PygottandCrone

Pygott & Crone Newsletter: Latest Property Market Updates

In this months edition of the Pygott & Crone newsletter, we're pleased to say a third of homes in spring sold over their asking price, as the demand for new properties continues to rise.

More than a quarter of UK renters and homeowners have confirmed their priorities have now changed since the pandemic began, we explore five in-demand factors buyers are now looking for.

Further, into our newsletter, demand for rental properties has reached a new high as the lettings market sees a record-breaking number of new enquiries from prospective tenants.

Finally, as intense activity in the market continues, we explore the outlook for the housing market over the next few month's.

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.

Restrictions abroad are being lifted

Rental market in prime position to bounce back

Create your own vegetable patch

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

Preparing your property for sale

Restrictions abroad are being lifted

Rental market in prime position to bounceback

Create your own vegetable patch

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.

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.

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

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.

How to market your house correctly for a speedy seasonal sale

Managing the rental bounce and your mandatory electrical checks

How your garden can add value to your property

Property market surges post lockdown

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.

Managing the rental bounce and your mandatory electrical safety checks

How your garden can add value to your property

Property market surges post lockdown

Are you asking these key questions when you buy or sell?

From your oven to your bathroom, if you love to take pride in your home, you’ll want to know all the cleaning tricks and hacks to keep your home sparkling for a fraction of the cost.

Plenty of natural, cheap and quick cleaning tips from tin foil to vinegar and lemons can be used to save you time and money, making it even easier when you need to prepare your property for guests or even potential viewers who are interested in making an offer.

Cleaning tips for bathrooms

Tip number 1 

Clean your bath with a grapefruit!

Get rid of water marks or stains in your bathtub by cutting a grapefruit in half, sprinkle on some rock salt and give it a good scrub, then rinse.

Tip number 2

Removing limescale from your shower using vinegar.

If you’re looking for a more natural way to clean your home from top to bottom, vinegar is your new best friend!

Soak your shower head in a mixture of boiling water and vinegar to unclog any limescale easily.

Tip number 3

Use an old toothbrush for cleaning your bathroom.

Don’t throw away your old toothbrush as it can be very useful!

Give it a rinse in boiling water to get rid of any germs and use it to get into any nooks and crannies that your vacuum cleaner can’t reach. It’s especially handy for cleaning hard to reach areas like around the tap or drain.

Tip number 4

Clean your toilet stains with coke.

Get a grubby toilet back to sparkling white by pouring in a can of coke.

Let it sit in the bowl overnight, give it a good scrub with the brush and then flush the next morning for a new sparkling loo!

Tip number 5

Unclog drains with baking soda.

Pour down the drain one part baking soda followed by one part vinegar then cover with a wet cloth. 

The two elements will react with one another to clean your drain naturally. Wait five minutes and then run some hot water to rinse.

Cleaning tips for kitchens

Tip number 6

Clean your chopping board with lemon.

Our chopping boards get a lot of use from meat joints to fruit and vegetables, so it’s no wonder they end up looking a bit tired and worn.

Lemons are great to lift stains as well as removing any smells. Still not shifting? Then try sprinkling some baking soda and repeat.

Tip number 7

Pop a lemon in your fridge.

Cut a lemon in half and put one on the top shelf and one on the bottom to mask any strong smells in your fridge.

Tip number 8

Remove limescale from your iron.

Keep your iron working well by removing excess limescale from time to time. 

Simply heat up, unplug and let it cool. Fill with one part vinegar to one part water. Leave for an hour then empty and rinse.

Tip number 9

Use a pastry brush to clean crumbs out of your toaster.

Unplug your toaster and sweep those hard to reach crumbs and burnt bits with a pastry brush. This will help your toaster last longer.

Tip number 10

Clean your washing machine with vinegar.

Place the empty washing machine on a hot cycle with one cup of vinegar inside. This will help remove limescale and mildew, making the machine last longer and clean more efficiently, plus smell amazing! 

Tip number 11

Use a fabric softener sheet to stop your bin smelling.

There’s nothing more frustrating after you’ve emptied the bin than to find a lingering smell. Pop a fabric softener sheet into it for an instant air freshener.

Tip number 12

Clean your oven with tin foil.

Pop some oven cleaner or fairy liquid to the oven and scrub the fat and grime away!

For more information on maintaining your property, talk to us today.

A third of homes sell for over the asking price

One in three properties sold for more than the original asking price in April.*

This has put homeowners looking to move in a better position than ever. What could it mean for you?

Here are a few top tips for selling your home this summer:

1. First impressions count

Don’t underestimate the impact that kerb appeal has on potential buyers.

A survey conducted by YouGov stated that well-maintained windows, front gardens and pathways can be the key to a quick sale.

2. Update the kitchen

The kitchen is the most valuable room in the house.

A bright spacious kitchen can be attractive to potential buyers.

A fresh coat of paint and removing any bulky appliances before viewings can make all the difference in creating a clean and spacious look.

3. Light and airy

Putting up mirrors in your home can make a room seem much larger and brighter.

Putting lamps in any dark corners will brighten up the room and create a warm glow that is inviting to potential buyers.

*Property Reporter

Five in-demand factors buyers are now looking for

Working and spending more time at home has caused significant changes to people’s property needs.

More than a quarter of the UK’s renters and homeowners (26%) have found that their property needs have changed since the outbreak of COVID-19.*

What are the key changes likely to stay on the priority list now restrictions are easing?

Gardens

Lockdown has caused a general desire for more space, meaning that many of us are seeking homes near public gardens or green areas.

Unsurprisingly, the demand for gardens has also increased by 74% worldwide, with UK buyers making it a top property feature to look out for.

Accessible Wi-Fi

Zoom and facetime have become the key to keeping in touch with loved ones, as well as playing an important role in remote working practices.

This means that having fast internet is essential for those looking to buy.

Natural lighting

Being confined to our homes throughout lockdown has given people a craving to create open, natural spaces inside.

Velux windows have increased in popularity due to the natural light and improved air quality they provide, whilst high ceilings also give a sense of greater space, and have seen higher search volumes of 15% over the pandemic.*

Home gyms

Lockdown has encouraged people to become more active in their spare time by taking up running and cycling where gyms have otherwise been forced to close.

Whilst sporting and leisure facilities have now opened up again, there's still a hesitancy from some previous members about when it is safe to return, making a home gym a staple feature of any home to attract attention from buyers.

Views

Having beautiful views is a big selling point, with balconies also increasingly more desirable now.

If you've been holding off on your next move, we'd like to extend our support. Contact us today.

*Wayhome

Demand for rental properties has reached new heights

In April, the lettings market saw a record-breaking number of enquiries from new prospective tenants, and the demand shows no signs of slowing down now we've reached summer!*

The average rent of a newly let property outside of London is 8% higher than in February last year, which equates to £68 more per month.

This increase in demand for rental properties has been influenced by the pandemic, as potential buyers have either delayed their plans due to their financial stability or concerns.

Furthermore, as the furlough scheme is relatively new, lenders tend to be reluctant to provide mortgages to applicants where their employment status is changing or uncertain, meaning that renting may be a more viable option for those still out of work.

Rent prices

 67 per cent of agents said they saw landlords increasing rent over the last 12 months. This figure has doubled since 2019.

At the same time, the number of tenants able to get a rent reduction decreased by 1.7% – the lowest recorded number since January 2020.

Selling up

The number of landlords selling their buy-to-let properties has decreased year-on-year.

With the market booming, this has remained consistent over the last seven months.

If you're looking for a lettings valuation of your property click here or need help managing your portfolio, contact us for more information here.

*Propertymark’s latest private rented sector report

What is the outlook for the housing market?

Compared to this time last year, the value of homes being sold in the UK has practically doubled in the first 15 weeks.

During this period, around £149 billion pounds worth of property transactions have taken place, with industry sources predicting this to climb even higher for the rest of 2021.*

How busy is the housing market to date?

Intense activity has led to there not being enough available homes on the market to keep up with demand, with supply in April nearly 30% below the levels recorded in 2017 and 2019.

How has this affected house prices?

Annual house price growth was at 4% in March, nearly double the 2.1% recorded for the same period last year.

The greatest increases have been seen in the northern regions, in particular: Manchester and Liverpool at 6.5% and 6.3%, closely followed by Leeds, Nottingham and Sheffield with a 5% increase.

However, in London – which is the region with the highest average house price – annual growth was only 2%.

What could this mean for you?

With the search for space remaining a top priority, three and four-bedroom homes are in high demand, with many being sold over their asking price.

This means that homeowners selling a family home have been in a prime position to receive offers in record time, often leading to a shortage of choice for those still looking to buy.

Are you on the lookout for a new property, or just curious to see how much your home could be worth?

Get in touch with a member of our team who will be happy to assist you further here.

*Zoopla