The latest news from HoldenCopley

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

More landlords are needed to equal out rising tenant demand

You may have heard how well the sales market has performed over the past couple of years, pushing prices up 12.4% nationally*. The rental market has followed hot on the heels of this trend, with around three tenants currently vying for each property.**

Compared to the previous year, the number of available rental homes has dropped by 9%, which has nudged up the average price by £150 per calendar month.*** This means tenants now pay around £1,088 outside of London or £2,193 PCM in the capital.

But what’s driving this steep increase in demand? There are several factors involved. Rising house prices may force tenants to rent for longer than planned, meaning fewer homes are circulating on the market. Almost a fifth of landlords report tenants are staying put for longer than in previous years.****

In addition, concern over upcoming rental reforms has prompted some landlords to take their properties off the market. Dwindling stock further encourages tenants to remain in their current rental while they search for somewhere else to live.

The fallout from the pandemic has also muddied the waters, with many people choosing to move back to urban centres or escape to the country to work remotely. The latter is partly responsible for the intense pressures faced by tenants in popular rural hotspots.

Without more landlords joining the market to ease supply, many people may be forced to stay in unsuitable accommodation, leave their local areas, or even risk homelessness.

The good news is that if you have a property to spare, now is a great time to get involved and reap the long-term rewards a solid rental income can provide. This is especially true if you’re letting in areas recently boosted by the Elizabeth Line or where supply is strained.

Curious about how much your rental property is worth in the current market? Our friendly team is ready and waiting to book your lettings valuation.

*UK House Price Index (ONS: April 2022).

**According to a recent report by Property Reporter

**Data from TwentyCI and Rightmove (early 2021 to early 2022).

****Property Reporter (June 2022).

Spruce up your surroundings this August

Nature is fantastic for our mental and physical health, and being around plants and animals has many proven benefits, such as reducing stress and increasing oxygen supply.

As society becomes more conscious about living in harmony with the natural world, homeowners, architects, and interior designers everywhere are exploring the concept of biophilic design.

Never heard of it? Biophilic literally means ‘the love of living things’, and it’s all about lessening the divide between artificial environments and the natural world by bringing in the abundant greenery and materials available beyond your front door.

The pandemic created a change in lifestyle and priorities that prompted many of us to appreciate fresh air and green space to a greater degree. How you replicate that freedom inside your home depends on your budget and the amount of time you wish to invest.

On a macro level, this might mean creating a garden or sunroom either by repurposing a space or extending into the garden. Alternatively, large picture windows and glazed doors are great for framing a view and capturing sunlight.

Not much to see outside? If you have a garden or terrace, you could vary your planting scheme to encourage birds and wildlife or set up nesting boxes and feeding stations. Window boxes and windowsill herbs will also help to blur the line between inside and out.

Small details within your home can make a big difference too. Use natural materials, fibres, colours, and prints/patterns whenever possible, whether you’re refitting your kitchen or sprucing up your décor. Of course, if you can introduce plants or even a living wall somewhere in your home (or a courtyard), even better.

Improvements that appeal to buyers' desires can also increase your home's saleability. Even a few tweaks can help viewers appreciate your property's lifestyle, so think light, fresh, serene, and you can’t go far wrong.

Our team can provide an up-to-date valuation that reflects any recent changes you’ve made. We’re also happy to discuss specific ideas to maximise your asking price. Contact us today to book a face-to-face consultation.

Looking to buy a property? Avoid these common mistakes...

Whether you’re a first-time buyer or a homeowner who’s ready to take another step up the property ladder, buying a house is a big decision, with an equally large scope for making errors. To help you get off to the right start when looking, here are the key mistakes to avoid when buying a property.

Not having an agreement in principle

A mortgage agreement in principle is a conditional offer on a mortgage, this is based on an income and credit check. You may be asked for one by an estate agent before even being able to book a viewing, to prove that you are serious.

You should have an idea of how much you might be able to borrow from the bank or building society before you start viewing properties. This will help you establish your budget and find properties within your price range. Your due diligence will also ensure that estate agent and seller will take your offer more seriously.

Only looking at superficial details

A property can seem ideal at first glance, but it’s important to check for any issues which might be costly to fix or maintain. You should always check walls and appliances around the home to ensure that everything works as it should.

Remember to check for signs of damp and rotting window frames, test the flush on the toilet, and don’t be too shy to turn lights on and off to check the electrics.

Not researching the area

If you’re relocating for your dream home, make sure you research the area fully before putting in an offer. Local amenities and the community can be just as important to your lifestyle as the home itself. Check the local crime rate statistics, talk to neighbours if you get a chance, and look up local schools, shops and any facilities you’ll need close by.

Underestimating overall costs

While it’s a great idea to focus on saving up enough for your house deposit, it’s important to remember all of the additional costs involved in buying a home. You’ll need to factor solicitor fees, survey and valuation costs, as well as home insurance before you can comfortably take your first step onto the property ladder.

Not acting quickly enough

If you’ve found the perfect property that works for you and your budget, try not to spend too much time twiddling your thumbs and mulling over the decision. If you overthink things and weigh up other options for too long before putting in an offer, you could see your dream home get snatched up by another buyer.

Acting too fast

While acting too slow isn’t advisable, rushing into things is no better. If you make a snap decision with little research beforehand, you could end up in a home that doesn’t realistically fit your budget on a monthly basis and even worse, doesn’t fit your needs.

Take some time to picture yourself in the house and conduct as much research as possible until you feel happy to make an offer. You should never make an offer solely because you feel pressured, as this will ultimately lead to regret.

Have you been looking for a new place to call home? Browse our properties today.

Get your home ready in time for winter with these top tips

With Christmas on the horizon and a chilly winter around the corner, there are many things to look forward to (and prepare for) at this time of year. To get your home ready in time for winter’s festivities and inclement weather, now is the perfect time to start preparing.

Replace floor protectors on chairs

Particularly if your home has hardwood floors, the influx of guests brought in by the festive season could result in your dining chairs scraping and scratching your flooring. Check their feet, and add or replace floor-protecting pads if necessary.

Check paths, stairs and railings for safety

As icy mornings set in, your pathways will become more slippery, and could lead to risk if the footing is uneven or a railing isn’t sturdy. Be sure to inspect the outside of your home, paying special attention to walkways, stairs, and railings, and make repairs where needed, before the evenings grow even darker and the temperatures drop.

Welcome nature into your garden

Although hibernation season is upon us, there are still some critters and feathered friends who could use extra help when wild food becomes scarce and water sources freeze. Create a safe spot for nonmigrating birds, by keeping your feeders full and replenishing any water sources in your garden daily. You could also consider adding a bug hotel in your garden, so our pollinators and their friends have somewhere warm and dry to rest.

Get a head start on Christmas prep

If you plan on hosting around the Christmas period, it’s a good idea to take some time now and prepare a few things in advance. Polish your special occasion silverware and favourite plates, clean and iron the fancy linens and tablecloths, and plan out your dining table décor – you’ll thank yourself later.

Deep-clean the bathroom

Aim to schedule a deep clean of the bathroom and guest toilet, so that a quick surface wipe-down will be all you’ll need to get things looking spotless again during the festive season.

Cover any gaps

Minor misalignments of windows and doors, or cracks in the walls may not seem like much of an issue, but your home could lose a considerable amount of heat, and rainwater has a better chance of entering. Check your home for any gaps and cracks and make sure they’re sealed – whether it’s through DIY or investing in a tradesperson.

Remove the last of the autumn leaves

Aim to fit in a gutter-cleaning session once the last leaves have fallen — but before the first fall of snow.

Fix plumbing issues before waiting times skyrocket

If you’re experiencing problems with your plumbing, don’t wait until the busy festive season, when it may be more difficult to find an available plumber. You’ll avoid a Christmas without running water if you fix it now, before the issue worsens over winter.

Bring bulbs indoors

Potted bulbs make a lovely, thoughtful gift, and if you’re potting them for yourself, it’s easy enough to make a bunch to give away throughout the holiday season.

Stock up for winter

Dark, icy, and snowy mornings are hardly the ideal time for last minute trips to the shop for essentials. Taking the time now to stock up on winter gear and supplies will ensure less stress when the weather is not all that desirable.

Check scrapers and de-icers; replace as needed
If you use a fireplace or wood stove, order extra firewood
Stock up on pet and plant safe ice melt
Replenish emergency kits for car and home

If you’re considering selling in November, we can help you. Book a valuation today.

Increase your homes value this month with home staging

Home staging is a specialised skill which involves creating the perfect atmosphere in your home using furniture and accessories, plants and lighting, to garner buyer interest for your property and sell it faster, for the best price.

Home staging is still a fairly new concept, but this doesn’t diminish the importance of it on today’s housing market, here’s why:

The evidence

As evidenced in the research by the Home Staging Association UK, staged properties sell, on average, twice as fast and for up to 10% more than properties without staging. Therefore, if you had a property valued at £300K before staging, it is likely to sell for between £24,000 and £30,000 more once staged. *

Visual appeal matters

Most prospective buyers will not be able to imagine living in a home that’s empty or on the flip side, cluttered. If a property is vacant of furniture, or is not looking at its best, potential buyers will struggle to envision its full potential or imagine making the home their own. If buyers can’t picture themselves living in the property, they are unlikely to commit to buying it.

Selling more than just the property

When looking for their next potential home, prospective buyers will seek out a place that the reflects the lifestyle they aspire to, rather than the lifestyle they currently have. The type of property most people choose to buy and how much they are willing to pay is directly related to how good the property makes them feel when they browse through images and step inside. If the property represents a lifestyle that a buyer aspires for, then they’ll most likely be willing to pay more for it.

Playing to its strengths

Every property has its setbacks, which is why it’s important to highlight its key selling points until they overshadow any of the downsides. Staging focuses the eye and attention of the home’s strengths and detracts from anything that could be deemed unsightly. If a potential buyer falls in love with your home, they are likely to turn a blind eye to any minor repairs and improvements they’ll need to make once they move in. In an empty property, everything is on display and even minor defects can become a major sticking point.

Get ahead of competition

For every attractive home, there’s another one right around the corner, and staging could be the thing that sets yours apart from the rest. The first thing buyers do when looking for a home is browse properties online, and the listings with most attractive images will be the ones that garner the most clicks. If other properties in your area are on board with the concept of property staging and your listing photos haven’t been staged, your home could fall behind in the ranks as your property’s pictures may not match up to the same standard.

Hiring a property staging specialist will cost you short term but the profits will be abundant when your house is sold. Staging specialists can offer useful tips and advice on how best to prepare your home for sale, and can also help with other important details from clearing and decluttering, to moving furniture, and finishing with those all-important final touches for a viewing.

Looking for advice on selling your home? Get in touch today and let us help you.

How much has the market changed over the last 50 years?

It’s no secret that today’s property market is thriving at peak buoyancy, with record house prices and demand going through the roof, which is why it’s easy to overlook the history of the market which brought us to this point. However, while the market reaches a fruitful era for both buyers and sellers, there are notable periods of buoyancy over the last 50 years which could put things into further perspective.

While the market continues to change and grow in today’s climate, in order to look forward and predict future trends, it’s important to look back. New research from GetAgent tracked house price data going back as far as the 1970s, adjusting for inflation, to see which decade has been the most fruitful for the nation’s homeowners. *

The research delves back into January 2010, when the average UK house price was £167,469, and climbed to £231,792 by the end of the decade at a 38.4% increase. However, after adjusting for inflation, the rate of house price growth recorded between January 2010 and December 2019 sits at around 14.8%, which was the second lowest rate of house price growth in any of the past five decades.

In fact, it’s only been the 90s, when the market has posted the worst performance, with house prices increasing by just 9.7% after adjusting for inflation.

The noughties was by no means, a bad decade for homebuyers, but it still ranks just third where inflation-adjusted house price growth is concerned, with the average UK house price rising by a notable 66.8%.

The research placed the 70’s in second place of the ranking, with house prices climbing by 69.8% after adjusting for inflation, leaving the 80’s to be crowned the best decade to have bought a home.

After adjusting for inflation, the average UK house price was just £66,783 back in January 1980. By the end of the decade, the cost of buying bricks and mortar had climbed to £127,207, a 90.5% increase.

Colby Short, Co-founder and CEO of GetAgent.co.uk, commented: “There’s plenty of reasons why we may argue one decade was better than the rest, but when it comes to house price appreciation, the eighties takes it by some margin.”

"Even after adjusting for inflation, today’s generation of homebuyers may well find it unfathomable that the average home cost just shy of £67,000 back in 1980. So, while today’s buyers have had to contend with some of the lowest levels of housing affordability in history, they may well spare a thought for those who saw the cost of buying increase at such an alarming rate during their lifetime.”

"With the market currently running red hot and no end in sight despite the wider economic landscape, it will certainly be interesting to see where we finish by the end of this decade, and if the eighties will finally be relieved of the crown when it comes to the highest rate of house price appreciation in a single decade.”

Do you know how much you could achieve for your home? Book a valuation with our local experts today.

Looking to start up the Christmas festivities?

Nottingham Winter Wonderland is finally back for 2022, with even more added WOW factor...

Take your pick from a range of different activities including our observation wheel and our new sky skate ice path.

Book in advance to beat the queues and get access to everything you want!

Click here to read Looking to start up the Christmas festivities?.