Property all sells the same…right?
It is a common misconception that properties sell broadly at the same rate and same timescale.
Generally speaking, there are more buyers for properties in lower to middle price brackets, however, there are also more properties for sale. Higher priced properties are available to less people but often a smaller number are for sale over a larger area!
There has been some interesting statistic released this week regarding different trends regarding different properties in various parts of the country. It has revealed the fastest selling properties in the UK currently are semis in Scotland going under offer in 37 days whilst the slowest selling are detached homes in Wales. Terraces in the west Midlands and semis in the North East are the fastest selling in England. Bringing up the rear are flats in London (often suffer in more challenging markets).
We are finding a real bounce has returned to the housing market in 2024. We are definitely seeing the strongest part of the market between £125,000 and £260,000, however, we have seen buyers return to prime property to with sales currently agreed at figures over £700,000. With more stable interest rates and predictions of a falling base rate it appears 2024 will be the year the housing market settles and recovers after the challenges of late 2022 and 2023.
Landlords – are you concerned about the Renters Reform Bill?
No doubt you have seen in the press that the oh so controversial Renters Reform Bill is being pushed through the House of Lords next week.
The headline is removal of Section 21 notices and supposedly ‘no fault’ evictions. This is probably the most concerning for landlords as many may simply believe that getting their properties back will be next to impossible.
That is not the case, landlords will be able to get their properties back on one of four grounds; If they want to sell; if they (or a family member) wish to move back in; rent arrears or if there is antisocial or behaviour in the property.
With so many changes to the Private Rented Sector over the last 15 years landlords have developed a thick skin and are used to change. Inevitably there will be some who feel this is the last straw and sell which will inevitably reduce the available stock of rented accommodation. For those hardy landlords who remain they are highly likely to reap the benefits of the supply and demand imbalance which will no doubt push rents even higher.
If you are a landlord and have any concerns please speak to one of our lettings experts for sound practical advice. Talk to the experts, talk to Aldreds.
We are hiring!
Due to the improving housing market we are hiring for a number of roles across our group!
We have the below vacancies either available immediately or coming available soon.
All roles involve some work on Saturdays, a driving licence and access to your own vehicle. which you can use for work purposes.
Full Time Lister - Due to a high demand for our services we are looking for an experienced estate agent to join our team. Preferably with listing experience, however, if you are an experienced negotiator or senior negotiator looking to move in to listing this could be a role for you!
Full Time Negotiator - We require a full time negotiator to join our team. Experience is preferred, however, if you are passionate about property and giving excellent customer service this could be the job for you.
Part Time Negotiator - Same as the above but part time! Approx. three days a week.
All roles come with a basic plus commission packages.
Interested? Email This email address is being protected from spambots. You need JavaScript enabled to view it. in confidence!
Gold winners!
We are very much enjoying our year as the Gold agent for Great Yarmouth!
If you have a property to let call us today and see how our award winning service can help you find a fantastic tenant.
David, Sue, Susie, Michelle, Vicky and Kaylie are waiting for your call on 01493 849111 or This email address is being protected from spambots. You need JavaScript enabled to view it. . Or pop in and see us at 17 Hall Quay!!!!
Performer of the month!
Well done to Great Yarmouth Office manager who wins our Performer of the Month award.
Jackie has guided the office through a very busy month whilst being a member of staff down for most of it due to a sickness absence.
Nominated by (at least and they may be others I have missed) Claire, Chris, Richard, Michael and Tracie.
This is what Tracie had to say about Jackie which just about sums it up!
I’d like to nominate Jackie in our GY office. She is like the proverbial swan, working like a trojan no matter what changes and, or shortfalls that go on around her! And manages to stay calm and unflustered, always doing it all with a friendly smile and total professionalism. An amazing lady!
Thanks for all your hard work Jackie!
Inflation falls to 3.4%.
More positive economic news today with inflation falling again.
Still above the Bank of England’s target of 2% but way below the double digits we saw a year ago.
The UK housing market is already in recovery mode with transaction levels increasing and prices having appeared to have levelled.
Let’s hope that the positive inflation news will lead to a welcomed and predicted interest rate cuts through 2024. Two & five year fixed rate mortgages are currently at levels well below the current base rate.
As a tenant why should I bother with contents insurance?
There are many reasons why all tenants should have protection in place, unfortunately this often only comes clear when a problem occurs.
A classic example of this which we have seen first hand many times over the years. A simple accident of dropping something on a ceramic hob and crack! The surface is broken and a new hob is needed. Replacement with fitting can easily be up to £500.
Many tenants believe that accidental damage is covered under the landlord’s insurance, however that is not the case. This is always specified in the tenancy agreement.
If you don’t have your own contents insurance, none of your belongings are covered in the event of a flood, fire, burglary or even a leak. That is something most people don’t think about until it is simply too late.
Good cover is not expensive and we never want to see our tenants left out of pocket because of something that was out of their own control.
We have teamed up with Alan Boswell Insurance, a local Norfolk firm offering award winning tenant focused cover at very competitive rates.
For full details and instant cover please click on the link https://www.aldreds.co.uk/landlord-tenant-insurance
Are you thinking of letting your property but worried about rent arrears or getting possession?
We absolutely understand your concerns, with an uncertain economy threatening jobs, long delays in the court system and a massively overburdened social housing system it can be a long and costly process to get possession.
It is for this exact reason we offer a simple and very cost effective solution. Through our partner firm Alan Boswell Insurance we have a range of award winning products that protect landlords from the risk by providing rental protection which covers all non-payment of rent (up to £2500 per month) and legal costs (up to £100,000) for all possession proceedings and court costs.
This cover even provides up to 3 months rent after possession is obtained, so this is a truly outstanding cover at a very affordable cost.
Alan Boswell Insurance are a very well respected local Norfolk firm based in Norwich and also offer specialist landlord buildings & contents cover too.
Please see full details at https://www.aldreds.co.uk/landlord-tenant-insurance
Record levels for February!
Aldreds lettings department have had an outstanding February with very high demand and an exceptional number of properties let.
Even with some Landlords mortgage rates increasing the average rent level growth has more than balanced this out meaning that rented property remains an excellent investment.
For those vendors with empty properties, renting during a difficult sales market provides many advantages including minimal costs as tenants will be paying the Council Tax and all utilities, no issues with insurance as the property will be not be vacant and perhaps the best advantage which is this gives breathing space to wait until the sales market returns to full strength.
Our Full Managed service covers every aspect of management and is ideal for first time Landlords. We will provide a full appraisal and cover all necessary legislation and how to maximise rental returns with minimal expense. We will market the property using all the most up to date methods such as video tours along with traditional staples, often overlooked by other agents, such as high quality photographs and floor plans. Taking great care to select the most suitable tenant and reference them thoroughly is absolutely key to a successful and stress free tenancy. We want our clients to be as involved as much as they wish with the final selection of tenant for their property.
Regular inspection visits and honest and open management of repairs are also very important and good communication with our Landlords during the tenancy means that we enjoy extremely high levels of client retention.
Please contact the lettings team to discuss your requirements and how our full range of services would be most suitable for your needs – phone 01493 849111.
