22 February 2021

WHY ARE HOUSE PRICES GOING UP?

 

If you’re thinking about moving home but are unsure how the end of the stamp duty holiday could impact your plans, I’ve some new insights to share.

The latest study from property portal Rightmove shows that demand from buyers is growing, with all of the numbers they use to track buyer activity on their site being ahead of this time last year.

As it’s now far too late to realistically complete a deal before the stamp duty holiday is due to end on the 31st March, it would appear that many buyers’ desires to move are not dependent on the potential tax saving.

In fact, the number of people contacting estate agents about homes to buy is up by 18% compared to this time last year, and the number of visits to property portals is up by 45%.

This high buyer demand is outstripping new supply and therefore helping to push up prices despite the challenging economic backdrop. Asking prices are going up.
First time buyers are battling with each other and estate agents to secure their first home.

So buyer demand is higher and prices are rising, but one thing people might find right now is that there isn’t as much new choice as usual.

The number of new properties coming up for sale is down by 21% annually.

I expect that one of the main reasons for this is that owners of family homes are delaying coming to market, understandably due to home-schooling distractions.

What else is happening in the market?

Experts estimate that there are around 100,000 buyers who agreed a purchase before Christmas but will fail to complete by the stamp duty deadline, and will be faced with a tax bill that they may not have factored in when they agreed to buy the property. Unless Chancellor Rishi Sunak extends the deadline. Rumours are about that he will extend by another six weeks.

The latest analysis shows that of those buyers who agreed a purchase during the month the stamp duty announcement was made in July last year, one in five of them are still stuck in the logjam, more than six months later.

This is double the proportion of the previous year when only one in ten purchases that were agreed in July 2019 was still waiting to complete at this time last year.

So even if you agreed a purchase the day after the stamp duty holiday was announced, with just five weeks to go, you may still be at risk of losing out by not having enough time to meet the deadline.

What do the experts say?

The Rightmove property data expert Tim Bannister explained that the property market has got off to a strong start in 2021, and that there are lots of good reasons to put your home up for sale.

He said: “Last year the market was unexpectedly buoyed by buyers’ determination to move and satisfy their new lockdown-induced housing needs. We may well be seeing a continuation of that this year.

“Rightmove’s early 2021 buyer data shows that despite the imminent end of the stamp duty incentive, all of the key buyer metrics are ahead of early 2020, itself an active period as the market was boosted by the post-election ‘Boris bounce’. 

“As well as the current lockdown motivating buyer demand again, the restrictions have also been a factor in limiting new supply, leading to some modest upwards price pressure. These are strong signs that new buyer demand is not facing a cliff-edge after the 31st of March.

“It remains to be seen if this momentum will be enough to make up for the removal of the stamp duty savings that are benefitting many buyers and have been adding a sense of urgency to the whole market.

“So far in 2021 home-schooling has taken priority over home-selling for some people. Family properties are suffering most, with the difficulty of preparing a property for marketing and viewings while it’s in use and occupied 24/7 by the whole family likely to give you cause to delay.

“Ironically, whilst it’s too late for the stamp duty holiday, there are good reasons to come to market now, especially if selling a property suitable for a family? There are more possible buyers looking and fewer suitable alternatives to divert their attention away from yours. An early start to the selling process will also help to get you sold, moved, and settled in before the new school year.

“With the current speed of the vaccine roll-out, that new school year will hopefully be spent in schools and out of the home, but many of the other new needs for more space both indoors and out will remain.”

Thanks for reading

I'm here to help sellers, buyers, landlords, and tenants.

Call me or drop me a message if you think I might be able to help you.

geraldbowers@thegoodea.co.uk

The Good Estate Agent – North Nottinghamshire
Tel: 01777 237310 or 07981 744003

https://www.facebook.com/thegoodestateagentnorthnottinghamshire


21 February 2021

ORDSALL HOUSE - RETFORD - FOR SALE only £1.25m

 

ORDSALL HOUSE  -  FOR SALE -  RETFORD, NORTH NOTTS

This very spacious family house is on the market for just £1,250,000

6 bedrooms, 5 bathrooms, garage for 6 cars, private location, wine cellar etc
This beautiful Grade II listed Georgian house is a bargain here in Retford North Nottinghamshire.





Have a closer look here on Rightmove

https://www.rightmove.co.uk/properties/89197411#/


WHAT COULD YOU BUY FOR THE SAME PRICE DOWN SOUTH?

As a comparison let’s look at what you could buy in the south of England down in Weybridge, in Surrey for the same price.
A classic Victorian 4 bedroom end of terrace house.


Have a look on Rightmove

https://www.rightmove.co.uk/properties/101775884#/

To arrange a viewing of Ordsall House please contact:
Mellor & Beer
Estate Agents
51 Bridge Street
Worksop
Notts
Tel: 01909 479977

I'm here to help sellers, buyers, landlords, and tenants.

Call me or drop me a message if you think I might be able to help you.

geraldbowers@thegoodea.co.uk

The Good Estate Agent – North Nottinghamshire
Tel: 01777 237310 or 07981 744003

https://www.facebook.com/thegoodestateagentnorthnottinghamshire


09 February 2021

Tough New Regulations for New Homes Developers

 

Good News for Buyers of NEW Homes.

A ‘New Homes Quality Board’ will introduce a code of practice and ombudsman later this year.

A new body that will oversee improvements to the quality of new homes, better customer service and strengthened consumer redress has officially launched nine months after being announced.

The New Homes Quality Board (NHQB) will include organisations representing consumer bodies, housebuilders, warranty providers and the finance sector.

I’m sure most estate agents will welcome the NHQB largely because, while agents have been regulated for years and faced redress when sales go wrong, new homes sales have been covered only if they sell their homes via an estate agency.

Here in Retford there are some new home buyers who are not happy with the response from new homes developers when they are challenged about quality issues with their new home.

NEW OMBUDSMAN

The NHQB is to launch a New Homes Ombudsman Service that will support buyers when there are disputes, although its work will not be retrospective.

This will be policed via a new code of practice which will require developers/builders to join the scheme and then commit to much higher levels of service during the sales process, and also support buyers who have problems with their homes for up to two years after they complete.

The Government Housing Minister Eddie Hughes is reported to have said:

“It’s crucial developers show more responsibility for the quality of their work while also acknowledging when things go wrong – this helps give vital confidence to buyers, especially at a time of general uncertainty.”

A consultation on the code is under way and the ombudsman scheme is set to be up and running later in 2021

Thanks for reading

The Good Estate Agent - North Nottinghamshire.

I help sellers, buyers, landlords and tenants.
If you think I might be able to help you please drop me a message.

geraldbowers@thegoodea.co.uk
01777 237310  Messages to 07981 744003 

Visit my Facebook Page
https://www.facebook.com/thegoodestateagentnorthnottinghamshire


30 January 2021

RETFORD PROPERTY MARKET - The Most Popular Areas & Top Selling Properties

Looking at the number of completed property sales in 2020 the number of transactions were down 42% compared to 2019. No surprises, but still a lot of activity during a pandemic.

These are the actual transactions fully completed and filed with the Land Registry.
I’m sure there are many sales that were agreed in the later part of 2020 but are still in the pipeline awaiting completion.

2020 Property Sales

Popular Villages

During 2020 the villages with the most property sales were the ever popular locations:   

North Leverton 
Ranskill 
Sutton 
North Wheatley

Popular Streets/Areas in Retford

The highest number of sales were the new build properties in Hawfinch Meadows (DN22 7ZS) and Snowden Drive (DN22 7ZU)

Most Expensive Residential Properties

The properties with the highest sales prices in 2020 in our area were:

RoseHouse, Rose Meadows, Barnby Moor for £975,000

Nutmegs, Low Street, Torworth for £842,500

Ordsall Lodge, London Road for £740,000

Greenacres,Rampton Lane, South Leverton for £680,000

In the coming months we will look at the most popular streets in Retford.

Thanks for reading

The Good Estate Agent - North Nottinghamshire.

I help sellers, buyers, landlords and tenants.
If you need help please drop me a message.

geraldbowers@thegoodea.co.uk
01777 237310  Messages to 07981 744003 

Visit my Facebook Page
https://www.facebook.com/thegoodestateagentnorthnottinghamshire

16 January 2021

You could have a RIGHT TO BUY Derelict or Unused Buildings and Land plots

 

 

I’m sure we have all commented at some time ‘’What are they going to do with that?’’ or ‘’Look at that eyesore…about time the council did something with it.’’

Today the government has announced a major step forward to provide the public with an opportunity to buy derelict, unused buildings and land plots currently owned by local authorities or other public sector organisations.

Do you know of any derelict buildings or land plots owned by a local authority or other public sector organisation?

Maybe there is a plot of land owned by a local authority at the bottom of your garden?

Well now you can do something about it. You could also buy it if you wanted. A group or charity organisation could claim the right to buy it.

HOW?

New Right to Regenerate will enable the public to require councils and public sector organisations to sell unused land and assets

Proposals for the public to have first right of refusal to purchase underused land in England

Land to be sold by default, unless compelling reason not to

Making it simpler, quicker and easier for public to transform vacant land and derelict buildings into homes, businesses or community spaces

This is a very bold step by the government and I’m sure many local authorities will find it challenging.

The public will be able to convert vacant plots of land and derelict buildings into new homes or community spaces, under plans announced today (16 January 2021) by the Housing Secretary, Robert Jenrick MP.

The ‘Right to Regenerate’ proposals would make it easier to challenge councils and other public organisations to release land for redevelopment – helping communities make better use of public land and give a new lease of life to unloved buildings.

Underused public land could be sold to individuals or communities by default, unless there is a compelling reason the owner should hold onto it.

Under the proposals, public bodies would need to have clear plans for land in the near future, even if only a temporary use before later development – if the land is kept for too long without being used, they would be required to sell it.

These measures provide an opportunity for the public and local communities to redevelop and transform eyesores, taking control of unused local land or buildings and transforming them into something they want in their area.

This builds on the government’s drive to encourage development on brownfield land and more beautiful buildings that are in line with local preferences.

The strengthened rights would also apply to unused publicly owned social housing and garages providing opportunities to transform the local housing stock.

The latest figures show there were over 25,000 vacant council owned homes and according to recent FOI data over 100,000 empty council-owned garages last year.

The new process will be fast and simple, and the Secretary of State will act as an arbiter to ensure fairness and speedy outcomes in all cases.

Housing Secretary Rt Hon Robert Jenrick MP said:

Right to Regenerate is the simple way to turn public land into public good, with land sold by default, unless there is a very compelling reason not to do so.

We are cutting through red tape so that communities can make better use of available land and derelict buildings, which means more new homes, businesses and community assets.

Millions of people will now be able to buy that empty property, unused garage or parcel of land and turn it into something good for them and their community.

Tom Chance, Chief Executive of the National Community Land Trust Network, said:

We welcome these plans that could help communities to turn abandoned and neglected land and buildings into fantastic community assets.

There are hundreds of community land trusts across the country wanting to build much needed affordable housing, but getting hold of land at an affordable price is a huge barrier.

The potential for communities to be given first right of refusal could be a game changer. We encourage everyone to read through the proposals and respond to the consultation.

The ‘Right to Regenerate’ is a great-step forward to build on previous attempts at doing this and it will increase the chance for communities to come together to bring vacant land into the heart of the community.

In practice this could mean if a member of the public had an unused plot of land at the back of their house owned by the council, they could use the new Right to Regenerate.

If the land was determined to be underused with no plans to bring it into use, it would be sold and the person making the request could have first right of refusal to purchase – enabling them to extend their garden, or for the community to come together to use the land in a beneficial way.

See further information here:

https://www.gov.uk/government/news/right-to-regenerate-to-turn-derelict-buildings-into-homes-and-community-assets

Thanks for reading

The Good Estate Agent - North Nottinghamshire.

I help sellers, buyers, landlords and tenants.
If you think I might be able to help you please drop me a message.

geraldbowers@thegoodea.co.uk
01777 237310  Messages to 07981 744003 

 

Visit my Facebook Page
https://www.facebook.com/thegoodestateagentnorthnottinghamshire


08 January 2021

Important Information for LANDLORDS and TENANTS - What are your rights during lockdown?

 

Evictions ban to be extended for ANOTHER six weeks

It has not been easy for Landlords and Tenants during this pandemic.

Housing Secretary Robert Jenrick has announced today that the current ban on bailiff evictions is to be extended for six weeks until 21st February 2021

“We are extending the ban on bailiff evictions – helping to protect the most vulnerable renters,” says Robert Jenrick.

The announcement, which has been widely expected, will not go down well among some landlords.

But the National Residential Landlords Association (NRLA) says it has secured some leeway from the government, in the form an exemption for landlords with arrears greater than six months, an improvement on the previous position of nine months’ rent arrears.

“The repossessions ban is a sticking plaster that will ultimately lead to more people losing their homes. It means tenants’ debts will continue to mount to the point where they have no hope of paying them off leading eventually to them having to leave their home,” says NRLA Chief Executive Ben Beadle

“Instead, the Government should recognise the crisis facing many tenants and take immediate action to enable them to pay their debts as is happening in Scotland and Wales. The objective should be to sustain tenancies in the long term and not just the short term.”

Robert Jenrick added: “This winter, we are continuing in this vein and redoubling our efforts to help those most in need.”

It appears most landlords and tenants have, on the whole, been working well together throughout the crisis to create payment plans and strategies that keep people in their homes.

However a further extension to the ban without additional provisions for landlords and tenants could be storing up even more trouble for the future.

Mark Hayward, Chief Policy Advisor for Propertymark, says: “In light of the recent lockdown, it is no surprise the UK Government has made today’s announcement, yet over the past few weeks the UK Government has held off updates about evictions to the sector making it impossible for agents to respond and plan for the difficult winter months ahead.

“The whole of the private rented sector has been impacted as a result of COVID-19 but we must recognise that the courts already faced a backlog of cases prior to the pandemic. Although the new mediation pilot will help it is important to take steps back towards normality so that both landlords and tenants have access to the justice system, while putting measures in place to offer further support to tenants who have built up COVID-related arrears through no fault of their own.”

Polly Neate, Chief Executive of Shelter, says: “You cannot follow the order to stay at home if you don’t have one – making the government’s decision to stop bailiffs from physically evicting people this winter the right call. While this ban doesn’t halt the evictions process entirely, it is the minimum required to keep more people safe in their homes.

“Even with the bailiff ban extended until February, we know people will still become homeless. The government’s extra £10 million for rough sleeping support and to make sure people are registered with a GP is very welcome and essential.”

Summary

Tenants cannot be evicted by a bailiff.

Landlords continue to be required to give 6-month notice periods to tenants except in the most serious circumstances. e.g. anti-social behaviour, illegal occupation, death of a tenant where the property is unoccupied, fraud, perpetrators of domestic abuse and extreme rent arrears equivalent to 6 months’ rent.

Tenants are advised to continue to pay rent. Those tenants suffering from loss of income can claim Universal Credit and seek help with rent payments.

Landlords and Tenants can negotiate a repayment plan to pay off arrears and continue the tenancy.

Tenants need to remember that many landlords have buy-to-let mortgages to pay.

None of us wants to see anyone homeless.

 

Read the official announcement in full.

Thanks for reading

The Good Estate Agent - North Nottinghamshire.

I help sellers, buyers, landlords and tenants.
If you think I might be able to help you please drop me a message.

geraldbowers@thegoodea.co.uk
01777 237310  Messages to 07981 744003 

Visit my Facebook Page
https://www.facebook.com/thegoodestateagentnorthnottinghamshire


07 January 2021

PROPERTY MARKET - What can you do during lockdown?

 


Retford Housing Market to stay open during lockdown

What can you do during the lockdown?

As England is in a new lockdown, the latest official guidance says that you are still able to move home throughout the lockdown, as long as you follow strict safety guidelines.

Can I move home?

Yes, the government’s official guidance says you can still move home and estate agents have been told they can continue to work.

In the latest guidance it says that carrying out activities related to buying, selling, letting or renting a residential property are reasonable excuses to leave home.

But the most important thing is that you follow the guidance to help everyone stay safe, and throughout last year agents changed how they operate to keep to these safety guidelines.

If you are already in the process of moving, people outside your household or support bubble should not help you move home unless it’s absolutely necessary.

Key things to consider are:

Use virtual viewings of properties where possible

Properties should be unoccupied when physical viewings take place

Follow government advice on social distancing during a viewing

The wearing of masks by all parties during a viewing

Practice good hand hygiene and ‘touch free’ viewings

Thoroughly clean properties before and after viewings

Can I put my home on the market?

Yes, you can put your home on the market and look for properties to buy or rent. However, if you or any member of your household is showing symptoms of coronavirus or is self-isolating, then estate agents and potential buyers should not visit your property in person.

Estate agents can still visit to take photos of your property, but of course, they need to follow the appropriate safety guidance. As usual, you should also start to gather together the necessary documents to sell your home.

To help prevent the spread of infection, the government recommends that you carry out initial property searches online, and only visit a property in person when you are seriously considering making an offer on it.

If you’re planning to buy a new-build property, you should contact the developer. You should be able to make an appointment to view the show home or visit the particular plot you are interested in purchasing.

Can I go on a property viewing?

Yes, if you’re looking to move home, you can continue going to viewings during lockdown.

But you should if possible ask for a virtual viewing first. It’ll reduce the number of viewings you have to go on, which will help minimise the spread of germs.

It could also save you time, because you’ll have a better idea of whether a house is worth seeing or not.

When viewing a property in person, make sure you wear a face mask, avoid touching surfaces, and wash your hands or use sanitiser before and after.

There shouldn’t be more than two households within the property at any one time, and viewings should only be arranged by appointment, so ‘open houses’ aren’t happening at the moment.

If you’re selling your home and are having interested buyers come around to have a look, open all the inside doors beforehand so they don’t have to touch the door handles.

It’s recommended that you’re not in the property during the viewing, and that you disinfect all surfaces after.

Can I book a removals firm?

Yes, removals firms are still able to do their jobs, but again, providing that all parties follow the safety guidelines.

It’s advised, however, that you do as much of the packing as you can yourself and give your belongings a quick spray or wipe-down with a disinfectant before they’re handled by someone else.

When the removals team is around, do your best to maintain distance and wash your hands regularly. Unfortunately you won’t be able to offer them refreshments – which of course they’ll understand.

It’s also recommended that you book your removals company as early as possible. In many areas they’re very busy and it may be a challenge for you to find one available at a short notice.

I’m in the middle of buying a home, should I expect any delays during lockdown?

It’s possible that in some areas the conveyancing process will be slower than usual right now.

This is because some solicitors and agents may be operating at limited capacity, or are very busy working through deals that have stacked up since last year.

If you’re about to enter into a legally binding contract, you should discuss the possible implications if someone has to self-isolate or quarantine.  Ask your legal representative if they can include provisions to manage these risks in the contracts.

If someone in your household – or the other party’s – begins to show any Covid or flu-like symptoms just as you’re about to complete, you should postpone things by a few weeks.

The government says we should all remain flexible in this sort of scenario, so it would be ideal if your contracts can reflect that.

I’m a renter, can I still move home?

Yes, renters can still look for properties and move homes.

Cleaners are also still allowed to carry out work in your home, so if you need to bring in a professional cleaner before the end of your tenancy, you’re allowed to do so.

Renters should follow the same safety guidance that applies to buyers during this period, such as doing online viewings first, and you can find the official advice in full, here.

Can tradespeople come out to my home to carry out work?

The current rules do allow tradespeople to carry out work in your home, as long as they have no coronavirus symptoms and are following all the necessary safety guidance.

However, it’s worthwhile making sure you’ve covered all bases to ensure you keep yourself, anyone else in your household, and the people carrying out the works, safe.

For example, ahead of the work starting you should ask:

Does anyone involved have symptoms of the virus?

Is there anyone with underlying health conditions in the property?

Are there any sick or elderly people living there who could be affected?

Could anyone entering the property impact on the health of anyone living in it?

Will anyone visiting, such as a surveyor or tradesperson, be affected by working in my home?

Will all the people working in the home be wearing the correct PPE (personal protective equipment)?

In addition, traders should not go to homes of anyone who is self-isolating or at risk from the virus.

However, if the work you are having done is not urgent, you may want to reschedule it for a more convenient time.

I’m in the middle of a renovation, can it continue?

Yes, renovation work can still continue during this lockdown period. Tradespeople are able to enter your home – providing all parties follow the Covid safety guidance.

If anyone in your household is self-isolating or is showing symptoms of the virus, all works should be rescheduled until it’s safe to resume.

The same goes for any tradespeople due to be working in your home.

To help ensure that all parties remain as safe as possible during the renovation, you should:

Keep your distance from any visitors and avoid physical contact

Wash your hands regularly with soap and water for at least 20 seconds, or use hand sanitiser

Avoid touching your eyes, nose, and mouth with unwashed hands

Cover your cough or sneeze with a tissue, then throw the tissue in a bin and wash your hands

Clean and disinfect frequently touched objects and surfaces in the home such as door handles, light switches and your kettle

Is the housing market busier than usual?

The housing market has been extremely busy since it first re-opened again in the middle of 2020, and this increased demand for property has continued into the first few days of 2021.

Thanks for reading

The Good Estate Agent - North Nottinghamshire.

I help sellers, buyers, landlords and tenants.
If you think I might be able to help you please drop me a message.

geraldbowers@thegoodea.co.uk
01777 237310  Messages to 07981 744003 

 

Visit my Facebook Page