Everything you need to know this September

Whittlesey Street, London, SE1 | £2,500,000

This delightful Regency home (1823) is located in Whittlesey street, Waterloo. One of Central London’s most desirable and recognisable streets.

Click here to read Whittlesey Street, London, SE1 | £2,500,000.

Wren House, 190 Strand, WC2R | £1,599,000

The largest one bed in 190 Strand at 1044 sq ft, comprising of a substantial double bedroom with walk in and built in floor to ceiling wardrobes...

Click here to read Wren House, 190 Strand, WC2R | £1,599,000.

Are we going to experience a crash in the housing market?

With house prices seeming to be coasting along a rising trajectory, it’s no wonder many are starting to assume that what goes up must come down. But should we expect the bottom to fall out of the housing market anytime soon?

A recent assessment by Zoopla showed that house prices and sale numbers are expected to continue slowing in 2022, partly due to the cost of living. However, high buyer demand is keeping the value of a typical UK house above the 5-year price rise average.

Lifestyle changes brought about by the pandemic explain some of this stability, with flexible working arrangements, early retirement, and changing priorities still encouraging people to move. Additionally, rising interest rates will prompt many approaching the end of a generous fixed term to lock in a lower mortgage rate by moving now.

Stricter rules around lending have also strengthened the price bubble, putting the market in a different position than when we last saw a crash during the 2008 financial crisis.

This is all excellent news for sellers, but is this slow-but-steady rise reflected in other areas than traditionally strong markets such as London and the South East?

Zoopla’s House Price Index does show that house values are evening up across the UK, with the biggest gains most apparent at the lower end of the market. Therefore, homeowners in hotspots like Wales, the South West, and the Midlands are also benefitting from the moving trends that have developed over the past few years.

Right now, the average UK house price stands at £256,600. However, certain cities and regions are seeing steeper increases, so booking a valuation is the only way to know exactly how much your home is worth.

Get in touch today to arrange a no-obligation valuation.

*Date based on Zoopla’s August 2022 House Price Index

How to determine the value of your property

In our experience, choosing an appropriate asking price can make the difference between your home achieving a fast sale and being left on the shelf, but getting this process right requires careful consideration and a deep understanding of local and national markets.

While it’s natural to try and squeeze as much as possible from your most valuable asset, you might find yourself waiting longer for a buyer than your competitors if you’re asking significantly more for your property than similar homes in the area.

On the other hand, we know that a lower asking price could result in you losing out – and may even leave viewers assuming there must be a reason your home is worth less.

Online browsers also might not see your listing in their search results if you’ve set the asking price slightly above or below the relevant price bands. For example, a buyer with a budget between £250–300K may not spot your £249,999 home because the filters tend to rise in increments of five, ten, twenty-five and fifty thousand pounds.

Luckily, property portals such as Zoopla and Rightmove can help you get a rough idea about the right price for your area. Both provide tools for checking how much homes have sold for in and around your postcode. You can even get an estimate based on your property’s previous sales history and current market data.

However, no online tool can factor in any improvements you’ve made since owning your home or judge its special features, history, or character. Lovely views and an exclusive setting could also up the value, so an in-person valuation is indispensable.

We’re always on hand to provide tailored advice so you can achieve the best possible result.

Want to find out how much your home is worth? Book a valuation with us today.

110% increase in renters aged between 55-64

While rising house prices have led many younger people to rent for longer before buying their first home, tenants aged over 35 are the fastest growing group.*

In the decade between 2011 and 2021, the number of households privately rented to those between 45 and 54 years old increased by 50%, while renters aged 65 plus rose by 38%. However, the biggest hike was seen in those aged between 55 and 64 (110%).

But, what’s driving this changing attitude towards homeownership in the older demographic? While owning property comes with perks such as security, the increasing state pension age and rising bills have encouraged many homeowners to free up equity to enjoy a better standard of living during their golden years.

Those wishing to move into a retirement community, may also benefit from assured tenancies, which partly replace the security of owning a home. This is because as long as these tenants stick to the terms, they can normally stay for life.

Those who’d like to enjoy communal gardens and facilities, without the upkeep, or who can no longer cope with maintaining or running their current property, may also be attracted to this type of lifestyle.

A strong rental sector is good news for landlords. If you’re interested in assessing the value of your rental, or would like it fully managed on your behalf, we can help.

*Data from Paragon Bank (England: 2011–22).

Top tips to improve the busiest room in your house

They say it’s the heart of the home – and we agree. It’s the natural gathering point for family and friends and a sanctuary of sensory pleasure for the cooks and bakers among us. We are, of course, talking about the humble kitchen.

Generously sized or compact, if your kitchen doesn’t work for your lifestyle, the flow of your whole home can suffer. A stylish, functional kitchen is also a big draw for buyers, so investing a little time or money here could pay dividends if you intend to move one day.

But where should you begin? Start by analysing the layout. Perhaps your kitchen is long and narrow, or an unusual shape. Also think about any chimney breasts, windows, or sloped ceilings that could be incorporated into the design, or may influence how you can organise the space.

Once you have assessed the room’s benefits and limitations, you could consider starting again from scratch by commissioning a bespoke kitchen designed around its natural features as well as your personality and needs.

For example, smaller kitchens might benefit from clever pull-out storage, while concealed appliances and bins could add serenity to a busy family kitchen. If your budget doesn’t stretch that far, you can still improve how the space is used by adding pan rails, extra shelving, a butcher’s block and storage solutions such as hooks and drawer organisers.

Other simple ways to improve your kitchen include painting the cupboards to contrast with your worktops or flooring, and installing a variety of lighting that works at different times of the day. While downlights are often popular, hanging pendant lights and table lamps can also create an inviting and sociable atmosphere.

For more advice about improving your home – especially if you intend to sell soon contact us for expert advice today.

Southbank Tower, 55 Upper Ground, London, SE1 | £1,400,000

A luxurious 2 bedroom, 2 bathroom apartment is available for sale. Located in the iconic Southbank Tower.

Click here to read Southbank Tower, 55 Upper Ground, London, SE1 | £1,400,000.

Southbank Tower, 55 Upper Ground, London, SE1 | £1,195,000

This luxurious 2 bedroom, 1 bathroom apartment encompasses a fully fitted impressive kitchen, with an open plan reception room

Click here to read Southbank Tower, 55 Upper Ground, London, SE1 | £1,195,000.

Southbank Tower, 55 Upper Ground, London, SE1 | £2,500,000

A luxurious 2 double bedrooms, 2 bathrooms (1 en-suite)apartment plus winter garden that can be used as a third bedroom or study or formal dining room enjoying commanding north views of the river from Southbank Tower is available for sale.

Click here to read Southbank Tower, 55 Upper Ground, London, SE1 | £2,500,000.