So here we are, like a butterfly coming out of its chrysalis, well may be that is over the top a little bit but hey, it feels like we have been held captive in our own little bubble with no joy or freedom for a while now.
Some families have realised that with all the fantastic weather that we have had they now want to change up so that they have a suitable garden for them to enjoy.
Since the government stated that we could reopen our doors on Thursday 21st May, Cross Keys have been inundated with lots of leads on all kinds of properties across the board from larger flats to maisonettes, from terrace houses to detached ones but the most common theme that comes through has been that they all want to upsize either accommodation or outside space. This is the same for the rental market.
One of the consequences from spending so much time in your home is the question “Does this home work for me?” With lots of people taking the opportunity to work from home, a lot of you are considering changing up your property so that you have a dedicated office space. Some families are looking to change up so that their children can have a dedicated play room or even a room to home school.
With all that being said, I want to take some time to talk to all the vendors and landlords that are out there currently with your properties on the market or about to place your properties up “for sale” or “to let”. Consider what it is about your property that might make it appealing to the general public. Are you looking to upscale? If this is the case what can you do with your property that will make it stand out? What special features can you accentuate? The main thing to remember is that presentation is key.
According to a news article, Landlords and Vendors putting their homes on the market are being told to show off gardens in marketing photos as house-hunters search for that coveted outdoors space.
Usually most browsers have previously been interested in what the kitchens, bathrooms and interior features look like, but this period of lockdown has altered our perspectives on what is important to us and what we are now looking for according to research by the property portal Rightmove.
Unfortunately small flats just do not have the space that we now desire, combined with fact that there are so many flats and apartments currently on the market without any outside space at all, means that they are now losing out to houses which have now become more popular with the buying and rental market, especially four and even six bedroom houses.
Some house hunters are taking the decision to move further out from the town and city centres. Suburbia and further in to rural areas are proving more and more popular as these places have been purposely designed for family life with larger houses and generously proportioned gardens usually coming as standard. Many people would usually have been priced out of larger homes with big gardens, but indications suggest they are willing to accept a slightly longer commute to work in order to cast their nets wider for that more affordable and suitable property.
Some of the more sceptical elements of the press believe that this surge in demand will be short lived due to the possible financial problems that the shutdown will have on the economy in the not too distant future, however, Cross Keys are not seeing any signs of this nor do we expect to as here in the West Country, we tend to be shielded from the larger problems that the capital and other larger cities experience.
Some of the adverse effects of this lockdown has had on the public include relationship break ups, loss of employment or the 20% loss of income due to the furlough scheme which have led to the rise in rental enquiries.
Rightmove research for the BBC, based on the website’s data and a survey of 4,000 potential movers, has suggested 49% of renters and 39% of buyers have changed what they are looking for as a response to living in lockdown.
As half of those asked wanted to work from home, a third of movers wanted a better domestic workspace with good internet and a spare room now higher up on wish-lists.
Searches by buyers for homes with gardens on Rightmove were up 42% in May compared with the same month a year ago, and increased by 84% over the same period among renters.
Well, the post Brexit bubble has definitely popped; the fatigued market has been awoken and spring is around the corner. We predicted that there would be a bounce back after the general election and we were not wrong. We have seen record breaking numbers of valuation for January and so far, February is also on track to beat all previous years.
Family houses are still the most in demand and we simply can not get enough of them, larger period family properties are proving to be a big hit as well as buyers looking for the larger size accommodation that builders have not been building for many years. Traditional is best and remains head and shoulders above modern new builds.
First time buyers are hot on the heels of families when it comes to buying three or four bed houses and the up-take form the under 30’s is a fantastic sign that 2020 will be a very good year for the housing market.
Currently there are over 500 flats and apartments available online to buy in the Plymouth area. This is having a bit of a knock-on effect for onward purchases and some sellers are now looking at renting their properties out in order to be in a position to buy on. New home builders are offering so many large incentives to entice buyers to purchase their leasehold new builds that the second hand property sellers cannot compete with this and unless they look at more competitive pricing on these homes they are remaining on the market for prolonged periods of time.
With all the new build student properties being built and with Plymouth University encouraging all first, second and third year students to use these over the traditional Victorian and Georgian house shares that are in the locality, we have seen an increase in older HMO’s (Houses Of Multi Occupancy) coming to the market. As these are no longer filled to capacity, sometime only having 50% occupancy rates, families are considering buying these city houses and refurbishing them back in to lovely family homes.
Here at Cross Keys Estates we have taken on larger numbers of higher end and fine homes since the general election than in previous months. This tells me that the market had been stagnated by the indecision of Brexit, indeed the forecasters are telling us that initial signs of an independent United Kingdom are good. Cross Keys has had its fingers crossed that this would be the case and it looks to be so.
The North of Plymouth is becoming increasingly popular with buyers now, as the end of the road improvements and the Derriford roundabout widening scheme have been completed for the higher levels of commuting traffic from the Woolwell, Roborough and Tavistock areas. Having Border Terriers, I love going out on the moors for walks and this has been made so much easier now and I can see the attraction of buying here. The new eco village is almost complete, many of our resale homes are being snapped up within days of them coming to the market.
Finally, I have to say a big thank you to all of the Cross Keys Estates customers that left reviews for us on www.allagents.co.uk ranking us the “Best Estates Agent in Plymouth” again, and also the “Best Estates Agent in Devon” and the “Best Estates Agent in The Southwest” As if that wasn’t enough, we also won the award for the “Best Letting Agent in Plymouth”as well. It has been the best start to the year that we could have wished for and we are really looking forward to what this year may bring.
As most of you dedicated readers will know, there is nothing I love more than talking about property and property issues. I am sure that I must need to find a hobby or something else to help occupy my time, which is a good link to the subject for this article.
Usually most people think that a new year must mean a new fitness regime or gym membership and most of us start with really good intentions but then find it difficult to keep it up, so here is a thought for you, what about using your home and the things in or around it to help you maintain your levels of fitness, for instance, if you have a first, second or even a third floor apartment, try using the stairs instead of the lift. If you have a garden, gardening is a really good and gentle way to keep fit and surprisingly therapeutic as well.
If like me, many of you use a local car wash, have you thought about changing it up and occasionally doing it yourself. I have seen some people using bags of sugar or filling jam jars up with water to be as weights, in general, there are a lot of things that you can be doing to try to have a less sedentary lifestyle.
I am one of those highly annoying people who gets up at 5.30 most morning and go to a spin class at my gym, thankfully it is only five minutes away but this year I intend on cycling to and from instead of using the car. I will also be trying to eat less pizza, but that might be pushing it a bit far.
So, what will the new year hold install for you, will a move be on the table? Now that we have had the general election, and it seems that the United Kingdom will be leaving the European Union on January 31st, will we see the general condition of the housing market improve? Normally, in September of each year, the housing market, sees an uplift as buyers want to be in their new homes ready for Christmas, however in September 2019, due to the fact that there was so much uncertainty surrounding Brexit and weather or not it would even happen, we did not see this uplift, indeed across the board on most of the retail markets, the uncertainty made most people hit the pause button on their plans to spend any money. Investment buyers, especially, have decided to wait as not only Brexit but also the 3% stamp duty imposed on all second home up to £125,000 or even the 5% on any second properties between £125,001 and £250,000 have certainly been one of the nails in the coffin for the (usually) flat or apartment type property market.
The term Green Shoots suggest that there are slight signs that an improvement is on its way. Here at Cross Keys Estates, we are already seeing some of those Green Shoots of recovery that now fills me with some hope that 2020 will be a more prosperous year than 2019. We left last year with a splurge of sales that lead be to believe that the general public had either had enough of the hesitancy in the market or that they think this year will be a better time for them to buy their dream property.
I, myself, am currently in the midst of looking for my forever home and I am certain that this will be the year for me find it.
