September 2018 Market Comment
As we move from a scorching summer to a cooler autumn, will the property market return to “normal”? Certainly the latest HMRC figures indicate a positive outlook, with a 0.3% increase in the number of transactions over last year. That’s not bad considering increased political uncertainty and two interest rate hikes.
Transaction volumes are currently the most reliable indicator of the state of the property market, not prices, although these have risen by a not-unhealthy 3% over the past year (HMRC). … Continue Reading…
“Maximising Your Sale Prospects”
The vast array of property-related TV programmes proliferating our screens is certainly an indication of our appetite for home improvement. Presumably this has something to do with pride of ownership and making the most out of “an Englishman’s home is his castle”.
However, once you come to sell, you may understandably be more focused on your next property than the one you are leaving. It is surprising how many properties we see offered for sale where the vendor has not taken … Continue Reading…
Why Use High Street Agents?
The second post of our blog series Why Use High Street Agents offers property sellers some tips to help ensure their agents take personal ownership of progress and process of their sale.
Richard Tucker, Managing Director of Relocation Agent Network, says:
“In my previous post, I mentioned the importance of paying close attention to the quality of the agent’s service, advice and trust, as well as commission rate. Today, I would like to share my thoughts about the progress of your sales … Continue Reading…
Interest Rate Rise Aug 2018 – Market Comment
The Bank of England’s Monetary Policy Committee has just announced a rise in the Bank of England base rate of 0.25% – only the second increase increase in over a decade. Whilst the 0.75% base rate is now the highest it has been since 2009, it is still historically low when many still remember the levels of the late 1980’s when a mortgage rate of 15% was the norm!
The latest increase is probably designed to be nothing more than a … Continue Reading…
August 2018 Market Comment
The heat is on! Or rather, it has been for the past few months of the glorious summer we have been enjoying. But is the heat on, or off the property market? Here at Richard James we have seen consistently strong sales over the summer, although the national picture seems confused. It all depends who you speak to!
For example, according to the government’s official house price index, UK house prices have increased by 3% over the past year – the … Continue Reading…
Save The Sale!
It is well documented that, nationally, around 30% of all sales arranged fail to reach a successful exchange of contracts. Fortunately, our success rate is that over 90% of our sales reach completion successfully.
However, the sales cycle can be frustratingly slow and the longer the sale takes, the greater the chance of it falling through. This makes it particularly important that your estate agent handles your sale with kid gloves. So we typically advise our sellers as follows:
• Preparation – … Continue Reading…
Prepare To Paint – Some Tips
Before selling your property it is obviously worthwhile doing whatever is reasonably possible to make your home look appealing to prospective purchasers.
Certainly when it comes to making an immediate difference, most people understandably go straight to giving the internal walls a new coat of paint. But beware – a quick “tart-up” job can look just that, and can mar your chances of a sale should you decide to sell in the foreseeable future.
So here are a few tips to consider … Continue Reading…
Solicitors and “Solicitors”
The system of property transfer in this country is relatively archaic when compared to those of most other countries. The variety of age and tenure of UK property forms a complex framework on which sit further complications such as easements, rights of way, restrictive covenants, planning restrictions, building consents, possessory titles and disputed boundaries.
Despite some streamlining to the conveyancing process over recent years, there is no doubt that there will always be a need for an efficient and effective solicitor … Continue Reading…
Why use High Street agents?
Richard Tucker, Managing Director of Relocation Agent Network, says:
“If you’re considering selling your property, it’s important to think carefully about your expectations of the agent handling your sale. After all, you are going to be opening up your home to them and prospective buyers. I strongly recommend that sellers pay close attention to the quality of the agent’s service, advice and trust, as well as commission rate.
“With more than 600 offices across England, Scotland and Wales, the Cartus Relocation Agent … Continue Reading…
July 2018 – Market Comment
The national housing market paints a picture of the “summer doldrums” with mortgage approvals for house purchases at their lowest this year and 23.3% below their long-term average. The Bank of England’s monetary policy committee has also been advised that, by the end of the year, house prices will have risen by just 2%, which would be well below inflation and its slowest pace for five years.
Bank of England Governor Mark Carney has indicated that the UK should prepare for … Continue Reading…