UK house prices are continuing on their upward trajectory despite improving levels of available property coming to the market. The latest Rightmove data reveals that a sixth consecutive price record was achieved this month, rising by 0.4% (+£1,354) to £369,968.

A continuing desire to move and low numbers of homes for sale are driving further price growth even at a time when personal finances are becoming increasingly stretched. Buyer demand continues to exceed historically normal levels and is now 26% higher than at the same time in 2019, although down 7% on June 2021.

However, there are signs of the seriously depleted stock situation improving, with the number of sellers up by 13% compared with this time last year, but the number of available homes for sale is still 40% down on where it was in 2019. This significant shortfall from more normal stock levels will help to underpin prices this year, as there are simply not enough homes coming to market to correct the balance between supply and demand. The slow rate of stock recovery has led to Rightmove revising its 2022 price forecast, with 7% annual growth now expected by the end of the year across Great Britain, up from our 5% forecast at the start of the year.

Tim Bannister, Director of Data Services at Rightmove, comments: “Having more new sellers this month is a win-win for the market, as these sellers will likely achieve good prices for their homes given the sixth asking price record in a row that we’ve now seen, which may help to explain the increase in new stock coming to market over the last year.

“For those looking to buy, it means more choice, and a slight easing in competition against other buyers while the market is still moving very quickly. In the current fast-changing economic climate, those looking to buy who find a suitable home they can afford may choose to act now rather than wait. While more choice is welcome news, the number of homes available remains well below the more normal levels of 2019 and is unable to satisfy the continued high demand that we’re seeing.

“Though a softening in demand is moving the market from a boil to a simmer, it remains 26% up on 2019. With such an imbalance remaining between supply and demand, prices look underpinned, and we would therefore only expect typical smaller seasonal month-on-month falls, rather than more significant price falls in the second half of the year. This has led to us revising our annual price growth prediction for the end of the year from 5% growth to 7%, although this would still mark a slowing from the 9.3% seen this month.”

If you are considering a move this year, we’re here to help. Click here to book your free no obligation valuation.

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Holiday makers are being urged to better protect their homes while they’re away as new research reveals that as many as one in 10 of us leaves a key under a doormat or plant pot while they go on holiday.

According to a new independent study from Aviva, only three-fifths of travellers check all doors (61%) and windows (58%) are locked before they go away, while just 43% make sure sheds and garages are secure.

48% ensure valuables aren’t visible through windows, and just 19% put away garden furniture – acts which can help to prevent opportunistic thefts.

More surprising still, 9% puts a key under a doormat or plant pot, to allow neighbours to check on their properties while away.

This is in spite of the fact that 14% of people surveyed said someone had burgled their home in the past, while an additional 11% had experienced an attempted burglary.

The research has been carried out to help people to protect their homes as the peak holiday season approaches. Aviva data reveals July – September is a hot spot for UK home theft claims that occur while people are on holiday – an increase of 48% compared to other months of the year. The average value of this type of claim is more than £6,000.

Home theft claims that occurred while people were on holiday predictably fell during 2020 and 2021 but may increase during 2022 as people start to travel again. Separate research from the insurer finds that 43% of UK adults have booked a holiday for some time in the next 18 months, with a further 31% planning to do the same.

How residents protect their properties when taking a break.

40% of holidaymakers ask family members to check on their homes while they are away and 14% actually ask someone to house-sit. 27% leave lights on a timer to suggest someone is inside and 12% ask a neighbour to park on the driveway.

Most people appear to be savvy about using social media before and during their holidays. Only 5% share their holiday plans on social media before going and 6% share holiday snaps or plans while away.

Top tips to help people protect their homes while on holiday:

Don’t forget to lock up. Aviva research finds that two-fifths of people don’t check that their doors or windows are locked before they go on holiday.

Don’t advertise your holiday on social media. Before you travel and while you’re away, be mindful that countdown trackers and holiday snaps will let others know you’re not at home.

Leave a key with a trusted neighbour, friend or family member. But give the key to the person to look after – don’t leave under a plant pot or doormat where anyone could find it. Ask your trusted person to check for other internal issues such as water leaks, as well as signs of unwanted guests.

Make your home seem occupied while away: Use timers to switch on lamps and radios to give the impression of someone being at home.

Ask a neighbour to park on your driveway: Again, this suggests that someone is living at the property.

Consider investing in a burglar alarm and security lighting: Both are practical ways to protect your home and can act as a deterrent to burglars.

Mow lawns and trim hedges before you go: An overgrown garden is a giveaway that residents may have gone away. Lock ladders and tools away: Some burglars will have their own toolkits, but others are more opportunistic, so make sure sheds and outbuildings are locked.

Keep your valuables out of sight: Where possible, keep valuables away from windows. Similarly, don’t store valuables in the bedroom. Thieves know that’s where most people keep their precious items, so hide them in different spots around the home.

Kelly Whittington, Property Claims Director for Aviva UK, says: “So many people have postponed their breaks because of the pandemic, so summer 2022 is a fantastic time for holidays. But we’d urge people not to get so excited that they forget to carry out checks and leave their homes vulnerable while they’re away.

article courtesy of Property Reporter

Record asking prices are encouraging more people to sell up this summer, according to Rightmove. Welcome news for those of you keen to sell but struggling to find somewhere to move to.

Perry Bishop is here for you if you’re thinking about a move. One of our experienced agents can come out to provide you with an accurate and detailed valuation. Or, if you’re just interested in getting a quick idea of what your property is worth in a matter of seconds, use our online valuation tool. The choice is yours. Simply click here and leave the rest to us:

We look forward to helping you with your next move.

We care about property. We care about you

As the cost-of-living crisis takes hold some tenants may struggle to pay their rent. That’s why today’s landlords should consider some level of protection, particularly if they are reliant on the income from their rental property to pay their buy-to-let mortgage.

At Perry Bishop, when you choose our Enhanced Management service, Rent Protection and Legal Expenses Insurance comes as standard. You can also purchase this cover separately if you are on either our Classic Management, Let Assist or Essential service package.

Our Rent Protection and Legal Expenses Insurance* cover comprises:

• Rent Protection – Protection if your tenant doesn’t pay their rent.
• Rent Recovery – Tenants will be pursued to recover outstanding rent from them.
• Eviction of Tenants or Squatters – Tenants who can’t meet the requirements of their tenancy agreement or squatters who are living in your property without your consent will be evicted – and associated legal proceedings are covered.
• Property Damage – Legal cover to pursue tenants for damage to the property of over £1,000
• £100,000 Limit of Indemnity – The total amount payable in the event of a claim.
• Contract Disputes – Cost and expenses for a dispute with a party whom you have a direct contractual relationship with.

Perry Bishop partners with award-winning lettings platform, Goodlord, to deliver this policy, which pays out until vacant possession is obtained and includes 75% of rent arrears for two months whilst your property is vacant.

Ask Perry Bishop’s experienced Lettings team for further details.

 

* Rent Protection and Legal Expenses cover provided by Goodlord.

Terms and conditions apply, always read the policy wording.

Perry Bishop Lettings and Management are delighted to welcome Pippa Harding to the team. She joins as Property Manager, the lynchpin between the owners of the properties we manage and the tenants, dealing with all tenant-related issues and acting as a representative for the landlord.

Pippa is an experienced Property Manager, although for the last 8 years she herself has been a landlord, albeit for a popular Cirencester pub! She was born and grew up in Cirencester and knows the Cotswolds very well. When she’s not at work she and her partner love walking with their two naughty labradors. Pippa is also a great cook and occasionally hosts some outside catering events.

“Pippa is a brilliant addition to the team,” explains Tammy Powell, Senior Associate Director for Lettings at Perry Bishop. “She has very quickly familiarized herself with our clients and got stuck into resolving any issues promptly and professionally.”

Pippa is also mother to three children, five step-children and grandmother to six grandsons. She’s great, therefore, at spinning multiple plates! – a skill which is essential for her new role with Perry Bishop.

Pippa is based in Perry Bishop’s Stroud office.

The Government has published its long awaited plans for ‘a fairer private rented sector’.

The plans spanning 12 points promise to reform the private rented sector. These include:

1. Requirements for all privately rented homes to meet the Decent Homes Standard by 2030.
2. Running pilot schemes with local authorities to give greater powers to enforce housing standards and speed up adoption of the Decent Homes Standard.
3. To abolish Section 21 ‘no fault’ evictions and change tenancies all tenancies to a form of periodic tenancies.
4. Reform of the grounds for possession so that landlords have effective means to gain possession of their property with disruptive or anti-social tenants. Including new grounds for persistent rent arrears and for the sale of the property.
5. Rent increases limited to once per year and the abolishment of rent review clauses. Improved abilities for tenants to challenge rent increases at the First Tier Tribunal.
6. Introduction of a new single Ombudsman that all private landlords must join to allow tenants to hold their landlords to account.
7. Targeting the areas where there are unacceptable delays in court
8. A new Property Portal to make sure that tenants, landlords and local councils have the information they
9. Strengthen local authorities enforcement powers and ability to prosecute criminal landlords.
10. To make it illegal for landlords or agents to have blanket bans on renting to families with children or those in receipt of benefits and explore if similar action is needed for other vulnerable groups.
11. Give tenants the right to request a pet in their property, which the landlord must consider and cannot unreasonably refuse. To amend the Tenant Fees Act so that landlords can request that their tenants buy pet insurance.
12. To develop solutions to passport deposits.

The full details of how the Government intends to implement these ambitious plans remains to be seen. It is important to remember that these plans are not yet enshrined in law. Implementation will not happen overnight. Landlord and Agents should be given ample notice to ensure they are compliant. There is no need for a knee-jerk reaction from worried landlords to immediately seek possession of their properties now before the plans are implemented.

Propertymark, the leading membership body for property agents, has already set out broadly what they think reform should look like in their The Future of Renting paper, providing evidence of a shrinking PRS. They will be closely scrutinising the new White Paper and working with Ministers to help them understand how on a practical level it will impact letting agent members and their landlords

Perry Bishop’s experienced Lettings team are here to keep you informed of any upcoming changes over the coming weeks.

Read the Government’s White Paper in full.

Landlords, a reminder that new regulations state that all rented properties in England must provide a carbon monoxide alarm in rooms used as living accommodation where there is a fixed combustion appliance, such as gas heaters and boilers, from the beginning of October 2022.

The new draft rules amend the Smoke and Carbon Monoxide Alarm (England) Regulations 2015 where previously the requirement only applied to solid fuel combustion appliances, such as wood burners. The rules will, however, not extend to gas cookers.

The amended rules (Smoke and Carbon Monoxide Alarm (Amendment) Regulations 2022) include a new requirement to ensure when a tenant reports to the landlord or letting agent that an alarm may not be in proper working order, the alarm must be repaired or replaced.

The Draft Statutory Instrument was laid before Parliament on 11 May 2022 and once approved will come into force on 1st October 2022.

article courtesy of Propertymark

If you are a buy-to-let landlord in The Cotswolds, or you’re considering renting out your property, you may be confused by the many industry terms you find in use. That’s why the team here at Perry Bishop have put together this helpful jargon-busting guide so you can be better informed.

ADR – Alternative Dispute Resolution. This refers to an independent adjudication service that is provided by Deposit Protection Schemes.

Accidental Landlord – Somebody who has become a landlord unintentionally perhaps by inheriting a property or because they’re finding it difficult to sell their home.

AST – Assured Shorthold Tenancy – a legal tenancy category in Wales and England. Typically an AST lasts for six months after which the landlord can evict their tenant should they wish.

EICR – The Electrical Inspection Condition Report. It must be performed every five years in a rental property by a qualified electrician.

There is only one type of EICR report but they have been confused due to so many names. Below is a list of all the different names for an EICR Report:

• A Visual condition report – Only a visual inspection not a full EICR
• Periodic inspection reports – An old version of the report
• Electrical Installation Certificate – This is when you have a new circuit or full installation fitted
• Electrical Safety Certificate – This effectively does not exist but people use this term

EPC – Energy Performance Certificate. This certificate measures a property’s energy efficiency rating. Your property’s rating must be E or higher to be let out.

Gas Safety Check – Every year you must ensure a Gas Safe engineer has performed a safety check on the property. You must provide the tenants with a record of this check at the beginning of their tenancy and within 28 days of the check being completed.

Any property that has a gas supply legally requires a satisfactory Gas Safety Certificate (Also known as a CP12) in order to be rented out. There are many different types of gas appliances that you will commonly find in a home, for example a boiler, cooker/ hob and fire place – All of which will have to be tested by a gas safe registered engineer in order to produce the certificate.

HMO – House of Multiple Occupation. Your property is a HMO when facilities are shared by multiple families or individuals with no family connection.

Joint Tenancy – Two people or more who are renting a home together and have joint responsibility.

Long Let – A tenancy term lasting more than six months.

Occupancy Rights – The rights included in a tenancy agreement giving your tenant the right to occupy the property.

PAT – Portable Appliance Testing. This involves examining electrical equipment on the property to ensure it is safe for use. It must be done by a qualified electrician, preferably annually or whenever tenants change.

PCM – Price per calendar month – how much it costs to rent your property per month.

Right To Rent – Before you can rent your property legally to any tenant you must carry out a check to ensure they’re legally permitted to rent a home in England.

Section 21 – This notice must be given by the landlord to the tenant when they want the tenancy to end. You can only use a Section 21 after the end of the fixed term of the tenancy. A minimum of two-months notice must be given to quit the property.

Sub Let – If a tenant rents the property out, either in entirety or in part, to another individual it is said to be sub-letting. Tenants must obtain consent from their landlord to sub-let legally.

TDP – Tenancy Deposit Protection. This Government-backed scheme ensures that tenants can get their deposit back if they have met their tenancy agreement’s terms.

A landlord or agent must register the deposit with a Government backed scheme within 30 days of receiving it from the tenant.

There are several schemes available and two types of scheme. A custodial scheme is when the deposit is physically held by a third party in a separate bank account. An insurance based scheme is where the landlord or agent keeps the deposit themselves in a separate clients account.

Tenancy Void – A void is the time between tenancies when the home is vacant.

Wear and Tear – Deterioration of the property that occurs from the intended use of the rental unit or premises and not from negligence, carelessness, accident or abuse. Small scuffs on walls or worn carpets are examples of wear and tear. You cannot deduct this type of damage from the tenant’s deposit.

Young Professionals – This is a term that is typically used to describe someone in their 20s or 30s who works in a white-collar profession.

Hopefully, you’ll find this jargon-busting guide helpful. Here at Perry Bishop, we work hard to avoid the use of confusing industry jargon as much as possible when dealing with buy-to-let landlords.

Whether you are a first-time investor, professional portfolio operator or private landlord letting your own home, our award-winning lettings team is here for you – making letting your property easy and enjoyable through careful guidance and customer care. Call your nearest branch of Perry Bishop to hear more.

We care about property. We care about you. 

Home décor trends just keep on coming, but there’s one popular trend that seems to be a permanent fixture – bringing the outdoors indoors – and it seems that there is a scientific reason for this, since nature has been proven to have calming effects on humans.

It makes sense, then, to consider finding ways to add more greenery to your home if you’re looking to sell in the Cotswolds. But how can you create an oasis of nature that will have prospective buyers queuing up to make an offer on your house? Here are a few top tips to point you in the right direction.

Create Some Drama With Live Plants

Live plants are an obvious first choice when bringing the outdoors into your home, and the best place to begin is by adding some drama with a couple of trailing or tall plants. Placing trailing plants so that they cascade from a ledge or open shelf can be extremely effective, while a single tall plant strategically placed in your living space can be equally spectacular. One thing to remember when choosing houseplants is to pick the right containers. Terracotta or ceramic planters in neutral tones are the best options – avoid using plastic pots whenever you can.

Faux Greenery Still Works

Indoor plants may look beautiful and may inspire people viewing your property to make an offer, but real greenery can be difficult to look after. Luckily, faux plants don’t need to be watered regularly and can look just as good. The trick is to choose faux plants that look natural at a glance – after all, it’s the green appearance of plants that gives that ‘outdoors-in’ feeling that prospective buyers love. Faux succulents are particularly effective for brightening up dark rooms and are small enough to place anywhere – even on a coffee table or bookcase.

Adding Natural Elements

Bringing the outdoors inside doesn’t just mean adding plants to your room. You can enhance the effect by adding other natural elements to the space. In fact, if you use artwork, sculpture, photography, and decorative objects to represent nature and evoke the same feelings, you don’t need to add any plants to your rooms at all! Dried flower arrangements, natural-inspired objects carved from wood, pinecones, and pebbles, paired with natural materials like wicker, rattan, stone, and wood can work wonders in your home to create the impression of the outdoors indoors with minimal maintenance required.

The Perfect Finishing Touches

If you’re preparing your home for sale in the Cotswolds and are considering refreshing your home décor in readiness, you may want to choose a natural colour palette. Earthy tones, greens, and blues are all popular choices and work well with your newly introduced greenery.

If you’re ready to sell a property in the Cotswolds, the team here at Perry Bishop is on hand and ready to help.  We look forward to helping you find a new home for you and your pot plants!

We care about property. We care about you.

For sellers in the Cotswolds or the Vale of the White Horse who are moving for the first time in decades, it can be a stressful time. There are many reasons why you may wish to sell your property after you’ve lived in it for countless years. You may wish to move closer to your family, or downsize, for example. However, it can be hard to take the plunge and you may not know how to get started with the process. The expert team here at Perry Bishop have some top tips to point you in the right direction.

The Principles Haven’t Changed

Although you may find the idea of selling up rather daunting, it’s important to remember that the principles haven’t changed since the last time you moved home. You still need to market and present your home well, ensure it has an appropriate asking price, and get a good conveyancing solicitor and estate agent to work with you. If you visit our website you can find out more information about the rest of the selling process.

Cleaning Out Your Home

When you live in a house for any length of time, you accumulate a lot of items! It’s important to have your home tidy and clean when prospective purchasers come to view it. Therefore, it makes sense to start getting rid of any items you no longer want or need before listing your home for sale. Here at Perry Bishop, we can give you helpful advice about how to best present your property for sale.

Dealing With Your Emotions

One element that may surprise you is how emotional your move may be. As you pack away your belongings and clear each room, you’ll find items with sentimental value and need to decide what to do with them. Whenever possible, ask relatives or friends to help you with this process, and schedule some time every day to complete this task so you can overcome your emotions and feelings by the time your moving day comes around.

I Haven’t Got A Property To Move To Yet – Should I Consider Selling?

You may believe you can’t start the selling process if you haven’t found another home to move to, however that isn’t the case at all. In fact, you could find it easier to secure another property once you’ve already sold your existing home, since sellers may not want to wait for your sale to go through.

There is a high demand for property in The Cotswolds and the Vale of the White Horse at the moment, so there’s never been a better time to list your home for sale. Should you make a rapid sale, you’ll still have a number of months before the transaction is complete during which time you can negotiate the terms under which you’re happy to leave your property. Keen buyers will almost always be prepared to wait. At Perry Bishop you can also take advantage of our  Low Key marketing service – rather than being fully marketed, only buyers willing to wait for you to find your next home are notified about your property.

If you’re ready to put your property on the market, or if you’re ready to learn more about the process of selling your home, don’t hesitate to get in touch with us today.

We’re looking forward to helping make your move a smooth and stress-free one.

We care about property. We care about you.