Your monthly property update

Your monthly property update




UK house prices make a stable start to 2023

House prices are not as important as many analysts like to suggest! If you are selling, you may get a little less, and if you are buying, you may pay a little less. Equally, if prices rise, you may get more for the home you place on the market, but then the house you buy will cost you more!
 
However, house prices give a good indicator as to the state of the UK property market. What we really want is stability, and it appears that after years of soaring prices, there is evidence to suggest that the property market is reaching a plateau.
 
According to the Halifax, average house prices in January 2023 have hardly changed since December 2022, while average house prices are still £5000 higher than in January 2022.*
 
Price growth and price increase are not the same
What appears to be happening is a dip in growth, which is very different from a dip in prices. It’s no secret that prices have increased a bit too rapidly over the past few years. A softer, slower market is a more stable market. Buying a home is a long-term investment, and slow and steady wins the race! Some analysts shout "crash" like a nervous passenger in the front seat of a speeding car, but now that the market is driving forward at a slower pace, a crash is unlikely.
 
The law of averages
Many of the figures and stats we hear about are based on averages. It’s important to take these with a rather large pinch of salt! If you are a first-time buyer or looking to move, when you turn on the news and hear the average house price in the UK, you may feel somewhat intimidated, perhaps even frightened! For example, in November 2022, the average price of a property in England was £315,073.** However, there is no substitute for getting online, talking to your agent, and exploring physical viewings to see how far your money can really go!
 
The market is settling down
Another good sign that the market is settling down is the return of more competitive mortgage interest rates. Many lenders are now offering deals hovering around the 4% mark. Stable house prices and stable lending rates create nicer conditions for settling down in the home you want.
 
You accept the price, but you love your house
Price is something you must accept when selling or buying. Who knows, you may love the price if it’s right! Ultimately, you are investing your time and emotion in a house that you want to be the best version of your home. House prices in the long term will inevitably rise, and you don’t want to accept anything less than the right home.
 
To see how much property, you can really get for your money, get in touch.
 
 
 
Halifax*Office for National Statistics**



Freshen up your rental property this spring

Spring is a time for change; it’s warmer, summer is on the way, and daffodils start blossoming, bringing more brightness to the extra light of longer days. Wildlife steps into action, and so can you when it comes to improving your natural habitat! Whether you let a property or rent a property, sometimes the challenge is to make changes with the seasons that don’t cost the earth.
 
Bedrooms
A great way to freshen up your bedrooms is to change the bedding. Choose bright, positive colours that reflect the season. Add some light. If you are a landlord, consider freshening up the walls with a fresh coat of paint. Fresh flowers are best—a single tulip can achieve a lot, but realistically, some dried flowers placed on the windowsill add a blast of cheery colour and vibrancy to stimulate your senses.
 
Kitchen
The kitchen is the central hub of most homes, so it gets the most use and will benefit from a good spring clean and declutter. But if you can do more, consider retiling, painting, or replacing worktops and cabinets. Lighting can really add to the feeling of space; perhaps change the blinds. Some potted herbs grow nicely in the kitchen and offer enticing scents while adding colour. They are also handy to have close at hand when you are cooking up a seasonal treat. Tomato plants will also grow nicely on your kitchen windowsill, and come mid-summer, you'll save on your food bill!
 
Gardening and outdoor living
The possibilities here are endless, even if you rent. Get out in the garden and plant a few flowers or trees. Maybe buy, or even better, make, some garden furniture and start thinking about how you want to enjoy a summer’s night: in front of a fire pit, stove, pizza oven, or maybe you would prefer to barbeque. Simply clean up, cut the grass, and plant a herb garden. If you want low maintenance, plant some solar-powered lights instead! As a landlord, you will not want to get too carried away in the garden, so keep it simple and make it a nice place to be. Create a nice outdoor dining area or sundeck to keep your tenants happy.
 
The sitting room
The sitting room will become less of a cosy place to hibernate and more of a light, airy, and fresh place to chill out. Add a few mirrors and maybe some artwork to the wall. If you have a fire, you may opt for more candles with seasonal scents, so it will smell like spring or summer as you no longer need the heat from the fire quite as much. Rugs can also add a lot of colour, whether on the floor or on the wall; the effect is the same. Plants are a great way to add colour and, quite literally, breathe some fresh life into your living room. There are a host of new and exotic choices that will add vibrancy in spades and help you relax after a hard day.
 
Don’t forget the bathroom
A simple spruce up with some new towels, new fixtures such as a soap dish, another mirror, or some rustic shelving to place some bath salts and more plants! Re-grout between the tiles; any little bit you do will have a big impact.
 
Welcome home!
The front of your home should always greet you with a warm welcome, so make it happen with flowerpots, a neat and tidy weedless facia, clean windows, and a shiny front door!
 
Get in touch to see how we can help you find the place where you want to be when it comes to property.



Do you buy a home with your heart or your head?

Logic and emotion are often at loggerheads when it comes to house buying! Entering a house that gives you that special feeling is one of life’s greatest pleasures. You loved the appearance of the house online, and you were not disappointed when you saw it in the cold light of day. You take a step inside, and the magic begins. It all just feels right.
 
You can see yourself living there, and you have a warm feeling inside your chest as you go from room to room; already, you imagine waking up feeling content in the bedroom because you love the view from the window and the feeling of space. The kitchen is perfect for the entire family, and in your mind, they are already sitting around the table. The fire is so inviting; the garden needs work, but you already have a vision of how to make it splendidly your own.
 
Despite all of this, you return to your current house, your mind still creating scenarios and teeming with happy images of a better life in a nicer home, and you stop in your tracks. You have run the numbers, and even though logically you can afford to move, the internal battle between your head and your heart begins.
 
Don’t ignore your head
It’s important that the numbers crunch correctly. You have to be able to afford your new home! But do not become obsessed by what-ifs and market trends. Many people have made the mistake of losing the house they love while waiting to see what happens to house prices, just in case they drop or rise. It really makes very little difference. House prices fluctuate by small amounts in the short term and grow significantly in the long term. The sooner you start paying your mortgage on the property you want, the better. Logically, this will save you more money in the long run.
 
Listen to your heart
Ultimately, for true home happiness, you have to listen to your heart. Given that you can afford the home you really want, it’s important to open up and tune into your emotions. Learn to trust them; they are there for a reason. Few other events in your life will create such feelings of desire, contentment, safety, passion, happiness, fulfilment, and security. If you are a little scared, that’s perfectly healthy, but do not let it dominate your decision or cloud your logic.
 
A happy beginning!
There is nothing wrong with allowing your heart to rule your head when it comes to home moving. Just keep the logical stuff simple, and then allow your heart to do the rest. Then, finally, after you have taken the plunge, having not purely based your decision on a mere impulse, you can start making priceless happy memories.
 
Finding emotional fulfilment in your home is a logical step!
Logically, emotional fulfilment is important financially. The rest of your life will function so much better if you are living in a home that makes you and your family happy. The health benefits that positive emotions bring, not to mention reduced stress levels and quality downtime, will benefit you throughout your entire life.
 
Finding the right home is really important to us because we know what it means to you. Get in touch to see how we can help in your home search.
 



7 good reasons to be positive about the 2023 property market

 
Positivity is like a fresh spring breeze; it just makes you feel good and clears your head! With so much negativity bandied about in the media, with sensationalist headlines, it’s easy to become worn down by all the doom and gloom. Your head becomes clogged with confusion, which is almost as uncomfortable as a winter cold. On the other hand, you are an optimist and want to move forward based on informed choices and good reasoning.
 
The housing market is built on good foundations
A significantly large part of property sales are cash buyers and buyers borrowing less than 50% of the value of their property.* This is hard to hear for those of us who have to borrow much more to progress on the property ladder. However, the good side to this is that it helps stabilise the property market and the wider economy. Unlike so many other sectors of public and private borrowing, the house of cards scenario is not as precarious!
 
A stable and secure borrowing and property market
It’s now widely accepted that while interest rates are higher than they have been over the years, they are set at more realistic levels. It’s comparable to responsible lending; prior to this, borrowers could almost borrow as much as they wanted, leading to big repayment problems during the banking crisis.
Since the introduction of responsible lending, the future is less susceptible to the perils of overborrowing. Interest rates may be higher, but the result is a more stable borrowing market and a more stable housing market. Interest rates are stabilizing, and even if there are more adjustments to the base rate, a small increase will not affect your mortgage interest rates.
 
 
House prices remain resilient without soaring, with good long-term growth
House prices are no longer soaring towards the sky or dropping through the floorboards. Instead, due to low supply and high demand and good levels of employment, prices are realistically stable. When it comes to making an offer, there is also some room for price manoeuvring, while long-term growth prospects remain favourable.
 
First-time buyers
With 5% mortgages available to first-time buyers thanks to the government’s Mortgage Guarantee Scheme, extended until December 2023, there is a lot for first-time buyers to feel good about.
 
Demand for green homes is increasing
Homes are becoming greener and leaner, and as such, they are becoming more desirable. Houses that are more self-sufficient in terms of energy fetch higher prices than homes that are more expensive to run.
 
Homes are becoming more energy efficient
The government’s ECO+ scheme, due to start in April 2023, will run for three years and, with a pot of £1 billion, will give big energy suppliers the means to offer customers grants to make their homes more energy efficient by improving insulation.
 
The standard of homes has increased massively
It’s no secret that during the pandemic many homeowners spent a lot of time and money making home improvements. Today, as you get on the move, you can enjoy the fruits of all those labours and find a property that is in great condition; modernised, energy efficient, stylish, and ready to be lived in. All you have to do is enjoy it.
 
Make some positive steps towards buying the home you truly desire. Contact us for more information.
 
Zoopla*
 



Mother's Day Weekend 2023

Show your mum just how much you love her with a wonderful family day out to Hever Castle on Mother’s Day Weekend.

Click here to read Mother's Day Weekend 2023.



9 To 5 The Musical

After their long awaited run of Sister Act - delayed due to you know what- Maidstone Amateur Operatic Society are delighted to return to the Hazlitt Theatre with 9 to 5 The Musical.

Click here to read 9 To 5 The Musical.