The Power of Relaunch!
Over the past month one of our offices has arranged and carried out full relaunch of three properties for clients.
All three had been for sale since the summer with competitors with limited success and no sale achieved.
We retook photos at new angles, prepared new marketing material and shot video tours where appropriate. We applied upgraded Rightmove listing to all three.
We are delighted that all three properties are now sold stc.
As we move towards the end of the year many sellers will be thinking of changing agents or withdrawing from the market and relaunching in the New Year.
If this is you call us today and we can come and see you, discuss your requirements and get your relaunch for 2024 scheduled.
Renter’s Reform Bill
The King confirmed yesterday at the state opening that the Renter’s Reform bill will pass through parliament before the next election.
However, it will be a ‘watered down’ version with the scrapping of Section 21 ‘no fault evictions’ delayed until the court process can be improved and streamlined.
King Charles said: "Renters will benefit from stronger security of tenure and better value, while landlords will benefit from reforms to provide certainty that they can regain their properties when needed."
The bill aims to improve security for tenants whilst giving landlords more rights when dealing with problem tenants.
We will update further as the bill moves through parliament!
Beatrix back where she started!
After spending the post lock down years in Gorleston and more recently Great Yarmouth offices, Beatrix is back in Lowestoft office.
She joined us in 2015 as an apprentice. Never one to sit still her career with her as progressed to the point where she was keen to work in other areas. However, being a Suffolk girl, it made sense for her to now apply the wealth of experience she has built ‘south of the border’.
Beatrix will be carrying out market appraisal, agreeing sales, overseeing transactions and carrying out viewings.
If you would like to talk to Beatrix about buying or selling call her on 01502 565432 or This email address is being protected from spambots. You need JavaScript enabled to view it.
Scrapping of section 21 delayed
So called ‘no fault evictions’ known formally as ‘section 21’ are a very controversial part of private letting.
They allow landlords to give tenants notice to leave the property without having to give a reason. This is usually as they want to sell or live there themselves, however, section 21 has also been used by some landlords to threaten or bully tenants who complain about conditions or rent increases.
The government have been promising to end section 21 since 2019. However, this has now been pushed back further whilst changes and improvements to the court system are accelerated.
Reasons to be positive!
The mini budget of late September 2022 is now over a year ago. I was in holiday in Turkey at the time! It didn’t ruin my holiday, but it did make me fearful of what I would arrive back at my desk to in both the short, medium, and long term.
The short term wasn’t too bad. The fact that interest rates had risen meant that many buyers wanted to see their purchases through to keep the low fixed rates they had been offered rather than pulling out due to the uncertainty created.
The medium term…well by the time I was back at my desk it was October and October 2022 in terms of new sales agreed at Aldreds was ‘OK’. We exceeded by one sale our target for the month. We expected November and December to be slow and they were.
The long term has been more challenging with 2023 so far being a year where the volume of sales has fallen back to levels seen about a decade ago. However, looking at October 2023 against October 2022 there are reasons to be positive. We have a very strong Gorleston Office that covers most of the NR31 postcode. In the first 16 days of October 2022 31 sales were agreed in the NR31 postcode. So far this month there has been 38 sales agreed. An approx. 20% increase. OK this is a small window, but it shows that things may have very much found a level.
In the words of Winston Churchill after the battle of El Alamein – This isn’t the end, it isn’t the beginning of the end, but it may be the end of the beginning!
