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Your Move Property Blog

Thoughts, Opinions & Analysis of the UK Property Market

October 2014 House Price Index

November 13, 2014 10:57 by Your Move Press Office

PROPERTY MARKET SHRUGS OFF SLOWDOWN AS SALES SURGE 9% IN OCTOBER

· Highest number of completed home sales in seven years driven by an uplift in activity outside of London
· House prices climb 0.7% (or £2,026) in a month, in response to demand
· Prices fall at top end of London market, as prime central areas of the capital decouple from rest of country

 Commentary:

David Newnes, Director of  Your Move estate agents, comments: This increased level of house sale completions marks a considerable – though laborious – reflection of the increased buyer activity earlier in the year since the recession zapped the energy from the market. October saw the highest level of house sales completed in a month since November 2007. In part this was driven by a better throughput of sales that had sat in the pipeline for some time, finally coming through to completion.

“On a monthly basis, house price inflation has edged up from just a 0.3% increase in September, as we see some modest growth. Recent hiccups in the market have not shaken the overall underlying stability and the average UK homeowner has seen the value of their property rise £26,500 (or 10.5%) in the past year. Average house prices across England and Wales have reached a new record for the sixteenth successive month."

Read the full index

 

 

 




November 2014 Tenant Arrears Tracker

November 12, 2014 09:57 by Your Move Press Office

 TENANTS REBUILD FINANCES AS SEVERE ARREARS RECOVER 9% IN A YEAR

·  Number of tenants severely behind on rental payments has fallen by 9% over the last twelve months

· Improvements mean an overwhelming 98.6% of private sector tenants now avoid significant rent arrears

· Progress begins to be reflected in rate of evictions, as court orders drop by 16% in latest quarter

· 65,200 UK households remain more than two months behind on rent, compared to 71,700 in Q3 2013

Overview

Tenants have rebuilt their financial position over the last year, with the total number facing serious rental arrears falling by a significant 9% over the last twelve months, according to the latest Tenant Arrears Tracker by Your Move which is part of LSL Property Services PLC.

In absolute terms, those more than two months behind on their rent now number just 65,200.  This compares to 71,700 tenants at least two months in arrears in the same period last year, or an annual improvement of 6,500 households who no longer face the potential threat of losing their home.

Commentary 

David Newnes, Director of  Your Move, comments: “The private rented sector has mustered enough new capacity to meet, in part, the growing demand for affordable housing, through the greatest economic depression in modern times. This isn’t just about those relatively prosperous households forced to put ownership plans temporarily on hold.  For many thousands of others, with far tougher monthly budgets, private tenancies have also provided a lifeline.  For many renting is now their chosen route as it provides flexibility and mobility.

“Gradual rent rises, on a par with inflation, have helped. But now a bigger turnaround appears to have happened.  For many years more momentary cases of rent arrears have been in decline, yet it’s only recently that the most serious cases – where families could actually lose their homes – are following suit.

 “One explanation is the improving jobs market, with the improvement in unemployment constantly outperforming expectations.  Wages would however need to rise faster for most households to feel the full effects of economic recovery.  Reduced unemployment levels would seem to be far more beneficial for those households who are struggling the most.”  

 Read the full tracker

 

 

 

 




Autumn Gardening Advice

November 5, 2014 10:27 by YOUR MOVE

As the darker nights are drawing closer, there is still plenty of time to enjoy your garden. Autumn can be a wonderful season in the garden and we still get some lovely sunny days in order to finish off the last few jobs before the frost sets in.

With temperatures dropping, so are the leaves, as trees descend into a winter dormancy state. This brings us to one of the first jobs you should be starting during Autumn, raking and collecting all the leaves that have already fallen.

Whilst there is still time to enjoy your garden, how about tackling some of the jobs listed below to ensure you garden springs into life in the New Year!

Gardening jobs to do during Autumn...

1.Make leaf mould, clear up any leaves in your garden, place them in a bin liner, tie the top and put a hole in the bottom and sides to let air circulate. You may on occasion need to moisten the leaves if they become too dry. After twelve months, this can then be used to mulch your garden

2.Mow your lawn. This is possibly your last chance to mow your lawns and trim the hedges before it gets too wet

3.Spring clean your greenhouse, sweep out plant debris and disinfect shelves

4.Begin to move plants that may be affected by the cold into your greenhouse or indoors away from direct heat such as radiators. Also, empty any decorative plant pots that you have outside and aren’t frost proof and store them away in your greenhouse or garage

5.Prune shrubs, removing any dead or diseased branches

6.Maintain your gardening equipment, decide if your lawn mower needs servicing ready for spring, sharpen shears, wash tools and dry thoroughly to prevent rust 

7.Collect and store any seeds from plants in your garden ready for sewing next year

8.Harvest conkers and place them on your windowsills to ward off spiders

9.Help wild birds. If you can, feed twice daily and put out (high fat) bird food to help them survive the frosty nights

10.Put a net over your pond to stop autumn leaves falling in and fasten with rocks or bricks




Here are a few reasons why we are trusted by 31,000 Landlords

October 29, 2014 10:27 by YOUR MOVE

I am happy to recommend the services of all the staff at YOUR MOVE in Elgin, in particular Phyllis Cambell, Kerry and Gareth. They helped me through the daunting task of letting out my four flats in Elgin and although I wasn't completely organised, they were a calming and supportive influence and made it all look so easy. 

They also advised me in putting up my house for sale, whilst at the same time keeping an eye open for prospective tenants as I was undecided whether I wanted to sell or rent. In the end I chose to rent with tenants they found on my behalf. At the same time they are still quietly marketing my property for sale so I don't lose out if the tenants leave after six months.

I was supported by their very positive attitude and their willingness to go the extra mile by doing things such as chasing after a potential client who had walked away from a closed sign on their door as it was after hours, and who ended up being perfect tenants for my house. They also filled in forms that I was supposed to fill in and just let me check them before signing. Overall, they took care, respected my wishes, showed patience and put a lot of effort into helping me at a time that was very demanding and stressful for me.

I trust that other customers will have as good an experience as I did if they use their services.

Jane B

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Just felt the urge to say a few words about how impressed and grateful I am about being looked after so well by you and your team.

It has truly been a breath of fresh air, ever since having switched to YOUR MOVE some 3 months ago.

Although it’s still early days, the difference is like day and night!

I cannot believe the endless suffering and disappointment I had put up with, for the last 8 years, being with 2 different local and reputable agents in Exeter, both had a really good name but never delivered anywhere close to what I am experiencing now.

I could have saved myself a lot of nerves and money and time and effort.........I wish I had known about YOUR MOVE years ago!

It’s like having a five star hotel service now, compared to a previous one/two star level.

The entire team is very helpful at YOUR MOVE and really knowledgeable and always friendly and efficient, BUT you as the lettings manager for YOUR MOVE EXETER deserve a super special praise.

You are a real gem, from the first day I spoke to you over the phone to meeting you in person some weeks later, and being in touch via e mail almost every day, you have been consistently living up to the first impression I got from you.

Just super kind and knowledgeable and sunny and calming and soothing to my nerves and efficient above all.

You are truly dedicated to your job and don’t treat it just like a 9 - 5 job, you seem to treat it, as if it was your own business.. You are very knowledgeable and efficient but also very reassuring and calming when things don’t go as planned, and we had many of those in the last few months.

Because my last Agent closed down, his business affairs where all over the place and hence my 3 luxury town houses were badly affected by the lenient and often non-existent management approach.......... and so we had to overcome many obstacles in the last 3 months, from incorrect statements and contract inaccuracies and even double bookings on one house to payment issues and inventories missing and worst of all, no house inspections had been carried out which had left some of my houses in really bad shape.

All this was put in your lap all of a sudden...and I was certainly not the only landlord, who suddenly needed your attention and help and care and input.

I don’t know how you managed all of this, and where still smiling and doing everything under the sun to help us all out in times of extreme turmoil.

To top it all up, my houses are student lets, which is a bit trickier than normal lets, and they all had a change of tenants this Summer , so it was more than a busy time for my houses and hence for you.

You dealt with it all, in such an efficient and calm manner, I don’t know where your strength comes from. But also you are very accurate and don’t overlook even the smallest of details, very thorough and precise.

It is so reassuring to know that I am in safe and caring hands now and that you are supported by a great team...... but even a great support team can be useless, unless the person in charge of it all deals with any issues in a knowledgeable and speedy manner, which is what you do.

I used to write e mail after e mail to my old agents and only weeks!!! later I used to get a reply. Now I feel like my calls and e mails are being hear and replied to without fail, and if not instantly then either the next day or as so often, even after office hours.

So I am really over the moon and truly wish I had been told about YOUR MOVE and all its benefits, but above all, I am considering myself lucky to have you, Kim, as my lettings manager and I hope you will be there for me for years to come. You are a real gem and you have reinstated my faith, that there are good letting agents out there, if only one knows about them.

Many thanks for all you do for me and my 3 luxury town houses

Solveig B

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I am writing to thank you for your outstanding service with regard to finding me a tenant for my Alphington flat. I have also found your colleagues, Greg and Kim, very helpful and it is clear that you work well with them as part of a team. I have been especially impressed by the consistently cheerful, can do attitude of you and your colleagues; the speed and efficiency with which you found me a tenant and installed him; and the fact that you have gone above and beyond the usual contractual arrangements in providing a service to me.

I contacted Kim less than two weeks ago about marketing my flat and she assessed it immediately on her way into work. She then promptly arranged for various trades people to conduct necessary maintenance work. It was only a matter of days later that Greg contacted me to say that he had shown a person round who wanted to take it. The referencing was completed speedily and a move in date was set less than 2 weeks after I made the original call to Kim.

I appreciate Antonia's very professional and accommodating manner in relation to finding a contract that was right for both myself and the tenant. She also handled last minute hiccups very calmly, such as key handover and no electricity at my flat! I felt that nothing was too much to ask and I would certainly recommend Your Move Exeter Lettings to other people.

I hope to continue working with you in the future. I was very sceptical about using an agency as I have had many bad experiences in the past, although not with Your Move. You have changed my attitude towards letting agencies and I feel able to trust Your Move for further services.

Fiona D

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This feedback is to all those customers that feel a bit apprehensive and don't know what to expect from Your Move (Hitchin).

I was a first time buyer for an investment (buy to let) property and was in the market to let my property.  I was overwhelmed by the amount of lettings agents in my area, which made it harder to find a really good lettings agents that would look after me.  I had walked into a quite a lot of lettings agents until I came across Your Move (Hitchin).  When I initially met Lianne in the office to gather information about the services that Your Move provided, I found her to be very honest, personable and unique compared to the other consultants I had met at other agents.  I felt that I could trust Your Move to find me a really good tenant.

During the process of finding me a tenant Your Move were able to work around my busy work schedule and communicated to me every single detail in their search, which made me feel comfortable.  Whilst on viewing appointments I had met Peter from the Hitchin branch.  I found Peter to be very natural and professional at conducting viewings.  Peter and Lianne were able to accommodate my needs in terms of having viewings only when I (Landlord) was present and only to have viewings after 6pm.

I thought that I wasn't going to get many viewings due to the late times however on the contrary Lianne and Peter lined up a plethora of high quality potential tenants.  I also realised later that Lianne and Peter had both worked overtime due to my strict timing criteria, however both were very able to accommodate me and both were very professional even so late in the day.

I would also like to thank Rob for taking some fantastic pictures of my property, which helped the process massively.

Thanks to the hard work from Your Move (Hitchin) I have now got really good long term tenants in my property and am very happy with the outcome.  I thought the process of finding a tenant was going to be very hard and stressful however Your Move made this so easy for me.  I will definitely come back to Your Move (Hitchin) again and would recommend anyone that is looking for a great lettings agent, without a doubt!

Jugjeet M




October 2014 - First Time Buyer Tracker

October 24, 2014 15:39 by Your Move Press Office

First-time buyer sales climb 11% despite wider market slowdown

  • September sees 25,800 first-time buyer completions – up 11% compared to 23,200 a year ago
  • Average first-time buyer deposit falls 8% year-on-year to £26,134, despite purchase prices rising
  • Average first-time buyer deposit now represents 67.6% of annual first-time buyer income – down 12 percentage points year-on-year
 
      Overview

The number of first-time buyer house completions in the UK increased year-on-year in September, defying trends of a slowdown in the market, according to the latest First Time Buyer Tracker from Your Move.

There were 25,800 first-time buyer completions in September 2014, 11% more than 23,200 a year ago. New buyers are also paying more for their first home. The average first-time buyer purchase price rose 3% over the same period to £150,950, the fourth consecutive month in which average purchase prices have topped £150,000.

Despite purchase prices rising, the average first-time buyer deposit fell 8% year-on-year from £28,498 twelve months ago to £26,134 in September 2014 – as Help to Buy made higher LTV lending more accessible for borrowers.

Commentary

David Newnes, Director of estate agents Your Move, comments: “Help to Buy has helped keep the blood pumping in the first-time buyer market over the last year, allowing borrowers struggling to save for a deposit the financial life support they need to purchase property.

At the same time, MMR regulations have performed a health check on their finances, ensuring they will be able to withstand a future base rate rise. Lenders have increased the range of higher LTV options available to borrowers, allowing the average first-time buyer deposit to fall even as purchase prices increase.

“But the sands are shifting in the first-time buyer market. Loan-to-income caps announced in June have added further restrictions for lenders to factor in, on top of the tranche of regulations implemented in April. The effect is that lending is tied to wages much more tightly than in the past. Borrowers increasingly have to prove their financial resilience to access the higher LTV deals available. There is more lending, but at the same time it is more responsible and sustainable.

 Read the full index

 



YOUR MOVE Blog

YOUR MOVE is a multi-award winning estate and letting agent with branches across England and Scotland

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