Finn's Newsletter: Spring 2021, Issue No.5

What do buyers and renters find essential in the current climate?

 

More than a quarter of UK homeowners and renters have claimed that their property priorities have changed since the COVID-19 outbreak.

 

Previously highly-sought after and high-value property features have dropped down the priority list for homebuyers and tenants, as they now seek different factors when looking for a property that meets their needs and lifestyles.

 

Easy commutes to work, proximity to local shops and restaurants, and local public transport links are no longer as desirable as they once were.

 

Instead, we have noticed a significant increase in those searching for more space, whereby those searching are willing to compromise on location or local amenities in return for larger bedrooms and a 'work from home' zone.

 

Having access to a private garden or nearby green space has also become one of the top preferences for homebuyers and renters, especially in light of reduced travel options this summer.

 

Are you looking to buy, sell, rent or let this year?

 

As leading agents within the local area, we're in the prime position to help you locate your next investment opportunity.

 

A third of UK households predicted to move this year

 

As restrictions start to ease, almost a third of UK households are making plans to change their living arrangements, following their lockdown experiences.

 

According to a new national survey of around 2,000 households, 31% are planning to move house following repetitive lockdowns and remote-working experiences.

 

With only around 5% of households typically moving house each year, the increase is staggering.

 

Has lockdown got you feeling like you want a change of surroundings?

 

The following were the top three reasons people felt as important to them when relocating home:

 

- 29% good standard of living

 

- 26% hybrid working environment

 

- 23% road networks and connectivity

 

 

Hybrid working options and lifestyle changes were the two obvious key elements driving the change in buyers' and sellers' behaviour.

 

However, the recent stamp duty holiday and desire to take advantage of significant property price increases in 2021 has also influenced decision making.

 

What are you waiting for? Start your search today and take a look at our stunning range of properties below.

 

 

 

*Property Reporter

  

How your street name could affect property prices

 

A recent report has analysed property sales across England and Wales in order to determine the most popular and expensive street names.

 

So, just how much value is there in your street name?

 

According to the findings, 30% of all homes that sold in the last year had a street name that ended in “Road”.

 

Whilst the street endings “Close” and “Street” also proved popular, with a combined total of 18% of house sales.

 

Making up the top five most popular names were “Avenue”, accounting for 7% of sales, and “Drive” not far behind at 6%.

 

When it comes to the highest average sale prices, however, the tables turn significantly.

 

Addresses ending in “Hill” topped the table, with a typical price of £335,000.

 

Despite this, the street ending “Hill” only makes up for 1% of all transactions over the last year.

 

The next prestigious street name was “Park” at an average price of £272,500, closely followed by “Rise” at £270,000.

 

 

Are you looking to take advantage of a valuable street name? Book a valuation with us today.

 

 

 

Why most landlords are not planning to increase rents in 2021

 

As the easing of lockdown restrictions continues, it would seem that tenants are beginning to return to cities and resume their 'normal' lifestyle routines, drawn by reopened venues and attractions.

 

This reversed change in demand, paired with a recent shortage of properties available to let, is fuelling a rise in rental values across the UK.

 

However, the National Landlord Index has revealed that a large margin of landlords (90.2%) believe they have developed a good relationship with their tenants.

 

Following this, 82% have pledged to not increase rent throughout 2021.

 

The report highlighted the fact that many landlords are aware of their tenants' financial difficulties caused by the pandemic and are aiming to keep rent affordable in light of this.

 

On the other hand, only a small margin of landlords (18%) indicated in this survey that they intend to increase rent over the next 12 months.

 

The area revealed as most likely to see a rise in rent was London, with 35% of landlords stating they would be upping their prices, followed by the North West and West Midlands (both with 21% in agreement).

 

The report revealed that Scotland, the North East, East and Northern Ireland had the lowest number of landlords planning to increase rent.

 

We consider the needs of both our landlords and tenants.

 

If you would like to talk about this in more detail, please don’t hesitate to contact us or learn more about our services from our website.