The latest news from HoldenCopley

What's happening in the UK property market?

After two years of high market activity, you’d be forgiven for thinking the tide is ready to turn. But despite burgeoning constraints on household finances, the buying frenzy continues, with properties still selling at almost record speeds nationwide.*

But what’s driving this situation? The leading cause appears to be a general lack of supply. From delays brought about by the pandemic to a shortage of new homes across the UK, the supply-demand ratio is proving difficult to balance.

Low interest rates and rising inflation also mean that buyers hope to reduce their potential mortgage debt. This combination of factors has contributed to UK house prices increasing by 9.8% between March 2021 and 2022 – adding £24,000 to the average value.**

The market is still strong as we move into the summer months – and will most likely remain so for the foreseeable future.

Do you know how much your home is worth right now? If you’re thinking of selling, book a valuation with us today.

*Home.co.uk.

**UK House Price Index

What features are buyers looking for in a home?

A new survey, commissioned by a leading UK provider of uPVC windows and doors, has attempted to unearth the secret to presenting a house as a ‘forever home’. The results suggest British buyers are very practical when it comes to our list of must-haves!

60% of people surveyed said a garage was at the top of their wish list. Over half (51%) said a family room was important to them, 42% would be looking for a walk-in closet, and 39% consider a home office essential.

Location also plays a major part in the decision to invest in a forever home, with 43% of respondents sharing their desire to move to a rural location, and another 23% wanting to be close to the coast.

If you think your house could be someone else’s forever home, get in touch for an obligation-free valuation.

*Safestyle UK

Investing in property? Here are our top tips!

With high demand for property driving up house prices and rents across the country, now is a great time for new or established landlords to ride the wave by investing. But where should you start, and how can you improve your chances of a respectable return? Read on to find out.

Choose your location

Ideally, it’s sensible to invest in an area within a manageable radius of your current location. This will allow you to visit the property easily, complete any necessary improvements, or keep an eye on contractors. If you live nearby, you’re also more likely to know which streets and neighbourhoods are the most desirable, helping you identify golden opportunities as soon as they arise.

Once you’ve settled on a general area, spend some time researching the current market conditions, including the average local rent and sale price for the type of property you’re interested in buying.

Hint: A trusted local agent like ourselves can advise you on this.

Identify potential ways to add value

While searching for the perfect rental, consider ways you could improve a property to make it more appealing to your ideal tenant. Could you add an extra bedroom or a home office by converting the loft? Is the property worth renovating to bring it in line with more high-end lets? This is where your market research will come into its own.

Other ways to increase profit may include selling off additional land a tenant won’t need or splitting up a building into apartments. Just make sure you obtain advice from a relevant professional before you invest.

Decide on funding

Yes, opportunities are endless for cash buyers, but if you have the minimum deposit (usually 25%), a buy-to-let mortgage can help you achieve your dreams. The maximum you can borrow is linked to the rental income you expect to receive, which should be 25–30% higher than your mortgage payment.

Specialist lenders may also provide a bridging loan to cover the cost of renovations while you get the property up-to-scratch.

Beyond these top tips, our property experts are always on hand to help. Contact us to discuss potential investment opportunities or book a rental valuation.

What are tenants on the hunt for in a property?

A recent report by the Social Market Foundation (SMF) has revealed tenants’ top priorities when choosing a home.* The results may help landlords make the most out of their properties while providing a valuable service for the wider community.

While the private rental sector faces huge demand, landlords who listen to their renters’ needs are more likely to attract long-term, conscientious tenants desiring a secure home.**

So, what steps should landlords take next?

Pitch the price just right

After financial pressure brought about by COVID-19 and the cost of living crisis, it’s not surprising that 55% of tenants consider price above all else. However, many renters (35%) also prioritise bigger properties, so where is the sweet spot?

Understanding regional dynamics can allow landlords to balance the property’s worth with affordability considerations. For example, some tourist-heavy counties have a disparity between house prices and local wages as homes are snapped up for the holiday market. Rents based purely on the property’s sale value may exclude local families in these areas.

A lettings valuation will give you a clear baseline to adjust accordingly, depending on your circumstances and long-term financial goals – and the type of tenant you’d prefer.

Consider allowing pets

According to the SMF survey, 18% of tenants seek rentals that welcome animal companions. Compare this to the mere 7% of landlords who actively market their homes as pet-friendly.

If you’re preparing a new rental property, perhaps think of ways to make it more suitable for pets, such as choosing wooden or tiled floors over carpets, or securing the garden.

Provide value for money

Everyone loves a good deal – including renters. Although many tenants have a tight budget, plenty will pay more for high-quality interiors and decent gardens. In fact, the latter was cited as a top priority, especially for those looking to create a long-term home.

Choose a property near amenities

If you’re planning to invest in a buy-to-let property, it’s worth knowing that 38% of renters wish to live near their workplace. Public transport facilities and access to shops also factor in for 37% and 36% of tenants, respectively. Therefore, it’s worth searching for opportunities that tick these boxes.

Want to learn more? Contact us to discuss how to boost your property’s rental potential and book a lettings valuation.

*Social Market Foundation

**Paragon Bank

Summer interior design ideas

After the spring clean comes the summer spruce-up. Longer days and warmer evenings offer the perfect opportunity to tackle those home décor projects – especially if you have some time off work. Read on to be inspired by this year’s interior design trends.

Go green

Summer is the outdoor season, so why not celebrate nature inside? House plants clean the air and have a positive effect on our mental and physical health – and even the fake ones look attractive.

While a statement plant like tropical monstera stands out against a white wall and perfectly complements natural fibres, you can pick up stylish rope-tied hanging pots and tumbling plants – real or fake – to spruce-up areas where floor space is at a premium.

Be bold

For an instant transformation, infuse neutral rooms with a splash of colour – perhaps to an accent wall. Primary colours are in style right now, so think deep blues, yellow and red. Colourful artwork and photography can also add interest if you want to avoid painting.

Patterns are popular too. Keep an eye out for summery prints for your cushions, curtains, rugs and sheets. Just don’t overdo the kitsch – simple is often best.

Get glamorous

Rose gold, brass and copper tones can bring a little sunshine into your home. Offset your current décor by introducing metallic accents to light fittings and shades, kitchen accessories or candleholders.

Strapped for cash? Try upcycling shabby furniture with gold leaf, or spray your picture frames or coffee tables for some extra glitz.

Stay cool

Sometimes, we may need to retreat from the warmer weather. Blue hues can soothe the mind, while furniture and décor that nods to a chic, bohemian or vintage vibe can have the same effect. Equally, natural materials and throws, blankets, and hand-woven rugs can soften the impact of the bright light outside.

If you are looking to sell your home this summer, why not start by booking your free no-obligation valuation.