Posts with tag: lettings sector

The Home Seller/Landlord Spring Clean Checklist

Published On: March 14, 2017 at 9:23 am

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Categories: Landlord News

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Spring is a busy time in both the property sales and lettings sectors. If you’re selling a property or are looking for new tenants at this time of year, this spring clean checklist will ensure that your home appeals to all guests…

Online estate agent eMoov.co.uk has highlighted which spring cleaning jobs to tackle first based on the importance placed by prospective buyers. The agent surveyed UK homeowners and asked them to rank six property features on their importance when making a good first impression:

  1. Interior rooms, walls and ceilings 

Despite the exterior of the property being the first thing a buyer/tenant will see, the interior was ranked the most important aspect of the home and should be the first place you tick off your spring clean checklist.

Jobs such as making sure the property is de-cluttered, filling any holes in the walls, stripping or repainting the walls, and generally having a good clean took president over any other feature of a property.

  1. Exterior walls and roof

Once the inside is looking its best, the exterior of the home was the second most important factor when making a good first impression amongst viewers.

Make sure that the roof doesn’t have any leaks, the walls are showing no cracks and the grouting is smooth.

  1. The front door and porch

The front door and porch are the gateway to the property and are often the first things a potential buyer/tenant sees up close.

Ensure there are no old shoes or bikes cluttering the porch, strip any peeling paint and give the door a fresh lick of paint, as well as making sure it doesn’t stick.

  1. The Home Seller/Landlord Spring Clean Checklist

    The Home Seller/Landlord Spring Clean Checklist

    Windows and window sills

Although they are only small features, windows and window sills were ranked the fourth most important aspect of a property.

The quality and appearance of windows can play a huge role in showcasing your home, so make sure there are no cracks, they have all been well cleaned, peeling paint has been removed and a fresh coat applied.

  1. The garden

The garden can often be neglected throughout the winter, so bringing it back to its full potential is the fifth point on your spring clean checklist.

As with the interior of the home, remove all clutter and rubbish, mow the lawn and trim the hedges to showcase the full size of your outdoor space. Repair any loose or broken fence panels or paving stones, and give them a good clean.

  1. The driveway and garage

The driveway and garage were voted the least most important factors for potential homebuyers. They can be big, time-consuming jobs, so leaving them till last can better help manage your time.

These external features are more of a bonus rather than a necessity, so buyers/tenants will view them with varying degrees of importance. Knowing they have space for a car or additional storage is more important than the state of those areas.

The Founder and CEO of eMoov, Russell Quirk, comments: “This research goes to show that first impressions do count, but where housing is concerned, the initial judgement of the exterior comes second to the internal appearance of a property.

“Where buyers are concerned, it would seem they prefer to be underwhelmed by the outside of a property and pleasantly surprised by the inside rooms, rather than visa versa.”

He explains: “It makes sense as, when we look to move house, the internal rooms are the places we will actually be spending our time. You are immediately sat within them and so, if they aren’t up to scratch, it can be a put-off. But if there are aspects of the exterior you aren’t necessarily keen on, then not only can these always be changed, but you have a bit more breathing room in terms of settling in and unpacking before tackling them.

“A buyer will always view through their own personal lens, and there will be plenty of things they will change, but providing them with a solid, clean, neutral foundation can go a long way in securing a sale.”

Quirk continues: “It is interesting to see that the small details, such as the front door, the windows and window sills rank much higher than larger areas such as the garden and driveway. Again, it is these little touches that can stand out to a buyer and make all the difference to your sale.

“My wife has been on at me for a few weeks now to get our kitchen ready along with a few other jobs, so it is getting to that time of year when these things come to the forefront and buyer activity in the market also starts to heighten. Hopefully, this checklist will help the UK’s sellers prioritise appropriately when deciding which area to tackle first and aid them in making a sale.”

Surveyors Report a Subdued Property Market for Lettings and Sales

Published On: January 19, 2017 at 11:50 am

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Categories: Property News

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Surveyors reported that the property market, for both lettings and sales, was subdued at the end of last year.

The Royal Institution of Chartered Surveyors (RICS) has released its latest UK Residential Market Survey, covering December 2016, looking into activity in the lettings and sales markets.

Surveyors Report a Subdued Property Market for Lettings and Sales

Surveyors Report a Subdued Property Market for Lettings and Sales

Surveyors saw a slight drop in sales activity at the end of last year, while many are predicting a decline in volumes over the next three months.

The report shows that 1% more chartered surveyors saw a fall rather than a rise in sales in December, with just 4% more respondents anticipating an increase in sales over the next three months, down from 18% previously.

However, in the longer term, the 12-month sales outlook is much more positive, with 32% more surveyors expecting sales to rise rather than fall this year, compared with 31% in the November survey.

More surveyors are also expecting house price declines in the next three months, but, over the year, 49% more forecast growth, up from 40% in November and the strongest level seen since May 2016.

The latest official statistics, for the end of last year, show that house prices remain resilient across the UK.

In the lettings sector, surveyors said new landlord instructions were more or less flat, projecting rental growth to average around 5% per year over the next five years. However, recent reports warn that rents are close to hitting an affordability ceiling.

The Chief Economist at the RICS, Simon Rubinsohn, comments on the lettings and sales markets report: “A familiar story relating to supply continues to drive both the sales and lettings market, impacting on activity, prices and rents.

“The eagerly awaited Housing White Paper should help to create a more positive framework for new build delivery, but, with the best will in the world, it is going to take time before the resulting uplift in the development pipeline begins to impact on the opportunities for either homebuyers or tenants.”

He adds: “Meanwhile, the latest RICS survey provides further evidence that both price and rent pressures are continuing to spread from the more highly valued to more modestly valued parts of the market for good or ill.”

How do you think the lettings and sales markets will fare over the coming 12 months?

Record Best Rental Market in Some UK Regions in August

Published On: September 16, 2016 at 8:37 am

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Categories: Property News

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Although many parts of the country have experienced declines in the lettings sector over the past month, some UK regions have seen record best performances in the rental market for August.

The findings from Agency Express’ Property Activity Index found that the rental market experienced declines across the UK on a monthly basis, although the lettings sector remains robust year-on-year.

Record Best Rental Market in Some UK Regions in August

Record Best Rental Market in Some UK Regions in August

Traditionally, the UK rental market sees a slowdown in activity over August, and last month was no different. New listings to let dropped by 4.1% and properties let by 1.9%.

However, Agency Express’ historical data shows that the decreases seen this year were considerably less than those recorded in the same month last year, when new listings fell by 13.2% and properties let by 9.2%.

Just four of the 12 regions recorded in the Property Activity Index saw a rise in new listings, while three experienced increases in the number of properties let.

August’s top performing region was East Anglia, which saw growth in both new listings, at 1.1%, and properties let, at 6.1%.

A buoyant rental market was also seen in the North East, where properties let rose by 20.2%. Looking back at Agency Express’ historical data, the figures seen in East Anglia and the North East were record bests for the month.

Other regions that bucked the seasonal trend include:

New listings to let  

  • Wales: +15.3%
  • South East: +3.7%
  • South West: +2.3%

Properties let 

  • London: +5.9%
  • South West: -0.4%

The greatest decreases in August were seen in central England. New listings to let fell by 16.2%, while the amount of properties let dropped by 9.2%. Again, the decline in new listings is lower than that recorded in 2015, when they were down by 21.7%.

Stephen Watson, the Managing Director of Agency Express, comments: “This month, the UK rentals market has seen some seasonal decline, but our data shows this to be less than in years previous. This year, we have seen more regional growth, with areas reporting their record best increases in new listings, whereas in 2015, only one region reported an increase – Wales at 3.4%. As we collate September’s data, we would expect to see a spike in activity once again. Last September, new listings sat at 4.2% – this year we’d hope to see a larger increase, based in current activity.”