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House price growth is finally starting to slow down, with some property experts predicting a crash this year. In other news, a shift in renters’ demands has been revealed by one leading property website, and fans of a popular TV series can get their hands on one of the houses used in filming. Read on for all this and more in our May property market update. UK House Price Growth Set to Slow  Average UK property prices reached record highs in April, but the growth is set to slow down, according to one mortgage provider. Major lender Halifax revealed that prices rose 1.1% in April compared with March, which was the 10th consecutive month of growing prices. However, with the cost of living on the rise, along with an increase in interest rates, the lender is predicting a more significant slowdown in prices over the coming months, while some speculators are even predicting a property crash by the end of 2022. Demand for properties continues to outstrip supply, which is keeping the market buoyant for now, but with household budgets being squeezed and variable mortgages affected by the Bank of England’s highest interest rates for 13 years, it’s likely that a slowdown is on the way. Homeowners in parts of London are already noticing the difference, with average prices falling in 15 of the capital’s boroughs between February and March. Renters Seeking More For Their Money  According to property portal, Rightmove, demand for rental properties with bills included has seen a significant jump in the past 12 months. The website has reported a 36% increase in enquiries from tenants for homes where the rent includes utilities, as energy costs continue to soar. It’s also been revealed that the average monthly rental cost across the UK (excluding London) has hit £1,000, which signals an 11% annual increase. Meanwhile, in the capital, the figure is just under £2,200 per month, which is a 14% increase from 12 months ago. The startling figures reflect the competitive rental market at present, with Rightmove revealing that enquiries for rental properties are three times higher than the number of properties available. The Rise of the £500k Property Market For the first time in history, 15% of the UK is now made up of areas where average property prices exceed £500,000. The data revealed by one leading estate agent shows that between 2019 and 2021, the number of electoral wards that fall into this bracket jumped 50%, from 874 to 1,312. The most significant jump has occurred in the South West, where half-a-million-pound property sales have increased 167%, fuelled mainly by the race for space caused by the pandemic. Unsurprisingly, 63% of London’s electoral wards fall into the £500k bracket, with a number of others falling just short. Will the Housing Market Crash This Year? Property professionals are split as to whether there’ll be an impending crash this year, with one expert advising would-be buyers to ‘under no circumstances’, take out a large mortgage. Former government adviser, Paul Cheshire, is predicting a nationwide price drop of at least 10%, with rising inflation and falling incomes leading to a perfect storm for the housing market. And with interest rates forecast to continue increasing, it could lead to mortgages becoming unaffordable for many buyers. The flip side of the argument is that buyer demand currently remains strong. Put simply, there are more buyers than properties available, which continues to be good news for sellers. Couple this with an increase in homeowners switching to fixed-rate mortgages, plus the fact that mortgage rates are still low by historical standards, and there’s every reason to be optimistic. One thing that most experts agree on is the likelihood of a fall in prices in the coming months, but the chances of a full-on meltdown may be slimmer than many of the doom-mongers believe.

The housing boom is showing no signs of slowing down, while an ONS report has revealed the number one factor when it comes to property prices and the staggering rise in prices since the pandemic started. Read on to find out more, plus the latest news on rising rental costs. Demand for property continues to outstrip supply Despite several increases in interest rates in recent months, along with a sharp rise in the cost of living, demand for residential property continues to remain extremely high, with no immediate signs of a slowdown any time soon. While Spring is traditionally the hottest time of year for the property market, there’s been no significant surge in demand so far, as the market has remained at a particularly high level. Such demand has continued to push prices up, with Halifax reporting an average price rise of more than £28,000 in the past year, which is roughly equivalent to the average annual salary of a typical UK worker. Many experts are predicting a slowdown in the coming months as the soaring cost of living begins to bite, but if the first quarter of 2022 is anything to go by, it won’t be a sudden drop in demand or prices. Key factor which drives house prices revealed A report released by the Office for National Statistics (ONS) has revealed the most important factors which drive house prices in towns across England and Wales. Perhaps unsurprisingly, top of the list is a town’s proximity to London, or more importantly, how commutable to the capital the town is. Second and third place by some margins was the availability of local jobs, while the fourth spot was the level of income deprivation in a town. The distance to London as the key factor isn’t a huge surprise, given that towns within easy reach of the capital have always had a premium attached to them, however, given the events of the past two years and the significant increase in remote working, it’s surprising just how important this factor still is. For context, the report showed that the London factor was more than twice as important as the availability of local jobs, and around 10 times more important than the level of income deprivation. The study also showed that for every 30 miles a town is from the capital, there was a £50,000 reduction in property price, although, after 125 miles, this figure becomes irrelevant, perhaps suggesting the maximum distance commuters are willing to travel. Two-year house price rises revealed One major lender has revealed the increase in property prices across the past two years, and the figures make for startling reading. According to Halifax, the average property price in the UK has increased by £43,577 since the start of the first lockdown in March 2020. This represents an 18.2% rise, which has taken the cost of a typical home to more than £282,000, with house prices increasing at nearly twice the rate of flats for the period. The lender’s stats show that the price of a detached house has risen by around 21%, with flats increasing by 11%, as the demand for more space has become apparent since lockdowns were first introduced due to the pandemic. Rents reach record highs Data revealed by the property portal, Rightmove, has revealed record high rental costs for tenants outside London. National rents outside the capital have reached an eye-watering £1,088 per month on average as demand has continued to far outweigh supply. Annual rental growth reached 11% over the past year – the first time on record that rents outside London have exceeded 10%. With rental demand up by 6% and the number of rental properties available being 50% lower than at the same point 12 months ago, the rental market is the most competitive it’s ever been. In other news… Possibly the UK’s smallest detached house has gone on sale on the grounds of Grimston Park, Tadcaster in North Yorkshire. From street level, the tiny Georgian gatehouse appears tiny, with the space above ground measuring just a little over 10sq ft. However, scratch beneath the surface and you’ll find a more spacious, 306sq ft living area lurking in the basement. The one-bedroom, Grade II listed property is for sale for £215,000. 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.

Interest rates have increased again, the government’s Homes for Ukraine scheme has launched, and one major lender has reported record annual price rises. Read on for all this and more in our March property market update. With the clocks going forward at the end of the month, lighter evenings and Easter just around the corner, the traditional Springtime boom could also be on its way! And none too soon as there is still a desperate shortage of housing stock. Here are some of our predictions for what to expect next month… Now is the time to sell Figures recently released by leading property portal Rightmove have revealed that the UK’s average property price saw its most significant month-on-month increase for 20 years between January and February this year. According to their stats, the average asking price of a property rose by £7,785 in the first two months of the year, as sellers have increasingly been taking advantage of a shortage of homes for sale. The figures have also revealed the startling increase in house prices since the start of the pandemic, with average asking prices having risen nearly £40,000 in the past two years, compared with a rise of around £9,000 in the two years prior. For homeowners who have been considering selling their property, now is a great time to bite the bullet. Spring is traditionally the best time to list, with the most active buyers on the market, and with COVID-19 restrictions now lifted and house prices expected to cool off over the next few months, it could be the last opportunity to take advantage of increased asking prices. Nationwide reports record cash rise The UK’s biggest building society, and one of its biggest lenders, has reported a record rise in the cost of a UK home. According to figures released by Nationwide, the cost of a typical home rose by £29,162 in the past year – the biggest cash increase in property prices since they started collecting comparable data in 1991. This means the average asking price across the UK reached £260,230 in February, with the increased cost of living appearing to have little effect on house prices. The findings are bad news for first-time buyers struggling to get onto the property ladder, although with many property experts forecasting a slowdown in house prices in the coming months, there may be some respite for those looking to take their first steps. Buy-to-let mortgages becoming more appealing for investors Research from Mortgage Broker Tools has shown that affordability for buy-to-let mortgages is at its highest point since they started collecting data. According to their figures, average maximum loan sizes have increased by 13% in the past year, with the average currently being a little over £421,000, which represents a £20,000 increase in the past two months. And in further good news for potential landlords, figures released by Moneyfacts show that there are currently 2,235 mortgage products available to first-time investors – a considerable increase on the 1,311 products available at the same point 12 months ago. Government launches Homes for Ukraine scheme In response to the war in Ukraine, the UK government has launched the Homes for Ukraine scheme, which asks people who can, to offer a room to refugees fleeing the conflict. You’ll need to confirm that your home is available for at least six months, and you’ll be entitled to a monthly payment of £350 for up to 12 months, although you won’t be expected to cover the cost of food and living expenses. To register your interest in the scheme, just visit the government website. Interest rates rise again The Bank of England has increased interest rates for the third time in four months to try and lessen the effects of the continued cost of living increases. The rise will directly impact around two million homeowners who have either a variable or a tracker mortgage, as they’ll see their monthly repayments increase again. For homeowners with a £200,000 mortgage, this will mean around a £42 increase to their monthly repayments. And Finally… Homes for under £10k While asking prices may have hit record highs and youngsters feel increasingly uncertain they’ll be able to get onto the property ladder, it’s certainly not all doom and gloom for would-be buyers. A recent post by major property portal Zoopla has revealed a list of 14 properties for sale for £10,000 or less. While some will need extensive work doing to them, and some will fetch higher at auction, it does show that there are still bargains to be had despite the significant increases in prices over the past couple of years! 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.

Interest rates have increased again for the second time in quick succession, and a quiet Wiltshire town has leapt up the property hotspot list! In good news for tenants, the government has announced new reforms to protect renters. Read on for all this and more. What can sellers entering the market in March 2022 expect? With all COVID-19 restrictions being lifted by the end of March (if not sooner), and spring just around the corner – which is traditionally a hot time of year for the property market – here are some of our predictions for what to expect next month… House price growth set to slow After a strong start to the year, house prices are forecast to stabilise over the coming months. The UK’s biggest building society, Nationwide, reported a sixth consecutive monthly increase in January, with prices rising 0.8% on the previous month and 11.2% annually. Competitor Halifax also announced increases of 0.3% from the previous month and 9.7% annually. However, despite these consistent increases over the past 12 months, both lenders have predicted a cooling of the housing market in 2022, with the cost of living increases and limited supplies of new housing stock coming onto the market being cited as major factors. Movers and Shakers Corsham named as a top property hotspot The picturesque country market town of Corsham in Wiltshire has been named as the UK’s newest property hotspot. The town might not be instantly familiar by name, but TV fans will recognise it, as it’s appeared in numerous period dramas, from Poldark to Lark Rise to Candleford and Tess of the D’Urbervilles. And with demand for more open spaces and work from home offices remaining strong, the town on the edge of the Cotswolds is seeing a big increase in buyer activity. Figures released by major property portal Rightmove show an increase in buyer demand of 124% compared with 12 months ago. Average prices have inevitably increased too, with a jump of 6% year on year. The majority of buyers are Londoners seeking more bang for their buck, and with average prices in the town of a little under £330,000, it’s no surprise that it’s attracting many out-of-towners. First-Time Buyer News Affordability issues reach record highs One of the UK’s biggest lenders, Nationwide, has announced some startling figures which affect first-time buyers’ affordability. While it’s widely known that house price growth has outgrown wage growth, the building society has laid bare just how much price increases have outpaced wages since the pandemic began. Their figures reveal that a 10% deposit on a first home is now equivalent to 56% of total gross annual earnings, which is a new record high. Buy-to-Let News Section 21 to be abolished In a move that will protect renters, the Government has announced plans to abolish Section 21, which allows landlords to evict tenants without any reason. The plans are part of the Government’s Levelling Up White Paper, which is aiming to help poorer communities become more prosperous. Other changes that are planned include ensuring that privately rented properties meet minimum standards, and the introduction of a landlords register, with an aim to crack down on rogue landlords. Latest news for Landlords Almost 1/3 of tenants admit to keeping hidden pets! A recent survey has found that 27% of tenants have admitted to hiding pets from oblivious landlords for more than three years. The most commonly hidden pets are birds and rabbits, while somewhat surprisingly, horses are in third place! We’re not sure entirely how you hide a horse – suggestions on a postcard, please! The number one way to avoid landlords discovering pets during an inspection was to take them out for a walk, which was followed closely by asking friends to look after them, and then asking a neighbour to keep hold of them during inspections. The study also revealed that the most pet-friendly landlords are in Norwich, with the least friendly being in Edinburgh. Mortgage News Interest rate increase for the second time in three months The Bank of England has announced an increase in its base interest rate from 0.25% to 0.5% – the second increase in just three months. The increase will mean a rise in monthly mortgage repayments for around two million homeowners with variable-rate mortgages and will add around £24 per month to a £200,000 mortgage. The rise comes hot on the heels of Ofgem’s announcement that energy bills will increase by 54% this year, as millions of households face a squeeze on the cost of living. And Finally… A home with a rather unusual feature in the front garden made headlines on social media recently. The 2-bedroom bungalow in leafy Nursling, Hampshire, has a spacious back garden with views across lush green fields, but it’s the enormous telephone pylon in the front garden that really caused it to go viral. You can check it out here, but hurry – the property’s already sold, subject to contract. 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 find out how we can help you buy a new home or sell your property.

The housing market is expected to stabilise this year, after a rollercoaster year. 2021 was also a good year for first-time buyers, with record numbers taking their first steps onto the property ladder, and we will reveal the area which saw the highest price rises. These are just some of the headlines in January’s UK property market update. Read on to find out more. Property Boom Set To End In 2022? Various lenders are forecasting a slow down in property prices this year, following the record rises we saw in 2021. The government’s stamp duty holiday helped to drive record house prices last year, with both Halifax and Nationwide reporting an average price rise of £24,000 on properties in 2021. According to Halifax, it was the ‘biggest annual increase since 2003’, while Nationwide is reporting the ‘biggest annual increase since 2006’. Both have reported different average prices too, with Halifax reporting average prices of £276,000 by the end of the year, and Nationwide reporting average prices of a little under £255,000. Although the figures vary somewhat, one thing for certain is that 2021 was a particularly hot market, and prices in 2022 are forecast to rise at a more steady rate. First-Time Buyers Boost Property Market A surge in first-time buyers was one of the big drivers behind property price increases in 2021, according to one major lender. Halifax reported a 35% increase in first-time buyers last year, compared with 2020, seeing more than 400,000 people taking their first steps onto the property ladder. While the stamp duty holiday had very little direct impact on first-time buyers, it did open the market up to them, as many of the properties on the market were previous first-time homes that sellers were upsizing from due to a requirement for more space. This was also related to the need for many to work from home. UK’s Highest Rising Region Revealed Figures released by the Office for National Statistics (ONS) have revealed that the South West of England saw the fastest rise in house prices in 2021. According to their stats, prices rose by 12.9% over the year, leading one council leader to declare a housing crisis in Devon. The rise in prices was evident across the UK, with average prices increasing 9.8% across all regions in England, 12.1% in Wales, 11.4% in Scotland, and 10.7% in Northern Ireland. London saw the slowest regional growth, although prices still rose 5.1% in the capital. Further data from the Land Registry has also revealed the types of property that saw the biggest rises last year. Detached houses increased by 13.8% on average in England, and 15.3% in Wales. Flats saw a more modest increase of 5.1% in England, and 6.9% in Wales, which is another sign of buyers’ desire to find properties with more space in the wake of the pandemic. Most Searched For Locations in 2021 Revealed Leading property portal Rightmove has revealed the most searched for locations over the past 12 months, with London taking the top spot. After jostling with the capital all year, Cornwall took second place, followed by its near-neighbour Devon. The top 10 was a mix of city and countryside, with the likes of Bristol, Glasgow, Sheffield, York and Edinburgh all making the list, alongside the more rural spots of Essex and Dorset. The Celebrity Postcodes Pushing Up Property Prices When it comes to factors that push property prices skywards, the usual things to look out for are local school ratings and low crime rates. However, a recent study by the property portal, MoveStreets has revealed the incredible effect that having celebrity neighbours can bring. Their findings revealed that postcodes with a high level of celebrity activity see average house prices increase by 49% than the wider area. In London’s Mayfair, there’s a whopping 116% premium, compared with other properties in Westminster. The seaside town of Sandbanks in Poole isn’t too far behind, with average prices there being 101% higher than across the rest of Poole. It’s a familiar pattern nationwide, with the Cheshire towns of Wilmslow (73%), Alderley Edge (73%) and Prestbury (43%) all commanding a premium not seen in the rest of the county. However, for fans of reality TV, there’s not quite the same uplift for Towie hotspot, Brentwood, or Made in Chelsea’s King’s Road. The Essex town has an 8% property premium, while in West London, there’s just a 4% premium, compared with the wider borough.

The big news for the UK property market in December is the first rise in interest rates for three years, and various lenders are predicting a less frenetic housing market in 2022 . These are just some of the headlines this month in December’s UK property market update. Read on to find out more. Interest rates rise for the first time in 3 years The Bank of England has increased interest rates for the first time since August 2018 as inflation runs at its highest rate for 10 years. For homeowners with tracker or variable mortgages, this is likely to mean an increase in their monthly repayment of around £10 to £15 on average. Around two million homeowners will be affected, but with fixed-rate deals being a popular mortgage type, the change won’t impact all property owners immediately. The interest rate increase has been rumoured for some months and comes in response to inflation levels reaching 5.1% which is way ahead of the Bank of England’s 2% target. UK house price boom expected to end in 2022 One of the UK’s biggest lenders is forecasting an end to the current housing boom next year. According to Halifax, market growth is likely to remain ‘broadly flat’ in 2022, following two years of remarkable growth. Following increases of 6% in 2020 and 8% in 2021, the lender is predicting growth of 2% at most, with a flat market being the more likely scenario. The main reason for this slowdown is the rise in household goods and bills, meaning a squeeze on budgets for many households. Bank of England plans to relax mortgage affordability rules In positive news for first-time buyers, the Bank of England has revealed its plans to make mortgages more attainable. As part of the current criteria, would-be homeowners have to prove they could meet the repayments on their lender’s standard variable rate if interest rates increase by 3%. However, in the early part of next year, the bank will be meeting with big-name lenders and industry experts to discuss withdrawing the outdated rule. The rule was one of many affordability rules introduced in 2014 following the 2008 financial crisis. Its aim primarily was to ensure that any sharp rise in interest rates wouldn’t result in homeowners being unable to afford their mortgages. However, at that time, interest rates were forecast to increase to 2.25% over the next five years. Currently, interest rates stand at just 0.25%, and the latest forecasts indicate that any rise in interest rates is likely to be much slower than in previous years. If the planned rule change does come in, it’s likely to be a big boost for first-time buyers, many of whom wouldn’t meet the affordability criteria under the current rules. Survey reveals just how much parents are willing to help their children get on to the property ladder! A study by property portal Zoopla has revealed some of the eye-watering figures that parents are willing to gift their children to help them take their first steps on the property ladder. According to the study, the average amount forked out by parents to help their kids with a deposit is £32,440, while 14% of the parents polled have given them upwards of £50,000. The findings also revealed that an incredible 64% of parents with grown-up children who are homeowners, gave them at least some money towards their deposit. And it doesn’t stop once the kids have fled the nest either! The results also showed that 36% of parents have helped with their offspring’s rent or mortgage payments at some point. Council finds unique way to solve housing crisis One council has come up with a novel way of solving the housing crisis in its area. West Devon Borough Council is offering money to tenants who downsize, as part of its efforts to tackle a shortage of affordable family housing. Anyone with a council rented property who moves to a smaller home will be given a £1,000 fixed payment, plus £500 per bedroom they release. So, a couple who downsize from a three-bedroom house to a one-bedroom flat, for example, would receive a payment of £2,000. The council also confirmed that in some cases, the payment could be as high as £5,000 on a discretionary basis, where housing stock is particularly pressurised. Devon County Council’s leader has spoken openly about a housing crisis in the county, due to rising house prices and a lack of rental properties, and it’s hoped the new scheme will go some way towards combating the issue. 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 find out how we can help you buy a new home or sell your property.

The UK property market has seen a drop in sales, but prices continue to rise. Meanwhile, the happiest place to live in Britain has been named in a survey, and one mortgage lender has launched an extraordinary new fixed-term product. These are just some of the headlines this month in November’s UK property market update. Read on to find out more. House Sales Fall 52% In One Month, But Prices Continue To Rise Figures released by HMRC have shown a significant 52% drop in property transactions across the UK for October, following the end of the government’s stamp duty holiday. There were just under 77,000 transactions completed as buyers rushed to get their purchases completed before the 30th September. This made it the slowest October since 2012 and signalled a 28% drop in transactions from the same month last year. Despite the slowdown in sales, prices continued to rise across the UK, with Halifax reporting a 0.9% increase in average property prices, which was the fourth consecutive month they’ve risen. Their data also confirms that the average property price in the UK has crept above £270,000 for the first time, while fellow lender Nationwide also reported an increase of 0.7% on the average price. 40-Year Fixed Rate Mortgage Launched In a very rare move, one lender has recently launched a fixed-rate mortgage for up to 40 years. Specialist lender Kensington Mortgages has taken the highly unusual step as they seek to capitalise on growing uncertainty among buyers and homeowners who are anticipating an increase in interest rates. Although some lenders already offer a 10-year fixed term mortgage, Kensington’s new deal will allow borrowers to sign up for anything from 11 to 40 years. The interest rate will vary depending on the size of your deposit and the length of the mortgage term, but for those fixing between 36 and 40 years, the rate currently starts at 3.34%. The Bank of England’s interest rate is currently at a record low of 0.1%, but an increase is expected in the coming months, which will make the prospect of a 40-year fixed term deal attractive to many homeowners. Rent Increases Hit 13-Year High In Major Cities Increased demand for rental properties in major cities across the UK has led to the cost of rent reaching its highest point for 13 years. Some cities have seen demand double in their central zones, squeezing would-be renters out of town and forcing prices up. According to leading property portal, Zoopla, average rents across the UK have risen by 6% in the past 12 months, with the South West seeing a 9% increase as demand for properties has continued to outstrip supply. It’s a similar picture across the UK, with only London failing to see the same kind of increases, although prices have still risen 1.6% in the year to September, but they’re 5% lower than they were pre-pandemic. Britain’s Home-Selling Hotspots Revealed Research from leading property website Rightmove has revealed the country’s 6 top hotspots for sellers. Grays in Essex and Mangotsfield, Bristol share the number one spot, with 84% of the homes listed for sale on the website already sold subject to contract. Following closely behind, Eastleigh in Hampshire and Redditch in Worcestershire both have 83% of properties sold subject to contract, while Yeovil in Somerset and Hythe in Kent complete the top 6, with 82% of properties sold STC. Perhaps rather tellingly, none of the top 6 are city-centre locations as an increase in remote working since the pandemic has led to employees having more options when it comes to where they live, and buyers are increasingly looking for more bang for their buck. Britain’s Happiest Place To Live Revealed Leading property portal Rightmove has released the results of their annual ‘Happy at Home Index’, which reveals that Hexham is the happiest place to live in Britain. The market town in Northumberland scored highest overall based on factors like the friendliness of neighbours, its sense of belonging, the quality of local amenities, and the availability of open space. It’s a return to the top spot for the North East town, which was also number 1 in 2019’s survey. Richmond upon Thames was the happiest place to live in London for the 7th year in a row. The affluent borough in the southwest of the capital, where average house prices are just under £1.2m, came second overall in the standings. Harrogate in Yorkshire rounded off the top 3, while 2020’s winner, St Ives in Cornwall came 8th. 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 find out how we can help you buy a new home or sell your property.

Welcome to our round-up of some of the property news stories that have caught our eye this past month. Prices Remain Strong The average price of a house is still on the up, according to analysis of the figures by Halifax. Looking at all the stats, the bank noted that through September the average UK property price is now priced at a record £267,587. What’s more, annual house price inflation is up to 7.4 per cent, from 7.2 per cent. This is interesting because the Stamp Duty deadlines have passed, and so it is good to see prices still buoyed. The slight fly in the ointment might be the fact that the Bank of England figures show the number of mortgages approved to finance house purchases fell in August 2021 by one per cent. Perhaps there is a slight softening of the market overall. Here in South East London and North Kent, we are still selling properties for, or above, the asking price. What’s more, it is only taking days for some properties to sell, and just hours for properties to rent out. If you’ve been thinking about doing something with your property, now is still a good time. Overall though, supply is still down. An ongoing issue in the property market has been further highlighted in a report that looks at key trends in the sector. Landmark Information Group’s Property Trends Report shows that for a fifth consecutive month, there has been a low number of properties coming to the market. Demand, as they say, is outstripping supply. There could be a number of reasons for this, but we would say that if you really want to sell, get your property on the market now. There will be interested parties lining up to look around and any one of those could be a potential buyer. Negotiating Confidence Around 64 per cent of UK homebuyers and renters say they feel confident negotiating over property prices, reports PropertyWire. But six in 10 admit “the biggest challenge is timing and knowing when to negotiate”. It’s an interesting one. On the one hand, people say they are confident but actually, they don’t really know when to negotiate. It’s what one might call a paradox. But, there’s a way through. Use an estate agent who can use their knowledge and expertise to negotiate at the right time. We can do that for you! We know the South East London and North Kent inside out and so are able to take action when we need to. Going Green Paying Off Have you installed eco-friendly systems in your home? If you haven’t, you could be missing out. This has been written about by many, including Property Reporter, which says that property website Rightmove has looked at house prices and Energy Performance Certificates. It’s been reported that people who have “upgraded their rating from an F to a C, are adding an average of 16% to the price achieved for their home”. That’s a huge jump, but before you do anything, have a look at the costs involved and the efficiencies made. You’ve got to make sure the figures work for you. If you need any advice on this, give us a call on 020 3633 9866. 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 find out how we can help you buy a new home or sell your property.