Lettings Market Updates & Property Advice!

Welcome to the January edition of the Greenstone newsletter.

This month we discover:

- Experts predictions for the 2022 property market

- How you can prepare your property for a February sale

- How to speed up your property sale

- Which room in your home is the best value for money

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

Your stamp duty and mortgage holiday questions answered

undefined

Positive property market predictions for 2022

The 2021 property sector was 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.* Central London showed an average price of £1,544,823 with properties in the Westminster Borough averaging £1,512,993, an increase from 2020***. With property priorities changing to favour gardens, large living spaces, 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

***Rightmove

Prepare your property for a February sale

Time to pack up the decorations, Christmas is over and 2022 is here!

If you’re preparing to sell your property this year, then you might be unsure about what you need to do beforehand.

Don’t fret, we’re here with a list of top tips to help get you ready to show off your property.

Create a good first impression

Remember that the first impressions of your home are essential during a sale.

With that in mind, making sure your home’s exterior is visually appealing and attractive will be your biggest priority in preparation for listing.

We’d strongly recommend that you take the following into consideration:

Clean your windows, it’ll be easy to notice if you haven’t!
Give your front door a lick of paint to freshen it up and make your entrance feel more welcoming, you can easily do this by replacing the doormat if yours is looking a little tired.
Tidy up your hall by removing any post.
Remove weeds from your path and tidy your garden.
Make space on your driveway for visitors to park.

Upping your presentation

It is also important to ensure your home’s interior is presented in its best possible light, as this will provide buyers with a vital opportunity to picture how they will fit into the living space.

A simple suggestion, but one which can have a massive impact, is to declutter. Removing large bulky items from view will help maximise your home’s space.
Let in the light by keeping the curtains open, windows clean and any natural sources of light clear to give your home as bright a feel as possible.
Make sure all rooms are heated prior to viewings, even those you don’t use often, to provide your home with a cosy feel during the winter months.
Keep your bathroom and toilets clean, free of mould and tidy, and make sure your toiletries are kept to a minimum.

Time-consuming as it may seem, keeping your home organised and welcoming will put you in good stead for when the viewings start.

Remember; visitors need to be able to imagine themselves in your home!

For further guidance on selling your home, contact our expert agents today.

Tips to speed up your home move

There are some elements of a home move that may be out of your hands. That said, if you're prepared and communicative, you can certainly have an influence on the overall process and reduce any additional delays.

Respond in a timely manner

This might be an obvious tip, but it’s not uncommon for buyers or sellers to take their time when responding to something simple.

When you receive documents to fill out, it’s important that you don’t dwell on the task for too long.

It can be tempting to leave paperwork to the last possible minute, but if possible, you should set aside time within a couple of days of receiving them.

Be flexible

Right now, there are many things that could force you to compromise and deviate from the initial plan.

For example, if you’re scheduled to move in the next two weeks, but the buyer would like this to be earlier, are you able to compromise?

It might be worth considering outlining your limitations from the beginning so everyone can plan accordingly. This will avoid any surprises later on.

 
Organise your questions beforehand

If you need to make an urgent call regarding your home move, write down all the questions you might need to ask before you pick up the phone.

This will allow you to get the answers you need in just one call, instead of having to go back multiple times as and when you think of new queries or concerns.

Ask away when choosing your solicitor

Whether you've been recommended a solicitor or you've found one for yourself, it's always a good idea to call them before making your choice, as you need to determine if they're the right fit for you and your property.

If you’re unsure about what you could ask, use some of the following questions:

- What should I expect from the process?

- How will I know when tasks are completed?

- How will you communicate with me?

- Are you aware of any delays which might occur?

If you’re looking to move home, browse our latest properties or speak to us today. 

Which room in your home is the best value for money?

Whilst it might be the furthest thing from your mind right now, making home improvements is the perfect way to spend all that extra time indoors.

In order for you to know where to concentrate your energy, we've outlined the rooms considered 'best value'.

Perhaps unsurprisingly, the best-valued room has been revealed as the master bedroom, where we spend an average of 2,482 hours a year.

A recent study from comparethemarket.com has shown that Brits spend £308.51 each year on renovating the main bedroom, which makes sense when we consider just how much the room is used.

The average person spends about 26 years sleeping in their life, which equates to 9,490 days. We also spend seven years trying to get to sleep, totalling 33 years or 12,045 days spent in bed!

With the pandemic forcing more of us than ever to work from home, it is no surprise that the home office follows the bedroom for the room most used within our households.

It seems we enjoy improving our culinary skills as well as our homes, with Brits spending just under 800 hours a year in the kitchen. With many people adding renovations to their New Year’s resolutions list, it is important to know which room to do first.

If you are thinking of making changes to improve the value of your property, it is best to start with the kitchen or bathroom.

When buyers view a property, nothing grabs their attention more than a stunning kitchen or a modern bathroom. These improvements don’t have to break the bank to go a long way in impressing prospective owners.

If you’re improving your house for your own purposes only, it’s best to start with the room you would notice changes in the most.

To get your home valued or browse our latest properties, or visit our website.

For Sale - Eyre Court, St Johns Wood, NW8

Offering a very well-designed living space of circa 1582 sq ft ( 146.9 sq m ) we are excited to bring to the market this beautiful apartment in one of St John’s Wood’s most highly regarded blocks.

Offering – three large bedrooms, two bathrooms and a shower room

Price: £1,950,000.00

Click here to read For Sale - Eyre Court, St Johns Wood, NW8.

To Let - Boydell Court, St Johns Wood, NW8

A superb penthouse apartment set within this gated development offering 24 hour porterage and off street parking. The apartment offers double glazed windows, air conditioning, fully fitted kitchen and wooden floors to the reception areas.

Price: £2,495 PW (£10,812.00 PCM)

Click here to read To Let - Boydell Court, St Johns Wood, NW8.