Will Feng Shui Help You Sell Your Home?

When it comes to selling your home, it is natural to do whatever it takes to connect with buyers. At Williams of Petersfield, we are pleased to say we help homeowners present their house in a way that enhances its look, and makes it easier for buyers to connect with the property.

In recent times, there has been a focus on ways for homeowners to steal an edge in the market, and for some, Feng Shui has been mentioned!

What is Feng Shui?

1. Feng Shui is the ancient Chinese practice of arranging your home to promote good luck and abundance

2. It was originally used in homes, but can be applied to other places like offices or even cars

3. The goal of Feng Shui is to create a space that promotes happiness, health, and prosperity for its inhabitants

4. There are 3 main principles behind Feng Shui – Chi (energy), Yin Yang (opposites) and Ba gua (8 trigrams)

5. The way you arrange furniture in your living room should take into account these three principles so it’s balanced with the outside world

6. For example, a couch on one side of the room against a wall will block chi from flowing freely through the front door

Are you ready to change the look and layout of your home?

Research carried out by Manor Interiors suggest that 86% of property buyers said the initial layout and design of a property is important to them. Other findings include:

  • 70% of respondents said this influenced their most recent property purchase.
  • 38% of respondents said they made further changes to their new home as soon as they moved in.
  • 72% of respondents said they paid more for their home because they liked the design and layout.
  • On current market values, Manor Interiors believes a Feng Shui premium could add as much as £19,743 to a property value, based on the current average value being £256,405.
  • They also believe a negative Feng Shui state could reduce the property value by as much as £25,641
  • Manor Interiors state the difference between good Feng Shui and bad Feng Shui in a home as being as much as £45,384

Separate analysis from the International Journal of Housing Market and Analysis states positive Feng Shui could add as much as 7.7% value to a home, while poor Feng Shui could lower property value by 10%.

Farhan Malik, CEO of Manor Interiors, commented: “While you may or may not be completely convinced by Feng Shui, there’s no doubt that many of us will relate to the core principle of perfecting the design and layout of our home if only to suit our own personal tastes. Doing so can transform how we think and feel about our home and so it can certainly make for a happier home life and a greater appreciation for our property. It’s also understandable that this plays a role when looking to buy, both in terms of the homes we opt for and the price we’re willing to pay and research shows that positive Feng Shui really can have a substantial impact on property market values.”

Farhan Malik also said; “Whether you buy into it or not, it’s a particular focus of many housebuilders who market new build developments to foreign buyers where Feng Shui is deep-rooted within the culture of their native country. When furnishing these developments, we often have to consider how the furniture and layout of an apartment or house will not only impact the Feng Shui but also how we can maximise positive energy to increase appeal once it does go up for sale or let.”

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.

Strong Sales Pipeline In Housing Market

At Williams of Petersfield, we are pleased to say we have helped many buyers and vendors in the past year. This has been a busy time for the housing market, and a lot of moves have taken place.

This is something we have seen for ourselves, and it is also something which comes up in various studies.

Rightmove highlight the number of prospective property deals

The survey was carried out by Rightmove between 1st April and 12th April 2021 and 7,803 respondents engaged the study.

Rightmove stated the following highlights of their study:

  • More than 700,000 homes are marked Sold Subject to Contract and going through the sales process, the highest number Rightmove has recorded over the past ten years and 78% higher than in May 2019
  • New research among buyers expecting to benefit from the stamp duty holiday has found only 4% would abandon their plans to buy a property if they missed either the June or September deadline in England:
      • One in four (25%) said they would try to renegotiate the price with the seller
      • 13% said they would plan to buy a cheaper home
  • 131,000 homes worth over £250,000 were marked Sold Subject to Contract in England between July last year and the end of February and are still trying to complete before the June stamp duty holiday deadline

The sales pipeline, as of mid-June 2021 in Great Britain was 704,000 sales. This is the highest figure for more than a decade. At the beginning of 2021, the sales pipeline was 613,000.

Many people are still keen to move

Rightmove spoke with people looking to move by September, with the following findings:

  • 29% of respondents said they expect to move in time to capitalise on the stamp duty holiday
  • The most commonly cited reasons for looking to move include; buying a home with a garden, moving to the coast or the countryside, to move to a bigger home or coming across the ideal property
  • 4% of the group who plan on utilising the stamp duty holiday said they would abandon their plans if they missed the relevant deadline
  • 53% of respondents said they would carry on as planned
  • 25% of respondents said they would look to renegotiate with the seller
  • 13% said they would look to buy a cheaper property

Rightmove’s Director of Property Data Tim Bannister says: “The easing of restrictions, extended stamp duty holiday, better mortgage availability for first-time buyers, race for space and relocation plans have all combined to create the biggest conveyancing logjam we’ve ever recorded over the past ten years. We really hope those who had at least four months to make it through to completion will make it in time to beat the first stamp duty deadline, but with the tapering until September many will still make some savings so all will not be lost. The pace of properties coming on and off the market is also the quickest we’ve recorded, and agents are telling me they have multiple viewings followed by a number of offers within days of a property first appearing on Rightmove. At the start of this year we had anticipated a quieter second quarter of the year, but buyer demand and the pipeline has continued at pace, making it an incredibly busy time for agents and conveyancers in many areas right now.”

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.

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.

Detached Properties In Demand And Rising In Price

As people crave more space at home, it is inevitable many house moves will occur with households moving to a larger property. Therefore, detached properties are likely to be in demand, and in Petersfield, there is a good selection of detached properties for sale.

As of late February 2021, Rightmove had 77 properties listed for sale in Petersfield. Of these 77 properties, 16 were classed as detached properties.

How is the Petersfield market faring?

At this time, Rightmove described the local housing market as;

Properties in Petersfield had an overall average price of £423,692 over the last year.

The majority of sales in Petersfield during the last year were terraced properties, selling for an average price of £354,966. Detached properties sold for an average of £627,628, with flats fetching £221,511.

Overall, sold prices in Petersfield over the last year were 4% down on the previous year and 3% down on the 2018 peak of £436,809.”

As by the Rightmove figures, the average price of detached properties in Petersfield over the past 12 months is £627,628.

At the end of 2020, the average price of a detached property in the UK was £486,595. This is a rise of 10% or £43,365 compared to the end of 2019.

Information provided by the Halifax suggests this is the most notable boom in property in the past 12 months.

There was a rise of 3.19% for flats, equivalent to £4,533, which rose to an average price tag of £146,717

The increase for terraced properties was £11,178, a rose of 5.84%, taking the average price to £146,717

Semi-detached properties rose by 6.26% to £16,930, holding an average price of £287,313.

Russell Galley, Managing Director, Halifax, said: “As many continue to work from home, this has led to a significant increase in demand for bigger properties, which has likely driven the boost in price we’ve seen in detached homes versus other property types. Over the past six months, the average UK house price has risen by 6.3%, making it the market’s best half-year performance since early 2007. While this increase is good news for the market overall, it has further widened the rungs on the housing ladder – particularly for those looking to upsize to a detached property – making the jump more expensive than ever before.”

You can expect to pay more for a larger home

Flat owners have been advised they will be expected to pay an additional £55,823 to upgrade their property, and move into a terraced house.

Terraced property owners should expect to pay an additional £84,777 to move into a semi-detached property.

However, anyone looking to move from a semi-detached property to a detached house should be prepared to pay an additional £199,282.

Property price rises in 2020 means house price inflation as of the end of 2020 for property movers stands at 6.4%, and this is higher than it is for first-time buyers, which stands at 4.5%.

Russell added: “While price increases are good news for the market overall, this has impacted home movers looking to upsize, as the gaps between each rung of the housing ladder have widened significantly. Those who have been unable to take a step up the housing ladder in the last year or so may find it harder to trade up than ever before.”

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.


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.

Petersfield Property Owners – Declutter And Sell In 2021

With 2021 starting with another lockdown, it is likely many people have spent a lot of time at home. If you are looking for an activity or project to fill your time while at home, have you considered decluttering your home?

Spring cleaning time is fast approaching, and this is an ideal opportunity to transform your home. There is a great deal to be said for freshening up your home, and if you are looking to create more space, this is a hugely effective practice.

Of course, at Williams of Petersfield, we believe the decluttering process is crucial when it comes to selling your home.

Decluttering your home before listing it for sale delivers the following benefits:

  • Your home will look larger, which should make it more attractive to prospective buyers
  • The process adds perceived value to your property
  • A decluttered home offers fewer distractions to prospective buyers
  • A decluttered property helps prospective buyers imagine themselves in the home

All homeowners can benefit from decluttering

However, you don’t need to be in the process of selling your home to benefit from the decluttering process.

A study in 2019 asked people what motivates them to declutter their home, and give their house a spring clean. The following answers were recorded:

  • To reduce stress or act as a mood booster – cited by 35%
  • To create a minimalism style at home or to help build sustainability – cited by 21%
  • More space was needed around the home – said by 19%
  • To refresh the property for the spring season – listed by 12%
  • To increase productivity – named by 6%
  • To find and then sell unused items – cited by 6%

Decluttering might change your shopping behaviour

If you are looking to change your shopping behaviour, you might find decluttering is of benefit to you.

The same study also uncovered people’s thoughts on their shopping habits after the decluttering process:

  • 5% of respondents said they stopped shopping after decluttering their home
  • 34% of respondents said they shopped less often after decluttering their property
  • 30% said they shopped more mindfully after decluttering their house
  • 30% said there was no change to their shopping behaviour after decluttering their home
  • 1% of respondents said they shop more now after having decluttered their property

Lizzie Grant, is the founder of organisation site Declutter on Demand and self-proclaimed professional organiser. She spoke about decluttering as a great way to start the New Year or start a spring clean.

Lizzie spoke to the Independent, saying; “A wardrobe is a good place for many to start as it’s sometimes easier to pull out things to get rid of that are too tight or old. Make sure you sort them into piles and put into bags straight away. Create a ‘keep’ pile, one to donate (or sell) and then a recycling one for old clothes. Stick to this so that you don’t fall into the trap of deliberating and dithering over times.”

Lizzie also recommends tackling your ‘junk drawer’, saying; “Let’s be honest, everyone has one where items that don’t have an official home get shoved. Try getting everything out and throwing away things that are no longer useful to create a ‘useful drawer’ instead.”

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.

Annexe Applications Rise As Homeowners Need Space

It shouldn’t come a surprise to learn that thousands of homeowners across the UK have taken steps to improve their home. A lot of people have moved home or looked to move property but with information provided by Churchill Home Insurance, planning applications for garden annexes were considerably high.

Close to 9,000 planning applications were made, and a lot of this is down to the first lockdown period.

People need space at home

The insurance company suggests that this amounts to 25 applications per day.

It is likely that remote working and home-schooling influences people, and the same source found that 6% of property owners intend to add a garden annexe to their home this year.

While the average cost of an annexe is around £7,000; the value of a property can be increased by as much as £91,000 depending on the size and standard of the extension.

The main three reasons people want to add an annexe to their property were as follows:

  • Allowing other family members to move in to assist with childcare – said by 17% of respondents
  • Home schooling requirements – said by 16% of people
  • Moving a family member in to be part of the same household – said by 16% of respondents

How would you utilise additional space at home?

Other reasons why people use existing or plan to use a new annexe include:

  • A breakout space, listed by 28% of respondents
  • A living area for children, cited by 16% of people
  • A space for parents, listed by 15%
  • A leisure space, named by 13% of people, with a bar a fantastic example
  • A living area for elderly relatives, named by 10% of people

Pritpal Powar, Head of Churchill home insurance, said: “We expect more from our homes now than ever before. As well as places to relax, they are offices, businesses, schools and gyms. These structures are often relatively cost-effective and can quickly add both space and value to a property, so it is no wonder so many of us are looking at how we can create more space without spending huge amounts of money on building extensions or moving.”

Pritpal continued by saying; “Anyone considering constructing or converting a garden annexe needs to inform their insurer that work is taking place and consider the additional building and contents that they may need on their policy once the work is complete.”

Over the last year, it looks as though planning applications for new garden annexes achieved a greater level of success than applications for converted annexes. 75% of applications for new annexes were approved by local councils, while the success rate for conversion applications was just 67%.

79% of all planning applications in 2019/20 were for new constructions, with the remainder (21%) being for conversions.

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.

Buyer Search Changes In 2020

It is fair to say 2020 was a year like no other, and this was reflected in the housing market.

The end of the year was a strong time for the property market, but there was also a period earlier in the year when the market was placed on hold. So, there were a lot of ups and downs.

There was also a lot of fresh challenges, which changed the way people evaluate what is important to them. The lockdown periods saw many people spend a lot more time at home, and this has resulted in a shift in what prospective house buyers deem important in a property.

What matters to you in a home?

Information provided by Good Move offers insight into what buyers were looking for, and how this differs from previous years.

The searches which experienced the highest growth compared to the previous year are as follows:

  • Apartment with balcony (147%)
  • Apartment with hot tub (139%)
  • House with tennis court (127%)
  • House with swimming pool (109%)
  • House with driveway (107%)

The rise in searches for a balcony shows how important fresh air and privacy are for people!

Functional searches matter in the new normal

Other increases worth paying attention to are functional searches. There was a 106% increase in searches for a driveway, a 101% increase with respect to conservatories and there was a 77% increase in searches for a double garage.

Where were people searching for homes?

There was a lot made of people leaving London, and we have experienced an uplift in demand for homes in and around Petersfield.

The following list shows some of the most notable uplifts in property searches:

  • A 73% increase in searches for houses for sale in Buckinghamshire
  • There was a 72% rise in searches for houses for sale in Berkshire
  • West Yorkshire experienced a 69% increase in house searches
  • There was a 61% rise in searches for homes in Hertfordshire
  • Surrey experienced a 59% rise in searches for houses for sale

Nima Ghasri, Director at Good Move, comments: “Against all odds, this year has positively impacted the UK housing market and completely transformed the way buyers and sellers look at properties. More and more people are moving away from flats and apartments and into homes with outdoor space, and we’ve also seen many people looking to move away from cities into more rural areas.”

Nima Ghasri also said; “As we approach the New Year, we wanted to look back on the year in property search and reveal what potential buyers were actually looking for this year. It’s interesting to see that they have been searching for more luxurious features such as a swimming pool and tennis court, no doubt due to the increase of time spent at home and leisure facilities closing due to the pandemic. It’s also fascinating to see the areas where people are searching for properties the most, with South-East and Northern England the two hotspots. As we move into 2021, we look forward to seeing how the property market adapts to buyer’s 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.