Buyers are out in full force with over 40 viewings completed this weekend alone. In particular we are seeing huge demand for properties with 3 and 4 bedrooms in KT8 and KT10 postcodes.

If you're looking to sell your property please do get in touch with us!

The necessary restrictions put in place by Government to slow the spread of COVID-19 have essentially paused property transactions in the UK.

Agents are currently only permitted to carry out “virtual viewings” on vacant properties, and mortgage lenders are putting a temporary stop to new mortgage applications whilst restrictions prevent their surveyors from valuing properties with usual accuracy, given that they cannot physically visit the vast majority of properties at present.

The only ones that are still moving home, are those that are well progressed with their sale or purchase and are contractually bound to move. The same more or less applies to those renting as well, with virtual viewings applicable to vacant properties only, and only those that absolutely have to move are able to do so.

Were you planning a move this spring like many others who have been waiting for the right time to sell?

Prior to the outbreak of COVID-19, the property market was doing extremely well, and there was already strong evidence that the so called Boris Bounce was having a positive impact on the property market.

Our own data showed a 14% increase in the number of property viewings immediately following the election, and an overall increase of 32% when compared with the same period in 2019. This was also evident in the most recent property transactions for 2020, showing an increase in the average price paid for a property in Thames DItton, Esher, Claygate, Hinchley Wood and Molesey of £25,000.

Right now, we should be experiencing one of the busiest seasons for the property market, commonly known as the Spring Market, but restrictions are preventing people from bringing their property to market, causing a back log of people that were planning to move at this time.

Can you think of another recent event that was talked about in the news every day that may have also had a bottleneck effect, and created a back log of people that were waiting for more certainty before putting their property on the market…?

Brexit is relevant to property market predictions around COVID-19

The EU referendum in the UK along with amendments to how stamp duty land tax is calculated, reduced transactions in Molesey, Esher, Thames Ditton, Claygate and Hinchley Wood by around 30% and as a result, 2020 was expected to be a busy year for the UK Property market with pent up demand reaching critical mass.

We now have one bottle neck on top of another bottle neck, and if the data tracking property transactions in South Korea and China is anything to go buy, we can expect transaction levels and the health of the property market to snap back at an exceptional pace.

With the UK’s own specific set of circumstances leading up to this point, we are expecting a wave of new properties coming to market in the second half of 2020.

If you are one of those people that are planning to sell your property once life begins to return to normality, is there anything that you can do to beat the crowd?

Get yourself "Contract Ready"

You may or may not already know that you can instruct a solicitor before you find a buyer. Our panel of solicitors work just like our estate agents do, on a No Sale, No Fee basis.

Why does this matter? The initial process of setting up the sale of your home with a solicitor takes anywhere from 2-3 weeks. Most people wait until they have a buyer to begin this process, but if everyone is trying to do this at the same time, it will likely take longer than usual for the initial steps to be completed.

If you are serious about moving, why not put yourself in a position where you are up to 3 weeks further ahead than other properties that launch to market? There’s no catch, and you don’t even have to use Newton Huxley Estate Agents to sell your property to get access to this service. However, if you decide to take advantage of our award winning estate agency services, your solicitor fee payable upon the completed sale of your home will be absorbed into the commission we charge, saving you an average of at least £1000.00

For more information please contact our team on 01372 631 622 or email info@newtonhuxley.co.uk

If I had £1 for everytime someone asked me "what is the property market like at the moment?" I could pay off the mortgage for every friend and family member in the contact list on my phone!

The nature of the private housing market in Britain means that it is always changing and evolving, and the value of your property can change from month to month, and so called uncertainty surrounding UK politics has left many people unsure as to how this has affected the value of their home.

With the Pound (£) offering very good value for money against the Euro and US dollar, foreign purchases in Central London are reportedly on the up again, and as Molesey was more or less built for commuters, this has a knock on affect  within our local market as many buyers who move to Molesey, do so after selling a property in London in search of more square footage, garden space and good schools whilst retaining the ability to get to work in London with relative ease.

So what does the property market look like now compared to this time last year? 2018 was our busiest year yet at Newton Huxley, and here is why we are confident that 2019 will be the same, if not better.

Now this does not mean that asking prices are down by nearly 20%! We have noticed more properties coming to market below the £500k threshold which shows more confidence from those looking to upsize from their first purchase. We also published an article last year explaining that over inflated asking prices were causing a slow down in the market (as commented on by The Times in their recent article about overvaluing) and that the eventual sale prices of properties had remained more or less the same, this shows that home sellers are adjusting their asking prices to be more in line with buyer expectations which will increase movement.

The number of new properties coming to market has been in decline for the past 2-3 years. In terms of real numbers, the difference is 73 new properties in 2018 vs 65 in 2019 and although this will help speed up a potential buyers decision making with slightly less choice to consider, we do not see this having any significant affect on pricing at this level.

This is ultimately a result of the above two market factors, with less choice and more affordable properties on offer, activity will naturally increase. We have also noticed increased interest in properties that have previously been struggling to achieve a sale, showing further increased movement within Central and SW London is having a positive impact.

For practical purposes there is no real change here, this does however mean that a higher percentage of buyers that are out viewing, are making offers. It is more important than ever to ensure that the number of feet through the door from potential buyers remains high as this will dramatically increase your chances of securing a buyer and will help create a sense of urgency that will help you achieve the best possible price. In essence you should price your property to entice viewings and leverage negotiation against other interest as opposed to just stating what you want for your property as a seller, as this carries a lot more weight!

If you are thinking of selling and would like an idea on the current value of your home, you can use our FREE instant valuation tool below for an instant estimation. Additionally, if you have been on the market without success and would like to discuss other available strategies for selling your property, please call our Molesey team on 0208 396 6717 or email molesey@newtonhuxley.co.uk

GET AN INSTANT PROPERTY VALUATION FOR FREE!

If you're a homeowner in Molesey, you'll be interested in the current value of your home. If you're looking to up or down size, and plan to stay local, you'll be interested in the current value of property on some of your favourite streets!

The list below shows the increase in value over the last 5 years, as well as the number of transactions over the last 12 months to give you an idea of how often property becomes available to buy in any given road.

If you would like an instant valuation of your own home, this handy instant valuation tool is completely free and will give you an immediate indication as to your properties current value

As a whole, property values in Molesey have increased by £160,549.76 on average in the last 5 years, with the current average proeprty value in the area at £630,572.09.

If you are considering moving on to the next chapter of your life and would like to book a free market appraisal of your home, please click the link below, alternatively you can obtain a quick online valuation here.

We caught up with the new owners who took over the cafe in March, they are extremely welcoming and have quickly become huge fans of the Molesey community.

What type of food can visitors to the Courtyard Cafe expect to be treated with?

We serve many kinds of cakes, such as Victoria sandwich, Apple pie with ice cream on top, Non gluten Carrot cake, Non gluten brownie, Forest fruit cake, homemade fruitloaf and many others, we bake our croissants and pain au chocolate daily, we have freshly made sandwiches, paninis, wraps with a big variety of fillings,we do all kinds of breakfast as well.

What is your preferred choice for lunch here?

My favourite is the Chiken pesto panini.

What is it that you like about Molesey?

Lovely supportive people around. 

What would you recommend that people may not have tried before?

I would definitely advise Lamb Moussaka from our chef.

What is the best thing about your job?

Most of all I like the smell of fresh roasted coffee in the morning during prep, it is a real sign that the day is starting and it is a great way to start every day!

What would you recommend for a breakfast to get hard working Molesey residents through their busy day?

English breakfast which includes two eggs, crispy bacon, sausages, beans, tomatoes, mushrooms, two slice of toast for only £6 + tea comes free.

The Courtyard Cafe are extremely welcoming to pets and children, it's the perfect place to pitch up after nursery, school, or dog walking!

You can find them at 105 Walton Road, East Molesey, Surrey, KT8 0DR.

You may be thinking of moving, or more likely, you are just interested to know if the value of your property has gone up or down. It can be really difficult to guage what is happening with property values, some estate agents are always talking up the market, and the media is generally extremely negative and apocalyptic about the housing market around Surrey and London.

Let us cut out the rhetoric and the "sales spiel" and get down to some undeniable cold hard facts!

Transaction Levels

For most of us, it feels like 2008 was only yesterday, the recession hit and transaction levels went through the floor. As an example, the KT10 postcode area (Esher, Claygate, Hinchley Wood) dropped from over 400 annual transactions to just 184. Since then transactions have increased until the most recent peak in 2013 of 446 total transactions. There has been a steady decline in the number of transactions since then, and in 2017 the Land Registry recorded 354 transactions across Esher, Claygate and Hinchley Wood. The level of transactions has declined by 21% since the most recent peak in 2013, but has increased by 4% over the last year. Hardly a disaster story and by contrast to 2008 levels, a very healthy market place indeed.

A similar story applies to areas like Molesey and Thames Ditton, with transaction levels down 21% over a similar period, and still way above 2008 levels.There really is no comparison to the 2008 recession that has been quoted by some of the more dramatic media sources. To sum up, we are not at the "height" of a market trend but we predict prices to remain where they are for the next 2-3 years with modest fluctuations of around 5% +/- throughout this period.

Property Values

So you know transaction levels are still high, just not as high as they’ve been before, and we know what we're all really interested in… The value of property!

Last year property values across Molesey, Esher, Claygate, Hinchley Wood and Thames Ditton slipped slightly, with the lower end of the market dipping around 5% and the £1m + market dipping by 7% or more. This was purely down to affordability issues and scepticism from would be buyers. As a company, we experienced a market where buyers wanted to buy with interest rates at an all-time low, but sellers were still hoping for record breaking prices creating a gap that either the seller, or the buyer needed to fill. As the consumer dictates the price of a product by demand, this quickly formed a "buyers’ market" mentality, but once asking prices were adjusted, there were plenty of buyers for every property as they jumped at the chance to secure a reasonably priced home.

Since the beginning of 2018, house values have increased across all of the areas we cover: KT10 by 5%, KT8 by 3.14% and KT7 by 5.43%, this shows that the adjustment in asking prices last year from the majority of sellers created more competition from buyers and therefore, persuaded buyers to part with (or borrow) more cash to purchase their next home.

What we are still seeing is an extremely price sensitive marketplace, overestimating your property's value or listing with an agent purely because they provided you with a surprisingly high and intoxicating valuation, can cost you in the long run. Where properties remain on the market for longer than expected, buyers will assume you are desperate to sell and we have in extreme cases, received offers 15% below asking price. This will hinder your chances of getting market value and will make it nearly impossible for your agent to negotiate the best possible price for your property. Correct asking price = hordes of buyers = multiple offers = best price AND best position to proceed.

If you are thinking of selling, look at the sold history in your area on either Rightmove, Zoopla or Land Registry, asking prices are not always, what a property will sell for. Check how long a property has been on the market for, ask yourself why it hasn't sold if it has been on the market for months. Get multiple valuations from agents who have a good record of accomplishment in your area, listen to the facts and evidence rather than just listening to what you hope to hear. In an age where "fake news" has penetrated the majority of information sources, only the facts and evidence that you can verify matter, and that is all a buyer will consider – unless they fall in love with your property and have to submit a sealed bid because there are multiple interested parties! They are more likely to consult their mortgage broker than sold data at that stage!

If you are thinking of selling, would like clear advice on the value of your home and the best marketing strategy to adopt when and if you decide to sell, please call our sales team on either 0208 396 6717 or 01372 631 622 for more information. Alternatively, you can book a FREE valuation by clicking the link below.

BOOK A VALUATION

It's not long until #LoveMolesey and the team are busy finalising details for a huge range of projects. So far they already have cleanup projects, opportunities to make a difference in our local schools, care homes and the day centre, tea parties for seniors, a fun games night for young people and even a history walk along the towpath. Over the coming weeks they'll be announcing lots of others so keep checking the website www.lovemolesey.org to find out more. 

On Tuesday 13th March they'll be holding their launch event, during which you will have the opportunity to hear from the organising team all about the vision behind #LoveMolesey and what’s coming up. You will also have the chance to meet many of the team leaders to learn more about the different projects which will be running over the course of the 4 weeks and how you can get involved. Refreshments will be available, we look forward to seeing you there!

If you already live in Molesey, you already know where Musicland East is. We were lucky enough to have a chat with owner James Etherington to talk about Musicland East, Molesey, and what keeps him in love with music and teaching.

Yes that is a chrome guitar, and yes the only other time you may have seen one like it was on the cover of Brothers In Arms by Dire Straits!

The shop has an extremely welcoming feel, and you are instantly greeted by some amazing instruments (and musicians).

The workbench where James repairs and maintains instruments.

As soon as you enter the shop your are welcomed by the relaxed and unpolished vibe that is clearly perfect for the creative nature of teaching and experimenting with music. There is an array of stringed instruments that line the walls, along with amplifiers, straps, leads and retro festival posters amongst other things. The entire building is charming, even down to the work bench where James repairs and maintains their customer's instruments.

One of the teaching rooms at Musicland East, just look at those posters! How could you not be inspired!

Thats right. Thats a guitar made around a motor oil can. They are even cooler in real life!

Whilst there is a clear emphasis on the technical and theoretical side of music, the teaching/ practise rooms continue the relaxed vibes within the shop, and the staff have a superb knowledge of their respective crafts. This makes for a perfect, pressure free learning environment for any aspiring musicians, whether it be guitar, piano, or drums, this has to be one of the most charming and inspirational places to learn.

We asked James a few questions whilst we were there, we hope you enjoy reading what he had to say, and we've included contact details at the end of this article in case you want to start (or continue!) a passion for music at Musicland East.

How long has Musicland East been in Molesey for?

Since 1996, so about 22 years on the corner of Matham Road and Walton Road.

What services and products do you offer?

We do a lot of teaching here, with guitar, bass, drums, piano and ukelele lessons going seven days a week, out of four teaching rooms. We also stock new and second hand instruments and accessories, and I carry out repairs and setups on string instruments on site as well.

What is it that you like about working in Molesey and the general community?

 The people are cool and really get behind stuff. There's quite a few open mic nights in the area and we've had a massive response to our larger Musicland Live events, which give our students the opportunity to get together into bands and have them perform on a proper stage and gain some experience.  Its' a great evening and we always sell hundreds of tickets, and it can only grow off the back of the community that supports it. Luckily, Molesey has a great one!

What's your top tip for someone looking to get into music/learning an instrument?

Get a reasonable instrument but don't break the bank yet, make sure it's set up and tuned correctly, and play everyday for the love of it so you advance naturally. My main instrument is the guitar and there's such a range of approaches and styles you can play in and so much advice out there, but play the music you love to hear and you'll be on the right track.

What is your favourite thing about your job?

We get a real opportunity to make a difference. The shop meant a lot to me growing up, and I can see it means a lot to some of our younger students now. The community atmosphere gives way to the tendency to dream big, and it's great to have a shop full of musicians and those who support them, seven days a week, in a community that lets it thrive.

Musicland East

52-54 Walton Road, East Molesey, Surrey, KT8 0DL

0208 979 9443

musiclandeast@hotmail.com

musiclandeast.com

Over the past few years, interest in Molesey as an area for families moving out of London has increased significantly. Mainly driven by price, areas such as Molesey also offer great schools and a more "family paced" lifestyle. 

This is why we work incredibly hard to draw in the attention of these better budget buyers, many of whom have not considered Molesey as an area but are looking in surrounding towns such as Hampton, Thames Ditton, and Esher. Needless to say, they are soon converted to the idea of living in Molesey and as many you know, once you move into Molesey, you tend to stay forever!

So with all of the positives that and area such as East Molesey has to offer, and with recent events such as the change in stamp duty bandings, and the EU refurendum, London is going through a period of uncertainty, but people are still keen to buy. Combine this with a shortage of homes coming to market and you have a recipe for a quick sale at a great price.

We were very happy when we were invited to sponsor The Orchard Derby at the Conservative Club on Walton Road, after sponsoring the school's Christmas Fair last year with a fantastic response from local parents of children at the school, we couldn't wait to help out again!

The evening consisted of lots of laughter, alcohol and food which for us is a winner every time! Especially when it helps to raise funds for the school.

We look forward to the next event and hope our close working relationship with The Orchard School will continue to grow.

As always, thanks to the parents and local commutinty for their continued support. We have heard from many residents that our service is a "breath of fresh air" which let's us know we're on the right track in achieving what we set out to do in opening a local, online and full service estate agent in Molesey.