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Well, what a month it’s been! The UK property market is currently enjoying a continued boom with prices expected to continue rising in the coming months.
Here’s our round-up of some of the key headlines for May.
Average asking prices have reached a record high
According to listings website Rightmove, average property prices have reached an all-time high during May, with the average asking price now sitting at an impressive £333,564.
This represents a £5,767 increase from April, or 1.8%, and this trend is predicted to continue well into 2021 as buyers take last-minute advantage of the extended stamp duty holiday.
The two areas that have seen the biggest increase are Wales and North-West England, where asking prices have risen by 13% and 11% respectively since March 2020.
London has seen the smallest increase, with the average asking price up by just 0.2% in the same period.
Demand continues to outstrip supply
The key reason why average prices have shot up in recent months is due to a large increase in buyer demand, coupled with a shortage of properties available.
Homes with gardens or at least some outdoor space, are in particularly high demand, as buyers that are perhaps fearful of future lockdowns look for extra space and fresh air from their next property.
The market has also been boosted by the number of buyers who have used the lockdown period to save more than they would have done in normal circumstances, leading to an increase on their initial budget.
The North-West is the UK’s ‘Property Hotspot’
Rightmove recently published a list of the 10 towns and cities across Britain that have seen the biggest increase in asking prices over the past year, and seven of those are in the North-West.
Wallasey in Merseyside is in the number one spot, where prices have increased 15.6% on average in the past 12 months.
The average property price in Wallasey is £176,707, which makes it an attractive proposition currently.
Eviction Ban on Renters to end on 31st May
The government’s ban on rental property evictions enforced by bailiffs will end on 31st May.
The ban was introduced during the coronavirus pandemic to help protect renters, particularly those with Covid-19 symptoms, or anyone who was self-isolating.
However, as restrictions continue to be eased, eviction notice periods will be reduced from the extended six-month period to four months from the 1st of June.
If restrictions continue to ease as planned, then this will be further reduced from 1st October, with the notice period usually being around two months.
Renters are Heading Back to the Cities
While buyers are increasingly looking for properties with more space in the suburbs, the opposite can be said for renters.
Listings website Zoopla has reported an increase in demand for rental properties in a number of the UK’s major cities, which has been fuelled by a drop in average monthly rents.
London has seen the biggest fall, with average monthly rent down almost 10% compared with 12 months ago. Smaller drops have also been seen in Manchester, Leeds and Edinburgh, which has led to a steady increase in renters heading back to the cities as restrictions continue to ease.
Stamp Duty Holiday to End on 30th September
The stamp duty holiday that has been in place since last July will end completely on 30th September, the government has confirmed.
The tax break has been a key driver in boosting the property market during the coronavirus pandemic, with properties costing £500,000 or less having no stamp duty payable on them, as the government have fought to keep the property market going.
However, the pre-covid threshold of £125,000 will apply again from 1st October, with a phased decrease in place prior to this.
Many buyers are rushing to complete property purchases by the 30th of June, as the threshold will be lowered to £250,000 from 1st July, before dropping again on 1st October.
The stamp duty holiday has saved buyers up to £15,000 and has been largely credited with keeping the property market alive during the national lockdowns, as the housing market has thrived.
However, with the change in threshold from 1st October, along with the end of the government’s job retention scheme on 30th September, many property experts are forecasting a dip in the property market towards the end of the year meaning that now could be the ideal time to get your property on the market!
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Many homeowners do not have the time, money, or desire for the upkeep required to maintain a vibrant natural lawn.
Without real grass, it can be a struggle to know how to fill your garden, especially for those looking for a relatively low maintenance outside space. While decking, patio or even gravel could be used, an artificial lawn will provide the warmth and comfort we long for in a garden, without the hassle of the natural alternative.
Artificial Grass is a Low Maintenance Option
Artificial grass is the perfect choice for those who want to achieve a beautiful garden in Tameside without the upkeep – ideal for families with busy lives.
A quick, regular brush is all that a synthetic lawn requires to keep it looking amazing. Whereas, a natural lawn needs frequent mowing and weeding, which is a time consuming and manual task. Additionally, the artificial option means that no watering is necessary, and as we emerge from the depths of winter, your lawn will already be looking spring-ready and fabulous.
Without the environment created by a natural lawn, insects will no longer be attracted to your outside space. Meaning, you will have fewer pests to worry about, particularly relevant if you have small children who enjoy the garden.
Artificial Grass is Durable
Artificial grass can endure much more than a natural lawn. It is highly durable and often lasts more than 15 years.
However, there is an obvious disadvantage to this durability. Should your synthetic lawn become damaged, it will need repairing. Whereas natural grass will heal itself.
Artificial Grass Provides a Pet-Friendly Solution
The gardens of busy family homes with pets can often end up destroyed. This is because natural grass simply cannot endure the heavy traffic of the spring and summer months.
Additionally, dog urine can be highly damaging to grass and will often leave the lawn patchy and uneven.
Artificial grass eliminates these issues, even in the busiest of households.
Artificial Grass Looks Fantastic
A decade ago, the colour of artificial grass was too bright, and the texture was too rigid. As it grows in popularity, the options become more varied, and the styles appear more natural.
There is now a range of colours and patterns on offer, with different textures and tones to give the most organic appearance.
Natural lawns can often become patchy and heavy rainfall can leave our gardens sludgy and practically unusable. Conversely, areas where the sun does not reach, such as under trampolines, become dry and brown.
If you dream of a plush span of greenery without the regular maintenance, then an artificial lawn may be the solution.
Artificial Grass is a Fantastic All-Rounder
One of the most significant benefits of artificial grass is that it is the perfect all-rounder.
You can confidently host a garden party or BBQ without worrying about anyone dragging dirt into your home. Additionally, it is ideal for children to play on, providing the soft texture of grass without any of the mess.
Artificial Grass can Ease Allergies
Over 10 million people in the UK suffer from Hay Fever. Particularly prevalent in the spring and summer months, it can be a huge deterrent to getting the most from our gardens.
For those that are especially susceptible to grass allergies, an artificial lawn allows you to enjoy your outside space, even in the height of allergy season.
Artificial Grass is Low Cost
A decade ago, the cost of artificial grass was staggering. But this is no longer the case today.
Whilst the initial cost of artificial grass may be slightly more than a natural lawn, fake grass requires no maintenance. So, over time, synthetic grass can work out to be the most cost-effective solution.
Are there any Disadvantages to Having Artificial Grass?
- Although generally not a massive issue in the UK, artificial grass can become extremely hot. In the height of summer, the grass may not be suitable for children or pets, and appropriate footwear must always be worn.
- Some find that cleaning dog waste from the garden can be more challenging. A spray may be required after removing the waste to ensure no residue is left behind.
- Artificial grass is made from plastic and therefore is not an environmentally friendly option. While the manufacturing process is rapidly improving, synthetic grass does not provide many of the benefits of natural grass, such as encouraging a habitat for wildlife.
- Synthetic grass lacks the overall finish that natural grass exudes. Although the aesthetics of artificial grass have dramatically improved over the last few years, it will always struggle to imitate the smell and feel of the real deal.
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As the warmer months approach, many of us are eager to make the most from our beautiful outside spaces.
Entertaining outside is a wonderful option for the warmer evenings that spring and summer welcome. It allows you to enjoy the company of your family and friends, whilst keeping your home immaculate.
We love entertaining outdoors, so we thought we would share our best outdoor entertaining tips with you!
1. Arrange A Relaxed Seating Area
Garden furniture does not need to be arranged in the same formality as you would inside.
Outdoor entertaining should be relaxed and informal, so spread your seating around to reflect this. Add plenty of cushions to your seats to soften the area and encourage your guests to relax.
Benches work really well, especially if you are entertaining for a large number. It encourages people to mingle and can work especially well when laying out food for your guests to enjoy.
2. Create A Mobile Drinks Station
Creating a mobile drinks station outside reduces the risk of muddy shoes being dragged through your home and allows guests to help themselves throughout the evening.
A small table on wheels works perfectly as a mobile drinks station.
Include glasses, cups, and straws, as well as drinks stirrers and napkins. Then simply add a selection of wine, spirits and mixers, and your guests can help themselves. You can also easily create a cool box using a plastic bucket filled with ice, which is excellent for storing beers and keeping them cold all afternoon.
As a great way to make children feel involved, add a smaller drinks cart for them to use. Fill the trolley with soft drinks and fun straws to keep the children entertained.
Just be sure to keep the trolley in the shade and keep the bottle opener nearby!
3. Let the Weather Guide You
Unfortunately, even in the height of our UK summer, perfect weather cannot be guaranteed. So, it is always recommended to hope for the best, but plan for the worst!
Large parasols can work well as sun blockers and help protect from the rain should an afternoon shower occur. Additionally, keep some blankets handy as the sun begins to set and the cold evening chill encroaches on your guests. Providing everyone is comfortable, there is no reason that a change in the weather should spoil your gathering.
4. Consider a Fire Pit
Fire pits are an excellent investment for your garden. As the sun sets and a chill appears in the air, a fire pit is a lovely way to keep your guests warm and entertained.
There are a vast array of options when considering a fire pit. Some homeowners opt for a permanent fixture in the ground, whereas others favour a temporary solution. If you don’t have a huge outside space, the portable version can be great for pulling out when visitors arrive.
Not only is a fire pit amazing for warming up your garden as the weather turns, but it provides the perfect place to toast marshmallows!
5. Consider a Picnic Area
If you have more guests than outdoor seats, consider setting up a picnic area.
Use a range of blankets and pillows to create a stunning picnic space for your guests to enjoy. This style helps embody the laid back, relaxed atmosphere most families want to emulate when entertaining outside.
6. Pre-Prepare Food
When hosting a dinner party inside, your guests will generally gather around the kitchen as you add the finishing touches to the meal. This can be a terrific time to spend with your guests whilst enjoying a drink.
However, when cooking for a garden party, you can become segregated from your guests and will struggle to be the best host that you can be.
Choosing light bites that can be pre-prepared beforehand allows you to spend the most amount of time entertaining your guests outdoors.
Pizzas, salads, and quiches are terrific options – all foods that can be enjoyed warm or cold and can be nibbled throughout the afternoon.
7. Create Soft Lighting
Building the perfect ambience when entertaining in the evening can be particularly tricky.
Bigger, brighter bulbs can make the lighting harsh and uneven, especially if you have a large outdoor space. Whereas opting for a range of softer outdoor lights with smaller bulbs will illuminate the garden. A mixture of small bulbs and fairy lights will be sure to set the right tone for your evening.
However, where alcohol, children or even pets are involved, it is always best to steer clear of candles. Whilst they give an incredible glow, they often offer more danger than reward.
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When you are a landlord, you should remember that people actually live in your property! It’s more than just bricks and mortar and an investment. It’s ultimately someone’s home.
There lies within property ownership a responsibility to tenants to make sure that they are safe. Indeed, it’s an obligation, and it’s a legal responsibility too.
For years, landlords have had to carry out regular gas safety checks, but new rules now mean that landlords must carry out electrical safety checks too.
Here, we set out what they’re all about.
The Government, which says it acknowledges many landlords are responsible owners, said it wants to make sure people are safe when they live in rented accommodation.
So, new guidelines were drafted, and those new rules came into force in June 2020 as the Electrical Safety Standards in the Private Rented Sector (England) Regulations 2020.
At the time, the Government said: “This is a major step towards levelling up the private rented sector, making sure it will offer high-quality, safe and secure housing.”
This is good thinking, and a welcome move, particularly when you consider that gas safety checks have been carried out for years now.
What do the new Rules Mean?
Landlords must now comply with the new regulations. They must have “the electrical installations in their properties inspected and tested by a person who is qualified and competent, at least every five years”.
A copy of the electrical safety report must be provided to tenants, and also to a local authority (like the council) if requested.
Basically, electrical testing has got to be done by professionals with the correct knowledge and skill.
Does this Apply to all of a Landlord’s Properties?
The new regulations must be adhered to, but there are two dates to be mindful of. The rules apply to new tenancies from July 1, 2020. This means for new tenancies that commenced after July 1, a safety report should already have been carried out. However, landlords have until April 1, 2021, for existing tenancies.
Can Anyone do an Inspection?
No. As the guidelines say, the inspection must be carried out by a competent person who is registered to do so.
What do the Inspections Cover?
Inspections are not about fridges of kettles or other small appliances or white goods. What they about are the fixed electrical things like plug sockets and lights, and also showers if they are electric and permanently fixed.
Tests will see if everything is safe or if there is a risk of fire or an electric shock. It’s pretty easy to see why an inspection needs to be done – and that is to protect life and property. Depending on what an inspection finds, action may or may not be required. Landlords must then carry out the work within a specified time, and there must be written evidence of this.
What Happens if Electrics Remain Unsafe?
Responsible landlords will want to get any electrical issues fixed and will take action to make good anything highlighted in the inspection report immediately. In the guidelines, if work is not carried out, local councils have the authority to serve a remedial notice on a landlord who must then get the job done. If they don’t, and the council is confident that landlord duties have been breached, it can inform the landlord that it intends to impose a fixed penalty – and this could be up to £30,000.
It makes good business sense to ensure properties are inspected, and it’s a legal duty now too, so we recommend that landlords get started and make sure their properties have been inspected.
Chances are, you’ll have been working with people you trust, but you must ensure they are competent.
If you are a landlord and have any queries at all, it’s better to be safe than sorry. Get in touch with us here at Alex Jones or call 01612929223 and we’ll run through the details with you.
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Selling a property can be a very confusing and lengthy process but having a good solicitor or conveyancer will help it to run as smoothly and efficiently as possible.
Here is an easy step by step guide to the whole conveyancing process.
Find a Conveyancer
The conveyancing process formally starts when you’ve accepted an offer on the property.
However, it’s recommended that you have a conveyancer in place before accepting an offer so that they can get the process started immediately and avoid delays.
When it comes to choosing a conveyancer, speak to two or three and get some quotes before deciding who to go with. Speak with our team at Alex Jones as we will be able to recommend too. Alternatively, if you have friends or family who have recently moved, find out who they used and if they were happy with them.
Don’t just go for the cheapest option, it could cause major issues further down the line if they cut corners!
Sign the Conveyancer’s Letter of Engagement and Verify Your Identity
Once you’ve chosen a conveyancer and discussed the fees involved, you’ll need to sign their letter of engagement. It’s only at this point that you commit to using their services. You will also need to verify your identity and address in the form of a passport or driving licence and supply a mortgage statement or utility bill for example.
Your conveyancer will send you some forms to complete, including a Property Information form and a Fittings & Contents form.
It’s vital that you complete these honestly, as failure to do so could lead to delays later in the process.
The Property Information form is where you tell the buyer about any changes that have been made to the property, such as extensions, solar panels or a loft conversion. You’ll also need to provide any supporting documents you have, so if your double glazing is still under warranty or you have paperwork to show that your boiler has been serviced in the last 12 months, you will need to provide copies.
When it comes to fittings and contents, you don’t need to decide what you’re leaving behind at this point, you can confirm later or leave it open to negotiation. Your conveyancer will be able to advise how to complete the form if you get stuck.
Speak to Your Mortgage Provider
Assuming that you have an outstanding mortgage on your property, you will need to contact your mortgage lender and inform them that you’re in the process of selling. They’ll be able to advise you about paying off your outstanding balance when the sale goes through, or porting your mortgage, which essentially means transferring it to your new property.
When your conveyancer has received your completed forms, they’ll draw up a draft contract to send to the buyer’s conveyancer.
The contract will outline which fixtures and fittings are to be included, along with copies of all the supporting documents you’ve provided.
It will also give a date for completion, which is typically around two to four weeks after the exchange of contracts.
The draft contract stage is usually the point where most of the negotiations take place, including the final price of the property.
It’s also at this stage where you’ll need to allow for the buyers to have a surveyor come in and inspect the property. Depending on the answers you’ve given in the questionnaire the buyer may also want other professionals to come in and carry out inspections, such as a plumber or electrician.
They may also request that you pay for the costs of any further inspections or repairs, but you will be under no obligation to agree to this. However, it’s at this point that a buyer may try to renegotiate on the final price of the property to take the extra costs into account.
Exchange of Contracts
Once the buyer is satisfied with the condition of your property and a final agreement has been reached on the price, including all fixtures and fittings, your conveyancer will exchange contracts with the buyer’s conveyancer.
Between Exchange and Completion
At this point both you and the buyer are fully committed to the sale of the property. You’ll receive the buyer’s deposit and if either party pulls out, they’ll open themselves up to legal action.
This is the day on which you hand over the keys to your property. The completion date is usually around two to four weeks after the date of exchange, but you can ask for this to be extended, or in some cases, shortened.
The date of completion is also the date on which you’ll receive the outstanding balance for the property from the buyer.
If you are planning on selling in the Tameside area soon, why not telephone us on 01612929223. We’ll be happy to advise you and help with your conveyancing needs.