Rightmove’s monthly House Price Index gives a national picture of house prices and activity over the past few weeks. Here are the main take-outs from their latest report, published yesterday:

• New national record for average price of property coming to market, with a 1.1% (+£3,534) monthly rise
• Prices now 5.5% (+£16,818) higher than a year ago, the biggest rate of increase for over four years, with Rightmove now forecasting annual growth rate to peak at circa 7% by December
• Activity levels also hit three new records in September, though there are now some signs of this extraordinary momentum easing off in October:
• Average time to sell of 50 days is quicker than ever before, leaving agents with more properties marked as sold than available for sale for the first time ever
• Highest number of sales ever agreed in a month, up 70% on September last year
• Traffic to Rightmove up almost 50% on September 2019, the biggest annual jump since 2006
• Number of active buyers 66% higher than a year ago, down marginally from 67% July peak
• Pace of growth easing but sales agreed for October so far still up 58% on same period last year

Here at Perry Bishop and Chambers activity throughout September mirrors the trends identified in Rightmove’s latest report. Our teams across Gloucestershire and The Vale of the White Horse have been exceptionally busy – listing, selling and most importantly helping people find and move into their first, next or forever home.

Applications are now open for Green Homes Grant Scheme

On 30th September the UK Government opened applications for the Green Homes Grant Scheme, which allows landlords and homeowners to apply for a grant of up to £10,000 towards the cost of making homes more energy efficient.

The Green Homes Grant Scheme

Under the scheme landlords and homeowners in England can apply for a voucher to fund at least two-thirds of the cost of hiring tradespeople to upgrade the energy performance of their homes, up to a maximum contribution of £5,000 or up to £10,000 for lower-income households.

The aim of the Green Home Grant is to upgrade over 600,000 homes across England, with the UK Government saying that this will save households hundreds of pounds per year on their energy bills.

Eligibility

You may be eligible if you live in England and:

• You own your own home (including long-leaseholders and shared ownership)
• You own your own park home on a residential site (including Gypsy and Traveller sites)
• You’re a residential landlord in the private or social rented sector (including local authorities and housing associations)

You cannot get the Green Homes Grant for newly built homes which have not been previously occupied.

The scheme is now open for applications.

Click here to apply for a Green Homes Grant.

Tammy and her team were delighted to learn this week that they have won a prestigious award – BEST LETTING AGENT IN STROUD – and that they they have now been shortlisted, alongside other area winners, to win a coveted national award.

THE BRITISH PROPERTY AWARDS are one of the most inclusive estate agency awards providers as they do not charge to enter. This has enabled their award to be structured in a manner that ensures maximum participation, on average judging over 90% of agents that meet their minimum criteria on a local level.

The team personally mystery shops every estate agent against a set of 25 criteria to obtain a balanced overview of their customer service levels. The judging criteria is both comprehensive and detailed exploring different mediums, scenarios and time periods to ensure that agents have been rigorously and fairly judged.

Only agents who go that extra mile and provide outstanding levels of customer service are rewarded with such an accolade, which acts as a beacon to highlight these attributes to their local marketplace.

“We are thrilled to have won this award, a great testament to the team’s dedication, hard work and exceptional customer service. In just two years we have built up a strong and loyal portfolio of landlords. Fingers crossed for the national awards,” said Tammy Powell, Lettings Manager at Perry Bishop.

Latest figures released from Homelet – The UK’s largest tenant referencing and specialist lettings insurance company – reveal that, for landlords at least, rents are begining to move in the right direction with the third successive monthly rise.

According to the data, the average rent in the UK now stands at £987, up by 0.2% on last month and up 4% from June where it stood at £951. When London is excluded, the average rent in the UK is now £828 – up by 3.9% on last year.

Ten of the twelve regions monitored by HomeLet showed an increase in rental values between September 2019 and September 2020, with the South West seeing an increase of 6.6%.

However, rents in London are down YOY, showing a 2.8% fall between September 2019 and September 2020, the fourth decrease in annual variance in subsequent months. Northern Ireland also shows a yearly decrease, with a 2.4% fall between September 2019 and September 2020.

Seven of the twelve regions monitored showed an increase in rental values between August 2020 and September 2020, with the North East seeing the biggest increase of 2.2%. In September 2020, the average rental value in London of £1,646 was 99% higher than the rest of the UK, excluding London (£828).

Martin Totty, chief executive at HomeLet, comments:

“Whilst it’s undoubtedly the case many landlords are being supportive of their tenants and agreeing on temporary reductions or deferrals, it will be encouraging for them to see rents agreed on new tenancies, in almost all parts of the country, are continuing to hold up and generally edge forward.

“This is likely because tenant demand remains strong whilst supply may be a little more constrained if some landlords are selling into a stronger sales market, even if that could be a short term phenomenon. It also doesn`t help tenants much if, for them, the prospect of securing first-time mortgage finance remains as elusive as ever.

“So, those landlords committed to the sector for the long term and having shown their willingness to confront the multiple headwinds of taxation change; new regulatory requirements; and, in certain circumstances, longer notice periods to gain possession of their properties, may still be rewarded for their flexibility and their perseverance with reasonable returns on their investment risk.”

Article courtesy of Property Reporter.

Phillip Bishop, MD at leading independent estate agents, Perry Bishop and Chambers, shines a light on the current property market across Gloucestershire, Oxfordshire and Wiltshire, since the ‘new normal’ has been in place.

In conversation with Tim Thurston at Radio Swindon 105.5, Phillip explains the reasons why the market is currently so buoyant – covering the Chancellor’s announcement of a Stamp Duty Holiday, the exodus from the Capital and other cities and the changing criteria for people looking to buy in and around the Cotswolds.

Listen in full here.

 

If you want to take full advantage of the Stamp Duty Holiday (and save up to £15,000) you need to get a wiggle on, or your agent needs to! To complete your sale by 31st March 2020, you ideally want to accept an offer no later than the end of November this year.

Here are some tips to help you achieve this:

• Make sure your agent has realistically priced your property.
  If they overvalue your property you are not only likely to achieve a lower sale price but you are also likely to spend on average 9 weeks longer on the market.
• A picture paints a thousand words.
  Are your pictures the best they can be?
  Photos are very important to achieving a better price and quicker.
• Employ the services of a solicitor immediately.
  Bringing together the legal paperwork of the property you are selling will save weeks between the sale agreed and completion.
  Anything you can do to get a head start on others can only help your cause.
• Kerb Appeal
  Does the front door need painting? Could a tonne of gravel spruce up your driveway? Maybe adding some hanging baskets and planted pots will help to make a home stand out for the best reasons.

If you would like to chat about selling your home in Gloucestershire, Oxfordshire or Wiltshire, please do not hesitate to call your local branch of Perry Bishop and Chambers.

New regulation recently introduced could see unscrupulous landlords fined up to £30,000 if they do not comply with the rules.

Under the Electrical Safety Standards in the Private Rented Sector (England) Regulations 2020, landlords must now get wiring, light fittings, plug sockets and other electrical installations in renters’ homes checked at least every five years by a “qualified and competent” person.

The new rules are designed to strengthen electrical safety practices and bring in line with those already well-established within gas safety regulations in private residential tenancies have been introduced.

The London Fire Brigade’s deputy assistant commissioner for fire safety, Charlie Pugsley, said: “We are very pleased to see these new regulations come into force, which should be seen as a huge win for tenants who often have to battle with landlords to ensure their homes are safe.

“Most landlords provide well-maintained and safe accommodation for their tenants, but there are those that don’t and put people’s lives at risk. So it’s a positive step that tenants now have protection and the support of local authorities if landlords don’t comply.

“Sadly, we are all too aware of what the devastating consequences of faulty electrics can be and provided detailed data to the working group to shape the guidance.

“As these regulations do not cover electrical appliances, only fixed electrical installations, we would urge people to ensure their appliances are safe and always register them so you can be informed if there is a fault identified.”

If you’re a landlord and would like to take away the stress of keeping abreast of all lettings legislation, talk to Perry Bishop and Chambers Lettings team about our managed property service.

article courtesy of LandlordToday

Phillip Bishop, MD at Perry Bishop and Chambers, has some thoughts for property buyers and sellers who wish they could see into the future.

Don’t you wish that just once you could have a sure fire tip about the perfect time to buy and/or sell an investment?

If only you or your parents had known to invest in a small Californian computer start up company called Apple in 1976. An £800 investment then would be worth over £30 billion today.

Finding these tips and then acting on them is the stuff of legends. But it is still possible to do the right thing at the right time by listening to the right people.

For example, a good estate agent with great local knowledge knows exactly what is happening in the property market. So, if you are thinking of buying or selling your home, a good first move would be to get the best local advice.

And what would we, at Perry Bishop and Chambers, say if you asked us about the market right now? We would say that, following lockdown, we have not seen as buoyant or active a market as this since before the great recession in 2007/8. We would tell you that properly priced property is flying off the shelves. But we would also tell you that the property market is cyclical, and that sometime after this scramble to buy and sell is over, the market will eventually cool – it always does. It cannot stay like this forever.

Finally, we will tell you that now is as near perfect a time to buy and/or sell a property as you are likely to find, and that periods like this only come round every ten years or so. Plus, this time, there is Stamp Duty relief for many home buyers, and the lowest mortgage interest rates in history.

You’ll be pleased to know that we don’t charge for insightful property advice, and while we might not be able to turn £800 into £30 billion for you, we can help you make the most of what is probably your most financially valuable asset.

So, go on, make a legendary move . . .

We have some truly lovely clients and the owners of this beautiful farmhouse in Littleworth are no exception. To them it was important not just to find a buyer to enable them to downsize and reduce the responsibility of maintaining such a beautiful period home and the three acres of land in which it sits, but also they hoped to find a family who would love it as much as they do and who would bring something to the lovely village community that they have been a part of for so many years.

We were delighted to be able to secure them a buyer within five days of commencing marketing, a young couple with a young family who are beyond excited at the prospect of bringing their children up in such a lovely environment and such a friendly village community. Needless to say, we have a number of disappointed buyers as demand for period and village homes is particularly high right now. This is the second property in the same village to go under offer, where the sale was secured in less than a week! So if you are thinking of selling or struggling to sell with your current agent, please give us a call and we would be delighted to share with you our strategy for finding the best buyer, at the best price in the shortest time.

We love it when a plan comes together, one in which the buyer and seller are equally excited with the result. Fingers crossed for a smooth path to exchange and completion of contracts and moving day. With the helping hand of our very experienced sales progression manager Michelle at the helm, we anticipate this will be the case.

If you think we can help with your move please call your local branch of Perry Bishop and Chambers.

 

 

 

 

 

 

 

 

Time to make that aspirational move? Looking to live in a village with easy access to Gloucester, Cheltenham or Tewkesbury? Nup End Green, beautifully designed bespoke new homes in the village of Ashleworth, could be your next move.

Built by award-winning developers, Redcliffe Homes, Nup End Green has proved hugely popular with those looking to escape to the country, with the majority of this exclusive development now either sold or under offer. Just three houses remain – 2 x four bedroom detached and 1 x five bedroom detached.

Join us on Saturday 29th August, from 10am – 4pm, for a tour of Nup End Green and the three remaining properties.

Ashleworth, a relaxed and welcoming village community,  boasts a local post office, village shop, church, pub and excellent village primary school. If you’re looking for the best of both worlds – village life with swift and easy access to the hubbub of Gloucester and Cheltenham – Nup End Green is the perfect next move.

• Save up to £15,000 saving on stamp duty
• Take advantage of ‘Help To Buy’ which closes on 31st March 2021
• Part Exchange your own home

We look forward to showing you round on Saturday!

Nup End Green, Nup End, Ashleworth, GL19 4JJ

Call our Cheltenham office on 01242 246980 to reserve your slot or email: cheltenham@perrybishop.co.uk