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Prices hit record high for fifth consecutive month

Recent data released by a popular property portal shows the average price of a property coming to the market has hit a new high of £368,614. Expert predictions suggest that as growth continues, the UK is on track to see prices rise by 5% in 2022 alone. Regardless of the rising prices, demand for properties remains ‘very strong’. In fact, demand is now 113% higher than the pre-pandemic five-year average. *

Looking to move this year?

With the average conveyancing time currently standing at 150 days, those who are looking to move this year will need to take the first steps in the coming weeks. Sellers who are looking to be in a new home for Christmas will need to consider their marketing options and launch their properties onto the market very soon, to ensure they have the best possible chance of finding a buyer for their property.*

Getting your home valued has never been easier. Book your appointment with a few simple clicks.

*Rightmove

Three improvements buyers are looking for in a property

When it comes to selling your home, there is nothing you want more than for your buyers to love your home as much as you always have. Preparing your home can feel like a time-consuming and potentially daunting task. However, this is the very start of your property journey, and before you know it, you could be well on your way to your next home.

Recent research into what buyers are specifically looking for may give you an insight into how you can best prepare your home.

Leisure spaces are a big requirement

The report found that a home gym was one of the most asked for renovation trends, and with the arrival of summer, it is no surprise that buyers are also keen to find properties with outdoor kitchens and al fresco entertaining areas.

Going green with paint

That phrase may have you thinking about eco-friendly improvements. But, we’re talking about paint! Although it is often said that neutral walls are the best way forward, research suggests that adding a pop of colour by repainting the kitchen, or adding a green feature wall, could give your room a whole new lease of life.

Flooring is more important than you think

This one may not be the first thing you think of when improving your property. However, it seems that there are a range of styling options that are ticking buyers’ boxes. Interestingly, solid wood, herringbone flooring, or earthy flagstones are all popular choices for buyers.

Whether your home ticks all the above boxes and you are considering selling. Or, if you are simply curious to know how much your home could be worth, why not book your valuation with one of our professionals today?

Is renting long-term becoming more popular?

Recent research suggests good news for private landlords. When compared globally, the UK now has the 10th biggest share of rental properties versus private home ownership.

Figures from a specialist rental platform show that over the last ten years, the number of rental properties across the UK has increased by 1.1 million and now represents a third of housing stock. Out of an estimated total of nearly 30 million dwellings in the UK, over 10 million of those are rented.

Industry experts are suggesting there is a generational shift in mindset towards renting. Of course, high property prices and shortages of housing stock are preventing large numbers of tenants from moving out of the rental market. However, there are large numbers of tenants for whom renting is a choice, with many preferring the freedom and convenience it offers.

With a strong, ‘build-to-rent’ sector emerging, properties are being designed with the long-term rental market in mind. Experts are predicting that renting will become the norm for an increasing number of people, with tenants remaining in rented accommodation until far later in life than has previously been the case in Britain.

If you are thinking of expanding your property portfolio, get in touch to discuss our property management options.

*Property Reporter

How has the housing market changed in 2022?

You may have heard that the housing market is still going strong after the pandemic boom, but things have changed since Covid restrictions tapered off. A popular property portal recently reported on key 2022 trends – here’s what buyers and sellers need to know.

Buyers tighten their focus

One important shift lies in how people filter search results when looking for their ideal home. Pre-Covid, browsers were more open to exploring a wider range of properties, but this is no longer the case. Instead, prospective buyers are more specific about their search criteria, with gardens higher on people’s agenda than ever before.

Location becomes more fluid

Although buyers have narrowed their search in some ways, many have widened the net when it comes to location – by 58 square miles, in fact.* It appears that home-hunters are more willing to compromise on the area to bag a home office or a bigger garden.

Cities regain their shine

During the most intense pandemic period, people abandoned crowded cities in favour of the rural dream. However, as society returns to normal, people are returning in their droves. A recent report shows that there’s been a 50% hike in countryside dwellers focusing on cities such as London, Bristol and Liverpool.**

This reversing tide has led to nearby train stations becoming a prized asset once again as buyers reassess commuting time. Likewise, apartments have regained popularity now that workers and students flock to urban centres.

What’s the takeaway?

By understanding how market trends are shifting, we can help you showcase your home to attract the right buyers. With the market in such a state of flux, it’s crucial to have an up-to-date valuation – especially if your home will benefit from the changes mentioned above.

Thinking of moving soon? Contact us today to book your valuation or discuss our marketing approach.

*Rightmove

**Compared to January 2021.