It’s difficult to remember a time when there was so much activity in the New Homes market; pretty much every village or town in Warwickshire are having their housing numbers boosted by the introduction of new dwellings, and for homebuyers this will be extremely good news.
There is a danger of over supply particularly in places like south Leamington Spa and Wellesbourne, however we believe that this over supply will be fairly temporary due to the extremely low numbers of new homes constructed over the last 20 years.
That being said there are some wonderful deals for the canny buyer, and if you get the timing right you can bag yourself a bargain. In recent weeks a well-known plc builder was offering over £50,000 worth of discounts and incentives for buyers willing to complete before the end of 2016, and it seems that the plc builders rather than the regionals are moving prices down aggressively early to clear out built, or soon to be built, stock.
The premium regional builders continue to sell better than the competition due to better product, smaller sites and more thoughtful design.
The latest findings from ARLA paint a positive picture for renters nationwide. The supply of rental stock has risen over the past 10 months, which suggests that reports of landlords pulling out of the market as a result of the referendum result or changing tax regime are not accurate.
This is supported in ARLA’s findings, which reveal the number of landlords selling their buy-to-let properties hasn’t changed since April.
Across our three lettings offices in Stratford upon Avon, Shipston and Leamington Spa we have not seen an oversupply of rental property but it is noticeable that tenants are remaining in rental properties for longer and are less inclined to move on, meaning that less properties are available. In normal circumstances this would create an opportunity to increase rents but currently it is also noticeable that rents in Stratford, for example, are not rising as they have done in previous years and any available properties must be priced sensitively in order to find good tenants within an acceptable timeframe. The advantage for landlords of this stability is that they avoid unwelcome void periods between tenancies.
We wait with interest to see the impact of increases in the taxation of landlords who have buy-to-let mortgages attached to their homes. Market experts are divided about the potential impact of the changes but Rightmove said that during September, buyer enquiries from potential landlords and investors were up 30% compared with May, after a short-term dip after the stamp duty changes came into force in April.
We are, however, confident that 2017 will bring new growth to the rental market. With various properties in the pipeline and growing rental yields, the buy to let market is still a good choice for investors in our areas.
We look forward to the next wave of investment properties hitting Stratford, Shipston, Leamington and Kenilworth’s rental markets and making sure Sheldon Bosley Knight Ltd are well placed with our skills, knowledge and expertise to take on the management of these properties. The team at Leamington has been further strengthened recently with the addition of Marc Martin, Rebecca Jones & Faye Mulkeirins who bring with them a wealth of knowledge and experience.
The Leamington branch of SBK recently celebrated the title of Top Selling Agent in the town, having won the independent survey of the number of sold boards in Leamington Spa.
Andrew James, Manager, commented “We are thrilled that so many clients have chosen us to sell their home this year. A great amount of our business comes from recommendations and it’s good to see the results of our hard work. Winning the board count is an endorsement of our commitment to service above all else.”
As a further endorsement of the excellent service provided by Andrew and his team at the Leamington branch, they received the following testimonials from some happy customers recently:
“A fantastic result on our sale and purchase of our latest properties, as always received from Andrew and the team @ SBK!” Mr L Wong, Leamington Spa
“Andrew was my first point of contact giving me sound and enthusiastic advice. Sophie and Norma create an excellent professional and friendly office to visit.” Mrs R Crampton, Leamington Spa
“I would like to express my sincere thanks and appreciation for the work done on my behalf by members of the Leamington office in relation to the recent sale of my home.
I would particularly like to say a huge thank you to Andrew James. From the moment that I enquired about putting my house on the market with you, he has been nothing short of exceptional. We had already found a house that we wanted to buy, and so it was important that my property went onto the market without delay and sold quickly. Andrew was fantastic in that respect; the house was on Rightmove within a couple of days of my instruction and he then arranged somewhere in the region of 20 viewings a week later. He priced the property brilliantly, leading to my receiving six offers, all in excess of the asking price.
He was calm, conscientious and diligent throughout the whole process. Communication with me was always excellent and timely. I should also say that the other members of staff from the Leamington office were also always helpful and supportive.
I would not hesitate to recommend Sheldon Bosley Knight to anyone.” Mrs L Walker, Leamington Spa