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Housing Market Update – Summer 2021 Housing stock has seen a 40% decline nationally since January 2021 according to figures released by Propertymark despite a strong sellers’ market. I have seen similarities to the market back in 2008. It’s also been reported that 40% of properties have been sold for above asking price nationally. It just shows, if you can launch your property at the right price, not too high and not too low, you can attract the right level of viewings which in turn means you can produce multiple bids. Many properties have even been lucky enough to have best and final bidding strategy. The drive to move to the countryside is still hugely prevalent here in Derbyshire and Derbyshire Dales. One recent Peak Park cottage was lucky enough to produce over twelve viewings in a couple of days. It’s a fantastic time to sell your home now. Some Propertymark members have suggested that for every home on the market there are potentially nineteen buyers. The main stamp duty holiday has finished and the same strong appetite to buy is still there.

BROADBAND There is no denying how important speedy internet access and a reliable broadband connection are - not only are we dependent on it for being able to work remotely from home, but a vast number of people are now streaming a large percentage of home entertainment through the internet. In fact, broadband has become such an important factor in people’s day-to-day lives that it’s one of the top must-haves on most homebuyers’ wish lists. So, with fast broadband now an essential for most buyers, we’ve set out what you need to consider when purchasing a property in a new area, or if you’re thinking about switching providers. Checking broadband speeds Checking potential broadband performance is easy (and free) but there are a few things you should know in order to get the most accurate information. First off, any Internet Service Provider (ISP) such as TalkTalk, Virgin and Sky can check broadband coverage. This can be done via their website or by calling up the support or sales line. However, an ISP is only going be interested in telling you about the services they provide, which is fine if your intention is to stick with the same provider, but it can be a good idea to get a broader, unbiased overview. Here’s what you should be looking out for: Download speed: The rate at which information is transferred from the internet to your device. Better download speeds mean you can get photos, music, and video from the internet faster than if you're using a slow connection. You'll also be able to watch films and TV shows online with fewer pauses for loading. Upload speed: The speed at which information is transferred from your device to the internet. The faster the upload speed, the smoother the online experience you'll have. Upload speeds also determine how quickly you can send emails, post photos on social media or upload large videos or batches of photos to streaming sites, like YouTube and Flickr. Response time: measured in milliseconds, the response time is the speed at which you get a response after you've sent out a request. Typical home broadband upload speeds are considerably slower than download speeds, so don't be alarmed if you notice a difference between the two. Providers give 'downstream' data priority as most of us are more concerned with how quickly we can download stuff than how long it takes us to upload files. How accurate are broadband speeds? When you sign up for a new broadband deal your ISP should always provide you with an accurate speed estimate, but this will usually be a range showing the potential lowest and highest speeds. The national average broadband speed average download rate has risen from 54.2Mbps last year to 64Mbps now (uploads from 7.2Mbps to 14Mbps). You can check your speed using Which? broadband speed test. Are there different types of broadband? There are, and you have three different kinds to choose from, all of which vary in price and each with their own pros and cons. There’s cable broadband (otherwise known as fibre optic), mobile broadband (which uses 3G or 4G mobile phone signal) and ADSL broadband (which requires a telephone line). Because ADSL requires a home phone line, there is usually an additional monthly line rental fee to pay on top of your broadband package costs to BT. Despite this, ADSL remains the cheapest type of connection currently available. Mobile broadband runs over 3G, 4G & 5G networks so does not require a landline. But because of this the monthly data allowances tend to be a lot lower, and if you exceed your data allowance, you can be charged quite significantly. This type of connection is as reliable as a mobile phone – which overall, you will find is good – but at peak times and in certain areas, you will notice a drop in signal. Cable (or fibre optic) broadband usually has the fastest connection and typically has no additional built-in costs or data charges and doesn’t require a landline. It also provides the most reliable connection as it usually links to a BT cabinet in a nearby street. You will have to pay a setup fee for fibre however and depending on the type of speeds you’re looking for, packages can get pretty pricey. Do I really need fibre optic broadband? Superfast broadband sounds appealing, but just how fast is it and do you really need it? Fibre is worth considering if you have a large family or live in a shared house, where several people use the web simultaneously across lots of connected devices, watch a lot of on-demand TV services, or regularly download movies, music, games and TV to watch offline. For browsing the internet, checking emails, uploading the odd photo to Facebook and even streaming from BBC iPlayer or Netflix, you don't need a superfast connection. We should also mention that fibre optic packages are more expensive, and the service isn’t currently available in all parts of the country. One last piece of advice If you’re moving into a new home, it is common to experience a delay in the set-up of your broadband or to be without it completely, so make sure to contact your ISP as soon as you can to change your connection – do not leave it until the day you move. Most companies need at least two weeks’ notice to install or change a connection, but we would recommend six, just to be on the safe side. Some providers let you arrange a move up to 90 days in advance, so if you’re feeling productive, sort it early and you should be online from the day you move in.

BEFORE MAKING AN OFFER Before making an offer on a property there a few key things which would be good practice to check. Purchasing a property is a big decision and making sure you know everything you need to, before committing to the sale, will avoid any disappointment or problems further down the line of the buying process. The local area Make sure the location of the property fits your lifestyle. Research whether the area is somewhere you could comfortably live. If you have children, is it close enough to local schools? If you’re commuting to work, is it near public transport links or a reasonable distance to drive? Local amenities may be a bonus too; check if the property is near any shops and out of earshot of any pubs. Pollution If the property you’re looking at is near a main road or in an urban area, you may want to be aware of the pollution levels. We believe that estate agents should begin providing this information as standard, but there are websites such as addresspollution.org where you can find out if the address you’re looking at adheres to the legal levels of pollution. Parking Some properties will come with a driveway or garage, meaning you will have suitable parking or storage for any vehicles. But be aware of properties that don’t have any obvious places to park. Some properties may have on-street parking, which can require a permit, and some properties may offer no parking at all. Internet and phone signal Most people regularly use mobile phones and the internet. Make sure you check what internet speeds are available in the property you wish to buy. Most internet service providers have a postcode checker tool that will tell you the potential broadband speeds you can get, be sure to use them to see if the speeds are more or less than you expected. When you visit the property, check your phone to see if your signal and mobile data is affected. If the signal is weak and you’re not regularly hitting 4G, then that may affect how easily you can contact people from your new home. Land Registry You may want to find out what land comes with the property, plus any restrictive covenants, easements or other restrictions before you make your offer. By using the Land Registry, you pay £3 for the Title register, which will tell you who owns the property and any rights of way, or for the Title plan, which lays out the general boundaries of the property and any restrictions or covenants. Despite the cost, this can be helpful to determine whether your property has any major restrictions that may affect your decision. You can even pay £9 for a Flood risk indicator, which could prove valuable in your decision if the property is viable to flooding. Leasehold or Freehold Always check if the property is a freehold or leasehold. Leasehold is usually more common on flats but can be an issue on houses, especially new build developments. Make sure to read our guide on Leaseholds for more information. EPC The property’s Energy Performance Certificate will give you a good indication of how energy efficient the property is. Properties with higher ratings may require more investment in making it more energy-efficient and could also mean your utility bills are higher. Consider this before you make your offer. Council Tax Use the GOV website  to check the property’s council tax band and the local authority’s band charges. Larger houses tend to have higher council tax charges, which may affect the total costs you can expect on the property. Listed building If your property is of local or historical significance, it may be listed, which can restrict what you can alter to the property and may also mean the EPC is higher than a newer home. After making the offer If you have paid for a survey, you should have a good idea of any other issues with the property. At this point, you can lower your offer if the survey has uncovered any problems that would be expensive to fix. Or you can go ahead with the sale, if you’re happy with everything the property is offering. Make sure you do everything you can to speed up the sale of the property, so you can move in as soon as possible. Use an NAEA Propertymark Protected estate agent to have a qualified professional who can guide you through every step of the buying process.

It's amazing how unprofessional some estate agents can be in a strong and active housing market. I'm talking about overvaluing just to get the property listed. I have always stood by this mantra, "A house is only worth what someone wishes to pay" Here are my five best top tips when you have your house valued: Just make sure you use a NAEA licensed estate agent that is bound by far more regulation than a standard agency. (You can search every company to see if they are, just go to www.naea.co.uk) Look at the evidence they present you on properties in your area that have sold, and their actual sold price. Go with your gut feeling with regard to the agent that visits. Trustworthy or a good salesperson?! Is the valuer local? Living within the immediate community can have a dramatic impact, as they will care far more about their reputation locally. Does the valuer have good knowledge of the industry, and of the local area? Another really important attribute. If you follow these five tips you should be getting the best advice and avoid listing your property too high, and then having to reduce before finally achieving that all important sale.

When you have had your valuation, and you have decided to instruct us to market your property, it is important that we make the most of this appointment, so we can efficiently, and effectively market your home. On the day we will carry out the following: Measurements & Dictation Notes Floor Plan Preparation Photographs Signing Documentation ID Checks Preparation Of Your Home - Photography Preparation is everything, as this allows us to take the very best quality photographs showing tidy and uncluttered rooms. Imagine that you’re preparing for an actual face-to-face viewing, your property will be clean, decluttered, and well lit. Make the beds, use fresh linen if possible, and open all the curtains and blinds. Think about each space, and how it looks to potential buyers. Declutter, but do not remove everything, you want it to look like a home, to help potential buyers picture themselves moving in. One of my best tips is to take your own photographs quickly, regardless of the quality of your camera, and photographic skills. Take the photos imagining you are estate agents, standing where you think the room will be best photographed. Download your photos onto your PC or laptop. Sit down with a cup of tea, or something stronger! You will be amazed at how much more you will see as you will start to look at the photographs, as if you were a buyer. Don’t forget about the outdoor spaces, mow the lawn, arrange the flowerpots, sweep the pathways and neatly arrange any outdoor furniture. One of the most important photographs is the main front photograph. This is the most visible from all our marketing, and it is imperative to maximise the visual impact. There are many tricks of the trade. Is it tidy? Does the driveway need a pressure wash or weeds removed? If there is a garden, make sure it looks neat and tidy. If there is no garden, and mostly hard landscaping, then we always suggest softening this with a hanging basket, and maybe some pots flanking either side of the front door. Make it look homely and inviting! If on the day the weather is poor, then we will arrange to finish off the exterior photographs another day. We appreciate your efforts in the preparation of your home, but trust us, it is the most worthwhile task in drawing in the potential buyers, which in turn will maximise the return on your investment! We will always be on hand to answer any queries you have, and we would be happy to even pop out to give you some guidance, prior to our visit in preparing your property for marketing.

Are you looking to buy your first home but not sure where to start? Here are six great tips to help you get onto the property ladder. 1 - Start saving as soon as you can It’s unsurprising that FTBs see saving for their first home as out of their reach with house prices increasing. However, if you start putting a set sum of money into your savings account every month from early on, this will help you work towards your savings goal. It’s also worth exploring products that will help you save. For example, if you save into a Lifetime ISA, or Help to Buy ISA, the Government will add a 25 per cent bonus to your savings. 2 - Work out your budget and speak to a mortgage adviser A mortgage adviser will look at your income, any debts you have, and your deposit, to make an assessment on how much you can borrow. It’s important to do this at the start of your house hunt, so your search is realistic. You should also be able to get a mortgage offer in principle, which shows sellers that your finances are already in place and that you’re an attractive buyer. Also speak to your advisor about your credit score and how to make sure it’s a high score which will increase your mortgage options. Its likely that if you don’t have much of a credit history, you might not have a high score. Being able to demonstrate that you had credit commitments and paid them on time can boost your score. 3- Research, research, research There’s nothing worse than falling in love with a property or an area that’s simply out of your budget. You should always ensure that you have thoroughly researched which areas you can afford to buy in, and consider the type of property you're looking for before you start your search. 4 - Have your paperwork ready to go Once you have an offer accepted, you’ll need to submit various bits of paperwork to get the process moving. Make sure you’ve got copies of your ID and utility bills with your name on, as you’ll need to share them with your estate agent. You should also be ready to start the mortgage process and instruct a solicitor. Depending on how long it’s been since you had your mortgage in principle agreed, you may need to resubmit paperwork, such as recent payslips and bank statements, to your mortgage adviser. 5 - Be patient House purchases rarely stick to the expected time frames. It might take you several months to find your ideal property, and then the transaction can take a while as well. It’s probably one of the biggest financial commitments you’ll make in your lifetime, so it’s important not to rush it. 6 - Work with a professional estate agent When you start your house search, make sure you approach a NAEA Propertymark estate agent. Those agents will ensure you are making a realistic offer, and make sure they’re only showing you properties which suit your criteria and budget. Find out why you should always check if the estate agent is Propertymark Protected.

Purchasing your next property is one of the most important assets you can buy, so it is crucial to thoroughly check the property by a professional RICS Chartered Surveyor. We have several links with local surveyors in our area to assist you. There are three levels of surveys which you can instruct: Mortgage Valuation - This does not actually count as a survey - it is an assessment by your mortgage lender. They send a valuation specialist to value the property. This is to see if it is worth the money you are going to pay, and if the lender should give you a mortgage on it. These valuations can vary from ‘drive by’ to a more in-depth inspection of the property. The valuer is only concerned with problems that might affect the protection of the mortgage lender’s loan. They are not obliged to reveal any structural problems to you. The lender simply needs to know that they can recoup their loan, if required. Condition Report (Level 1) - This is the most basic of reports - it gives an overview of the condition of the property.  It is intended to supplement the information provided with a mortgage valuation survey. It may be the survey needed for new builds just to get a general assessment, but most properties will need a Homebuyer Report (Level 2 Survey). Homebuyers Report (Level 2) - is a survey to find and document any problems in a property that could cause damage, and need future repairs, such as damp or subsidence. A Homebuyer Report is carried out on homes that are in a reasonable condition, and only checks for easily visible problems. The Homebuyer Report will not detail every single aspect of the building, but it can reveal issues that might impact the value of the property and need further investigation. It will include all major sections of a property that are visible to the surveyor, so they will not lift up floors, or carpets and wiring will not be included. Building Survey (Level 3) - Previously known as a Structural Survey, a Building Survey (otherwise known as the Level 3 RICS Survey) is an in-depth inspection of a property. It is the most comprehensive of the surveys available for residential properties and will provide a detailed evaluation of a property’s condition. The Building Survey report will describe the condition of each element of the house and identify the property’s defects, their apparent cause, the urgency of repair, maintenance options, and may also include an approximate cost of repair.

Ednaston Park has welcomed us with such warmth and friendliness. Wonderful place to work from with fantastic facilities which have been renovated to such a high standard from a local historic building. Located just outside Ashbourne along the A52, towards Derby with 18 acres of beautiful grounds and state of the art offices. With a fabulous reception and facilities including a client lobby area and boardroom. We are super proud to be able to operate from here surrounded by glorious Derbyshire Dales countryside and free parking for all our clients. Such a convenient place to do business and creates such a good atmosphere. We are so looking forward to launching very soon… #estateagency #bennetsamways #ednastonpark #ashbourne #derbyshire #propertymark