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Chancellor Rishi Sunak announced in the summer budget a stamp duty holiday for anyone completing a property purchase in England and Northern Ireland from 8th July 2020 until 31st March 2021. The unprecedented move is hoped to boost the housing market which has struggled to maintain momentum during the coronavirus pandemic. What is stamp duty? Stamp duty is a tax you have to pay when you purchase a property or piece of land in England and Northern Ireland. Before the chancellor’s announcement, you didn’t have to pay stamp duty if the transaction cost £125,000 or less, or you were a first-time buyer purchasing a property up to £300,000. However, under the temporary new rules, the stamp duty threshold has been raised significantly to £500,000 and applies to anyone, not just first-time buyers.Those buying second homes will also be able to benefit from the revised tax rules but will have to pay an additional 3% stamp duty. Will high-value home buyers benefit from the stamp duty holiday? For property purchases over £500,000, the amount of stamp duty you’ll have to pay will depend on how much you’re buying the home for. Stamp duty on high value homes is calculated in bands, which increase in relation to how much a property is worth. The stamp duty rate only applies to the part of the property price that falls in each band. Under the new measures, the bands have been revised, as detailed below. Property Value Stamp Duty Rate    Up to £500,000 0% £500,001 – £925,000 5% £925,001 – £1.5million   10% Above £1.5 million 12%  Good news for home buyers The stamp duty holiday will help all buyers save a significant amount of money, whether they’re buying their very first home, stepping up the property ladder or downsizing. It’s thought that on average, the stamp duty holiday will help buyers save £4,500, but the savings can be up to £15,000, and nine out of ten buyers this year won’t have to pay any tax on their property purchase at all. As stamp duty is payable on completion of the purchase, if you have already exchanged contracts but not yet completed, you will benefit from the new scheme and find yourself with some spare cash to spend on your new home. If you’re looking to take advantage of the stamp duty holiday, get in touch with Chimneypots estate agents today on 01489 584298. Our experienced estate agents are here to help you find your dream property, which has never been so in reach!

Buying houses after lock down Since lock down began, households have had to change the way they live in order to cope with the demands of the pandemic, from setting up a home office in the living room to cleaning out the garden shed to create more space. While the lock down measures may be temporary, they have had a profound effect on the way we live every day, an effect that is sure to continue resonating as we move forward and out of this crisis. Professor Yolande Barnes of the Bartlett Real Estate Institute, University College London, believes this is not a one-off crisis or lock down, something she thinks is reflected in the way “homeowners are reassessing their space for what lies ahead.” Ms Barnes explains her theory further: “Buyers and tenants will be more discerning and from now on, every time they view a new property they will be thinking, can I live in these four walls in a lockdown?” Changing priorities for home owners Estate agents are already seeing a change in the feature’s buyers are looking for; things that were once deemed to be a ‘nice to have’ have now become essential. Top of the list are home office space, large gardens, multiple options for living space, and outbuildings. They are moving away from the once coveted open plan living and now looking for homes with designated, and separate, spaces. The cabin fever of lock down may also be a factor for an increased demand for property near green or open space. According to Rightmove, there has been a marked increase in city dwellers searching for rural properties, with searches from Londoners for countryside retreats up 10 per cent. In short, home buyers are now looking for homes that would make living in lock down a whole lot easier than the first time around. At Chimneypots estate agents, we do all we can to help our clients find their perfect home, no matter their priorities. So, if you’d like expert help finding the perfect post lock down home, please contact our team on 01489 584298.

Though people are now free to move home in England, estate agents and homeowners alike will need to adapt to new processes and procedures. If you are planning to buy or sell a house during this period, here are some of the changes you can expect. 1. More virtual viewings In order to minimise the risk of coronavirus spreading, the government has advised that initial viewings should be conducted virtually wherever possible. At Chimneypots, we’d be happy to help you with this. No open house viewing should take place. If a viewing does need to take place in person, the current owners are recommended to vacate the property for the duration. If the current owners or household planning a viewing are exhibiting symptoms of Covid-19, the physical viewing should be postponed. 2. More extensive cleaning measures The government advises that following an in-person viewing, sellers should ensure that all surfaces, especially door handles, are thoroughly cleaned. Equally, potential buyers should bring their own hand sanitiser if possible and refrain from touching surfaces. Good ventilation is also suggested, so opening windows and doors is also beneficial. When it comes to selling your home, a thorough deep clean is recommended before the next residents move in. 3. Moving to a new house Government guidelines recommend that you contact a removals company plenty of time in advance of your move and should undertake as much packing as possible yourself. Where possible, clean and disinfect any object that you know will be handled by a removal team. When removal workers are in your home or new home, keep 2 metres away at all times. At Chimneypot estate agents, we are doing all we can to help our clients during these uncertain times. If you require further guidance on buying or selling your home during this pandemic, please contact our team on 01489 584298.

1) Choose the right estate agent Before you do anything, you need to make sure you have the right estate agent who has the reputation and experience to minimise stress, arrange lots of viewings and ensure you get the maximum offer. 2) Boost your home’s kerb appeal As cliché as it sounds, we’ve all judged a book by its cover so make sure you don’t put potential buyers off before they’ve even stepped through the door by making sure the outside of your home makes a brilliant first impression. So, get outside and weed the driveway, wash the windows, slap on a fresh coat of paint and repair any broken fence posts. 3) De-clutter It’s important that anyone looking around your home can picture themselves living there. So, keep your house as clutter free as possible and tidy away your personal photos and belongings (don’t worry, you should still leave out your favourites). 4) Pay attention to the kitchen The kitchen is the heart of the home for most properties in the UK and can be a huge selling point. To help your buyers fall in love with yours, keep the worksurfaces clear, dishes out of the sink and pets outside. 5) Attend to those little jobs If you’ve been putting off changing that lightbulb or repairing that dink in the paintwork, now’s the time to finally get around to fixing those little jobs that are easily overlooked. By making sure all the little details are perfect, you’re ensuring your home is looking its very best and you’re shoing you really take care of the property. 6) Make the most of your outside space Gardens and courtyards are bonus living spaces and a fantastic selling opportunity but overgrown and neglected outside spaces can send your buyers running. So, think about tidying up your garden by pruning plants, hiding playthings in the shed and, if your budget allows, placing furniture outside to show that it’s a usable area. 7) Hang mirrors in smaller or dark rooms Mirrors are every interior designer’s best friend and for good reason. Hanging mirrors in small rooms or areas that don’t get a lot of light, like hallways, will instantly make the space feel roomier and brighter. 8) Swap bright walls for neutral tones While your bright yellow accent wall certainly brightens up the living room, it unfortunately won’t be to everyone’s taste. As heart-breaking as it may be to cover up your masterpiece, you need to appeal to the widest audience you can so cover up any bright colour schemes with warm, neutral tones. You can add pops of colour in your accessories, such as cushions, lamps and rugs. 9) Don’t stuff your storage space Decluttering is essential to selling your home but don’t stuff your storage space full of your belongings. Chances are that anyone looking around your home will open up your cupboards to see what the storage is like and if they’re confronted with overflowing closets, they’ll think there isn’t enough space. 10) Let there be light No one likes walking into a dull and dark room, especially in the middle of the day, so we always recommend turning on lamps and selected overhead lights in each of your rooms to give your home a brightness boost. To learn more about how you can sell your home quickly, get in touch with the expert estate agents at Chimneypots, one of the South’s leading estate agents covering Hampshire and Dorset, by calling 01489 584298 today.

According to the latest monthly snapshop from the Royal Institute of Chartered Surveyors (RICS), the number of people looking to buy rose in January, as did the number of properties for sale. For the second month in a row, sales that had been agreed rose also. RICs has attributed the rise to a more settled political climate now the general election has come and gone and Brexit appears to be going ahead. A net balance of 17% of surveyors and estate agents, a measure of the difference between those registering increases and those with decreases, reported higher house prices in January, the first time this measure has been positive since July 2018. Prices rose in London and the South East, where they had previously been falling, with the strongest growth reported in Northern Ireland and Scotland.  Property experts optimisitic for the future RICs’ chief economist, Simon Rubinsohn, has welcomed the increase in properties being put on the market as it’s a ‘much needed development’ following record lows in new listings. However, he does warn that, “it remains to be seen how long this newfound market momentum is sustained for, and political uncertainty may resurface towards the end of the year.” He goes on to say that “at this point in time, contributors are optimistic regarding the outlook for activity over the next 12 months.” Other surveys have supported the trend as they too suggest that the UK housing market has improved following the general election in December. Estate agents from across the country agree that more certainy and stability in our government has contributed to the boost as well as the relatively warmer weather which encourages house buyers to go out and view potential properties. The busiest time of the year for estate agents is the spring, as buyers and sellers alike start to act on their plans to move. Are looking to sell your home? Or are you searching for your dream property? Then contact the expert estate agents at Chimneypots today on 01489 584298. Our team has years of experience successfully selling properties across the Hampshire and Dorset areas as well as helping people find their perfect home.

Do your research before viewing Before viewing any properties, do your research into the local housing market to give yourself an accurate idea of what prices are like for the area. This includes looking at how much houses actually sold for compared to the asking price which indicate how much of a reduction people are willing to take, a very handy piece of information when it comes to making your own offer. Once you’ve booked a viewing, take a look on online property websites such as Zoopla and Rightmove to see how much the current owners paid for the property. If they bought it 10 years ago, they’re likely to have made quite a bit of money on it while benefitting from a small mortgage. This could mean they can be more flexible on what they’re willing to accept. If the property was only purchased recently, the reverse may be true, and they may need to get as much from the sale as possible. Ask questions during the viewing So, you’ve arrived at the property and it’s everything you’ve dreamed of. Use the viewing to ask the estate agent about the vendor’s situation, their reasons for moving, how long the property has been on the market, do they need to move quickly etc. If you find they have got a new job out of town, for instance, they may need a quick sale in order to have moved and settled in another area before their start date. Whereas if the sellers are a retired couple simply looking to move to a quieter area, they may be more willing to hang around for better offers. Don’t be afraid to ask directly how much they are willing to accept. This is also a good time to show off your advantageous situation. For example, if you’re a first time buyer, the success of the sale won’t be dependant on your chain, which makes for a more certain situation, not least in terms of finance. Often, people get attached to their homes so make sure to tug on the heart strings of the seller by complimenting the decor or commenting on what a great family home it is. Making the offer Before calling the estate agent to make your offer, combine everything you have learned about the property market, the house itself and the owners’ situation to give you a realistic first bid. It’s also a good idea to set yourself a top limit for what you would be happy to pay. When making that initial offer, start low. Sellers expect a first offer to be under the asking price and don’t be afraid to be a little cheeky – after all, if you don’t ask you don’t get. If this is turned down, ask for a counteroffer and then go back with a figure somewhere between that price and your first bid. Don’t use a round number but something specific, such as £259,450, as this suggests you’re at your maximum mortgage limit and can’t go any higher. This is also the time to add other things into the mix, such as white goods and other appliances, which could help sweeten the deal. If the seller still doesn’t accept your offer and you are willing to pay more, make another bid but make it clear that the price you state now is the final price. You may have to be prepared to walk away if the seller still doesn’t budge. If the seller comes back to you in the next few days or even weeks, remember that the tables have now turned and they are trying to sell to you, rather than you buying from them, so be confident in the following negotiations. The experienced estate agents at Chimneypots are highly skilled at negotiation and ensure the very best price for buyers and sellers alike. So, if you’re looking to sell your property or are searching for that dream home in Hampshire and Dorset, get in touch today on 01489 584298 to discuss your needs.

Improving property market despite uncertainty  Jonathan Samuels, chief executive of leading mortgage lender Octane Capital, explains further, saying “the property market is hardly all guns-blazing but neither has it given up the ghost. Ultra-low borrowing rates and a deep-seated boredom around Brexit mean transaction levels continue to tick over. People have said enough is enough and are getting on with their lives, something that really shone through in November.” With a general election just around the corner, some think this period of uncertainty affects the property market as buyers hold off making a move until the government has settled in. However, according to Nationwide, electoral periods don’t affect the market. Indeed, Nationwide’s chief economist, Robert Gardner, believes “Rightly or wrongly, for most home buyers, elections are not foremost in their minds while buying or selling their home.” Halifax also reports higher property prices Halifax, another of the UK’s largest lenders, also saw a rise in house prices last month. Their figure is a more optimistic 1% increase from October to November and they say the average price of a property is now £234,625. Russell Galley, managing director of Halifax, believes the rise is largely due to lower mortgage rates and higher competition for properties. He says, “while a degree of uncertainty remains evident, it’s also clear that buyers and sellers are responding to factors such as improved mortgage affordability and the limited supply of available properties. “It is these issues which we believe will continue to underpin the resilience evident in the market for most of 2019. Over the medium term we expect the emerging trend of modest gains to continue into next year.” If you’re looking to sell your home or are searching for your dream property, contact the expert estate agents at Chimneypots today on 01489 584298. Chimneypots has years of experience both selling properties across the Hampshire and Dorset and helping people find their next home.

Learning from the UK’s top estate agents The event also featured three keynote speaker sessions, including Cally Beaton, media executive and entrepreneur who helped us learn about change management, and Oliver Gleave, founder of property software providers, Jupix and Loop, who discussed how to maximise the use of technology in modern day estate agency. The last but by no means least speaker was economist Roger Martin-Fagg, who provided an economic forecast for the coming months, helping us give expert advice to all our clients whether they’re buying, selling or renting. This year’s event also included roundtable breakout sessions, each one hosted by an expert in their respective fields. From marketing and social media, to compliance and employee engagement, the roundtable format gave delegates the opportunity to choose the topics that they wanted to learn more about, something we all took full advantage of. The event culminated in a black-tie awards dinner hosted by the well-known national television broadcaster, Huw Edwards, who presented awards to the night’s winning estate agents. What does our Network membership mean to you? The Relocation Agent Network hand-pick members from estate agents across England, Scotland and Wales who excel in customer service, professionalism and local knowledge. Membership is by invitation only so if your estate agency is part of the network, you know they’re among the best in the industry. Chimneypots is proud to say we are one such Relocation Agent Network member and cover Warsash, Locks Heath, Sarisbury Green, Titchfield Common, Southampton and Fareham. As such, we’re the area’s local expert here to help you buy, sell and rent. To learn more about the Relocation Agent Network or for help buying, selling or renting property, please don’t hesitate to contact our friendly team today on 01489 584298.