Will Warrington House Prices Fall in 2022?

One of the most astounding things that has happened in the last 12 months was something that did not happen. Even after the country saw the deepest recession since the Great Freeze of 1709, with GDP dropping 28% in one quarter, one would have expected a large fall in Warrington house prices would follow. Yet…

Warrington house prices are 14.4% higher than 12 months ago.

Even though buying and selling Warrington property was put on ice for the first time in the history of the Warrington property market last spring due to the Covid 19 outbreak, as the Warrington property market wobbled on the edge of deep recession, it stepped back in early summer and it is now rocketing upwards as…

28% of Warrington homes are selling within a fortnight of coming to market.

Some commentators have suggested the end of the Stamp Duty holiday together with the ending of the furlough scheme on the 30th September 2021 could be the catalyst for a drop in house prices. Even the Government’s own regulator of finances expects UK house prices to fall around a couple of percentage points in 2022 whilst some others have predicted around a 5% drop as unemployment levels increase post furlough.

However, other property market forecasters believe that property values in 2022 won’t drop against the background of robust British economic recovery in Q3 and Q4 of 2021.

What do I think will happen to the Warrington property market in the next 12 months?

On the positive side, what I do know is the Stamp Duty holiday enabled Warrington homebuyers to spend those tax savings on the price paid for their Warrington home and that certainly accounts for some of the uplift in house prices mentioned above.



Also, the historically low interest rates that have supported Warrington homebuyers’ affordability for the last 13 years since the Credit Crunch has continued. Secondly, with people spending many months working from home, this has seemed to have polarised people’s inclination to make lifestyle changes. Finally, the Government has recently introduced 5% deposit mortgages for first-time buyers. All these factors will fuel demand and hence may cause house prices to rise.

On a more cautious note, I do not believe these very sturdy Warrington house value rises of the past year will persist at these levels for the next 12 months. With buyers having to use many thousands of pounds on the Stamp Duty payment, the price they pay for their Warrington home will be curtailed, meaning property values by definition will ease.

The simple fact is the British economy has yet to feel the full effect of its largest recession since 1709, and we must remain considerate about the long-term effects of the economy (and unemployment levels) on the property market.

These are interesting times for the Warrington property market. If the price you want to achieve for your Warrington home is the most important thing, now as opposed to 2022 might be a good time to consider placing your property on the market.

Don’t forget, you can still put your Warrington property on the market, find a buyer and then go and see what is available to buy. Many buyers will wait for you to find a property, yet if they can’t/won’t – you won’t be made homeless. English property law means you can still come away from the sale and you won’t be forced to sell. If you would like to know a bit more about that or any aspect of buying or selling property in Warrington, drop me a message or call me.


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

A Quick Guide to Purchasing a Buy To Let Property in Warrington

 

If you’re considering becoming a landlord, there are many elements to consider and understand before you purchase a property. The process of buying a buy-to-let property differs compared to buying a residential property that you will live in yourself, so it’s good to know what exactly to expect. Of course, it’s a long-term investment that shouldn’t be made in haste, so if you’re reading this, you are probably looking for the right kind of information.

Our team at Hamlet Homes Warrington are experts in buy-to-let advice, so here is our straight forward guide to purchasing a buy-to-let property in Warrington.

What is buy-to-let?

First things first, the basics: buy-to-let is a property that is specifically purchased with the intention to rent it out to tenants. It’s an investment property that can generate a monthly income, as long as the rent being charged is higher than the monthly buy-to-let mortgage payments.

A buy-to-let mortgage is different to a residential mortgage, and if you can’t afford to simply buy the property outright, you will need to apply for one. When applying for a standard mortgage, your income is taken into consideration, whereas with a buy-to-let loan, the lender considers the potential rental income as your primary income source, and considers your personal income as secondary. The interest rates tend to be lower, but they have larger upfront fees, so keep that in mind. Moreover, deposits on buy-to-let mortgages are also typically larger than the deposit needed for a standard mortgage, so expect to put down at least 25% more than you normally would.

What kind of buy-to-let property should you buy?

The right property is important and can include factors such as the location in proximity to amenities and transport, as well as the neighbourhood and the demand in the area. Much like when you’re searching for your own place to live, you should ensure you do adequate research into the area you want your buy-to-let property to be located in.

Consider what kind of tenant you want to target and include that in your research. If you’re trying to rent to families, your best bet is to find a property in the suburbs close to good schools. If you want to rent to students, a property near a university and good but cheap restaurants and nightlife is key. Keep in mind, the type of tenants you have renting from you can affect your mortgage, as many lenders have restrictions on student rentals, for example.

Do you need buy-to-let insurance?

The short answer is yes; you should have buy-to-let insurance (also known as landlord insurance). It gives you coverage for the building and the contents inside and any landlord liabilities.

Building insurance is often required by your mortgage lender in order to secure a loan and will compensate you if your property is destroyed or damaged. This will cover the repairs or rebuilding costs so you don’t have to pay huge expenses out of pocket.

Contents insurance will cover any furniture inside the property. It’s a smart idea to get contents insurance even if your buy-to-let property is unfurnished because you can choose what level of cover you require, and it can protect any curtains, carpets, and other furnishings that essentially come with your property between tenants. If you choose to rent your property unfurnished, your tenants will be responsible for their own contents insurance when they move in.

Landlord liability is mostly your choice, but if you’re renting to students, for example, there may be a minimum level required. This covers you for any injuries or deaths of any tenants or visitors in your property.

Do you need to use a letting agent?

This answer is dependent on the budget you’re working with and the level of involvement you wish to have with your buy-to-let property. If you want to be a very hands-on landlord, you may not want to go through a letting agent or agency, but if you would rather take a more hands-off approach, it is a good idea to enlist the help of a professional, experienced lettings agency.

Letting agents like us will help you carry out credit checks on your potential tenants, help you come up with a letting contract, chase late rental payments for you, help with any maintenance on site that needs to be done, and assist with mandatory safety and efficiency checks for gas and energy.

The fees to work with a letting agent typically include paying an ongoing fee to manage the property which varies, so it’s always best to speak with your chosen letting agent to get a complete idea of costs .

Generally, utilising the services of a letting agent can take a big burden off your shoulders if you are a budding landlord!

For professional advice on purchasing a buy-to-let property in Warrington, contact our expert team at Hamlet Homes Warrington on 01925 235 338 or email manoj@hamletwarrington.co.uk.

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

Panic Buying in the Warrington Property Market?

Would it surprise you that there are 81% fewer properties for sale today in Warrington than a decade ago? Property values are much higher than a decade ago and the property market at the moment in Warrington is on fire. In all my years as an agent, I have never seen it like it is at the moment. Many people are saying it’s reminiscent of 1988 when dual-MIRAS relief was abolished by Nigel Lawson, as people are paying top dollar for property because they are buying property like there is no tomorrow.

77.6% of properties on the market in Warrington are sold stc

In a ‘normal property market’, that figure would be between 30% to 40%. There is no rhyme or reason behind it because it’s not as if we are going to run out of property to sell (unlike the panic buying of loo rolls last year in the supermarkets). With such a buoyant Warrington property market, being adept to state what your Warrington property is worth is exceptionally problematic.

This is further exacerbated by the lower-than-average properties on the market at the moment. To give you an idea of the issue …

There are 213 properties for sale in Warrington today, compared to 1,106 a decade ago.

When there aren’t many properties on the market, to gain your instruction some estate agents will value your Warrington property by giving you an over inflated suggestion for the asking price. Why do they do that when the considered wisdom is estate agents only get paid once they sell it?

Well would it surprise you that many (not all) estate agents pay their employees a bonus to put your property on to the market and then pay a further bonus when they get you to reduce the asking price? Some estate agents know the fastest way to get your property to market is to be optimistic on the asking price to secure your property for sale, then work on you to reduce your asking price after it has been sitting on the market for a few months.

Nothing wrong with that you might say, I want to get the most for my Warrington home (and it is indeed the job of the estate agent to get the best price for their client). If I believe it is worth testing the market at a slightly higher asking price, I will suggest that, yet will always explain my thinking and if we have over cooked the asking price, we can swiftly realign it after a couple of weeks.

Yet because many estate agents are disposed to suggest over inflated asking prices to the house seller just to secure their business (i.e. overvaluing) but not manage the property for months and months ... this in turn causes Warrington properties to sit on the market and not sell.

In the best property market for 20 years, 17% of properties for sale in Warrington have been on the market for 6 months or more. Overvaluing is widespread among Warrington estate agents.

Most Warrington homeowners will ask three or four estate agents to value their Warrington home and take the middle figure when they want to sell. Yet, if all (or most) of your Warrington estate agents are over optimistic and they all give you a ‘gilded lily’ price to secure your instruction to sell your home (i.e. overvalue), then that middle figure will be too much. Most Warrington estate agents know they don’t win the business (i.e. secure the listing) if they tell the homeowner what they don’t want to hear.

So, what is the risk of overvaluing?

There is a potential massive cost to putting your Warrington home on the market at too high an asking price. Your estate agent will tell you that your Warrington home is worth a certain figure and then lock you in to a 16-week sole agency agreement (sometimes longer) which you cannot get out of early. If you are getting around two or three viewings a week, and the pictures and marketing material are half decent, then your pricing is about right, meaning in this market you should be sold (subject to contract) within a month to six weeks.

Yet, if your Warrington home has an over optimistic asking price (i.e. it is overpriced), you might only have a handful of viewings in a month and no offers. As the weeks and months go by, your overpriced Warrington home makes similar homes to yours (i.e. your competition) look really good value for money. That’s when you will get the price reduction call from the agent.

How many times have you seen a property that has been on the market a while and you have wondered what’s wrong with that? Also, to add insult to injury, the portals tell you how long a property has been on the market, adding weight to that argument.

The longer your property stays on the market, the desirability of your Warrington home drops.

You will end up selling your Warrington home but only after a handful of price reductions, yet at what cost? Firstly, in those lost months, you would have missed out on many properties that you fell in love with, yet couldn’t buy because your home was languishing on the market with no interest (this is backed up by consumer champion Which, who said that if you have to reduce your asking price by 5% or more, it adds an extra 64 days to the sales process).

Secondly, you will end up selling your Warrington property for less than if you had placed the property on the market at a realistic asking price from day one (again backed up by Which). This is because buyers think there is something wrong with it, so as the homeowner gets fed up, they accept a lower offer to get their property sold.

Finally, because you take less for your property, your choice of the next property to buy will also be curtailed, meaning your dream home move might be more of a nightmare?

The best advice I can give you is to search the portals, make sure you look at properties that are also sold stc (which can normally be found by clicking on the filter section of the search on the portal). Then ask a couple of straight-talking trusted friends to do the same and compare your property to the competition that is both on the market and sold (stc).

Compare their locations, number and size of the rooms and size of plot and ask them where they see your property against those. Carry out the same exercise yourself (of course you will be slightly biased) and take a bellwether from all those figures. Then ask a number of Warrington agents to value your property and if you feel any are being overly optimistic challenge how they get to their figure and get them to qualify their belief in that figure – is their valuation realistically achievable in the market at the time? As we all know markets change and property prices go up and down and ultimately a property is only worth what a buyer will pay for it – this all requires careful consideration.

I can assure you most of the estate agents in Warrington are decent people, who want to do the best for you. All I ask is you do your homework and look at the sale of your Warrington property through the eyes of a cold-blooded buyer.

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

Small is Beautiful: Tiny Room Ideas

 

Just because a room is small, it doesn’t mean it can’t be stylish or practical. Many people have homes that are smaller than average, or rooms that are tiny or an awkward shape, yet these spaces can soon be transformed into a comfortable, Instagrammable space.

Here are some tips when decorating or furnishing a tiny room.

Draw Up A Floor plan

Once you’re standing in the room, it can be difficult to find a way to make everything fit. One way you can design a room is to draw up a floor plan, then measure your furniture and see where it might fit. This can also help you decide what’s essential in the room and which pieces you can do without.

Find Furniture with Hidden Storage

When you furnish a tiny room, smaller pieces are always going to work better, for example, cuddle couches rather than three-piece suites. Even better, look for furniture that has hidden storage, as this will make it much easier to organise your room. Stores such as IKEA are good for finding storage solutions, and they sell bed bases with fitted wardrobes or chests of drawers. While you may not have used one since you were a child, cabin beds are also very handy in small rooms, as lifting your bed off the floor gives you plenty of extra space. Some beds open up to reveal hidden storage, which can be useful for storing spare sheets, shoes, or even books. You can also find sofa beds that include ottomans, which allow you to store your duvet and pillows during the day.

Save Your Floor Space Where Possible

The problem with tiny rooms is that you often have to go through an obstacle course to get around them. Any floor space that you can save will make the room feel more spacious and make it more practical to use. Avoid things like bookcases and big wardrobes, opting for shelves and hanging rails instead. In very small spaces, you may even want to look for solutions such as a pull down bed, which will fold into the wall when you’re not using it.

Keep Things Simple

If a room is tiny, then nothing is going to make it huge and spacious, but you can make the most of the space by keeping things simple. Choose neutral colours with a few pops of pattern or colour to draw the eye in. If you think neutral looks too plain, then add some textures in similar tones, which will give the room a luxe look.

Use Light and Mirrors

Mirrors are convenient in small rooms, as they fool the eye into thinking the room is bigger. Light is also very important. Never block a window, even partially, as this will make a room feel gloomy and claustrophobic. You should also make sure the room is well-lit, but don’t use huge light fittings or floor lamps. Wall-mounted lights take up less space, and up-lighters can draw the eye upwards.

Choose the Right Shape Furniture

Tiny rooms are often awkwardly shaped, so you need to find furniture that fits into the room nicely. For example, if you have an area with a sloped ceiling, find an L-shaped corner sofa that fits into that nook and create a living area. If your room is long and thin, place a sofa that fits snugly into the width of the room, which will make it feel wider. While it may sound expensive, bespoke furniture can be a good solution for tiny rooms, as it allows you to design something functional and just the right size. Look online for some furniture designers in your location, and you may be surprised that they’re not as pricey as you think.

Switch Rooms Round

When you move into a house, don’t feel like you have to keep the same layout as the previous tenants or owners. If a bedroom is far too small, for example, you may want to turn the dining room into a spare bedroom, then have a combined kitchen/diner. Tiny rooms often work better for nurseries, home offices, and spare bedrooms, rather than somewhere like a living room or adult bedroom, so think about switching around if possible.

A tiny room doesn’t have to compromise on style. Many people now live in smaller homes and have less space, so many new design solutions have been created to help. From adding storage space to removing bulky furniture, there are many ways to make a small space work efficiently for you.

For no-obligation advice on buying or selling a home in Warrington please contact our expert property team at Hamlet Homes Warrington on 01925 235 338 or call in and see us. We look forward to seeing 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

Over 1 in 5 Warrington Properties Being Sold with No Chain

Moving home is said to be the third most stressful thing you can do, so if you can do anything to reduce that stress, so much the better? When buying your next Warrington home, being chain-free can certainly reduce your stress and offers many advantages over other buyers (and some disadvantages).

So, what is a chain? A property chain is made when there is a line of home buyers and home sellers linked through their property transactions e.g. a Warrington first-time buyer purchases a property, the sellers of that property then buy another property, and those sellers then buy another property, so on and so forth. Each home sale and purchase are reliant upon the success of every property in the so called ‘chain’. This means if there is one hiccup on one of the properties, every sale and purchase along the whole chain would collapse. No wonder everyone is on tenterhooks when there is a long chain involved.

Yet Warrington buyers who sell their home before searching for a new Warrington home considerably reduce their stress levels because they are not needing all the ducks to ‘line up in a row’ on the sale of their home in order to buy their new Warrington home.

Being chain-free puts Warrington home buyers in an enhanced position to negotiate with home sellers and they in turn may be more enthusiastic to accepting a lower offer.

Sounds brilliant this chain-free life doesn’t it? Everyone is a chain-free buyer once … when they are a first-time buyer and if they are lucky enough to have an additional home to move into. The other option is selling your Warrington home and moving into rented accommodation, but that will end up costing quite a few thousand pounds (in what many perceive as wasted money) together with the added cost of employing the services of home removers twice (with all the hassle that entails doubled!). However, that is what many Warrington homeowners are doing.

20.7% of all the properties on the market today in Warrington are being sold without a chain.

I can’t disagree, moving home twice in a short period will be stressful and rent could be perceived as ‘wasted money’, but I have to recommend you look at the bigger picture. It is one of the sturdiest sellers’ markets in a generation, meaning you should get top dollar for your Warrington home, knowing that many buyers are keen to complete before the stamp duty holiday ends in the autumn.

Then by waiting for the return of stamp duty and for the full roll out on the immunisation programme to give more Warrington homeowners the peace of mind to place their Warrington home on to the property market, for Warrington house prices to cool and the number of properties for sale to increase. Then you could pounce in and buy, with more Warrington homes to choose from and at more realistic asking prices.

So, does the type of Warrington property that is being sold make any difference?

• 6.2% of detached houses in Warrington are being sold chain-free
• 19.6% of semi-detached houses in Warrington are being sold chain-free
• 22.9% of town house/terraced Houses in Warrington are being sold chain-free
• 27.8% of apartments/flats in Warrington are being sold chain-free
• 31.8% of bungalows in Warrington are being sold chain-free

Of course, these aren’t all Warrington homeowners going into rented accommodation hoping to bag a bargain next year. Many of the bungalows are being sold because their homeowner has either moved into sheltered accommodation or sadly passed on and there are Warrington landlords selling their Warrington buy-to-let rental investments.

And don’t get me wrong, there are also risks involved with this type of home buying strategy. Moving into rented accommodation means you are out of the Warrington property market. Property values could dip in the next 12 months, yet they still could continue to rise - you are taking a gamble on a dip in the market and it could go wrong.

Like most things in life, it depends on your own personal circumstances, where you are in your life, your attitude to risk and your belief on what will (or won’t) happen to property values in Warrington in the next 12 to 18 months.

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

5 Things That Could be Making Your House in Warrington Harder to Sell!

 

If you’re looking to sell your house in Warrington, the chances are you’ll want to do it pretty swiftly, especially if you’ve already got one eye on your next property.

Selling up can be a lengthy process at the best of times, so you don’t want to give buyers any extra reasons to delay the purchase.

Unfortunately, without realising it, you may be making your property harder to sell. So, with this in mind, here are five things that make your house harder to sell, along with the solutions so that you can sell your house faster!

The Problem: Too Much Clutter
There’s a fine line between a house that’s ‘lived in’ and loved and one that’s a complete mess! While potential buyers are unlikely to be put off by a few magazines on the coffee table, having a living room that’s sprawling with toys and games all over the floor or an understairs cupboard stuffed to the brim won’t give potential buyers a good first impression.

The Solution:
To avoid this issue, use your house move as an opportunity to declutter. You can list some items on an online auction site such as eBay to make some extra cash and use it to furnish your new home, or simply donate some of your old belongings to a local charity shop.

And if you decide that you can’t let any of your belongings go, then just make sure the house is tidy and well-presented before any viewings. Put away anything that’s making the house look untidy, either in storage or neatly in a garage, shed or cupboard.

Lastly, although it’s a good idea to declutter, don’t fall into the trap of removing all your personal items. Viewers will want to imagine themselves living in the property, so seeing a few family pictures and keepsakes around the house is more likely to leave a positive impression than a completely generic house with no personality.

The Problem: Poor Maintenance
It’s easy to put off odd jobs until they become absolute priorities, like replacing a missing lightbulb, fixing a broken fence, or getting the boiler serviced annually.

However, when it comes to selling your property, these are all things that potential buyers will notice and ask questions about. Therefore, it’s worth spending just a little bit of time and money to bring everything up to scratch.

The majority of buyers are looking for a home they can move into straight away, without having to make major changes immediately, such as getting a new boiler or having a new fence installed.

The Solution:
Before your estate agent books any viewings, make sure that everything is ship-shape and in good working order. Get your boiler serviced, check your taps, showers and central heating. Give your garden the once over and don’t forget to clear debris from gutters.

The Problem: Bad Odours
Most homes have a certain smell to them and in most cases it’s very unlikely to put visitors off, however if you’re a heavy smoker, cook pungent foods or have pets that cause a strong smell in your house, then this can be off-putting.

The Solution:
The simplest solution to this problem is to make sure the house is clean and well aired before any viewings.

Make sure you’ve cleared up any pet droppings and leave windows open to allow fresh air in. A scented candle lit for half an hour before viewings will also help to remove any strong odours.

The Problem: It’s overpriced
It’s perfectly understandable that you want to achieve the highest possible price for your house, but it’s important to be realistic too.

A good estate agent will be able to give you the price range that you should be looking for, but bear in mind if your house isn’t selling, you may need to accept an offer closer to the lower end of that range than the top.

The Solution:
In order to get the full asking price or as close to it as possible, make sure your house is well maintained and everything is in good working order.

A faulty boiler or peeling paint on the walls can unwittingly encourage buyers to put in a much lower offer than you’re looking for, so getting a few small jobs done, such as an annual boiler service and giving the walls a fresh lick of paint could make a big difference when it comes to getting your asking price.

You should be prepared to be flexible on the asking price, particularly if you’re looking for a quick sale, and be realistic about how much you’re willing to accept.

The Problem: Poor ‘kerb appeal’
Kerb appeal is essentially the first thing a potential buyer sees when they look at your property from the outside, so as with everything in this list, first impressions count.

If you’ve got an overgrown front garden and dirty wheelie bins permanently on display, it could deter some buyers before they even set foot inside.

The Solution:
As a bare minimum, make sure your wheelie bins are clean and tucked away, any weeds have been dug up, and grass has been cut.

And you can even go a step further, by adding some hanging baskets or pot plants. Be creative.

For no obligation advice on buying or selling your home in Warrington please contact our expert property 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

Warrington Property Market: 2011-2021

A look back at the Warrington housing market over the last decade

With all of us completing the Census, a couple of weeks ago, it made me realise profoundly that mine and my family’s life, which from our own point of view seems unique and delightful, makes us all into a series of statistics for the Census gatherers to pore over. To digest and regurgitate facts, figures and trends for those who are interested in the ever- changing social circumstances of these islands.

However, the information from the Census is vital to improving our lives - Governments can plan the future with the information it provides and we in turn can wonder about the lives of our past generations with the information provided therein historically if we so wish.

Whilst the information from this Census won’t be published until March 2023, let us have a look at what has been happening in the Warrington property market since the last time we completed the Census in 2011.

Just to remind you, 2011 saw the wedding of Prince William and Kate Middleton, Mr Cameron was the PM, there was the last flight of the Space Shuttle and Game of Thrones premiered.

Whilst in the Warrington property market …

· The average price paid for a Warrington detached home in the last 12 months has been £343,600. The average value of a Warrington detached home has risen by 27.5% in the last 10 years or £68,400

· The average price paid for a Warrington semi-detached home in the last 12 months has been £198,600. The average value of a Warrington semi-detached home has risen by 38.6% in the last 10 years or £55,700

· The average price paid for a Warrington town house/terraced home in the last 12 months has been £149,700. The average value of a Warrington town house/terraced home has risen by 27.5% in the last 10 years or £36,800

· The average price paid for a Warrington apartment/flat in the last 12 months has been £107,400. The average value of a Warrington apartment/flat has risen by 36.8% in the last 10 years or £34,900

New properties built in Warrington…

Irrespective of any dip in Warrington house prices or transactions when the Stamp Duty Holiday ends in the autumn, this is a trend that looks set to continue, with no sign that supply of new homes is anywhere near to keeping pace with demand for households.

There have only been 3,446 new properties built in Warrington in the last 10 years, that’s less than 29 a month. That means the population in Warrington has risen by 1.72 people for every new home built over that decade.

Nationally, the Country has only built just over 180k homes a year over the last decade, 120k less than the national target of 300k. In the meantime, the population has grown by more than 4 million.

When looking locally at the size of new build property in Warrington, the average property is around 850 sq. ft., which is 13% larger than a decade ago.

Rents in Warrington …

Whether you are a winner or loser in terms of rental values depends on whether you are a Warrington landlord or a Warrington tenant.

The average rent for a property in Warrington currently stands at £600 per month, whilst a decade ago, it was £545 per month

This means private rents have increased by 45p a month for the past ten years. Interesting, when compared to the national average of 98p a month whilst in London, rents have grown by £4.64 a month.

The next 10 years of the Warrington Property Market…

The next ten years will also be just as fascinating. To try and predict would be a fool’s game.

For example, who would have believed what the Warrington property market has done in the last 12 months since the start of Lockdown 1.0. The number of transactions (i.e. people moving) in turn with UK house prices having risen so much in the last year ... all during a worldwide pandemic and at a time of such mayhem and havoc in the UK and world economy, is nothing short of remarkable … the question is – is it sustainable?

Read these articles in the coming months and years and I will share with you what is happening to the value of your Warrington property, be you a Warrington homeowner or Warrington landlord.

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

7 Easy Ways to Save a Deposit For Your First Home in Warrington

   

Lots of people dream of no longer living with their parents or throwing money at their landlord every month and instead buying their own home in Warrington. However, one of the things that often stands in the way of first time buyers is raising a deposit. The average house price in the UK is just over £234k, and nearly all mortgages require a 5% deposit, so that’s a large amount to save.

With this in mind, here are some ways you can raise the cash to get on the property ladder.

1. Look carefully at your outgoings

While you may think you’re living quite frugally, most people have some areas where they can cut back a little. For example, if you buy a £2.75 takeaway coffee every working day, that works out at £55 a month or a whopping £3,300 over five years. Even chipping away at these small expenses can improve your finances, and when it comes to applying for a mortgage, you can show that you have a pattern of sensible spending.

One big outgoing that non-homeowners have to deal with is rent. While it’s not the most fun solution, if you can move back with your parents for a year, then you could put away a lot more cash. The loss of freedom may be worth it if it means you aren’t stuck in rented accommodation for years to come.

2. Get a side hustle

Many millennials now have a full-time job and a side hustle, which is basically something they do in their spare time for a little extra cash. Side hustles are often something that’s creative or a little more interesting than your day-to-day job, from selling handmade items on sales platforms like Etsy to creative writing, but if you don’t have a particular skill in these areas, then you could always consider selling things on eBay, evening bar work, or anything that fits in with your work schedule.

3. Ask for family help

Around 23% of first-time buyers admit that they got help from their parents for their deposit. If you parents have the savings and are willing to give you money towards your deposit, then you will no doubt be pleased to take it. However, you need to consider the impact on your mortgage application. Mortgage lenders will still want to know that you can afford the mortgage repayments and will need a signed declaration from your parents that the money is a gift, and you aren’t going to be paying them back.

If your parents don’t have the savings to help you with cash, they may still be able to give you a helping hand onto the property ladder. For example, some banks do offer 100% mortgages that are secured against your parent’s home. However, it’s important that you all do your research before you take out this sort of product as it is a huge commitment.

4. Take money out of your account at payday

Many people wait until the end of the month, see what’s left over in their account (if anything), then transfer that into their savings account. However, a better way to save is to work out what you need to live on for the month, with a little cushion for emergencies, then set up a payment for anything left over on payday. This means you’re more likely to live frugally throughout the month.

5. Move to a cheaper area

If rent, travel and other outgoings are wiping out your income each month, a solution may be to move to a cheaper area whilst you save for your deposit. You certainly wouldn’t be alone, last year over 300,000 people moved out of London, many of them families with young children, while cities such as Bristol and Manchester saw influxes of ex-Londoners.

It can be difficult to leave a location you love, so think about the things you like most about it, then try and find similar aspects in a cheaper location.

6. Lock away your savings

When interest rates are low, it’s worth considering taking out an ISA (Individual Savings Account). These products allow you to save tax-free, and if you choose an ISA where your money is locked away, with penalties for early withdrawals, you’ll usually get a far better interest rate. This can also stop you dipping into your savings.

7. Buy with a friend

Getting on the property ladder can be tough if you’re single. It’s slightly easier if you’re a couple with two incomes, as you can both save and the mortgage will take both incomes into account, but you don’t have to be romantically involved to share a mortgage! Ideally, it should be someone you’ve lived with before, perhaps a long-term roommate, and someone who is financially responsible and you’re happy to live with potentially for years.

If you want to get on the property ladder, there are many ways that you can do so. Whether you make small or large lifestyle changes to get there, it will be worth it in the end.

For impartial first time buyer advice contact our expert team at Hamlet Homes Warrington on 01925 235 338 and we will be delighted to assist.

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