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Many people believe that spring is the best time to sell a house, with buyers wanting to be moved in ready for summer, viewings able to take place later in the day thanks to the lighter evenings, and spring traditionally being a time for new beginnings. However, there are plenty of reasons why September is actually a better time to sell, with leading property website Rightmove even confirming an increase in traffic numbers to their website in their most recent figures. If you’re thinking of selling your property in South East London and North Kent, here are a few reasons why September is a great time to sell: Motivated Buyers Buyers who start looking for a home in September are generally planning to be moved in by Christmas, particularly if they’re looking to host family and friends in their new home. As a result, they see December as a self-imposed deadline, which can encourage them to make an offer quickly and also do their best to speed up the buying process. The School Holidays Are Over Summer is usually seen as the worst time to sell, especially if your home is ideal for a family. With the kids off school, and many families going away on holiday, most parents don’t have the time or energy to be looking at properties during July and August. However, once September comes around again, it can be much easier for buyers to fit the time in for viewings. It’s also better for sellers too, as it’s easier to keep the house clean and have viewings during the day with the kids back at school. School Admission Deadlines As parents will know, school admission deadlines fall in late January, or early February. Therefore, families looking to move into the catchment area for a particular school will need to be moved in by this point, making September an ideal month to start looking for a new home. You Can Highlight Your Home’s Features With the Winter months approaching, gardens become less of a focus for buyers, as they’re more interested in a cosy home where they can stay warm. This gives sellers a great chance to highlight the interior features that make their home ideal for the colder months, such as a fireplace or a wood-burning stove. And having it lit for the estate agent’s photos can really make a difference to buyers. You Can Show Off The Views If your home has great views that are obscured by fully blossomed trees in the spring and summer months then September can be a great time to highlight its full views to buyers. With autumn fast approaching and the leaves starting to fall, it may be the ideal time for buyers to see the views at their best, and it can even allow more light into the house and garden. You’re More Likely To Get The Full Asking Price Research shows that September is a strong month for buyers, with property searches very high, compared to November and December for example. This means more potential buyers for your property, which in turn means more competition among buyers. When you consider the fact that there are more motivated buyers too, it can create a perfect storm for sellers. It’s also worth noting that if you list your house during a quieter month it might stay on sale for longer. This may lead to buyers questioning why, and perhaps going in with a lower offer than they’d otherwise be making. Are There Other Good Months To Sell? March is still considered by many people to be the best time to sell. Houses that come on to the market during that month tend to sell quickest on average, and there are several reasons why it’s considered to be a good month. The weather’s getting milder, which encourages buyers to go and view houses Gardens are coming into bloom The evenings are starting to get lighter, so buyers can see a house in its best light There’s usually plenty of buyers in the market for a new home Kids are still in school, so busy parents have more time to view properties However, it’s worth remembering that different times of the year can appeal to different buyers. For example, September is still seen as a good month for buyers with children, due to the school admissions deadline and wanting the family to be in their new home for Christmas. On the flip side, first-time buyers and young couples may wait until the new year to start looking, with the aim of being in their new home in time for the summer, when they can host friends and family into the evening, with no kids to think about! Thinking of selling in September? James Gorey Estate Agents are your local property experts for the South East London and North Kent area. Call us on 020 3633 9866 or email info@jamesgorey.com to book a free valuation.

The UK’s property boom appears to be coming to an end following the winding down of the stamp duty holiday, and the number of properties currently up for sale has fallen to a new low. UK House Sales Fall Dramatically In July The figures are now in and house sales tumbled by a whopping 62% in July, as thousands of buyers rushed to complete their purchases before the stamp duty holiday ended on 30th June. A record 213,370 homes were sold in June, compared with 82,110 in July, as buyers looked to take advantage of a potential £15,000 saving. Although the stamp duty holiday remains in place until the end of September, the threshold has been lowered significantly, with a maximum saving of £2,500 now available to buyers. The scheme was introduced by Chancellor Rishi Sunak to stimulate the housing market at the height of the Coronavirus pandemic, and it’s been largely hailed as a success, with some areas of the country seeing record price rises as demand for new homes soared. Demand for new houses is predicted to remain strong, however, the picture will become clearer over the last few months of the year, with the stamp duty holiday and the furlough scheme for employees coming to a close at the end of September. Housing Shortage Creating a Seller’s Market The number of homes on the market has fallen to its lowest level in more than 6 years, and property experts are forecasting that this will remain the case well into the new year. The stamp duty holiday led to 1 in 20 homes changing hands over the past year, and the number of buyers continues to far outweigh the number of homes for sale. This is particularly good news for sellers, with the buying frenzy leading to bidding wars between buyers, especially on 3 and 4 bedroom family homes, as the shift in working patterns over the past 18 months has led to buyers looking for more space. Stamp Duty Holiday ‘Wasteful’ According To Think Tank While the Chancellor’s stamp duty holiday has largely been heralded as a success that has kept the housing market afloat, a leading think tank has concluded that it’s actually been ‘wasteful’ by the government. The report published by the Resolution Foundation claims that buyer demand, and not the stamp duty holiday has been the driving force behind the surge in house prices this year, fuelled by low interest rates and a shift in circumstances, with many buyers now working from home regularly, and looking for houses with more space. The report goes on to say that the government’s stamp duty holiday has in fact cost them around £4.4bn in lost taxes, and has therefore been ‘wasteful’, given that they believe price rises would have occurred anyway due to increased buyer demand. Winchester Least Affordable UK City To Buy a Home A report by Halifax has revealed that Winchester is now the UK’s least affordable city for buyers, overtaking Oxford in the annual survey. Homes in the Hampshire commuter city cost 14 times the average earnings for buyers, with the average asking price for a house currently standing at £630,000. Oxford isn’t too far behind in the affordability stakes. While the average asking price is lower at £487,000, average earnings are also lower, meaning that houses cost 12.4 times the average earnings for buyers. Londonderry in Northern Ireland is the most affordable city for a third consecutive year, with homes costing 4.7 times the average earnings for buyers. What You Can Buy For The Average Asking Price In Every Region A recent study by leading property website Rightmove has revealed what buyers can get for the average asking price in each region. The national average is currently £337,371, with London unsurprisingly being the highest-priced region. In fact, the difference between the capital and the lowest price region – the North East, is an enormous £470,000. The average asking price in the capital is currently £635,000, which according to the report, will get you a three-bedroom Edwardian terraced house in West Ealing. Meanwhile, for the North East’s average asking price of £165,000, you can purchase a modern, three-bedroom semi-detached house in Sunderland. The largest house relative to its asking price is in Yorkshire, where a five-bedroom, three-storey end-of-terrace cottage in Huddersfield can be snapped up for just over £210,000. For more property news and updates and a more detailed overview of the South East London and North Kent area, get in touch with James Gorey Estate Agents. We are your local property experts. Call us on 020 3633 9866 or email info@jamesgorey.com.

There are many costs associated with selling a home. From estate agent fees to legal charges, to the costs associated with actually moving. Preparing Your South East London and North Kent Home for Sale Many sellers find that giving their home a refresh before placing it on the market is the best way to entice the broadest range of potential buyers. This might include: Repainting walls Hiring professional cleaners Paying for a storage unit to hide away excess furniture and personal items If you hire professionals for these jobs, then costs will be incurred. Getting an Energy Performance Certificate An Energy Performance Certificate (EPC) is a document that outlines how energy-efficient your home is. Every home needs a valid EPC before it can be advertised for sale, and it is the seller’s responsibility to ensure it is in place. The certificate will grade your home on a scale of A-G. Those sitting at the bottom of the chart may be less attractive to potential buyers, as it indicates that the costs of running the home will be substantially more. These certificates can be obtained from any accredited company. However, there is no uniform fee. The price will vary depending on the location and size of your home but usually start around £90. It should be noted that an EPC is valid for ten years, so it may be the case your property already has a valid document. Mortgage Charges You may incur a mortgage exit fee when selling your home. A mortgage exit fee is a charge that your lender may issue when you close your mortgage account down. This can range anywhere between £25 and £300. However, be sure to check your original mortgage document, as not every lender demands this payment. Alternatively, some homeowners choose to ‘port’ their mortgage. ‘Porting’ is the process of transferring the mortgage over to the new property, removing the need to exit the mortgage and apply for another. This forms the ideal situation for many, as it can potentially save thousands of pounds. However, the mortgage will need to be reassessed as the charge will now be held against a completely different home. The lender will examine the circumstances and, where appropriate, will simply transfer the debt from one home to the next. However, it is always best to investigate current deals and offers, as it may be more financially savvy to move to a different lender rather than ‘port’ an existing loan. Estate Agent Costs Working with a good estate agent in South East London and North Kent is crucial when selling your home. Agents will deal with the process of advertising your home and conducting viewings on the property. They can also assist with the negotiation process, which will help increase the speed at which you have a legitimate offer in place. Understandably, the fees that estate agents charge vary dramatically and the fee will also depend on the location and of course the service that the agency provides. Most agents work on a ‘no sale, no fee’ basis. Meaning, if your home does not sell, you will have nothing to pay. The fee generally ranges between 0.75% and 3% + VAT of the total sale price. For less expensive properties, agents may instead work on a fixed charge basis. Online agents tend to request much lower and often fixed rates. However, the service they offer is usually very different to what you can expect from the more experienced local businesses. Legal Fees Conveyancing is the legal process of transferring the home from one owner to the next. Once you have accepted an offer on your home, you will instruct a conveyancing solicitor to deal with this process. Conveyancing fees can vary depending on the property you are selling, but average between £750 – £1500. The charge is commonly paid on the day that the sale completes. Removal Expenses Of course, there are many logistical costs associated with the process of moving. These might include hiring a van or a whole removal team, depending on your family’s needs. Should you suffer from an interim period between completing the sale of one property and your next purchase, you may also incur storage costs. Many also choose to insure their valuables for this period, ensuring anything broken in transit can be replaced. James Gorey Estate Agents are your local property experts for the South East London and North Kent area. We can advise you on all aspects of your home move. Call us on 020 3633 9866 or email info@jamesgorey.com to chat with a member of our friendly and experienced team.

As a landlord, you want stability, and you want to be confident in the knowledge that good tenants are going to stay and the rent will continue coming in. Here, we look at how landlords can keep their tenants happy – and why it is so important. Happy tenants = happy landlord There are many reasons people become landlords. They might have some money to invest perhaps, or they might have inherited a property. What’s true of every landlord though is that they want stability. They want to know that their investment is safe and that a paying tenant is staying put. That’s what being a happy landlord is about. If a tenant wants to move out, it causes hassle for the landlord. They have to find a new tenant. They have to get updated safety checks carried out. Maintenance costs or cleaning costs may come in. Time is needed to check on properties. That’s why being a happy landlord is important, and it’s why keeping a tenant happy is crucial. What’s a happy tenant? That’s a good question. A happy tenant is someone who will want to stay in the rented accommodation long-term. But tenants are all different, and so what makes one happy may not make another happy. As a landlord – all you can do is your utmost to ensure a good relationship between you and your tenant. Here’s how to keep your tenant happy! Be responsive If a tenant has a problem, and they let you know about it, respond. Not just to their message, but to the actual issue itself. If you say you’ll get round to a problem within a set time, ensure that you do. Solve the problem. In doing so you’ll also be looking after your investment by sorting issues out before they become big problems. Be flexible Things happen. So if a tenant comes to you and says they have a problem, perhaps with rent payments, be prepared to be flexible. Work out a solution that means payment is perhaps deferred or delayed. Create a payment plan. Offer a short rental holiday. Agree timescales and get everything in writing. Be respectful There are rules for landlords when it comes to visiting properties and checking up on things. But, we say as a general rule, a tenant’s house is their home and you should treat it as such. You should not simply arrive unannounced. Your tenants want to get on with living their own lives with privacy and don’t want to worry about their landlord checking up on them all the time. Be truthful The tenancy agreement should be clear, particularly about rights and responsibilities. This sets things out on the right footing should anything happen during the tenancy. If a tenant is unsure about the future of the property they live in, they may be nervous. Don’t go idly talking about selling up or increasing the rent, even if you are considering it. Be truthful about things. Be friendly We’re not talking about popping in for cups of tea or going out for a beer. But, check in on your tenant sporadically (and by appointment) to make sure all is OK. If you know someone has an issue of some kind, ask if they are all right. If a tenant thinks you are looking out for them, they are more likely to be happy, look after the property, and importantly stay – keeping you happy. These are just a few pointers for you. We work with a number of landlords in the South East London and North Kent area and we will be more than happy to share our thoughts with you. Call us on 020 3633 9866 or email info@jamesgorey.com.

The South East London and North Kent property market is continuing to enjoy a boom, with prices also reaching record highs nationwide. With demand far outweighing supply, many buyers are increasingly paying more to secure their dream properties. Read on to find out more, with some of July’s key headlines across the UK property market: UK Prices Reach Record High In Buying Frenzy The average asking price of a UK home has reached a new high according to the property website Rightmove. Figures that are due to be released shortly will show a new peak, surpassing the previous record that was set back in May. Rightmove also confirmed that the first six months of 2021 have been their busiest since 2000 as buyers rushed to complete their purchases before the phasing out of the stamp duty holiday. The pricing boom has partly been caused by a shortfall in properties on the market. Rightmove confirmed that 140,000 more sales were agreed in the first half of the year than the long term average, however, there were 85,000 fewer new listings, leading to a shortfall of 225,000 properties, which has put sellers in the driving seat when it comes to negotiating as demand for properties continues to outweigh supply. Stamp Duty Holiday Winds Down The government’s stamp duty holiday is now winding down. The scheme, which was introduced to stimulate the housing market during the Coronavirus pandemic has been an overwhelming success, with savings of up to £15,000 for some buyers. That saving has now ended, however, buyers can still save up to £2,500 on stamp duty if they complete before the 30th September. And the housing market is expected to remain strong, despite the ending of the stamp duty holiday. Biggest Rent Rises In Coastal And Commuter Towns Property website Rightmove has announced the towns and cities with the highest rent increases in the past year with coastal and commuter towns seeing the biggest jump. Rochdale, Farnham and Folkestone have all seen average rents increase by more than 25% as tenants look for more space away from the major cities. However, the recent easing of Covid restrictions has also seen some of the UK’s major cities begin to make a comeback, with renters looking to move back to city life. Prices have risen 6.8% in Nottingham, and 3.8% in Liverpool compared to a year ago, however, in London and Edinburgh, rents are still lower than 12 months ago, at 6.8% and 4% respectively. Self-Employed and Furloughed Workers Refused Mortgages Over Covid Grants Self-employed people who have received government grants during the pandemic are being refused mortgages by many high street banks. NatWest and the Royal Bank of Scotland have confirmed they’re not accepting applications from anyone who applied for a self-employment income support grant after 14th July 2020, while employed people who have been on furlough are also not having their applications accepted by many major lenders. Self-employed workers are also being asked to come up with a higher deposit by some of the major high street banks. Metro Bank has confirmed that a deposit of at least 20% is required, while Santander wants a minimum of 25% before lending to self-employed workers. It’s not all doom and gloom though as interest rates remain low! The North West Continues To Lead The Housing Boom Prices in the North West of England have risen by more than 15% over the past year, making it the area that’s seen the biggest increase across the UK. Wales and Scotland aren’t far behind, having seen 10%+ increases too, but London has seen the smallest rise in prices, at an average of 5.2%, as buyers have increasingly looked to move away from the city to find more affordable properties with additional space. Some Homebuyers Still Face Lengthy Search Delays Homebuyers in some areas are still facing lengthy delays for council land searches. Increased demand has left some buyers facing an average wait time of 55 days for searches to be completed when the target is 10 days. Conveyancers and local councils are playing catch-up after the stamp duty holiday rush. If you are considering buying or selling, James Gorey Estate Agents are your local property experts for the South East London and North Kent area. Call us on 020 3633 9866 or email info@jamesgorey.com to chat with a member of our friendly and experienced team.