Durden & Hunt's latest Newsletter

Add value to your home with the perfect outdoor living space

A well-designed outdoor living area can not only add to the value of your home but also to the usability and enjoyment of the space. In many ways, it’s like adding another room to your home, and you have real freedom to create something special that adds to the quality of life in your home. Increasing feelings of well-being and providing an ideal place to relax, outdoor living spaces are what you make of them and often it’s a good idea to seamlessly blend the outdoors with the indoors

Design with the future in mind

There are no rules when it comes to creating your perfect outdoor living space. If selling, in the near or distant future, is on your mind keep the structure simple, such as neutral paving or decking, and leave space for embellishment that can be removed to taste, such as cushions and mirrors. This allows for both yourself and future buyers to add personality and vision to the space with smaller elements.

You can have more than one space!

Who’s to say you can’t create more than one outdoor living space? You could build decking and a patio near the rear of your home, with a path leading to tables and chairs and a stove for the winter at the bottom of the garden. Sectioning the garden will create zones with dedicated uses, whether sunbathing, film screenings or socialising.

Hire the right help and build it to last

Maybe you can do some of the work yourself; perhaps you need to hire help for it all. Whichever approach you take, build your outdoor space to last. It will help when it comes to retaining the added value of your home whilst looking good and being a nicer place to enjoy. So if you lay decking and install trellises, treat them so they look good for years.

Do you need to do it all?

Perhaps you don’t need to undertake a complete renovation of the space to make an impact. It could become a more long-term project, so why not do it in stages and start with a general spruce-up? There is always a new trend and new ideas, and leaving a little space to perfect, improve, or build on what you have leaves a little potential for buyers to add their own mark. Additionally, this will allow for budgeting effectively.

Browse our properties to find a home with your perfect outdoor living space.

Energy-efficient homes are in big demand - Here’s how you can improve yours

Unlike many other things in your life, when it comes to your home, there is a lot you can do to save on energy costs. Food costs are spiralling, and while you can grow some things, it’s most likely you can’t grow all you want. The price of cars has also gone up, as have the prices of many other consumables and raw materials, and yet again, there is not much you can do about it.

Many of us lament the cost-of-living crisis and feel helpless in the face of such adversity. So here are some quick fixes and big improvements you can undertake to increase the energy efficiency of your home while at the same time adding to its value.

Quick fixes

Install a smart meter: this can be supplied by your energy provider, so you can see exactly how much energy you use.
Loft insulation: this is a simple way to keep heat from escaping your home and can save you a lot of money on heating bills. It is something you could do yourself with the right protective equipment, but don’t fall through the roof! Perhaps you don’t feel up to it after all? Don’t worry; there are many specialists who can do this for you.
Collect rainwater for the garden: by collecting rainwater in your garden in a butt, a barrel or an all-singing, all-dancing water tank complete with a pump. Whichever you choose, you are making your garden greener by harvesting rainwater!
Low-flow showerhead: you can buy one of these for less than £20 and install it in minutes by simply unscrewing your old showerhead and replacing it. Being more efficient could mean you use your boiler a little less, too.
Energy-efficient light bulbs: they might be a little more expensive, but they will save up to 80% on energy use and last up to ten years!

Big improvements

Install a new boiler: improve your energy performance certificate with a new boiler. Having an old boiler will put buyers off, and the value of your home will increase sufficiently to cover the costs of a new boiler.
Air source heat pump: with government grants making this option more affordable, heat pumps are becoming more popular. British Gas offers a complete fitting service.
Triple-glazed windows: this will improve your home's energy rating further. Your home loses a lot of energy as heat escapes through the windows. When they are clean, windows allow a lot of heat from the sun to enter. Triple-glazed windows trap that heat more efficiently, saving you money on the energy you use to heat your home.
Photovoltaic solar panels: as solar panels become more popular, we are all becoming more aware of them. Less well-known are photovoltaic solar panels, which work even when it’s cloudy—perfect for the UK! Did you know you could sell the electricity they generate back to your local energy supplier, potentially making them pay for themselves?
Hot water solar panels: placed on the roof like traditional solar panels, they heat the water for your shower, bath, and kitchen sink!
Install a wind turbine: we see them dotted all over the countryside, but perhaps surprisingly, you can buy smaller versions for your home that will create enough electricity to run your entire home.

Find a good deal

Many of these quick fixes and bigger home improvements are eligible for government assistance depending on different criteria, and there are some good deals to be had with energy suppliers and local businesses, so it’s always worth a look online to check out the latest deals.

Looking to move to a more energy-efficient home? Want to know how much value you have added by improving the energy efficiency of your home? Book a valuation.

Are you hunting for your forever home this spring?

Spring is a great time to go house hunting! Houses will always look more inspiring in the sunshine and it can be fun to explore homes without navigating the cold and wet or after being cooped up all winter. You also get to see your potential home in its true light.

Finding your forever home takes time!

You could be lucky and cast eyes upon your forever home instantly, almost like love at first sight. Chances are, even if you fall in love with a home on first viewing, it might not tick all your boxes straight away. After all, forever is a long time so don’t get disheartened if at first you don’t succeed.

The market

Right now, the market is in a stable condition. With the housing market being calmer, there is more choice and reasonable pricing so it might be worth expanding your criteria and requirements to see what you might find.

Explore

Don’t just go on viewings; explore the interesting aspects of the home with an open mind. You could always brief our team on your requirements as who knows what we may find for you. After all, we are expert property hunters.

Location

This is essential when considering a potential forever home and so consider the long, short, and medium-term needs of all in the household. From schools and work, to the proximity of transport and open spaces. The story of your forever home may change as time goes on, such as needing a practical work-from-home space to requiring an extension in later years!

Scope for improvements and extensions

From the interior to the electrical appliances to the general condition of the building, you should consider things from a long-term perspective. Will you be happy with the aspect of the rooms? Will you want to make major alterations? Perhaps you have a vision of open-plan, eco-friendly living. A forever home is a long-term investment.

Get in touch to see how we can help in your search for your forever home.

Take a look at the fresh buy-to-let investment opportunities this spring

Summer is nearly here, and there are many opportunities to expand your property portfolio or take your first steps on the buy-to-let ladder. Below we’ve outlined some of the reasons why now is the time to make a great investment.

Demand continues

The demand for rental properties is continuing to grow, with demand per available rental home last year spiking by 250% above the five-year average.* With people typically taking longer to get on the property ladder or choosing not to, long-term demand due to the shortage of rental property is anticipated to remain strong.

Rents are increasing

Rents have increased by 20% in the past three years, increasing by 11.1% in the past twelve months to March 2023.* The buy-to-let industry can potentially be very lucrative, and with higher demand, higher rent revenues may be achieved.

Buy-to-let mortgage choice is increasing

There are over 2,000 different mortgage deals available if you are buying a property to let;* so you should have options.

A bigger choice of properties

The standard of homes on the market has generally risen, with many coming up for sale at this busy time of year. Additionally many people put off moving in the latter part of 2022 and, during the pandemic, spent a lot of time and money getting their homes in tip-top shape.

The age range of renters has changed

The population in the UK is ageing, and unlike in the past, older generations are increasingly renting alongside younger people starting their property journey. This is yet another great opportunity to meet the demand for a niche in the market by targeting this sector.

Other sectors

Other avenues, such as holiday lets or student accommodation, present an opportunity to expand and launch your buy-to-let portfolio.

Get in touch to see how we can help create a property portfolio for a great return on investment.

Zoopla*

Could waiting to buy your new home cost you money?

Buying a home is a big decision, so you can’t be blamed for becoming a little pensive about making your move. Deciding whether you are going to move now or wait and see what happens is a conundrum for some buyers. As soon as you turn on the news, you will no doubt be bombarded with the cost-of-living crisis, another interest rate rise, or another reason to worry. It’s little wonder some people decide to pause their search. But could doing that cost you more money?

Waiting for interest rates to improve may not save you money

There is little doubt that we have been spoiled in the past with ultra-low mortgage interest rates, and many analysts suggest that they will never fall to the previous low level again. Although the Bank of England expects inflation to fall to 5% by the end of this year.*

Rising house prices balances your budget in the long run

Most people who buy a home in the UK will keep it for many years. House prices may fluctuate just as interest rates do. As interest rates and inflation begin to fall, house prices will likely ascend again. So, if you are waiting to see what happens, you run the risk of paying more for the home you want in the future. In February 2013, the average UK house price was £167,682 in February 2023, that figure stood at £288,000. ** Set against this longer-term perspective, if there are sudden and significant changes in the market, the reality for most homeowners is that in the long run their properties' value may perhaps cover the cost of increases in interest rates.

Properties are unique

There are no hard-and-fast rules. Local property markets are layered with unique and differing qualities. Whatever the national economic conditions are, the potential to gain equity in a home due to its condition, location, or potential can secure your investment in the face of challenging times.

Mortgages

It seems there will be continued fluctuation on available mortgages for the foreseeable which has made some buyers think outside the box to consider other options over perhaps the more traditional 2 or 5 year fixed deals. Its always worth speaking to a mortgage broker to identify exactly what you’ll be able to afford and available rates ahead of your search.

Are you fed up with waiting to make your big move? Browse our properties.

Bank of England*
Office for National Statistics**

New year, new home, new beginning?

Here we go again! Another new year, another chance to find everything you are looking for in a property. Could 2024 be the year that you have all the right questions answered with a lovely new home?

A new year

With visions of a better year ahead for 2024 popping into your head, you are forgiven for feeling excited about moving. The Christmas break is the perfect time to start searching as thousands of properties magically appear on the market. Sitting back in your favourite chair by the fire when you have some time to take a step towards a better future is a nice way to relax. A new year always brings new opportunities. If you see yourself and your loved ones sitting in a better garden, enjoying a bigger kitchen, or beaming with smiles because you are living in the location you love, then talk to your agent. The past year has been strong and proves that the UK property market is extremely resilient. Buyer demand is still incredibly strong, and prices are stable. At this time of year, you have the best of all worlds. There is plenty of buyer activity, but also plenty of people who will wait until the market is in full swing in the spring. That means high demand with not-so-high supply, which could lead to a swift sale and the new home you have been looking for.

A new home

The past few years have been eventful, but 2024 looks like it could be the year in which things settle down, which is why many people will choose to do exactly that. Making new friends in a new location, even if it’s in the same town, is an opportunity to make a fresh start. Decluttering your life from all the stuff you have collected over the years is a liberating experience. There is something extra special about doing this as the year begins. Are you craving a better property with a garden and an outdoor living area to cherish, that is, energy-efficient, full of character, cosy, and airy at the same time? Could a move mean a better education for your children? Could it lead to a happier life? Create a healthier life closer to family? A holiday home or a buy-to-let investment? Whatever you are interested in now is your opportunity to make a move before the property market takes off again.

A new beginning

There is so much to feel positive about as we head into 2024. Interest rates are stabilising, leading to lower mortgage rates and an increase in the number of mortgage types available. There is more time to pay with longer terms, interest-only options, porting, green mortgages, guarantor mortgages, interest-only and offset mortgages, which allow you to use your savings to reduce your balance, meaning you pay less interest. Agents’ listings are full of properties that have had a lot of work carried out, elevating them to new standards. And the market looks nicely placed due to its steady pace built on solid foundations. This is based on high demand and a high rate of mortgage-free home ownership. Don’t be jealous; this helps keep the property market financially secure. In 2021, 32.6 percent of dwellings were owned outright in England.* The market has become more complex than ever, and properties are becoming more individualistic. It takes real expertise and market knowledge to optimise your home move, so you can make the most of your new beginning.

This is money*

What will the 2024 UK property market look like?

It’s impossible to predict the future completely, so why worry? When homes sell incredibly quickly, this often leads to rapid property price inflation. Right now, the market is stable and not growing rapidly, which makes it a good time to move. You have a little more scope for negotiation while still achieving a great price for your existing home, as it will have gained in value in recent years. With inflation falling in November by 2% to its lowest levels in two years to 4.6%* and wages rising, the market is returning to normal. The expectation is of slowly falling rates and rising property prices steadily emerging towards the end of 2024, but could this occur earlier than expected with the January rush?

Winter

Winter 2024 begins in December 2023, as many homemovers get a head start on finding a great home before January. Sellers are itching to move, having placed their homes on the market in time for scores of viewers, who create a Boxing Day home moving boom. In fact, the week of Christmas is one of the busiest times of the year.

Spring

Those who have waited to move in January will now place their homes on the market as the property market gets into full swing. Added to those who decided to take the plunge by moving into their dream homes in time for sprouting daffodils. As mortgage rates become more competitive, combined with a strong beginning in 2024 with better buyer affordability, there will be real momentum in the market.

Summer

If you have already bought your home at this point, you may have got the timing just right. In many ways, 2024 is a good year to buy and then gain the rewards of good growth in the following years. Overall, the outlook appears steady, with a lot of stability. You could be sitting pretty with a garden in full bloom and concentrating on a holiday, knowing your property plans are sorted and all you’ll need to do is make the most of enjoying the reality that was once a dream.

Autumn

This appears to be the only season of change, and perhaps we are tempting fate to look this far into the future. But if the predictions of analysts are correct, mortgage rates will start to decrease further but not return to the extreme lows of the past. As a result, property prices will start to rise more rapidly.

Your agent can transcend time

Any time is a good time to move; it’s more about you and your home. Good estate agents hold the keys to optimising your situation at any time of the year and are becoming extremely adept at the entire moving process. Today, they are armed with vast databases of homemovers that connect your home with the right buyer quickly. They can help broaden your mortgage options with the right mortgage advisor and fine-tune the value of your home, which is critical in today’s market. Finding the property that will improve your life immeasurably will help you feel awesome all the time.

Bank of England*

How to present your home for a viewing in 2024?

Have you placed your home on the market with the goal of relocating in the new year? If so, it's worth taking a little time to help make sure your home looks as irresistible as possible when potential buyers come for a viewing. Let's look at what you can do to improve your chances of receiving the offer you desire for your home.

Give your home some kerb appeal

First impressions are crucial. Because of this, your property's exterior should be appealing so that prospective buyers are impressed before they even step foot inside. One way to achieve this is by giving your door a clean, and maybe even a lick of paint. If you have a front garden, mow the lawn, trim any shrubbery, and get rid of any weeds that may be growing on your driveway or patio.

Open up the space

It is important to try and make sure your home is clutter-free, as a clean and organised interior can help showcase the full potential of a property. A tidy living area allows potential buyers to envisage themselves in that property, increasing the likelihood that they will make an offer. A cluttered property will likely distract people from your home’s features and may give the impression that the property has not been maintained properly.

Make the necessary repairs

Before showing your home to prospective buyers, you might consider making any l necessary repairs as this will give them confidence that the property has been looked after. A property that has no issues will likely achieve a higher asking price and sell faster, as potential buyers will be more encouraged to make an offer.

Let some light in

In order to create a bright, welcoming ambiance that will attract prospective buyers, it is important to let in as much natural light as possible during a viewing. As well as improving your property’s aesthetics, natural light will make your home feel more inviting and spacious whilst showing off your home’s features and character.

Freshen up the air

Allowing fresh air into your home is a great way to create a pleasant and clean atmosphere. A well-ventilated home removes bad odours and reduces the effects of damp and condensation, which could put off potential buyers if present. Creating that fresh feel in your home could make all the difference when potential buyers consider making an offer.

Looking to move to a new home in 2024? Contact us today

Properties are selling faster than you might think

Are you thinking of selling your home but worried about how long it could take? The sale time may not be as long as you think. There are many different factors that can affect the speed of a sale, including pricing strategies, local market conditions, and property type. Let’s take a look at the current average sale times of a range of property types and how you can help secure a sale in good time.

Two-bedroom terraced houses are selling quickly

According to Zoopla’s November 2023 study, two-bedroom terraced houses sell faster than any other property type, with an average sale time of just 28 days.* This is primarily attributed to the fact that they are one of the most affordable property types, as well as being relatively rare, accounting for just over 8% of properties on the market recently.* Three-bedroom terraced houses and three-bedroom semi-detached houses sell the second quickest, in just 31 and 32 days on average respectively* whilst flats take between 35 and 37 days on average, depending on the number of bedrooms.*

Larger properties are not far behind

You might expect sale times for larger properties to be much higher. However, the average sale time for a four-bedroom semi-detached house is just 39 days, with a terraced property containing the same number of bedrooms taking just two days longer.* Three-bedroom detached houses take 43 days to sell on average, whilst the property type included in the study that takes the longest time to sell, four-bedroom detached houses, takes just 47 days on average.*

The market has stabilised

The more eagle-eyed individuals may notice that these figures show an increase in average sale times compared to Zoopla’s 2022 study. However, this is attributed to the housing market stabilising after the pandemic. Sale times are still relatively fast and should definitely not deter anybody considering selling their home.

What you can do to secure a sale quickly

There are several things you can do to ensure that your property sells quickly and smoothly. Firstly, its important to choose the right agent, you need to not only get along with them but also know they will work as hard as they can for you. It is also important to price your home correctly, as overpricing your property may discourage potential buyers from making a bid and in fact, potential buyers may not see the property on portals due to pricing brackets. Making sure your property is well-presented for viewings can also help to secure a quick sale, as it helps to allow viewers to envision themselves living there.

Looking to sell your property? Contact us today

Rightmove*

What is tenant referencing?

Typically conducted by a letting agent on the landlord’s behalf, tenant referencing involves checking various aspects of the applicant’s background to help ensure they are responsible and financially stable. Let’s take a look at why tenant referencing is important, what checks you should carry out and what your options are if a tenant fails their referencing check.

Why is tenant referencing important?

The process is crucial because it helps you, as a landlord, ensure you are renting your properties to reliable and responsible tenants, thereby reducing the risk of future disputes and financial losses. It’s also important because most landlord insurance providers require proper referencing checks to be carried out on all tenants.

What type of tenant referencing checks are there?

Credit check

A soft credit check looks to confirm that the tenant does not have any outstanding debt or a poor credit history. It’s important to remember that you must obtain written permission from the tenant to conduct this check.

Employment and income verification

An employment check involves verifying a tenant's employment status and salary to ensure they have a steady source of income that will allow them to keep up with rent payments. Most landlords typically require the tenant's household income to be 2.5 times higher than the rent.

Previous landlord references

The tenant’s previous landlord may be contacted to provide insights into their rental history and behaviour. This usually includes information regarding the tenant's payment history, property maintenance and any issues during their tenancy.

Identity and Right to Rent check

You are legally required to conduct a Right to Rent check to verify that tenants have the legal right to live in the country. This check involves confirming the tenant's immigration status and requesting proof of identity and residency.

What can cause a reference to fail?

If any of the above checks are not passed, it could result in the tenant not passing the referencing process. There are a range of reasons these checks could fail, including poor credit history, insufficient income, employment instability and issues with previous tenancies.

Another common reason for a reference not passing is tenants providing false information in a section of the referencing process. You may decide not to rent your property to a tenant if their previous behaviour or criminal record raises red flags.

What happens if a reference fails?

If a tenant fails the referencing process, there are several courses of action you can take. It may be best to reject the rental application and search for more suitable tenants. If there is only a minor discrepancy in the application, you could ask the tenant to find a guarantor.

A guarantor is someone who agrees to be responsible for a tenant’s rent and any other liabilities under the tenancy agreement if the tenant fails to meet their obligations. They must be willing to undergo similar tenant referencing checks, including credit checks and employment verification.

How long does tenant referencing take?

The tenant referencing process can take anywhere between 48 hours and two weeks to complete, depending on how quickly the tenant, their guarantor and their previous landlords and current employers take to provide the necessary information.

What laws are there regarding tenant referencing?

Tenant referencing is governed by several laws and regulations designed to ensure fairness, transparency, and personal data protection.

The Data Protection Act 2018 regulates the handling of personal data. You must ensure that all personal data collected during the referencing process is processed lawfully, transparently and securely. Tenants have the right to know how their data is being used and to request access if necessary.

The Tenant Fees Act 2019 makes it illegal for landlords or agents to charge tenants for the cost of referencing checks, while the Equality Act 2010 ensures that landlords cannot discriminate against potential tenants based on characteristics such as age, disability, gender, race, or religion.

How your agent can help

Letting agents play a crucial role in facilitating the tenant referencing process, helping to make it as smooth and efficient as possible. They can use their expertise and resources to verify tenant details on your behalf, saving you time and giving you peace of mind about the tenant’s reliability.

If you’re a landlord who is considering expanding your property portfolio, you are not alone. According to a survey from Landbay, 44% said they are looking to invest in property in the next 12 months. *

This is an increase of 12% compared to the same survey conducted 12 months prior. In fact, over six out of ten landlords planning to buy said they were doing so to expand their portfolio. *

Confidence is key

The fact that so many landlords are considering expanding their property portfolios is a testament to the rental market's current strength.

One of the primary reasons for landlords to be confident is the strong demand for rental properties. This demand is expected to continue growing in the coming years, providing landlords with a steady stream of potential tenants.

Plus, as property prices rise, property values appreciate. This gives landlords the opportunity to increase rental income and maximise their return on investment.

The benefits of expanding your portfolio

Increased cash flow

One of the main benefits of expanding your property portfolio is the potential for increased cash flow. By purchasing more buy-to-let properties, you could generate more rental income each month.

You might use this income to help offset any mortgage payments and expenses associated with maintaining the properties.

Property appreciation

Property appreciation is another significant benefit of expanding your portfolio because your total return on investment should increase as the value of your property rises over time.

As properties become more valuable, landlords build more equity, giving them more options to reinvest in more properties or negotiate better mortgage terms.

Although house prices have remained relatively flat over the last 12 months the first half of 2024 saw house prices rise, across the whole of the UK, and its anticipated that they are on track to have increased by 2% by the end of the year**. Further, between June and July Halifax suggests the average home grew in value by 0.8%.

Diversifying your investments

Growing your property portfolio also allows you to diversify your investments. By spreading your assumed risk across multiple properties in different locations, you can help to protect yourself from market fluctuations and unforeseen events that may impact an individual property.

Leveraging

You may be able to use your existing properties to help buy new ones. By using the equity in your current properties as a deposit or collateral for a new loan, you may be able to expand your portfolio without having to raise significant additional funds upfront.

How your agent can help

Working closely with a local agent can help you expand your property portfolio efficiently. With our detailed understanding of local market trends, rental yields, and landlord regulations, we can offer valuable insights and strategic advice.

Its important to understand your requirements so we can assist you in identifying exciting investment opportunities, negotiating deals, and managing your properties efficiently.

Landbay*

Zoopla**

One of the first and most important components when selling your home is the expert agent valuation. It will inform you of your property’s value and a potential asking price you could set when placing your property on the market.

In this article, we discuss how your property is viewed and valued in a home valuation, allowing you to gain a better understanding of how an expert agent determines your home's overall value.

Is a home valuation important?

Home valuations can affect the entire selling journey of your property, so you need to ensure they are calculated correctly. If an inaccurate valuation is completed and it’s reflected in the asking price, this could potentially put potential buyers off or not help you to achieve the true value of your home.

First impressions count so its important to come to the market with an accurate, fair representation of your home’s value in the asking price.

Further, knowing your home's true value can provide you with a clearer budget for your next property search including helping to identify any current equity within your property if you were to sell.

How does an expert agent value your property?

Our expert agents will use their own experience and knowledge of the local market, along with a number of physical components, to determine the value of a property. These include:

- Location

- Layout

- Size

- Condition

- Unique features

For example location; this determines the local amenities, schools, opportunities, and transport links the property could provide. Or size, two properties on the same street might differ significantly in square footage and as such will likely present a different value.

When valuing a property, agents use the price of comparable homes that have sold in that area to also understand what potential buyers might be willing to pay, considering the local supply and demand.

Of course its not an exact science and you don’t have to state an exact price, this is where agents can use price qualifiers such as ‘offers in excess of’ or ‘asking price’ to help inform potential buyers of the parameters of the value.

How do you decide which agent to go with?

Choosing the right agent can be a daunting process, as your home might be most valuable asset.

It's not always wise to choose an agent based on how much they value your home for, its easy to think that the highest price is best but it does not mean its achievable.

Having a good relationship with your chosen agent is essential, as you will spend a lot of time with them and you want to make sure they love and respect your property as much as you do. You want a team, such as Durden and Hunt, who will negotiate on your behalf to help achieve the absolute best possible price for the property.

Durden and Hunt offer support from your first, free, no obligation home valuation all the way through the sale process, including the search for your next home.

Book a free, in-person valuation today and allow us to support you throughout your entire selling journey

If you’re in the market for a new home, you might just have timed it right. According to data from Rightmove’s house price index, this summer saw the highest number of homes for sale in eight years.*

As a result, it comes as no surprise that sales increased by 15% above July last year.* Additionally, because the number of homes for sale has increased at a slightly faster rate than sales agreed, there is a strong supply of available homes for sale.

Why is the market growing?

Stable prices

Despite the increase in the number of homes for sale, property prices have remained relatively stable. This seems to have provided a sense of assurance for both buyers and sellers, creating a balanced market where transactions can occur smoothly. The stability in prices encourages more homeowners to make their move, knowing that they should be able to achieve a fair value for their homes.

Lower mortgage rates

The decrease in mortgage interest rates is another factor no doubt contributing to the high number of homes for sale. With interest rates falling in 2024, many potential buyers are taking advantage of more favourable borrowing conditions to buy a home.

How does this benefit buyers?

Increased options

With the highest number of homes for sale in eight years, buyers now have a wide range of properties to choose from and are potentially more likely to find a home that fits their specific needs and preferences.

Sellers are often buyers

The owners of the properties coming to the market are often looking for their own new home and can become potential buyers of other properties themselves.

How does this benefit sellers?

Increased exposure

More homes for sale means more listings for buyers to browse through. This increased visibility can benefit sellers because it may attract a larger pool of potential buyers to their property.

Faster sales

While an increase in available properties may seem like bad news for sellers, with more options available, motivated buyers could be more likely to make a decision and move forward with a purchase.

Competitive pricing

By pricing properties competitively, sellers can set a reasonable asking price to help attract more interest.

How a good agent can help you

As a buyer, a good agent, such as Durden and Hunt, can help you find your dream home amongst the options available. They will listen to your needs and preferences, then use their expertise to narrow down the search to properties that meet your criteria. An experienced agent can also help you make an offer and close the deal.

As a seller, you can benefit from Durden & Hunt agent’s in-depth knowledge of local market trends as they help you price your property competitively to attract the right buyers. A reputable agent will also handle all the negotiations and initial solicitor introductions, to ensure the process is as seamless as possible.

Book a valuation today to start your move

Rightmove*