Up to the minute property news relating to the Petersfield property market and surrounding areas, for April 2019. Continue reading “Petersfield and Surrounds Property News: April 2019”
There are many opinions on what can be done to improve the UK property market and a growing amount of attention is falling on the significance of the elderly in the market. The UK has an ageing population, and as well as the economy and the healthcare sector, the fact that people are living for longer creates pressures in the property market.
It transpires that many people over the age of 65 would be keen to downsize from their current property to a smaller property but are struggling to find suitable or affordable property. One suggestion that has been floated is that stamp duty could be removed for elderly people downsizing into a smaller property.
In recent years, stamp duty has been amended to impact on landlords and investors buying additional property and for first-time buyers looking to step on to the property ladder. It is therefore not out of the question to consider that stamp duty changes may be applied to elderly people.
There needs to be movement in the market
If elderly people can downsize their property, paying a more affordable fee to buy a suitable property, there could be a greater amount of property on the market for people looking for a bigger home. In turn, if people can move up in the property market, the home that they leave behind can be used to welcome first-time buyers or downsizers. This would stimulate movement and spending in the property market, hopefully benefitting the market and allowing more people to buy the property that best suits their needs.
A recent study by an equity release adviser suggests that 63% of estate agents believe that the removal of stamp duty for property buyers making their final purchase would be a sensible move. The same study found that 32% of property owners classed as elderly state that stamp duty is a barrier to their movement.
Other solutions must be introduced to aid market movement
However, it is important to be aware that while close to one-third of relevant respondents suggested that the current stamp duty charge for elderly movers is a barrier, it isn’t the only barrier to movement. It may be that the removal of stamp duty for elderly homeowners moving creates some movement in the market but not as much as would be hoped for.
Given the number of challenges in the property market, it would be wrong to assume that one new feature or solution would solve every problem in the market. However, there is a need for a range of solutions to be introduced to the market and there is no denying that adjusting stamp duty could lead to a more positive outcome in the market if other solutions are unveiled alongside this decision.
No matter what your position in the property market is, if you are looking for support and guidance with your next move, contact Williams of Petersfield. We are pleased to say we have helped many local clients move home and we look forward to assisting you.
Even though it is difficult to predict what is going to happen next in the property market, it doesn’t stop people and businesses making predictions about property prices.
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 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.