Here we are at the end of the year and Christmas is officially being felt by everyone. The UK housing market has a mixture of people who have finally set up in a new home and more than a fair share of people still occupying a home they are hoping to sell in the new year.

No matter which group you fall into, there is no reason to not go all out this Christmas and make your property the most welcoming and festive environment – no matter if it is your first or last year within the property.

Your home does not require heavy-duty investment and it certainly does not take hours out of your day to make it homely. Plus, a couple of nice pictures certainly help to highlight how Christmassy your home can be for anyone wanting to buy a family home in 2023.

Simple Christmas Trees

If you have just moved in and are buying your first tree – or are about to move in the new year – choose a simple tree that either eases you in or is not a hassle to move when you do.

Either way, the occasion of this Christmas is a special one that is more focused on memories being created. A small tree is something more personal and easy to pack away or dispose of after Christmas has ended. As for decoration around the room, people choose to use ceiling decorations less and less every year because they could look tacky – or mean that sellotape or nails need to be applied to your ceiling. Either way, it is not a great look left over when you take everything down.

Instead, decorate your picture frames and window frames to create a much better feeling of home.

Low Effort Maximum-Impact Decor

Some Christmas decorations make a major impact, such as botanical and evergreen garlands, lanterns and those festive ornaments.

Wrapping items around your bannisters and windows, sticking sprigs around pictures and trailing festive decor across your mantel certainly take the least amount of effort and make your home that much more special. With those looking at how to sell a house in the new year, updated Christmas pictures can create an eye-catching imprint of how your home looks throughout the year – especially in a season when families spend even more time together.

Enjoy Your Home

If you have a new home, it is time to relax and enjoy the comforts of your first Christmas. If you are selling your property in the new year, you can still enjoy your home whilst providing an appeal for people looking to buy property in Stockport.

Contact the team at Joules estate agents Stockport today for all home buying, leasing and selling enquiries and have a Merry Christmas.

Read More

The latest Home Movers Report conducted by conveyancing tech provider Smoove has revealed that almost a fifth of home movers would actively seek a different estate agency for their next property purchase – particularly from a national brand to a more independent and local firm.

Unhappy With Existing Agents

This sentiment has been among thousands of people who have recently moved home, equalling 19% who would rather look elsewhere for their choice of agent for the next time they move home.

Whilst there has been no official word on why a majority would claim to be unhappy with their existing agency or conveyancer, many have put down costs, quality and length of time to complete the move with a national firm as the top three considerations in the moving process.

Most homeowners have stated they were satisfied with their conveyancing firm, with 61% willing to recommend the form they are with to friends and family. A third of homeowners relied on friends and family recommendations for finding solicitors, with 31% using agent referrals and 23% on recommendations from a mortgage broker.

Highlighted Reasoning

Highlighted within areas of stress for many aiming to proceed quickly on purchases were the national brand’s use of complex legal terminology and added inefficiencies with large quantities of paperwork. Conveyancers receive four queries per instruction on average, with the legal process of the transaction taking an average of 8 to 12 weeks.

This is an obvious pointer to why 9 out of 10 homeowners feel the home moving experience is a stressful exercise.

Whilst the situation can be stressful for the homeowners in being affected by the old-fashioned and analogue nature of the process, estate agents are also juggling multiple parties via phone calls and emails, whilst trying to appease all parties on schedule and helping to manage expectations.

Whilst more national high street brand have their numbers to think about, the independent estate agencies are very focused on their area and provide more personalised approaches with their clients. This is something that many homeowners and movers are requiring during a very tumultuous time in the housing market.

Local Help

When it comes to homeowners wanting to buy property in Stockport, local estate agencies are deemed more approachable for the area, with many national brands tending to focus on wider searches such as Cheshire and Manchester housing on top. This means that the focus becomes wider and home movers have to join the number of people wanting callbacks and updates.

A local estate agent Stockport has a more central focus and importance of the area you want to live within, and solid relationships with businesses and trades within the area – and are more approachable throughout the entire process.

Contact the team at Joules estate agents today for help in how to sell a house, property purchase, or seeking buying a property advice.

Read More

A strong indicator of how the outlook for housing is looking came in last week when Propertymark highlighted that 52% of their branches had most sales completed below the asking price in September. In March, that figure stood at 15%.

lighted that sellers need to take a step back and be more realistic around their pricing to get some serious ground on the sale of their homes if they are looking for immediate sales.

Dip In and Out

The number of house hunters registering on books peaked in January and April and noticeably dipped during the summer months. August and September have seen a surge once more in people wanting to buy, as well as hesitancy among new buyers given rising interest rates.

August and September also saw an increase in homeowners wanting to get their homes valued and sold, which presented a great wealth of news for buyers who had missed out previously. Now, with the economic climate changing, a new housing secretary taking the reigns and other factors about to come into play, many buyers have become realistic about the prices they might achieve.

Advising for the Outlook

Many would predict that the market will slow considerably in the run-up to December – which will add even more incentive for those looking at how to sell a house to strike a great deal for those looking to buy property in Stockport.

With so much uncertainty around the nation concerning housing and government, it could be a case of leaving things until the new year is jumping from a frying pan and into a fire. There is no telling how the inflation will play out in 2023, much less the state of mortgages and how everything plays into the future of affordable housing.

Where the Issues Lie

Whilst no one selling looks to sell under their asking price, it certainly seems to be moving part of the housing market along. Everyone is keeping a very close eye on the housing market as we are yet to see the full effects of the government’s rollback on the mini budget and economic shifts on house prices.

Affordability issues may have a knock-on effect on the number of buyers over the next coming months, but the good news is that housing is still very much in popular demand and will continue to be so.

For information on buying a property advice and advice on renting a house, contact the team at Joules estate agents Stockport today.

Read More

UK stamp duty cut

Sticking to what seems like a never-ending pattern over 2022’s financial landscape, the new Chancellor Jeremy Hunt has reversed nearly all of the tax cuts established only 3 weeks ago in the disastrous mini-budget, raising an extra £32 billion per year.

Movement on Reversal

In a recorded speech aimed at reassuring markets, Hunt declared movement on reversing almost all tax measures highlighted in the growth plan that had not already started the parliamentary process. Out of all of the elements involved, only two survived the cut. The first was National Insurance and the second is the cut to stamp duty in England and Northern Ireland.

Following both the corporation tax cut scrapping and removal of Kwasi Kwarteng last weekend, both of which failed to reassure the markets, Hunt brought forward the death of Trussonomics mere weeks after the tax-cutting agenda was put into effect. Pundits are now questioning her future as speculation is mounting that Conservative MPs look to oust the PM.

Reassuring the Market

Hunt had only been in his new position for 72 hours and had spent the time attempting to reassure the markets, Tory MPs and the general public with his actions to scrap dividend tax rates, the IR35 tax changes, VAT-free shopping to tourists and alcohol duty changes.

Following up on his plans, Hunt has remained steadfast that the 20% basic rate of tax will remain indefinitely, and that the energy price guarantee will only last until April 2023 – with both he and the Prime Minister agreeing that long-term spending commitments would be wrong in the face of such uncertainty around the future of energy prices.

A more target system is due to be in place by April 2023 and a full review will be in operation by that point.

Positives for Buyers

This does remain a satisfying result for those on the ladder to buy property in Stockport, with the UK stamp duty cut still enabling people to achieve their plans of following through on buying a property advice provided by their estate agents Stockport. The property industry currently feels that Jeremy Hunt could play the difference maker in limiting the extent of a housing market downturn, restoring confidence and calming volatile markets.

Hunt’s reversal of the proposed tax cuts could take the edge of inflation and help slow down pressures on rates for fixed mortgages. With more breathing room, lenders will feel the confidence to put more products back into circulation and temper house prices and transactions.

That being said, the market still requires adjusting to the current higher interest rate environment, however perhaps not at such a heightened level.

For more information on where to buy a property in Stockport or how to sell a house in the area, contact the team at Joules estate agents today.

Read More

Will housing prices continue to rise? If there is one thing that we are certain of at this time, it is that everyone is uncertain of what is around the corner. Everything is speculation and no one is truly prepared for what can come.

Look at the past two years as an example – nobody thought as soon as the clocks turned midnight on December 31st 2019 that our lives would see a global pandemic, a war, political upheaval, a recession and the changing of the monarchy in just two years among every other upheaval we have faced. No one could have predicted the dramatic ups and downs in the housing market either – and we continue to be uncertain about what is truly in store.

Optimistic Viewpoint

Jonathan Rolande, director of the National Association of Property Buyers, has however pointed to signs that many parts of the UK could still record increases up to 5% up through next year, despite concerns over the economic downturn and forecasts of 10% house price falls in 2023.

Rising interest rates, inflation, a cost of living crisis and drastic mortgage cuts may amount to the perfect storm which typically leads to a house price crash, but in the face of such factors prices are continuing to hold firm.

Areas in the north and regions of the Midlands are showing signs of prices still going up, with the ongoing lack of supply driving it, as well as the rental sector crisis. With people not able to afford rental contracts, many are continuing to save and put attention on buying, continuing to put sellers in a strong position.

5% Rises

Rolande estimates that rises of around 5% will be present over the next 6 months, although there are clear differences between this and the 1990s crash that left many with negative equity.

As of right now, there is still money to borrow whereas 2008 didn’t have any. Rates at 6% are more expensive yet nowhere near the 10% and more highs of the 1990s. Also of note is that commentators discussing slowdowns are not looking at the entire picture, where the past few years have seen double-digit rises every month in the market. This is not sustainable and destined to have ended at some point.

Smaller rises in property prices will help to boost chances for those wanting to get on the housing ladder, especially matched with government policy to support first-time buyers.

Keep Up to Date

Will housing prices continue to rise? No matter how things pan out in the next six months, estate agents Stockport still have their work cut out for them as much as those looking to buy property in Stockport. Contact the team at Joules Estate Agents today for all enquiries on how to sell a house and buying a property advice.

Read More

Whilst mortgage products took a bit of a dip ahead of the mini-budget, optimism for the housing market is still strong as it continues to hold healthy.

Harder for Providers

Following the Chancellor’s problematic mini-budget, mortgage lenders started withdrawing rates amid the rising cost of wholesale funding and economic uncertainty, which made it harder for providers to price their products.

This initially fueled further fears that the market was on a downturn, concerned about first-time buyers not being able to pass affordability assessments or interest rate stress tests. Homeowners remortgaging or moving home with new deals were also deemed destined to struggle in paying comparatively higher rates than they currently do.

This pointed to several attractive mortgage deals tumbling being a bitter taste to swallow for intended movers and those with ending fixed-terms, destined to impact buyer budgets that are already stretching themselves thin.

Still Healthy Market

However, the data points to the housing market still moving along very healthily, with the number of sales agreed last week being the highest number in a single day since August.

Demand from buyers sending leads to agents and developers was only down 3 per cent compared with other weeks in the month, while 1.6% of all properties were reduced each day. It is the same level of reductions as earlier in the month with fall-throughs remaining in line with all of September.

On a longer-term look, buyer demand over September was 20% higher than the pre-pandemic five-year average. New sellers are up 8% on 2019 levels and asking prices are currently 15% higher than two years ago. The number of sales agreed last week reaching its highest number in a day could be attributed to people rushing to get their mortgage before rates rose even further.

Surprisingly Relient

September’s activity highlights that the market has been surprisingly resilient against the rising rates, with those who can move to be able to go ahead as it stands. Whilst buyer demand has softened in the last few months, buyer demand remains 20% higher than the five-year average, with the number of homes going through conveyancing being 40% higher than in 2019.

The demand for housing is not due to fall off of a cliff anytime soon, but its stability is still good news for those deciding on how to sell a house against those looking to buy property in Stockport.

The current circumstances will no doubt impact some intentional buyers in a big way, and much hinges on the extent to which interest rates rise and how new and far-reaching unemployment levels begin to climb. This may mean that first-time buyers can begin to get a good foothold helped by the recent stamp duty adjustment.

Contact the team at Joules estate agents Stockport today for more information on buying property advice.

Read More