News
01-01-10
New Year, New Home?
NEW YEAR, NEW HOME?
Whether it’s a promise to start the diet, join a gym or finally get stuck into that DIY project, most New Year’s resolutions end up being broken almost as soon as they have been made.
But many people resolve to make life changing decisions at the start of the year, such as choosing to put their house on the market and move to a new home.
While the housing market traditionally quietens down each December, estate agents are busy behind-the-scenes doing valuations and taking instructions ready to market properties in the New Year.
As a result, January can be one of the biggest selling months of the year.
Managing director of Swift Estate Agents, Nick Swift, says: “January is one of our busiest months. Anyone thinking of putting their home on the market in December will usually wait until January so they have got the Christmas tree and decorations out of the way before letting prospective buyers have a look around.
“Also, the extended holiday period between Christmas and New Year can be a time when people reflect on their lives and make big decisions such as choosing to move to a bigger, or smaller, house.”
So, if you’re thinking of making a move, what can you realistically expect of the local housing market in 2010?
Nick says: “There is always fresh optimism at the start of a year and local estate agents are generally upbeat about what next year has in store. Add to that the Council for Mortgage Lenders’ prediction of an increase in mortgage lending from £140 billion to £150 billion over the next twelve months, and it’s easy to see why we think things are looking up.
“As for house prices, there has been a shortage of homes on the market which has stopped prices falling.
“In 2008 we had ten properties on the market for every home buyer, in 2009 it was two properties and in January and February we’re expecting that to be just one property for each buyer. Buyers just don’t have the luxury of choice at the moment so there’s no better time for sellers to put their home on the market. In fact, we wouldn’t be surprised if January and February saw a slight uplift.
“All in all, we are expecting a positive start to 2010 and I’d advise anyone thinking of selling their home to instruct an independent agent who really knows the local community.
“For corporate estate agents, who have branches all over the place, it’s a numbers game and their over-riding aim is to maximise instructions, whereas Independent agents see their clients as individuals.
“Because we are smaller, with fewer properties on our books, we spend time getting to know each individual house, apartment or flat we are marketing and we are therefore better placed to offer a great service and, most importantly, make the sale!
“Your home is, after all, your largest asset, so make sure your sale is handled sympathetically and professionally by a local agent.”
If you are thinking about moving home in the New Year, independent estate agents and law firms at www.fastmove.info will be happy to help you.
Here at Fastmove, our recommendation is to ‘go local’ throughout the home moving process, using local estate agents, local lawyers, local removal companies local financial advice and other local support services.
This is not just because of the obvious benefits to the local economy, but also because local firms provide customers with the best possible service.
Eleven of the area’s most reputable agents have now joined our campaign to keep the home moving process local.
Alan Cummings & Co, Cross Keys Estates, Lang & Co, King Sturge, Mansbridge & Balment, Plymouth Homes, Portrait Properties, Richard Trowbridge, Seasons Estate Agents, Shobrooks and Swift Estate Agents are all fully independent companies owned by local people. As members of the Ombudsman or National Association of Estate Agents (NAEA) they are committed to do all that they can to make home moving easier.
Choosing an agency that carries the Fastmove sign means you will get a great service - all Fastmove agents commit to a code of conduct involving transparent pricing policies and ‘no sale, no fee’ arrangements.
Fastmove is a local initiative for faster and smoother home moves involving 25 law firms, eleven estate agents and many more local companies in the Plymouth travel to work area. Further information can be found at www.fastmove.info where there are links to all members.
01-07-10
Will the Demise of Hips Boost the Local Housing Market?
Local estate agents are reporting an increase in properties coming to the market since the Government's decision to scrap Home Information Packs - known as HIPs.
Hardly surprising, as obtaining a HIP usually involved a seller having to part with hundreds of pounds even before putting their home on the market.
With more houses on the market, are property prices likely to come down?
Not according to The Royal Institution of Chartered Surveyors (RICS) whose recent survey claims house prices are rising in most parts of the country, despite the suspension of HIPs and the subsequent boost in housing supply.
Local agent Ben Dreher of Mansbridge and Balment agrees: “We’ve definitely seen an uplift in terms of properties coming to the market.
“People who have seen a property they want to buy can quickly get their house on the market without having to worry about the hassle or cost of getting a HIP done.
“It’s freed up the market for sellers to take a speculative approach and we think more stock on the market means it’s a better market.
“We’ve got more to offer people and, as long as properties are priced accurately, they will continue to sell - we had a very good June”
Introduced in 2007, HIPs were intended to improve the home moving process by making the packs available to prospective buyers and therefore making it easier for them to obtain information about properties.
But they were criticised for being unhelpful, unnecessary and bureaucratic with some commentators arguing they made little difference to the home moving process.
As well as energy performance details, HIPs contained a report on water and drainage services and the results of local authority searches - switching the cost of searches from buyer to seller.
Sellers will still need to have commissioned, but not necessarily received, an energy performance certificate (EPC) before marketing can start. This means that a seller, or person acting on their behalf such as an estate agent, must have instructed an accredited Energy Assessor to carry out an energy performance assessment.
The EPC, which formed part of the HIP, is required under EU law and the fixed penalty for not providing one is £200.
While the abolition of HIPs is generally welcomed, spare a thought for the thousands of people involved in the production of the packs, many of whom may lose their jobs, although providers could still have a part to play in the market as buyers and sellers will require EPCs.
Still confused?
If you are planning to buy or sell property and you simply want a hassle-free and fast move, talk to the local experts at Fastmove – an initiative for faster and smoother home moves involving 25 law firms, 18 estate agents and many more local companies in the Plymouth travel to work area.
Look for the Fastmove logo which is your stamp of assured local quality and great value for money. Fastmove members are all committed to making your move as stress free and smooth as possible.
Further information can be found by visiting the new website at www.fastmove.info where there are helpful moving hints and links to all members. ...read more
01-06-10
What the New Government Means for the Housing Market
04-05-10
Moving Home... Should You Believe the Headlines?
Some recent media headlines will have made uncomfortable reading for homeowners, but should we in Plymouth believe the latest housing market hype?
The Mail talked of householders in a hurry to sell before the election ‘decimates’ the property market.
Closer to home, the Plymouth Herald reported that the election was ‘sparking a rush of houses on the market’.
But the reports behind the headlines do not appear have such a bleak outlook.
The housing market survey fuelling the media debate was released in April by the Royal Institution of Chartered Surveyors (RICS) and does indeed claim the number of people putting their homes on the market has picked up
But it also suggests house prices are continuing to rise and RICS members expect sales to increase, albeit at a slower pace, with prices likely to stabilise.
Property website Rightmove, which compiles prices of properties as they come on to the market, attributes the increase in vendor activity to the return of previously snowbound sellers, rather than the election.
It agrees prices are at a standstill, but cites a first quarter price gain of 3.7 per cent despite the impact of the severe weather at the start of 2010.
So, what is the true picture locally?
James Clarke, Director of Plymouth-based Lang & Co, says: “Our levels of instructions have remained pretty constant - we certainly haven’t seen a dramatic influx of properties on the market due to the election.
“For most people it is life that dictates when they need to move – such as new babies or children starting school– rather than any political agenda.
“Where we have seen policy affecting buying behaviour is with the recent stamp duty changes encouraging first time buyers to purchase properties above the previous £125,000 threshold.
“Spring is traditionally a buoyant time for the market, especially for larger properties and we have had a number of really high quality instructions in recent weeks.
“I would say prices remain stable which is quite positive for all of us – we don’t want peaks and troughs – and as long as the election doesn’t bring major changes to incomes or taxes I can’t foresee it having a dramatic effect.”
So if you’re thinking of moving, don’t let the headlines put you off! Talk to the local experts at Fastmove – an initiative for faster and smoother home moves involving 25 law firms, eighteen estate agents and many more local companies in the Plymouth travel to work area.
Further information can be found by visiting the new website at www.fastmove.info where there are helpful moving hints and links to all members. ...read more
01-04-10
Would you use a supermarket to sell your home?
01-03-10
Property matters - Motives for moving
01-02-10
Property matters: Moving home? Let Fastmove help!
01-03-10
Property matters: Motives for moving
01-12-09
No Need to Worry about Changes Ahead!
21-10-09
Moving Home? How to Avoid a Horror Story!
28-09-09
Estate Agents Launch Buy Local Campaign
28-09-09
Moving Home? Make it Easy!
11-09-09
Choosing an Estate Agent to Sell Your Home
05-08-09
Good News For Home Movers
Mortgage approvals by high street banks have risen for the third consecutive month. ...read more
04-06-09
Fastmove Solicitors - Go Local!
20-05-09
Legal Advice? Go Local!
22-04-09
Plymouth Ahead of the Game!
03-04-09
New Home Selling Regulations
23-03-09
What is happening to Plymouth’s housing market?
02-05-09
Raising the Bar as Local Initiative Meets the Law Society
16-01-09
New Initiative to Help the Housing Market
20-10-08
Cornwall Solicitors Join Forces
23-04-08
Make Your House Move Fast Movers!
04-04-08
Jeremy Enjoys a Good Vintage!
13-02-08
