Property with Potential — weekly round up
With road out of lockdown set to be announced, life soon may start feeling a bit more normal, but what will that mean for home owners and property prices? Only time will tell. This week we have a range of property news from across the UK including how one housing company is offering a full deep clean to new residents, information about the National Landlord Investment Show, and how prices have flatlined reducing the number of new properties on the market. And of course, we have a brilliant Property of the Week to share with you.
New Homes to Receive 24-Hour Sanitisation Clean
Along with the pandemic came a whole new level of hygenine and cleaning. Pye Homes is ensuring all its newly-built properties receive a comprehensive sanitisation clean before homeowners move in.
The new hygiene procedure is part of a series of initiatives including virtual viewings and appointments introduced by the award-winning Kildington-based developers in the wake of the coronavirus pandemic.
Specialist cleaning team RK Build Cleans use a fogging machine to produce a fine disinfectant spray throughout the entire property, which ensures it is thoroughly sanitised for a period of up to 24 hours.
The new protocols are in place for all new properties sold at both its Hanborough Gate and Park View developments and will become standard with all Pye Homes’ future sites.
“Customers are at the heart of our business, our sales team take the time to get to know every customer and what they want,” said Pye Homes’ MD Graham Flint.
“That’s why we have introduced this new initiative to keep everyone safe; it’s about building communities and we believe that starts from day one.
“In the run up to any house being handed over to its new owners there is often a significant amount of trade traffic in order to ensure the property is fully ready to welcome its new owners.
“The Customer Care Decontamination Clean provides peace of mind and an extra level of security to homeowners that the property they are moving into is safe and sanitised,” he added.
National Landlord Investment Show Returns With a Third Online Super-Show
Zoom calls and online conferences have certainly been big news during 2020 but that is set to continue as the the National Landlord Investment Show is delighted to be returning with a third online super-show, Wednesday, 24 February 2021.
The National Landlord Investment Show is still the only national online show dedicated solely to the UK buy-to-let market. With over 30+ seminars and a very lively debate with industry experts, delivered in the comfort of your own home, this is not a show to be missed.
The day kicks-off at 9.30am with the big morning debate ‘Stick or Twist’, hosted by Paul Shamplina, founder of Landlord Action (as seen on channel Fives’ Nightmare Tenants, Slum Landlords. A panel of Industry experts will be discussing what they think the next year has in store for Landlords, including legal issues, political outlook, market forecast and positives / negatives for the next 12 months.
For anyone with an interest in the UK property market this is an essential event, panellists include: Ben Beadle, CEO of the NRLA; Kate Faulkner, Property Analysist and Commentator; and Jonathan Schuman, Managing Director of Magnet Properties.
Following-on will be a day of back-to-back speakers and seminars offering expert advice regarding; taxation, legal, finance, HMOs, training, management, proptech and investment opportunities in emerging UK property hotspots. This event will help both seasoned investors and aspiring landlords wishing to enter the UK buy-to-let market. The 24 Feb show has everything you need to enter the sector and to grow and retain a property portfolio.
To register for free admission please visit https://www.landlordinvestmentshow.co.uk/24-feb-online-show
Prices Flatline While Supply Plunges Due to Lockdown
The current lockdown is radically reducing the supply of new listings entering the market, according to the Home.co.uk Asking Price Index for February.
Less than three quarters of the expected number of new instructions materialised during January. Vendors’ hesitation is understandable amidst worrying developments in the ongoing health crisis and many sensible and responsible buyers are staying away from physical viewings altogether.
Huge drops in supply are evident in Scotland, Wales and all English regions with the exception of Greater London, where de-urbanisation continues to bloat estate agents’ portfolios.
The lack of supply means that the stock of property for sale has fallen to another long-term low and this will support prices when more normal buyer activity returns. Indeed, Scotland, Wales and the East of England all show surprisingly large price hikes since last month (1.6%, 1.1% and 0.5% respectively), suggesting that the shortage of stock is emboldening vendors when setting the asking price.
Rapidly falling rents in the more central boroughs and the trend towards de-urbanisation means that London prices are on the back foot. Overall averages for Greater London hide the fact that the median flat price within a 10-mile radius of the centre has fallen 5% over the last twelve months, while in prime central areas such as Belgravia, the median asking price has dropped as much as 14%. We expect prices in central areas of the capital to continue to slide in the near term.
Meanwhile, rents are rising rapidly in the regions with year-on-year changes in double figures owing to a dramatic shortage of stock to let. Until supply increases, and this is not expected in the immediate future, rents will continue to rise sharply and this will also push up sale prices in the English regions, Scotland and Wales.
The annualised mix-adjusted average price growth across England and Wales is currently a remarkable +4.5%; in February 2020, the annualised rate of increase of home prices was just 0.9%.
Property of the Week — Greenlands, Bowness-on-Windermere in Cumbria
If you’re a fan of the 60’s, especially 60’s decor, then you’ll love this weeks property of the week. It is packed full of character and hasn’t seen any change since it was built in the 1960s.
Greenlands is a large detached residence originally built in the 1960’s occupying an exclusive location in one of the Lake District’s most sought after areas, between Storrs Park and Blackwell with nearby attractions including the shores of Lake Windermere, Motorboat club and the Arts and Crafts house at nearby Blackwell.
Situated on a quiet cul-de-sac in a sought after area on the fringe of the popular Lakeland village of Bowness-on-Windermere this detached, elevated residence with stunning World Heritage views of the Lakelands Fells and Lake Windermere offers four bedroom family accommodation together with garage and carport, ample parking and fantastic gardens.
Set in approximately 0.4 of an acre of mature gardens, enjoying panoramic views of Lake Windermere and beyond to the Western Lake District fells,
The property is also convenient for junction 36 of the M6 motorway. There is a railway station at Windermere for Kendal and Oxenholme with a link to Main West Coast line.
This property is on the market for £850,000 with Matthews Benjamin
