Advice to help in your property journey!

Advice to help in your property journey!


Sales have been soaring at Holden Copley so first up this month we are pleased to share there is no end in sight for the sales market boom. If you have been thinking of making your next move its currently a great time to sell with plenty of potential buyers ready and waiting for their next property purchase. Get started with an instant online valuation on our website.

Elsewhere we share how to make your property stand out in a busy market, explore how house price growth has hit a four-year high, and finally how pricing your house correctly the first time could cause it to sell in half the time

Now we're moving into Autumn, make the most of some of Nottingham's upcoming events. Check out the Halloween Outdoor Cinema at Wollaton Hall or Nottingham's Poetry Festival, find out more towards the bottom of our newsletter. 

We hope you enjoy this months edition!


No end in sight for sales market boom

 
There are a number of key reasons that make October 2020 an exceptional time to begin your next property transaction. Here are just a few examples to take your pick from:
 
- Stamp duty savings worth up to £15,000
 
- Mortgage approvals and sales at a 13-year high
 
- 5% annual property price growth – as reported by Nationwide
 
- Buyers are keen to act immediately, leading to increased levels of accepted offers
 
 

Across the UK, many of us are experiencing restlessness with our living situations.
 
We’ve spent all summer cooped up, so it’s no wonder that as we head into October, we’re seeing a rising sentiment amongst buyers and sellers that now’s the time to take your property plans off pause and get moving again.
 
After their House Price Index revealed a four-year high price growth, Nationwide conducted further research to establish which regions are seeing the strongest levels of interest from Brits.
 
As the below research tells you, one in five homeowners (17.7%) are currently considering moving, with a further one in ten (9.9%) well on their way to completing on property transactions in 2020.
 
Table for homeowners who are either in the process of moving or are currently considering it as a result of the COVID-19 outbreak.
 
Region   Considering moving Moving
London 25%  17%
South West 21%  11%
West Midlands 20%  11%
East Midlands  23%  8%
South East  18%  9%
North West  16%  11%
Yorkshire and Humberside  18%  9%
East  14% 11%
Scotland  17%  7%
Wales  12%  10%
North East 11%  5%
 
 
With the market showing no signs of slowing down, what can you do to speed up your sale and ensure you are able to take full advantage of current market momentum?
 
An important part of the process is choosing who will represent your interests.
 
As the local property experts in your area, we’d hope you’d think of us first for your property interests, but there’s also the matter of finding the right solicitor or conveyancer.
Here are our tips for a seamless experience with your legal representative.
 
 

Respond quickly and clearly
 
We get it – receiving a request for different bits of paperwork can be off-putting.
 
After a long day at work, the last thing you’ll want to do is wade through files to find the right answers or items being asked for.
 
However, failing to respond promptly will only hurt your sale or purchase. Taking a week or two to respond can delay the whole process and risks pushing your transaction to the back of the line.
 
So, if at all possible, make sure you’re getting back to your solicitor within a couple of days.
 
 

Prepare before every call
 
There will be dozens of questions that occur to you along the way, so to maximise your time and build an efficient dialogue with your solicitor or conveyancer, prepare a list of questions before each phone call.
 
That way, you can avoid missing something crucial.
 
 

Be flexible
 
Having a fixed timeframe in your head can be a useful way to visualise and track your progress towards the finish line.
 
That said, it’s important to balance your wants and expectations with what is actually realistic.
 
A good agent will be able to help you determine this from the beginning.
 
For more information on how we help homeowners navigate the local market, contact us today for your valuation.
 
 
 
 



How to make your property stand out in a busy market

 
More new listings are coming onto the market now than at the start of the year. In the last month, there’s been an increase of 139% new properties when compared to pre-lockdown levels.*
 
Over 21,777 properties were put up for sale in September – with data available up to the 25th.
 
Whereas figures were relatively more modest in January and February, at 15,661 and 17,880 respectively.
 
With increasing competition on the market, how can you make your home stand out to buyers this season?

 
 
Emphasise your outdoor and indoor space

Properties with gardens are more desirable than ever.
 
If your home has this to offer, showcase it. Ensure that the grass is freshly mown, and any fallen leaves cleared away before viewings.
 
To help your property withstand winter weather, it’s also important to fix existing items in need of repair and to check your fences are sturdy. If you have time, a fresh coat of paint will also work wonders.
 
Another shift in buyers’ priorities is the need for a dedicated office space.
 
If you have a spare room that would be ideal for working, make sure that it is set up neatly to demonstrate its functionality.
 
 
 
Family areas
 
Communal spaces are a great selling point for a property.
 
Staging a large dining table in your kitchen area will show to a potential buyer that the property can accommodate gatherings with friends and family. Similarly, a living room with lots of seating will create a great social environment.
 
Having a messy kid’s bedroom can have a negative impact on your property’s sale value, apparently knocking off up to £8,000 according to ING Direct.
 
So, when it comes to preparing for property photos or viewings, it’s critical you cast your eye over every room first.
 
 
 
Keep it neutral
 
Whilst your personal style might give your property a unique character, not everyone will agree with your choices.
 
Experts claim that perceived bad taste can cause you to lose between five and ten per cent off the value of your home.
 
Before selling, consider stripping away some of your personal belongings and stick to neutral, non-offensive décor; giving your viewers a blank canvass to visualise seeing themselves living there.

 
To see what properties we’ve currently brought to market near you, browse our latest listings.

*Source: BriefYourMarket.com
 
 



House price growth hits four-year high - find out more 

 
Nationwide’s most recent House Price Index has uncovered a four-year high price growth in the UK – meaning that your home could be worth more than ever.
 
Analysis from their report shows that average property values grew by 5% annually in September and 0.9% monthly, taking the national average to £226,129.
 
This is the highest annual price growth we’ve seen since September 2016.
 
The South West was the strongest performing region (5.5%), closely followed by Outer Metropolitan (5%),
 
Outer South East (4.8%), Yorkshire and Humberside (4.6%) and London (4.4%) – which all made the top five in terms of price growth.
 
Average prices in the capital have now hit a record high of £480,857, which is 57% above their 2007 levels.
 
Meanwhile in the rest of the UK, price growth has been reported as follows: North (4.2%), East Midlands (4%), Wales (3.8%), West Midlands (3.1%), North West (3%) and East Anglia (2.7%).
 
Whilst all regions have shown an annual increase, the areas demonstrating the smallest growth percentage are Scotland and Northern Ireland at 2% and 1.5%, respectively.
 
 

What can we take away from these findings?
 
“Housing market activity has recovered strongly in recent months,” comments chief economist at Nationwide – Robert Gardner – who suggests that behavioural shifts are a key contributing factor as people reassess their housing needs in 2020.
 
Whilst Iain McKenzie, chief executive of The Guild of Property Professionals, claims that: “the current rise in housing prices shows a short-term spike with it returning to a more fluid marketplace in the next two or three months.
 
“The housing market has been resistant for a number of years despite having to contend with things such as Brexit and now the pandemic.”
 
For this reason, McKenzie predicts that although there will be bumps down the road, he suggest that “if there is a decline in the future, it will be a short decline and the market should bounce back very quickly because of positive consumer sentiment and pent-up demand."
 
 

Have you made the decision to sell your house this year?
 
During an updated market appraisal, we will assess how your home will perform on market, as well as what price you can realistically expect to achieve in light of recent demand and price growth.
 
For the full report, visit: www.nationwide.co.uk/about/house-price-index/headlines
 
 
 



Properties priced correctly sell in half the time

 
Rightmove have done extensive research into the effect that asking prices have on a property’s likeliness to sell.
 
Approximately 300,000 properties were brought onto the market this summer.
 
By September, 63% of properties that remained at the same price and hadn’t been reduced had reached Sold Subject to Contract (SSTC).
 
Whereas out of the 300,000 properties, only 32% of those that had come down in value had reached SSTC within that same timeframe.
 
This study confirms what we’ve long since known, that the asking price set for your home is a key determining factor in how it performs on the market.
 
When priced right the first time, Rightmove’s findings were that a house sold 26 days faster, on average.
 
 

As your leading local agents, we can ensure that your home is competitively priced.
 
Resident data expert at Rightmove – Tim Bannister – had the following to add: “This analysis shows just how vital it is that sellers listen to their agent when they recommend the asking price that the property should be listed at.
 
“If sellers are serious about selling, then starting with too high an asking price can cause unnecessary delays, and also make it a lot less likely they will actually find a buyer in the end.
 
“The temporary stamp duty holiday means more sellers are in a hurry to get a sale through conveyancing, and with this also taking longer at the minute a realistic asking price could soon end up being the difference between completing in time or losing out on the savings.”
 
 

Book your valuation today
 
We appreciate how demotivating it can be to experience delays when you’re excited to progress your property move.
 
That’s why our valuations take into consideration a number of different variables, such as the condition of your home and properties in your area, making us the experts who can confidently evaluate your home’s worth the first time.
 
 



Halloween Outdoor Cinema 

Halloween Week is coming to Nottingham with a host of classic and cult movies for you! Limited place are available so buy your tickets while you still can!

Click here to read Halloween Outdoor Cinema .



Nottingham Comedy Festival

The Nottingham Comedy Festival will be back for the 13th time between Friday the 6 and Saturday the 14th November.
 

Click here to read Nottingham Comedy Festival.



Nottingham Poetry Festival

Nottingham Poetry Festival will be launching from the 13th-22nd November. 
 
 

Click here to read Nottingham Poetry Festival.