June Newsletter - Property Market Springs Back To Action

In this month’s Coldwell Banker newsletter, we have put together a comprehensive selection of articles looking at the property market and how to make the most of the current increase in activity. We also have some more diverse content which should provide an entertaining read - we hope you enjoy.

Property Market Springs Back To Action

With an estimated £82 billion of property transactions on hold due to coronavirus, the Government announce in the middle of last month that operations could resume, with the appropriate measures in place, was welcome news to many.

The immediate effect of the reopening of the property market could be seen clearly on the property portals – with a distinct spike in searches for properties the day after restrictions were lifted. Rightmove recorded over 5 million visits on 13th May and reported that sales demand doubled from Tuesday (when restrictions were still in place) to Wednesday.

The spike in property searches can be attributed to the many people who have had to put their property search on hold due to coronavirus and are now looking to move quickly in order to avoid their own chain collapsing, or just to take advantage of current circumstances.

A shift in attitude is also noticeable in terms of the types of mortgage which are being searched for – with a move away from remortgage loans to purchase mortgages. Mortgage technology firm Twenty7Tec reported a 27% week-on-week increase on 17th May for the volume of searches being completed.

“We are starting to see significant volumes return to the market – with searches for purchase mortgages in particular rapidly gaining pace. Searches for purchases are now at 44 per cent of pre-lockdown highs, up from lows of 15.6 per cent in mid-April” explains James Tucker, chief executive of Twenty7Tec.

Miles Shipside, Rightmove director and housing market analyst, said: “The traditionally busy spring market was curtailed by lockdown, but we’re now seeing clear signs of returning momentum, with the existing desire to move now being supplemented by some people’s unhappiness with their lockdown home and surroundings.

“Some may be unable or unwilling to move now, but those who are ready to take the plunge have jumped immediately into action.

“Unique enquiries on property for sale doubled from the day before, though we expect consistent momentum to rebuild over several months rather than weeks.

“With no new seller asking price data it’s too early to comment on price movements, though high demand is needed to support a stable market.

“If there are attractive lower deposit mortgages available it would help sustain the recovery in activity. The industry has been caught by surprise, as we were all expecting the housing market to stay closed until at least June.”

Five Tips To Help You Start Cycling

Over the past couple of months, the popularity of cycling has increased exponentially – with exercise becoming ever more important, and cycling an accessible sport. We have put together some top tips to help you get on your bike, whether you are new to cycling or an experienced rider.

The Right Bike
It can be very tempting to find a bike online due to the price point being lower than in a physical shop, however buying a bike that is suitable and comfortable is key – otherwise, you simply wont have the inclination to use it. Using a cycling shop will give you access to expertise which should help you in finding the right fit for you, and encourage you to use your new piece of equipment.

Don’t Be Deflated
One of the relatively few things that can go wrong with a bicycle is if one of your tyres has a puncture whilst you are out on the road, therefore we would recommend that you learn how to fix a puncture as soon as you have your bike. You can find puncture repair kits online or in store for less than £10, and here is a handy guide explaining the process https://www.cyclescheme.co.uk/community/how-to/how-to-fix-a-puncture-2

Plan Your Route
It will be useful to know where you are going on your route, so that you don’t get lost and end up on a much longer outing than originally planned or come across any terrain that you aren’t prepared for. Plan your route online using google maps or something similar, and you will be able to prepare the perfect distance with not too much elevation – bridle paths and old railways lines converted to pathways are perfect for a casual outing.

Practice Makes Perfect
Although we often say “it’s just like riding a bike” for things which come naturally to us, a little bit of practice in the saddle will help you to be safer on two wheels. For example, remember to feather your front brake lightly in order to come to a stop, rather than using your rear brake to stop immediately, and when cornering lift up your inside knee and apply your weight to the outside of the bike for balance.

Stay Safe
The most important aspect of cycling, if you are on the road or otherwise, is to stay safe and ensure the safety of those around you also. Ensure that you adhere to the rules of the road, just as if you were in a car, and that those around you know your next action through signalling using your arms if you are turning left or right. Wear brightly coloured clothes so that you can be seen at all times and carry some identification, a phone and some petty cash on you just in case.

Returning To Work Safely - Some Top Tips

The latest updates from the government include a return to work strategy with steps for how to do this safely.

 

Understandably, many people have concerns about returning to work including travelling to and from workplaces. Each business is different and will require different adaptations to their operating procedures to facilitate a safe environment, but the same guiding principles will apply. That is to safeguard the health and well being of staff members and customers. Eight separate guides have been published by the government to support different types of businesses - these guides can be found here. We have summarised the 5 key points applicable to businesses returning to work below*:

1. Work from home if you can
The message continues to be to work from home where at all possible. However, it is acknowledged that not all businesses are able to operate from home. Businesses that have not been told to close by government are now able to go back to work. Employers should discuss operating procedures with their staff.

People should try to avoid public transport in their work commute. However, where this is not possible, you are asked to wear face masks where possible.

2. Covid-19 risk assessment
All employers need to carry out a Covid-19 risk assessment. This is in line with current health and safety employment and equalities legislation. The risk assessments should be undertaken in consultation with their workers or trade unions, to establish what guidelines to put in place. If possible, employers should publish the results of their risk assessments (all businesses with over 50 employees are expected to do so).

3. Maintain social distancing
Workspaces should be redesigned to respect the 2-metre social distancing guidelines. This can be achieved with staggered start times, one-way walking systems, and changing seating layouts. Designating specific entrances and exits can also minimise close contact.

4. Risk management where social distancing is not possible
It is acknowledged that not all workplaces will find it easy to manage social distancing at 2 metres apart. In this instance, employers should look into putting barriers in shared spaces, creating workplace shift patterns or fixed teams minimising the number of people in contact with one another, or ensuring colleagues are facing away from each other.

5. Reinforcing cleaning processes
Workspaces should be cleaned more often with extra attention to objects with high contact, such as door handles, and office equipment. Hand washing facilities and sanitising stations should be provided at entrances and exits.
For further information please head to the following website: https://www.gov.uk/guidance/working-safely-during-coronavirus-covid-19

 

*These key points have been taken from gov.uk guidance published on 11 May 2020

The Lettings Market Surges Upon Reopening

Due to the nature of lettings, the market tends to be much more agile and recover more quickly than its sales counterpart during times of instability and the market is once again showing its resilience as it surges following the lifting of lockdown restrictions.

Analysis of the largest property portals has shown that rental properties coming to the market has surged by up to 44% in some parts of the UK as landlords are keen to get their properties back onto the market. The research conducted by Howsy shows that the day after restrictions were eased the market jumped back into action, with London in particular seeing a huge increase in listing volumes.

Callum Brannan, founder and CEO of Howsy, said: “Many in the rental sector will be breathing a sigh of relief with such immediate green shoots of market activity returning to a number of cities following an ease in lockdown market restrictions.

“Of course, other pockets of the market will take longer to see this positive trend emerge as agents and landlords find their feet operationally.

“We’re certainly not out of the woods yet and the ongoing financial and health implications facing many tenants and landlords will continue to be an obstacle. However, now that we as an industry are able to facilitate them on a greater scale, we can at least start to rebuild momentum in the sector.

“Now, it’s vital that landlords receive the support and protection they need from us as an industry, to ensure confidence in their investment and to maintain a suitable level of rental stock to meet demand from tenants who rely on these homes in order to live.”

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

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 Keep Your Home Cool This Summer

Most of us spend the colder months of the year dreaming about the summer, but it can be easy to forget how inhospitable the heat can make your home.

Ensure you have all the fun in the sun with none of the discomfort with our guide to keeping your home cool this summer.

Use your windows and curtains
It’s a shame to shut all that natural light out of your house, but unfortunately it comes with a good deal of heat. Closing all your curtains or following the sun’s progression across your house will seriously lower the temperature.

However, as soon as the sun has gone down, we would recommend throwing open the curtains and windows so that you can let in as much of that cool evening air as possible.

Build a makeshift air con
Can’t afford the electric bill and initial cost of an air conditioning unit? You can create your own air con by placing ice/frozen ice packs in a washing up bowl. You can then place it at an angle in front of a regular fan, which will circulate cold air around the room.

Switch off the electrical appliances
Every single one of your appliances gives off heat whilst they are on. During the hottest hours of the day you should avoid using washing machines, dishwashers, hobs and ovens. Lighting should also be avoided when the sun goes down.

Drink plenty of water and eat cold
Staying hydrated and eating cold food like salad will help you to keep your body temperature down and avoids using any heat generating appliances.

Sleep on the lower floor
Have you ever headed upstairs when its sunny, only to find that the upper floors are far warmer than the lower floor? This is because heat always rises to the highest possible point. If you are struggling to sleep, ditch the sweltering upper floor and sleep downstairs – either on your couch or your airbed.

Insulate
You probably see a lot of advice articles recommending insulation for keeping your home warm in the summer, but did you know that it also keeps the heat out in the summer? If you don’t already have insulation in your home, it will practically pay for itself in the money saved on energy bills.

Holidays Cancelled? Enjoy the United Kingdom!

For many of us, we will have plans for holidays abroad which are now looking uncertain, and for others an overseas excursion will already have been cancelled. If you are looking to plan your next getaway, why not enjoy a ‘staycation’ here in the UK.

Oliver Dowden, the Culture Secretary, recently announced that holidays within the UK could return as soon as July in a move to boost the tourism sector and allow those who have already missed holidays to take a much-needed break.
“I would love to get the tourism sector up as quickly as we possibly can. We’ve set this very ambitious plan to try and get it up and running by the beginning of July,” he said.

There is also the potential addition of an extra UK bank holiday in October being explored by the government currently in order to account for the two weekends in May with bank holidays which were essentially negated due to coronavirus lockdown measures.

Last year a third of Brits chose to have a holiday in the UK over abroad thanks to the varied landscapes and exciting places to explore right on our own doorstep, so don’t consider holidaying in your home country as a hardship.

If you’re looking for a city break, then London is the obvious choice as it simply has so much to offer, however don’t discount other cities such as Bristol, Edinburgh or Cardiff for a city break as they all provide a distinctly different feel to one another and provide a chance to get to know somewhere new.

Perhaps you are looking for a more traditional seaside break, in which case the south coast of England is the obvious choice due to the more favourable climate and the truly stunning locations such as Brighton, Bournemouth and Cornwall. However, there are also hidden gems such as Nairn in Scotland which is a charming seaside resort and the better-known Rhossili Bay in Swansea which is known for its surfing.

Perhaps it is a touch of peace and quiet which you are seeking on your next holiday, and the Lake District offers this in abundance – known as England’s answer to the Italian Lakes, the vistas in the Lake District are awe-inspiring and the walks second-to-none. When it comes to picturesque landscapes, the Scottish Highlands offer some of the most rugged scenes and idyllic, isolated locations throughout the entirety of the UK – we would recommend basing yourself in Inverness as you are then driving or hiking distance to some of the most wonderful walks in all of Scotland. Wales is not to be forgotten, of course, as its green landscapes and rugged coastline provide plenty of opportunities for a relaxing break – and should you wish to build up a sweat then a trip up Mount Snowdon is just the ticket.

Update on Government Guidelines For Property

From May 13th 2020, the property market has been released from lockdown in order to allow for transactions to take place once more and this critical industry to restart. Of course, operations will be undertaken with strict social distancing guidelines in place in order to ensure the safety of all parties.

 

Housing Secretary Robert Jenrick explained “Our clear plan will enable people to move home safely, covering each aspect of the sales and letting process, from viewings to removals. This critical industry can now safely move forward, and those waiting patiently to move can now do so.”

As well as estate agencies being able to operate once more under new guidelines, the housebuilding sector was also gifted new measures to help it operate through the current period.

The Government guidelines can be seen in the bullet points below;

• Initial viewings should be done virtually wherever this is possible and property agents should help you to do this.
• All physical viewings should be limited to members of the same household and open house viewings should not take place.
• When physically viewing properties, where possible, you should avoid touching surfaces, wash your hands regularly, and bring your own hand sanitiser. The number of people on a viewing should be minimised to those from your household that absolutely have to be there. If you need to be accompanied by small children, you should try to keep them from touching surfaces and ensure they wash their hands regularly.
• If people are being shown around your current home, you should open all internal doors and ensure surfaces, such as door handles, are cleaned after each viewing with standard household cleaning products.
• As most people choose to, we recommend that you vacate your property whilst viewings are taking place in order to minimise your contact with those not in your household.
• Anyone involved in any aspect of the home moving process should practice social distancing in line with public health advice.
• When moving between properties, you and those in your household should try to do as much of the packing yourself as you can. Where this is not possible, you should speak to removal firms in advance. There is further advice about this below.
• If you are particularly worried about the risk of infection, then speak to the professionals involved, your landlord, estate agent or removers as they may be able to put in place extra measures.

David Cox, Chief Executive of ARLA Propertymark and Mark Hayward, Chief Executive of NAEA Propertymark commented:

 

“It’s great news for consumers and the industry that the housing market is being opened up and people can let, rent, buy and sell properties again. The new regulations provide clarity to agents and will allow them to deal with pent up demand from consumers. It’s also a step to reinvigorating the housing market and will be a boost to the economy.

"Safety, of course, will be paramount, and we would encourage everyone to ensure that they follow Government guidelines closely to protect others and themselves.”

5 Foods To Boost Your Health

We have rounded up some of the best foods for your health and immune system to get your diet right back on track, take a look at our top five below;

1) Turmeric
Do you eat much turmeric currently in your diet? Normally, this isn’t an ingredient that you would find in many recipes, however you should start to include this super spice into your meals as its antibacterial and medicinal properties are treasured in the far East. An easy addition into curried dishes and meats such as lamb, turmeric adds a nice warm element to a dish.

2) Green Tea
How many cups of tea or coffee do you consume on a daily basis? If you could swap those hot beverages out for green tea, then the difference to your body should be soon evident. Well-known for being an excellent source of antioxidants, having regular cups of green tea will help to boost your immune system and leave you feeling refreshed, with the added positive of cleansed and fresh skin.

3) Spirulina
A regular addition to most smoothies, spirulina not only adds a splash of colour, but also possesses many of its own health benefits outside of its aesthetic qualities. Spirulina is one of the richest sources of natural proteins and fatty acids, as well as being known to protect eyesight and boost immunity.

4) Oily Fish
Oily fish such as anchovies are rich in omega-3 which many studies have found to be beneficial to our mental health – perfect for lockdown and beyond where being cooped up may increase our anxieties. As well as being an aid to your mental health, oily fish is also rich in vitamin D which is vital for maintaining healthy bones, teeth and muscles.

5) Honey
A store-cupboard staple for many, honey may not seem like a key ingredient to boost your dietary system – however don’t underestimate this sweet treat. Honey is rich in iron, calcium and magnesium and slowly releases energy making it a perfect natural addition to your breakfast.

<span style="text-align: center; display: block; width: 100%;">St Patrick’s Parade </span>

Join us on our annual parade through the streets of London to celebrate all things Irish!

 

Sunday, March 15, 2020 at 12 PM

 

Click here to read <span style="text-align: center; display: block; width: 100%;">St Patrick’s Parade </span>.

<span style="font-family: Tahoma, Geneva;">Sell Your House, Step By Step</span>

Are you looking to sell? Sometimes it’s hard knowing where exactly to start. Our step by step guide might look like a lot of information but it can really be a good reference point to help you during this process.

1. Work on your finances
With our mortgage valuation tool you can get an estimate of your property's worth.

2. Choose your estate agent
You have options. Sell yourself or use local or online estate agents.

 

Do some research, compare estate agents by how quick they sell, how close they get to the asking price and how successful they are.

 

Agree on a fee, aim for 1% plus VAT for sole agent.

3. Get an energy performance certificate
You will need one to provide to potential buyers.

4. Decide how much
Get to know your local market as this will help you decide.

 

Get several valuations. You don’t need to go with the highest either.

 

Buyers like to negotiate so add a 5% or 10% to what you’re willing to accept.

5. Get a conveyancing solicitor
They handle the legal work.

 

Get an overview of how much conveyancing costs.

6. Fill out your paperwork
There is going to be a lot of it!

7. Accept an offer!
Congratulations, the estate agents legally must now pass all offers over to you.

Once you’re happy with the offer, formally accept.

8. Work on your draft contract
You and the buyer will have to negotiate-
• The length of time between exchange and completion.
• What fixtures and fittings will be including, and if they have a cost attached?
• Any survey discounts.

9. Contracts get exchanged
This is the process when you become legally committed to selling your property, and they become legally committed to buying from you.

 

When you sell the house, you are responsible for maintaining the property until the sale is fully complete.

10. Move out
It is less stressful to move out before the day of completion if possible.

 

Completion is when the property changes ownership. Once the keys have been handed over.

11. Pay of your mortgage

The mortgage company will have given you and the solicitor and outstanding amount for the day of completion.

 

Now the buyer has transferred the money that will essentially pay off the mortgage for you.

12. Settle with everyone
Once completion has been finalised, your conveyance solicitor will send you an overview covering all their costs, as well as outing the sale price.

 

If you’re buying and selling at the time, you can settle for both transactions at the same time.

 

There can sometimes be a small discrepancy and you may even get a little refund.

<span style="font-family: Tahoma, Geneva;">The Right Survey Could Save Money</span>

Buying a house can be an incredibly tense and stressful time. Falling in love with a property but not knowing how it is going to play out is often the situation for most buyers. Imagine falling in love with a beautiful Victorian house only to find out later down the line that there are major issues with the roof and require thousands of pounds worth of construction work. You would rather know this sooner rather than later. Getting the right survey could save you this stress but also a lot of money.

According to a study by Hillary, an interior specialist, more than two thirds of Britons don’t know what property surveys are available, never mind which ones are best. And it is leaving us around £3000 out of pocket from repairs, which isn’t ideal for anybody, never mind someone who has just bought a house. That money could be spent on something so much more worthwhile.

The study also asked 2,056 new British homeowners all about their buying experiences.

54% of people had uncertainty during the whole buying process,
62% didn’t know what surveys were available,
79% thought that one survey covered everything, and that isn’t the case.

What are the different survey options?

Home condition report, at around £250: This is the more basic and cheaper option. It is quite a short, surface level inspection that highlights the obvious defects. This report is good for someone whose property appears to be in good condition but would still benefit from being checked for hidden damp or structural movements.

Homebuyers report, at around £300: This survey is more suited for Victoria aged properties. This will mirror the home condition report but will include advice and maybe an independent valuation of the building. If after the report, the value given is less than what you offered, don’t worry. This doesn’t mean you should pull out of the sale. Speak with your surveyor about the potential problems and how much it will likely cost. Try and use this information to negotiate the price down. If the seller won’t budge, you then need to make the decision to proceed or withdraw; depending on the cost. Your surveyor will have experience with similar circumstances so use them to help you.

Building survey, at around £500: If you’re investing in a much older property then this survey is vital for you. It is also worth noting that if you’re planning on doing any construction work such as loft conversions or extensions then this one applies for you too. This survey looks in detail at the condition, defects and the possibility of extending. The surveyor will also be able to provide a cost of how to rectify any problems listed.

Another recommended report is a gas and electric survey. This is vital for properties older than 25 years and if there are bare wires visible. It is even more important if you are planning on renting the property out as you will legally need to provide these safety certificates.

You’re probably thinking all these extra costs sound intimidating, but just think it could seem a lot now, but in the long run it is the more cost-effective option.
 

<span style="text-align: center; display: block; width: 100%;">VIVA LAS VEGAN</span>

shimmy on down and buckle up for a five-course meal of Grand Canyon proportions. With shimmering entertainment, casino style games and straight-shooting cocktails, no-one will want to leave Las Vegas!

Click here to read <span style="text-align: center; display: block; width: 100%;">VIVA LAS VEGAN</span>.

<span style="text-align: center; display: block; width: 100%;">Craft beer Tasting Tour</span>

A superb tasting tour of some of the best brewery taprooms of Bermondsey's beer mile. Your guide will navigate you to four fantastic breweries, each with their own unique take on craft beer.

Click here to read <span style="text-align: center; display: block; width: 100%;">Craft beer Tasting Tour</span>.