current property market

Expectations from the Current Property Market

With the market for buying property in Stockport steadily getting back into the swing of things people have pondered on what the possible future holds for the Stockport buying and renting scene.

As the House Price index uncovered, Stockport held among the best year-on-year house price increases at 3.9pc. So why is this area on the increase during this time?

Lockdown Blues

Whilst it is plausible that browsing while in lockdown was a factor, the large percentage of increase in these early stages could be attributed to more research into properties before viewing them which in turn leads to people ready to buy upon viewing that the property is satisfactory in person.

Whilst this is making selling and renting of properties a quicker and more satisfactory drive to sign off on a property, physical house viewings have been on the increase with the number of sales on the ascension due to these new procedures to aid in procuring interest and acquisition.

Estate Agent Aid

Estate agents have found new avenues to be mutually beneficial in communicating with prospective clients via these options, as many in lockdown have grown tired of their surroundings and opt for something new.

With the housing market facing the biggest challenge over the last five months due to the devastating effects of covid-19, forward-thinking estate agents have taken onboard these ‘new normal’ implementations to better service the industry and those affected by their housing needs during this time.

As Stockport is a progressive entity in many aspects, the adaptation to the needs of the housing industry is at the forefront of practice throughout it’s buying and renting scene. For those looking to sell their homes and buy new, Joules is the trusted independent estate agents giving the best advice on how to sell a house as well as buying property in Stockport.

Get in touch today for the latest property information.

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green home grants

Government Announces Green Home Grant Scheme

On the 8th July, Chancellor of the Exchequer, Rishi Sunak, announced the Green Home Grants Scheme in his Summer Statement. The scheme will involve the government issuing UK homeowners with up to £5,000 worth of vouchers to help make their homes more energy-efficient.

The scheme is part of a £3 billion green jobs package and aims to create 100,000 green jobs in the hope of recovering the economy following months of lockdown. The Treasury aims for approximately 650,000 homes to receive an upgrade. This can create utility savings of up to £300 a year for families, bringing the UK closer to its 2050 target of achieving net-zero carbon emissions.

Landlords and homeowners can apply for the vouchers from September, covering up to 66 per cent of the cost per household. This will help fund energy-saving upgrades such as insulation or double glazing. What’s more, low-income families may benefit from up to £10,000 of government vouchers to support improvement works.

Which energy-saving home improvements will be covered by the grant?

There is yet to be a published list of what the Green Homes Grant will cover, but here are some confirmed home improvements.

●     Wall insulation

●     Roof insulation

●     Double glazing on windows and doors

What can people do to save even more money?

●     Choose a green energy provider

●     Invest in solar panels

●     Swap to wind power

●     Install ground source heat pumps

●     Switch to solar water heating

Not only can the Green Home Grants Scheme help save you money in your home, but they can also add to the value of your property should you decide to sell. If you are looking to sell your home in the Heatons, there is no better estate agent than Joules. To learn more about our property services, get in touch.

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stamp beauty

Stamp Beauty!

The chancellor of the exchequer has today announced a radical & imaginative change to stamp duty. From today there will be a stamp duty holiday until 31st March 2021, on properties up to £500,000. Typically for buyers buying up to £250,000 that’s a saving of up to £2500 whilst if you are buying up to £500,000 you can expect to save as much as nearly £15000 . This is a massive incentive for people who are either in the process of buying a home or are considering the possibilities of purchasing. The idea is clearly to boost the property sector which contributes massively to the UK economy.

Recent research has suggested people who were considering moving before lockdown are largely inclined to still do so. These measures could well act as a tipping point which is clearly the intention. In truth the property market in the south Manchester area & into Cheshire has been buoyant since the government allowed activity to recommence 6 weeks ago. More supply is needed for the demand & hopefully that will also be achieved by the new stamp duty thresholds. The chancellor also announced a package of measures to encourage the employment of young people with a message that “jobs, jobs, jobs” is the name of the game.

Once again this is an intention to promote confidence in the economy & to reduce unemployment levels which had been suggested could escalate over 4 million taking us back to the worst of times last seen in the Great Depression of the 1920’s & thirties. As an industry we welcome todays news & our only concern is the beginning of next year there could be a degree of panic buying as purchasers push to get a completion before the deadline before the concession expires.

Given that a typical sale can take 2/3 months to complete & more besides when there are chains involved as sales are agreed in January there is a relatively small window of time to ensure you make the saving. In that sense, I can see a lot of conditional offers being made specifying that the offer only applies if the transaction completes before deadline day. Equally, as we then enter Springtime, a traditionally buoyant time of year, there may be a vacuum created as people hold back not just because stamp duty levels have resumed but also the implications of the worldwide pandemic  & the forecasted recessionary period that is expected as a result. For now, though buyers can celebrate Stamp Beauty.

To find out more about the new guidance click here: 

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