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Spring 2017 Market Comment – good opportunities for committed buyers

Housing market - comments for buyers and sellers from Stacks Property Search

A new season, & the president of the U.S.A and Brexit still very much in the news, but the Chancellor’s Budget speech didn’t even refer to property!!

The market is still somewhat subdued and levels of activity are certainly down but opportunities are there for the taking.

In our view, the uncertainties of the Brexit vote and a Trump Administration create an opportunity for committed buyers : uncertainty = opportunity.

We don’t expect much movement in price over the next 12 months. Quite clearly the London market was weakened by the Brexit result, but limited supply is matching demand in most sectors. The most buoyant sector of the market is the sub £500k but above that things are a bit tougher. Buyers and sellers are still struggling with the revised stamp duty and rules on second homes.

Despite this there are always those who want or need to be in the market. Those looking to move from London to the Country are still being presented with a once-in-a-generation opportunity to swap a moderate London property for a spectacular rural home. If you are planning to make the London-to-Country move in the foreseeable future, depending on your circumstances and position, you want to get on with it.

If this doesn’t apply to you, now could still be a good time to buy with the possibility of cheaper mortgages and a reduction in interest rates again. If selling, correct pricing is key. See here how we help our clients determine what price they should pay for their new home.  Our advice to sellers would be – ‘be realistic’ as buyers will certainly not be prepared to pay over the odds and less likely to compromise. This may apply particularly to those looking to make a first move out of London who may be apprehensive about making the right decision. So, unless you are selling a property as a project it needs to be presented as best as it can be and the cleverest vendors are aggressively marketing their houses with good agents at the right price – i.e. keen, competitive, fair and reasonable.

Our message remains – ‘if you want to move, don’t hesitate, but start making arrangements to get into the market now.  There are some great properties out there at good prices.’ 

 

If you are selling and buying, start looking for your new home now, and certainly from the moment that your current property goes on the market. (If you want help getting a good local estate agent round to ask their advice on selling your property, just contact us and we will put you in touch).

On the assumption that most people have to buy AND sell a property, 2017 remains a good time to be moving. And for those living in London, there is a generational opportunity to buy that home in the Country.

To keep up to date with the market follow ‘StacksNorthants’ on social media, or call Rachel for a no obligation chat.

For more information on how Rachel can help you with your property search, please call 44 (0)7502 406688


2017 Househunting Wishlist

2017 The Househunting Wishlist. Did you know that winter is the time you should be househunting ? Professional UK Homefinders Stacks Property Search show you where to begin in compiling your wishlist

The secret to househunting is that – whether you have £100,000 or £1million – your house will have to compromise with your original  ‘Househunting Wishlist’ in some way or other.  Some factors just don’t exist in the same space – think “short, easy commute AND no noise pollution”  for a London worker.  Homefinders such as Stacks help you navigate the process of compromise, without any emotional pressure that friends or family can bring to bear on what they think is the right combination of factors for you.

Stacks offer free, no obligation consultations with potential househunters to help you identify your property search priorities.  Call Rachel on 07502 406688 if you may wish to live in Bucks or Northants, or see our Head Office website to find the relevant office.

 

For more information on how Rachel can help you with your property search, please call 44 (0)7502 406688


If you’re thinking of leaving London, add Northamptonshire to your list of possible destinations

Adobe Spark Page

For more information on how Rachel can help you with your property search, please call 44 (0)7502 406688


You know you all do it!

Isn’t it time you did it right ?

For more information on how Rachel can help you with your property search, please call 44 (0)7502 406688


House (P)inspiration from Stacks Property Search on Pinterest

Check out our PInspiration Boards on Pinterest – continually updated with useful househunting tips and tricks, houses we’ve loved, information on the local area and inspiring home decor !

For more information on how Rachel can help you with your property search, please call 44 (0)7502 406688


Share your local photos with Stacks Northants – and the world!

SHOUT OUT FOR LOCAL PHOTOS

Are you a talented local photographer ? Want to let people see your work ?

Stacks Northants would love to use original local images – of the beautiful Northamptonshire countryside, of local architecture, and of living in the #SecretShire – and who better to provide those than you living right here !?

Feel free to use your imagination, filters and special effects to display the delights of Northants to all.

If you’d be happy to have your photos used in our social media and PR for our fabulous county, please get in touch with Rachel racheljohnston@stacks.co.uk

Images wanted for #SecretShire Northants

For more information on how Rachel can help you with your property search, please call 44 (0)7502 406688


Advice for post-Referendum property buyers

Uncertainty has been the enemy of those wanting to buy and sell property in 2016. The lead up to the Brexit Referendum was a quiet time in the UK property market as potential buyers and sellers sat on their hands waiting for the decision.

While the future of a Brexit UK is far from certain, every day brings a little more certainty. We know that the commercial property funds are suffering; we know that interest rates are more likely to go down than up; we know that the Stock Market is more robust than many anticipated, reflecting a devalued pound. We now know who the next PM will be.

We also know that, whilst estate agents are reporting some fall-throughs where buyers have been specifically affected by the Brexit decision – for instance some relocation decisions being reversed – largely, deals are progressing, demand has increased a little, and that overseas buyers are taking advantage of a weak pound to snap up.

In our view, if you can be certain in an uncertain world, you can take advantage of the situation. A collapse in property prices is not on the cards – Mark Carney has taken care of that. Equally there is no expectation of any great increase in prices. Before the Referendum it was agreed by many that price growth was slowing. At Stacks we held the belief that prices were overvalued from 3% – 12%. Our expectation is that, depending on the level of growth that different regions have experienced in recent years, we will see some dampening and falling of prices.

As a buyer, you can take advantage of this non-volatile market. Our advice to buyers is:

–          Explore finance options early, avoid high levels of debt and don’t over-borrow.

–          If you can be a chain-free buyer you will be in a very strong position.

–          Don’t overpay, there will be good opportunities for negotiation.

–          Don’t be seduced by ‘fire sales’ – as always, don’t buy anything that you wouldn’t buy if it wasn’t cheap!

–          Buy sensibly for the long term. Short term property moves rarely make financial sense.

Finally, if you’ve been putting off a decision to move for months, now is the time to get active. Take advantage of a climate of opportunity, but, as always, be obsessive about your due diligence.

For more information on how Rachel can help you with your property search, please call 44 (0)7502 406688


Useful information on using a Buying Agent

Follow Rachel Johnston’s board Using a Property Finder on Pinterest.

For more information on how Rachel can help you with your property search, please call 44 (0)7502 406688


Property Market Picking Up

Whilst the predicted upsurge in available stock last Autumn failed to materialise, our message remains – ‘if you want to move, get into the market now, there are some fabulous opportunities for buyers’.

The property market is about people, and people have to move house – there are now over 5 million properties that might have been expected to change hands since 2007/08, which haven’t. Mainly because they haven’t come to the market. A great many houses are potentially for sale, but not on the market. However, many properties are being ‘marketing quietly’ e.g. agents are seeing what interest there may be in a property, without going to the expense of marketing and brochures, or even placing it on a property portal.

We don’t expect much movement in price over the next 12 months, whatever the media might say. Quite clearly the London market has plateaued, and supply should match demand in most sectors. Without doubt, there are good deals to be done. Our advice to buyers – get active now.

The clever, successful vendors are aggressively marketing their houses with good agents at the right price – a keen, competitive, fair and reasonable price. Our advice to new vendors would be – ‘be realistic’. You harm your own prospects by letting your property get stale, or by hopping on and off the market : Speak to your local estate agents. Trust their judgement as to the price your property will sell at.

Whilst the reforms to Stamp Duty were good news for the majority of property buyers, SDLT is now a significant, material factor for higher-end transactions. Vendors above £1.5m+ – if they are serious about selling – will need to help buyers absorb the higher Stamp Duty costs associated with buying. The 3% Stamp Duty surcharge on second homes and buy-to-let properties is likely to encourage some activity between now and April 2016, but buyers should avoid getting into a competitive situation to save 3%, as we expect prices on this type of property to dip after the tax introduction.

The divide between London and Commutable Country remains constant, and the rest of the Country follows. There has been an increase in Londoners cashing in on good London prices and moving to the country, but not as many as we might have expected, considering the gap between London and Country prices. As usual, the M3/M4/M40 corridors and the West Country are strong. Those looking to move from London to the Country are still being presented with a once-in-a-generation opportunity to swap a moderate London property for a spectacular rural home. If you are planning to make the London-to-Country move in the foreseeable future, depending on your circumstances and position, you want to get on with it.

If you are selling and buying, start looking for your new home now, and certainly from the moment that your current property goes on the market. (If you want help getting a good local estate agent round to ask their advice on selling your property, just contact us and we will put you in touch).

On the assumption that most people have to buy AND sell a property, it’s a good time to be moving. And for those living in London, a generational opportunity to buy that home in the Country.

For more information on how Rachel can help you with your property search, please call 44 (0)7502 406688


Moving out of London – where to start ?

The most frequent question I get asked is – “we want to move out of London – where should we go ?”

Assuming you still want to work in London at least part of the time, you are deluged with options (that’s why you are asking me!) and so, some navel-gazing is the first step :

3 factors can / may help to influence your radius

  • start with where in London you need to get back into – an ‘hour on the train’ can leave you adding an hour across London to get to work !
  • then, do you have any family anywhere else in the UK – if they are in Yorkshire, don’t go SouthEast of London (or maybe you want to !!!)
  • then, how long do you want your total commute to be ? Some people prefer longer on the train (getting more done), some prefer to drive a bit further for easier parking or shorter on-train time, some want to avoid the Tube particularly

Decide which are the key factors for you, and you’ll have a direction at least !  If that direction is North or North East of London, then call for a chat on how Stacks can help !

For more information on how Rachel can help you with your property search, please call 44 (0)7502 406688


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