Keeping you up to date in January

Why January is a great time to sell

It’s a common misconception that market activity lulls in January, ready to resume in the spring. But with demand levels still on the rise, this couldn’t be more wrong for 2022 predictions.

Many see the new year as a chance for a fresh start, and that can mean homeowners are on the hunt to physically change or improve their surroundings.

The number of people window-shopping on Rightmove following Boxing Day last year was 50% higher than the year before.*

To help you decide whether to take action, here are some of the top reasons why you couldn’t pick a better month than January to sell.

People are on the move

Statistics indicate that January is the busiest time of the year for employee redistribution or staff members moving around.

With many of us spending Christmas at home, it can be the final push needed for first-time buyers looking to move out or a household to decide they need somewhere with more space for the year ahead.

There is less competition

After the holiday season has come to an end, conditions are optimal for serious sellers, as many homeowners tend to take their time listing their property.

This means that you could get ahead of the competition and really stand out on the market.

Show off your home

Intelligent buyers house hunt in winter, as properties tend to look their worst in these months.

So, if your home looks spectacular and is well presented by your agent, then it will impress viewers as they will assume your property looks even better in the summer! This mentality will draw in potential buyers.

Placing your home on the market in January shows confidence in your home – a fantastic starting point in convincing people to buy the property.

If you are looking to take advantage of the lucrative new year market, please book your valuation today.

*Rightmove

Market predictions for the new year

Market predictions for the new year

The trio of low mortgage rates, the stamp duty holiday and changes in buyers’ priorities have all contributed to the incredible demand within the housing market in 2021. That is why we’ve managed to see an incredible leap of 30% in buyer interest across the five-year average.*

With the new year here, we explore a few factors that are in store for the property market for 2022.

1. The return of first-time buyers

Whilst the demand is there, the range of buyers has changed.

At the start of the pandemic, most buyers were in the wealthier bracket of society and owned higher valued properties. Now that we’re seeing an improvement in mortgage affordability, the door has opened back up to first-time buyers!

If you’re a first-time buyer, we don’t expect the market to slow down anytime soon, so you’ll need to ensure you’re prepared to move quicker than normal when you find a property you like.

A good way to stay ahead of the game is by getting a mortgage in principle before you start house hunting.

Mortgage in principle (MIP) = this is a statement from a lender that they would lend you a certain amount and can assure a seller of your financial standing.

2. Race for space continues

Another domino effect from the pandemic is how homeowners began to prioritise space as one of their main needs in a property.

The combination of being cooped up inside, as well as businesses moving to remote working meant that people naturally discovered how much they valued space.

If you’re thinking of moving to find a property with more room, the time is now to get a move on with the process – especially with demand being high and surpassing supply.

Stay one step ahead of the game and book your up-to-date property valuation with us this month.

Property prices likely to continue rising

After the roller-coaster year of 2020, 2021 was a difficult year to predict in the housing sector. With a return of stability to the market, we can look at the forecast for the new year.

More than 22% of homeowners plan to move in the next 18 months, due to direct results of the pandemic. In a recent survey, it has been revealed that those most likely to move were younger people who live in cities, suburbs or large towns, and those who have had working patterns shift from COVID-19.*

According to Zoopla, the main drivers for the sector will be “an ongoing re-evaluation of housing needs, increased housing equity and moves in parts of the labour force to more hybrid working.”

The portal forecast a 3% increase in house prices across the UK in the next 12 months, which is predicted to affect around 1.2 million property transactions.

With the expected house price gains, it is likely that we are going to see more sellers coming to market in the coming months, but a continued low supply will support price inflation.

Housing remains affordable in many markets and competition with mortgage lenders will keep rates low, leading to a sturdy appetite in the sector for 2022.

There will always be waves of demand across the country, with the biggest price increase expected to continue in the North West’s flourishing market at +4%.

Zoopla has also suggested that because mortgage rates are at a record low of 0.1%, buyers are becoming accustomed to these low rates. It has been predicted that rates will reach an average of 3% by the end of 2022, giving buyers a push to act sooner rather than later to secure cheaper borrowing conditions.

If you are looking to take advantage of current property conditions, book your valuation now and put yourself in a good position for 2022.

*Zoopla

Surge in parents acquiring buy-to-lets for students

Surge in parents acquiring buy-to-lets for students

Going to university is a big step and the hardest part can be finding the right accommodation. It was very popular at one time for parents to buy property for their children to use whilst studying away from home.

Over time, this became less common as more student accommodation blocks were built and heavy-duty buy-to-let regulations and reductions in tax breaks came into play.

What’s interesting is that we are now seeing a resurgence, with 66% of parents thinking of purchasing a buy-to-let property to help their children financially.*

Is it reliable to purchase a buy-to-let right now?

Yes! Whilst there are changes to the stamp duty tax, it’s an effective way of pulling through some extra income throughout the year.

Rent collection is an example of the short-term benefit, but the long-term benefit is the potential to gain further profit from your investment over time.

However, not all households have the disposable income to acquire a new property, which is why 53% of the 2,000 homeowners who took place in the survey said they’d consider downsizing to help their children at university.

What sort of property should I choose?

It’s entirely dependent on your financial situation, as well as what you think will pay off in the long run.

Location is also paramount. Choosing somewhere that’s near the campus as well as local amenities such as shops and bars will mean that your child’s quality of life won’t suffer.

When it comes to buy-to-let properties, there are some rules and restrictions to keep a close eye on.

If you’re reading this and thinking of going down this route, please get in contact with our team so we can make sure you’re fully informed before making any decisions.

*Letting Agent Today

The key home trends for 2022

With 2022 here, you might already be thinking about home improvements, whether that’s re-decorating a room, renovating a property or simply wanting to add some finishing touches to a space in your home.

In order to plan ahead, we’ve put together some of the key interior home trends that have emerged out of 2021 and what we think you’ll begin to see in the following few months.

Top trends of 2021

Looking back over this year, we saw many choose to add eye-catching furniture and bold murals, as well as snippets of more traditional materials like gingham and linen.

Going bold

With countless lockdowns, many of us were bored of being boring and wanted to bring the brightness inside.

Bold colours, feature walls, textured walls and neon lightings were all popular choices, adding a pop of colour to bring our homes to life.

Panelling

One of the biggest trends to make its way through 2021 was adding panelling walls, giving a more traditional charm to rooms.

Using architectural panels helps featureless walls stand out from the rest in a subtle yet stylish way.

Bringing the outside in

We filled our homes with plants and gave our furniture a natural makeover.

In came more natural materials, including bamboo, wicker, rattan and cane, with many favouring bringing outside elements into their homes.

Emerging trends for 2022

With sustainability a high focus at the end of 2021, it’s no doubt that this will run into 2022 and is reflected in our behaviour and elements when looking to decorate our homes.

Italian icons

Marble and granite were the standout surfaces of choice for 2021, but in 2022, terrazzo has seen a surge in demand, predicted to be hot next year.

Black accents

A great way of adding edge and depth to minimal spaces is black accents and hardware.

Choosing light and neutral colours for the main elements of your space and then adding black to certain features such as lamps, handles, radiators and tables is a great way of adding contrast to space.

More vintage than ever

With many shifting their focus to the environment, vintage finds are a greener choice.

Not only is shopping vintage a more efficient and sustainable option, but they can add personality to your home too.

Looking to make a change this year?

There’s no doubt that all the trends we’ve seen over the past year and those to come are great ways of bringing spaces to life, but it’s clear that the environment and sustainability will play a huge part in people’s decisions and choices in 2022.

Have you been thinking about moving house? Contact us to get started.

Property searches often spike in January

Property searches often spike in January

Christmas is the time for overindulging, spending time with family and watching all the classics.

As we head into the New Year, we've always found a renewed interest from homeowners and tenants, with enquiries and property searches at an all-time high.

We've all spent more time than ever at home in 2021, so you might find yourself planning what your 2022 Christmas could look like and whether you'd like to spend it living elsewhere.

Whilst it's commonly believed that spring and summer see the strongest market activity, year-after-year January has stood out as a time when online searches peak and more people are ready to make and accept offers in a fast timeframe.

Who chooses to move at this time of the year?

The new year property market usually consists of two types of people: first-time buyers and those re-entering the market after trying in the previous year.

In the spring and summer, the market typically becomes much more competitive, with higher supply levels.

If you want a fresh start in 2022, start the process now by instructing your agent, planning your property marketing strategy and taking advantage of the surge in buyer interest.

Whilst we all hoped the pandemic would be contained within 2021, it's now a confirmed reality that it will continue into 2022.

For that reason, we're committed to continuing all of the safe measures and social distancing practices we've implemented this year.

To make your home extremely visible on the property market over the New Year period, contact our agency today – visit our website for more information.

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