Friday, 5 March 2021

Plan and Prepare: Your Moving Home Checklist Courtesy of Hamlet Homes Warrington

 

Moving home! The very thought of it is probably enough to send shivers down your spine and cause you to break out in a cold sweat, and this is unsurprising as moving home is right up there with divorce and death when it comes to heightened stress levels!

The fact is though, that any kind of ‘change’ creates stress and whether you are moving home within Warrington or relocating from further afield, plenty of planning and preparation will be required.

Moving home, and especially relocating to a new town or city, represents one of the biggest changes you may make in your life and so naturally brings a great deal of stress along with it. This in turn can lead to a double whammy, as stress can often lead to a lack of energy and motivation. So how are you expected to plan and prepare for your home move during one of the most stressful periods in your life?

Stay focused!
When preparing to move home there will be an element of multi-tasking required as there are such a lot of elements vying for your attention which need to be done. At Hamlet Homes Warrington we understand this and genuinely want your move to run super smoothly, so with this in mind, we have compiled a handy moving home checklist to help you remain stress free.

At first glance, some of our suggestions may appear to be common sense, but you will be surprised at just how often the simplest of tasks is overlooked or forgotten when the dreaded stress strikes!

Moving home calls not only for exceptional organisational skills, but also proactivity. Grabbing the bull by the horns and completing certain chores well in advance of their deadlines will go a long way to helping you stay ahead of schedule, so the aim of this home moving checklist is to help you accomplish that by concentrating on the basics of planning and preparation.

Get rid of everything you don’t need

One thing you can accomplish efficiently is to sort through all of your ‘stuff’ and get rid of the things you don’t need. Moving unwanted items from your current property to your new property is a great waste of time and effort, so don’t do it! It’s surprising how much more in control you will feel once you start narrowing down your inventory. Getting rid of unwanted items can be done through a car boot sale, selling on eBay or donating to charity.

File important papers and documents together
Since moving home is hectic to say the least, you need to be aware of the exact location of all your important items. These are the things that you absolutely must not misplace and should be hand carried on moving day, not placed in a box for the removal company to transport.

Make sure all of the following paper items are kept together in one secure place such as a document wallet:
  • Address Books
  • Birth Certificates
  • Passports
  • Bank Statements
  • Insurance Policies
  • Marriage Certificates
  • Credit Cards and Statements
  • Medical and Dental Records
  • Irreplaceable Memorabilia
  • Photos and Photo Albums
  • Vehicle Documents
  • Pet and Vet Documentation
  • Wills
  • Any other important or legal documents

Prepare well in advance for the move to your new location

There are many things you can organise before you reach your new home that will help smooth out the bumps of the moving process. In particular, make sure you contact utility companies and arrange for your new services to be connected. These can include:
  • Cable TV
  • Gas
  • Electricity
  • Water
  • Oil
  • Telephone
  • Internet access
Contact your insurance companies too as you will need to have your policies amended ready for moving day:
  • Car insurance
  • Home & Building Insurance

Prepare change of address forms for all of your correspondents:
  • Credit card companies
  • Banks
  • Vets
  • Kennels/Cattery
  • Insurance companies
  • DVLA
  • Magazines and other subscriptions
  • Family and friends
Register for new medical providers such as a new doctor and dentist if necessary.

Keep a ‘little black book’
Keep all your important phone numbers written clearly and legibly in a diary or notebook, for both your old and new contacts. This should include banks, doctors, emergency contacts, family members, friends, estate agents, removal companies, pharmacies, schools, storage facilities and utilities.

With proper planning and preparation, the whole moving process will be smooth, and you won’t frantically be searching for a new doctor, pharmacy or important information at the eleventh hour.

With proper planning and preparation, you will have your important documents at the tips of your fingers at all times and you will endure minimum chaos and clutter.

Keep this handy moving checklist safe and get organised or for more home moving planning and preparation advice, drop in and talk to the expert team at Hamlet Homes Warrington or telephone us on 01925 235 338 and we will be happy to ensure your home move runs smoothly.

If you are looking for an agent that is well established, professional and communicative, whether you’re buying, selling or looking for an investment opportunity, then contact us to find out how we can get the best out of the Warrington property market.

Email me on manoj@hamletwarrington.co.uk or call on 01925 235 338 – we are based on the Warrington Business Park, Long Lane, WA2 8TX. There is plenty of free parking and the kettle is always on.

Don't forget to visit the links below to view back dated deals and Warrington Property News.

CLICK HERE TO FIND OUT HOW MUCH YOUR WARRINGTON HOME IS WORTH FOR FREE
Hamlet Homes Warrington, your local Estate Agent
Follow my Warrington Property Market Blog
Hamlet Homes Warrington LinkedIn Page
Hamlet Homes Estate Agents Warrington Facebook Page
Hamlet Homes Estate Agents Warrington Twitter Page

Wednesday, 3 March 2021

Lifeline for Warrington House Buyers & Warrington First-time Buyers


In the last few hours, the Chancellor of the Exchequer, Rishi Sunak, has stated the Stamp Duty Holiday for Warrington properties up to £500,000 will be extended from 31st March 2021 to the 30th June 2021; and to ensure we don’t have a cliff edge, from 1st July 2021, the Stamp Duty Holiday will apply only on properties up to £250,000 until the end of 30th September 2021.

From the 1st October 2021 Stamp Duty thresholds and levels will return to pre-pandemic levels.

To help Warrington first-time buyers, the Chancellor confirmed that there will be Government guaranteed 95% mortgages available from April, on the purchase of properties up to the value of £600,000. This means Warrington first times buyers will be able to buy their first home with just a 5% deposit.

Warrington Landlords will also be pleased there was no statement on Capital Gains Tax, although this will have to be addressed in the years to come.

Warrington tenants, those hardest hit with unemployment and job uncertainty, will also be pleased to hear that the Furlough Scheme will be extended to the 30th September 2021.

It is my intention to publish a greater in-depth article early/mid next week to discuss these topics and what it actually means at a more granular level for Warrington homeowners, property buyers, tenants and Warrington landlords.


If you would like a chat about the Warrington property market - don’t hesitate to give me a call.


Don't forget to visit the links below to view back dated deals and Warrington Property News.
CLICK HERE TO FIND OUT HOW MUCH YOUR WARRINGTON HOME IS WORTH FOR FREE
Hamlet Homes Warrington, your local Estate Agent
Follow my Warrington Property Market Blog
Hamlet Homes Warrington LinkedIn Page
Hamlet Homes Estate Agents Warrington Facebook Page
Hamlet Homes Estate Agents Warrington Twitter Page


Tuesday, 2 March 2021

Warrington Pensioner Homeowners are Now Worth £840.4M



How wealth is distributed will always be a contentious issue, especially as the Baby Boomers (those aged between their late 50’s and late 70’s) wealth has grown exponentially over the last 20 years, compared to the wealth of the younger generation.

With most UK property in the hands of the older generation, with its total value about to smash through the £8 trillion barrier (up from £3 trillion at the start of the Millennium), is it right that so much wealth is concentrated in the hands of the older generations?

As national house prices have continued to grow unabated (for example in the last eight years by 49.9%, whilst real take home pay has only increased by 11.8%), this has meant younger people are finding it even harder to get onto the property ladder and those already on it to move up it.

Looking at the older end of the age range for home ownership…

of the 70,510 homes in Warrington, 16,854 households are 65 years or older, and 76.9% of those households (12,967) are owned (mostly without a mortgage)

A full split as follows …
  • Owned 76.9%
  • Council House 17.7%
  • Privately Rented 2.7%
  • Living Rent Free 1.7%
  • Shared Ownership 0.9%

I talk with many Warrington pensioners who want to move yet are unable to. There appears to be a shortage of suitable properties in Warrington for members of the older generation to downsize into. Due to their high demand and low supply, Warrington bungalows and suitable ground floor apartments achieve on average a 15% to 25% premium per square foot over two/three storey properties. Yet would it surprise you only 1% of new builds in the UK are single storey bungalows (compared to 7% 25 years ago)?

Warrington pensioner homeowners are now worth £4.46bn

YouGov did a survey a couple of years ago and they found that just over one third of homeowning pensioners in the UK were looking to downsize into a smaller property. As I have stated before, as a nation, we need to rethink how we can encourage older homeowners to sell their larger homes to release them to the younger families that desperately need them.

The Government over the last 11 years have appeared to target all their attention on first-time buyers with a strategy such as the Help to Buy Scheme. However, this doesn’t address the long-established under-supply of appropriate retirement housing vital to the needs of Warrington’s quickly ageing population. Unfortunately, Warrington’s housing stock is sadly ill-equipped for this demographic shift to the ageing homeowners.

Also, to add insult to injury, those more mature Warrington pensioners in their 80’s and 90’s who do live in the restricted number of Warrington bungalows and suitable ground floor apartments are finding it difficult to live on their own, as they are unable to leave their bungalow/apartment because of a shortage of sheltered housing and ‘inexpensive’ care home places.

This in turn means the younger 60 to 70 year old Warrington retirees (in their bigger two/three storey family houses) can't buy those Warrington bungalows (occupied by the older retirees), which means those Warrington families in their 30’s and 40’s can't buy those larger family houses (occupied by the younger 60 to 70 year old retirees) they need for their growing families ... it’s like everyone is waiting for everyone because of the logjam at the top of the property ladder.

So, what is the solution? Quite simple – build more homes! 

In the last 30 years, the UK population has grown by around 12 million people, yet the number of properties has only grown by around 4.2 million

With obstructive planning regulations, immigration, people living longer and increased divorce rates (meaning one family becomes two) we have needed 275,000 properties to be built a year since the Millennium to just stand still and meet demand. Twenty years ago, the UK was building on average 185,000 households a year, that figure dropped in the five years after the Global Financial Crisis in 2008 to 140,000 households a year. Thankfully that has increased steadily over the last five years and last year we created 245,000 households in the UK, however, we still have all those years since the Millennium to make up for.

The answer is to build on more land for starter homes, bungalows and sheltered accommodation, because land prices are holding back the property market as the larger national building firms are more inclined to focus on traditional two and three storey houses and apartments than bungalows (because they make more money from them). You might say there is no land to build the property on, yet…

only 1.2% of the UK is built on with residential properties

So how could Warrington people make money on this news? Shrewd Warrington property investors should consider purchasing bungalows, especially ones that need some titivating (possibly after somebody has passed away). Bungalows purchased at the right price and location are a great gamble for flipping. They should also be considered for renting out as demand will only outstrip supply. This would be a start to the solution of rebalancing the Warrington property market so everyone is happier with their lot.


If you would like a chat about the Warrington property market - don’t hesitate to give me a call.


Don't forget to visit the links below to view back dated deals and Warrington Property News.
CLICK HERE TO FIND OUT HOW MUCH YOUR WARRINGTON HOME IS WORTH FOR FREE
Hamlet Homes Warrington, your local Estate Agent
Follow my Warrington Property Market Blog
Hamlet Homes Warrington LinkedIn Page
Hamlet Homes Estate Agents Warrington Facebook Page
Hamlet Homes Estate Agents Warrington Twitter Page

Friday, 19 February 2021

COVID -19: An Update for Warrington Buyers and Sellers From Hamlet Homes Warrington



We are delighted that Hamlet Homes Warrington are able to remain open for market appraisals and viewings, however, we realise that we also have a social responsibility beyond that of being your local estate agent and recognise that as a buyer or seller, you will have concerns given the current situation with COVID-19.

We want to reassure you that the team at Hamlet Homes Warrington will be following the Government’s health and safety guidelines thoroughly and ultimately will always ensure the wellbeing of our clients, our team, and our community comes first.

At the time of writing, it has been announced that restrictions around property viewings and transactions remain as per guidance given earlier this year. However, COVID-19 has not gone away and as yet there is no vaccine, so we will be carrying out our business in an extremely safe and highly-managed way to ensure our clients and staff are protected at all times.

Viewings
We are regularly reviewing updates on viewing guidelines from the Housing Minister, and will always ensure these guidelines are followed to the letter. Currently we will be adhering to the following:

Social distancing (2 metres) will be observed at all times. Our staff may remain outside the property whilst the viewing takes place.

If you would prefer to view a property virtually – we do offer this option.

Viewing Limits: All viewings will be limited to either one viewing per property per day OR viewings will be scheduled apart, for example, with a delay between each viewing.

Time Limits: The time viewers spend inside a property will be limited to an absolute maximum of 30 minutes.

Viewing Numbers: We will allow a maximum of two people inside a property along with the owner or member of our team.

Contactless Viewings: Vendors will be asked to leave cupboards and doors open so that viewers to the property do not need to touch them. Viewers will be asked not to touch surfaces unnecessarily.

PPE: Our team members will wear gloves and masks while conducting viewings. PPE will be available for viewers if they do not bring their own.

Health Declaration: Vendors and viewers will be required to sign a declaration, stating that they do not have any COVID-19 symptoms.

Market Appraisals
There are no specific valuation guidelines but we are undertaking similar precautions to our viewings procedure.

Further information
As soon as we receive updates, we will provide further information.

Guidance for Sellers
If your property is already on the market or is shortly coming to market, please reassure potential buyers by making sure your home is clean and safe to view. 

Still deciding whether now is the right time to buy or sell?
The team at Hamlet Homes Warrington will be delighted to talk you through your options. We appreciate your circumstances may have changed or might be difficult right now, but we can help you talk it through in confidence.

We want to help you make an informed decision, so please call us for an informal chat on 01925 235 338 or email us at manoj@hamletwarrington.co.uk.

Above all, please continue to stay safe.

If you are looking for an agent that is well established, professional and communicative, whether you’re buying, selling or looking for an investment opportunity, then contact us to find out how we can get the best out of the Warrington property market.

Email me on manoj@hamletwarrington.co.uk or call on 01925 235 338 – we are based on the Warrington Business Park, Long Lane, WA2 8TX. There is plenty of free parking and the kettle is always on.

Don't forget to visit the links below to view back dated deals and Warrington Property News.

CLICK HERE TO FIND OUT HOW MUCH YOUR WARRINGTON HOME IS WORTH FOR FREE
Hamlet Homes Warrington, your local Estate Agent
Follow my Warrington Property Market Blog
Hamlet Homes Warrington LinkedIn Page
Hamlet Homes Estate Agents Warrington Facebook Page
Hamlet Homes Estate Agents Warrington Twitter Page


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Half of Warrington Homeowners Move Again Within 5 Years and 39 Weeks – Why?

 


CLICK HERE TO FIND OUT HOW MUCH YOUR WARRINGTON HOME IS WORTH FOR FREE

In Britain, there are 27,071,500 households, of which 17,044,450 are owned and are worth a total of £3,925,865,212,950 (£3.92 trillion). Over the last 5 years, an average of 86,096 properties sell each month, meaning just over a million UK households move home per year. Therefore, the average British homeowner moves every 16 years 5 months.

These statistics refute a common hypothesis that British neighbourhoods are becoming more fleeting and transitory. On the face of it, they appear to show that, once you have succeeded to buy a property you can call home, there isn’t much motivation to move again.

So, aren’t people moving home so much?

Could it be put down to a certain sense of complacency or apathy to moving home? Whereas we might love our home in Warrington, most of you (including myself) still want to ‘better our lives’ with a bigger house, better area etc, which typically requires us to climb up the Warrington property ladder.

Yet with Warrington house prices having risen by 180.1% in the last 20 years, the cost of going up the next rung on the Warrington property ladder is prohibitive.

Everyone harks back to the 1980’s, when we had an upbeat booming property market as a backcloth, Brits moved home every eight years; so now with the average at just over 16 years this equates to each British homeowner moving around three to four times in their adult lifetime. Maybe we should all call our homes ‘Dunroamin’ and be done with it!

Or does it?

We have all heard the phrase ‘lies, damn lies and statistics’ … well the stats mentioned above hide some amazing features of the British property market. When homeowners get into their 50’s and 60’s, their tendency to move home drops like a stone. The average length of time a homeowner without a mortgage moves home is 24 years and 7 months (and just under 7 out of ten outright homeowners i.e. without a mortgage are 65 years old or older).

Yet, homeowners with a mortgage move on average every
10 years and 11 weeks.

So, whilst I cannot determine who has a mortgage and who doesn’t, I can look at how quickly people move home in Warrington. I have looked at the last 50 property sales in Warrington, and I have found some interesting findings.

On average Warrington homeowners only move every
12 years and 3 weeks.

Nothing interesting about that you might say, when compared to the national average ... yet the devil is in the detail.

There appears to be a two speed Warrington property market … look at the top 25% of Warrington home movers, and then the next slice … these Warrington people are moving home really quickly, yet the gap for the next two slices widens tremendously.
  • Top 25% quickest Warrington home movers move every 3 years & 26 weeks
  • The next 25% quickest Warrington home movers move every 7 years & 44 weeks
  • The next 25% quickest Warrington home movers move every 12 years & 13 weeks
  • Whilst top 25% slowest Warrington home movers only move every 24 years
When looking at the properties that fall into the later bands (i.e. the ones that don’t move/sell so often), they tend to be the larger properties where the homeowners have lived for 25/30 years plus.

The lesson we all should learn is that once people get into their 50’s and 60’s, their propensity to move home drops considerably. This means the properties on the lower rungs of the Warrington property ladder do appear to sell quickly (as they are occupied by younger homeowners) yet once Warrington people get older, their tendency to move diminishes. This puts a roadblock on the younger generation wanting to buy the larger Warrington properties these mature homeowners live in.

What is holding the older generation back from selling and downsizing to free up homes for families that desperately need them? Some of it will be apathy, some of it will be holding on to the home that they brought their family up in, yet the bottom line is …

46.5% of the homes owned in Britain have
two or more spare bedrooms.

As a nation, we need to rethink how we can encourage older homeowners to sell their large homes to release them to the younger families that desperately need them. Some suggest tax breaks, yet the Government won’t be in the mood to give huge tax breaks as the measures to protect the economy over the last 12 months will ultimately need to be paid back.

One thing I do know, we as a Country have seen (and will continue to see) a lot of demographic change together with an increasing elderly population, so it’s not just about how many homes we build, but whether we are building the right kind of homes the older generation will want to move into.

Interesting times ahead for the Warrington property market!

If you have a Warrington property to sell or let in the coming weeks, months or years and would like to know how this and other factors will affect you and your property ... without obligation, don’t hesitate to give me a call or drop me line.

If you are looking for an agent that is well established, professional and communicative, whether you’re buying, selling or looking for an investment opportunity, then contact us to find out how we can get the best out of the Warrington property market.

Email me on manoj@hamletwarrington.co.uk or call on 01925 235 338 – we are based on the Warrington Business Park, Long Lane, WA2 8TX. There is plenty of free parking and the kettle is always on.

Don't forget to visit the links below to view back dated deals and Warrington Property News.


CLICK HERE TO FIND OUT HOW MUCH YOUR WARRINGTON HOME IS WORTH FOR FREE
Hamlet Homes Warrington, your local Estate Agent 

Friday, 12 February 2021

How to Move Home in Warrington Stress Free

 

According to a recent survey, 60%* of Brits have put off looking for a new home purely because of the pressures involved with the moving process.

Furthermore, 34% said that they had suffered severe anxiety as a result of their last move and 65% experienced sleeping problems.

However, it doesn’t have to be such a terrible ordeal.

Moving home in Warrington should, and can, be an exciting time. A chance to start afresh, seek out new opportunities and make your new property your own.

Research removal companies

You are going to be moving all your worldly possessions from your old home to your new one, so you need to make sure that they are in safe hands. Therefore, it is vital that you spend time researching removal companies in advance to ensure you find a reputable and trustworthy company.

If possible, ask family and friends for recommendations as well as reading a variety of online reviews from previous customers. It is a good idea to choose two or three removal firms to provide you with quotations before the big day so that you achieve a competitive price and know your moving needs will be adequately catered for.

Have a thorough clear out

Now is the ideal time to get rid of any unwanted belongings, such as furniture that won’t fit or be required in your new home, any clutter that has been piling up in the back of your cupboards, and basically any items that are surplus to your needs. Don’t forget about the garden, the loft (if you have one) and any outdoor storage areas.

Make a packing plan

You may think that you can get your packing completed in a matter of days, but sadly, this exciting, yet arduous task always takes longer than you think it will! Especially if you want to pack effectively so that the unpacking process in your new home can be carried out quickly.

It is a good idea to use colour labelling on your moving boxes, for example, blue for the bathroom, yellow for the kitchen and so on. Work your way systematically through each room, including the garden, and complete the packing for that room or area before moving onto the next.

Take care of all moving admin

You will have enough to deal with on the big day without having to worry about locating paperwork, or carrying out vital administrative tasks that could have been taken care of weeks earlier.

Before moving to a new house you should:
  • Redirect your post – you can sign up to Royal Mail’s redirection service if you need more time to contact all your providers.
  • Transfer school records. If you have children that will be attending a new school, you should ensure their school records are sent over before you move.
  • Ensure you are insured for moving. Check to see if your belongings insurance covers a house move and if not, ask your removal company if they can provide further cover.
  • Inform your utility companies about your move, including your home insurance providers. You should also take the gas, electricity and water meter readings before you leave your property.
  • Confirm your moving day. This may seem an obvious task, but you will be surprised by how many people forget to do this.
  • You also need to ensure that you have details regarding the collection of keys to your new property from your estate agent.
Source a survival kit

If you want to have a smooth and stress-free journey from your old home to your new one, then you will need a moving day survival kit. This should include supplies that you will need throughout the day, so you do not need to go rummaging through your packed boxes.

Items you may want to include are:
  • Important documents such as information relating to your new home, contact details of your removal company, and any relevant insurance documents
  • Mobile phone chargers
  • Bottles of water and snacks
  • Games or devices to keep the kids occupied
  • Pet feeding bowls, food, toys and lead
  • Tea, coffee and a kettle
  • Loo roll!
It is also recommended that you pack a basic overnight bag so that you will have access to clean clothes, toiletries, medications, and snacks for the next morning.

Your survival kit will ensure you are organised on moving day and ready to start unpacking boxes in your new home stress free!

For further advice and for help with a stress free move in Warrington, contact the friendly team at Hamlet Homes Warrington on 01925 235 338. We look forward to assisting you.

If you are looking for an agent that is well established, professional and communicative, whether you’re buying, selling or looking for an investment opportunity, then contact us to find out how we can get the best out of the Warrington property market.

Email me on manoj@hamletwarrington.co.uk or call on 01925 235 338 – we are based on the Warrington Business Park, Long Lane, WA2 8TX. There is plenty of free parking and the kettle is always on.

Don't forget to visit the links below to view back dated deals and Warrington Property News.

CLICK HERE TO FIND OUT HOW MUCH YOUR WARRINGTON HOME IS WORTH FOR FREE
Hamlet Homes Warrington, your local Estate Agent
Follow my Warrington Property Market Blog
Hamlet Homes Warrington LinkedIn Page
Hamlet Homes Estate Agents Warrington Facebook Page
Hamlet Homes Estate Agents Warrington Twitter Page

Thursday, 11 February 2021

The Busiest December for the Warrington Housing Market Since 2006




Over the last six months, the Warrington Property Market has been flourishing. As soon as an estate agents “For Sale” flag went up, neighbours would be checking out Rightmove to see the internal pictures and compare the asking price to their own home (go on ... admit you do that too – every Warrington homeowner does). Flabbergasted by optimistic asking price tags, those same Warrington homeowners stand open-mouthed to see a sold slip added to the board a few weeks later.

Property values in Warrington are 7.5 per cent higher than a year ago.

The newspapers are full of stories of this mini property market boom, which has been fuelled by the Stamp Duty Tax cut, which ends on the 31st March 2021. Not only has it pushed up values in Warrington, but it has also theoretically brought forward house moves from 2021 into 2020.

The most up-to-date transaction figures (i.e. the number of people moving home) endorse it too. In the UK, 137,200 property sales/transactions took place in December, the highest number of sales/transactions in December since 2006 (when it topped 149,200 transactions, only for it to fall to 32,700 transactions in December 2008 at the height of the Credit Crunch).



The exact figures from the Land Registry for Warrington won’t be available for another six weeks or so, yet in December 2019, 384 properties changed hands in Warrington. Looking at anecdotal evidence of for sale board changes, my database and the portals, I believe we will end up around 505 to 535 Warrington property sales/transactions for December 2020.

So, how does all this compare to other years?

The number of UK transactions continued to be relatively stable between November 2019 and March 2020. That decreased by around half in April/May 2020 compared to April/May 2019, triggered by economic impacts relating to the public health restrictions introduced. Since the first lockdown was lifted in the late spring, sales/transactions have increased steadily upwards each month, mirroring the relaxing public health restrictions for the property market during the summer and autumn of 2020 and introducing Stamp Duty Tax holidays.

Before we all get the Champagne corks flowing, what the December national figures (and the corresponding provisional Warrington stats) don’t tell us, is that April to December 2020 transactions ended the year 13.7 per cent down compared to April to December 2019 transactions — the lowest since 2012. Don’t get me wrong, 13.7 per cent is impressive given that we are in the middle of a recession and even more remarkable considering there was a 48.7 per cent fall in transactions in 2008 (compared to 2007) when the Credit Crunch hit.

The biggest question though is, how much of the urgency since the summer to buy property can be credited to:
  • existing pent-up demand that built up in 2018/9 and was starting to be released in the ‘Boris Bounce’ in January/February 2020
  • new demand from home workers looking for bigger properties
  • people moving out of the big city centres
  • the Stamp Duty Tax cut
— or a mixture of all four?

Nobody can categorically know whether the UK property market would have ricocheted as quickly without the Stamp Duty Tax cut.

Talking to many buyers, sellers, agents and solicitors in the Warrington property market over the last three or four months, the anecdotal evidence I have collated from those people seems to imply that the outbreak of activity in the Warrington property market has mainly been put down to the lifestyle factors (bigger house with office space etc.) and pent-up demand, meaning the Stamp Duty Tax Holiday is seen as the icing on the cake for most people. Yet, there will be some buyers, whose motivation has been purely to save money on the tax duty. Overall though, in the vast majority of house purchases, this allows us to be reasonably hopeful about what will happen once the Stamp Duty Tax Holiday is withdrawn on the 31st March.

However, some newspapers are preaching a story that the property market will collapse without a Stamp Duty Tax Holiday extension. Nobody can argue that a phased withdrawal from the Stamp Duty Tax Holiday would be better than some homebuyer’s sales falling through, when the tax holiday finishes in late March. Even if your motivation isn’t to save money on the tax holiday, it could be the motivation of a buyer in your chain – meaning it becomes your issue. Nobody knew in July, when the tax holiday was announced, that we would get another two national lockdowns with the inevitable delays from remote working by solicitors, mortgage providers and local authority search departments. My advice to all people currently sold subject to contract is to ask the question, “What if we don’t complete the sale by the end of March?”. Better to sort it now than have a nasty surprise in the last week of March.

All property taxation is long overdue for reform, from Stamp Duty to Council Tax. When Margaret Thatcher tried to change local Rates to Poll Tax in the late 1980’s, those who are old enough can remember the Poll Tax riots, hence the nervousness of any party since to make any changes. There is no way the Government will abolish Stamp Duty when it raises between £11bn to £13bn a year, yet with all the upheaval we have experienced in the last year, there could be an appetite to change the way property is taxed.

The Government has already spent £271bn on interventions due to the pandemic and needs every penny so that it can start to repay those debts over the coming decades.

I have a feeling most Warrington property buyers and sellers would compromise on the price they pay for their next home to cover the cost of the Stamp Duty Tax after April, rather than lose the chance of owning the forever home they longed for during the first lockdown.

Therefore, don't be alarmed when we see property values ease slightly in Q3 2021 when the price paid for property reflects the lower price to account for the Stamp Duty that will need to be paid from the 1st April.

If you are a Warrington homeowner or Warrington buy to let landlord and you would like a chat about where you and your Warrington property stands in the current Warrington property market, don’t hesitate to give me a call or drop me a line.


If you are looking for an agent that is well established, professional and communicative, whether you’re buying, selling or looking for an investment opportunity, then contact us to find out how we can get the best out of the Warrington property market.

Email me on manoj@hamletwarrington.co.uk or call on 01925 235 338 – we are based on the Warrington Business Park, Long Lane, WA2 8TX. There is plenty of free parking and the kettle is always on.

Don't forget to visit the links below to view back dated deals and Warrington Property News.

CLICK HERE TO FIND OUT HOW MUCH YOUR WARRINGTON HOME IS WORTH FOR FREE

Hamlet Homes Warrington, your local Estate Agent
Follow my Warrington Property Market Blog
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