New House Vs Old House? Here’s How to Choose!

Out with the old and in with the new? Or, out with the old and in with the old?

Moving house can be wonderful but how do you choose where you will be living next?

Do you go for the period property with the character and quirks in need of a little love and attention, or do you opt for the new house with the ensuite, the study space and the double garage?

Choosing your next home in Warrington is a big decision. It’s a huge investment and so it must be right.

At Hamlet Homes Warrington we’ve seen our fair share of old and new, so let’s look at what you should be considering when choosing.

What do you really want?

We speak with people all the time who know exactly what it is they want! However, equally, many don’t. So, what do you want from a new-to-you property?

• Do you want a ready-to-live-in house?
• Would you rather have a property where you know you will need to do some work?

Write the pros and cons of new and old and have a good ponder on the type of house you want.

Do you have the skills?

You may have decided that you want a doer-upper. You know the type. External walls need rendering, a rewire is required, new bathroom suite, the kitchen needs replacing…

But do you have the skills to do the work?

If you do, then great.

Do you have the time?

If you do, then greater still.

If you don’t, then this should steer you away from a house that needs work unless you have the budget to pay for professionals. If you’re going to bodge it, will it really become the home of your dreams? Unlikely! So, think carefully before taking on too much.

Is money no object, or are your finances tight?

Budgets play a huge part in any project, whether it’s a house you are renovating, or a new property that needs carpeting or decorating to your taste.

If you want to renovate, have you worked out all that you need to do, whether that’s materials or labour costs? And what about a contingency fund? What you don’t want to do is have a list of things to do and then forget important aspects which mean the budget is smashed through the roof.

You can of course renovate on a budget, but if you have not fully costed everything, you may be in for a shock.

New can mean brand new!

A new home is so easy to move into. You can practically unpack, add furniture and be having a cuppa within an hour or two!

If it is brand new, then there should be warranties on white goods or on the building itself, giving you peace of mind so brand new can be an ideal option if your skills are limited, your budget tight, and, to be honest, you don’t want to renovate a property.

Is an older property better?

Many older houses are perceived to have been better built than newer ones. It’s true, they might have more substantial building materials used in the construction process, have intricate tiled patterns, more spacious rooms, larger gardens, or handmade bricks.

But… newer homes will have up-to-date environmental standards, materials sourced from environmentally conscious suppliers, have better insulation, and have electric and plumbing systems that are unlikely to require replacing.

There are always going to be pros and cons to any house you buy, whether it’s an old one or a new one.

Right now, we don’t know what your requirements are, so come and talk to us and we’ll be able to help you make the right choice. In Warrington we’re lucky that we have old and new properties coming to market, so we could have the ideal house for you.

What do you prefer, old or new?

Call us on 01925 235 338 or email manoj@hamletwarrington.co.uk and let us know what you’re looking for.

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
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5 Amazing Lighting Tips to Help You Sell Your Home in Warrington

There are so many different tasks to take care of when selling your home in Warrington, from getting all the paperwork done to packing your old home up, to finding the right estate agent to help you sell it. Just when you think you’ve got everything covered, you find something else that needs taking care of.

Selling a property requires some effort on your part! After all your hard work into preparing your home for sale, you don’t then want your work to be sabotaged by the one little detail that so many people overlook: the lighting in your home.

When you’re trying to sell your home, first impressions make all the difference. Homes that are poorly lit and dark are less appealing to potential buyers. Low lighting makes the space look and feel smaller, colder, uninviting, and dingy, even if it isn’t. It can also look as though you are trying to conceal some kind of flaws in the shadows, which can be a huge turn off for buyers.

Good lighting is crucial, but if you don’t have the time or the budget to overhaul the lighting in every room of your home, have no fear. You can still improve your lighting situation and in turn, increase the likelihood of your home being sold sooner.

Here are five great lighting tips to help sell your home.

1. Audit each room’s lighting

The first step to take is to check out how each room in your home fares when it comes to it’s current lighting. Open all the blinds, pull back the curtains and turn on all the lights, then do a walk-through of every room in your home. You also might want to do this at a few different times during the day since viewings can happen from day right through to the evening when it’s darker. Try it in the morning with the morning sun, in the afternoon in full sun, in the evening at sunset, and then once the sun has completely set. It’s also a good idea to try it on rainy or cloudy days.

While you’re conducting your audit, put yourself in your potential buyer’s shoes and think about what they would think if they were walking through. Take note of any areas that are lit very well and any areas that need more lighting. If it helps, use your phone camera to take photos to highlight which spaces need some work.

2. Remember exterior lighting

Don’t forget about your home’s exterior lighting! Your home’s kerb appeal is important no matter what time of day. Consider that potential buyers could drive past your home at any time, or evening passers by could see the ‘for sale’ sign in your front garden. You want to make a good impression on these people, so keeping the exterior of your home well lit is crucial. The front porch and path leading to the door should be lit well to make your home look warm and welcoming. If you have a garden or patio, it should also be lit to help make the space look inviting and to highlight any features that are worth seeing.

3. Upgrade your current fixtures

Most home buyers are willing to accept that there will be some improvements needed once they move in, but the more work you’ve done for them, the more appealing your home is. This includes any dated light fixtures or fittings that don’t work anymore.

You also may want to consider upgrading your lightbulbs to LED lights which have less of an environmental impact, generate less heat, and allow you to get longer use out of your bulbs.

4. Use tricks to help brighten dark spaces

Sometimes your lighting may be fine but wall colours or decoration dark, making the rest of the room feel gloomier and smaller than it actually is. To combat this, you can address those problems directly by repainting and changing the colours. If you don’t have the time or the budget to go that far, you can take a few other steps that are quicker and easier.

Strategically placing mirrors to help reflect light can help the room seem brighter and more open, especially in rooms with small windows or windows that don’t actually offer much natural light. Additionally, adding bright or light coloured cushions, blankets, pictures, or rugs can help brighten up your space in an instant.

5. Add more lighting if needed

When all else fails, adding extra lighting in dark spaces will be sure to do the trick. Table lamps and desk lamps can be stylish ways to bring more light into the room while adding accent lighting can help create or highlight an existing focal point. If you want to take it to the next level, under cabinet lighting, tread lighting for dark stairways and track lighting for shadowed ceilings will definitely brighten up the whole space.

If your property is for sale or you are thinking of selling your home, why not try some of these lighting tips today and ensure you create a lighter, brighter space ready for viewers. For further property related advice, contact the team at Hamlet Homes Warrington on 01925 235 338 and we will be delighted to offer you professional guidance.

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

Renovating to Sell for a Profit: The Party Wall Act

If you are renovating a property in Warrington before sale, you need to be aware of the impact of the Party Wall Act and the implications for you if you don’t follow the rules. A Party Wall is a wall which sits on the boundary between two properties and includes:

• The wall between two terraced houses
• The middle wall in a pair of semis
• The boundary wall between two gardens
• The horizontal “wall” between floors in a block of flats. Here it is called a Party Structure, but the rules still apply.

If you live in England or Wales and you are doing works to your property and you share a wall (or structure) you probably need to serve a Party Wall Notice on your neighbour. The process is meant to stop disputes, but is also to help people resolve them if they do arise. Works include:

• Any work to the wall between terraced and semi-detached houses
• Any work to a shared “party structure”
• Any work to boundary walls
• Excavation works or underpinning within 6 metres of the party wall
• Loft conversions that mean cutting into a party wall
• Inserting a damp proof course into a party wall
• Making the party wall thicker or higher
• Building a second storey extension above a party wall

The Notice must include full details of the works you are doing, give your neighbour at least two months’ notice of the works starting and say what, if any, access you need across their property to get the works completed.

Works that don’t need a Party Wall Notice:

• Drilling into the wall internally to fit kitchen units or shelving
• Having the wall plastered
• Adding or replacing electrical wiring or sockets

Once you have the specification of work from your builder, or a list of the works if you are doing them yourself, you should write to your neighbour and make it clear that this is a Party Wall Notice.

They will either write back and say they are OK with everything, write back and say they don’t agree (and maybe say why), or not respond at all.

If either of the latter two, then you will need to appoint a Party Wall surveyor to represent both of you. The surveyor draws up the Award (see below). It is important to note that although the Party Wall Surveyor is instructed by your neighbour, they are not acting for you. Their role is the protect the Party Wall or Structure and they answer only to the Courts.

Your neighbour can have a different Party Wall Surveyor if you wish, the only downside to this process is that you will pay both lots of fees.

What is the Party Wall Award?

The Award is a basically description of the works, how they will be carried out and who pays the surveyor’s fees, which in this case will be you.

Why would I bother with the Party Wall Notice?

There are many occasions when people just get on with works, don’t bother serving the Notice and hope that everything goes smoothly and the works are finished before anyone has a chance to do anything about it. Some people are just averse to paying professional fees!

Once the works are completed there is nothing neighbours can do about the Notice or an Award, the rules are not retrospective. But there are advantages to you in having an Award in place:

• It massively reduces the risk of disputes as the works are done.
• Everyone has agreed upfront what the works will be and how they will be done.
• If you need access across your neighbour’s property, whether that is garden, roof, or to put scaffolding up on their property, the Award will give you the right to do so.
• If your builder damages their property during the works the Courts take a dim view if you have failed to serve Notice and put an Award in place. They have a good chance of successfully suing you for damages (and trespass if you have accessed via their property without consent). If there is an Award in place then it gives you more protection and the Party Wall Surveyor/s should be able to resolve any disputes along the way.

There is of course a lot more in the detail but if you start work and your neighbours know nothing about it, they may come and talk to you and you can sort it out amicably. On the other hand they might just go straight to their solicitor and get an injunction to force you to stop work.

The cost of that could put your profit in jeopardy.

So don’t take the risk, get a Party Wall Notice served and crack on!

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Above all, please continue to stay safe.

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

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

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

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

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Has Your Property Been Under or Overvalued? How to Ensure Your Estate Agent has got the Asking Price Right

                               

When you put your property on the market, you put your trust in us – the experts you have chosen. We have the details, we know your expectations, and our aim is to get you moving as soon as possible.

Sometimes, different agents will come to other prices and of course, there are reasons for this, such as an estate agent simply trying to win your business or perhaps a different level of experience and knowledge.

When talking with home movers in Warrington, we’ve discovered that many people do indeed wonder about whether or not their property has been priced correctly. You’ve probably heard phrases like “priced to sell”, but how do you really know if your property has been undervalued or indeed overvalued? And why does it matter?

So, let’s look at how you can tell whether your property is on the market at the correct price.

What is the Right Price?

In some respects, this is the million-dollar question. Is your property in Warrington priced on the low side to sell quickly, or is it priced relatively high so that you can potentially make more money? Well, actually, the right price is only ever about what you and the buyer agree to so that a sale can move forward. No other prices really matter!

Top Tip: Define what price you want or need to sell your house for and if you are prepared to lower your expectations if the need arises.

Is my Property Overpriced?

Are you frustrated because you seem to get a lot of viewings but no offers? Well then, one of the reasons could be that your house has been overvalued.

Potential buyers might like the look of your house in Warrington

but fail to view because they feel the asking price is too high. They may view, and they may love it but still feel it’s not worth the price-tag. Not all potential buyers will feel they can risk putting in a low offer either.

If you are enjoying lots of viewings but no offers, these are clear signs that something may need tweaking, particularly if similar properties nearby have sold.

Top Tip: If you do feel things need to change, do not be afraid to speak with your estate agent. After all, it’s in their interest to get a sale, so if their strategy needs to change, it should.

Is my Property Undervalued?

To define undervalued, you have to look at a few different factors, including how much you are prepared to sell your house in Warrington for. You might get an offer, or multiple offers, super quickly and this may worry you into thinking you could have achieved a higher price. But that is not necessarily the case. A good estate agent will ensure your home does not stagnate on the market!

Conversely, if you are getting no viewers and your property is on the market at a lower price than similar homes which have sold nearby, an under-valuation might be making people wonder if there is something wrong with your property!

Top Tip: Do some research of your own into similar properties on the market in Warrington. If yours appears obviously low, speak to your estate agent.

Do Your Own Research

We at Hamlet Homes Warrington use our local experience and knowledge to advise you of what we think your property is worth. Sometimes though, we suggest having a look on the internet yourselves as well, this can give you peace of mind that we’re on the right track.

There are so many tools at your fingertips, and you should use them!

Go to the search engine of your choice and search for house prices in your area. There are sites that not only give you properties that are currently on the market but also offer up what a property has sold for in the past too.

You could also make use of online valuation tools if you want a second opinion. However, bear in mind that these are not always accurate, and it’s best to speak to professionals who have local knowledge and experience.

Top Tip: Compare similar properties in Warrington

as you’re likely to get a good comparison. If you compare a similar house, but in different localities, then different factors will affect prices.

What Next?

Speak to your agent. We cannot stress strongly enough that communication is key. If you have concerns and you’ve done some research, then talk to your estate agent. Maybe it’s time to review how they are operating and whether or not they need to change.

Top Tip: Don’t be afraid to ask the questions and challenge. It’s your property that you are selling; you are in the driving seat.

Hamlet Homes Warrington use our skill, experience and local knowledge to place your property on the market at the right price. If we can help you, give us a call on 01925 235 338 or email manoj@hamletwarrington.co.uk and we will be delighted to help.

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

As Unemployment Hits 5.1% in Warrington, What Effect Will This Have On The Warrington Property Market in 2021?

12 months ago, the unemployment rate in Warrington stood at 2.4% of the working population, yet with Coronavirus hitting the UK, what impact will this rise in unemployment have on the Warrington property market?

As I have discussed a number of times in my articles on the Warrington property market, this summer saw the Warrington property market do exactly the opposite of what was expected when Covid hit.

The Stamp Duty holiday added fuel to pent up demand for people to move to property with extra rooms (to work from home) and gardens. This prompted a brief hiatus in the number of people selling and buying their home in Warrington over the last summer and autumn.

Yet, insecurity around rising unemployment, led to many mortgage companies becoming more cautious in the later months of summer, predominantly when lending to the self-employed or first-time buyers borrowing more than 85% of the value of the home (as they wouldn’t want to lend money to someone that could not afford a mortgage due to an insecure income or not having a job.

Back in the late spring, economists were predicting that UK unemployment would rise to a peak of 6.5% in Q3 2020, returning back to the 2019 levels (3.4%) by 2022.

As we speak (Christmas 2020), nationally the unemployment rate stands at 6.3%. The toll Covid has had on people’s livelihoods has been massive, with an additional 1,434,515 people out of work, although it is important to note this unemployment rate is still lower than the five years following the Credit Crunch years - 2008 to 2013.

So, with such a growth in unemployment and the spectre of a ‘No Deal Brexit’, this may hold back the enthusiasm of many companies to take on more staff, reducing any rebound in employment. If unemployment remains high, this will influence perceptions of employment and personal/household financial security, which are the ultimate drivers for both house prices and whether people buy and sell.

3,255 Warrington people were unemployed a year ago,

today that stands at 6,720.

Looking at all the study papers on the topic, there is a link between unemployment and house prices, yet it’s not as strong as you would think. The larger factors are the demand and supply of property on the market and interest rates. Interestingly, in the past two recessions, the comparatively richer regions of London and South East house prices have been more sensitive to unemployment and house price changes than the rest of the UK, yet London and the South East also bounced back quicker and higher after the two recessions.

The concept behind this is that more expensive house prices in the South drop more than lower priced houses in the rest of the UK. Why? Because those more expensive regions have, by definition, more expensive house prices meaning the homeowners have higher mortgages, so if they become unemployed, their homes are more likely to be repossessed (because of the high mortgages), and consequently that reduces house prices in that area quicker because repossessed houses tend to sell much more cheaply compared to normal house sales.

The health of the Warrington property market in 2021 and beyond really depends on what happens to the economy as a whole and more specifically what is happening in the Warrington economy.

When we drill down though, unemployment has hit different sectors of the economy to a lesser or greater extent. For example, for office workers, people who work in tech & sciences and the professional services, the impact on jobs has been comparatively mild, with many personnel able to work from home. Yet for others, such as those who work in the hospitality, leisure, retail, entertainment and catering industry, remote working is simply not an option and these have been hit the hardest.

Unfortunately, the industries mentioned above are the ones that tend to employ the younger generation, who invariably live in private rented accommodation, rather than own their own home. Being made redundant puts their dream of buying their first home back even further as they try and get themselves back on their feet by initially finding a job (let alone save for a deposit).

Housing markets will recover quickest in towns and cities, where jobs are in more resilient employment sectors.

For example, in London, unemployment jumped really quickly (and high) in 2009 with the Credit Crunch, yet came down just as quick in 2011, just as the property market in London started to take off, whilst in Warrington, it took a lot longer for unemployment to drop and the Warrington property market didn’t really start to get going until 2013/4.

If we have a determined economic contraction, with a lengthier and leisurely economic recovery, impeded by financial stress, that will lead to much higher unemployment in the 10% to 12% range in the summer of 2021. However, before I get to the initial question, I need to highlight another interesting fact, because …

what is particularly interesting is the increase in unemployment in Warrington amongst men has been higher than women, with a growth of 3.2 percentage points for men compared to 2.1 percentage points with women.

So, what is the prediction for the Warrington property market under the cloud of this growth in unemployment?

One massive redeeming factor that could just save the Warrington property market is low interest rates. This will keep mortgage payments low, meaning repossessions should be kept to a minimum (therefore there shouldn’t be a flood of cheaply priced Warrington properties coming onto the market all at the same time and dragging Warrington house prices down with it, as it did in the previous two recessions of 2009 and 1989).

Yet, irrespective of the ultra-low interest rates, I still consider property prices in Warrington at Christmas 2021 won’t be much different from today, and in fact could be slightly lower.

This is because people have been paying top dollar in the last six months to secure their dream Warrington home, quite often spending the money they saved on Stamp Duty on the purchase price. When Stamp Duty Tax returns in April 2021 there will be less money to pay for the property ... thus Warrington property values will be, by implication, lower in a year’s time.

What about Warrington landlords and the rents?

Nationally, rents fell just over 2.3% between 2008 and 2010, following the Credit Crunch, while national house prices fell 15.9%. I anticipate Warrington rents will also remain comparatively robust in the coming months and years.

Rents are very much tied to the rise and fall of wage growth and I can’t see why this relationship shouldn’t continue. Rents will rise in Warrington by between 13% and 15% in the next five years, yet if property prices do rise in 2023/24, that means future rental yields will be marginally lower in 2023/4 comparative to today, especially as ultra-low interest rate expectations (according to the money markets) seem to be here to stay for a long time.

Therefore, something tells me there could be some interesting Warrington buy-to-let investment opportunities for Warrington investors willing to play the Warrington buy-to-let market for the long term.

To conclude, these are just my personal opinions. If you are a Warrington landlord looking for advice and an opinion on what to buy to maximise your returns, please don’t hesitate to contact me. If you are a Warrington homeowner, looking to buy or sell and need any advice or opinion on where the market is and where your Warrington home sits in the bigger Warrington property market picture – again feel free to drop me a line.

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

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

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

CLICK HERE TO FIND OUT HOW MUCH YOUR WARRINGTON HOME IS WORTH FOR FREE
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How To Not Lose £20,000 Of The Value Of Your Warrington Home

 

Talking of price, or more specifically the asking price. There is a window of opportunity for Warrington homeowners to take advantage of this stamp duty tax cut, yet don’t let local estate agents curry favour with you by tempting you with a high initial asking price to win the right to put their for sale board outside your Warrington home.

A Which report stated in 2017 that many estate agents routinely over inflated the asking prices of the properties they brought to market. One might ask why this is an issue for Warrington property sellers, as surely, they can just reduce their asking price at a later date? The excellent report proved that those estate agents who on the face of it appear to be doing you some kindness by endeavouring to get more for your home with a suggested higher asking price, the property often ended up selling for much less than similar properties that were realistically priced properties from day one and also, they ultimately took longer to sell!

This Which report compared the original asking price with final selling prices for 370,000 properties to ascertain how many estate agents had reduced the initial asking price of properties in order to sell them. Which found that 70,300 (19%) of all 370,000 properties sold had to be reduced by at least 5% in order to get the property sold, whilst the other 81% (299,700) had no or very minimal reductions to get them sold.

Of the 299,700 sold properties that weren’t reduced or reduced by less than 5%, the average initial asking price was £261,000, yet they eventually sold for an average sale price of £260,000. For those 70,300 homes whose asking prices were reduced by over 5%, whilst the average listing price was £266,000, their eventual sale price was only £241,000, a loss of £20,000 each. Even worse, those properties with the heavy price reductions (5% or more) took an average of nine weeks and one day longer to sell (when compared to the other properties with no or minimal reductions).

What that means is by over inflating your initial asking price of your Warrington home, it will cost those Warrington homeowners an extra nine weeks to find a buyer and they will lose out on the final sale price by some considerable margin (meaning you will also probably lose out on the stamp duty holiday).

Assuming your asking is price is realistic, you aren’t out of the woods yet. Other things that will help you get the best price for your Warrington home in the best possible time (and thus save you money with the stamp duty holiday) are …

• · Everyone searches on the portals for their next home. Photos are therefore very important (a picture speaks a thousand words). If the weather isn’t good on the day of the photoshoot, ask the agent to revisit when the sun is out (and even tell them to hold off marketing the property until those pictures are perfect)… as you only get one go at being ‘new to the market’, with all the excitement and interest that causes.

• · Employ the services of a solicitor at the same time as instructing the estate agent. Bringing together the legal paperwork of the property you are selling. By doing so, you will save weeks between the sale agreed and completion. Also, solicitors will be really busy, juggling many property transactions at the same time in the next 200+ days. Anything you can do to get a head start on others can only help your cause.

• · Kerb side appeal. Look at your property from across the road. Does the front door need painting? Could a tonne of gravel spruce up your driveway? Maybe adding some hanging baskets and planted pots will help to make a home stand out for the best reasons?

The final piece of advice I can give you is if you are planning to sell your Warrington home, make sure your Warrington estate agent can show you proof of similar Warrington properties and what they actually sold for to back up their suggested asking price. If the asking price isn’t realistic, the chances are you end up losing many thousands of pounds and wasting everyone’s time. If you would like to chat about selling your Warrington home, please do not hesitate to pick up the telephone.

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’s Next for the Warrington Property Market?

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There is no doubt that Coronavirus will affect the Warrington property market, but just how?

The ensuing economic challenges are going to impact the Warrington (and UK) property market, yet no one knows the real answer. The newspapers eulogise different opinions, but that's all they are – opinions and everybody's got a different opinion. The truth of the matter is we don't know and won’t know for another few months at least, if not more?

There have been some outstanding Government supportive measures both for tenants, landlords, home buyers and sellers (including a pause on evictions for tenants, and for landlords and homeowners, mortgage payment deferments and stamp duty reductions to make buying a home cheaper), and whilst these are only temporary, they have done their job, meaning there is a good level of activity in the Warrington property market.

A lot of that is pent-up demand from a couple of years of uncertainty because of Brexit. Also, we had the General Election in late 2019, so there have been so many reasons for people to sit on their hands. At the beginning of 2020, it was like a water hose ready to burst with the Boris Bounce in January and February. Then, just as things were beginning to get going in the Warrington property market, we had everything freeze up for months during lockdown. So, since lockdown has been lifted …

the Warrington property market is open once again for business and there is unquestionably some impressive activity both in the sales and rental market

So, back to the original question and where are we going? I think what we will see is a subtle change to where people want to live because of the pandemic. People working from home has shown that the need to be in the big cities has reduced and as employees have realised, they can work very efficiently from home, plus they are happier and have a better work/life balance. Their employers are also happy as they get more work out of their staff and can reduce their costly office footprint in the cities. The same goes for Warrington tenants as they are wanting more from their rental homes. Three trends we have noticed is there is greater demand for properties with gardens, greater demand for Warrington landlords who will accept pets (as they now can have them as they work from home) and finally, tenants willingness to pay top dollar for ‘top of the range’ properties, whilst more basic and uncared for properties without all the ‘bells and whistles’ need to go for a discount. There certainly has been a flight to quality.

Yet, what worries me is the fundamental future uncertainty in 2021 and beyond. What will things look like say in spring 2021 when the Stamp Duty reductions are phased out? Any property sold needs to have completed by the end of March 2021 to take advantage of the tax holiday, meaning you need to have sold your Warrington property by November 2020 at the very latest to ensure your property purchase and sale deal goes through in time (as it is taking on average up to 17 weeks between sale agreed and completion). This is where the

difference between a great solicitor, brilliant estate agent and awesome mortgage broker compared to average ones will show. Good ones, when all three are working together for you, can get the sale through in 6 to 8 weeks, not the national average of 17 weeks, meaning if you are cutting it fine, you might not be able to take advantage of the tax savings in the Spring. Give me a call if you want to know who the best of the best in Warrington are to ensure you don’t lose out on those tax savings. 

The value of the average Warrington home

currently stands at £198,500

So, what is going to happen to the Warrington property market? It really depends on the economy as a whole and of course the property market is a large part of that. I know one thing that buy to let landlords and home buyers don't like is ambiguity and the British housing market has always lived and breathed on emotion and sentiment. People will only buy and sell property (and borrow the money to make those transactions happen) when they feel good. Are all these things like Stamp Duty holidays just putting off the inevitable? Are we heading for the mother of all property crashes?

Well, let me put sentiment and opinion aside for a second and look at the simple facts. We have an increasing population, yet we don't build enough houses

Since 1995, we have built on average 150,200 properties per year. The Barker Report said 2004 the country needed 240,000 per year to satisfy annual demand for new homes and whilst the number of new homes built in the UK last year rose 1% to a 13-year high, only 161,000 homes were built. That means over the last 25 years, with the difference between actual homes built and the targets set out in the Barker Report, we have an inbuilt shortage of 2,245,000 fewer homes, meaning.

Since the Millennium, property values in

Warrington have increased by 154.9%

Other factors have contributed to that. The average age of a person leaving their parents’ home in the UK is 24.4 years and that has been dropping for a few years meaning more homes are required. People are also living longer (in 2000 the average person lived until 77.7 years and now it’s 81.1 years – doesn’t sound a lot until one considers for each additional year the average person lives in the UK, we need an additional 356,500 homes). Finally, we have got immigration. In the year ending March 2019, 612,000 people moved to the UK (immigration) and 385,000 people left the UK (emigration) – meaning a net increase of 227,000 people (or a requirement of c.100,000 homes to house them in one year alone). All those factors in themselves mean …

we have more demand for Warrington property than we have supply and that's not going to change any time soon.

Property markets are driven (like all markets) by supply and demand so I believe Warrington property values can only rise in the long term. The question is whether Warrington people will have the sentiment and confidence to borrow money on a mortgage and invest in Warrington property, yet at the moment with ultra-low interest rates, borrowing money to buy a home has never been so cheap and if you are in it for the long-term (which you should be with property) then I think it's good news.

One piece of good news is that mortgage lenders are willing to lend up to 90 per cent loan to value mortgages for first time buyers (and in some rare cases 95 per cent), albeit with a lot of strings attached … yet this is a good sign as the banks and building societies wouldn’t be lending at these levels if they were too scared.

Investing in property, be it for yourself to live in or buy to let is a long-term game. We might see an uplift in prices in the short term because of the demand mentioned above, then again, we might see a dip in 2021 ... yet again for the reasons mentioned above - until we start to build new homes to the scale of 300,000+ a year (something that has never been achieved since 1969), the long-term picture appears to be good. Be you a Warrington landlord, Warrington house seller or Warrington buyer, you have to be a lot more strategic and thoughtful about what you are going to do. If you would like to pick my brains, drop me a message on social media or pick up the phone.

So those are my thoughts, tell me your thoughts for the future of the Warrington property market?

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
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Every Warrington Homeowner & Landlord to Receive Up to £5,000 Grant for Roof Insulation & Double Glazing from September

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What you need to know

The Chancellor announced on Wednesday 8th July in his mini Budget some interesting news for Warrington homeowners and Warrington landlords. Rishi Sunak is going to give ‘The Green Homes Grant’ of up to £5,000 to cover two-thirds of the costs of environmentally friendly upgrades to your Warrington property, with the homeowner covering the other third. There are also enhanced grants of £10,000 for the poorest households where 100% of the cost will be met by the Government.

This is nothing new mind you. The coalition Government in 2013 announced The Green Deal. That deal was in theory to have been a help for the builders, energy saving and home improvement industry, as the Government hoped many would take up environmentally friendly improvements to save energy (and ultimately greenhouse gases). Yet by the time it was brought to an end two years later only 14,000 households had applied, costing the taxpayer £238m (or £17,000 per household). That doesn’t sound good value to me - yet who am I to comment?

Anyway, let’s not be negative, as improving our homes does makes sense - after all, research shows Brits have the draughtiest homes in Europe. A recent survey suggests UK homes “leak” heat up to three times more quickly than more energy-efficient homes on the continent.

Data from 80,000 smart thermostats across the EU were reviewed to measure how quickly a home at 20°C inside cooled once the heating was turned off (when the outside temperature was 0°C). Within 5 hours, the average British home dropped by 3°C, the French came in second at 2.5°C yet the Germans came in at just 1°C, meaning British homes clearly need more heating (i.e. greenhouse gases) to keep them warmer.

The chancellor has allotted £2bn to the scheme, which pays for two thirds of the cost of the upgrade and stated that more than 650,000 homes would be upgraded. This could save those households a total of £195m a year in heating bills (or the equivalent of £300 a year per household), cutting greenhouse gases and saving jobs in the construction industry. The grant can be applied for from September and is open to Warrington homeowners and private sector Warrington landlords. Applications must be made before March 2021 and the Treasury have stated about half of the fund would go to households with the lowest incomes (how low is still to be announced), with an enhanced grant of up to £10,000, saving them up to £600 per annum each on their heating bills.

The average Warrington home annually produces 3.785 tonnes of CO2, compared to the national average of 4.101 tonnes

Due to the particular individual nature of the properties in Warrington and their construction type, with suitable improvements in insulation, double glazing and draught proofing, Government statistics state that this could be reduced to 2.273 tonnes for

Warrington homes if suitable work (as per the Green Homes Grant) was carried out.

Why is this important? Well UK householders spend £34.735bn a year on their electric and gas bills – this is a lot of money. In fact, looking specifically at Warrington properties…

Warrington householders spend £618.78 per year on

heating their homes (compared to the national average of £669.34 per year)

Yet, if Warrington householders carried out the energy improvements that ‘The Green Homes Grant’ suggests their energy bills for heating alone would reduce to £474.96 per year ... quite a saving over a decade and beyond (enough to buy a decent holiday – whatever one of those is!).

So, with Warrington homeowners and Warrington landlords being able to spend the grant on loft, floor and wall insulation, low carbon gas boilers, heat pumps, double or even triple-glazed windows, energy-efficient doors and low energy lighting … everyone should win - the environment, the economy and household budgets. More details on the scheme should be released by the Government in August.

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
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The Warrington Post Lockdown Property Market

What have we learned in the first month?

From talking to most of the Warrington estate and letting agents and our own findings, it might surprise many of you that new enquiries from homebuyers, tenants, landlords and home sellers have been at record levels since lockdown was lifted from the property market in mid-May.

There are a number of reasons for this. Firstly, we had the pent-up demand for Warrington property from the Boris Bounce in January and February. Next, many Warrington people were planning to move this spring yet were prevented doing so because of lockdown, and finally, surprisingly, an advance wave of home movers seeking to bring their Warrington moving plans forward because of a fear of a second Covid-19 wave later in the year.

So, what does all that look like and how does it compare to the last 12/18 months?

Data from Yomdel, the live chat and telephone answering service for a quarter of UK estate and letting agents, is able to track objective and more current information from across the UK on what is really happening. Each week, they are dealing with thousands of enquiries including:

· Seller enquiries (i.e. house sellers looking to put their property on the market)

· Buyer enquiries (i.e. people looking to view a property on the market with the intention of buying it)

· Landlords enquiries (i.e. landlords looking for tenants for their rental property)

· Tenant enquiries (i.e. people looking to view a property on the market with the intention of renting it)

They have created a rolling weekly average of those enquiries for the whole of the UK for the 62 weeks before the country went into lockdown. Then they compared that 62 week average with specific time frames, namely the 10 weeks of the run up to the General Election, the 8 weeks of Post Boris Bounce in January and February 2020, the weeks of lockdown in March, April and early May and then finally, from mid-May, the post lockdown.

You might ask why tracking estate and letting agency enquiries is so important?

Enquiries in letting and estate agencies are the beating heart of the property market – they are the ECG machine of the estate and letting agency. Of course, house price data has its place and is lauded by the national press as the bellwether of the property market, yet it takes 6 to 9 months for the effects of what is happening today to show in those house price indexes, whilst these enquiries are what is happening now.

Have a look at the data in the graph and table, it can be seen in the 8 weeks up to the General Election, every metric was down. Next, the post Boris Bounce saw house seller and house buyer leads increase yet note how low tenant enquiries were (hardly any change from the run up to the election), everything dipped during lockdown as expected, yet look at all the metrics post lockdown … amazing! (e.g. if a number in the graph/table below is say -25%, that means its 25% below the rolling 62 week average, yet if it were +20%, then that would mean it would be 20% more than the rolling 62 week average)

The numbers speak for themselves! So, what is happening in the Warrington property market? Well, there is plenty of activity in the Warrington property market, yet that doesn’t mean everything is back to normal. Enquiries are an important metric, yet another way to judge the health of the property market is to look at the number of property transactions (i.e. people moving).

Now the Land Registry data isn’t quite as exhilarating, yet it is less volatile. Nationally, it shows that property transactions were at their lowest level since its records began in April 2005. The seasonally adjusted estimate of UK residential property transactions in April and May 2020 was 90,210, 53.4% lower than the 193,500 transactions of May & April 2019. Again though, this was because of the restrictions on moving during Covid-19. The stats for Warrington are still to be released, yet rest assured I will share them in due course.

Looking again at what is happening now, when I look at the number of properties for sale…

303 Warrington properties have come onto the property market in the last 14 days alone, and of those, 49 are already sold subject to contract

So, what of the future of the post-lockdown Warrington housing market? While a stern recession seems almost guaranteed, a housing market crash is not. Many newspapers are predicting property values to fall in 2020, then rise reticently from the ashes in 2021. The fact is, nobody knows. The property market is driven a lot by sentiment. Buying a home is not like buying stocks and shares - it’s a home to live in … and those Warrington landlords who are looking for an investment opportunity, often let their heart rule the head (again sentiment) when investing in property.

Property always has, and always will be, a long-term investment. Many of you Warrington people reading this, especially potential Warrington first time buyers, have been putting off buying your first home because of Brexit, now its Covid-19, and in a few years, it will be something else. There will always be ‘something else’… and you could get to your 50’s and 60’s, still renting, waiting for the ‘next thing’ to pass before you buy … and end up buying nothing.

Nobody knows what the months or years ahead will bring ... yet what I do know is, people will always need a place to live. Please let me know your thoughts in the comments. Tell us what your experiences are as a Warrington landlord or homeowner, tenant or buyer so we can all learn from each other.

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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43,468 People Live in Rented Accommodation in Warrington

That number surprised you didn’t it? With the General Election done, I thought it time to reflect on renting in the manifestos and party-political broadcasts and ask why?

As the best way to tell the future is to look at to the past, so we decided to look at the number of people who rented a century ago (1920’s), and surprisingly 76% of people rented their home in the UK (as renting then was considered the norm). Yet in the latter part of the 1920’s, builders of the suburban housing estates with their bay fronted semis started to sell the dream of home ownership to smart renters.

Up until the mid 1920’s, the mortgage had been seen as a millstone around your neck. Now, due to some clever marketing by those same builders, it was started to be seen as a shrewd long-term investment to buy your own home with a mortgage. It fuelled the ambitions and goals of the up and coming well-to-do working class who reclassed themselves as lower-middle class. Meanwhile, the Government encouraged (through tax breaks) people to save in Building Societies whom in turn lent the money to these up and coming new homeowners thorough mortgages.

Roll the clock forward to the decade of the young Elvis, Chuck Berry, and Bill Haley (1950’s) and still 72% of Brits rented their home. Homeownership had boomed in the preceding 30 years, yet so had council house building. Then, as we entered the 1960’s and 1970’s homeownership started to grow at a higher rate than council housing.

The rate of homeownership started to drop substantially after the mid 1990’s, and now we roll the clock forward to today, there is no stigma at all to renting ... everyone is doing it. In fact, of the…

163,873 residents of Warrington, 43,468 of you rent your house

from either the council, housing association or private landlords - meaning 26.5% of Warrington people are tenants. Yet read the Daily Mail, and you would think the idea of homeownership is deeply embedded in the British soul?

118,326 Warrington people live in an owner-occupied property

(or 72.2%)

So, we have a paradox - homeowners or renters? The reason I suggest this, is, I noticed on the run up to the Election that housing was used at the General Election as way to get votes. This is nothing new, as all parties have always used housing to get votes, although previously it was about which party would build more council houses in the 1950’s through to council Right to Buy with Thatcher (and everyone since) - running election campaigns promising everybody their own home in one way or another.

Yet, did you notice at this election something changed? The parties weren’t talking so much about increasing homeownership but about protecting the tenant. It seems the link between homeownership as the main goal of British life is starting to change as we are slowly turning to a more European way of living. Renting is here to stay in Warrington and incrementally growing year on year. You see, in Britain there is no property tax based on ownership, which many other western countries have. Instead Council Tax is paid by the occupier of the home (meaning the tenant pays - not necessarily the owner).

Both parties wanted to end no-fault evictions (which is a good thing), yet Labour went further and mentioned rent controls in their manifesto. As I have mentioned before in other articles on the Warrington property market, rents since 2008 (even in central London) have not kept up with inflation - so again was that another headline to grab votes/election bribe? The fact is the majority of new British households formed since the Millennium can now expect to rent from a private landlord for life - therefore the parties focus on this important demographic.

Yet even with the new mortgage relief tax rules for landlords and the 200+ of legislation that govern the private rental sector, buy to let is still a viable investment option for most investors in Warrington. There has never been a better time to purchase buy to let property in Warrington … but buy wisely. Gone are the days when you would make a profit on anything with four walls and a roof. Most importantly do your homework, take advice and consider your options.

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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