The latest from Royston & Lund: Property News

In this months edition, with the property market currently booming, sales and property prices are increasing with the average UK property now worth 8.6% more than this time last year.

According to a new national survey, a third of UK households are predicted to move house this year following multiple lockdowns and changing buyer priorities.

Finally, tenant demand is continuing to rise, with the number of prospective tenants registering with agents up for the third consecutive month in a row in March.

If you have any questions about your property circumstances please contact us.

Richardson Gardens, Wilford Lane, West Bridgford

A small development of only four Brand New detached properties built by Swallow Hill Homes overlooking the Nottingham Forest training ground.

We're holding an open day for the last 2 remaining homes for sale on a small development of 4 properties.

OPEN DAY Saturday 22nd February 2020 (by appointment only).

Richardson Gardens, Wilford Lane, West Bridgford

Guide Price from £500,000 to £525,000

The properties are built to a high specification over two and three floors and are offered to the market with completion on plots 3 and 4 early Autumn 2020.

Swallow Hill Homes have been creating homes since 2005 and are a local company based in Beeston who employ their own team of builders. Building 5-10 properties a year, they ensure high standards and focus on constructing good quality houses using high quality materials.

On this development they are building using Staffordshire blue bricks on the ground floor, render on the upper floors, and slate grey windows & roof tiles for a crisp modern vernacular.

Don't miss out on this rare opportunity to purchase one of these fantastic houses in such a sought after location.

For more information about this development, please contact our sales team on: 0115 981 1888 or sales@royston-lund.co.uk

Sleeping Beauty

Thursday 20th - Saturday 22nd February

Click here to read Sleeping Beauty.

Celebrating Shakespeare

Monday 24th February - Saturday 7th March

Click here to read Celebrating Shakespeare.

Rushcliffe 10k

Sunday 1st March

Click here to read Rushcliffe 10k.

Richardson Gardens, Wilford Lane, West Bridgford

We're holding an open day for the last 2 remaining homes for sale on a small development of 4 properties.

OPEN DAY Saturday 22nd February 2020 (by appointment only).

Richardson Gardens, Wilford Lane, West Bridgford

Guide Price from £500,000 to £525,000

The properties are built to a high specification over two and three floors by Swallow Hill Homes.

On this development they are building using Staffordshire blue bricks on the ground floor, render on the upper floors, and slate grey windows & roof tiles for a crisp modern vernacular.

Don't miss out on this rare opportunity to purchase one of these fantastic houses in such a sought after location.

For more information about this development, please contact our sales team on:

0115 981 1888 or sales@royston-lund.co.uk

Have you seen us on social media?

Did you know that we're always active on social media! We have a Facebook, Twitter, and Instagram accounts where we love to share our passion for property with you all!

We use our Facebook, Twitter and Instagram to share a bundle of information to support you in your property journey. You'll find:

The latest property market news
Our local insights
Event updates
Top tips
Property guidance
Coming soon spoilers
Featured properties
New listings
Properties back on the market

There's lots happening so don't miss out! To be transported to our pages please follow the links below:

Our West Bridgford Sales Department have welcomed two new experienced Sales Negotiators to the team!

Since the property market “re-opened” on the 13th May, we have witnessed the market bounce back in a way we could not have imagined. Enquiries and transaction have continued to increase as the market has continued to grow. In order to assist with the high volume of clients looking to buy and sell, we are delighted to have recently welcomed both Deborah Unwin and Kirsty Marcer to the team.

Deborah and Kirsty have been working in the property industry for many years and will bring an abundance of experience to Royston & Lund. With a combined total of almost 40 years experience between them we know that our newest team members will be fully competent in aiding you with your next property sale or purchase.

If you are considering bringing your home to market you are sure to achieve a quick sale in the current market conditions. You can contact Deborah or Kirsty on 0115 981 1888 or by emailing sales@royston-lund.co.uk

Foxfield Way, West Bridgford

2 or 3 Bedroom Semi Detached Homes

Shared Ownership £120,000

Shared Ownership option of 35% - 75%

Two or three bedroom semi detached houses developed by Linden Homes, located in West. Multiple plots are available - please call us for further information.

Click here to read Foxfield Way, West Bridgford.

Caudale Court, Gamston

2 Bedroom Apartment

Shared Ownership £80,000

Shared Ownership option 50% - 100%

A spacious two double bedroom apartment situated in the sought after Gamston development close to the centre of West Bridgford.

Click here to read Caudale Court, Gamston.

Hornbeam Close, Edwalton

3 Bedroom Terraced House

Shared Ownership £96,250

35% - 75% Shared Ownership Option Available

A three bedroom house developed by Barratt Homes and David Wilson Homes. Designed with family living in mind, providing the calm of the countryside and the bright lights of the city.

Click here to read Hornbeam Close, Edwalton.

Wenlock Drive, West Bridgford

2 Bedroom Apartment

Shared Ownership £155,000

50% Shared Ownership Option Available

A well presented two bedroom second floor leasehold apartment situated on the sought after "Square" development in the desirable suburb of West Bridgford.

Click here to read Wenlock Drive, West Bridgford.

Help to Buy scheme helps make 290,000 buyers homeowners

The Help to Buy scheme was introduced by the government with the aim of helping first-time buyers get onto the property ladder; designed mainly to overcome the barrier of people not being able to save a large enough deposit to qualify them for a mortgage loan.

Help to Buy allows buyers to purchase a new build home with just a 5% deposit, it is then topped up by the government with a 20% equity loan that is interest-free for five years.

The number of homes bought using the scheme has increased year-on-year, with over 290,000 buyers having benefitted since it first launched.

Who has benefited from Help to Buy?

First-time buyers

Benefiting the most from the government's scheme has been first-time buyers, accounting for 82% of all purchases.

The average price of a property bought using the scheme is £279,995, with a typical household income of £53,218.

From April 1st, a new scheme has been launched that is only available exclusively to first-time buyers. As a result, regional price caps will be introduced on the value of properties that are purchased using the scheme.

These caps range from £186,100 in the North East to £437,600 in the South East and £600,000 in London. Below is a full list of the regional price caps for Help to Buy.

Region	Help to Buy price cap
North East	£186,100
North West	£224,400
Yorkshire and the Humber	£228,100
East Midlands	£261,900
West Midlands	£255,600
East of England	£407,400
London	£600,000
South East	£437,600
South West	£349,000

Buyers in London

For most of the country, the equity loan is capped at 20% of the property’s value.

However, in London, buyers can apply for an equity loan worth up to 40% of their property’s value.

Homeowners

Whilst those who already own a home or have previously done so have also benefited from Help to Buy, these have only accounted for around 18% of all purchases made using the scheme, with the typical home they bought much more expensive compared to first-time buyers.

It is important to remember that the Help to Buy scheme must only be used on your main residence and cannot be used to buy a second home or a buy-to-let property.

For key information on the 2013-2021 and 2021-2023 schemes, we'd advise referring to: gov.uk/government/publications/help-to-buy-equity-loan-buyers-guide

To start your property journey with us, please contact our team today.

Residential transactions increasing month on month

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.

Thinking about investing in a buy-to-let property? All you need to know

Investing in a buy-to-let property is a dream that many of us will have at one point or another.

Property has always been a dependable investment option, with successful landlords able to set up their rentals to run like clockwork whilst benefitting from an additional source of income.

Before considering your first step, there are some key considerations to be aware of.

It won’t happen overnight

As much as we would like to say otherwise, having a buy-to-let property doesn’t just happen overnight.

Just like starting a new business venture, there are rules and regulations you need to comply with to protect yourself and your property.

Whilst some of these components can take time to understand and navigate, lettings agents like ourselves are fully equipped to guide you through all of the requirements.

Know the area you’re planning to invest in

It’s important to do your research on the area before signing on the dotted line, such as speaking to local agents about seasonal trends and rental yield opportunities.

Is it a hotspot for rental demand? Are there any attractive amenities, universities or transport links nearby that would appeal to tenants?

Ensure you can afford a buy-to-let deposit

Whilst a standard home can be secured with as little as 5% of the price of the property, a buy-to-let investment is usually much higher.

The average deposit is 25% for a buy-to-let mortgage.

It's also likely that your income will be evaluated, as you need to be earning at least £25,000 a year for most lenders.

Think about your target tenant

It’s important to put yourself in the shoes of a tenant and consider what they would want from a property.

Being a flexible landlord is key to ensure that tenants stay for longer, which is always great news for a landlord as you can minimise on void periods and secure your rental income.

When you have your buy-to-let property ready to market, it is a good idea to position your home based on the type of tenant you’re targeting, such as using the right communication methods to reach them.

For guidance on how to start your buy-to-let journey, get in touch with our experienced team.

Market boom leads to an increase in sales and higher prices

The average UK property price has risen by 8.6%, which is roughly £20,000 in the past year. This is the highest annual rate since 2014 according to the Office for National Statistics.

Over the year, house prices in England increased to £268,000 (up by 8.7%), in Wales to £180,000 (up by 8.4%) and in Scotland to £162,000 (up by 8%).

The North West was the region that saw the highest annual growth in average house prices (11.9%), while London recorded the lowest positive growth (4.6%).

The figures reported by HM Revenue & Customs show that sales in March this year more than doubled from March in 2020.

It is estimated by HMRC that 190,980 sales took place in March 2021, a 202.3% increase in transactions compared with the previous year at 94,380.

Despite the tapering of the stamp duty holiday later this summer, it has been predicted within the sector that the high demand levels we're seeing will continue to propel activity and protect property prices.

The vaccine roll out and easing of lockdown restrictions have led to dramatic changes to consumer confidence within the UK, supporting this expectation for the housing market.

If you'd like to review your options buying or selling this year, talk to us today.

A third of UK households predicted to move this year

As restrictions start to ease, almost a third of UK households are making plans to change their living arrangements, following their lockdown experiences.

According to a new national survey of around 2,000 households, 31% are planning to move house following repetitive lockdowns and remote-working experiences.

With only around 5% of households typically moving house each year, the increase is staggering.

Has lockdown got you feeling like you want a change of surroundings?

The following were the top three reasons people felt as important to them when relocating home:

- 29% good standard of living

- 26% hybrid working environment

- 23% road networks and connectivity

Hybrid working options and lifestyle changes were the two obvious key elements driving the change in buyers' and sellers' behaviour.

However, the recent stamp duty holiday and desire to take advantage of significant property price increases in 2021 has also influenced decision making.

What are you waiting for? Start your search today and take a look at our stunning range of properties below.

*Property Reporter

Tenant demand continued to rise at the start of the year

The number of prospective tenants registering with agents rose for the third consecutive month in March, as many homebuyers either chose to delay their purchase plans or decided to rent in between their next house sale and purchase.

According to the latest Private Rented Sector report, there were 84 tenants per branch in March compared to 82 in February, with the West Midlands recording the highest number of new tenants per branch, seeing an average of 157.*

At the same time, the number of properties managed per agent fell from 195 in February to 193 in March, with reduced rental stock making rental properties even more valuable.

The West Midlands had the highest number of properties managed with a figure of 260.

Mark Hayward, chief Policy Advisor at Propertymark, said: “this report demonstrates that the rental market continues to show no sign of slowing down.

“Agents have continued to support landlords and their tenants throughout the ongoing COVID-19 difficulties, and it is essential that tenancies are maintained wherever possible to ensure rent keeps flowing.”

Do you need our expert guidance managing your property investments and tenancies?

Talk to us today to learn more about our fully-managed packages for landlords.

*ARLA Propertymark