Now could be the perfect time to get your property on the market as 2024 kicks off with more positive news. Last year, Zoopla* reported a 17% increase in new sales agreed as buyers sought to pin down new deals at the end of 2023.*

This influx in market activity appears to be rolling over into 2024, as mortgage rates continue to improve and buyers return to the market.
For sellers, house price falls are starting to slow down. This could be due to demand picking up, as some lenders are offering some very competitive deals for new borrowers at a 60% loan to value. This is great news if you’re hoping to achieve a quick sale this year.

It also appears that sellers who have waited for a more settled market can now cash in on the price gains they have been sitting on. According to Zoopla, the average UK home is now worth 18% (or £41,000) more than it was at the start of the pandemic in March 2020. * Because of this, we can expect housing supply levels to grow over the coming months as sellers make a confident return to the market.
Selling a property in a competitive market demands a thoughtful and strategic approach. Competition can be fierce during peak market periods, so you’ll need an expert on your side to help you navigate the selling process and achieve the best possible price for your home.

Understand market trends
It’s important to stay ahead of the curve by speaking with a local agent. They can identify supply and demand dynamics in your area and use this information to help set a competitive yet realistic asking price.

Price strategically
You’ll need to find the sweet spot for your property, so make sure to book an expert valuation as this will consider recent sales in the area, your property’s location, and the overall condition of your home.

Invest in effective marketing
Selling without an agent means you won’t have the same leverage online to reach the right audience. Digital marketing is a powerful tool, so you’ll need someone with an expert hand and an established network. However, traditional methods of marketing hold just as much influence, so make sure to ask your agent about their brochures, flyers, and local advertisements.

Responsive communication
When the market is busy, you need to make yourself stand out to potential buyers. Time is of the essence, so make sure to respond promptly to all inquiries and work closely with your agent by providing them with comprehensive information on your home. It will also put you in good stead to be accommodating with viewings, as you may be able to offer a booking slot which your competitor cannot.

Negotiation strategies
It’s important to have a skilled negotiator on your side who understands your property’s true value. Let your agent know if you’re willing to be flexible, as this could be the key to a successful deal.

 

Are you ready to sell your home? Get in touch with our expert team to find out how we can help

Zoopla*

 

Whether you’re an experienced landlord looking for new investment opportunities or looking to take your first steps to becoming a landlord, the market is looking promising as we settle into 2024. Let’s look at how the rental market is shaping up and how you can benefit from it as a landlord.

Rental prices are on the rise
One of the main reasons you should be feeling optimistic as a landlord is that rent prices are predicted to continue rising. According to Zoopla’s rental index, average rental prices increased by 9.7% across 2023, increasing income for landlords.* It is predicted that average rent prices will increase by a further 5% this year*, further maximising return on investment for landlords, who could use this added income to expand their portfolio or make improvements to their existing properties.

Mortgage rates have decreased
More positive news for landlords is the recent announcement that mortgage rates have decreased, making property investment more affordable. These days, it’s possible to get a 5-year fixed-rate mortgage below 4%, meaning you can obtain a better deal when investing. As banks fight for business, increasingly attractive deals are becoming available.

Better deals on buy-to-let mortgages will also appear, which will help you expand your portfolio and increase your rental income. With lower interest payments, a larger proportion of your rental income can be distributed towards property maintenance and upgrades to increase the value of your existing properties and enhance the overall profitability of your portfolio. You also have the option of refinancing your existing mortgages at the new interest rates, reducing your overall borrowing costs for the entire duration of the mortgage.

There is plenty of choice
Now is an opportune time to search for new properties to invest in, as there is currently a high volume of properties on the market. On Boxing Day 2023, over 10,000 new properties were listed on the market, which is the largest number of new listings in a single day since 2011.** With an abundance of properties to choose from, you can select those that align with your investment goals, budget, and target market.

 

This high supply of properties will allow you to diversify your portfolio and spread your investments across several types of properties. For example, you may decide to buy a larger property and convert it into a Home for Multiple Occupancy (HMO), which often produces higher rental yields than regular lettings.

How an estate agent can help you
If you’re looking for properties to invest in, an experienced estate agent will conduct a thorough market analysis to understand the trends and dynamics affecting property prices in your area. This knowledge will allow you to set the right rental price, maximising your rental income while remaining competitive in the market.

Additionally, an estate agent will identify strong investment opportunities and negotiate a competitive price for any properties you may be interested in, maximising your return on investment.

 

Whether it's freezing cold or scorching hot outside, adequate insulation is essential for maintaining comfort inside your home while keeping energy bills to a minimum. Let's look at the impact of insulation, how you can insulate your home, and how it helps lower your energy expenditure.

The importance of good insulation
Insulation plays a crucial role in maintaining energy efficiency and keeping warmth inside your home by reducing the exchange of heat between the outside and inside of your home. Good insulation helps to keep your home at a consistent temperature, preventing it from becoming too hot in the summer or too cold in the winter.

It also has other benefits, such as soundproofing your home and reducing the amount of moisture in your home to prevent damp.

The impacts of poor insulation
Inadequate levels of insulation can have a hugely detrimental impact on your home, as it can lead to unwanted temperature exchange through your walls, flooring, and roofing. It can cause inconsistent temperatures throughout different areas of your home, making it difficult to keep your home at a desirable overall temperature.

Poor insulation can also contribute to the growth of mould and mildew through a build-up of moisture, which could pose potential health risks to you and your loved ones.

Different ways to insulate your home

Draught-proofing
Blocking unwanted gaps around windows, doors, and floors can help keep the cold air out and the warm air in. Placing draught excluders against your doors and using sealant or filler to remove any gaps in walls and windows are good ways of preventing cold draughts rushing through your home.

Roof and loft insulation
The cheapest and easiest way of insulating your home is by installing loft insulation, which acts as a barrier to reduce heat loss by trapping air within layers of high-quality material such as mineral wool. According to the Energy Saving Trust, you could save between £260 and £475 a year by installing mineral wool insulation at a thickness of 270mm, depending on the type of property you live in.*

Underfloor insulation
Floor insulation forms a barrier that protects your home from the circulation of air beneath your property. This type of insulation is particularly effective in older homes that have suspended timber floors, compared to the concrete flooring commonly used in newer properties. Underfloor insulation can save you between £75 and £195 annually.*

Cavity wall insulation
The vast majority of homes built in the past 100 years have cavity walls, which are insulated by sealing the space between the inner and outer walls with cement. This type of insulation can save you somewhere between £145 and £520 per year.*

Impact on a home’s energy rating
Good insulation can make a huge difference on your home’s energy rating, as it acts as a thermal barrier to regulate heat transfer between the interior and the external environment, therefore reducing the demand for heating and cooling systems. By preventing draughts and keeping warm air inside your property, insulation helps to keep heating costs down in the cold winter months.

It is also useful for warmer climates, as it reduces the amount of energy needed to cool your home and keep it at a consistent temperature.

A home’s energy rating and insulation will be taken into account when a surveyor calculates the value of your property. Therefore, if you’re looking to sell your home, good insulation can help you achieve a higher sale price.

The Great British Insulation Scheme (GBIS)
Cavity wall, loft, and roof insulation are all available under the Great British Insulation Scheme (GBIS). To qualify for the scheme, your property must be in council tax categories A-D in England or A-E in Scotland and Wales and have an Energy Performance Certificate rating of D or lower.

Your local estate agent will be able to check your eligibility for the scheme and help you with your application.

 

Contact us today if you’re looking to move to a more energy-efficient home

Energy Saving Trust*

 

There are many factors that can have an impact on the value of a property, but one that people often overlook is whether or not it is located within a school catchment area. Let’s take a look at what school catchment areas are, how they affect property value, and how you can benefit from them.

What are school catchment areas?
School catchment areas are geographical boundaries that determine which students are eligible to attend a particular school. Children who live within the catchment area of a particular school have an increased chance of being offered a place there.

How are catchment areas calculated?
The method of measuring catchment areas differs between schools, but there are four main ways in which they are calculated:

• Straight-line catchment – A child who lives within a specified distance measured in a straight line from their home to the school will be prioritised.
  
  
• Walking distance catchment – A child who lives within a specified distance measured along safe walking paths from their home to the school will be prioritised.
  
  
• Nearest school catchment – A child is prioritised at the school nearest to them in distance.
  
  
• Priority admission catchment – A child who lives in an area that is a defined neighbour of a school will be prioritised.

How do school catchment areas impact property value?
According to GOV.uk, property prices near the 10% best-performing primary schools have an 8% higher average value than homes in the surrounding area.* Homes within catchment areas of the 10% best-performing non-selective secondary schools are also priced 6.8% higher.* This is primarily due to the high demand for properties within certain school catchment areas, as families look to give their children the best education possible.

The benefits of moving to a particular school catchment area
Whether you already have a family or you are looking to start one, moving to the catchment area of your school of choice can hugely benefit your children’s education. Not only does living in your desired catchment area greatly increase the likelihood of your child being accepted into the school, but it also results in shorter commute distances, making life much more convenient for you and your family. By moving to a home near a top-quality school with a gleaming Ofsted report, you can set your children up for life with a first-class education.

How your estate agent can help ?
Once you have carefully considered which school you would like your child to attend, it is crucial to enlist the assistance of a trusted estate agent. Using their detailed knowledge of local catchment areas, they can help you find suitable properties near the school of your choice and assist you with making an offer and negotiating the price.

Your estate agent can also help you if you’re looking to move out of a school catchment area by making sure the convenient location of your property is reflected in the price you receive for your home. They will make sure to advertise the fact that your property is in a school catchment area to attract potential buyers and maximise the amount you receive for your home.

 

Contact us today for assistance moving into or out of a school catchment area

GOV.uk*