Your Christmas newsletter with Oulsnam

Market predictions for the New Year

 

Market predictions for the new year

 

The trio of low mortgage rates, the stamp duty holiday and changes in buyers’ priorities have all contributed to the incredible demand within the housing market in 2021. That is why we’ve managed to see an incredible leap of 30% in buyer interest across the five-year average.*

 

As the new year draws closer, we explore a few factors that are in store for the property market for 2022.

 

1. The return of first-time buyers

 

Whilst the demand is there, the range of buyers has changed.

 

At the start of the pandemic, most buyers were in the wealthier bracket of society and owned higher valued properties. Now that we’re seeing an improvement in mortgage affordability, the door has opened back up to first-time buyers!

 

If you’re a first-time buyer, we don’t expect the market to slow down anytime soon, so you’ll need to ensure you’re prepared to move quicker than normal when you find a property you like.

 

A good way to stay ahead of the game is by getting a mortgage in principle before you start house hunting.

 

Mortgage in principle (MIP) = this is a statement from a lender that they would lend you a certain amount and can assure a seller of your financial standing.

 

2. Race for space continues

 

Another domino effect from the pandemic is how homeowners began to prioritise space as one of their main needs in a property.

 

The combination of being cooped up inside, as well as businesses moving to remote working meant that people naturally discovered how much they valued space.

 

If you’re thinking of moving to find a property with more room, the time is now to get a move on with the process – especially with demand being high and surpassing supply.

 

Stay one step ahead of the game and book your up-to-date property valuation with us this month.

 

Why January is a great time to sell

 

Why January is a great time to sell

 

It’s a common misconception that market activity lulls in January, ready to resume in the spring. But with demand levels still on the rise, this couldn’t be more wrong for 2022 predictions.

 

Many see the new year as a chance for a fresh start, and that can mean homeowners are on the hunt to physically change or improve their surroundings.

 

The number of people window-shopping on Rightmove on Boxing Day last year was 50% higher than the year before.*

 

To help you decide whether to take action, here are some of the top reasons why you couldn’t pick a better month than January to sell.

 

People are on the move

 

Statistics indicate that January is the busiest time of the year for employee redistribution or staff members moving around.

 

With many of us spending Christmas at home, it can also be the final push needed for first-time buyers looking to move out or a household to decide they need somewhere with more space for the year ahead.

 

There is less competition

 

After the holiday season has come to an end, conditions are optimal for serious sellers, as many homeowners tend to take their time listing their property.

 

This means that if you work with an agent over the next month, you could get ahead of the competition and really stand out on the market.

 

Show off your home

 

Intelligent buyers house hunt in winter, as properties tend to look their worst in these months.

 

So, if your home looks spectacular and is well presented by your agent, then it will impress viewers as they will assume your property looks even better in the summer! This mentality will draw in potential buyers.

 

Placing your home on the market in January shows confidence in your home – a fantastic starting point in convincing people to buy the property.

 

If you are looking to take advantage of the lucrative new year market, please book your valuation today.

 

*Rightmove

Best seller's market in a decade

 

Best seller's market in a decade

 

Over the past year, the housing market has had its fair share of ups and downs.

 

A lot of people were worried about buying and selling, leaving the market vulnerable at times. Yet despite this, market conditions are keeping to a continual high and exceeding expectations, making it the ultimate market for sellers.

 

Why is December a good month for home sellers?

 

The main reason is because the quality of buyers looking to find a home is higher than any other time during the year. If you also combine that with the low supply in available properties on the market, you’ve got the perfect opportunity to grab the attention of potential buyers.

 

This time of the year is a hectic one, with people spending quality time visiting family and friends. On the property front, it’s also busy, especially with homeowners keen to move within the first few months of the new year.

 

The main catalyst behind this is that people experience a change in their property priorities, pushing them to seek a new home.

 

In fact, 78% of UK sellers felt certain that they would sell their property within the next three months and purchase a property during that same length of time.*

 

Are you eager to match your home with serious buyers?

 

Get in touch with our team today to make sure your property journey is a valuable one.

 

*OnTheMarket 

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Your essential checklist as a landlord this winter

 

Your essential checklist as a landlord this winter

 

With the countdown to Christmas on, it’s essential that landlords prepare their properties for the colder months.

 

We’ve put together the following checklist so you can keep your property in the best condition for your tenants this winter, right through to spring.

 

Boiler

 

With boilers working extra hard over the winter months, it’s essential to make sure that they have been serviced ahead of time.

 

You may want to consider putting a service plan in place to minimise future breakdowns and disturbances.

 

Water pipes

 

Frozen water pipes are a common problem when the weather starts to turn colder.

 

Ensuring pipes have been properly lagged and insulated will prevent them from freezing or splitting – an expensive job to repair as a landlord.

 

Advising tenants to keep the heating on, even at a low temperature, may be worth considering to further prevent any problems with pipes.

 

Guttering

 

Whether your property is rented out or vacant this winter, clearing out your gutters is important to avoid potential leaks.

 

A build-up of leaves or debris in your gutters can stop rainwater or snow from draining away.

 

If not cleared away properly, this can cause several problems, including leaks, damp and cracked drainpipes.

 

Insulation

 

If the insulation in your property is properly checked, then it can go a long way to helping reduce your heating bills.

 

A better-insulated property will reduce the amount of heat lost and can therefore be a lot more attractive to tenants. Investing in your property’s insulation can also fetch you a higher rent too.

 

If you own older buildings or houses with a loft conversion, it’s important to make sure these are well insulated, it’s also worth noting that grants can be available to help improve insulation.

 

Windows and doors

 

Before the cold weather really sets in, you should take the time to inspect your seals on both windows and doors.

 

Draft excluders can often be a popular and cheap method to tackle drafts coming through doors.

 

As your leading local agent, we know how important it is to carry out a winter inspection on your properties to ensure the comfort of your tenants and avoid future repair costs.

 

For more information on any of the above or to talk with a member of our team, contact us.