The latest from Royston & Lund: Market overview and advice

Welcome to our July Newsletter where we are sharing a property market overview and a special insight into our activity levels since lockdown. We start by welcoming two new, but highly experienced, sales negotiators to the team at our West Bridgford Branch. We've expanded our team to meet the high property demand!

Next we share some statistics for the number of sales agreed, with levels reaching pre-lockdown figures! As we navigate our way into the new societal norms to stay safe we still show our continued support to our key workers, so next we've shared a round up of schemes and discounts available to support our heroes. Finally we give an overview of the new electrical safety regulations that are now in effect. We hope you enjoy this months edition.

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

New Sales Agreed Reach Early March Levels

As the United Kingdom was plunged into lockdown, we saw property portals and online property websites reporting huge numbers of visitors and this online activity is now being translated into sales agreed. Zoopla are reporting a huge spike in sales agreed with current figures now matching those back in early March when the market was booming, showing that the property market in England is experiencing a true resurgence post-lockdown.

In the month following the reopening of the property market, up to 7th June, analysis shows that demand for housing was 54% higher than at the start of March, with new sales agreed having risen by 137% since the market reopened.
Interestingly, the higher the values of the property the greater the increase in the volume of sales agreed when compared to before the Coronavirus crisis. Home sales for properties priced £1m and above are 16% higher than three months earlier – this could be attributed to homeowners looking to trade up in terms of location or property size. The impact of the Coronavirus can be seen on the most searched terms for properties – with home offices and outdoor space now higher in buyers’ priorities.

Zoopla’s Director of Research and Insight commented:

“The rebound in housing demand over the last month is not solely explained by a return of pent-up demand.

“COVID has brought a whole new group of would-be buyers into the housing market.

“Activity has grown across all pricing levels, but the higher the value of a home, the greater the increase in supply and sales as people look to trade up.”

The analysis from Zoopla is supported by Rightmove’s recent data publication which revealed that 40,000 new sales have already been agreed since the market reopened – with the average asking price of properties up by an average of 1.9% compared to pre-lockdown.

Property expert Miles Shipside commented:

“Following the initial shock of the early reopening of the housing market, England is getting moving again with a boom in traffic on Rightmove,” said Shipside.

“There are no signs of panic selling or even a price dip. Some sellers who had agreed a sale before lockdown have been worrying that their buyer may try to re-negotiate with a reduced offer.

“On this evidence buyers may now be trying to exchange quickly, as there are signs of high pent-up demand and upwards price pressure, rather than downwards.”

What Support Is Available For Our Key Workers?

Although the nation is no longer clapping every Thursday evening for our NHS workers, that doesn’t mean the gratitude has ended. There are many ways that support for NHS staff has continued as a thank you for helping our society in these difficult times. Companies across England have advertised NHS staff schemes and discounts to make life that bit easier for our key workers, and to show that their services are very much appreciated. The offers range from food discounts to free parking and have varying access requirements. We have shared some of these NHS offers below:

Supermarket discounts
Most supermarkets are continuing to use the first opening hours of the day to dedicate to NHS and other key workers for shopping so that they can purchase everything they need. As well as priority hours, many stores are offering discounted shopping including:

Morrisons – 10% off and extra points in store. They also offer free food boxes including home delivery (value of the box is £5)

Iceland – 20% store discount

Food Warehouse – 20% discount in store

Transport offers
There are many parking and transport companies offering discounts and free services to NHS workers to support them in travelling to and from work. These include:

NCP – free parking

NHS Trust Parking – free parking

Your Parking Space – free parking

Uber – 25% off all rides

Motorpoint - £300 off all vehicles and free home delivery

Food offers
Many food outlets are giving NHS staff a discount on food purchases. Details of how to claim the discount vary from using a special key worker code, to providing an NHS email address or identification card. The food outlets supporting NHS staff include physical stores as well as take away and delivery services. We have listed a selection of participating companies below:

LEON – 50% off

YO Sushi – 50% off

Hotel Chocolat – 50% off

LAS Iguanas – 50% food

Deliveroo – Deliveroo has delivered 100,000 free meals throughout June and is offering 70,000 £10 discount vouchers to NHS staff who have previously used the service.

We would personally like to thank all of the key workers that have worked tirelessly to help others during such a difficult time. The gratitude is never ending. If you are an NHS worker, please see the company websites for full details of support available to you.

Electrical Safety Regulations Overview

As a landlord, it is important to keep up with the latest legislation in order to keep your tenants and yourself secure. The latest change to keep abreast of is the government’s new electrical safety regulations – specifically for electrical installations in your properties. Fall foul of these rules, and you could be facing financial penalties of up to £30,000.

In recent years we have seen somewhat of a reform to the rental sector with seismic changes including the Tenant Fees Act, Fitness For Human Habitation Act and a potential review of Section 21 evictions. The new Electrical Safety Standards regulations will apply to all new tenancies from July 1 2020 and for existing tenancies from April 1 2021.

One of the key features of the legislation is electrical inspections, with landlords having to ensure that all electrical installations in their property are inspected and tested by an appropriately qualified electrician at least every five years. Documentation around these inspections then need to be shared with new, existing and prospective tenants as a legal requirement. Should the local authority request the paperwork, a landlord is also then required to supply this within 7 days of receiving the request.

Here is an overview of the changes;

• A landlord is required to obtain an inspection and test report from a qualified person, supply that report to each tenant within 28 days, and to the local housing authority within seven days of a request. A copy must be retained until the next inspection is due.

• For new tenancies, the landlord must supply a copy of the last report to any new tenant before occupation, or any prospective tenant within 28 days of a request.

• If the report requires further investigative or remedial work, this must be carried out within 28 days or sooner if the report suggests. Written confirmation of the work being carried out by a qualified person must then be given to the tenant and the local authority.

• If a landlord is in breach of the regulations, the local authority can serve remedial notices, if necessary, carry out the required works themselves recovering their costs from the landlord and can impose financial penalties of up to £30,000.

If you would like to read the full guide for landlords published by the government, you can do so here or if you would like to talk to us about your rental properties, please do not hesitate to contact us and we will be able to advise you.