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The Mark Beaumont Blog

New Year Housing Market 2020

2020 = Looking positive.

2019 = annus horribilis in the words of our Queen.

Since the election result at the end of 2019 we have already noticed positivity returning to the market. We are registering many more buyers, all keen to move to our little corner of South London.  Applicants are registering, from North, East, West and South West London.  The gentryfication continues.

We are targetting a bumper year.  Positivity has returned. Watch this space.

Property Wanted to sell. Urgently.

Landlords wanted urgently - tenant demand is outstripping supply and rents are rising.

#AskBeaumont @markbeaumontcom

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IMPORTANT LEGAL UPDATE

LETTINGS AND MANAGEMENT legal update...

Finally, the Electrical Safety Regulationson residential rented homes are to become Mandatory.

The first and second full working weeks of January 2020 have already been super busy, with, amongst other things an announcement from Government that The Electrical Safety Standards in the Private Rented Sector (England) Regulations 2020.

What does this mean for landlords? Are coming into force.

In short, there will no longer be this "should we, shouldn't we test electrics" attitude. Understandably, it is difficult for anyone to understand that if legislation is not in place, why should they be forced to carry out testing. But, with the best will in the world, letting agents explain over and over, that should an accident or fire (electrics related) occur, the landlord WILL be liable. This has been the case forever.

Time-Frames - Another Transitionary Period

With the approval of the Houses of Commons and Lords, landlords and agents will need to ensure electrical installation inspections and testing are carried out for ALL NEW tenancies in England from 1 July 2020 or from 1 April 2021 for EXISTING tenancies. This helps with planning and preparation for landlords, agents and of course, electrical engineers.

Every fixed electrical installation will be inspected and tested at least every five years by a qualified person.

What about the Electrical Certificate?

As per the regulations the landlord is required to obtain a report of the results of the inspection and test, supply it to each tenant within 28 days and retain a copy until the next inspection is due.

A copy of the most recent report must be supplied to any new tenant before they take occupation, or provided to any prospective tenant within 28 days of a request from the prospective tenant.

If requested, the report must be provided to the local housing authority within 7 days.

Enforcement

The Regulations will require local authorities to enforce the regulations. The local authority will have the power to arrange and impose remedial action.

Breaches, if proven, can result in a financial penalty of up to £30,000.

For more information contact:

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#AskBeaumont @markbeaumontcom


 

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EXPERIENCE MATTERS WHEN SELLING


Moving home is a big decision, for some, it’s once in a lifetime.  Even if you’re a few months or several years away from putting a For Sale sign in your front garden, it’s important to know what to expect. Selling your house is a big event but it doesn’t need to be a stressful experience. Some estate agents take pride in caring for customers. That’s why you don’t need just any agent. You certainly do not want the cheapest or the agent who gave you the highest valuation.  You need the right agent, and independent, established and honest agent.  An agent who can negotiate the best deal for you, someone you can trust and sell your house fast or slow, depending on you! Of course, an estate agent with the experience to handle any problems, a proven, established professional who has experience and can sell your home for the most money in the shortest amount of time!   An agent with good customer feedback – genuine feedback.

 


 

 

SOLD 3

 


 

A good estate agent will make you money, they will negotiate better and earn their fee. Statistically, agents achieve a far higher selling price with a lower abortive percentage than homeowners selling the home themselves. In an attempt to avoid paying commission, sellers are sometimes leaving money on the table during the negotiation. “Often the selling price an agent achieves is enough to cover their commission and more. How do agents do this? They have the experience and resources to price the home appropriately,”. Studies show that if homes are correctly priced when listed, they will sell faster and for a better price than those listed at overinflated prices. A property sale is probably one of the biggest deals that a seller will make in their lives, so why not use a seasoned professional with honed negotiating skills? Selling a home is a complicated endeavour that involves a lot of paperwork that needs to be filled out correctly. An agent will know the ins and outs of what is required and how it needs to be addressed. “Due to the nature of property sales and the huge financial impact it can have on people’s lives, the right estate agent can add value and be a helpful, professional guide for homeowners to rely on.” Listing the home with an agent also means that the seller will get the agent’s marketing power, access to their network and connections.

 


 

SOLD 2

 


 

At least the best way to have a great experience selling your home is to partner with a professional agent, someone you connect with.  The right agent should guide you every step of the way without taking over the driver’s seat. They should inform you but not overwhelm you. 

 

#AskBeaumont since #1999 Here to help and add value.

MARKET UPDATE PRE-BREXIT MARCH 2019 THE RIGHT TIME TO SELL Could it be 2019?

2018 was a very testing time to sell. Rightmove (other portals are available  on the market) published stats showing the average length of time for properties on the market was over 200 days. That's as high as I can remember in 30+ years.

We had a few things happen at once in 2016. A referendum, a #Brexit Vote, endless negative media of doom and gloom, of talking our Country down. We have had an election. Elections always make the housing market quiet. We had talk of cliff edges and a barrage of worst-case scenarios for our economy. What a lot of people missed was the disappearance of the investor buyers since the Government introduced an extra 3% stamp duty charge for investors. As well, don't forget the Governor of the Bank of England, predicting a house market crash of 30%. 'Poppycock'. When he predicted this, already in this little corner of South East London, prices were down circa 15% (more/less in some Boroughs). In 2016 the house market in London was over inflated. A bubble, which would inevitably burst at some point.

brexit housing

And now? Since Christmas, we have SOLD, just about EVERYTHING. This is not an exaggeration.

Over the years I have learnt that when there is economic woe, people shelve plans, postpone big commitments. But they only do this for so long. If you need to buy a bigger house for your growing family, then you can't put it off forever. Or, if you are in rented accommodation and you really want to buy, then every month you delay you are just helping to pay someone else's mortgage off, so at some point, you just need to jump into the market. You take out a mortgage over 25/30 years, so the sooner you start paying it off, the better. It seems to me that we have reached that point in 2019. We have SOLD nearly EVERYTHING.

sld everything

Are you WAITING? If you have been thinking of selling and maybe you have been waiting for something? Perhaps you have been waiting for #Brexit to get out of the way. I will tell you, today, now, this moment, is a GOOD TIME TO SELL. Some of the SALES that we have agreed have RESERVE buyers. We now have potential buyers registered, who have been looking for over a year, they have viewed 20/30 properties and they are now ready to buy. When I talk to these applicants, they have seen enough property and they will buy the right property, when I offer it to them. But I am almost out of stock to sell. In all seriousness, If you was thinking of selling at some point this year, then NOW, could be a wonderful opportunity.

I am available to discuss the plans of property, movers and shakers via email/phone or social media, it will be great to hear from you.

Mark Beaumont
This email address is being protected from spambots. You need JavaScript enabled to view it.  
020 8852 5000
www.markbeaumont.com
@markbeaumont.com 
#AskBeaumont
#Since1999