Thinking of selling soon? We'd love to help: BOOK A VALUATION
A well thought out ground floor layout includes an entrance hall, a study/playroom, utility room, modern shower room, a good size living room and a beautiful open plan kitchen/dining/family room, finished to a high standard with doors to the landscaped garden.
First floor accommodation delivers four well-proportioned bedrooms, and a desirable family bathroom which includes a bath and a separate shower.
Outside the property there is the large rear garden which is Southerly facing and to the front is a paved driveway offering parking for 2 cars.
Viewings are highly recommended to appreciate the size, setting and quality of finish available with this family home. Call Newton Huxley Estate Agents today to book your appointment to view.
Our sales team did a fantastic job selling this property that had been marketed by 2 other agents over the last 13 months.
Within 6 weeks of them coming to market with Newton Huxley we had a buyer in place and have just exchanged contracts with the proud new owners of this stunning Edwardian property.
If you're looking to sell in Claygate my team can help, book a valuation here: https://lnkd.in/dtVWQds
For many homeowners waiting for the right time to move, it has been a difficult decision to make for the past few years. The property market in the UK has been subject to an onslaught of market slowing events with what feels like endless elections, the EU referendum, changes to stamp duty land tax, and then this year to top it all off, the world was pretty much shut down by a coronavirus pandemic from COVID-19.
As soon as the property market was put on pause, the headlines wrote themselves, and the media reported that the property market apocalypse was approaching… but it never arrived.
Then, as the property market opened again, we were warned about how tough it was going to be to sell our properties, so was this prediction right?
Let’s take a look at what the data tells us…
The below graph is taken from Rightmove data for the KT7, KT8 and KT10 postcodes which covers Thames Ditton, East and West Molesey, Hinchley Wood, Claygate and Esher (where Newton Huxley sell the most properties).
The local property market was showing very positive signs at the beginning of the year throughout January and into February, with the number of New Listings and Sales Agreed at healthy levels as you would expect to see. Then things began to turn in March as COVID-19 became the focus of everyone’s attention, and finally in April the market stopped almost entirely as viewings and mortgage applications were no longer possible.
In May, we can see the tide beginning to turn with urgent moves progressing and then in June we can finally begin to see what the property market looks like post lockdown… and so far it looks very good!
New property listings are quickly returning to pre-covid levels and as these properties attract the wave of new buyers from Central and South West London, we expect the number of sales agreed to catch up in July.
Our own internal data also shows positive signs for the local property market, with the number of offers received in June being at its highest level since October 2017.
This next graph shows the number of new buyers registering (people calling to ask us to help with their search for a property,) viewings booked, and the number of individual offers received on our listed properties.
Whilst it is too early to know for sure what the long-term impacts of COVID-19 will be on the property market, property transactions in the South East have been stunted since Stamp Duty Land Tax was changed in 2016 (by as much as 30% in our local area), and a bottleneck of buyers waiting for the right time to make their move has been building ever since.
Now interest rates are lower than ever before, and we’ve experienced a genuine public health issue that has had an impact on every single person one way or another. For many this has put things into perspective, and has served as a catalyst to further increase buyer migration out of Central and South West London, with some 51% of buyers that already live in the capital looking to move out.
With so many properties coming to market right now, and with lenders tightening criteria for mortgages, it is unlikely your property value will be shooting up any time soon. Many market reports are suggesting a 0% change in property values this year, and a modest 2% next year. So, if you have been waiting for the right time to move over the last few years like so many others in the KT7, KT8 and KT10 postcode areas, now is the closest you are going to get to the perfect time to finally get moving!
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
We are proud to announce that we have started 2020 the best way we could have imagined, with the acquisition of one of the longest standing and locally renowned businesses in Claygate Village. The team at Catling & Co, along with an extensive portfolio of managed rental properties is a welcomed addition to our business, and we look forward to building upon their local reputation and the service they have provided to the Claygate community over the last 25 years.
Although we will be converting the high street office at 15 The Parade, Claygate, KT10 0PD into a Newton Huxley branch at the begining of February 2020, the Catling team will remain in this branch and we welcome their continued support in maintaining the proactive, professional and approachable reputation that Newton Huxley has built since our launch in 2015.
John Catling, who will remain as a consultant for a period of time during the transition has released an open letter to clients past and present:
As Catling & Company enters its 26th year of trading, it is with a heavy heart that I have finally made the decision to spend more time with my family and retire.
I have taken careful consideration to ensure that my loyal clients remain in good hands, and at the end of 2019 I officially handed over the reins to Len Taylor & Sam Kamali at Newton Huxley, who are another local, bespoke agency just like Catling & Co. I have no doubt in my mind that Newton Huxley, together with my team at Catling can at the very least maintain the standards we have upheld over the last 25 years, and will work to improve upon them.
Sarah Wren and the rest of the existing Catling & Company team will remain indefinetely, I will also be retained as a consultant to assist with the transition for a period of time.
I would like to thank you for your continued loyalty and custom and very much look forward to the next chapter.
One of the Managing Directors at Newton Huxley, and local Claygate resident Len Taylor had this to say about the recent aqcuisition of Catling & Co:
We are delighted and feel priveleged to have been given this opportunity to work for the clients that John and his team have taken such good care of over the years.
As a Claygate resident myself I feel very fortunate that we have such an active community and have experienced first hand the positive impact this has on local residents, and I hope we will be able to contribute for many years to come.
As estate agents we also know that this is part of what makes the area a number one choice for young families moving from South West London which is why we opened here in the first place. I hope that we can rely upon the support of the local Claygate community, and in return we will continue to provide a reliable, trustworthy service that we are immensely proud of.
The team at Newton Huxley are already experiencing increased interest in our available properties both for sale and to let for January. 2020 is widely anticipated to be a positive year for the housing market, and we invite you to pop into the newly refurbished branch from 1st February should you wish to discuss the local market or any property plans you may have.
Tenants will stay for longer and your property will let much faster if you correctly maintain kitchens and bathrooms, you don't have to install a new kitchen for every tenancy but if your kitchen or bathroom(s) are more than 10 years old you may want to consider having some improvement works carried out such as replacing cupboard doors or worktops. Make sure any dripping taps are fixed, under cupboard lightbulbs are all working and appliances are sparkling clean before you start marketing the property. Good tenants hold these things in very high regard.
Many landlords have heard horror stories about being caught on on missed legal obligations, and some landlords just assume they are legally compliant becuase they have a gas safety certificate and have put the tenants deposit into a recognised scheme. This gives us horrendous anxiety as there is so much more to it and there will be more to come as legislation continues to evolve!
Depending on your own circumstances and the type of tenancy you have, your legal obligations can vary drastically and fines for non compliance can range from hundreds to thousands of pounds, and some even carry prison sentences. If your property is already let and you would like to know if you are legally compliant, we offer a free tenancy health check to landlords in the KT postcode area, just email firstname.lastname@example.org with your name and the address of the property and we will guide you through our checklist.
Many landlords will know the pain of having an empty property, and this can quickly turn your year from a profitable one to a loss. For example a property with a typical rental value of £3000pcm will lose £692 per week if left without a tenant, and that's not including council tax, gas, electric, water rates and any service charges (if you own a leasehold property). If for example you previously let your property for £3000pcm in a more buoyant market and your tenant is leaving during a more competitive season or less buoyant market, you are better off discounting your rent by £100pcm to secure a tenant quickly, and avoid having the property empty, leaving you with lost income and footing the bill of running costs for an empty property.
When you do need to find tenants, how will you market your property? Tenants are more likely to enquire about a property that clearly lists key benefits, has good photography and most importantly, a floor plan. Taking a few quick shots, adding a brief description and an asking rent will just about get the job done most of the time, but is that the right attitued to have towards such a valuable asset? Wouldn't you rather attract a tenant who appreciates good presentation and communication? Reliable tenants mean less stress and less risk, a good letting agent will sense an ideal match, and ensure they secure the best tenants for their clients property.
If you are a landlord with a buy to let mortgage you may want to look at available rates if you are approaching the end of a fixed term. In some instances you could save hundreds of pounds per month just by switching lender. This can be done with a quick search on one of the various comparison sites, but if you want to be extremely thorough, we can put you in touch with our own financial advisors who would be happy to search the market for you as they often have rates available to them that are not available on the open market. Just email email@example.com if you would like to discuss this in greater detail.
Do you have a property that always seems to attract professional sharers? You may be able to get a better return by letting each room rather than under one tenancy. In most cases this can increase monthly return by 20%-30%, but it does come with its own set of legal requirements and associated risks, however when managed correctly it can boost income signficantly which will not only give you better cash flow each month, but can give you options to borrow against your increased rental income to expand your portfolio. Contact our lettings team at firstname.lastname@example.org or call Len Taylor on 01372 631 622 for more information.
If you are letting a house that attracts family tenants and you are looking for a long term let, it may be worth allowing pets into your property if you are not already doing so. It is exceptionally rare that they cause problems, and its worth making allowances in return for a long tenancy with a reliable and usually hassle free tenant. As long as your tenancy agreement reflects the additional responsibilities to the tenant and their furry friend.
Where market trends are on the rise, request an increase in monthly rent to keep in line with market values. A small incrase of just £25 per month equates to £300 per year which will cover most if not all of your maintenance costs for any repairs at the property over a 12 month period. If the market value reflects this there is no reason why you should miss out! If you would like to get an idea on the current rental value of your property quickly, you can use this free instant valution tool here.
This really only applies to those letting houses as opposed to apartments. Many landlords forget that tenants are buying a product, and they can make their decision before they even enter the property. Keep your windows clean, driveways free of weeds, brickwork, gates and paving all in good shape to make a good first impression that will go a long way to helping your property stand out against the competition, helping you to secure a better tenant and command a market leading monthly rent.
It isnt pure luck that some landlords enjoy long term tenancies with minimal fuss and some seem to have to replace tenants every year with non stop maintenance issues. Responding to maintenance requests quickly are not only part of your obligations as a landlord, but it keeps tenants happy, which will likely mean they stay in your property for longer, and are more likely to agree to rent increases. Most long term renters have had a bad experience with a badly maintained property, they will see the value in being looked after and will want to stay with you as much as you want to keep them.
We understand that some landlords do not have the time or experience to correctly maintain proeprties and their obligations, which is why we offer a full tenancy management package so you can forget about the day to day running of your investment and get on with your day to day life with peace of mind. Even if we did not palce your tenant we can take over the management of your property, if you would like to discuss this further please email email@example.com or call 013720631 622 and ask to speak to our Managing Director, Len Taylor.
There are always many schools of thought when it comes to letting, and it really depends on what type of tenant you want to attract. We hope that you have found the above useful and if you would like to discuss the local lettings market or recent changes in lettings legislation that may affect you or your investment, please contact our lettings team on 01372 631 622 or email firstname.lastname@example.org.
As always, if you have a property to let and would like us to visit your property for a market appraisal, you can book your appointment here.
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 email@example.com
There are many reasons why your pipes can freeze during winter months:
In very cold weather, you'll need to leave your heating on a low setting (or set it to come on a couple of times a day), especially if you're going on holiday for longer than a day or two.
We hope that you have found the above useful, should you require the services of our property management team we are always on hand to help – 0208 396 6717 – firstname.lastname@example.org
The current property drought is nationwide, with the average price of a property sold subject to contract in the UK in September at £221,797. On top of that, the supply of properties for sale is 14.3% down compared to 12 months prior, and 3.1% from August this year.
New instructions are also down 18.5% in London, where the average house price last month was £521,383.
Buyer activity is being magnified, with new buyer registrations up 8.4% annually, in particular the number of new first-time buyer registrations is up 7.4% with the current low mortgage rates.
Already we have seen a spike in new buyer registrations with many homes going under offer with the first seven days of marketing, and on average we are acheiving 98% of asking prices. A sure sign that there are more buyers per property.
The affect this has had on the Molesey property market is great news for those planning to sell in the near future. In the past 6 months property prices in East and West Molesey have increased by £15,583 on avg (2.86%), with 117 transactions in the KT8 postcode area in the same time period.
For the first 6 months of 2015 there were 164 transactions which shows a drop in completed sales of around 28%. It is no wonder then that as the amount of new buyers searching for a home increases, and new instructions coming to market dropping, property prices have increased significantly.
This bubble will burst when mortgage rates rise and there are numerous reports that suggest this will happen in the not too distant future, when this happens we anticipate buyer activity will decrease and property values will level off temporairily. We therefor urge anyone considering selling to take advantage of the current market and to bring any plans to sell forward where possible.
Should you require a valuation and market appraisal of your home our appointments are offered free of charge and without obligation. Please contact our sales team on 0208 396 6717 to arrange your appointment.
Sam Kamali | Sales Director
07957 301 214 | email@example.com