Monday 27 June 2022

How To Make The Most Of A Seller's Market

Benjamin Franklin once famously said “By failing to prepare, you are preparing to fail.” This rings true for many things in life and is very relevant to the current seller’s market whether you are a seller or a buyer. So how can you ensure that you are correctly prepared in order to make the most of the current seller’s market?

There is lots of paperwork to deal with when selling a property so instructing a solicitor early on in the process can allow you to get a headstart on the Property Information forms. It will also give your solicitor plenty of time to review your Title Deeds and identify and sort out any problems that may potentially cause a problem or delay.

You will also need to find installation certificates and guarantees for any new windows, boilers, wood burners or electrics that you may have had installed and if you have extended your property you will need to produce copies of the relevant consents.

Ensuring that all of your paperwork is in order will allow you to progress confidently and put you in an excellent position when setting a timetable for exchange.

It is wise to manage the expectations of your buyers as soon as you accept their offer. If the sale is dependent on you finding a new property then it is important that the agents convey this to the buyers. Choosing to sell your property and move into a rented property can really give you an edge in this market when looking for a property as you will be in an ideal position to proceed with a purchase but only do this if you can afford the rental and storage costs that this will incur.

In a seller’s market buyers who are in a position to proceed swiftly are valued more highly than those who cannot. In a market where multiple offers on each property are common, anything you can do to make your offer more attractive to sellers is worth doing.

If you need a mortgage then getting an offer ‘agreed in principle’ will show the seller that, subject to valuation, you have the funds readily available.

If you can afford to sell your property and move into a rented property while house hunting you will increase your attractiveness to sellers as you are not in a chain.

Stick to your budget. Don’t allow competition with other buyers to cause you to pay too much for a property. Remember that you should consider future costs such as energy prices and council tax when choosing your property.

It is possible to instruct a solicitor even before you have made an offer. Doing so will allow you to complete the onboarding and identification processes early thus avoiding any unnecessary delays. Providing your solicitor with money on account for searches will allow them to request them as soon as they receive draft papers.

Choosing a solicitor and having them on ‘stand by’ so that you can get the survey that you would like organised quickly is another way of demonstrating to the seller that you are committed to purchasing their property.

If you are thinking of selling your property in Warrington then please give us a call on 01925 235 338 and we will be delighted to come round and give you a free no obligation valuation.

If you are looking for a property to buy in Warrington then please give us a call on 01925 235 338 and we will be delighted to add you to our database of motivated buyers so that you can be one of the first people to hear of our new listings in the Warrington.

Monday 20 June 2022

Six Mistakes To Avoid Making When Selling Your Property

Over pricing

In 2018 Zoopla analysed the data it had on the initial price properties were listed for and their final sale price and discovered that properties that were overpriced can take two months longer to sell than properties that start with a realistic sale price.

One of the key filters on property websites is price so if your property is overpriced fewer people are going to see it and those that do will be comparing it, likely unfavourably, to others in that price bracket.

Inevitably you will have to lower your price as your property remains unsold. Buyers however, are keen to see properties that are new to the market as they believe that there must be something wrong with properties that have been on the market for a while.

Over personalised

You are selling your buyers their future home. If you have covered the walls with posters or personal photos consider taking them down. That way buyers can see the potential of a room without being overwhelmed by the sight of your personal belongings.

Neutral tones

When you put your property on the market you need to remember that if your taste is rather eccentric it can delay you selling your property and maybe even lower the price you eventually get for your home. Buyers like properties that they can put their own stamp on. If you have any particularly garishly decorated rooms do consider redecorating in neutral tones to increase your chances of a quick sale.

Take children and pets out

Potential buyers want to be able to look around your home in peace. Being trailed by children and pets, especially if they are allergic or terrified of your four-legged friends, can not only make them feel uncomfortable but will also ruin their opportunity to look at your home properly.

Clean and declutter

Dirty houses immediately make a bad impression and clutter can make even a large house feel claustrophobic. Take some time to declutter and clean your house. Cleaning windows can increase the amount of light entering your home, if it is evening turn on your lights to create a warm glow. Making coffee and baking bread during viewings are a cliché but the smell of furniture polish and fresh flowers are an easy way to make a home feel loved and cared for.

Choose the right estate agent

Choosing the first estate agent who comes to value your home or selecting an agent simply because they suggested the highest price can lead to problems further down the line. Take time to ask several agents to value your home and discuss with them why they think your property is worth the value they have suggested. Ask for examples of other local properties that they have sold in recent months, the prices they have achieved for them and the length of time that they have taken to sell them. Reviews from past clients are invaluable when choosing an estate agent to trust to sell your property.

If you are considering selling your property in Warrington please give us a call on 01925 235 338 and we will be delighted to give you a free valuation.

Tuesday 14 June 2022

May 2022 Market Report for Warrington

As we leave the Spring market behind and step into the Summer market, a brief look at what’s been happening over the last month in the property market shows some encouraging signs.

There are currently 197 properties available for sale in Warrington. Of these 197, 47 were new to the market in the last two weeks. The average price of properties in Warrington is £246,541 with the median price at £200,000.

Most of the properties available are in the £100,000 to £200,000 bracket. There are also 2 properties available that are priced at over £1 million. Properties in the £500,000 to £1,000,000 bracket sell the fastest, only on the market for an average of 33 days. Properties in the £200,000 to £300,000 bracket also sell fast, only being on the market for 46 days.

Properties priced at £100,000 and under, take the longest to sell at 323 days. This is similar to one-bedroom properties that have a median price of £90,000 and remain on the market for 350 days. This is important to bear in mind if you’re thinking of upsizing or selling an investment property. The timescales involved may be longer than you had first imagined.

Looking at the annual figures shows just how strong, and indeed unusual, the Warrington property market has been.

Properties around Warrington had an overall average price of £252,534 over the last year.

The majority of sales around Warrington during the last year were semi-detached properties, selling for an average price of £236,814. Detached properties sold for an average of £386,016, with terraced properties fetching £174,310.

Overall, sold prices around Warrington over the last year were 4% up on the previous year and 17% up on the 2019 peak of £214,923.

Checking the most recent land registry figures is interesting, albeit a couple of months behind as it refers only to completed sales. In March 2021, 40 detached Warrington homes were sold compared to only 4 last March. Semi-detached homes show a similar change from 54 to 19. Terraced properties sold 78 last year and only 16 this year.

This reduction is not a sign of a crash or anything so dramatic. It is merely a slowing and, hopefully, a sign of the market starting to correct itself. This should mean that demand and supply are more balanced and prices settle once again.

If you’re looking for further information about the Warrington property market, please feel free to contact us. If you’re thinking of selling or buying, letting or renting a Warrington property, please don’t hesitate to get in touch. You can call 01925 235 338 or email

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

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Thursday 9 June 2022

The 6 Reasons Warrington Rental Properties Could Inflation Proof Your Savings?

  • Inflation (and recessions) can be nerve racking for people and their hard-earned savings and wealth.
  • Yet there are six reasons which make investing in private rental properties a potentially wise investment in these changeable times.
  • This article looks at how investing in Warrington property could help you 'hedge' against inflation and protect your savings and wealth against the possible recession.
The cost-of-living predicament is threatening the budgets of many Warrington householders.

Inflation is running at 7.8%, yet the best savings rates in the market are only 2.75% (because of low Bank of England interest rates). This means that the value of people’s savings is falling fast.

To add insult to injury, the possibility of a recession on the horizon could add another nail in the coffin of people’s wealth and savings.

Looking back at the last recession (ignoring the 2020 Covid recession), the Stock Market (FTSE index) dropped 40.1% during the Credit Crunch (2008/9) - scarcely a soothing thought if you worry about a recession looming in the next couple of years.

A recession can have a catastrophic impact on household budgets, as a weaker economy characteristically means that salaries drop, and people get made redundant.

So, why do I suggest Warrington rental properties will help to
protect your wealth and hedge against inflation?

Warrington rentals aren’t perfect, yet in many ways, they go a long way to help – let me tell you why.

1. One of the most significant benefits of investing in residential property is to hedge against inflation. An ‘inflation hedge’ is an investment that defends against the decreased purchasing power of your money that results from the loss of its worth/value due to inflation.

The last time the UK suffered high and persistent inflation was the 1970s.

In 1973, the average British house was worth £9,942. In 1980, that same house was worth £23,287. If the same £9,942 had been invested instead in the stock market in 1973, it would have been worth £19,384 in 1980. 

So how did that compare to inflation?

Neither property nor the stock market beat inflation in those seven years (as the goods and services of that £9,942 in 1973 had risen to £25,897 by 1980).

But investing in the stock market between 1973 and 1980, that stock market investor would have lost 25.2% of their investment in 'real terms’, compared with only 10.1% for property investors.

However, there was the bonus of seven years’ worth of rent!

To give you some idea of what that would be worth in today's figures (even if the rent didn't go up during that time frame) ...

The average Warrington landlord will earn £70,728
in rent over seven years.

2. Rental properties have repetitive, regular monthly income, whilst dividends from the stock market are dependent on there being profits which, in a recession, can be hit and miss.

3. Existing Warrington landlords know that the rents their rental properties achieve don’t historically decline during recessions in the medium term.

In 2008, Warrington rents dipped by 5.2%, yet they soon
bounced back a year later.

And even if average rents do go down, every rent is fixed at the start of the tenancy. Also, it 
is infrequent for a tenant to negotiate a reduction in rent mid-tenancy even if average rents 
did drop.

4. Property prices sometimes fall during recessions.

In the 2008 Credit Crunch recession, Warrington
property values dropped 20.9%.

Dropping from £172,562 at the peak in November 2007 to £136,426 in February 2009 
(before they started to rise again).

Yet as I stated above, the Stock Market dropped 40.1% with the Credit Crunch. Also 
previously, the Stock Market dropped 36% on Black Monday before the early 1990’s 
recession and 55.3% in 1974.

Which sort of drop would you prefer?

5. (Almost) guaranteed rental payments. Insurance can be taken out for rental payments (you can’t get that on stocks and shares). Also, the government will cover most (or all) of the rent when someone is made redundant and needs to apply for social security.

6. For those Warrington landlords who take a mortgage, inflation can be a benefit. The first is the effect of inflation on mortgage debt. As Warrington house prices rise over time, it reduces the loan to value percentage of your mortgage debt and increases your equity. You will receive a lower interest rate when you re-mortgage in the future because of the lower loan to value percentage.

Also, as the equity in your Warrington rental property increases, assuming you fix your mortgage, your payments stay the same.

Finally, inflation also helps Warrington buy-to-let landlords because rents tend to increase with inflation. So as rents go up, your fixed-rate buy-to-let mortgage payments stay the same, creating the prospect of more significant profit from your buy-to-let investment.

Yet, there are downsides to renting.

Rent arrears can be a worry though. However, during 2021, landlords who used a letting agent were, according to an investigation from Denton House Research, 272.5% less likely to be in arrears of two months or more.

One of the biggest reasons is the more stringent tenant referencing that letting agents tend to do compared to landlords who do it themselves. At our agency, we like to reference tenants carefully for job security, stability, and any history of non-payment on rents, always liaising with previous landlords/agents to see if they were a good tenant.

That is why many tenants with a poor tenancy record are attracted to properties that are not through agents, as they know most (not all) DIY landlords don’t reference their tenants as thoroughly as letting agents do. Solid referencing is not a 100% guarantee you won’t get rent arrears or have your rental property trashed, yet it will go a long way to mitigate it.

One of the things about investing in Warrington rental properties is that buy-to-let investors have more control over their returns than stock market investors do. Buy-to-let provides long term stability and constant income to counterweight the massive swings seen in the FTSE stock market.

There is something reassuring about touching and feeling
your investment – the 'bricks and mortar’.

You must make your own decision when investing in the private rental market in Warrington. If you'd like to chat over the phone for five or ten minutes to discuss where I would be investing in the Warrington property market, don't hesitate to send me a message or pick up the phone.

How are you planning for the spectre of a potential recession?

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 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.

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

Monday 6 June 2022

Seven Things That Every Landlord Needs To Know


We have many years of experience looking after landlords and their tenants in Warrington and our experience has taught us that whether you are an experienced landlord or are just starting out there are seven things that it is very important for you to know.

1. Choosing the right agent

This is without doubt the most important decision you will make as a landlord. A good letting agent will ensure that not only is your property well looked after but that your tenants are too which will lead to less rental voids. Take your time selecting an agent, read their testimonials from other landlords and always ensure that you are happy working with them before going ahead.

2. The right price

All tenants are looking to rent a property for a competitive price and good tenants tend to have their pick of rental properties. A good letting agent can help advise you on the correct amount of rent to charge for your property. Remember setting the rent too high will likely result in a rental void while you are looking for a tenant so don’t shoot yourself in the foot by being greedy!

3. Have an emergency fund

It is wise to have some money saved to cover unexpected costs such as a new boiler or a rental void. If you do not have some money put aside to help you through a rental void you may feel under pressure to accept an unsuitable tenant just in order to have some rent coming in.

4. Insurance

Landlord Insurance is an essential when you rent out a property. It will typically include rent and legal protection so that you are covered for any legal disputes with your client and will also cover you for lost rent if your tenant defaults.

5. Legal obligations

There have been massive regulatory changes in the last few years. Small mistakes can have large financial repercussions so if you are finding it hard to keep on top of them, consider using a letting agent to manage your property to reduce the stress on you.

6. Buy cheap, buy twice

It is usually far more financially beneficial in the long run to buy good quality materials in order to carry out repairs/refurbishments instead of buying cheap ones that have a shorter lifespan and will therefore need replacing/redoing sooner.

7. Understand your tenancy agreement

Ensure that you have read and fully understand your tenancy agreement and have made sure that it is appropriate to both your property and your circumstances. A good letting agent will always be happy to answer any queries that you may have.

If you are considering renting out, or are already renting out your property in the Warrington area and would like some more advice or to discuss how we can help you to rent out your property please do not hesitate to give us a call on 01925 235 338.