We are very sad to hear the passing of one of our dearest Clients, Jhunu Miaya Dangol. She helped set up The Great Kathmandu in West Didsbury with her husband Gopal back in 1986.

On Monday 6th April, Mrs Dangol passed away aged 71, surrounded by her friends and family. Her funeral was held on Thursday 16th April, with a small group of family members able to attend. A procession was held on Burton Road, allowing members of the community to wave from outside their homes.

Mr and Mrs Dangol got married in the 1960s in Nepal before starting a new life in Manchester in the 1970s. Mr Dangol started his career as a chef at The Rajdoot restaurant, which currently resides in Albert Square, before opening up the Great Kathmandu on Sackville Street with a group of partners. After this he opened up a Nepalese restaurant with the same name in West Didsbury. Mrs Dangol ran the bar and knew the function of the restaurant, with no need for technology to assist her.

Though the restaurant began as a small venue with only six tables, it wasn’t long before word spread about their wonderful food. Growing in both size and popularity, The Great Kathmandu went on to win dozens of awards over the years.

Mrs Dangol will be missed by not only her friends and family, but also the community who knew her and of course, the team here at Joules.

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According to Guy Gittins, managing director of London estate agent Chestertons, the UK housing market should expect to bounce back once the current COVID-19 crisis has passed.

In a recent statement he said: “The bottom line is that people still need to move, still trust property as a solid long-term investment and are not expecting prices to change dramatically as a result of the pandemic.”

The ability to physically view a property is currently not allowed at the moment. However, estate agents and property sellers can rely on video viewings to show their home to potential buyers. This technological aid is currently helping to keep the sales market in the capital alive, albeit quieter than usual, until the UK housing market is back to normal.

According to reports by Chestertons, it generated 250 new sales offers and agreed 88 new sales over the first two weeks of lockdown.

Looking at March in its entirety, Chesterton’s properties received 13 per cent more in online viewings than it did in March 2019. At the same time, the agents have been registering over 500 new buyers per week since the lockdown began. Despite the days following the announcement being the quietest, activity picked up by the end of the week and has continued to be steady.

Gittins added: “Although normality sometimes feels like a lifetime ago, restrictions will be lifted at some point and once that happens, we are anticipating a bounce as the pent-up demand is released over the months following.”

What will happen to house prices next year?

Other estate agents predict that activity and prices should recover next year due to a release of pent-up demand.

Liam Bailey, global head of research at the property consultancy, said: “The housing market was in a strong position in January and February.

“A sharp uptick in sales and price growth was seen across the UK, with even the prime central London market seeing a reversal of a five-year price decline.

“While we expect a revival in activity to continue, with volumes next year expected to be 18 per cent above the level seen in 2019, this expansion in sales in 2021 will not fully offset the losses seen this year. Meaning that of the nearly 526,000 sales we expect to be ‘lost’ due to lockdown this year, less than half will be carried into 2021.”

Coronavirus is also likely to bring buyers a greater choice of homes for sale once restrictions are lifted, said Edward Heaton, of buying agents Heaton and Partners: “We are likely to seen an increase in stock over the next few months — as a result of coronavirus, sadly. We can expect probate sales; data from China suggests we’re likely to see an increase in the divorce rate from people who’ve been stuck together for all this time. And because of the pain that some people will be going through, they’ll be selling because of debt.

Get ready to sell your home with Joules Estate Agents

At Joules Estate Agents, we are available via email or over the phone and can give you advice regarding the property market in South Manchester. Working remotely, we are still able to help you sell your property when life returns to normal. If you would like to learn more about selling your home, get in touch.

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Given current circumstances, the Gov website has laid out guidance on how to move house during COVID-19.

Though there is no need to cancel any transactions between buying properties, everyone needs to follow guidance to stay at home and follow social distancing rules. If the property you plan on moving to is vacant then moving should not be a problem. If the property is currently occupied, it is advised that both parties agree to rearrange moving dates to when these measurements are no longer in place. However, there are exceptions to this rule when it comes to critical home moves, such as both parties being unable to set a new date.

It is also worth mentioning that when it comes to hiring a removal company, it is up to them if they wish to carry out the job or not. The company must observe social distancing and will require an email from the solicitor or client stating that this move is necessary should they get stopped by the police.

What does this mean for my property move at this time?
Homebuyers and renters should delay moving where possible during this time. If you have already exchanged contracts, it is advised that all parties should work together to agree to a delay or find another way to solve the issue.

In the event of having no choice but to move as a result of the terms of the contract, both parties must still follow guidance to stay as far away from each other as possible to minimise the spread of the virus.

Should anyone in your household present symptoms of the virus or are self-isolating, it is advised that you do not move unless it is absolutely unavoidable. All parties should prioritise the health of everyone involved and rearrange for another day.

What if an extension goes beyond the terms of a mortgage agreement?
It has been confirmed that mortgage lenders will work to find ways to support those who have already exchanged contracts and extend mortgages for up to three months. Should the customer’s circumstances or the terms of the house purchase change during this period, lenders will help them manage their finances as a matter of urgency.

If your home is not yet on the market
Though there should be no visitors in your home at this time, this does not mean to say you cannot speak with an estate agent and find out how to move house during Covid-19 or to get help selling. At Joules Estate Agents, we are available via email or over the phone and can give you advice regarding the property market in South Manchester. Working remotely, we can still provide services to help you sell your property when life returns to normal. If you would like to learn more about selling your home, get in touch.

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When comparing property prices online, have you ever noticed that the price is often lead with “offers in excess of”, “offers in regions of” or “guide price”? If so, you might be confused as to what they mean! Don’t worry, Joules Estates is here to break down the jargon!

Guide price explained: Offers in Regions of (OIRO)
“Offers in Regions of” gives the buyer a rough idea of how much the seller is asking for. Though they may prefer something higher, they are lenient and willing to accept something slowly lower if necessary.

In other words, there is more room for negotiation with the buyer. However, be aware that if you offer a lower price and another buyer offers something higher, you likely won’t be accepted. Properties with “offers in regions of” tend to be more competitive.

Offers in Excess of (OIEO)
An “offer in excess of” basically means that they would prefer the buyer to make an offer above the specified amount. This is usually laid out as a firm message that the seller will not accept anything lower. In some cases, it could be due to the seller has a clear idea of how much they want to sell the property for. Quite similar to a “fixed price”, there is next to no room for negotiation.

Auction Guide Price
If you are looking at a property at auction, you may see that the listing reads “guide price”. This is an indication of the seller’s minimum expectation at auction. It is not necessarily the figure that the property will sell for, as this is subject to change prior to the auction.

How do you know what to offer?
There are many things that could affect how much you should offer. As mentioned, competition plays a large role, especially for “offers in regions of”. If the seller is desperate to make a sale, they will likely negotiate on price. If not, they will likely be willing to wait for the best offer.

Another thing to consider is seller expectations. Though they may want a specific price for the property, does not mean it is worth it. Many sellers set their expectations too high, which could leave their property on the market for quite some time.

Find the perfect property for your budget with Joules Estate Agents
At Joules Estate Agents, we work with homeowners to give them the best value for their property, while giving the buyer best value for money. As we are well-acquainted with homes in the Heaton’s, we can find you the best property in the area that suits your needs and budget. Get in touch to speak with a member of our team!

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