This month's property update!

Firs Park Ave,London N21

A good size (c1700sqft) 4 bedroom semi detached house with a garage and 65ft private...

£715,000

Click here to read Firs Park Ave,London N21 .

Blakesware Gardens, London, N9

A delightful 3 bedroom, 2 reception room, semi detached family home with well proportioned...

£595,000

Click here to read Blakesware Gardens, London, N9.

Buyer affordability is improving

There is always a wonderful reason to move. Property is beautiful, from the details of a feature fireplace to a view of the sunset over your garden. The right home is an investment and a place to make memories and profound emotional connections. You may have your heart set on the perfect kitchen or an idyllic outdoor space, but the numbers need to be right.

Lower asking price
Asking prices have decreased in recent months, however this should not be viewed as a bad thing. The rapid acceleration in the value of property has been hasty, and world events have somewhat exaggerated things. The fact that the property market is readjusting to a more normal market is healthy, especially considering the steady gradual release of value. It is important to remember that borrowing less overall to buy your home is a good thing, as it reduces other associated costs.

Earnings
Many people are buying together, whether with a partner or a group of friends. This is a quick route to buying your home and gathering a deposit. Nobody can deny that the cost of living has increased, but the good news is that wages are rising. According to the Office for National Statistics, growth in regular pay (excluding bonuses) was 7.2% from February to April 2023.*

Equity
How long have you lived in your home? It’s more likely the longer that time is, the more equity you’ll have. That equity has accelerated rapidly in recent years. There is probably quite a big cushion to fall back on if prices fall a bit more. First-time buyers' homes are in good demand, meaning even if you bought within the last few years, you will have gained a lot of equity, giving you the chance to move into something bigger.

Communicate with your agent
There are no hard-and-fast rules when it comes to property. All homes are unique, as are the different areas in your region. Your needs as a home mover are different from your neighbour's. And today, agents have the means to connect you with buyers and sellers like never before. State-of-the-art tech, in the form of databases and marketing tools, alongside good old-fashioned experience and local market knowledge make it all the more important to get in touch with a reputable estate agent. Ultimately, this means that your estate agent is pivotal in finding a way for you to get the keys to the home you want.

Find your dream property, get in touch to make it a reality

Office for National Statistics*
Moneyfacts*

Which sectors should landlords invest in?

As of July 2023, an average of 187 prospective tenants registered with agents, compared to just 127 in July 2022.* This surge in demand is not limited to any particular sector. Whether you're considering apartments, terraces, or converting existing properties into flats, now is as good a time as ever to invest. It’s no secret that the industry is going through an overhaul, and things are not as simple as they use to be. But if you stop to take a look around, there are so many opportunities right now that promise a profitable future for landlords.

Compact living spaces
Investing in compact living spaces is a smart move in today's market. Apartments and smaller homes are experiencing a surge in popularity, driven by young professionals and couples seeking convenient urban living. The same can be said of places in more rural locations. The appeal of these spaces is better energy efficiency, lower bills, affordability, easy maintenance, and a great choice of locations.

Energy-efficient family homes
Creating energy-efficient family homes is a win-win scenario for landlords. Not only will you contribute to a sustainable future, but you'll also attract a larger pool of tenants. In an era where environmental consciousness is on the rise, energy-efficient properties are in higher demand than ever before. Tenants are willing to pay a premium for homes that offer lower utility bills and reduce their carbon footprint. This demand translates into higher rental income, ensuring that your investment covers its costs and generates substantial returns.

Student accommodation
The student accommodation sector is experiencing a remarkable surge in demand and growth rates. As a result, student rents have surged by an astounding 30% compared to 2022.** This sector's resilience is driven by the constant influx of students seeking quality housing near educational institutions. By investing in student accommodation, you tap into a market that promises both steady rental income and long-term growth potential.

Holiday lets
Holiday lets are another lucrative avenue for landlords in the UK. Whether you choose a cosy city apartment or a spacious rural retreat, there's immense potential to earn substantial returns. The flexibility of holiday lets allows you to occasionally enjoy your property while reaping the financial benefits the rest of the year. The allure of staycations has further boosted the demand for holiday rentals, making it a prime investment opportunity.

The right guidance is the key to success
The landscape for landlords is changing. It’s never been more imperative to conduct your buy-to-let business by the book. The right guidance in sourcing and managing your property, combined with taking care of tenants, is a full-time job. Managed letting services are becoming essential. Keeping you from falling down any legal pitfalls, managing your property’s maintenance, referencing tenants, and so much more. Conditions and rights for landlords are set to improve with new legislation, such as the Renters Reform Bill. Making such legislation advantageous for landlords with the guidance of a good agent involves compliance for a better future for tenants and landlords. The right letting agent will keep you one step ahead, so your buy-to-let investment thrives.

Property mark*
Natwest**

Is there such a thing as a good time to move?

The best time to move is not always down to the seasons or market conditions, it’s down to you. The truth is, there are good reasons to move at any time of the year. Autumn brings about that lovely feeling of vibrancy and freshness with a multitude of colours, which can make you crave the change a new home brings. Winter is also on the horizon, and let's be honest, the countdown to Christmas has started. As the days grow shorter and darker, festivities like Bonfire Night, and Christmas focus our thoughts on cosy nights by the fire. But your moving story is as much about you as it is about your home.

Your home’s story is intrinsic to you
You may have improved your home over the years. Perhaps you have concentrated on making it more energy efficient. Have you developed a really good outdoor space or bought in an up-and-coming area? Even if you have purchased a modest property in the past five years, it will have increased in value considerably. Maybe you have outgrown your home or found that it’s too big for what you need today.

Invest in time
Today, many people are obsessed with the value of their homes, however time is also important. When you buy, you will no doubt keep your home for many years, and if you have owned your current home for a while, then you potentially have good equity. This may decrease in the short term but will increase in the long term. Using the services of a skilled agent who can judge the market will ensure you pay the right price for your property.

Delaying your purchase could cost you
It’s tempting to put off the decision to buy if you are concerned about property prices, but the reality is that rising mortgage costs could cancel out your savings while waiting for property prices to fall. Add to this, the long-term increase in the value of your new home as property prices begin to increase again, and you end up costing yourself even more money.

The property market
The UK property market is very resilient. Prices and interest rates change, but the long-term outlook is still one that spells out housing shortages which helps keep the market stabilised. Your home is in demand because of this shortage. However, there is still a varied and ever-fascinating selection of properties on the market. From grand ecological, energy-efficient designs, to humble terraced properties.

The right home
The perfect location, the sunrise in the morning, the fire at Christmas, the blooming garden in the spring or perhaps a house with greater energy efficiency. Whatever the reasons are for falling for a property, there are so many advantages to living in the right home. From finding more space to work from home, to simply reaping the rewards of a better sense of well-being; the right home can be financially advantageous.

Planning your future
Finding the right location that works for you and your family is important. Whether it is a better life in the country or an easier commute to school or work, agents are always worth talking to. Immersed in the latest property trends and in constant communication with buyers and sellers, there is no better source for information and providing a means to your dream property.

Book a valuation to explore your property options

Some questions you might not ask your agent when moving

You know the feeling. It happens during so many important events in life. You go on a viewing, it’s such an interesting and exciting process that you become a little flustered. You walk from room to room, loving what you see. You are enamoured and excited, so you forget to ask an important question. While you can always contact your agent at any time to gain more information, it's important to remember that your agent is an invaluable partner in your moving journey. So here are a few questions that you might not think to ask to add to your list.

If you are selling

How long will it take to sell my home?
Your agent is an expert in the market and area you want to buy or sell. So, while your agent can’t look into a crystal ball, they will be able to give you a good indication of how long it will take to sell your home. Agents are also dialled into local property trends. Your home is unique and may sell quickly.
What are the terms of your contract?
It’s important to communicate with your agent about all aspects of your move and never be afraid to ask too many questions. Different agents offer varying contracts, so it’s important to know the terms of yours. Talk to your agent about your individual requirements, and a good agent will meet your needs, and create a contract which will reflect them.
How quickly will my home appear on the market?
A good agent will value your home at the right price and take care of all marketing swiftly, from photographs to getting your property advertised. Estate agents today have a vast database of buyers ready to buy. Add to this the vast number of home movers that agents are in daily contact with, and chances are they may already have a buyer for your home in mind. And when it’s time to accept or reject an offer, your agent will keep you on the right path.

If you are buying

What is this area like to live in?
Whether you need to know the proximity to local transport links, schools, or places to carry out your hobbies, your agent will know. They will have sold properties and dealt with many clients in the area you want to move to or from. You will want to enjoy your new life as much as possible, and your agent will answer other key questions, such as where you can find the nearest good pub!
Can you help me negotiate an offer?
When it’s time to make an offer, a good agent is invaluable. Their vast market knowledge and experience when it comes to judging the market and the condition of the property in question are crucial. Ultimately, it’s your choice, but with the right guidance, you can pay the right price for the home you want.
If I improve the property, how much value will it add?
Whether you have already made some alterations or are thinking of buying a home with a view to updating it, your agent can tell you all you need to know. It could be that you are interested in making small improvements, like painting or decorating. Or you may decide on a grand design with the very latest in energy efficiency. The same goes if you add an outdoor space, a new kitchen, or convert the attic. Sometimes it’s better to get this information before you buy to see which property will give you the biggest returns.
From your mortgage to your big move
Modern estate agents can help with every aspect of your move, from getting the right mortgage to discovering a great buy-to-let investment. You will have many questions and maybe a few concerns. Moving can be stressful and full of legal pitfalls. You want every aspect of your new home to work for you, and a good agent can make that happen while supporting you, making for a happier home-moving experience.

Winchmore Hill

A spacious 3 bedroom, 2 reception room, semi detached family home occupying a sizable plot in a very sought after location offering bright...

£850,000

Click here to read Winchmore Hill.

Winchmore Hill

This 3 bedroom, 3 reception room, semi detached unmodernised house allows the buyer to create a property to their own choice and specification...

£725,000

Click here to read Winchmore Hill.

Newbury Park, IG2

Situated in a popular residential turning of Newbury Park is this well-proportioned two bedroom Victorian ground...

£250,000

Click here to read Newbury Park, IG2.

Winchmore Hill, N21

An unmodernised 2 bedroom, first floor maisonette with its own street access set in a quiet backwater close to...

£385,000

Click here to read Winchmore Hill, N21.

Winchmore Hill, N21

A beautifully presented 2nd floor 2 bedroom purpose built apartment in a private block offered...

£335,000

Click here to read Winchmore Hill, N21.

Winchmore Hill, N21

An unmodernised 2 bedroom, first floor maisonette with its own street access set in a quiet backwater...

£385,000

Click here to read Winchmore Hill, N21.

MIRROR12 March 2024

Find tickets for Mirror at The O2 in London on 3/12/2024 at 6:30 PM

Click here to read MIRROR12 March 2024.

‘For Sale’ signs are sprouting up like daffodils

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.

Improved market conditions all round

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 in a competitive 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.

Zoopla*

How the market is warming up for landlords in 2024?

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.

Zoopla*

Rightmove**

February 2024 is bringing a fresh breeze of buyers and sellers

With a greater sense of optimism in the air, lowering mortgage rates, and a compelling choice of properties to entice you, the UK property market is feeling good. A new year always brings new trends, fresh ways of buying, interesting properties, and a fresh influx of homemovers. Now is a good time to open your mind to the endless possibilities.

Mortgage rates are falling below 4%
With sub 4% mortgage rates making a welcome appearance on the mortgage market, homemovers are excited and relieved. For many years, mortgage rates were unrealistically low, and this has created the perception that today’s rates are higher than they actually are. Mortgage rates will not in the foreseeable future return to super-low levels, and those who know this are making their moves and getting increasingly better deals. After all, you can always change your mortgage deal in a couple of years.

Homes finding new owners
More buyers means more sellers, and all bring their properties to the market at some point, for you to buy, or for them to buy yours. This hive of activity keeps the market buoyant at this time of year. Spring is just around the corner, and this is often one of the best times of the year to move thanks to longer days, and warming weather to enjoy viewings. If you decide to join the party, your agent’s database will be teeming with homemovers and may already contain the right buyer for your home.

New trends
Create your perfect work-from-home space by selling up and moving to your dream location. Making the most of your home’s equity by purchasing a buy-to-let investment or holiday let is still a very appealing option. First-time buyers can spend up to £600,000 with a 5% deposit thanks to the Mortgage Guarantee Scheme, which has been extended until June 2025. Sustainability, energy efficiency, compact living, and smart technology are also growing in popularity.

A settling market
If you are a buyer, better mortgage deals and solid pricing that represent good value put you in a good position to move, thanks to a slowdown in house price inflation in 2023. You will get a good price for your home if you are selling, and you will enjoy good value if you are buying. These are ideal conditions for finding a great property and settling down. When the property market feels calm, it makes for a more pleasant moving experience. With good guidance from an experienced agent, moving home does not have to be a stressful experience.

Inspirational properties
Sustainability and energy efficiency are blended with fun and functionality, defining your spaces but allowing them to feel connected. The growth of smart homes and smart energy, fitted with smart appliances, promises to make your life easier. Features such as glass roofs and glass-door walls, with modern, clean designs leading to homely outdoor garden spaces, even in compact homes, make for inspirational viewings. Architectural styles from every era offer space with style and a sense of timelessness with modernity in magical settings.

House sales are bucking the trend

The housing market has once again proven resilient despite residual uncertainty as we move into 2024. According to Zoopla*, new sales agreed ran 17% higher in November than they were at the same time in 2022, while buyer demand has climbed by 19%.* .

Tentative signs of growth

Confidence in the market has taken a series of hits over the past couple of years, starting from November 2022 following Kwasi Kwarteng’s Autumn ‘mini-budget’ announcement.

Today’s market has recovered nicely with an increase in the number of homes available for sale – up 25% in the last year – boosting choice and supporting sales.*

Zoopla also reported a further drop in mortgage rates, with some incredibly competitive rates for borrowers with a 60% LTV*. This is set to strengthen affordability and boost buyer demand in the coming months.

With the help of a trusted letting agent’s skills and knowledge, you can diversify your portfolio and experiment with different projects to see what works best for you.

How to time your move

While conditions are improving, the housing market is in a constant state of fluctuation; so, timing is everything. By considering seasonal nuances, market trends, and personal schedules, you can make an informed decision for your move.

Seasonal considerations

Each season will have its renowned pros and cons for moving. There is a lot of misinformation online about seasonal market dynamics, so it’s important to speak with a local agent who can provide you with accurate and localised data to help you weigh your preferences against practical factors.

Create a timeline

Moving is a step-by-step process which takes a lot of time. You can stay organised and even speed things up by developing a detailed timeline for your move. Consider when you will start packing, which dates the kids are off school, and when to hire tradespeople. This should provide you with a clear and realistic idea of what date you can get moved in by, allowing you to plan around work and any other commitments.

Should I put my house on the market before looking?

Having your home on the market while you’re looking for your next will put you in a stronger position as a buyer. When the market is competitive, some sellers may even sell their homes first and rent for a while so that they can be chain-free buyers. Your position as a homebuyer is strengthened if your home is already under offer or sold, as this shows sellers that you’re a serious buyer who can move in quickly.

Winchmore Hill, N21

This c1470ft2 3 bedroom, 3 reception room, semi detached unmodernised house allows the buyer to create a property to their own choice and specification in a sought after road which is close to well...

£725,000

Click here to read Winchmore Hill, N21.

Edmonton, N9

An absolutely delightful, well proportioned, well laid out and attractive 4 bedroom, 2 reception room, 2 bathroom family home offered in great decorative condition with a sizable private and pretty...

£700,000

Click here to read Edmonton, N9.