Category Selling

NOW OPEN – Taylor Hill & Bond Andover

Taylor Hill & Bond’s new branch in Andover town centre is now open for business! Occupying a prominent location directly on the high street the new branch has launched with a combination of existing Taylor Hill & Bond staff as well as exciting new hires who are ready to offer their expert help, support and guidance to local residents with their property selling and letting needs.

The Andover branch further strengthens Taylor Hill & Bond’s offering in the west and will compliment our existing branch in the market town of Romsey.

The Andover team has already secured an exciting new homes contract representing Foreman Homes the established regional developer with their new development The Nightingales which is an exclusive new development in Picket Piece, Andover – a mostly residential suburb located less than three miles east of Andover’s town centre.

Please feel free to contact the team directly on: 01264 314419.

Post Lockdown housing market demand surges…

There has been a huge surge of consumer interest in the housing market since May 13th, according to the Dataloft Demand Index.

In the week that lockdown was lifted, the Index climbed by 30%. By the end of May, it was 71% higher than a month earlier.

The Dataloft Demand Index suggests a strong start to the post-lockdown market, with agents’ sites receiving plenty of attention from prospective home movers.

The Index tracks the number of visits to agent’s local insight pages displaying the Dataloft Inform widget, making it a valuable indicator of potential demand.

Email inform@dataloft.co.uk to find out how to install the widget on your website. Read more in the blog ‘What is the Dataloft Demand Index?’ in ‘View from the loft’.

There’s no place like home on Fathers Day

Father’s Day is taking place on Sunday 21st June. Many will be looking forward to a socially distanced meet up, but with more than a quarter of young adults still living with parents, there is no need.

In the UK, 3.5 million young adults, aged between 20 and 34, live with their parents. This has increased by 46% over the last 2 decades.

More young adults live with parents as they are staying in education longer, formalising relationships and having children at older ages, and let’s not forget, the increased costs of renting or buying a home.

In the UK the average age of a first time buyer is 33 and if you choose to rent, on average 27% of income is spent on rent. Therefore, it is no surprise young adults are staying at home longer.

Lenders loosen mortgage criteria post lockdown..

  • Mortgage products are returning following a collapse in availability during lockdown. 77% of mortgage brokers expect lending to return to pre-pandemic levels within nine months.
  • The increase in mortgage products will be slow and steady, lenders are prioritising existing customers and the back log of around 350,000 sales which did not complete during lockdown.
  • An example of mortgages returning; the number of two-year fixed mortgage deals on a 90% and 95% LTV fell from 431 in March to 35 in May. At the beginning of June there were 61 products, although the growth is all in 90% products. 
  • It’s encouraging to see mortgage products return, but borrowers with a 5% deposit will find few fixed rate deals due to more cautious lenders.

Covid-19: How comfortable are vendors with physical viewings in their homes?

  • The recent Dataloft Homemover survey has bolstered reports of growing momentum in the housing market. The vast majority of vendors who were considering selling their homes before lockdown, still plan to do so.
  • So long as social distancing measures are enforced, 83% of vendors who are looking to sell their homes as soon as possible, say that they are either very or fairly comfortable with physical viewings taking place.
  • This renewed confidence in the market led to an 111% increase in sales viewings booked last week (Property Market Insights Report, Coadjute).
  • It is no surprise that those who are looking to delay their sale until next year were the most concerned with 8% insisting on digital viewings only. Source: Dataloft Homemover survey and Coadjute 
  • Check the infographics library for separate slides of each image.


Green shoots in the Housing Market…

Recent reports from the Office for National Statistics confirm that we are now starting to see some positive increases in the market.

Momentum is building across the UK housing market as spring approaches. The ONS (Office for National Statistics) report average property prices are rising in every region of the UK for the first time in nearly two years.

Property price growth is currently strongest across Yorkshire and the Humber and the East Midlands, with price growth across the capital at its strongest level since October 2017.

The Royal Institute of Chartered Surveyors (RICS) and Rightmove report there has been a notable increase in buyer demand in January with both the HMRC and Rightmove citing sales volumes are on the rise.

Both market appraisals and new instructions are on the up, according to both RICS and Rightmove although demand currently outpaces supply. Prospective vendors are well advised to contact their local agent.

Sharp increase in new buyer enquiries reported by Rightmove

  • There have been 1.3 million new buyer enquiries in the month since the election (13th December to 15th January), a 15% increase year-on-year according to Rightmove.
  • A 2.3% monthly increase in the price of properties coming to the market was also reported, the biggest monthly surge ever recorded for this time of year.
  • There certainly seems to be more optimism in the market. Provisional figures from the HMRC suggest a 6.8% year-on-year rise in sales volumes in December while house prices across the UK are rising at their strongest level in a year according to the official UK House Price Index. 
  • As a new dawn approaches with the UK set to leave the EU this Friday and a Budget planned for March 11th, will the Boris bounce keep bouncing?

Buyer boom sets scene for new house price records this spring..

We are pleased to report some very positive stats from Rightmove’s most recent House Price Index which indicates some promising potential for the Spring 2020 housing market. The price of property coming to market rises by 0.8% (+£2,589) this month, just £40 short of a new all-time high as momentum builds ahead of the spring market

Visits to Rightmove surpassed 150 million for the first time on Rightmove in January, making it the busiest month ever recorded as home-hunters looked to take advantage of a more certain political outlook.

 There were over 152 million visits to Rightmove in January, a 7% increase on January 2019. The previous record for the busiest month was last set back in May 2019.

 The top five busiest days ever on Rightmove were all between 21st and 29th January, with Wednesday 29th topping the list. There were over 5.7 million visits on that day, up 9% on the previous record set back on 24thApril 2019. 

 Time spent by home hunters on the site was up 4%, with people spending a total of 1.17 billion minutes. 

 The number of sales being agreed by agents was up 12% compared to the same month in 2019, the biggest year-on-year jump in any month since July 2017. London saw the biggest uplift, up 26% year-on-year, followed by the East of England, up 20%.

  • The price of property coming to market rises by 0.8% (+£2,589) this month, just £40 short of a new all-time high as momentum builds ahead of the spring market
  • Boom in buyer activity outstrips rise in number of new sellers, building upwards price pressure:
    • Rightmove monthly traffic up by 7.2% on prior year to new record of over 152 million visits in January, indicating strong pent-up housing demand
    • Demand already feeding through into number of sales agreed, up by 12.3% year-on-year nationally and 26.4% in London
    • New seller numbers fail to keep pace though finally starting to recover, up by 2.1% this month compared to the same period last year, which is the first year-on-year rise for 13 months

Market momentum continues to build ahead of the spring moving season, indicating that there is likely to be a series of new price records in the coming months. The average price of property coming to market rises by 0.8% (+£2,589) this month, just £40 short of a new all-time high. Upwards price pressure is being driven by a post-election release of pent-up housing demand, and while there is a long-awaited and welcome recovery in the number of new sellers coming to market, this is being out-stripped by a surge in demand from buyers.

Miles Shipside, Rightmove director and housing market analyst comments: “There is a boom in buyer activity outstripping the rise in the number of new sellers, which we expect to lead to a series of new price records starting next month. The average price of newly-marketed property is just £40 below its all-time high from June 2018, with the typically busy spring market still to come. This means that spring buyers are likely to be faced with the highest average asking prices ever seen in Britain. Buyers who had been hesitating and waiting for the greater political certainty following the election outcome may be paying a higher price, but they can now jump into the spring market with renewed confidence. After three and a half years of Brexit uncertainty, dither, and delay, many now seem to have the 2020 vision that this is the year to satisfy their pent-up housing needs.

Rightmove monthly traffic is up by 7.2% on the prior year to a new record of over 152 million visits in January, indicating strong pent-up housing demand. Momentum is still growing, with traffic in the first week of February up by 9.2% on the same week in 2019. Importantly, this increased interest in property is already feeding through into the number of sales agreed, which is up by 12.3% compared to the same period a year ago. London, an important barometer of the health of the national housing market, has sales agreed numbers up by 26.4% on 12 months ago, which was admittedly a time when buyer activity was at a low ebb. Nationally, new seller numbers are failing to keep pace with the jump in sales activity, although they are finally starting to rise, with over 110,000 properties coming to market in this reporting period (12th January to 8th February inclusive), up by 2.1% compared to the same period last year. This is the first time that we have seen a year-on-year rise in new supply for 13 months.

Shipside adds: “It’s the first time for over a year that we have seen any sign of a return of seller confidence, albeit lagging behind the surge in numbers of early-bird buyers. Owners coming to market this spring face the best selling prospects for several years, with good demand for the right properties at the right prices. However, sellers should be careful not to get carried away with their pricing, as this is still a price-sensitive market with stretched buyer affordability. Those who over-price risk missing out on the window of increased activity that could run at least until we approach the next Brexit deadline at the end of the year. Now could be an excellent time to get on the market and sell, seizing the opportunity of achieving a quick sale at a decent price.”

For home-movers funding their move with a mortgage, there are some of the lowest fixed rates ever available. Many lenders have access to cheap wholesale money and the combination of this liquidity and increased competition to lend means they are offering some very tempting fixed-rate deals to help buyers to get onto or trade up on the housing ladder.

If you are considering selling your property this year and would like some initial pricing advise and an overview of the marketing process please contact the Taylor Hill & Bond team to book a free valuation and marketing consultation now: http://www.taylorhillandbond.co.uk/book-a-free-valuation.html

The new homes market is booming..

Just over 174,000 new homes were completed across England in the year up to June 2019, up 8% year on year, and this trend continued throughout the rest of 2019 according to new data released by the Ministry of Housing Communities and Local Government.

New home completions rose over the year across all regions except London, where completions were 9% lower than the previous year. The Welsh Government report 5,800 new homes were completed across Wales over the same time period, 5.6% lower year on year.

In terms of regions, the North West witnessed the largest surge in completions, up over 4,000 year on year. However southern regions, London, the South East, South West and East of England, together accounted for over 75% of all completions.

Figures are in line with household projections, which estimate household numbers in England to increase by 159,000 per year (2016 – 2041). However, numbers remain below the mooted figure of 300,000 new homes required annually for affordability pressures to ease.

What can we expect from the government’s key housing policies?

After a night of drama Boris Johnson has returned to Number 10 with the largest Conservative majority since Margaret Thatcher in 1987.

The markets reacted positively to the news, the value of Sterling rising against both the US$ and hitting its highest level since July 2016 against the Euro. On the stock market the FTSE 100 share index rose 1.8%, while the FTSE 250, which includes more UK-focused shares rose 4%, hitting a record high.

A poll prior to the election by YouGov indicated 14% of people considered housing a ‘top three’ priority in the election, with housing considered more important than education, defence and welfare benefits.

Key Conservative housing manifesto pledges include increasing housebuilding, supporting first-time buyers and maintaining ‘Right-to-Buy’, leasehold reform and reforms to the rental market including ending no-fault evictions and the introduction of so-called ‘lifetime’ deposits. Non-UK resident purchases may now face a 3% additional taxation levy, up from the 1% mooted by Theresa May.