Your April update with Oulsnam

EPC changes offer good opportunities for landlords

In a bid to combat climate change and reduce pressure on strained energy supplies, the government has recently announced new proposals on EPC ratings. The changes will require landlords to increase the energy efficiency of their properties to a C or above.

Improvements must be made by 2025 for new tenancies, or 2028 for existing tenancies. As a recent survey showed, 68% of landlords currently own rentals with D or below EPC ratings, which means most will need to act soon to avoid problems down the line.*

While increasing the energy efficiency of your properties can be a costly exercise, it’s also an opportunity to raise the value of your rentals and reduce bills for tenants. This, in turn, will make your lets more attractive to tenants, especially at a time of rising energy prices.

In addition, landlords looking to expand their portfolios may consider buying less efficient homes to upgrade the EPC rating and turn over a profit. If you own a property rated C or above, now is a great time to think about letting it.

However you intend to respond to the upcoming changes, we’re happy to discuss your options going forward.

Contact our team to discuss this further, or to arrange a lettings valuation.

*Landbay

How to speed up the purchase of your ideal home

Buying a home is a very exciting time, so it’s in everyone’s interest to speed up the process. There are specific steps you can take to steer things in the right direction!

Know your stuff

A house is likely to be the biggest purchase you'll ever make, which means certain legalities are involved. Getting your head around the key terms will help you communicate easily with estate agents and solicitors.

Who you work with is also very important. Ask friends and family to recommend trusted property professionals and removal companies to get your ducks in a row before you begin.

Organise your finances

Once you feel confident about progressing, it’s time to weigh up your options. Should you sell before you put in an offer? While you’ll be a chain-free buyer, you’ll have to factor in storage costs and rent while looking for your ideal home.

It’s also a good idea to talk to a mortgage expert to arrange an agreement in principle.

Communicate clearly

So, you’re ready to make an offer. If the seller accepts, arrange a date for exchanging contracts and communicate your requirements to your solicitor clearly, so everyone stays on the same page. On that note, make sure you respond quickly to any requests to prevent holdups.

Of course, you will need a trusted partner with expert local knowledge to help you sell your current home or buy a new one. That’s where we come in.

You can contact us to discuss your options, or head over to our website to explore our current properties.

Soaring demand continues to push rent prices higher

According to a recent market report by a well-known property portal, the current demand for rental homes is a staggering 76% higher than during the same period between 2018 and 2021. As demand continues to outweigh supply, we truly have a perfect storm that is, in turn, pushing up rent prices across the UK. *

Tenants can now expect to pay around £969 per month, which equates to an extra £744 per year compared to pre-pandemic prices.

With supply currently unable to meet demand, landlords are in a strong position and should remain so for the foreseeable future. Rental properties are only taking two weeks to let, making it easier than ever to attract the right tenant in a very short time frame.

Predictions show that rents will rise by 4.5% across the UK over the coming year, so if you’re thinking of letting your property, now is the perfect time to capitalise on the expected market growth.

Ready to discover how much you can secure for your rental? Book your valuation today.

* Zoopla

Is April still a good time to sell your home?

The predicted spike in buyer demand is getting into full swing. Spring has always been a great time to sell, as buyers look to settle into their new home in time for the summer.

According to recent data from a well-known property portal, valuation requests have shot up by 27% compared to the same period last year. While March lived up to its reputation as the strongest month for sales, April is a close second as buyers continue to compete for homes. *

If you’re hoping to sell, you may also be on the hunt for a new home. To land your dream home, it’s crucial to be able to make a serious offer. That means getting your property spruced up and ready for its time on the market.

Don’t forget that many buyers now prioritise outdoor space to enjoy in the warmer months, so if your home has got it, flaunt it!

Make sure you are prepared for your April sale by contacting our team of experts.

*Rightmove