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Pygott & Crone Newsletter: Latest Property Market Updates
The property market has shown a great resurgence in the months after lockdown. The stamp duty holiday has certainly helped in the property demand across the nation. Our first article gives you some top tips for a stress-free moving experience this autumn.
As the property market is surging it presents an opportune moment to list your home for sale. Our next article shares the importance of getting your property priced correctly as it could mean selling in half the time. Not only should you ensure your property is the correct price but also how to make your property stand out in a busy market.
Towards the end of our newsletter we give you the latest guidance on lettings evictions this autumn giving you the most up to date changes and advice.
We hope you enjoy this months edition! If you have any property queries please do not hesitate to contact us.
Multiple gold awards won at the annual negotiator awards
We are delighted to announce that a very successful year for us has been recognised at the annual Negotiator Awards, the property event of the year. We were shortlisted in four categories and are delighted to have achieved three gold awards.
Click here to read Multiple gold awards won at the annual negotiator awards .
Aladdin
From now until Sunday 19 January
Performances at the Riverhead Theatre
Click here to read Aladdin.
Toy Collectors Fair
Sunday 26 January
Family friendly jam packed Toy collectors fair at the Epic Centre
Click here to read Toy Collectors Fair.
Dog Friendly Day
Saturday 8 February
Unlock 1,000 years of history with your furry companion at Lincoln Castle
Click here to read Dog Friendly Day.
Preparing your property for sale
With demand for property prior to lockdown soaring, there are sure to be plenty of motivated buyers waiting now that the property market restrictions are relaxed, therefore now is an ideal time to prepare your property for a quick sale.
Kerb appeal
As is always the case with selling properties, a first impression can make or break a sale with a poorly presented property often putting off buyers before they have even set foot in the home. In the summer this is especially important as buyers will often drive or walk past a property before they decide to book a viewing. With the summer sun shining a light on any less-than-perfect parts of the exterior of your property, you should ensure that flowers are planted, weeds are pruned and lawns are mowed. Extra attention to details, such as ensuring that the front door has been cleaned and the windows are streak-free will pay dividends in your selling process.
Accessories
A neutral interior will appeal to a mass market and increase the scope of your property in terms of potential buyers, but if you are looking to make the most of the summer then don’t be afraid of colour. Using accessories to add pops of colour around your home that reflect the brighter summer season – such as burnt orange and lemon – will make your property stand out from the crowd in those all-important photographs.
Lights
When we think of summer, we all first think of sunshine and brighter evenings – so make the most of this light when presenting your home for sale. Get rid of heavy curtains and dark blinds, which can make a room feel smaller and prevent the light from entering a room. Buyers want to feel that rooms are bright and spacious, so if at all possible have windows and doors open throughout the house to create a light, airy feeling (as well as bringing in those fresh summer scents).
Set dress
Set dressing refers to the arranging of a room or space in order to paint a picture of the kind of lifestyle which could be enjoyed in your property. Never is it more important to set dress your garden than throughout the summer months, with potential buyers wanting to know that they will be able to enjoy the outdoor space which your home provides. Tempt potential buyers by showing off your outdoor spaces with garden furniture, fire pits and barbecues.
Viewing times
During the summer months many people like to start work early and leave early in order to benefit from the longer evenings; make sure that you can accommodate as many viewings as possible by being flexible with your viewing times. Allowing people to view your home early in the morning, as well as in the afternoon will help bring more people through the door as well as showing off your property in favourable lighting.
How to make your own face mask
As the country enters the next stage of its strategy to ease the lockdown restrictions whilst preventing the spread of Coronavirus, the Government has issued new advice to the public on how to stay safe whilst in public spaces (such as shops and public transport). The Government has asked people to wear face masks to cover their nose and mouth where social distancing is not possible. This advice has been detailed in the Government Covid-19 recovery strategy, detailing its plans for lifting the UK out of lockdown; which can be viewed here.
To prevent any additional pressure to the NHS in obtaining crucial PPE supplies, the Government has issued instructions on how to make your own face mask at home, by simply using elastic bands and some cotton fabric or even just an old T-shirt. Your face mask should be worn so that you can breathe comfortably whilst covering your nose and mouth. You should sanitise or wash your hands before putting it on and taking it off, and you should wash your face mask regularly.
We share how to make your own face mask at home below*:
Making a face mask using an old T Shirt
You will need
• One old T-shirt that you no longer want
• Scissors
Method
Step 1: Cut a straight line across the width of the T-shirt (front and back) approximately 20cm from the bottom of the T-shirt.
Step 2: From a point 2cm below the top right-hand corner of the fabric, make a 15cm horizontal cut through both sides of the fabric that is parallel to the top of the rectangle.
Step 3: Cut down towards the bottom of the fabric until you reach approximately 2cm above the bottom edge. From here, make another 15cm cut that runs parallel to the bottom of the fabric to make a rectangle that can be discarded.
Step 4: To make the ties, cut open the edge of the 2 long strips of fabric. Unfold the main piece of fabric and place over the mouth and the nose. The 4 strips act as ties to hold the cloth face covering in place and should be tied behind the head and around the neck.
Making a face mask using a piece of cotton fabric
You will need
• two 25cm x 25cm squares of cotton fabric
• two 20cm pieces of elastic (or string or cloth strips)
• needle and thread
• scissors
Method
Step 1: Cut out two 25cm x 25cm squares of cotton fabric. Stack the 2 squares on top of each other.
Step 2: Fold over one side by 0.75cm and hem, then repeat on the opposite side. Make 2 channels by folding the double layer of fabric over 1.5cm along each side and stitching this down.
Step 3: Run a 20cm length of elastic (or string or cloth strip) through the wider hem on each side of the face covering. These will be the ear loops. Use a large needle to thread it through. Tie the ends tightly.
If you only have string, you can make the ties longer and tie the covering behind your head.
Step 4: Gently pull on the elastic so that the knots are tucked inside the hem. Gather the sides of the covering on the elastic and adjust so the covering fits your face. Then securely stitch the elastic in place to keep it from slipping. These elastic loops fit over the ears.*Our step by step guides have been taken from the Gov.uk website here
How to make your own face mask
As the country enters the next stage of its strategy to ease the lockdown restrictions whilst preventing the spread of Coronavirus, the Government has issued new advice to the public on how to stay safe whilst in public spaces (such as shops and pubic transport). The Government has asked people to wear face masks to cover their nose and mouth where social distancing is not possible. This advice has been detailed in the Government Covid-19 recovery strategy, detailing its plans for lifting the UK out of lockdown; which can be viewed here.
To prevent any additional pressure to the NHS in obtaining crucial PPE supplies, the Government has issued instructions on how to make your own face mask at home, by simply using elastic bands and some cotton fabric or even just an old T-shirt. Your face mask should be worn so that you can breathe comfortably whilst covering your nose and mouth. You should sanitise or wash your hands before putting it on and taking it off, and you should wash your face mask regularly.
We share how to make your own face mask at home below:
Making a face mask using an old T-shirt
You will need
- One old T-shirt that you no longer want
- Scissors
Method
Step 1: Cut a straight line across the width of the T-shirt (front and back) approximately 20cm from the bottom of the T-shirt.
Step 2: From a point 2cm below the top right-hand corner of the fabric, make a 15cm horizontal cut through both sides of the fabric that is parallel to the top of the rectangle.
Step 3: Cut down towards the bottom of the fabric until you reach approximately 2cm above the bottom edge. From here, make another 15cm cut that runs parallel to the bottom of the fabric to make a rectangle that can be discarded.
Step 4: To make the ties, cut open the edge of the 2 long strips of fabric. Unfold the main piece of fabric and place over the mouth and the nose. The 4 strips act as ties to hold the cloth face covering in place and should be tied behind the head and around the neck.
Making a face mask using a piece of cotton fabric
You will need
• two 25cm x 25cm squares of cotton fabric• two 20cm pieces of elastic (or string or cloth strips)• needle and thread• scissors
Method
Step 1: Cut out two 25cm x 25cm squares of cotton fabric. Stack the 2 squares on top of each other.
Step 2: Fold over one side by 0.75cm and hem, then repeat on the opposite side. Make 2 channels by folding the double layer of fabric over 1.5cm along each side and stitching this down.
Step 3: Run a 20cm length of elastic (or string or cloth strip) through the wider hem on each side of the face covering. These will be the ear loops. Use a large needle to thread it through. Tie the ends tightly.
If you only have string, you can make the ties longer and tie the covering behind your head.
Step 4: Gently pull on the elastic so that the knots are tucked inside the hem. Gather the sides of the covering on the elastic and adjust so the covering fits your face. Then securely stitch the elastic in place to keep it from slipping. These elastic loops fit over the ears.*Our step by step guides have been taken from the Gov.uk website here
Are you asking these key questions when you buy or sell?
A recent study has revealed the 'most dreaded' and unusual questions buyers have asked about a property before putting in an offer.
With a small minority asking whether the pets come included in the sale, it’s fair to say that not all of the responses are winners.
However, the report by Hillarys has shed light on just how many Brits lack proper preparation during the home buying process.
Up to two-thirds will not plan their questions ahead of a house viewing, meaning they are not getting the full value out of the experience, as well as potentially wasting an opportunity to find out all of the property’s pros and cons earlier on.
The most dreaded questions from buyers:
Has it dropped in value? 54%What local plans could affect us? 42%What’s the lowest price we could get it for? 33%Is the seller in a chain? 21% To help you make the most of your viewings the next time you decide to buy or sell, we thought we'd share practical suggestions for you to consider. What are some of the more serious questions you should be asking?Whether you're instructing an agent or viewing a property, how prepared you are will determine how quickly you're able to move.Are you asking these key questions:1. Exactly what is included in the sale? Whilst it's safe to assume most sellers will want to keep their pets, it's important to outline what content might be included, such as fixtures, fittings and garden furniture.2. How long has it been on the market and how many offers have they received so far?3. When are the sellers looking to move out? Knowing whether they've already found another home or they're still in the midst of looking will help you to determine how long the process may take and how much room for uncertainty there is.4. Have there been recent renovations or any difficulties with boilers, drains and guttering?5. How did the agent decide on an asking price? Good agents will be able to provide justifications for the value of a property, so you'll know whether it's listed at the right amount or if it's overpriced. What to ask when selling:1. How will you market my property? Are they regularly contacting a database of suitable applicants to give you greater market exposure, or does their strategy start and end with a basic Rightmove listing?2. What are your success metrics and how do they compare to other agents? In other words, what's their experience selling a home like yours at a price like yours?3. How much will you charge? Choosing the agent who offers the lowest fees won't guarantee you reach asking price and you may lose time and money on the market, be savvy when you instruct representation for your property investments.4. What are the contract terms? Before beginning any contractual relationship, know exactly what it is you should expect from them.If you're thinking of selling and want to find out the value of your home, contact us.
Market your house correctly for a speedy, seasonal sale
The property market has continued to experience remarkable levels of activity.
In the first week of August, properties at SSTC (Sold Subject to Contract) were almost at double their number compared to figures from the same period in 2019. This indicates a significant release of pent-up demand due to lockdown.
If you, like a lot of homeowners right now, are considering putting your property on the market, here are some of the ways to market your house well to potential buyers.
Make sure your property images are professional
In order to get viewings, you need to reel them in with your property advert.
Make sure your photos are clear and focused. If it is a cloudy day, see if you can rearrange the shoot. There is nothing nicer than a clear blue sky!
Increase your kerb appeal
It takes just seven seconds for somebody to make their first impression of your property, so make sure your property’s exterior is the best it can be. You want them to walk down the drive feeling impressed and excited to go inside.
Some easy ways to do this is to give your front door or fencing a fresh lick of paint, put up some hanging baskets to add colour, pull out any weeds, move the bins out of sight and make sure the lawn is mowed.
De-clutter
The hallway is famous for housing plenty of clutter: shoes, coats, handbags. Make sure everything that can be put away is tucked out of sight to make it appear more spacious.
As some hallways can be dark and narrow, adding a mirror to a wall can give the illusion of space and can also brighten it up.
A kitchen is a big selling point, so make sure all desktops are wiped down and free of clutter.
Give your viewers space
Let your viewers freely wander around your home with the agent.
This will make them feel much more comfortable asking questions and it also means they might take their time in each room.
Be ready to answer any questions after the viewing. Also be sure to leave hand sanitiser dotted around your property, so not only you but also your viewers will feel comfortable.
Make the most of outdoor space
Since lockdown, we have noticed a real shift in property priorities.
Everybody is putting outdoor space at the top of their agendas, so make sure your garden is well showcased.
If this is an impromptu house viewing, you might not have time to lay a new flower bed, but make sure the lawn is freshly mown, trees and shrubs are cut back to create more space, weeds are removed, and outside furniture is laid out nicely.
Five top tips for a stress-free moving experience
Buying a new property has the potential to be stressful, and we get it! To help you out, we have put together this guide of helpful tips, based on real buyers’ experiences.
1. Planning
It might seem obvious, but lack of preparation can be the biggest hurdle for homeowners and buyers, with two-thirds of viewers forgetting to bring pre-prepared questions when taking a look around a new property.
Put together a criteria of your non-negotiables and the features or items that you’re willing to compromise on, and make sure you’re spending your time wisely. A thorough search online will give you a good starting point finding suitable properties, but you can also reach out to agents directly, as they may have similar properties you’ve overlooked.
2. Understanding the process
Next, it’s about ensuring you have set realistic time expectations and have set aside the required amount needed for the deposit.
Not everything will go according to plan every time, so make sure you’re aware of potential blockers that could get in your way.
Market conditions are strong right now, but for buyers to take full advantage of the recently announced stamp duty holiday, they need to be going through the process right now, as increased demand could mean you face delays further down the line.
Likewise, you don’t want to under-plan for your budget. Take into consideration average fees for surveyors and conveyancers so you don’t overstretch yourself.
3. Build connections
Another great idea is to get to know the seller and their agent, as this has the potential to make them favour you as a trusted buyer.
Similarly, talking to neighbours when viewing a property is invaluable. You can obtain information about the local area, as well as inside knowledge about potential problems about the property.
Along the same lines, checking local broadband speeds, phone signal and parking permits is a great way to be prepared prior to your moving date.
4. Preparing your own sale
If you’re looking for a quick sale, staging your house correctly is extremely important.
Freshening up paintwork and completing any repairs or improvements will add tremendous value to your home.
Well-staged homes have been proven to sell for higher prices than for those that are not. So before having your house photographed, make sure each room is captured in its best light, and avoid having any seasonal decorations up, as this could date your listing.
5. Moving in 2020
Since the market reopened, we’ve seen phenomenal levels of activity as those living under lockdown rush to buy somewhere with more space, a bigger garden and an office.
The best way to reduce stress when buying or selling this year is to make sure you’re completely comfortable with the pandemic measures that have been put in place by agents.
This includes any measures to limit human contact, as well as remote processes and online marketing strategies to reduce the number of people meeting you in-person.
To find out how we’re safely conducting sales and lets this month, contact us.
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.
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
The latest guidance on lettings evictions this autumn
Although the ban on evictions has now been lifted, there are certain measures and restrictions in place to protect tenants as we head into winter.
Find out what’s changed for landlords, tenants and the UK rental sector.
From a recent survey, 12.5% of tenants reported that they had either missed rental payments or made alternative arrangements, with an additional 12% of respondents concerned about their ability to keep up with rent in the future.*
Notice periods
To recap on what’s been put in place so far, six-month notice periods will give tenants who are served notice the added security of having somewhere to live whilst they seek alternative accommodation or financial support.
These extended notice periods will be in place until March next year, except in extenuating circumstances where a landlord may seek possession sooner, including for anti-social behaviour or rent arrears that pre-date lockdown.
Now that repossession cases can be brought to court again, landlords and tenants should take it under advisement to establish a resolution privately – if at all possible – as cases are prioritised by level of urgency to manage the court’s backlog and this may delay the ability to come to an agreement.
For landlords, it’s also important to note that when making your case, you will need to disclose your tenants’ financial situation and whether they’ve been affected by the pandemic, as this will be a key consideration.
The government’s Christmas evictions truce
Dates have been announced by the government to prevent tenancy evictions over the holidays, meaning that bailiffs cannot be instructed to help landlords regain possession between December 11th and January 11th.
There will also be further guidance issued to bailiffs, preventing action to be taken where local lockdowns are currently in force.
Concerns from the lettings sector
Policy and Campaigns Manager at ARLA Propertymark – Timothy Douglas – has commented that over the past few weeks, the government have not been clear when providing updates on eviction processes but have instead drip-fed information to the public.
As a result, this has made it very difficult to respond and plan ahead, with Douglas further stating that the UK government are introducing measures that are difficult to implement; especially when faced with rapidly changing local lockdowns.
If you’re a tenant or landlord looking for clarity on how this could affect you, please contact us directly.
*Source: Goodlord survey, Letting Agent Today
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