Lettings Market Updates & Property Advice!

Welcome to the April edition of the Greenstone newsletter.

First up this month we're pleased to say the housing market has seen its strongest spring for home sellers in a decade, with many of us thinking about buying or selling in the next few months.

With lockdown restrictions starting to ease, we've seen a surge in holiday let enquiries due to the stamp duty holiday extension being confirmed. Following the vaccine rollout getting underway, we're pleased to say residential transactions are 23% higher as the market begins to bounce back.

Finally, looking for extra ways to boost the sale of your property? We've put together the top 10 scents to have in your home.

We hope you enjoy this months edition. We also provide property tips, insights, and updates on our social media channels which you can click to follow at the end of our newsletter. As always, please get in touch if you have any property queries.

Best regards

Lewis Green, Director

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Your stamp duty and mortgage holiday questions answered

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Housing market sees the strongest spring for home sellers in a decade!

Many of us have been thinking about selling our homes in recent months, with a record number of buyers enquiring about properties on Rightmove.

Compared to this time last year, demand levels are 34% higher; even in light of the market's pre-pandemic surges in activity at the start of 2020.

There were moments of concern when thinking about how the rest of 2021 was going to play out, with a predicted cliff edge, but thanks to the stamp duty holiday extension and the 5% deposit scheme, buyer demand will be further boosted throughout this month and next.

The average asking price for a home coming to the market has risen by 2.7% in just the past 12 months, bringing the average house price to £321,064 in the UK.

National average asking prices.

Month	Avg. asking price	Monthly change	Annual change	Index
March 2021	£321,064	+0.8%	+2.7%	248.2
February 2021	£318,580	+0.5%	+3.0%	246.3

Despite fewer properties coming to market, the number of sales agreed for the first week in March was still 12% higher than 12 months ago, whilst almost two out of three properties currently on agents’ books are sold subject to contract.*

If you are thinking about taking advantage of this incredible demand and would like a quick sale, please book a valuation to start the process.

*Source: Rightmove

Surge in holiday let enquiries due to stamp duty holiday

Properties bought for the purpose of holiday lets have grown in popularity since the introduction of the stamp duty holiday, with the extension giving investors until June to see savings for homes worth £500,000 and until September for those worth £250,000 and under.

Holiday property provider – cottages.com – has seen a 35% increase in enquiries, with year-on-year enquiries rising by 70%.

The “staycation” boom isn’t going anywhere for the time being, as coronavirus restrictions ease and the country gets one step closer to being able to resume planning social events and trips.

The pandemic has reshaped how people holiday, with many more of us choosing to stay closer to home and taking fewer risks with our travel plans.

If you have been considering buying a second property to let short-term in the UK, you could see significant returns in time for summer.

Out of all the new listings on cottages.com, 70% have been listed from first-time holiday letters; showing a unique opportunity for investors.

To find your next buy-to-let investment, browse our latest properties.

Residential transactions 23% higher due to stamp duty and vaccine news

February saw a total of 147,050 residential transactions according to HMRC, which is a 23% increase from January’s total and a whopping 48.5% more than February 2020.

The cause of this surge seems to be as a result of the vaccine roll out, as well as the stamp duty holiday.

As transaction numbers increase month-on-month, we're able to see just how strong the market is, having shown tremendous resilience so far during the pandemic.

As buyers and sellers were previously rushing to meet the original stamp duty deadline, which should have seen savings end on March 31st, it's anticipated that even more sales will be agreed and records beaten over the next few months.

Whilst the stamp duty holiday as we know it will be in place until the end of June, offering up to £15,000 worth of savings, there will be homebuyers who benefit long after this date with a phased out easing that sees smaller savings until September.

Due to Brexit and then COVID-19, there have been delays and hesitations in the sector, with a number of us wanting to see a return of 'normality' before proceeding with any plans.

If you’re looking to start the buying or selling process in 2021, get in touch with our team today.

The top 10 scents to have in your home

There are many steps you can take to help attract prospective buyers, including cleaning and clearing away clutter, but what you may not know is that certain scents could help showcase your home and encourage buyers to put in an offer.

In a study of 2,000 people, UK mortgage comparison site – Bankrate UK – discovered that the nation’s favourite homely scent is freshly baked bread.

They also found that three of five age groups agreed that the scent wafting through the house not only provides comfort but also helps make your property more desirable.

Planning on putting your house on the market?

Check out what other scents you could be using that will help sell your home and where you should have them.

Top 10 scents to have in your home

- Freshly baked bread (38.6% popularity)

- Fresh linen (32.8% popularity)

- Coffee (28.7% popularity)

- Vanilla (18.8% popularity)

- Lavender (17.5% popularity)

- Fresh cut grass (15.7% popularity)

- Cinnamon (11.7% popularity)

- Chocolate (7.7% popularity)

- Blossom (6.8% popularity)

- Sandalwood (6.7% popularity)

Top scents by room

Living room – woody or oriental

Hallway – floral or oriental

Dining room – sweet

Kitchen – citrus

Bedroom – aromatic

Bathroom – citrus

Home office – woody or oriental

To start the process of buying or selling this month, contact our team today.