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Housing changes the UK hopes to see
Before the election, property experts Rightmove carried out a survey to ascertain what this new government’s priorities should be when it comes to housing. Here is a roundup of what the nation is hoping for.
Speed up housebuilding
One of the top recommendations was making improvements to the housebuilding process1. Buyer demand has increased by 15% since 2019, but the number of available homes has not increased at the same rate. In fact, supply is 6% lower than before the pandemic. The rental market has experienced a similar challenge – tenant demand is 32% higher than 2019 but supply of rented homes is down 38%. As a result, asking prices and rents have increased. To solve this, Rightmove’s property expert Tim Bannister suggests “smoother planning processes to transform the delivery of new homes and produce more affordable housing”.
Help for first-time buyers
Another top priority was providing better support for first-time buyers (FTBs). It is perhaps unsurprising that this was the most popular request from renters, as now is a particularly challenging time to get a foot on the property ladder and the average age of FTBs is increasing2. Rightmove’s mortgage expert, Matt Smith commented,“it’s critical that the government works with regulators and lenders from day one on any mortgage solutions, to ensure buy in and take up, which will in turn create more options for first-time buyers.”
Reform Stamp Duty
Many have called for changes to Stamp Duty1. FTBs in England and Northern Ireland have been exempt from Stamp Duty on homes up to £425,000 since 2022. But this exemption (due to end in April 2025) is not beneficial for most FTBs in the capital, where house prices are higher than the rest of the UK. With this in mind, Tim Bannister reflects, “With such regional differences in property prices, increasing Stamp Duty thresholds in line with these regional differences would seem a logical first step for Stamp Duty reform.”
Make homes greener
Homeowners and renters would like to see the government put some incentives in place to encourage people to make their properties greener. Following Rishi Sunak’s announcement that private rented properties will no longer have to meet the minimum EPC rating of C, many landlords have put their plans to improve energy efficiency on the back burner. Rightmove commented, ‘Homeowners also need better and easier access to schemes that enable them to make green improvements, with the recognition that each home requires different improvements and that currently the upfront costs are a big barrier to change.’
We’re here for you
As the UK settles into the new government, we are here to help you through any changes.
Your home may be repossessed if you do not keep up repayments on your mortgage
1Rightmove, 2BSA
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Did you know that Spring tends to be the best time to sell a property? It’s true – the Spring months of March to May are arguably the best and most consistent months for property sales year in, year out. Whether you’re an investor or homeowner looking to sell your property, here are the top five reasons why SPRING is the best time of year to get your property on the market and ready to sell.
1. High level of demand and need for supply
The warmer Spring months with lighter, brighter days tend to be more appealing for property hunting than the heat of the Summer or the freezing cold of the Winter. With an increase in demand for properties, it makes sense for sellers to take advantage of the selling opportunities and put a property on the market.
2. It’s the season of new beginnings
Spring is typically a season associated with new beginnings – you’ll see new buds appearing on trees, new flowers emerging from ground and new life in nature – and this feeling of newness seems to flow through to the property market too. It’s a time when people begin to think about new possibilities and make plans for the rest of the year, such as buying a new property and moving house.
3. Spring weather boosts kerb appeal
The lighter, brighter days of spring can significantly help to boost the kerb appeal of properties. The days tend not to be as dark and dreary as they can be during the heart of winter (bar the occasional weather decline!) and better natural light helps improve the exterior view of properties. For example, it can bring out the natural colour of stone or bricks or make architectural features look better.
Even if you don’t have a property with a garden, there’s likely to be trees coming into bloom or flowers blossoming in your neighbourhood, which can reflect positively on your property too. If you have an apartment with a balcony, a few pots of pretty Spring flowers could brighten up the outdoor space and add an inviting appeal.
4.Spring light aids interior photography
In the same way that improved natural light aids exterior kerb appeal, so too will it help aid the interior photography of your property. Good photos are a key element of successfully selling your property and it definitely makes a difference when there’s better natural light in which to take them. They’ll be less time-consuming editing involved to get them up to scratch and, in theory, it could be quicker for your agent to get your property listed.
5. It’s better weather for moving
On a practical note, for those that are thinking of moving, Spring is a more appealing time to do so. The weather tends to be better than during the Winter and you’re not yet thwarted by the energy-zapping heat that Summer can bring. Plus, for families with children, it’s likely to be an easier time of year to move, whilst they’re still at school and so they can be settled in a new home before a new school year starts in September.
If you need any help, or advice on your purchase and of course mortgages we here at Acres can help, Click here to use our multiple mortgage and stamp duty calculators
If you’re thinking of selling your property to take advantage of the Spring boost in sales, don’t forget to get your property looking its best first. A good spring clean can freshen up your interior and a quick lick of fresh paint on your front door can make the world of difference and improve the look and feel of your property – those first impressions really count! Contact us today to get your property on the market now
Want to check how much your home is worth? You can get an Instant Valuation here.
If you would like to discuss selling your home, please get in touch with us This email address is being protected from spambots. You need JavaScript enabled to view it. or call any of our busy, helpful teams/offices:
Four Oaks 0121 323 3088
Sutton Coldfield 0121 321 2101
Walmley 0121 313 2888
Great Barr 0121 358 6222
Lettings 0121 312 4997
Mortgages 0121 387 1616
Thank you for reading this article, and your interest in Acres and our property for sale.
Nigel & Jayne Deekes – Acres Partners
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Last year, Acres was delighted to celebrate its 20th anniversary of supporting the Royal Sutton Fun Run.
Our team of 22 entrants raised £730 for our chosen charity, Motor Neurone Disease Association and we also contributed £200 to Brain Tumour Research, the chosen charity of our selfie competition winners, Pink Mad Hatters.
We were thrilled to learn the 4000+ entrants in last year’s 40th event, raised £187,100.
This figure was more than double the total raised in 2022, and takes the total distributed to charities and voluntary organisations to an astonishing £5.1million since the first event in 1982.
Acres is thrilled to be supporting this year’s event on 2nd June, its traditional date on the Sunday at the end of spring half term.
Fun Run Event Director, Tracey Spare said: “We’ve enjoyed fabulous commercial support from Acres as a supporting sponsor since 2003.
“They have sponsored the very distinctive mile and landmark signs around the course, which, for most people, are a crucial indicator of how many miles remain to complete the challenging 8.5-mile course.
“Back in 1982, the Fun Run was created to provide a vehicle for people to enjoy an event with family, friends and work colleagues whilst offering the opportunity to raise money for a charity or voluntary organisation of their choice.
“Acres has consistently embraced that model by entering a large team and raising thousands of pounds for its chosen charity Motor Neurone Disease Association.
“Alongside all our commercial partners, we’re indebted to Acres for its support, both as a commercial partner and team entrant.”
Part of the appeal of the annual Royal Sutton Fun Run is that it’s not a race. There are no restrictions on who can participate and they welcome participants of all ages and abilities, including those with learning, physical or emotional life challenges.
Online registration for the 41st Royal Sutton Fun Run opens over the first weekend of February via www.royalsuttonfunrun.org
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What I like about Acres is their straight, no nonsense approach. Believe me, current markets are difficult, but they got the job done ! Hats off to the team! This might sum it up better-paraphrased ( from the A-Team Tv series )
If you have a problem, if no one else can help, and if you can find them, maybe you can hire... the A Team (Acres Team)
Thanks Nigel and Team!
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