Is now the right time to sell?

Figures from August show UK mortgage borrowing increased by the largest amount since the economic crash and should be taken as another sign that the housing market is heating up.

According to the Financial Times mortgage lending rose £3.4bn. The amount of new mortgage approvals for house purchases have reached an 18-month high of 71,000, according to figures released last Tuesday by the Bank of England.

Approvals for mortgaging also rose in August from the previous month as home owners sought to lock in current low interest rates deals.

Expert analysts are constantly warning that a shortage of supply on the market has been driving up values, especially in the London and Greater London Area.

With this in mind, if you are thinking of selling now is the perfect time to come to market before the Christmas market hits and buyers slow down. If you are about to come to market or already selling and you are without a buyer, call us to find out more about these findings and how our results back this information.

Sam Kamali | Diretor of Residential Sales

0208 396 6717 (option 1) | sam@newtonhuxley.co.uk

This is great news right? Absolutely! But it is highly advised to proceed with caution.

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.

The predictions are this will be an ongoing obstacle home movers could be looking at dealing with for the next 10 years.

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.

Is it really a sellers’ market? We think so. Having reviewed transactions throughout the first six months of 2015 we can confirm there has been a steady increase in buyer activity. We can also see evidence that properties will begin securing buyers that have previously struggled to sell. Here are our reasons why:

Tory Victory In General Election

Many believed the post-election market would immediately take off, however confidence in the market that was anticipated did not arrive. Homeowners that were expected to put their property on to the market post-election delayed their move creating a shortfall in property stock for proceedable buyers, which has increased demand to supply ratio significantly. This is the main factor in our achieving over 98% of asking prices throughout 2015.

Low Interest Rates

Attractive interest rates have not just increased activity from buyers, many homeowners have opted for a remortgage and to stay put, further exasperating the current market. Recent media reports suggest that interest rates are set to remain low for the foreseeable future. In some cases remortgages are saving homeowners £100's of pounds a month on repayments – if you would like us to put you in touch with a broker to explore potential savings please call us on 0208 396 6717.

Increase In Buy To Let Activity

Partly due the lower interest rates available, there has been a jump in the number of investors registering for buy to let opportunities, increasing competition for property even further.

So what is the right choice for you?

For a confidential discussion, whether or not you are looking to Sell or Buy in the East Molesey, West Molesey, Thames Ditton, Esher or Walton On Thames area please get in touch on 0208 396 6717, email info@newtonhuxley.co.uk or request a valuation.

With the recent opening of the Sainsbury's Local on Walton Road in Molesey, we looked into whether or not this would have an effect on local house prices.

Research conducted by Lloyds Banking Group earlier this year found that the price of a property within easy reach of a supermarket, is on average 7% higher than comparable properties within the same town.

You may not be too surprised to hear that the brand of supermarket also comes into play with Waitrose scoring the highest percentage premium at 12%, Sainsbury's at 10% and Tesco's at 8%. Having an Aldi or Lidl close by may actually have a negative effect on the value of your home of around 2-3%.

The effects of local supermarkets really do vary from region to region but in monetary terms, houses within walking distance of a supermarket command an average premium of just over £15,000. Needless to say, this local convenience is high on the shopping list for potential buyers!

If you live close by to the new Sainsbury's on Walton Road in Molesey and would like an up to date valuation of your home. Please feel free to get in touch on 0208 396 6717, email sales@newtonhuxley.co.uk or send us an enquiry.

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.

Residential Sales

Since December 2014 asking prices in Surrey have increased by 4.1%, although this increase is now showing signs of slowing down, demand for property is still high as shown below.

This impressive level of demand for property in the KT8 area leaves an average of over 59 home buyers per property. This is sure to keep the housing market in Molesey strong throughout 2015.

Residential Lettings

Government are promising more regulation within the rented sector, just one of many signs telling us that generation rent is here to stay. Locally, the KT8 postcode offers great choice and reasonable rent prices compared to neighbouring towns as listed below, further increasing popularity in the East and West Molesey areas.

If you are considering Selling or Letting your property with an Estate Agent in East Molesey, and require a specific valuation and market appraisal. Please contact us on 0208 396 6717 or email info@newtonhuxley.co.uk

ALL VALUATIONS ARE FREE OF CHARGE AND OFFERED WITHOUT OBLIGATION

Recent reports from Rightmove state that since the peak in June 2014, asking prices have decreased by 0.4%, hardly a cause for concern.

With the election drawing ever closer, and with buyers facing more hoops to jump through when applying for a mortgage, hitting the property market with as much instant exposure as possible is more important than ever. This means: High Quality Photography, getting your property listed on major property portals Rightmove, Zoopla and Primelocation. Furthermore, (and we know how "salesy" this sounds) making sure your agent is proactive and has a hunger for success. Photography and extensive advertising will generate interest in your property, but if the agent is not motivated in converting these enquiries into viewings and offers you will miss out. The first 2-3 weeks of your property hitting the market is when you are most likely to achieve the best price for your home.

If you are considering selling your property in East Molesey, West Molesey, Thames Ditton, Esher, Walton On Thames, Hersham or Surbiton and would like a free valuation please contact us on 0208 396 6717 or email sales@newtonhuxley.co.uk

Thank you for reading and we look forward to hearing from you soon!

According to Zoopla statistics, the current asking price for a property for sale in East Molesey is £766,459 and that property values have increased 6.9% in the past year alone, go back to 5 years ago and property values in East Molesey have increased by a staggering 27.4%.

For those who purchased a property at this time in East Molesey for £550,000 (approximate average value at that time) your property could now be worth in excess of £700,000!

There has been a lot of speculation as to how the property market will change with the looming general election. In fact, there are now more buyers looking to purchase a property with a fixed rate mortgage before the anticipated rise in interest rates. As local estate agents in East Molesey we can confirm this is exactly what is happening. The property market isn’t as complicated as some popular media streams may lead us to believe, it’s a simple case of supply and demand… When demand increases for property in your area, house prices can only go one way!

If you would like to know more about property for sale in East Molesey, the local market or would like to know more about our 0% launch commission rate (available until 7th March 2015). Please call us on 0208 396 6717 or email us at info@newtonhuxley.co.uk