GOLIATH PROPERTY MATTERS - Our take on property news that matters to you
1. £78,100 – average landlord property capital gain revealed
Averages are always a little skew-whiff when it comes to property as values vary massively depending on location. What is poignant however is the importance of choosing your location well as you’re likely to benefit most from the increased value when you sell, rather than the rental income during ownership.
2. Five questions to ask to help you stay safe on a viewing
I have already seen social distancing rules being broken at property viewings. It’s a tough one to police but I think we all need to ensure we’re taking the extra steps suggested in this article to ensure we all stay as safe as possible when it comes to property viewings. Do as much of the research as you can before physically viewing, and you should minimise the risk.
3. Early signs show English property market bouncing back
Unfortunately the early signs following ‘lockdown’ aren’t great for investors with property prices up nearly 2% and vendors achieving nearly 98% (on average) of the asking price. It would appear there has been a mad rush of vendors wanting to capitalise on this mini revival of the market. However, I stand by my predictions! This ‘flurry’ will end and once the real economic impact of lockdown is felt we will see a price drop.
4. Rebound in demand from tenants, while rental valuations hit a record high
Summer has always been a busy time for the lettings market. The build up usually starts in March and starts to peak August/September before quietening down again towards Christmas. This year however, the usual build up from March hasn’t been allowed to happen so demand has been building which is fantastic for landlords looking for tenants. Team this traditional demand with the added demand for properties with gardens and people moving out of big city centres and we have a very buoyant lettings market.
5. Woman Can't Sell Her House As The Decor Is 'Too Crazy'
When it comes to getting the maximum value for your property you need to appeal to the mass market which means either, ‘neutralising’ your property so buyers have a blank canvas, or accepting that you’re going to need to accept a lower price to allow the buyers to do a full refurbishment on the property. My suspicion is the Agent has not managed the vendors expectation here and has given them hope of achieving actual market value which is highly unlikely (unless they’re prepared to wait for the ‘one’ to come and buy it)!
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