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Lockdown 1 year on | Have we changed where to live? 🤔

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Lockdown one year on, latest stats from Rightmove on where we are choosing to live:

➡ Lure of country living 🌳 overtaking demand for cities 🌆
➡ Over 50% of city-livers now enquiring about a property in rural areas 🏡
➡ London has been overtaken by Cornwall and Devon as the most searched-for locations ⛵
➡ Sales agreed grew by 69% in rural, compared to 49% in urban areas (last six months of 2020) 🚵‍♀️
5 bed detached homes up 38% 📈
4 beds up 26% 📊
➡ Renters switching from 2 bed flats 🏙 to 2 bed semi-detached houses 🏠
Rents in rural areas increasing significantly more than cities 💹
➡ Overall increased appeal for gardens 👩‍🌾

So, have we changed where want to live? Yes

Image above! FOR SALE | HENDRE GARDENS | NG9 | 3 BED TERRACE | £125,000

Latest House Price Index | Download PDF below 📩

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💥 The best sellers’ market of the decade! 💥 

Demand is outstripping the number of homes for sale by the biggest margin at any time over the past ten years! 😲
Buyer activity 34% higher than this time last year 🔼
✅ Will be boosted from 1st April by 5% deposit mortgages 💰
✅ The average asking price of a property coming to market has risen by 2.7% in the past 12 months to £321,064 nationally 📊
✅ Asking prices also increased for the second consecutive month, with a rise of 0.8% (+£2,484) recorded in March 📈
✅ The number of sales agreed for the first week of March 12% higher than a year ago 🤝

Download! Full House Price Index here
Image above! RECENTLY SOLD | CLINTON TERRACE | NG7 | 3 BED APT | £300,000

Stamp Duty extension | Example below 📩

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Stamp Duty extension will benefit 500,000 buyers this year 💃🎉🎈🎊🥳 

✅ Sales agreed are up 5.3% compared to same period in 2020 🤝
✅ Average time to sell a property in the UK down to 44 days (from 50 last year) 🚦
✅ Across England, there are around 130,000 homes for sale that will attract zero Stamp Duty 🏡
✅ Amounting to a potential saving of £123m 💰
✅ Overall, more than half a million buyers this year will benefit from the SDLT extension ☺

Download! New SDLT extension example here
Image above! RECENTLY SOLD | THE STONE YARD | NG1 | 1 BED APT | £129,950

Can I have a 95% mortgage please? | Yes ✅

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The Mortgage Guarantee Scheme (MGS) is designed to help buyers with 5% deposits 🚀:

1️⃣ MGS is an initiative to help buyers get a mortgage with a 5% deposit 💰
2️⃣ The Government will offer lenders the option to buy a guarantee to compensate for losses on loan defaults 🆘
3️⃣ Mortgages will be fixed for at least five years 🛠
4️⃣ Not restricted to First-time Buyers or New-build Homes 🚦
5️⃣ Available on properties worth up to £600,000 (that's 86% of all current listings according to Rightmove)... 📊
6️⃣ In the East Midlands, our average 🏡 is £236,453 which means a deposit of £11,823 ✅

Image above! FOR SALE | BEESTON | NG9 | 3 BED DETACHED | £254,950

Buying or selling a house is easy right?! | Download PDF Guides below 📩 

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The Residential Property Surveyors Association (RPSA) with WiggyWam has:

✅ Launched a new ‘Home Review’ service to identify structural problems before sellers market their property ℹ
✅ This provides buyers, sellers and agents advanced warning of any major issues such as subsidence, failed roof structure or widespread rot ⚠
✅ It brings more homes to the market with a clean bill of health 👩‍⚕️
✅ Timely insight into such issues so buyers can be confident in commissioning a full survey 🏆
✅ Significantly reduces the risk of purchases being aborted after an offer has been accepted 🤝
✅ Saving time and money for buyers and sellers 👩👨

Download! Cavendish Buyer and Seller Guide here
Download! Property Mark How to Buy a Home Guide here 
Image above! FOR SALE | PORTLAND ROAD | NG7 | 2 BED APT | £158,000

Latest investment opportunity

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🥇 Current rent £925 per month
🥇 Tenanted until September 2021
🥇 6.3% gross yield
🥇 2 bedroom duplex apartment 
🥇 Great investment! 

Image above! FOR SALE | FLETCHER GATE | NG1 | 2 BED DUPLEX APT | £175,000

Posted one month ago
by Ali Baylav Managing Director Cavendish Residential

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