January's market update

January's market update




Positive property market predictions for 2022

 

The 2021 property sector has been record-breaking and 2022 is predicted to be no different.

 

As we head into the new year, what is in store for the housing market? 

 

House price increases

 

As we head into 2022, the average UK house price has hit a record-high of £254,822, which is £23,902 more than the average in January 2021. *

With property priorities changing to favour gardens, large living spaces, rural locations, home offices and dining rooms, prices for properties with these features are set to increase further. 

 

Demand stability 

 

Over one-third of properties sold towards the end of 2021 achieved above their asking price, due to the spike in buyer demand. * 

2022 is predicted to be just as lucrative for sellers, however, experts have stated that buyer demand will be more stable. This will allow for more property choice if you’re considering a move. 

 

Remortgaging activity  

 

£316 billion worth of home loans were granted during 2021, thanks to a strong level of buyer activity.**

2022 is set to remain just as strong for mortgage lending, with more remortgaging activity expected to take place. 

 

With so many positive elements to take away from 2021, and a bright future for the property market ahead, now is a great time to evaluate your options. 

 

If you’re thinking of buying or selling this year, contact us. 
 

 
*BBC.co.uk 

 **Independent  



What will happen to property prices in 2022?

 
The sudden appearance of COVID-19 kickstarted a tidal wave of market activity as people nationwide upped sticks and pursued a new life elsewhere.
 
In 2021 alone, house prices increased by 9.8% in England and 15.5% in Wales. *
 
But, can we expect house prices to continue soaring throughout 2022?
 
Well, a major property portal still predicts prices to rise by 5% in 2022.
 
It has also reported a 19% hike in valuation enquiries since December. **
 
Whether these figures are buoyed by those taking advantage of a more flexible working environment or wishing to return to the lifestyle they had before, it’s clear that many people are looking to move soon.
 
With buyers flooding the market and the spring boom on the horizon, now could be the perfect time to sell.
 
The expected peak could also be good news for buyers as higher values tempt more sellers to list.
 
Therefore, the market may begin to balance out while continuing to strengthen.
 
Still unsure what your home is worth?
 
The last two years have taught us that the property market is highly dynamic and rapidly changing.
 
That’s why we recommend an up-to-date appraisal – you may be pleasantly surprised.
 
Our friendly team are on standby to advise on your unique situation. We’ll share insights about the current market and furnish you with an accurate valuation.
 
Contact us today to discover your property’s true potential.
 
 
*Based on recent data from the UK House Price Index
**Compared to the same period in 2020.



How to prevent emergency property issues as a landlord

 

As a landlord, it is a legal responsibility as well as a moral obligation to make sure your tenants feel safe in your property. 

 

Additionally, emergency property issues are costing landlords billions every year, according to research from Direct Line. 

 

For both the reasons above, it is important to help prevent the need for emergency callouts and issues – where possible.

 

The most common issue for landlords to fix is plumbing, closely followed by gas or heating.

 

Thankfully, on average, plumbers have the best arrival time out of all contractors, with a typical response time of 13 hours from first contact, whilst gas and heating engineers take a little longer to respond at 21 hours. 

 

We've provided a few useful tips, which should go a long way to preventing these problems.
 
1) Clean your pipes often

 

Hair, grease and other gunk can build up in your drains over time, potentially causing a blockage. 

Using a non-corrosive drain cleaner is a great idea to clear the grime in your pipes. 

 
2) Annually service your boiler

 

Whilst it might sound unnecessary to have your boiler checked every year, a qualified heating engineer will be able to spot minor issues that need fixing before the situation escalates. 

 

3) Insulate your pipes

 

During winter, it’s important to ensure your pipes don’t freeze, as this could cause them to burst. 

Insulation can be cheaply purchased from many DIY stores and is easy to install. 

 
4) Check your fuse box is in date

 

It is easy to forget about your fuse boxes, however, they contain essential features that prevent electrical faults and fires. 

If your fuse box is close to expiring, hire a qualified electrician to ensure the property is safe. 

 
5) Change the smoke alarm batteries


Whilst this isn’t an issue that requires an emergency contractor, it could require the emergency services if left neglected. 

Smoke alarms are crucial to alerting people in the property of a potential fire and could be the difference between life and death. 

Batteries are cheap to buy and easy to install, making it a simple job to protect your tenants and your property. 


For any questions about our services for landlords, get in touch from our website. 

 



Freshen up your rental property without making permanent changes

 

When decorating a rented property, there are many things you must bear in mind when making any dramatic changes, including getting the landlord’s permission. 

 
However, there are plenty of ways to add personality to the property without risking your deposit, including: 

 
Layering up


Creating layers in a room is a great way to allow a home to feel lived in. 

By simply adding soft furnishings like cushions, blankets, curtains and rugs, you could make your rental feel a lot more like home. 

If you’re unsure where to start, find a major furnishing that catches your eye – such as a nice rug – and build from there using similar fabrics and colours. 

 
Investing in indoor plants 


Houseplants are a great way to brighten up a room. 

These are often inexpensive and require minimal to no effort. 

Even if you lack a green thumb, there are plenty of options such as using artificial plants that will require far less work to maintain! 

 
Letting loose on lighting 


If your rooms are lacking in natural light, opting for a well-positioned lamp can flood the area with some much-needed brightness. 

Light fixtures can be practical and stylish, with many energy-saving options available, such as LEDs to brighten your home and reduce the impact on your wallet and energy consumption. 

With many types of lighting available, it’s important you spend some time comparing to find the right “glow” for your home. 

 
Hanging artwork without the need for nails


Having a home filled with personal photos on the walls is a great way to set the right atmosphere in your rental. 

By using damage-free picture hanging strips, which can be found in most DIY stores, you can avoid losing your deposit due to holes in the paintwork. 
 
Making the most out of your space 


Most of us wish we had more space in our house to fill with our personal belongings, so why not create it by investing in multifunctional furniture for your rooms? 

Not only are these practical but many options are also stylish, meaning you don’t have to compromise on the aesthetics of your home. 

From the garden to the bedroom, there are many ways to save space by creating a multi-purpose environment, such as a home office. 

 
For any advice on the services we offer for landlords and tenants, get in touch today.  

 



Achieve a quicker sale by avoiding these decorating mistakes

 

With the property market seeing a lot of demand, sellers need to present their homes in the best possible light in order to beat the competition. 
 
These common mistakes could mean that your home receives less interest and fewer offers, so it's worth your time and consideration to rectify the following: 

 
Misplaced curtains 
 
Curtains are a really effective way to keep your house warm, frame your windows and add a splash of colour or texture to any room.

 

However, the positioning of curtains can impact the look and feel of the living space in a negative way.

 

Whilst you might assume that they should be hung just above the window, this actually makes the area feel smaller than it is, so it's advisable to emphasise the height of the room by fixing them as high as possible. 

 
Open wardrobes 
 
These can look great in pictures and act as a really beneficial feature to your property, however, they can soon appear untidy or ruin the room's aesthetics.

 

It’s important to remember that for open wardrobes to look good, a minimalistic layout is necessary.

 

This can often be unpractical, especially if you're still living in the property, but try to create clear spaces to avoid deterring buyers and devaluing your home. 

 
Overkill on florals 
 
Whilst 80s floral patterns could be making a comeback, it’s important to not get too drawn into trends. 

 

Going for strong design elements is a way to express your own character on your home, but you run the risk of putting buyers off by using overly decorative styles. 

 

If you do decide to opt for patterns, use them as an accent rather than for every wall and piece of furniture, as this will add longevity to the design. 

  

Buying furniture that is too big for the room 
 
Sometimes when shopping for new furniture, we can be completely drawn to a certain item, regardless of whether it works for the space we have. 

 

However, if you're planning to move in the next few months, it’s vital that you try to avoid any purchases that don't make sense for your home. 

 

A room that is too cluttered could seem much smaller than it is. With living space incredibly important for current homebuyers, it is important to maximise the space in each room. 

 
If you’re thinking about selling your home, start the process today by booking a valuation with us.