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.

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.

Vendors With A Pet? Tips To Sell Your Home

Selling your home can be a lot of work, and vendors must overcome a lot of obstacles in their way. In the current climate, selling a house is a tricky proposition, and this is why Williams of Petersfield is here to ensure you receive the best standard of service, no matter your circumstances. If you’re a vendor with a pet, we have tips to help you sell your home. Continue reading “Vendors With A Pet? Tips To Sell Your Home”

Vendors And Buyers Want Help From Traditional Agents

When the housing market re-opened, there was a significant spike in demand, which is perfectly understandable. During lockdown, some people’s circumstances will have changed, and other people will feel like a change of scenery, after having spent a lot of time at home. Continue reading “Vendors And Buyers Want Help From Traditional Agents”

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”

DIY Work Is In Demand During Lockdown – Top Tips

With so many people spending more time at home, and looking for projects which will keep them active, it is likely there will be a DIY boom during lockdown. With many leading DIY and hardware stores re-opening, offering the chance for homeowners to buy equipment and materials, homes across the country will be restyled. Continue reading “DIY Work Is In Demand During Lockdown – Top Tips”

Is Confidence Back In The Property Market?

Confidence can make a massive difference in the property market, and it is easy to see why so many people want to feel more optimistic about the market this year. Information provided by NAEA Propertymark isn’t going to dampen enthusiasm, and it is easy to see why many people feel 2020 could be the year when things improve with buying and selling homes.

A lot of the optimism stems from the organisation stating the number of prospective buyers, and the number of agreed sales, increased in December 2019, compared to December 2018.

The year on year sales agreed per member branch stood at five in December 2017 and 2018, but in December 2019, the number have increased to six agreed sales per branch. This may not seem like much, but any step forward is to be celebrated, and there are many reasons why December is a slower month in the market.

Of course, the General Election of 2019, and the convincing margin of victory for the Conservative Party means December 2019 wasn’t a standard month or a typical December.

Sales to first-time buyers increased

The presence of first-time buyers is crucial, because this is the largest group of buyers in the property market. The number of sales made to first-time buyers in December 2019 increased marginally from November 2019. The figures moved from 28% to 29%. However, the year-on-year figures showed a notable increase of 5%. The December 2018 figures stood at 24%.

There was a fall in house hunters registering with estate agents

One area where there was a slight hit in the market was the number of house hunters registered per branch. In November 2019, this stood at 332, but in December of 2019, this had fallen to 313. This is the lowest figure since July 2019, when there were 305 house-hunters per branch. However, there was an increase in the year-on-year figures, which stood at 304 potential buyers per branch in December 2018.

More homes were supplied to the market

In November 2019, there were 39 homes supplied to the market per branch, and by December 2019, this increase to 41. This is the highest figure since August 2019, when there were 44 houses per branch on the market. There was a slight dip in the year-on-year figures, moving from 42 in December 2018.

Mark Hayward is the Chief Executive, NAEA Propertymark and he said; “After a period of suppressed market activity due to Brexit and political uncertainty, the clear outcome of the General Election in December has injected some much-needed confidence into the market.”

Mark continued by saying; “Despite it typically being a quieter time of the year seasonally, our figures have shown positive trends with both demand and the number of sales being high in comparison to previous years, as both buyers and sellers no longer hold off on their plans. This is an encouraging close to the year and we hope to see more of this stability in 2020.”

If you plan on making a move in or around Petersfield this year, contact Williams of Petersfield, and we will be happy to help.

Tips To Sell Your Home Effectively In 2020

In the aftermath of the General Election in December of 2019, there was a significant spike in mortgage searches. It is likely this increased level of buyer demand will continue in 2020, which means if you are considering selling your home, 2020 is the year to do so.

Of course, more buyers usually lead to more sellers in the market, so it will likely still be a competitive time in the property market. Therefore, if you plan on selling your home, you should be looking for ways to enhance your chances of selling your home quickly and without too much effort.

At Williams of Petersfield, we are pleased to say we have assisted many clients in selling their home, and here are our top tips to sell your home effectively in 2020.

Choose a traditional agent, not an online estate agent

There is no denying online agents have affected the property market, and that some vendors have found their service to be of benefit. Over time, the importance of online agents will increase, but right now, the market isn’t quite in a position where you should opt for an online agent over a traditional agent.

Online estate agents are still more likely to list your property and expect you to sell it, as opposed to selling your home for you. This isn’t a suitable standard of service for most vendors, and we believe you will be much better off relying on an agent who has helped many people sell their home.

We believe choosing an agent with demonstratable experience and expertise in your local area, with your type of home, and with buyers who are likely to show an interest in your home is the ideal starting point in selling your home quickly and effectively.

List your property at a realistic price

While selling your house for as high a price as possible would be a tremendous outcome, this shouldn’t be a strategy you start off with. If you place too high an initial price on your property, you will struggle to attract attention.

Therefore, it is best to call on a local agent to evaluate your home before coming up with a value. External factors such as supply and demand, and local facilities, influence property price as much as the condition of the property. Therefore, it is best to call on an expert who understands the local market, and who can place an accurate value on your property.

Evaluate each offer on its own merits

If you are fortunate enough to receive more than one offer, don’t just assume the highest offer is the best offer for you. You should consider if the highest offer is part of a chain, or it comes from a first-time buyer. A buyer who isn’t part of a chain is likely to be a more appealing buyer to you, as chains add risk when selling your home.

If you are looking to sell your home in 2020, contact Williams of Petersfield, and we will be more than happy to assist you.

 

Caring For Your Home This Winter

Whether you are a landlord, a vendor or you have no intention of selling or letting your home soon, there is something which unites us all. If you own a property, you must make sure it is cared for in the winter period. Challenging weather conditions put homes under greater pressure, and if your home isn’t ready for winter, the inhabitants are in for a miserable few months.

At Williams of Petersfield, we encourage homeowners to be proactive when it comes to caring for their home this winter. If problems arise, you should act quickly, but it is better to act now and ensure problems don’t arise than it is to deal with issues. We are here to provide you with guidance which will minimise the likelihood of problems arising this winter.

Have your boiler serviced

Repairing or replacing a boiler is expensive, and it is obvious why many people would rather not worry about their boiler until an issue arises. However, this is the wrong attitude to have because if something does go wrong with your boiler, it can be a disaster.

When a boiler isn’t working, the property is cold and miserable. If you are a landlord, you will have a very unhappy tenant. Also, when a problem arises, the cost of replacing the boiler, and calling out a plumber in an emergency, is often very expensive. It is far more cost-effective to be proactive than reactive.

Protect your pipes

If your pipes burst or freeze, you are again in for a miserable time. It is vital you lag your pipes to protect them from cold snaps, and to maintain a level of consistency in their heat. You can buy commercially available lagging, but you can also use material that you have in the property. Lagging your pipes don’t have to be stylish, but it must be effective.

Review the roof

Quite often the roof is out of sight and out of mind, but if there are problems with your roof, you will suffer in winter. If rain or wind gets in, the house will feel cold and miserable. Energy bills will sky rocket, and there is a strong chance people will suffer ill health.

Therefore, it is imperative you call on expert to review your roof, and if any changes need to be made, you should make these changes.

You should also take the opportunity to clear your drains and gutters. If these are filled with leaves and debris, water is blocked and will be diverted. This may see water flow into your home, and this can cause considerable damage. Clearing your drains isn’t a job most people like, but it is one you must take care of.

When it comes to caring for your home in winter, it is better to act now than wait for a problem to arise. If you need assistance in managing rental property, or you want to learn how to care for your home before selling it, get in touch. At Williams of Petersfield, we are pleased to say we support the local community, and we look forward to helping you.

 

What Do Home Buyers Want?

If you are planning on selling your home in 2020, there is no harm in planning what you want to do. You will likely have some thoughts about the sales process, but the most important thing to remember is you want to appeal to the buyer. When you know what home buyers want from a home, you are in a much better place to provide them what they are looking for, which helps you sell your home.

At Williams of Petersfield, we are pleased to say we have helped many local vendors sell their property. We help connect vendors with people looking to buy a home, and we know how to provide them with what they are looking for. Our local knowledge and expertise make a massive difference in selling homes in Petersfield, and if you are looking for guidance, we are here to assist you.

Do you know what buyers love to see?

We also stay in touch with the latest studies and findings relating to the property market. A recent survey carried out by Hyperoptic indicates the following issues are very important for buyers when they look at property:

  • The number of bedrooms in a property is an important factor
  • Having a fast and reliable internet connection is crucial for buyers
  • Buyers want to be located close to a pub

While the importance of a local pub may change for some buyers, it is easy to see all three factors matter when it comes to selling your home. The number of bedrooms in a property has always been crucial. When a buyer searches for property, one of the criteria they normally search on is the number of bedrooms.

Broadband connectivity is crucial for buyers

It is also fair to say that a fast and reliable internet connection is essential these days. So much of modern life is dependent on the internet, and a lot of people will struggle if there is no reliable broadband at home. Whether someone wishes to work, or they want to stream live sports and the best boxsets, internet connectivity is a crucial factor for buyers.

Even if you aren’t too bothered about staying close to a pub, it is correct to say most buyers are looking for the chance to shop locally. When there is a sense of community in the local area, people feel at home, and this allows people to make the most of life. Online shopping provides flexibility for people, but there is no getting away from the importance many people place on shopping locally and meeting people.

Other factors which were cited in the study include living close to a train station and having a post box or post office close to the property. If you have these elements in your local area, make sure you inform potential buyers of their availability, as this may draw additional attention to your home.

If you are looking to sell your home, contact Williams of Petersfield and we will be more than happy to assist you. We are pleased to say we have helped many local homeowners connect with buyers, and sell their home.