Welcome to your monthly property update!

Welcome to your monthly property update!




Home sales figures are looking strong for summer 2023

 
You are relaxing with a drink in the garden, and the summer scent of flowers and sweet grass mingles with whatever you are cooking on the barbeque. You take a long sigh and feel so happy that you have made the effort to move. Perhaps you have not experienced this feeling for a while. It could be that you are a first-time buyer and are eagerly awaiting this special and unique feeling. As the market stands, there is more than just nice weather and pretty houses to tempt you into moving.

Strong sales
With the UK housing market currently sitting at 500,000 sales, many analysts expect to see these figures rise to more than one million by the end of the year.* This is good news; it means that your home will sell quickly if you put it on the market. And is more proof that the property market is vibrant and far more resilient than the gloomy picture painted by the mainstream media.

The summer rush
Many people are hastily getting on the move in time for summer, not wanting to move during the colder months of winter. Summer is a beautiful time of year to move to your ideal home and is traditionally a busy time of year. For sale signs start appearing as quickly as summer flowers, giving you more choice. But it’s best not to wait for a sign to go up; keep in touch with your friendly agent, as homes can disappear from the market as quickly as they appear. Your agent will alert you the moment the right property for you becomes available.

Surging choice of homes
With 65% more choice in homes than this time last year.* The buying process today is far more enjoyable. You no longer have to worry about making offers over the asking price. From large and small energy-efficient homes that ooze character to new builds, and interesting period properties in a multitude of rural and urban locations, the choice on today’s market is more varied than ever. Homes across the market have undergone a massive amount of improvement during the home improvement boom of recent years. That said, there are plenty of projects waiting for you to put your mark on.

Summer is a great time of year to move
The kids are off school, the days are longer, the weather is not as harsh, and moving your belongings in more clement weather is a nicer experience. It’s also a great time to meet the new neighbours for a drink in the garden or a barbeque after you move in.

Good timing
Timing counts for a lot when it comes to selling your home, and right now the market is a hive of activity. A good agent will have their finger on the pulse and have a buyer waiting for your home to make its appearance on the market.

A vision of summer living
Bright and breezy rooms with seasonal flowers, drinks on the decking as the sun goes down, or the smell of something delicious cooking on the barbeque, or a simple, more compact space with a few candles and soft music soothing you after a hard day’s work are worth making the effort for.

Don’t waste any more time and make your move this summer?

Get in touch to see how we can help.

Zoopla*



It’s a buyer’s and a seller’s market

 
The property market always has a good deal for everyone, and right now, this has never been truer. The news tends to paint a bleak picture; however, on closer examination, it’s clear to see that the moving market is well balanced. If you are selling, buying, or both, then you are sure to find what you are looking for at the right price.

If you are selling
The property market is still benefiting from the rapid growth in prices over the past few years. With UK house prices rising on average by 3% in the year to May 2023, there is no doubt that things have returned to a healthier state.* Steady, solid growth creates confidence and stability. This means if you are selling, you are going to get a good price for your home, and if you move, you most likely have great levels of equity.

Buyer demand
Demand from buyers is up by 14% compared to 2019 and is 42% lower than a year ago.* It’s completely unfair and unrealistic to get downhearted by comparing today’s figures with those of last year. This was an exceptional year due to the hyperinflated market caused by COVID and other factors. The figure to concentrate on is that of 2019, which was a more realistic market, and with the increase in demand this year, you will sell your home quickly.

If you are buying
The property market is not exclusively a buyer’s market, as perhaps it has been in past years. But there is definitely a lot of scope for haggling, making an offer, or getting a good deal. Whatever your preferred term for saving money is, the trick is not to overdo it. You don’t want to miss out on the home you love by making too low an offer. This is where a good estate agent can help guide you through what can be a nerve-racking time.

A friendly face
Moving home is becoming more of a seamless experience. But having the right agent helps with this process. There is no substitute for a living, breathing person who spends day in and day out dealing with virtually all that is property related. Estate agents tend to know what is going on in your local market, can answer all your burning questions, put you in touch with anyone else you may need, and often have a list of buyers ready and waiting. Buying a home is an emotional experience, and when you are making big life-changing decisions, you don’t want to deal with a robot!

Beautiful buying weather
This time of year is perfect for moving. The birds are singing in the trees; it’s warm, and the prospect of being moved in time to enjoy the summer tempts many home movers into selling and buying. As a result, prices stay buoyant, and the choice of property flourishes. It’s a busy time of year, which adds vibrancy to an already good market.

Happy homes
Many homeowners keep their homes in tip-top shape during the summer. The result is that homes become happier places. Whether you are relocating to the countryside or to a new street, this time of year lends itself well to making some everlasting memories.

Browse our properties to take a glimpse inside your future happy home.

Zoopla*



Are you interested in inviting nature into your garden this summer?

 
This time of year is perfect for unwinding in the garden. So many people like to make the most of their outdoor living spaces by sharing them with their friends and family. Having a few extra guests around to make it more of a social occasion is always a good idea. But don’t forget to invite a bit of wildlife, which adds a touch of magic to your garden during these wonderful summer months.

Pick the right flowers
Flowers produce pollen for the birds, bees, and butterflies, which adds an orchestral soundtrack to your garden. Birds and butterflies are a spectacular sight to behold as you unwind in the garden with loved ones after a hard day’s work. And thanks to their hard work, the birds, butterflies and bees encourage more flowers to grow in your garden as they fulfil their role of fertilisation. Choose the flowers you love, adding the colours that make you happy, then let nature take its course.

Trees and shrubs
Whether bushes, hedges, trees, or shrubs are your thing, again, grow whatever you are most passionate about. Each will provide a great home for various forms of wildlife, from birds to insects. Growing a good amount of these things will create a better visual appeal for your garden and give the wildlife more choice when it comes to finding their nesting place of choice.

Build a pond
Building a pond can be great fun and is a relatively inexpensive way to add a whole new dimension to your garden. Buy a prefabricated pond and put it in the ground, or use a liner; either way, you are in for a little digging. All the hard work is worth it though, if you do it yourself. You will be able to sit back and drink your morning coffee while watching the birds, possibly even a toad, wash themselves before singing their morning songs. A good tip is to build a sloping side, almost like a beach, so that wildlife can get in and out of your pond. Perhaps fish are more your thing; either way, add some flowers to your pond, such as waterlilies, and watch them blossom.

Grow a meadow
Scatter flower seeds and create a meadow. Don’t worry if you don’t have the space to do this; you could grow small areas of long grass. These will also add to the visual appeal of your garden. Making it unique and different. This can encourage voles and caterpillars, and wildflowers have a unique beauty that is another feast for your eyes.

Create a rock garden
If you have areas in your garden that have poor soil quality, rock gardens are an ideal solution and don’t cost a lot to build. In fact, you may be able to build it for free. Build it next to your pond or wherever you feel it makes the biggest impact, and you will encourage pollinators and other forms of wildlife to thrive.

Added value to your home
While having more wildlife in your garden will not directly add value to your home it will enrich your garden, making it more attractive. This will add value to your home, and a well-presented garden with various features, flowers, trees, and shrubs will be far more appealing to buyers than a property with less visual appeal. Combined with the right outdoor living space; the perfect viewing point to appreciate all your hard work, you will have undoubtedly added significantly to the value of your property.

Are you looking for a home with an idyllic garden this summer?

Get in touch to see how we can help.



How to evoke emotion with your home's colour palette 

 
Perhaps you have just moved, or maybe you are thinking about moving. It could be that you are decorating a recently acquired buy-to-let property. Whatever your reason for decorating, sometimes the hardest decision to make is deciding on colour schemes. There is an eternal spectrum to choose from, and matching and creating rooms that are visually what you were hoping for is no easy task.

Did you know?
Some research suggests that we associate certain colours of inanimate objects with certain emotions. Here are a few examples: orange: happiness or energy, yellow: cheerfulness, red: love, passion, or danger and blue: relaxation, to mention but a few.

Are you selling your home or letting your home?
If you are renting out your home, neutral, warm colours are the best. That way, you can play it safe and not run the risk of decorating to your tastes and alienating potential tenants or buyers. Paler, softer colours that encourage as much light as possible will make your home appear larger. While it is tempting to opt for two-tone effects, do so in a conservative manner, if at all.

Do what makes you happy
If you are decorating for your own home, then this is a different matter. When it’s time to sell up and move, the chances are that your buyer will have their own ideas and tastes when it comes to decorating. Instead, have faith in your own tastes. Learn to trust yourself while seeking the right advice. Experiment with colours, and don’t buy until you try. Use the samples you are provided with and paint until you are happy. If you are not happy, today any colour can be matched with some clever mixing technology. So, if you can’t find the right colour, you can have it made.

Soothing spaces
Bathrooms, bedrooms, and sitting rooms are often places where feelings of tranquilly are at the top of the pecking order of desired emotions. Shades of blue and green can be useful in creating such feelings. The softer the shades, the less impact they will have. A good way to make these themes work well is by adding the right complementary furniture. In the case of a bathroom, a contrasting suit will accentuate these emotions and may distract your eye from the intensity of large painted areas. A good tip is to break up walls with mirrors, plants, pictures, shelves, or tiles to create a greater sense of serenity.

Furniture and finishing touches
A great way to add colour to create your desired mood is by not paying too much attention to the walls and focusing more on your furniture, features, and finishing touches. Gone are the days when it was all about wallpaper and paint, with furniture being a simple afterthought.

Neutral and darker colours are great for a feeling of cosiness. Then, if you want to add a dash of colour with yet more cosiness built in, use mustard shades or whatever colour you love. Neutral colours work with everything, and when you get to the end of your decorating expedition, the impact of small plants on a simple, free-standing table can be pleasantly surprising. So, when it comes to creating the perfect mood for each room in the house, start with your furniture.

Browse our properties today to find a home that matches the life you want perfectly.



Some Guys Have All the Luck27 January 2024

Endorsed by Rod Stewart’s own family, Some Guys Have All the Luck: The Rod Stewart Story is back in Chelmsford...

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What does a modern estate agent bring to the table?

 
 


There is so much more to your local estate agent than meets the eye. The skill set, depth of knowledge, and range of skills that are needed to succeed in the industry today are staggering. It’s little wonder most people still use a traditional estate agent over an online-only estate agent, and much of this is down to market knowledge and technology.

Technology
Your home will get great exposure to ready-and-waiting buyers thanks to connecting home buyers and sellers like never before. With access to databases of home movers, property listings, market analysis tools, and customer relationship management (CRM) software, your agent has the technology to sell your home quickly. Additionally, your agent may use virtual reality or 3D tours to provide immersive property viewings for remote clients. Add to this the huge social media reach, and you are on the move in no time.

Great personal service
There is no substitute for the friendly face of your local estate agent. It’s comforting to have a professional person to offer assurance and emotional support through what is an exciting time but is also a little nerve-racking. When you are moving, you have a lot of what-ifs. There is a lot to do, and having someone on the other end of the phone to guide you through all aspects of your move is very comforting.

Valuation
Valuing your home at the right level is critical in today’s complex and fluctuating market. If the asking price is too low, you could cost yourself some serious money. Too high, and your home will not sell. Potential buyers start to ask questions like; How long has the property been on the market? Your house sale becomes stale. This can lead to achieving a much lower price, as you are forced to sell at a lower price to regenerate buyer interest.

Market and area knowledge
Your local estate agent will know your local property market better than anyone else. Modern agents are made up of a talented team of people, from valuers to marketing strategists and property experts. Staying on trend with everything to do with property, they will know your local area as well as you will after living there for years.

Mortgages and other services
Modern estate agents have a broad network of contacts within the industry, from mortgage brokers and conveyancers to removal companies. Putting you in touch with a good mortgage advisor could be the difference between finding the right road to your new home and getting lost. This all makes for a seamless, less stressful move.

Marketing expertise
Gone are the days of traditional marketing methods. Modern estate agents are well-versed in digital marketing strategies, including social media, online listings, and virtual tours. They know how to present properties in the best light, creating eye-catching listings that attract potential buyers. Their marketing efforts extend beyond just listing a property; they also know how to stage homes for viewings and use professional photography to highlight your property's strengths.

Negotiation skills
Negotiating the price of your home can be a complex and emotional process. Your agent will make sure you get the best possible deal in the time frame that works for you. They act as intermediaries, helping to bridge the gap between buyers and sellers and ensuring that both parties are satisfied with the outcome. And this experience and knowledge make their fees worth every penny.

Legal compliance
It’s easy to fall down a legal pitfall when moving. This is why a modern estate agent is imperative for a smooth sale. Complex legal documents are included, from exchanging contracts to local regulations, and their expertise will save you time and money. Then you can enjoy the excitement of moving property to the fullest without any worries.

Contact us to see how we can guide you to a smooth home move



Chelmsford Half Marathon,Mar 03 2024

Chelmsford Race Weekend / CM Half is the major road closed running event in Chelmsford Essex. 

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'Mind the gap' with your helpful agent

 

As summer rapidly approaches, on the back of a more than buoyant spring, homemovers are achieving good asking prices and getting offers accepted on their new homes. House prices are firming up, instead of rapidly rising, due to sensibly paced house price inflation. This creates good buying and selling conditions; however, it’s as important as ever to price your home correctly, so you can ‘mind the gap’.

 

What does ‘mind the gap’ mean? 

‘Minding the gap’ refers to the difference between the asking price a vendor is willing to accept and the agreed selling price of a home. The good news is the gap is narrowing, with the average difference between the asking price and the agreed sale price growing smaller, with average discounts at 3.9% in March, falling from 4.5% in November 2023.* These figures are yet more proof of an improving market. In some cases, this gap may not exist and it’s also worth remembering that homes are usually priced knowing that there will be room for negotiation. 

 

The art of negotiation

When an agent places a value on your home, they will do so knowing that buyers, will more often than not, try to negotiate on price, so they will take this into account. As a seller, you want to achieve the best possible price for your home and as a buyer, you want to get a lower than asking price offer accepted. Your agent or agents, if you are selling with one and buying with another, are working in your best interests. So, when it’s time to negotiate, even though it’s completely up to you what price you want to offer or accept, listening carefully to your agent's advice is crucial. 

 

Your home and your position in the market are unique 

Your home is as unique as you are, and may achieve more than the asking price, if it gets a lot of buyer interest. This could bring about a sealed bid. Even if this does not happen, you may not have a gap between your asking price and the agreed selling price of your home. On the other hand, if a cash buyer makes an offer below your asking price, then you may decide to accept the offer so you can make your move more quickly. Setting the asking price correctly in the first place should mean you will not have to reduce your price by too much. But, that does not mean you should simply choose the agent who places the highest value on your home.


The best valuations are not always the highest 

A good agent will value your home thoroughly, which is what you want. This is because they will find the features and positives of your home, its location, and the local market, so you can achieve a good selling price. It may be tempting to choose the agent who places the highest value on your home; however, it’s not always a good idea. Overvaluing your home can lead to your sale becoming stale. Some homemovers have found that they sell with a second agent, after not selling with their first choice, because the asking price was set too high.


Know your market 

In March, the percentage of asking prices achieved in the UK stood at 96.1% and with a 9% increase in sales agreed, the market is getting stronger.** However, your local estate agent will be an expert in your local market and in advising you on how to prepare your home for sale. They will also put local market analysis and a database of buyers to good use which will help your home find the right buyer at the right price. It’s good to keep track of the market yourself, by checking out recently sold prices, and comparing the condition of other similar properties. Then you can come up with the right pricing strategy with your agent, that gets you to where you want to be, without a big gap.

 

Get in touch to get moving this summer

 

Zoopla*
hometrack**

 

 



Estate agent vs. Property auction: which property sale suits you?

 

When you're attempting to sell your home, before you even consider placing it on the market, you need to decide what your goals are. Do you want a quick sale? Or do you want a big return on investment? There are several ways you can sell your home, and they all come with different benefits, but which property sale suits you?

Different ways to sell your property

There are two main methods for placing your property on the market: selling it through an estate agent or at auction. 

Selling it through an estate agent gives you a higher chance of achieving a sale at a well-reflected price, as selling it at auction can result in a quick and simple sale, but it may also undervalue the property. The fees are slightly higher for selling your property through an auction compared to enlisting the help of an estate agent.

What are the benefits of selling by auction?

The buyer is required to pay a 10% deposit almost immediately, and the majority of properties at auction are 'chain-free', reducing the likelihood of the sale falling through.

Auctions can be a quick selling method: your home is marketed for 3–4 weeks to gain attention, and then the auction takes place, hopefully leading to a successful sale.

What are the benefits of selling with an estate agent?

Selling your home through an estate agent comes at a lower fee and a higher asking price for your home. This allows you to achieve the maximum amount of profit on your property, as they are able to pin down buyers who are willing to pay a well-reflected, reasonable price against the market.

Selling through an estate agent broadens the buyer pool, as many buyers tend to overlook auctions due to their perception of potential fixer-uppers or problematic properties.

So, which property sale suits you?

The key takeaway is that selling your property at an auction could give you a faster sale, while estate agents tend to deliver a higher selling price for a lower fee.

If you're not concerned about the time it will take for your property to sell and you're looking for the highest possible price, an estate agent is your best option. Overall, you are more likely to achieve a higher price when you sell through an estate agent.

 

Book your free, in-person accurate home valuation

 
 

 

 

 



Why 2025 could be your year?

As we step into 2025, the UK property market is showing strong signs of promise, making it an ideal time for prospective buyers, sellers, and investors to make their move. With more competitive mortgage rates, improving market conditions, and a wide selection of fabulous homes in fantastic locations, the year ahead looks set to offer solid value for money and exceptional service from property professionals. Here's why 2025 could be your year in the property market.

More competitive mortgage rates

Over the past few years, mortgage rates have been a significant concern for buyers, with economic fluctuations creating uncertainty. However, as we enter 2025, mortgage lenders are offering more competitive rates, making property purchases more affordable for first-time buyers and seasoned investors alike. With interest rates stabilising and lenders eager to attract new customers, securing a mortgage has become a more appealing prospect.

Improving market conditions

The property market is showing clear signs of recovery and resilience. After a period of volatility, stability is returning, and confidence is growing among buyers and sellers. Experts predict steady growth in property values, and many regions across the UK are experiencing renewed interest from domestic and international investors. This improved market sentiment is creating a healthier environment for transactions.

Fabulous homes in fantastic locations

From city-centre apartments to countryside retreats, the UK offers a diverse range of properties to suit every lifestyle. In 2025, developers and estate agents are focusing on delivering high-quality homes in prime locations. Whether you're searching for a family home in a top school district, a modern city apartment, or a picturesque rural escape, the choice has never been better.

Solid pricing and value for money

One of the standout factors for 2025 is the balance between property prices and the value on offer. While some areas are experiencing moderate price rises, many properties remain competitively priced, offering strong investment potential and long-term value. Buyers can expect their money to go further, with opportunities to secure properties in up-and-coming areas poised for future growth.

Excellent service from property professionals

Navigating the property market can be challenging, but in 2025, buyers and sellers will benefit from outstanding service from experienced property professionals. Estate agents, mortgage brokers, and conveyancers are more focused than ever on delivering transparent, client-focused services. With cutting-edge technology and personalised support, property professionals are making the buying and selling process smoother and more efficient.

Conclusion

Make 2025 your year with competitive mortgage rates, improving market conditions, stunning homes, value for money, and exceptional professional support, 2025 presents a unique window of opportunity for anyone looking to step into the UK property market. 

 

Don’t let the opportunities of 2025 pass you by, your dream property might be just around the corner. Book a valuation



Good news for tenants in 2025

The year 2025 is shaping up to be a positive one for tenants, with a series of policy changes, technological advancements, and market trends offering improved living conditions, enhanced affordability, and stronger tenant protections. For years, renters have faced challenges such as rising rents, lack of transparency, and limited legal protections. However, 2025 brings a wave of reforms aimed at addressing these longstanding issues.

Stabilised rental prices

One of the most significant developments is the stabilisation of rental prices in many urban centres. Governments across various regions have implemented stricter rent control policies and increased incentives for developers to build more affordable housing units. These measures have begun to ease the financial burden on tenants, offering more predictable and manageable monthly costs.

Enhanced tenant rights and protections

With the Renters' Rights Bill passing through Parliament, tenants are set to benefit from stronger legal protections. The bill introduces measures to prevent unfair evictions, regulate excessive rent hikes, and provide extended notice periods for tenants facing eviction. Additionally, renters will have improved access to legal aid and mechanisms to address landlord misconduct, ensuring fairer treatment across the rental sector.

Rise of sustainable and affordable housing

A major focus in 2025 has been on sustainable housing developments. Governments and private developers are working together to create energy-efficient rental properties, reducing utility bills for tenants and contributing to environmental sustainability. Many new rental buildings now come with smart home features designed to minimise energy waste.

Digital solutions for better transparency

Technological advancements are also benefiting tenants. Digital platforms now offer greater transparency in rental agreements, automated rent payment systems, and streamlined dispute resolution processes. Prospective renters can easily verify landlord credentials and property details through secure online platforms.

Increasing supply of homes  

In response to rising demand, governments have incentivised property developers to increase the supply of rental properties. Additionally, underutilised commercial spaces are being repurposed into residential units, further expanding housing options.

Focus on community living and amenities

Modern rental developments are placing greater emphasis on community-orientated living spaces. Amenities such as shared workspaces, fitness centres, green spaces, and recreational areas are becoming standard offerings in rental properties, enhancing tenants' overall living experience.

Support for vulnerable renters

Special programmes have been rolled out to support vulnerable groups, including low-income families, senior citizens, and individuals with disabilities. Subsidies, rental assistance programmes, and social housing initiatives are playing a critical role in preventing homelessness and housing insecurity.

Looking ahead

While challenges still exist, 2025 marks a turning point in the rental market. With a combination of policy reforms, innovative technologies, and a commitment to sustainable living, tenants can look forward to greater stability, affordability, and overall quality of life. As these changes continue to take effect, the outlook for renters appears brighter than ever before.

 

Get in touch to discuss a better way of renting



The Boxing Day Boom breaks new records

This year’s Boxing Day property market has seen an unprecedented surge, setting new records and signalling a buoyant start to the year ahead. According to Rightmove, data reveals a remarkable 26% increase in the number of new properties listed for sale compared to Boxing Day 2023.* The figures paint a clear picture of a market energised by motivated sellers and eager buyers.

Strong growth in property listings

The 26%* surge in listings highlights the growing confidence among homeowners to enter the market at this crucial time. Traditionally a quieter period, Boxing Day has become a pivotal date for sellers aiming to attract early-year buyers. This trend shows no signs of slowing, with property portals experiencing a significant uptick in online traffic.

Second steppers lead the way

Nearly half (46%)* of the new homes listed were three- and four-bedroom properties, typically favoured by ‘second steppers’ looking to upgrade. These family-oriented homes have become the cornerstone of the Boxing Day surge, offering space and flexibility for growing households. The strong demand suggests a thriving mid-market segment.

Smaller homes still in demand

First-time buyers also made their mark, with smaller homes accounting for 35%* of new listings. These properties remain highly sought-after, especially among young professionals and couples eager to secure their first step on the property ladder. Despite rising mortgage rates, affordability continues to drive interest in this category.

Luxury market sees steady movement

At the top end of the market, 18%* of listings were larger, high-end homes. While this segment remains smaller, it continues to attract discerning buyers looking for premium properties. The stability in this sector indicates enduring confidence among high-value sellers and buyers.

UK housing market boosted by stamp duty changes

The UK housing market has started 2025 with strong momentum, with house prices rising by 4.7%** year-on-year in December, signalling renewed market confidence among buyers and sellers. This positive trend comes as Stamp Duty changes, set for April 2025, add urgency to the market. From 1st April, a 2% increase will apply to the portion of a property priced between £125,001 and £250,000, while the 0% threshold for first-time buyers will drop from £425,000 to £300,000.***

Get expert guidance to make the most of your property

Navigating a fast-moving property market can be challenging, but experienced estate agents are equipped to guide buyers and sellers through every step of the process. From accurate property valuations and strategic marketing plans to negotiating the best possible deals, agents provide invaluable expertise.
 
 

Rightmove*

Nationwide**

GOV.UK***



Positive ripple effects: Why now is a good time for first time buyers?

For many, buying a first home is one of the most exciting and significant milestones in life. However, timing can play a crucial role in how smooth and affordable that process turns out to be. With 2025 set to bring key changes to the UK property market, including updates to Stamp Duty thresholds, now could be the perfect moment for first-time buyers to take action. Here’s why getting started sooner rather than later could make all the difference.

Stamp Duty changes will raise costs

From 1st April 2025, Stamp Duty thresholds for first-time buyers are set to change. Currently, first-time buyers pay no Stamp Duty on properties up to £425,000.* However, this threshold will drop to £300,000 next year.* This means those purchasing homes priced between £300,000 and £425,000 will face higher upfront costs if they miss the deadline.* Acting now gives buyers the opportunity to avoid these extra expenses and make substantial savings.

Increased market activity is driving competition

With the upcoming Stamp Duty changes, many buyers are rushing to complete their property purchases before April 2025. This increased demand means properties are being snapped up quickly, and competition in popular areas is heating up. For first-time buyers, this means acting promptly could secure a better selection of properties at more competitive prices. Waiting too long might not only mean higher taxes but also fewer options in your desired location.

Mortgage rates are showing signs of stability

After a period of fluctuating mortgage rates, the market is showing signs of stabilisation. Lenders are offering more predictable and, in some cases, lower rates, giving buyers a clearer picture of their long-term financial commitments. This is also stimulating the market in all rungs of the property ladder.

Building equity sooner rather than later

Getting on the property ladder isn’t just about securing a home – it’s also about building financial stability. Property generally appreciates in value over time, and the sooner you buy, the sooner you can start building equity. Waiting could mean missing out on potential property value growth, leaving first-time buyers playing catch-up in an increasingly competitive market.

Don’t wait for the market to change

While market predictions suggest steady growth, there’s no guarantee that conditions will remain as favourable as they are now. With rising demand, changing taxes, and mortgage rate shifts, waiting could mean higher costs and increased competition. For first-time buyers, 2024 offers a valuable window of opportunity to make their move before the April 2025 Stamp Duty changes come into effect. Acting now isn’t just about avoiding higher costs – it’s about making the most of the current market conditions to secure the best possible deal.

The Mortgage Guarantee Scheme: Supporting first-time buyers

Introduced in April 2021, the Mortgage Guarantee Scheme was designed to increase the availability of 5% deposit mortgages by offering lenders a government-backed guarantee.  Originally set to end in December 2022, the scheme was extended twice, with the latest announcement in the 2023 Autumn Statement confirming it will now run until June 2025. This extension ensures continued support for first-time buyers, making low-deposit mortgages more accessible and helping more people step onto the property ladder.

Boosting confidence across the housing market

While the Mortgage Guarantee Scheme primarily supports first-time buyers, its benefits ripple across the entire housing market. By enabling more people to buy homes with smaller deposits, the scheme stimulates activity in all price brackets, from starter homes to higher-value properties. This increased movement benefits sellers creating a healthier, more dynamic market. With the scheme extended until June 2025, buyers and sellers alike can approach their next move with greater confidence.

 

Start your home-buying journey today and take advantage of the current market conditions by booking a valuation

GOV.UK*



Ed Byrne: Tragedy Plus TimeSat, 15 Feb 2025, 19:30

Over 14s only. Content warnings: discussions of death. A max of 8 tickets per person and per household applies. Tickets in excess of 8 will be cancelled.

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