Claygate is an amazing village with lots to offer. With its abundance of independent shops and restaurants, pubs and long walks, community events and commuter links, it’s no wonder that Claygate Village is a popular location for those moving out of the city.
Newton Huxley founder Len Taylor takes us on a tour of this vibrant village.
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!
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.
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…?
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?
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 email@example.com
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!
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.
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.
Attention spans are shrinking as technology continues to improve speed and efficiency in almost every industry, and the property obsessed british population make no exceptions when it comes to estate agents.
This is why keeping regular contact with our extensive database of registered applicants is so important, one day a buyer may tell you they have a maximum budget of £300k and the next they receive inheritence and are looking up to £1m. To expect that buyer to call and let every agent know of their change in circumstance is unrealistic, especially when you consider they can look at all available properties within minutes on Rightmove.co.uk and Zoopla.co.uk
Newton Huxley are known for a proactive, efficient and high impact approach to marketing and this doesn't end with high quality photography and video tours (new!) as standard. Not only did we achieve a 3 minute response time to the mystery shopper which was in fact the fastest in Molesey, Esher and Thames Ditton, and 2nd fastest out of all agents in the KT postcode districts. We also provided an in depth response which satisfied the queries that the mystery shopper had about our properties. Our state of the art software allows our team to contact prospective buyers or tenants quickly, ensuring our properties are offered to every potential lead. This generates competitive activity on your property and ensures that we achieve the best possible price and secure the highest calibre of buyer or tenant.
If you are currently on the market, are yet to secure a suitable buyer or tenant and are considering a change of appraoch, we would be delighted to hear from you. Our methods are proven to achieve exceptional results versus our local competitors, and we are committed to providing the highest standard of service to our clients.
0208 396 6717
Recent Rightmove data shows that more homeowners in East & West Molesey are choosing Newton Huxley Estate Agents to sell their home over any other Molesey Estate Agent.
It really is great to see how recommendations spread fast. The team has worked tirelessly to provide all of our customers with a friendly, straight forward and diligent service. In such a competitive market and at a time when stock levels are lower than usual (a.k.a "a sellers market") we see our commitment to providing the best service available in estate agency really working wonders.
A sellers’ market is something that many home owners will welcome (especially if you're not making an onward purchase), as this inherently pushes property values upwards. However, the dangers of over pricing can also increase as agents "starved" of new instructions seek to impress potential clients with over inflated valuations. Not only can this throw a real spanner in the works in terms of the time it takes to sell your property, but it can also encourage low offers if your property remains on the market for a prolonged period of time.
Here are three ways we think sellers in the Molesey area can avoid the aggravation of price inflation:
1. GET A ROUGH IDEA ON THE VALUE OF YOUR HOME.
Simply having 2 or 3 estate agents out to value your property may not be enough, it may seem obvious but looking at other properties that are currently on the market, or that have recently sold will give you a very good idea of what your property is worth. A simply way to judge another property by comparison to yours is to check photographs for condition and floor plans for size. If the property is not under offer, check the listing history to see how long the property has been on the market. The internet is overflowing with local property price information and we have access to archive data on literally 1000's of properties. (contact us for more information 0208 396 6717 | firstname.lastname@example.org)
2. BROWSE THE WEBSITES OF POTENTIAL AGENTS.
We are surprised to learn that many of our clients ONLY call us because they have noticed "sold" boards or have received a letter from us, you can easily tell if an agent is proactive and a consistent performer by the presentation of their website, and the quality of their property photography. If you want to achieve the best possible price for your home you need to attract as many buyers as possible, presenting your home to the market with great photos on an easy to use website will make all the difference. After all, there is a reason that Waitrose can charge more for a bag of sugar than ASDA. It’s all in the presentation!
3. AVOID ON LINE INSTANT VALUATION TOOLS.
Some property and estate agent websites offer an instant valuation. The algorithms used in these apps are nowhere near detailed enough to provide a reliable valuation of your property. In some cases, we have seen these provide valuations that are off by over 25%! Until additional data can be stored within these applications such as square footage and internal condition we recommend you avoid the temptation to use them.
The first two weeks of marketing your property are crucial, and an unrealistic asking price can not only put potential buyers off, but will encourage "low ball" offers if your property remains on the market for too long.
Interpreting the market correctly and setting your asking price at just the right level will help you achieve the best result possible. We are proud to report that more than 70% of the properties we have sold are at record prices when compared with similar properties in the immediate area, whilst achieving more than 98% of asking prices throughout 2015, many of which were previously on the market without success. Further proving that our model for selling property is highly effective.
If you are considering selling in East or West Molesey and the surrounding areas, and would like an independent valuation of your home without obligation and free of charge. Please call our team on 0208 396 6717 or email email@example.com
We are constantly in need of additional stock to let to our register of tenants and we expect the new year to inspire many tenants to move home as per usual. Properties in; East and West Molesey, Esher, Thames Ditton, Walton On Thames, Hersham and Surbiton are of particular interest although all areas are eligible for the following offer.
We are offering to secure a tenant for your property within 2 weeks of marketing, and in the unlikely event that we are unable to do so we will reduce our letting fee by 50%.
Instructions to market your property must be received by the 14th January 2016. For more information, please feel free to contact me directly on 07885 206 at firstname.lastname@example.org or via the office contact information above.
Terms and Conditions apply – available upon request.
It is vital you instruct an agent who understands what lies ahead and has the necessary measures in place to see you through to the finish line. With the increase in sales activity the legal process is not likely to be in a position to keep up. With the land registry preparing to take over the property search process, local authorities are refusing to invest in the technology and resources required to improve the current system and as staff are leaving not a lot seems to be going ahead in terms of replacing them.
It is because of this that our team at Newton Huxley deal with recommended and approved solicitors, take extra care when agreeing sales, and stay on top of the progression as this is the most vital part of the process that needs an agent to deliver and work effectively.
The average national fall through rate for 2015 is reported to be as high as 27.5% to date, to find out more about how we operate differently from other agents, achieving a fall through rate of just 12.5%, please contact us on 0208 396 6717 or click this link to go to our valuation page and book your appointment today.
We are about to enter a sellers’ market, Halifax has put the average house price at £200,280, 3.3% higher than three months ago and up 9.6% from 12 months ago.
Martin Ellis, Halifax economist has said that the shortage of new properties coming onto the market has been a major factor in house price growth this year.
In a recent report from RICS (Royal Institute of Chartered Surveyors) confirms that the average number of properties on the market per estate agency is at a record low since 1978.
RICS said that both house prices and rents are likely to grow at a rate exceeding growth in wages.
Corporate Estate Agency LSL have also reported a 15% increase in sales last month. Signifying the start of the anticipated post-election boom.
At the start of 2015 there was a lot of speculation as to how the election would effect the property market. Following our launch in January we noticed that the market was incredibly price sensitive with pre election jitters.
As we gained more momentum and built up the number of properties we were marketing we noticed that many of the properties coming to us that had been unsuccessful with other estate agents were selling, and quickly. One example of which was a property in East Molesey that had been marketed for around 4 months by two established local firms prior to coming on with us.
In 4 days we were able to source a buyer and an askng price offer. Since then (March) the market has gone from strength to strength with confidence from buyers and sellers at high levels.
We are extremely pleased to report that the post election market is incredibly buoyant and we are achieving record results on a number of properties, with an average 98% of asking price achieved throughout 2015!
If you are considering selling your property or are currently on the market and experiencing a similar situation to the one mentioned above, please do give us a call on 0208 396 6717 or contact us to arrange a valuation. Whilst we cannot guarantee the same result, you can be confident that if it can happen, our proactivity and positive attitude will make it happen for you.