3 in 10 Warrington Homeowners Unable to Sell

• The average time to find a buyer for a Warrington property reduced from 60 days in 2020 to 37 days in 2021.
• Yet still, just under 3 in 10 Warrington homeowners are on the market after 12 weeks.
• Why are so many Warrington homes still on the market after all that time, and what does it mean for the Warrington property market?

You would have needed to have been living in a cave since the end of Lockdown No.1, not to realise the property market has been on fire in Warrington (and the UK as a whole) for the last 18/20 months.

It has been very much a seller’s market, especially in 2021. Yet as we enter the second quarter of 2022, I have noticed a slight rebalancing of the Warrington property market, more towards buyers, something that is good news for everyone (sellers and buyers) locally.

In 2020, it took on average 60 days from the average Warrington 

property appearing on the property portals (i.e. Rightmove, Zoopla 

etc) to the property going sold (STC).

Interesting when compared to the national average of 72 days in 2020. Yet, last year, this was reduced to 37 days in Warrington (51 days nationally).

So, what's the issue with the Warrington property market being on fire?

Well, that was last year, and things have changed slightly since.

Of the properties for sale in Warrington, 20.9% of houses have been 

on the market for more than 12 weeks.

That doesn't sound a lot, yet that is an eternity in this market!

So, why are there so many properties on the market in Warrington still for sale after all this time … it usually comes down to one thing … the practice of 'overvaluing'.

So before I explain what overvaluing is, let me give you some background.

Many agents (not just ourselves), in 2021, were achieving top prices for Warrington property with multiple offers becoming the standard. The property they were selling was only available to buy for days before the owner obtained multiple offers that were not only at a satisfactory level, yet more than they ever dreamed likely.

Although this was great news for Warrington homeowners, this caused fewer homes to come onto the market in the last six months in Warrington, as people were afraid to put their home on the market without having a property to buy.

With fewer properties coming onto the market, some estate agents have become more and more desperate to get a larger slice of this smaller property market. It has seen an unwelcome side of the estate agency profession, the estate agency practice of ‘overvaluing’.

While ‘overvaluing’ is nothing new, the custom has been generally limited to a small number of estate agents. Yet now, it's become more prevalent and creates uncountable distress and pressure for some Warrington homeowners.

Many Warrington homeowners want to sell quickly to get the property of their dreams. Yet, in many cases, when they do put their property on to the market, they don’t sell quickly enough because of this ‘overvaluing’ (even with the fantastic current property market conditions).

To give you an idea of the issue…

62% of Warrington homes put on the market

in the last 30 days have not sold.

There are hundreds of Warrington families having their dreams dashed by 'overvaluing.'

Therefore, let me look at exactly what overvaluing is, why it’s on the rise and most importantly, the harm overvaluing causes to homeowners like yourself.

You would think the most important thing in estate agency is all about finding the best buyer for your home, at the best price, who can make the move with the least amount of hassle.

To us it is, and to many other Warrington estate agents, it is as well. Yet, to some agents, sales aren’t the essential objective. Instead, it is having a vigorous catalogue of properties to sell to generate more future leads.

Deprived of an endless number of new properties for sale, the enquiries estate agents receive will significantly drop, leaving them high and dry without any buyer (or seller) leads, the lifeblood of estate agents.

Therefore, some (not all), but some estate agents will feed on a homeowner’s appetite to get the highest possible price for their Warrington home by giving them an over-inflated suggested asking price to market their property at (i.e. ‘overvaluing’).

If one estate agent can get you an extra £30,000 for your 

Warrington home, you will take it, won’t you?

The suggestion of pushing the asking price of your Warrington home for 10%, 15% even 20% could be seen by many as a temptation too good to miss. Yet once you are on the market, the agent is trained to slowly get you to reduce your asking price over a lengthy sole agency agreement.

The problem is that the home of your dreams might have sold by the time you reduced your price in 3 months. Also, Which reports in 2017 and 2019 proved you ended up getting less for your home when it did eventually sell (which means you lose money) and finally, the agents know homeowners perceive it’s a hassle to swap agents (which it isn’t).

But estate agents only get paid when they sell the house; why do 

they overvalue?

Would it surprise you that some Estate Agency chains pay their staff a commission when they put the property on to the market, not when it sells? So, their team overinflate their suggested asking prices to get that commission.

Over the last 18 months, with the rising property market, there has undoubtedly been a valid reason for pushing the envelope on the asking price. Yet, if every house like yours is on the market or sold subject to contract at £300,000 to £320,000, yours isn’t going to achieve £355,000, let alone £375,000 – even in this market.

With 62% of Warrington homes still for sale after a month, the market is starting to level out and if you are keen to sell, then let me give you some advice.

Research has shown that if the asking price is initially set too high, 

it will be ignored by people surfing Rightmove and Zoopla.

(Come on, be honest – you have done that yourself haven’t you?)

When the property is eventually reduced because it has the stigma of being on the property market too long (begging the question of potential buyers that there may be a problem with the property itself hence no interest?), often when it does eventually sell, it will sell for less than what it would have done if it were priced correctly from day one (as per the two reports from Which in 2017 and 2019).

Of course, on the other hand, setting the asking price below its market value means potentially leaving money on the table needlessly – hence the need for a good agent.

Putting your Warrington home or buy-to-let investment up for sale at the right price from the beginning is the key to selling within the best time frame and for the best price to a serious and motivated buyer.

Ask a handful of estate agents to value your home, ask them to back up any valuation of your Warrington home with cold hard comparables of similar properties to yours.

Find your comparables by searching ALL the property portals (i.e. Rightmove, Zoopla, Boomin, OnTheMarket).

If you only take away one thing from this article, when you search the portals for comparables, make sure you include under offer/sold STC properties, as that will triple the comparable evidence.

Thus, by doing your homework and then working with a dependable, trustworthy and experienced Warrington estate agent, who will help to ensure that your Warrington property is put on the market to get you, the homeowner, the best price from day one without over cooking it (so you don’t lose out), you will be just fine.

These are my thoughts, let me know if you have any yourself.

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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Is Buy to Let in Warrington a Good Investment?

Is buy to let in Warrington a good investment? That’s a really good question, for so many different reasons.

Firstly, what makes a ‘good investment’?

What are the hallmarks of a ‘good investment’?

Secondly, is buy to let a ‘good investment for you’, personally speaking?

Just like the word ‘good’ is a concept for discussion, so is whether a good investment works for you. Thinking about it further, what does investment actually mean?

These are exactly the type of questions you should be asking yourself if you are thinking of becoming a buy to let investor in Warrington. They will help you shape your future if you do become a landlord of residential properties.

Here, we will look at what makes a good investment when it comes to property.

What does a good investment look like?

First ask yourself: What do you want a good investment to look like?

It might be that you have a little money in the bank, or you want to use some of your savings as a deposit for a buy-to-let mortgage. The rewards from a property investment will certainly outweigh leaving the money in a standard bank account. That’s great on the face of it, but what are you investing for? Do you want to get a return in terms of a good rental income, or are you thinking long term when the property you buy could be worth a lot more money giving you the option to sell and profit later on?

So, think about your reasons for investing and what you want to get out of it.

What does good actually mean?

What does ‘good’ mean when it comes to looking at a ‘good investment’ in property?

It might be that you’re looking at capital growth (your property rising in value) or it might be that ‘good’ means a good rental yield. This means that you get a solid return on your money through the rent you get back.

To calculate the yield, divide the annual rental amount by the property value and then times that by 100. This will give you the rental yield. A good yield varies depending on where the property is located, but you should be looking at around six percent or above. To decide whether your investment is good, make sure everything adds up. Your rental income must at least cover your costs.

Is the property right for a good investment?

To answer this question, you’ll need to consider whether the property is in the right area for it to do well when it comes to finding a good tenant.

• Is it likely to soak up some of your funds because it needs a lot of repairs and maintenance to bring it up to scratch?
• You may understand that it needs work, and you may have budgeted for it, but if you exceed your budget, will this still make it a good investment?

Try and keep your emotions out of it. Buying and renting property should be based on business decisions. Plan, and then plan some more.

Is it just a money investment?

There is more to buy to let than just investing money. Finances are imperative but it’s not the only factor you should be thinking about.

• Can you afford the time to be a landlord?
• Can you invest thinking space and dedicate hours to make sure you are on the right side of the law?
• Do you have the time to invest in doing any maintenance or repairs?

Being a buy to rent landlord is so much more than merely buying a property and waiting for the rent to arrive in your bank account.

Assess your priorities, as not having the time doesn’t mean you can’t invest in property. It might mean that you ask a lettings agent to find you a tenant and then manage the property on your behalf.

Buying and renting out a house could be a fantastic opportunity for you, but you must do your homework. While you will of course be looking online and asking friends or relatives, it’s important you speak with the property experts. In Warrington that’s us and we would love to help you as you start your journey. Give us a call on 01925 235 338 or email us at 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

How Will Rising Inflation Affect the Warrington Property Market in 2022?

The UK is currently experiencing its highest inflation rate since the early 1990s. This increase in prices has primarily come about by the combination of an increase in demand for goods and services from consumers following lockdown last year together with global supply chain disruptions.

Most economists weren't too concerned about this increase in the inflation rate as the very same thing happened in the early 1990s following the Credit Crunch with a similar rise in demand and supply chain issues. Thankfully, back in the early 1990s, inflation returned to lower levels quite quickly. However, the situation in Eastern Europe now could change matters.

So, let me look at all the factors and what it means for

the Warrington property market.

The crisis in Eastern Europe has sparked even further rises in crude oil, (which diesel and petrol are made from) gas and grain prices as pressure on supply chains around the world increases.

In my previous articles, I suggested UK inflation would rise to around 7% in the spring and drop back to 5% in the autumn and as we entered 2023, be approximately 3% to 4%.

Yet, with these issues, inflation could rise to 8% to 9% by late spring and still be around 6% to 7% in autumn, well above the Bank of England's target of 2%.

With Warrington wages rising at only 3% to 4% and inflation at 7%+,

Warrington household incomes, in real terms, will fall.

This is because ‘real’ UK household incomes characteristically have been the most consistent lead indicator of growth (or a drop) in house prices. This is because growing inflation erodes the value of money you earn, which reduces its buying power. When the cash in your pocket has a lower spending power, people tend to spend less when they buy (and rent) a home (and vice versa).

Next month, Income Tax thresholds will be frozen, and National Insurance contributions are increasing. Collectively, all these issues will create a drop of around 2% to 2.5% in the real disposable incomes of Britain's households in 2022 (real disposable income - somebody's take-home wages after tax and then the effects of inflation are considered).

Will Warrington people be more anxious to spend their money?

With less money in people's pockets, people's inclination to spend the money they do have could also be curtailed. People's savings are at an all-time high, yet many will decide to sit on the cash, instead of spending it, especially as consumer confidence has dropped to minus 26 on the GfK index (whatever that means – but in all seriousness though - more on that below).

All this can only mean there is going to be a house price crash.

It’s all doom and gloom! … Or is it?

My heart goes out to people caught up in the awful humanitarian crisis in Eastern Europe. Yet, I respectfully need to put that to one side for just a moment for the purpose of this article.

This blog is about the Warrington property market, and Warrington people want to know what will happen to the Warrington property market.

In the first half of the article, I looked at the impending fall in real disposable incomes of 2% to 2.5% in 2022. I appreciate it's going to be tough for many families in Warrington. Yet, it is always important to consider what has happened in previous times.

1982 – a drop of 2.3% in real disposable income
1992 – a drop of 3.7% in real disposable income
2008 – a drop of 5.8% in real disposable income

Yes, it's going to be tough, yet we got through 1982, 1992 and 2008 – and so we shall in 2022/23.

Next, the price of petrol is very high compared to a year ago.

The average price of unleaded petrol is £1.51/litre today, quite a jump from the £1.21/litre a year ago. But, here is an interesting fact, petrol was a lot more expensive (in real terms) in 2011 than today. In TODAY's money, a litre of unleaded petrol in 2011 would be the equivalent of £1.79/litre.

We have some way to go before we get to those levels – and again, the Warrington economy (and property market) kicked on quite nicely after 2011.

What are Warrington people spending on their rent and mortgages?

Housing costs - owner occupiers were spending on average 17.3% of their household income on mortgages in 2015, yet in 2021 this had risen, albeit to 17.7% - not a huge increase.

Council house (social) tenants have seen a drop in their rent from 29.2% in 2015 to 26.7% in 2021, whilst private tenants from 36.4% in 2015 to 31.2% in 2021.

Interesting that private tenants are proportionally 14.29%

better off in 2021 than in 2015.

How we spend our money - the average UK home spent 4.2% of their household income on energy in 2021, and that is due to rise to 6.3% after April (and probably 7% in October). Yet, as a country, we spend 9% of our income on restaurants and hotels and 8% on recreation and culture. As with all aspects of life, it will mean choices, and maybe we will have to forego some luxuries?

Just before I move on from this aspect of the article, again I appreciate I am talking in averages. Many people with low incomes suffer from fuel poverty and they will find the increases in energy prices hard – my thoughts go out to you.

Interest rates - higher inflation is generally brought under control using

higher interest rates, meaning mortgage payments will be higher.

First, 79% of homeowners with a mortgage are on a fixed rate, so any rise won't be instantaneous. Yet, there will be a bizarre side effect from the issues in Eastern Europe. Surprisingly, though the current situation in Eastern Europe, by its very nature, will bring greater UK inflation, it will also probably defer the Bank of England raising interest rates. This means mortgage rates won't increase as much as the bank won't want to exacerbate any pressures to the UK economy in 2023/24 caused by the conflict.

The stock market had priced an interest rate rise to 2% by the end of 2022. I suspect this will now be no more than 1% to 1.25% by Christmas, slowly going up in quarters of one per cent every few months. The crisis in Eastern Europe might even come to be seen as a defence for higher inflation throughout 2022, all meaning everyone's mortgage will be less.

Next, looking at Consumer Confidence Indexes - these indexes are fickle things. I prefer to look at the Organisation for Economic Co-operation and Development Consumer Confidence Index as it has a larger sample range and a longer time frame to compare against. Looking at the data from the mid 1970s, the drop in consumer confidence is big, yet nothing like the drops seen in the Oil Crisis of the mid 1970s, Recession of the early 1980s, ERM crisis of 1992 and the Global Financial Crisis of 2008/09. Also, when compared to the other main economies of the world (G7), the UK has always bounced back much more quickly from recessions when it comes to consumer confidence.

What about house prices in Warrington in 2022/23?

Increasing energy prices, rising inflation, an increase of sanctions, and a probable drop in consumer confidence and spending in the aftermath of the conflict will knock the post-pandemic recovery globally, which will lead to a recession around the world, including the UK.

A recession is when a country’s GDP drops in two consecutive quarters. For the last 300 years, there has been a direct link between British house prices and GDP – (i.e. when GDP drops, UK house prices fall). Yet in 2020, the British GDP dropped by nearly 12%, yet house prices went the other way.

But, let’s look at what would happen if Warrington house prices did drop by the same extent they did in the Global Financial Crisis of 2008/09.

House prices in Warrington dropped by 17.3% in the Global Financial Crisis, the biggest drop in house prices over 16 months ever recorded in the UK.

The average value of a property in Warrington today is £239,874.

Meaning if Warrington's house prices dropped by the same percentage in the next 16 months, an average home locally would only be worth £198,375.

On the face of it, not good – until you realise that it would only take us back to Warrington house prices being achieved in August 2020 – and nobody was complaining about those.

Yes, that will mean if they do drop in price, the 4.7% of Warrington homeowners who have moved home since August 2020 would lose out if they sold after that price crash. But how many people move home after only being in their home for a few years? Not many!

The simple fact is that 95.3% of Warrington homeowners will

be better off when they move if house prices crash.

And all this assumes there will be a crash.

The simple fact is, the circumstances of 2009 that caused the property crash are entirely different to 2022 (no lending by the banks, higher interest rates and increasing unemployment compared to today’s increased lending, ultra-low interest rates and low unemployment environment).

I do believe with all that's happening in the world we might see a rebalancing of the Warrington property market later in 2022 and could see the odd month with little negative growth in house prices, yet it will be nothing like 2009.

The expected fall in household spending could be counterbalanced by UK businesses’ plans to invest more in their businesses (with last year’s tax breaks on investing), which will create even more jobs.

Who knows what the future holds? These are just my opinions – what are yours?

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 to Consider Before Moving to a New Area

Considering a move to a new area can feel incredibly exciting. When you first move, daily life can feel like an adventure. There will be new restaurants to explore, local markets to discover and new people to meet.

But deciding whether you should move to a new area is a big decision, and there are some essential things to consider before you take the plunge.

In this article, we will share our advice on the top five things to consider before buying a new home and moving to a new area.

1. Can You Afford It?

First, you need to establish whether you can afford to live in your chosen new area – and which type of property is best for your budget. The best way to do this is to get in touch with a local estate agent. With their help, you can understand what types of properties are available to suit your budget.

2. Are the Transport Links What You Need?

Travelling around your local area is something you are likely to do frequently – probably daily. Good transport links can make a huge difference in determining whether an area is the right place to live. To check whether the location is suitable for your lifestyle, check out area guides on your local estate agents’ website.

3. Are the Local Amenities Suitable?

Some people will want lots of amenities close to their home – whether that’s schools, colleges, supermarkets, leisure activities or local parks. However, for others, these things may not be quite so important. Ultimately, the amenities you want in an area entirely depends on your lifestyle. The best way to find out about the local amenities is to explore the area and contact an expert estate agent.

4. What are Crime Rates Like?

If you feel particularly concerned about the crime rates in an area because you have children, elderly relatives or for any other reason, it’s a good idea to investigate the local crime statistics. You can do this online. Simply type the location into the police.uk website to analyse the results. Just remember that the statistics can look scarier than they seem, so it’s a good idea to compare the data with where you currently live before you decide.

5. What Employment Opportunities Are There?

Naturally, if you want to retire to a new area, local employment opportunities will not be important to you. However, if you plan on working close to home when you move, you should check out available jobs and salaries.

Get Expert Advice

At Hamlet Homes Warrington, we are your local property experts. If you’re thinking about buying a new house and moving to a new area, our friendly team are happy to help you find your dream home in Warrington.

Give us a call today on 01925 235 338 or send us an email at manoj@hamletwarrington.co.uk to start your new journey.

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

How to find your perfect home in Warrington

It’s exciting preparing to find a new home and embarking on the next stage of your property journey, but of course, there are many factors that must be considered along the way as you find your perfect home in Warrington.

It’s likely you will view many different properties before finally settling on the right one for you. It’s also likely that you will have certain criteria to fulfil and plenty of boxes to be ticked. These might include the need for your chosen property to be situated in a location of your choosing and its ability to meet the demands of your lifestyle, whether that be in close proximity to good schools, shopping facilities, or if you are a social butterfly, close to cafe culture and a vibrant nightlife.

At Hamlet Homes Warrington our aim is to help you make the correct choices and best decisions when it comes to finding your perfect home in Warrington so to make the experience straight-forward and stress free, we have compiled our top tips to ensure you make the right decision.

Research is the key to the door

What type of property do you require? It’s important to scope out the local area so that you can judge what type of properties are available in which locations and at what cost. For example, Victorian properties may be located at one end of a town, whilst new builds are predominantly at the other end! With this in mind, if you are searching for a large Victorian property in location A, your research may indicate that you may only be able to secure that particular type of property in location B. So, the question is, will you be happy to compromise?

This is the reason it’s vital you research the market thoroughly so that you not only have realistic expectations but are aware that you may need to adjust those expectations in order to find your perfect home in Warrington.

Top Tip: Think about what you truly need from your home rather than extras you simply desire, and be honest about it! For example, if you work from home, an office will be a need. If you have children, a garden will be a need. If you have a large family, multiple bathrooms will be a need. Whereas a desire could be a log burning stove, a decked area in the garden, solid wood floors or a conservatory. All of the latter can of course be added to a property with good planning and little hassle.

Location, location, location

Do you need to be close to your place of work, your children’s school or your extended family? Or are you willing to compromise on proximity in order to purchase your dream home in Warrington? Think about whether you are prepared to make concessions on some of your specifics, perhaps with a trade-off being a slightly longer commute, living closer to a busy road or a little further from amenities. These factors matter and it’s important you are clear about what is imperative to your happiness in your new home.

Top Tip: The right location is often more important than the right house. You can always alter a house and turn it into your home – however, you cannot change its location. Consider this when seeking compromises!

Enlist the help of an expert local estate agent

Finding your perfect home can be challenging so please don’t attempt to do so alone. Your local estate agent will be able to help you scope the area, arrange viewings of properties that match your criteria, shortlist the properties you love, offer expert advice regarding local schools and businesses in the area and of course assist you through making an offer and negotiating the best price on your dream home.

Hamlet Homes Warrington are here to help you

By registering with us and letting us know your preferred location and the type of property in Warrington you are looking for, you’ll receive updates as soon as properties matching your criteria become available and you will never need to worry that you’ll miss out on your dream home.

At Hamlet Homes Warrington we take on new properties in Warrington and the surrounding areas daily, so register with us today and let us assist you in finding your dream home in Warrington.

We are ready to help you start the process of finding your perfect home and look forward to welcoming you to our office. Simply call us on 01925 235 338 to arrange an appointment or drop in and speak with a member of our friendly team. We look forward to seeing you soon.

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

1 in 91 Homes are Sitting Empty in the Warrington Area

• 1,060 homes in the Warrington area are empty, which represents 1 in 91 homes.
• 797 of those have been empty for more than six months and are worth £191million.
• Why are those properties standing empty and deteriorating and why could that become an issue for the whole of Warrington?

A couple of weeks ago was National Empty Homes Week, so I thought I would find out how many homes are empty in the Warrington area - the numbers surprised me, so I wanted to share my thoughts about them with you.

The latest Government statistics show that 797 properties in 

Warrington have been empty for more than six months.

Homes that are left empty for an extended period can affect our locality and occasionally invite anti-social behaviour.

With a shortage of housing in the Warrington area, these empty homes must be brought back into use to generate much-needed housing for local people.

As you can see in the first bullet point, some homes are only empty for a short period of time. Yet, those local properties that stand empty for more than six months and then deteriorate become a problem for our local community.

I appreciate there can be many genuine explanations why a property may be left empty for a long time. However, with council house waiting lists at high levels and the shortage of both properties to buy and rent in Warrington, we must ask what is being done about this at Government level and how this could affect the Warrington property market?

The collective value of these 797 long-term (6 months or more) 

empty houses in Warrington are worth £191million.

This impacts the Warrington housing market with a lack of properties coming onto the market for sale and rent. This results in house prices being pushed up, making it less affordable for first-time buyers to get on the first step of the housing ladder.

It’s a real shame that many local properties are empty for over six months when there is an increasing demand for accommodation, at a time when there’s such a competitive housing market.

So, one might ask if this issue of long-term empty properties is a new problem? Well, not really.

There were 916 homes long-term empty in Warrington in 2010.

I know our local authority likes to work with property owners of empty homes to bring them back into housing stock as it helps with the housing shortage, even with the help of grants if improvement work is needed for the empty home. Yet, they could use enforcement action where a homeowner is incapable or unwilling to bring their property back into use.

So, what is the Government doing nationally? Homeowners are charged a 50% premium on top of their Council Tax if their home has been empty for two years or more. This can rise to a 300% premium if the property has been empty for ten years or more.

However, the bigger question is, why are all these homes in the 

Warrington area being left empty?

The real answer is - they are not.

A handful of the properties belong to the local authority and are in poor condition because the tenant trashed the property.

Probate (where the person's estate is put in order and passed onto the beneficiaries of the will) takes between six and twelve months. Most of these long-term properties are being modernised and renovated, whilst other Warrington properties are part of a deceased estate. In other circumstances, some Warrington homes have been left empty after the owner has been placed into a care home, yet there is no Power of Attorney to put the home onto the market.

There is no 'one fix all' to the empty home syndrome in Warrington.

Empty properties in Warrington is not the issue that will sort the housing crisis we’re suffering from.

The simple fact is the population is growing faster than the number of houses being built. We need to build more homes.

Whether that means council properties, housing association homes, private landlords or even owner-occupation housing the masses - that's a massive question we could all talk about, day in day out until the cows come home.

So, tell me, what are your thoughts on the matter?

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
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What Does Fleecehold Mean for Buyers in Warrington?

When purchasing a property, you will normally find that the ownership will be leasehold or freehold. However, another term that may be used is fleecehold, which can have a different impact on the property ownership and payment terms.

In this article, we’ll explain what is meant by fleecehold, freehold and leasehold, and what the differences are for buyers in Warrington.

What is Fleecehold?

Fleecehold agreements are known as a combination of freehold and leasehold terms. It usually means you own the land, but you have to pay annual or monthly fees to a third party to maintain it.

These fees are often referred to as estate fees or service charges. They usually cover the costs of maintaining things like communal gardens, private roads or play areas. You will know if the property you intend to purchase is fleecehold if it states it within the contract.

What is Freehold?

Many properties are purchased on a freehold basis, which means you purchase both the property and the land it resides on. This is typically the case when you are buying a house instead of a flat.

When you own the freehold, you are fully responsible for maintaining (and paying for) the property and its land. You also don’t pay annual fees to anyone else to maintain it.

What is Leasehold?

Purchasing a leasehold property means that you won’t own the land the property resides on, even if you purchase the property itself. Because you don’t own the land, you have to pay an annual fee to the person that does own the land (who is known as the freehold or freeholder).

Being a leasehold owner is common with flats or maisonettes where you own the apartment but not the rest of the land or the property. Typically, you can have a single net lease, a double net lease, a triple net lease and/or a ground lease. Each one gives you different responsibilities as the leaseholder and all require some form of payment to be made annually to the freeholder.

What is the Difference Between Fleecehold, Freehold & Leasehold?

There are some key differences between fleecehold, freehold and leasehold properties. When purchasing a property, it’s important to speak to the estate agent to understand which ownership type the property has.

With a leasehold property, you:

• Pay an ongoing fee (usually annual) to the freeholder for maintenance
• Have limited responsibilities around maintaining the property and its land – which are defined in the leasehold agreement

When purchasing a freehold property, you:

• Own the property and the land it resides on
• Are fully responsible for the maintenance of the property and its land

With a fleecehold agreement, you:

• Own the property and its land
• Pay ongoing fees to a third party to pay for maintenance of some of the property grounds, like private roads leading up to the property or communal gardens and play areas

Are You Buying in Warrington?

Understanding the differences between freehold, leasehold and fleecehold is important when buying a property, but the details can be complicated.

If you’re buying a property in Warrington, Hamlet Homes Warrington are your local property experts. Our friendly team of estate agents are here to help you find the perfect home for your situation.

Give us a call today on 01925 235 338 or email us at manoj@hamletwarrington.co.uk to find out more about our Warrington properties.

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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Warrington Household Heating Bills Set to Rise to £111,313,065 in 2022

The energy bills of every Warrington resident will rise in April as the price cap increases to account for the global increase in the cost of gas. Those not on the gas mains will still be hit as the UK uses gas to make 45% of its electricity.

So, what can Warrington residents do to reduce their energy consumption and ultimately save money?

Firstly, let's look at the scale of the costs.

Considering the increase in energy prices from April, the combined energy bills for the whole of Warrington come to …

• £111,313,065 for central heating
• £22,318,925 for hot water
• £12,129,165 for lighting

There are extra energy costs for washing, fridges, etc., yet I wanted to focus just on the home as this is a property blog.

Everyone's bills will be around 50% more expensive in 2022 than in 2021, but it’s not too late for Warrington people to take some quick steps to cut their energy bills and, at the same time, cut our carbon footprint.

Just over a quarter of the UK’s carbon comes from heating and 

lighting our 27.6 million homes, and each UK home produces

4.39 tonnes of carbon dioxide a year.

Upgrading the energy efficiency of UK homes is seen as a vital step to attempting to mitigate the issues of climate change, fuel poverty and our nation's energy security.

So, what are some quick wins for Warrington residents to reduce the energy bills on their homes, and how will energy efficiency play a more significant part in the value of Warrington homes in the future?

1. By turning down the thermostat by 1 degree, the average saving would be an average annual saving of £105.91 per home and each homes carbon dioxide would be reduced by an eighth of a tonne (it all adds up!).
2. Replacing your bulbs when you can with energy-efficient bulbs will, on average, reduce your lighting costs from £172 per year to £103 per year.
3. What time does your heating come on and off? Could it come on later and go off earlier?
4. Smart meters (which are installed for free) are estimated to help lower UK homes’ electricity use by nearly 3% and gas use by 2% … again it’s all margin gains.

These are just a handful of ideas. Check out the internet for others as it's fascinating how much energy we use for overfull kettles, chargers left on and tech on standby etc.

Yet, these things will only scratch the surface … many of us will need to go further, especially Warrington landlords, to retrofit our properties to make them more energy-efficient.

This is particularly important as in June the Government announced they would make the country carbon neutral by 2050, meaning Britain’s homes need some enormous retro-fitting to meet these ambitious climate targets.

In 2018, the Government required private landlords to improve the energy rating of their rental properties by prohibiting the rental of any property with an Energy Performance Certificate (EPC) rating of F and G (the lowest ratings). Yet from 2025, that will be increased to C for all new tenancies and 2028 for all existing tenancies (more on these EPCs below).

I don’t believe there is an appetite to mandate private homeowners to do this work, though you never know in the future.

So, how do you find out about your

Warrington home’s eco-credentials?

Since 2007, every new home that has been built, rented out or put on to the market in Warrington has had to have an EPC, giving it a rating between A and G (rather like those stickers you see on fridges and washing machines).

A is the highest rating (i.e. best energy efficient and greener), and G is the worst efficient rating.

45.3% of Warrington homes are in that eco-friendly A to C

energy performance band rating, compared to the

national average of 40.1%.

So, what next? Well, the Government will attempt to make the green revolution as painless as possible with technology.

In the future, we might have hydrogen central heating instead of mains gas; or have solar panels for electricity, all triple glazed windows and even ground source heating - sounds fanciful? Well, who would have thought some of the most wanted cars would be electric 20 years ago?

There is no doubt that the energy efficiency of our homes will rise in the coming years as the cost of fuel increases and people's opinion on going green changes.

You don’t need to spend thousands of pounds to find out what you can do to make your property greener and cost less. Look at your EPC and it will tell you what small changes you can make to improve your Warrington home’s energy efficiency rating and ultimately save yourself money. If you want to find the EPC rating of your Warrington home, go to epcregister.com.

If you need an EPC, drop me a line as I know some great local energy assessors that can easily do an EPC on your property at a price that won't cost the earth!

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