, and fees attached to the moving process; something which we in the industry spend so much time fretting over. Buyers and sellers are willing to pay for premium service, to remove stress and tribulation.”

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 Vendors – Legal Kerb Appeal Sells Your House

One of the most important things you can do when selling your home is to make buyers feel confident. If a buyer feels positively about your home, and that they will receive value for money with the purchase, they are more likely to make an offer.

Therefore, it makes sense to show your home is in good condition. You also want to prove you have every legal issue taken care of. At Williams of Petersfield, we are pleased to say we have helped many local homeowners sell their home, and we believe taking care of the legal kerb appeal makes a positive difference in the sales process.

What is legal kerb appeal?

Legal kerb appeal, in the words of Chris Salmon, who is a co-founder and Director of Quittance Legal Services, is; “Simply, legal kerb appeal is the strengths of the property when considered from a legal perspective. Legal kerb appeal could also involve proactively addressing any potential legal issues before a buyer is found.”

In an interview conducted on the Property Road website, Chris was asked about what vendors should look to do to ensure they are ready to sell their home in the near future.

Chris responded by saying; “If you are on or are thinking of going on the market, we’re pushing the concept of ‘legal kerb appeal’. Sellers will be entering a buyers’ market, and must do everything they can to improve their chances not only of finding a buyer, but also completing the sale.”

He continued by saying; “For example, if the property has a roof terrace without planning permission, the buyer’s solicitor will pick this up. Instead, the seller’s solicitor can identify a suitable indemnity policy and offer it as part of the sale. This proactive approach will reassure buyers and avoid delays later in the process.”

How will the housing market move forward?

Chris was also asked about what he thinks will happen in the property market when the industry moves forward. He said; “The consensus is that the pent-up demand that emerged shortly after the 2019 election will gradually resume. It’s very likely that in-progress transactions will suffer a logjam as capacity challenged property services firms struggle to fulfil a rush of requests for searches, surveys and managing agent information. We anticipate significant delays for up to a few months after the lockdown eases.”

Steps in managing legal kerb appeal

With so many sources discussing the importance of legal kerb appeal, most vendors will be keen to incorporate it into their sales process. Here is a list of steps you should follow in managing legal kerb appeal before and during the sales process:

  • Complete all property transaction forms
  • Anticipate which problems are likely to occur, and resolve them
  • Involve external parties and management agents as quickly as possible
  • Collate all documents as early as possible
  • Start the process of recovering or replacing missing documents as early as possible
  • Agents, vendors and legal professionals should work together to find solutions

The earlier you start, the better

As with most things in life, and certainly as with many things in the sales process, the sooner you start, the better. When it comes to legal kerb appeal, the sooner you start to put things in order, the better for you.

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 To Prepare A Home For Sale After Lockdown

With the Government announcing the housing market can re-open, a lot of people have been keen to engage the market as quickly as possible. Both Zoopla and Rightmove, leading property portals in the United Kingdom, have unveiled stats indicating there was significant pent-up demand in the market. Continue reading “How To Prepare A Home For Sale After Lockdown”

5 Tips To Help If Your House Isn’t Attracting Buyers

There are many stages of selling your home, and it is important that you focus on each stage enough to progress to the next level. It is understandable that many vendors are concerned about the viewing process and making sure buyers want to place an offer on their house. Continue reading “5 Tips To Help If Your House Isn’t Attracting Buyers”