Tag: selling

Posted on

January 2025: What’s Happening in the UK Property Market?

What's Happening in the UK Property Market

What’s happening in the UK property market? Well, having welcomed a new year, the UK property market is already showing signs of activity that will mould the months ahead. January traditionally sets the tone for the year, and 2025 is no exception. Buyers, sellers, landlords, and renters are navigating frequent ups and downs influenced by economic factors, legislative changes, and evolving market trends.

Here’s our in-depth look at what’s happening in the UK property market and key developments in January 2025, along with advice to help you make informed decisions, whether you’re buying, selling, renting, or letting.

Buying Property in January 2025: Renewed Opportunities

January has started with cautious optimism for buyers. According to Halifax, the average UK house price in December 2024 was £297,166, reflecting a 3.3% annual increase

Mortgage rates are stabilising at an average of 4.5% for fixed-rate deals, making this an excellent time for buyers to plan their investments.

Tips for Buyers:

  • Compare Mortgage Options: With a variety of competitive products now available, consult a mortgage adviser to find a mortgage that suits your long-term goals. Use our mortgage calculator here.
  • Negotiate Strategically: Sellers in today’s market may be more flexible on price, especially for properties that have been listed for an extended period.
  • Consider Energy-Efficient Homes: Homes with higher Energy Performance Certificate (EPC) ratings are increasingly attractive and could offer savings on utilities.

Explore property for sale in Tower Hamlets on our website to find your ideal home.

Selling Property: Adapting to Buyer Expectations

The time it takes to sell a property remains consistent at around 58 days on average, as reported by recent data from Zoopla

January is an excellent time to list your property, as buyer interest typically rises after the Christmas holidays.

Tips for Sellers:

  • Focus on Kerb Appeal: Simple improvements, such as repainting the front door or tidying the garden, can make a significant difference.
  • Price Realistically: Use insights into local market data from our team at City Realtor to set a competitive price that reflects current trends.
  • Stage Your Home: Professional home staging can highlight your property’s best features and appeal to more buyers.

Request a valuation of your property in Tower Hamlets today and get expert guidance on achieving the best price.

Landlords: Preparing for 2025’s Challenges…and Opportunities

The private rental sector is undergoing transformation with the rollout of the Renters’ Reform Bill and the upcoming 2028 deadline for rental properties to achieve an EPC rating of “C” or higher. Rental demand remains strong, with the average monthly rent in the UK reaching £1,270, a 3.9% year-on-year increase.

Tips for Landlords:

  • Stay Ahead of Regulations: Review the EPC ratings of your properties and plan necessary upgrades now to avoid last-minute expenses.
  • Enhance Tenant Retention: Offer longer tenancy agreements or make minor improvements to maintain a stable income.
  • Consider Property Management Services: Navigating compliance can be complex; hiring a professional service can save time and reduce stress.

Discover how we support landlords in Tower Hamlets with our expert advice and services. Call 0207 790 7702.

Renters: Navigating Rising Rents and New Protections

The rental market remains competitive, but tenants now benefit from stronger rights under the Renters’ Reform Bill. January has seen continued demand for rental properties in Tower Hamlets.

Tips for Renters:

  • Be Prepared: Keep references, ID, and proof of income ready to act quickly when you find a suitable property.
  • Understand Your Rights: Familiarise yourself with the new legislation to ensure you’re protected from unfair practices.
  • Expand Your Search Area: Flexibility on location or property type can open more options in a competitive market.

Visit our website to browse our latest rental properties in Tower Hamlets to secure your next home.

Market Projections for 2025

The Bank of England has signalled no immediate changes to interest rates, which are expected to remain stable through the first quarter of 2025. This stability will likely encourage more transactions across the property market.

Key Statistics:

Average UK house price: £297,166 (December 2024)

Average rent: £1,270 per month

Time to sell: 58 days

January 2025 marks a promising start to the year for the UK property market. With careful planning and expert guidance, buyers, sellers, landlords, and renters can navigate these times effectively.

Whether you’re looking to buy, sell, rent, or let a property, City Realtor is here to help.

What Next?

City Realtor brings you all the latest property market news each month. For more localised property news in Tower Hamlets, please contact the team at City Realtor on 0207 790 7702 or admin@cityrealtor.co.uk.

Do you require a valuation or no-obligation advice on buying or selling a home in Tower Hamlets? Please contact our expert property team at City Realtor on 0207 790 7702 or email us at admin@cityrealtor.co.uk, and we will be delighted to help you.

Don’t forget to follow us on our socials for updates and new listings!

Follow us on Facebook, connect with us on X, join us on Instagram, find us on TikTok, see us on LinkedIn, watch our YouTube Videos!

Good luck if you are buying a home, or considering putting your property in Tower Hamlets on the market. We’ve answered your FAQ’s here.

Note: The information in this article is based on data as of December 2024/January 2025 and may change. Always seek professional advice for specific circumstances.

Posted on

New Year Decluttering! Your Ultimate Guide

New Year Decluttering

Selling your home can feel like a daunting process, but there’s one simple step that can make all the difference: understanding how to declutter. Creating a tidy, organised space is essential for attracting buyers and securing the best offers. When your home feels spacious and inviting, buyers can focus on its potential rather than distractions.

At City Realtor, we’ve seen first-hand how a well-decluttered home can speed up the selling process if your property is for sale in Tower Hamlets.

So, let’s look at why decluttering matters and how it can make your property stand out in the market.

Why Decluttering Matters When Selling

Decluttering isn’t just about tidying up – it’s about creating an environment where potential buyers can see themselves living. An organised home:

  • Looks more spacious, allowing viewers to visualise how they’d use the space.
  • Highlights your property’s best features, like natural light or built-in storage.
  • Gives the impression of a well-maintained home, adding perceived value.

If you’re selling a property in Tower Hamlets, decluttering is one of the most cost-effective ways to enhance its appeal.

Where to Begin?

It’s easy to feel overwhelmed when faced with a whole house to declutter. Start small and work systematically. Here’s how:

  • Create a Plan: List all the rooms and outdoor areas, and tackle them one at a time.
  • Gather Supplies: Stock up on boxes, bags, and labels for sorting items.
  • Focus on Key Spaces: Prioritise areas ready for viewings, like the living room, kitchen, and master bedroom.

Remember, viewers are likely to open cupboards, so ‘out of sight, out of mind isn’t an option – organise them neatly.

The 4 Box Method: A Decluttering Favourite

One of the most effective ways to declutter is using the 4 Box Method. This simple but effective approach ensures you stay organised and make clear decisions about each item.

Here’s how it works:

  • Box 1: Keep
    Place items you use regularly or need for daily life in this box. These will stay in your home during the sale.
  • Box 2: Donate
    For items in good condition that you no longer need, pop them in this box and take them to a local charity in Tower Hamlets.
  • Box 3: Sell
    If you have items with monetary value, like furniture or electronics, place them in this box. Online platforms such as Facebook Marketplace or Gumtree are great options to sell them.
  • Box 4: Bin
    For broken, damaged, or unusable items, dispose of them responsibly through recycling or rubbish collection.

The 4 Box Method is a quick, logical way to tackle clutter without becoming overwhelmed. Plus, it’s satisfying to see those boxes fill up!

You may also be interested to read our 9 Moving Home Packing Tips

Creative Tips for Decluttering

Decluttering doesn’t have to be boring. Here are some fun ideas to get your home clutter-free and market ready:

  • The “One-Year Rule”: If you haven’t used something in over a year, it’s time to let it go.
  • Use a Timer: Set a 15-minute timer and see how much you can tidy up – it’s surprisingly motivating!
  • Create Zones: Label boxes for ‘keep’, ‘donate’, ‘sell’, and ‘bin’ to streamline decision-making.
  • Turn it into a Game: Challenge your family to see who can fill a donation box first.

By making decluttering enjoyable, you’ll stay motivated and on track.

Tips for Specific Areas

Every corner of your home deserves attention when decluttering. Here are some comprehensive tips for tackling the most commonly cluttered spaces:

Living Room

The living room is often the heart of the home, so it needs to feel inviting and spacious:

  • Streamline Décor: Limit decorative items to a few neutral, tasteful pieces, such as a vase or a coffee table book.
  • Declutter Surfaces: Remove remote controls, magazines, toys, or other personal items from surfaces like coffee tables and shelves.
  • Minimise Furniture: Remove any unnecessary furniture to create more space and improve the room’s flow.
  • Organise Cables: Hide wires and cables from electronics using clips or cable boxes.
  • Neutral Colour Palette: Swap bold cushions or throws for neutral tones to appeal to a wider audience.

Kitchen

Buyers love a clean, functional kitchen that feels spacious and organised:

  • Clear Worktops: Remove appliances you don’t use daily, such as blenders, toasters, or coffee machines.
  • Tidy Cupboards: Arrange items neatly, grouping similar items together (e.g., spices, cans, jars). Consider leaving some empty space to make storage appear larger.
  • Declutter Drawers: Sort through ‘junk drawers’ and remove items like old takeaway menus, batteries, or chargers.
  • Streamline Pantry: Check expiry dates on food and throw away anything past its prime. Group items by category (e.g., baking supplies, snacks etc).
  • Polish Fixtures: Clean taps, sinks, and worktops to a sparkling finish. Buyers will notice!

Bedrooms

Bedrooms should feel restful and spacious, so less is definitely more:

  • Store Personal Items: Pack away family photos, trophies, or memorabilia to keep the space neutral.
  • Simplify Bedside Tables: Limit items to a lamp, a book, a clock, or a small plant.
  • Tidy Wardrobes: Showcase your storage by hanging clothes neatly, organising shoes, and leaving some empty space to give the impression of roominess.
  • Invest in Storage Solutions: Use under-bed storage for items like seasonal clothing or spare bedding.
  • Add Inviting Touches: Use neutral, coordinated bedding and cushions to create a cosy, welcoming atmosphere.

Bathrooms

Bathrooms should feel clean and spa-like, not cluttered with personal products:

  • Clear Surfaces: Remove items like toothbrushes, razors, or makeup from shelves. Store them in cabinets or baskets.
  • Organise Cabinets: Sort toiletries and discard any expired products. 
  • Add Simple Décor: A small vase of fresh flowers or a neutral soap dispenser can add a touch of elegance.
  • Polish and Shine: Ensure taps, mirrors, and tiles are gleaming. Buyers will appreciate the attention to detail.
  • Neutral Scents: Use subtle air fresheners or diffusers to create a clean, pleasant aroma.

Outdoor Spaces

Your garden, patio, or balcony is the first impression of your property’s exterior. Keep it tidy and inviting:

  • Tidy Up Greenery: Mow the lawn, trim hedges, and remove weeds to create a neat appearance.
  • Declutter Outdoor Furniture: Keep only a few tasteful items, such as a small table and chairs or a bench.
  • Store Tools: Put gardening tools, hoses, or lawn equipment neatly in a shed or garage.
  • Sweep Paths and Patios: Clear debris from pathways and ensure patios and decking are clean and free of stains.
  • Add Finishing Touches: Potted plants or hanging baskets can brighten up the space and add kerb appeal.

Home Office (if applicable)

With remote work commonplace, a tidy home office is a big selling point:

  • Organise Papers: Sort and file documents, and shred anything you no longer need.
  • Minimise Desk Clutter: Keep the desk surface as clear as possible, limiting items to a laptop, a notepad, and a pen.
  • Hide Cables: Use cable organisers to keep wires tidy and out of sight.
  • Use Storage Boxes: Store supplies like pens, staplers, or sticky notes in attractive boxes or containers.
  • Neutral Décor: Avoid overly personal touches like motivational posters. Opt for clean and professional!

By focusing on each of these areas and addressing their specific needs, you’ll create a home that feels polished, welcoming, and ready to impress potential buyers.

Bonus Decluttering Tips

Want to go beyond the basics? Try these approaches:

  • Rent a Storage Unit: If you have large furniture or sentimental items you can’t part with, storing them temporarily can create space while your property is on the market.
  • Borrow a Fresh Perspective: Invite a friend to walk through your home as if they were a buyer. They might spot clutter you’ve overlooked.

What to Do With Unwanted Items

Decluttering often leaves you with piles of things you no longer need. Here’s how to handle them sustainably:

  • Donate: Local charities in Tower Hamlets often accept clothes, furniture, and books.
  • Sell: Platforms like Facebook Marketplace, eBay, or Gumtree are great for offloading items while earning a bit of cash.
  • Recycle: Ensure items like electronics or glass are recycled correctly.

The aim is to clear your home without filling up the landfill!

Keep it Buyer-Ready

Once you’ve decluttered, it’s important to maintain all that lovely spaciousness, especially during viewings. Here’s how to stay on top of things:

  • Create a “Viewing Kit”: Keep a box of essentials – like a basket for stray clutter, cleaning wipes, and a fresh-scented spray – ready for last-minute viewings.
  • Store Excess Items: Use decorative storage baskets or boxes to hide clutter while maintaining style.
  • Adopt a Minimalist Mindset: Keep only what you need to avoid the clutter creeping back in.

Why City Realtor Can Help

Decluttering is a powerful way to maximise your property’s potential. By creating a clean, organised space, you’ll attract more viewings and make the selling process smoother. At City Realtor, we’re here to support you every step of the way. For more tips or to discuss marketing your property for sale in Tower Hamlets, call us on 0207 790 7702 or email us at admin@cityrealtor.co.uk.

As your local estate agent in Tower Hamlets, we understand exactly what buyers in this area are looking for. Decluttering is just one part of preparing your property for sale in Tower Hamlets. Our team can offer expert advice on staging, marketing, and more to ensure your home sells quickly and at the best price.

In the meantime, we’ve answered some of your common questions about decluttering.

Frequently Asked Questions

Why should I declutter before selling my home?

Decluttering helps your home look more spacious and appealing, making it easier for buyers to visualise themselves living there.

Can decluttering really increase my property’s value?

Yes! A tidy home often feels more well-maintained, which can translate into higher offers.

What should I do with items I want to keep but don’t have space for?

Consider renting a storage unit or neatly storing them in less-used areas of your home.

How do I declutter quickly for a last-minute viewing?

Keep a basket handy to gather stray items, give surfaces a quick wipe, and use air freshener to ensure your home smells fresh.

How can I make decluttering more sustainable?

Donate usable items, sell things online, and recycle responsibly to minimise waste.

Can City Realtor help with staging tips?

Absolutely! We can provide tailored advice to make your property in Tower Hamlets stand out.

What Next?

Do you require a valuation or no-obligation advice on buying or selling a property in Tower Hamlets? Please contact our expert property team at City Realtor on 0207 790 7702 or email us at admin@cityrealtor.co.uk, and we will be delighted to help you.

Don’t forget to follow us on our socials for updates and new listings!

Follow us on Facebook, connect with us on X, join us on Instagram, find us on TikTok, see us on LinkedIn, watch our YouTube Videos!

Good luck if you are buying a home, or considering putting your property in Tower Hamlets on the market. We’ve answered your FAQ’s here.

Posted on

Is Your Estate Agent Holding You Back: New Year, New Agent?

Is Your Estate Agent Holding You Back New Year New Agent?

Are you selling your property in Tower Hamlets? If interest has slowed, you may be wondering whether it’s time to switch estate agents. After all, a new year is almost upon us and with it, new opportunities! A change of estate agent could be just what you need to sell your home quickly and for the best possible price.

Why Consider a New Agent?

There are many reasons why you should consider switching estate agents. Perhaps your current agent isn’t proactive enough, or you’re not happy with their communication skills. Maybe you’re simply not getting the results you were hoping for?

If you’re feeling dissatisfied with your current agent, it’s important to act sooner rather than later. The longer you wait, the more time you’ll lose, so switching to a new agent could give your property marketing a much-needed boost.

Get a free instant valuation on your property in Tower Hamlets here.

How to Choose the Right Agent

Choosing the right estate agent is crucial. Here are our tips to help you make the best decision:

1. Do Your Research: Ask friends, family, and colleagues for their recommendations. You should also read online reviews and visit each agent’s website. Why choose us? Find out here.

2. Interview Multiple Agents: Don’t just settle for the first agent you meet. Speak with several different agents and compare their services, fees, and marketing strategies. The City Realtor team is super friendly and always willing to go the extra mile to ensure your selling experience is stress-free.

Book a valuation here.

3. Ask the Right Questions: When considering agents, don’t just ask about their fees! Their experience, marketing strategies, local knowledge and understanding of the current market conditions are important too.

4. Choose an Agent Who’s a Good Fit: It’s wise to choose an agent who you feel comfortable with. You should be able to trust them to handle your property sale with care and professionalism.

Tips for Selling Your Property in Tower Hamlets

In addition to choosing the right estate agent in Tower Hamlets, we’ve got some practical tips to help you sell your property faster and for a higher price:

  • Declutter and Depersonalise: A clutter-free and neutral space can make your property more appealing to potential buyers. Remove excess furniture, personal items, and unnecessary clutter.
  • Stage Your Home: Staging can significantly enhance the presentation of your property. Consider hiring a professional home staging company to create a welcoming and inviting atmosphere.
  • Enhance Kerb Appeal: A well-maintained exterior can make a great first impression. Pay attention to your front door, landscaping, and overall exterior appearance.
  • High-Quality Photography: Professional photos will showcase your property’s best features. Invest in high-quality photography to attract potential buyers. Ask us
  • Price It Right: A well-priced property is more likely to attract offers. Your estate agent will help you determine the correct value.
  • Be Flexible with Viewings: Accommodate potential buyers’ schedules and be flexible with viewing times where possible.

Why Choose City Realtor?

At City Realtor, we pride ourselves on providing exceptional service to our clients. We’re passionate about helping you sell your property in Tower Hamlets quickly, with no stress, and for the best price.

Our experienced team has a wealth of knowledge and expertise. We’ll work hard to market your property effectively and negotiate the best possible deal on your behalf.

If you’re looking for a new estate agent in Tower Hamlets to sell your property, please contact us. We’ll be delighted to discuss your specific needs and answer any questions you may have.

What Next?

Do you require a valuation or no-obligation advice on buying or selling a home in Tower Hamlets? Please contact our expert property team at City Realtor on 0207 790 7702 or email us at admin@cityrealtor.co.uk, and we will be delighted to help you.

Don’t forget to follow us on our socials for updates and new listings!

Follow us on Facebook, connect with us on X, join us on Instagram, find us on TikTok, see us on LinkedIn, watch our YouTube Videos!

Good luck if you are buying a home, or considering putting your property in Tower Hamlets on the market. We’ve answered your FAQ’s here.

We’ve also answered some of your common questions about switching estate agents in Tower Hamlets:

Frequently Asked Questions About Switching Estate Agents

Can I switch estate agent mid-sale?

Yes, you can usually switch estate agents’ mid-sale. However, it’s important to be aware of any contractual obligations with your current agent and any potential fees associated with early termination.

What are the benefits of switching estate agents?

Switching estate agents can offer several benefits, including:

  • Access to a wider pool of potential buyers
  • Improved marketing strategies and exposure
  • More experienced and knowledgeable agents
  • Better communication and responsiveness
  • Potential for a higher selling price

How do I switch estate agents?

To switch estate agents, you typically need to provide written notice to your current agent, terminating the agency agreement. You can then enter into a new agreement with your chosen agent.

Will switching estate agents delay my sale?

While switching estate agents may temporarily delay the sale process, a more experienced or motivated agent can often accelerate the process. It’s important to choose a new agent who can quickly take over the marketing.

Posted on

How to Move Home Stress-Free in Tower Hamlets

How to Move Home Stress Free in Tower Hamlets

According to a recent survey, 60% of Brits have put off looking for a new home purely because of the pressures involved with the moving process.

What’s more, 34% said that they had suffered severe anxiety as a result of their last move and 65% experienced sleeping problems.

However, it doesn’t have to be such a terrible ordeal.

Moving home in Tower Hamlets should, and can, be an exciting time. A chance to start afresh, seek out new opportunities and make your new property your own.

Make Moving House Hassle-Free

Research a removals company

You are going to be moving all your worldly possessions from your old home to your new one, so you need to make sure that they are in safe hands. Therefore, it is vital that you spend time researching removal companies in advance to ensure you find a reputable and trustworthy company.

If possible, ask family and friends for recommendations, as well as reading a variety of online reviews from previous customers. We are also happy to give you our local recommendations – just contact us!

It is a good idea to choose two or three removal firms to provide you with quotations before the big day so that you achieve a competitive price and know your moving needs will be adequately catered for.

Have a thorough clear out

Now is the ideal time to get rid of any unwanted belongings, such as furniture that won’t fit or won’t be required in your new home, any clutter that has been piling up in the back of your cupboards, and any items that are surplus to your needs. Don’t forget about the garden, the loft (if you have one) and any outdoor storage areas.

Make a packing plan

You may think that you can get your packing completed in a matter of days, but sadly, this exciting, yet arduous task always takes longer than you think it will! Especially if you want to pack effectively so that the unpacking process in your new home can be carried out quickly.

Read our 9 Packing Tips for a Smooth Move

It is a good idea to use colour labelling on your moving boxes, for example, blue for the bathroom, yellow for the kitchen and so on. Work your way systematically through each room, including the garden, and complete the packing for that room or area before moving onto the next.

Take care of all moving admin

You will have enough to deal with on the big day without having to worry about locating paperwork, or carrying out vital administrative tasks that could have been taken care of weeks earlier.

Before moving to a new house you should:

  • Redirect your post – you can sign up to Royal Mail’s redirection service if you need more time to contact all your providers.
  • Transfer school records. If you have children who will be attending a new school in Tower Hamlets, you should ensure their school records are sent over before you move.
  • Ensure you are insured for moving. Check to see if your belongings insurance covers a house move and if not, ask your removal company if they can provide further cover.
  • Inform your utility companies about your move, including your home insurance providers. You should also take the gas, electricity and water meter readings before you leave your property.
  • Confirm your moving day. This may seem an obvious task, but you will be surprised by how many people forget to do this.
  • You also need to ensure that you have details regarding the collection of keys to your new property from your estate agent in Tower Hamlets.

Source a survival kit

If you want to have a smooth and stress-free journey from your old home to your new one, then you will need a moving day survival kit. This should include supplies that you will need throughout the day, so you do not need to go rummaging through your packed boxes.

Items you may want to include are:

  • Important documents such as information relating to your new home, contact details of your removal company, and any relevant insurance documents
  • Mobile phone chargers
  • Bottles of water and snacks
  • Games or devices to keep the kids occupied
  • Pet feeding bowls, food, toys and lead
  • Tea, coffee and a kettle
  • Loo roll!

It is also recommended that you pack a basic overnight bag so that you will have access to bed linen, clean clothes, toiletries, medications, and snacks for the next morning.

Your survival kit will ensure you are organised on moving day and ready to start unpacking boxes in your new home stress free!

Make Moving Home Stress-Free With Our Help

For further advice and for help with a stress-free move to a new property in Tower Hamlets, contact the friendly team at City Realtor on 0207 790 7702. We look forward to assisting you.

Frequently Asked Questions About Moving House Stress-Free

I’m worried about packing all my belongings. Should I start weeks in advance?

Packing takes longer than expected. Start packing early and create a room-by-room plan to stay organised.

Is hiring a professional removals company worth the cost?

For peace of mind and a smooth move, the option to hire professional movers is a good one. They’ll handle the heavy lifting and ensure your belongings are safe.

How can I save money on moving costs?

Declutter ruthlessly! Fewer things mean fewer boxes and potentially a lower quote from a moving company.

When should I notify the council about my council tax?

Inform your local council about your move in advance. If the property you’ve moved into doesn’t already have a Council Tax band, you should contact your local council.

What Next?

Do you require a valuation or no-obligation advice on buying or selling a property in Tower Hamlets? Please contact our expert property team at City Realtor on 0207 790 7702 or email us at admin@cityrealtor.co.uk, and we will be delighted to help you.

Don’t forget to follow us on our socials for updates and new listings!

Follow us on Facebook, connect with us on X, join us on Instagram, find us on TikTok, see us on LinkedIn, watch our YouTube Videos!

Good luck if you are buying a home, or considering putting your property in Tower Hamlets on the market. We’ve answered your FAQ’s here.

Posted on

November 2024 Property Market Update

November 2024 Property Market Update

As November comes to an end, the UK property market reveals key trends that shape buying, selling, renting, and letting activities. Shifts in the economy, regional differences in house prices, and changes in rental demand are shaping the property market in Tower Hamlets. This months update looks at the key trends and insights to help you stay ahead in the market.

Market Overview

The Office for National Statistics (ONS) reported that average UK house prices increased to £293,000 in August 2024, reflecting a 2.8% annual increase from the previous year. This growth is driven by consistent demand, with regional variations: England’s average price was £310,000 (up 2.3%), Wales £223,000 (up 3.5%), and Scotland £200,000 (a notable rise of 5.4%).

Meanwhile, private rent inflation remains high, with average UK private rents rising by 8.4% in the 12 months to September 2024. Average monthly rents in England reached £1,336, with London seeing the highest growth (9.8%). 

*Data from ONS October 2024 Bulletin

Navigating the Market as a Buyer

The Bank of England recently adjusted its base interest rate to 4.75%, improving mortgage affordability for many buyers. This adjustment has made mortgage rates more competitive, offering prospective homebuyers in Tower Hamlets an opportunity to access lower monthly payments and enhanced affordability compared to the peak rate levels seen in previous months. Lower interest rates can also boost buyer confidence, encouraging more first-time buyers and existing homeowners to consider entering the market or remortgaging for improved terms.

Tip for Buyers:

Securing a mortgage pre-approval before beginning to search for property in Tower Hamlets not only demonstrates your commitment to proceed but also gives you a clear understanding of your budget. This proactive approach makes you stronger in a competitive market, particularly when competing against cash buyers or those without mortgage pre-approval. 

You can use our mortgage calculator to work out what your up-to-date monthly mortgage payments will be.

Maximising Your Sale Success

Sellers are seeing increased market activity. Recent Rightmove data indicates a 27% rise in sales agreed year-on-year, reflecting strong demand, though buyers remain price-conscious due to economic factors including cost-of-living pressures and mortgage rate fluctuations. For sellers, this means striking the right balance in pricing is critical to capturing buyer interest while remaining competitive. 

Not on the market yet? City Realtor is your local estate agent in Tower Hamlets. To request a valuation please call 0207 790 7702.

Tip for Sellers:

Setting the right price for your property in Tower Hamlets is crucial for attracting serious buyers quickly. We will expertly value your home so that you achieve the price you deserve for your property. Additionally, you may wish to consider staging your home for viewings. Decluttering, making necessary repairs, and enhancing kerb appeal can all elevate buyer interest, potentially leading to faster offers at or above the asking price.

Landlord Strategies for a Changing Market

The rental market remains buoyant, with average UK rents climbing significantly over the past year, driven by strong demand and limited supply in many regions. Rising rental costs have made it increasingly competitive for tenants, especially in high-demand areas such as Tower Hamlets. However, landlords need to be mindful of policy changes, such as the 2% increase in Stamp Duty Land Tax on additional properties. This adjustment may affect long-term investment strategies, potentially prompting a reassessment of portfolio growth, returns, and the viability of new property acquisitions.

Landlords: We can take control of all moving parts and liaise with the appropriate parties to make the letting process as smooth as possible. Our team of experienced managers will complete every step in preparing your property for let. Contact us here.

Tip for Landlords:

Understanding compliance and legislative changes is critical for maximising rental yield in Tower Hamlets. Regularly review your rental portfolio with a property tax advisor to assess the implications on tax relief, deductions, or changes in tenant rights. Consider investing in energy efficiency improvements, as government incentives and tenant demand for greener homes may lead to longer tenancies and reduced void periods. Communication with tenants about their expectations and maintenance needs can also build stronger relationships, minimising costly turnover.

Securing Your Next Home as a Renter

Renters face a highly competitive market, characterised by strong demand for available properties and rapidly shifting rental prices. The government is working to make housing more affordable by expanding social housing options and giving tenants more rights, aiming to ease the pressure on renters struggling with rising costs. However, while these measures offer hope, the market remains difficult for many renters, particularly in high-demand areas where supply remains constrained.

Tip for Renters:

Begin your search for rental properties in Tower Hamlets well in advance to increase your chances of finding a suitable home. Ensure you have necessary documents, such as identification, proof of income, and references, ready prepared for quick submission. A solid credit score and positive rental history can give you an advantage over other applicants. If negotiating with landlords, emphasise your stability and reliability to potentially secure more favourable lease terms. 

Oldest, Largest, Smallest!

Did you know that the UK’s oldest surviving house is over 11,000 years old and located at Star Carr in North Yorkshire? The dwelling offers insight into Britain’s early settlement patterns, illustrating how the evolution of housing has shaped today’s market landscape.

From the oldest to the largest! The UK’s biggest private residence, Wentworth Woodhouse in South Yorkshire has over 300 rooms and spans 250,000 square feet. Its grand Baroque and Palladian architecture is an incredible example of Britain’s rich historical legacy and reflects how luxury and scale remain a unique part of the property market.

In stark contrast, one of the UK’s smallest detached houses, at just 290 square feet, was recently marketed for £1.2million in Chelsea, West London, which highlights the creativity and premium pricing often found in high-demand urban areas.

Looking Ahead

The UK property market is expected to remain stable as 2024 closes, with potential growth of 2.5% to 4% predicted over the next two years. Economic shifts, interest rate adjustments, and evolving housing policies will continue to shape market trends.

What Next?

City Realtor brings you all the latest property market news each month. For more localised property news in Tower Hamlets, please contact the team at City Realtor on 0207 790 7702 or admin@cityrealtor.co.uk.

Do you require a valuation or no-obligation advice on buying or selling a home in Tower Hamlets? Please contact our expert property team at City Realtor on 0207 790 7702 or email us at admin@cityrealtor.co.uk, and we will be delighted to help you.

Don’t forget to follow us on our socials for updates and new listings!

Follow us on Facebook, connect with us on X, join us on Instagram, find us on TikTok, see us on LinkedIn, watch our YouTube Videos!

Good luck if you are buying a home, or considering putting your property in Tower Hamlets on the market. We’ve answered your FAQ’s here.

Note: The information in this article is based on data as of November 2024 and may change. Always seek professional advice for specific circumstances.

Posted on

15 Ways to Create a Cosy and Inviting Atmosphere for Winter Home Viewings

15 Ways to Create a Cosy and Inviting Atmosphere for Winter Home Viewings

Shorter days, colder temperatures, and grey skies can make it challenging to present your home at its best in winter. But don’t fret, because creating a cosy and inviting atmosphere for winter home viewings is easier than you might think.

As a homeowner, you want potential buyers to feel warm and welcome from the moment they step through the door to your home. So, the team at City Realtor has come up with 15 top tips (and a few unexpected tricks) to help your home stand out in the winter market, attracting buyers looking for a property in Tower Hamlets.

1. Warm Up the Entrance

First impressions matter! Make sure your entrance sets the tone. Consider adding a doormat with a welcoming winter design and a seasonal wreath on your front door. Keeping the pathway clear of snow, ice, or leaves is crucial for both safety and presentation. If you have an exterior porch light, a soft amber bulb can create a warm and charming glow.

2. Get the Temperature Just Right

There’s nothing worse than walking into a cold house during winter. Ensure your heating is on before viewings, creating a toasty environment, and if you have a log burner or open fire, make sure you light it! This warmth will encourage potential buyers to linger, helping them imagine themselves living there. A programmable thermostat is a great addition if you have multiple viewings, plus, it hints at energy efficiency. If you’re looking to sell your property in Tower Hamlets, this small touch can leave a lasting impact.

3. Highlight a Cosy Corner

Every home can benefit from a dedicated cosy spot. Whether it’s a reading nook with a comfy chair, a crackling fireplace, or a thick, inviting rug, showcasing a designated ‘cosy corner’ makes the home feel like a sanctuary. Layering textures like throws, pillows, and knitted fabrics adds to this ambience, so potential buyers can envision themselves curling up in the space with a good book, a hot chocolate or a glass of wine.

4. Scent Matters

Appealing to the senses is crucial for creating a homely feel. While fresh flowers work well all year round, using scent strategically can be just as powerful. Think cinnamon, cloves, and baked apples, or mulled wine on the stove during viewings. Alternatively, if it’s safe to do so and it won’t be left unattended, light a scented candle before viewings. It’s simple yet effective for creating an atmosphere that leaves a lasting impression. The right scents can transform any property for sale in Tower Hamlets into an inviting, memorable home.

5. Focus on Lighting (Layer It Up!)

Natural light may be limited, but artificial lighting can work wonders in winter. Layer your lighting using floor lamps, table lamps, and soft wall lights. Ensure no room feels dim or shadowy, particularly during late afternoon and evening viewings. Opt for warm-toned lightbulbs to give off a more comfortable, intimate glow. Flameless candles (for safety) can be placed in fireplaces or on side tables to enhance the feeling of warmth.

6. Offer a Cup of Comfort

If you are present during viewings, why not treat visitors to a little warmth on a cold day? Offering comforting drinks like hot chocolate can set you apart. This simple hospitality gesture will help make your property stick in buyers’ memories long after they’ve left. Not going to be present for viewings? Simply leave a tray of goodies on the kitchen worktop for your viewers.

7. Dress the Windows

Curtains and blinds should always be pulled wide open during daylight hours in winter to let in as much natural light as possible. As the sun sets, think about using heavier curtains with a warm pattern or rich colours for a snug feel. Window dressings can often change the entire feel of a room and enhance its cosiness.

8. Keep Things Spotlessly Clean

Winter can bring mud and moisture indoors. Regularly clean the porch, hallway, and carpets to ensure potential buyers aren’t put off by grubbiness. Cleanliness enhances the ‘move-in-ready’ feel – always a strong selling point!

9. Add Seasonal Decor with Subtlety

Seasonal touches can help create a strong emotional connection with viewers. Think fairy lights, understated garlands, or a simple bowl of pinecones. But, avoid anything too flashy or gaudy. Minimalistic but tasteful is key!

10. Showcase Energy Efficiency

In winter, features like double glazing, insulation, and efficient heating systems become even more important to your viewers. Energy costs can be a big concern in winter, so demonstrating the energy-saving capabilities of your property in Tower Hamlets is a smart move. 

11. Create a Focal Point with Fireplaces

If you have a fireplace, make sure it’s clean and lit (or at least staged with logs and flameless candles). This feature can be a huge selling point and one that can add instant charm during winter home viewings. Modern or traditional, a fireplace makes any room more memorable.

12. Layer Up Soft Furnishings

In winter, swap lighter fabrics for more plush materials. Cushions, velvet throws, or faux fur blankets can elevate the look of a room – especially the sitting room and bedrooms, making them more appealing and cosy. Your aim? To make viewers feel tempted to sink into a comfy seat when they enter the room!

13. Offer a Glimpse of Winter Outdoor Living

If you have a garden, decking, or patio area, stage it to show potential buyers how they might enjoy this space even in winter. Add an outdoor heater or a firepit, and string some lights up to showcase the area as an extension of your cosy interior.

14. Use Mirrors for More Light

Mirrors can reflect both natural and artificial light around a room, making the space feel bigger and brighter. Strategically placed mirrors can also enhance the wintery feel, reflecting twinkling lights or the glow of a flameless candle.

15. Remember Safety and Accessibility

Finally, ensure that the safety of viewers is paramount in winter. Pathways should be clear of ice, well-lit, and safe for viewings during the darker evenings. Accessibility and safety are small details that can make a big difference to potential buyers.

What Next?

Creating a cosy atmosphere during winter viewings helps prospective buyers see your property as their future home. At City Realtor, we’re here to guide you every step of the way.

If you’d like more tips or to arrange a valuation, get in touch with us today on 0207 790 7702 or email admin@cityrealtor.co.uk.

In the meantime, we’ve answered some of your common questions about winter home viewings

Frequently Asked Questions About Home Viewings:

How do I make my home stand out for winter viewings?

Focus on warmth, lighting, and small seasonal touches to create a welcoming atmosphere.

Should I keep the heating on during home viewings?

Yes, ensure your home is warm for visitors. A toasty temperature makes the home feel more inviting.

How can scent enhance home viewings?

Use scents like cinnamon or baked goods to create a homely, memorable experience for buyers.

Do I need to decorate for winter home viewings?

Minimal seasonal decor can be effective, but avoid clutter or over-the-top displays.

What should I do with outdoor spaces in winter?

Show buyers how they can still enjoy outdoor spaces by staging areas with heaters or fire pits.

Is lighting really that important?

Absolutely. Good lighting makes spaces feel bigger, warmer, and more appealing, particularly in winter.

What Next?

Do you require a valuation or no-obligation advice on buying or selling a property in Tower Hamlets? Please contact our expert property team at City Realtor on 0207 790 7702 or email us at admin@cityrealtor.co.uk, and we will be delighted to help you.

Don’t forget to follow us on our socials for updates and new listings!

Follow us on Facebook, connect with us on X, join us on Instagram, find us on TikTok, see us on LinkedIn, watch our YouTube Videos!

Good luck if you are buying a home, or considering putting your property in Tower Hamlets on the market. We’ve answered your FAQ’s here.

Posted on

Selling Your Home? Here’s How to Get Your Energy Performance Certificate (EPC)

How to get an energy performance certificate EPC

Since 2007, anyone who sells their home in England and Wales needs to get an Energy Performance Certificate, or EPC. An EPC is a rating of energy efficiency, which runs from A at the most efficient, to G, the least efficient. 

This helps homebuyers work out the rough cost of energy if they move into your property, and with many people now concerned about environmental matters, an efficient home can be a selling point.

Here’s how you can get your energy performance certificate and ensure the best possible rating.

What does the EPC tell you?

Not only do energy performance certificates include the current energy efficiency rating from A to G as well as 1-100, but they also show the potential rating the property could achieve if certain improvements were carried out. This is useful for those selling homes as fixer-uppers, as it allows you to show the home’s potential.

Included in the EPC is the environmental CO2 impact rating, which gives you an idea of the amount of CO2 that will be produced when heating and using hot water in the home.

Do I need to get an EPC?

Most residential properties up for sale since 2007 have needed an EPC, and if you’re renting out a property, you’ll need to get one produced every 10 years.

There are a few exceptions that might apply, although most exemptions are for commercial or religious buildings. If it’s a mixed-use building, such as a house that is part of a shop, if it’s less than 50m2 or if it’s used less than four months a year, for example, a holiday home, then you may be exempt.

How is an EPC generated?

EPCs are produced by expert assessors who’ll arrange to visit your property in Tower Hamlets once you’ve decided to sell. The assessor carries out a number of inspections, such as:

  • Loft insulation
  • Boiler
  • Double glazing
  • Hot water tank
  • Radiators

Once they’ve noted down some information, this is entered into specialist software which helps them calculate how energy efficient your home is, as well as its environmental impact.

These measurements are easy to carry out, there’s no drilling or noise, and it’s non-invasive, so there is no risk that things will get damaged.

The homeowner is the one who pays for the EPC, but the good news is that it’s not expensive. It’s easy to compare prices online, and you can use any assessor to do the report, as long as they’re certified.

Improving your EPC

Your report will include a number of ways that you can improve your EPC rating. These will be specific to your property, so it’s worth having a read through them and deciding whether to take action before you sell your home in Tower Hamlets.

If your EPC is particularly low, you may find this puts off potential buyers, so you may want to follow some of the suggestions, for example:

  • Adding more loft insulation: Topping up existing insulation can give you a few extra points.
  • Adding wall insulation: Drafty walls can make a home feel much colder and can lead to energy wastage as you keep turning up the heat.
  • Upgrading your boiler: A newer condensing model could add up to 20 points to your EPC rating, especially if your current boiler is very old.
  • Switching to renewable energy: Solar panels and small wind turbines in rural areas can boost your rating. The solar panels will usually give you the most points.
  • Sealing chimneys: Whilst open fireplaces are a nice feature, if there’s a draft, then this can lower your EPC rating. Consider adding a log burner instead.
  • Keep documentation: EPC assessors only carry out a visual assessment of your insulation, so if you have insulation in inaccessible areas, keep documents when it’s installed to show the assessor.

If you’re moving out soon, you may not want to get too many improvements made, as you won’t personally reap the benefits of them.

However, a low rating can put off potential buyers, as they may worry that the house is poorly maintained in general or will be very expensive to heat. It’s better to make changes that will improve your rating the most, such as installing a new boiler.

Looking to Sell Your Home?

When it’s time to sell your home in Tower Hamlets, an EPC is a legal requirement, but luckily, it’s a quick, easy process to get your grade, and is something the team at City Realtor can advise on.

Although it may seem like a pain when you have a million things to do, it’s easy to find an assessor to provide energy reports, and you may find it useful to have some tailored suggestions on how to improve your home’s energy efficiency and improve your existing EPC.

For further help with your EPC, please contact us and we will be happy to advise and recommend. Call us on 0207 790 7702 or email us at admin@cityrealtor.co.uk.

You may also be interested to read 7 Essential Tips That Can help You Sell Your Property

Frequently Asked Questions About Energy Efficiency Requirements

What is an EPC rating?

An EPC rating, or Energy Performance Certificate rating, assesses the energy efficiency of a property on a scale from A (most efficient) to G (least efficient). It indicates the potential energy costs and environmental impact associated with heating and hot water usage in the home.

Do I need an EPC to sell my home?

Yes, it’s a legal requirement to have an EPC when selling a home in England and Wales. The certificate provides valuable information to potential buyers about the property’s energy efficiency and potential energy bills.

What are the energy efficiency requirements for selling a property?

When selling a property, it must meet a minimum energy efficiency standard (MEES). This standard ensures that homes meet certain energy efficiency levels, contributing to reduced energy costs and environmental impact.

How can I improve my EPC rating?

Improving your energy rating with accredited domestic energy assessors can involve simple measures like installing low-energy light bulbs, adding insulation, upgrading your boiler, or even considering renewable energy sources like solar panels. These improvements not only enhance the property’s energy efficiency but also reduce potential energy bills for future occupants, improving property performance and reducing energy usage.

What Next?

Do you require a valuation or no-obligation advice on buying or selling a home in Tower Hamlets? Please contact our expert property team at City Realtor on 0207 790 7702 or email us at admin@cityrealtor.co.uk, and we will be delighted to help you.

Don’t forget to follow us on our socials for updates and new listings!

Follow us on Facebook, connect with us on X, join us on Instagram, find us on TikTok, see us on LinkedIn, watch our YouTube Videos!

Good luck if you are buying a home, or considering putting your property in Tower Hamlets on the market. We’ve answered your FAQ’s here.

Posted on

Illuminate Your Home: 5 Key Lighting Tips to Boost A Sale

Illuminate Your Home Lighting Tips

When it comes to selling your house, there’s a long list of tasks to juggle – from handling paperwork and packing up your belongings to choosing the right estate agent in Tower Hamlets to assist you. Just when you think you have everything in order, another detail often crops up, adding to your to-do list.

Selling a property demands attention, and after putting in all that effort to prepare your home for potential buyers, the last thing you want is for your hard work to be undermined by an overlooked detail: the lighting in your home.

First impressions are critical when selling a home. As the days get shorter and the vibrant summer light fades, homes that lack adequate lighting can appear less attractive to buyers. Dimly lit spaces can feel smaller, colder, and less welcoming, even if they’re not.

While good lighting is vital for showcasing your home, a full lighting overhaul may not be in your budget or timeframe. Luckily, there are simple ways to enhance your home’s lighting and increase your chances of a quicker sale.

You may also be interested to read how to update your home on a budget.

5 Tips for Better Home Lighting

Here are five effective lighting tips to help your home stand out to potential buyers:

1. Evaluate Room Lighting

Begin by assessing the lighting in each room. Open blinds, draw back curtains, and switch on all lights. Take a walkthrough at different times of the day – morning, afternoon, and evening – so you can see how natural light changes. Don’t forget to check how each room appears on cloudy or rainy days. As you evaluate, put yourself in the shoes of a prospective buyer. Identify well-lit areas and those that might need more light. Taking photos can be useful for highlighting dim spaces or shadows that may not be apparent during a walkthrough.

Tip: Photograph each room at various times of day to pinpoint areas needing improvement.

2. Consider Exterior Lighting

The exterior of your home is just as important as the interior. Good kerb appeal can make a significant impression, especially during evening viewings. Ensure the front porch and pathway are well-lit to create an inviting atmosphere. If you have a garden or patio, illuminate those areas too to showcase their potential.

Tip: Solar-powered lights are an inexpensive and eco-friendly option for lighting pathways and garden areas without the need for wiring.

3. Upgrade Light Fixtures

While buyers may expect some renovations post-purchase, they also appreciate a home that’s move-in ready. Consider upgrading outdated light fixtures that may appear dull or are no longer functional. Switching to LED bulbs can also be a smart choice as they’re more energy-efficient and longer-lasting.

Tip: Even minor upgrades, like changing old lampshades or light switches, can significantly improve a room’s overall look.

4. Brighten Dark Spaces

Sometimes, it’s not just about lighting fixtures but also the colour of your walls and decor that can make a space feel dark. If repainting isn’t feasible, there are other ways to brighten up a room.Using mirrors to reflect light can open up a small room, while adding lighter-coloured decor like cushions or rugs can instantly brighten a space.

Tip: Replace heavy curtains with sheer ones to allow more natural light or use uplighting to bounce light off ceilings, creating a brighter feel.

5. Add Extra Lighting

If dim areas persist, adding additional lighting can solve the problem. Stylish table lamps or desk lamps can enhance the ambience while highlighting key features. Consider under-cabinet lighting, stair tread lights, and track lighting for those shadowy spots.

Tip: Battery-operated LED lights are an effective and efficient way to brighten up areas that lack electrical outlets.

    Lighting Suggestions for Each Room

    • Hallway: Use wall sconces or recessed lighting to illuminate hallways without overwhelming them. Fixtures at eye level create a welcoming glow.
    • Kitchen: Task lighting is essential. Under-cabinet lights enhance countertops and work areas, adding a modern touch.
    • Sitting Room: Layer your lighting for a cosy feel. Combine overhead lights with lamps for a warm atmosphere, and use dimmable options for mood setting.
    • Study: Provide sufficient task lighting to minimize eye strain. An adjustable desk lamp and bright overhead lighting will ensure a well-lit workspace.
    • Bedroom: Aim for a calming atmosphere using a mix of ambient and accent lighting. Soft bedside lamps can create a gentle glow for nighttime reading.
    • Bathroom: Install vanity lights on either side of the mirror for even illumination and consider combining overhead and task lighting for a bright, functional space.

    Ready to Sell? Connect with City Realtor

    If you’re looking to sell your property in Tower Hamlets, our tips can help you create a bright, inviting space for potential buyers.

    For further property-related insights, contact our team at City Realtor at 0207 790 7702 or admin@cityrealtor.co.uk for professional guidance.

    Frequently Asked Questions About Lighting Upgrades

    Why is natural light important?

    Natural light is vital for creating a welcoming atmosphere. Always open blinds and curtains during viewings and consider the sun’s position throughout the day to ensure all rooms feel bright.

    Should I consider updating my light fixtures?

    Yes, outdated fixtures can detract from your home’s appeal. Investing in modern lighting and energy-efficient LED bulbs can make a difference.

    How do I deal with dark corners?

    Utilize floor lamps or mirrors to brighten dark areas, and add light-coloured accents for a touch of vibrancy.

    What other lighting options are available?

    Look into under-cabinet lights for kitchens, task lighting for workspaces, and outdoor lighting to enhance kerb appeal during the evenings.

    What Next?

    Do you require a valuation or no-obligation advice on buying or selling a home in Tower Hamlets? Please contact our expert property team at City Realtor on 0207 790 7702 or email us at admin@cityrealtor.co.uk, and we will be delighted to help you.

    Don’t forget to follow us on our socials for updates and new listings!

    Follow us on Facebook, connect with us on X, join us on Instagram, find us on TikTok, see us on LinkedIn, watch our YouTube Videos!

    Good luck if you are buying a home, or considering putting your property in Tower Hamlets on the market. We’ve answered your FAQ’s here.

    Posted on

    September 2024 Property Market Update

    Property Market Update September 2024

    September has brought a mix of developments in the UK property market, impacting buyers, sellers, landlords, and renters. With mortgage rates beginning to stabilise and significant legislative changes underway, it’s essential for everyone to stay informed.

    In September, UK house prices surged by nearly £3,000, as reported by Rightmove. The average asking price for a home increased by 0.8%, reaching £370,759. This rise is notably higher than the long-term average increase for this time of year, which is typically around 0.4%.

    Factors contributing to this boost include the recent drop in mortgage rates, an increase in available properties, and faster growth in household earnings relative to inflation and house prices.

    Here’s an overview of the key trends shaping the market, along with some practical tips for navigating these changes.

    Buying: A Time for Cautious Optimism

    For prospective buyers, there is some relief as mortgage rates are falling and the market is slowly adjusting. First-time buyers, in particular, might now find more affordable entry points. However, despite this positive trend, there are still some uncertainties ahead. These include potential changes in the Bank of England’s base rate and upcoming announcements in the October Budget.

    Tips for Buyers:

    Shop Around for Mortgages:With more competitive mortgage products becoming available, it’s wise to compare offers and speak with a mortgage broker. Fixed-rate deals can provide peace of mind, especially with economic uncertainties still lingering. 

    Negotiate Carefully: Sellers may be more open to negotiations, given that the market has cooled slightly. This could be the time to negotiate a better price or ask for certain conditions, like repairs, to be included in the sale.

    Check Your Long-Term Affordability: Ensure your monthly mortgage payments will be manageable, even if your circumstances change. While interest rates are decreasing, affordability checks by lenders remain strict, so plan conservatively.

    View our current properties for sale in Tower Hamlets on our website.

    Selling: Setting Realistic Expectations

    The time to sell a property has increased, according to Rightmove, with average homes now taking around 60 days to sell. Buyers are being more deliberate in their choices. This means sellers need to be patient and make sure their properties stand out in a competitive market.

    Tips for Sellers:

    • Focus on Presentation: Staging your home well can significantly improve its appeal. Invest in minor repairs, fresh paint, and professional staging if possible. First impressions count, and well-presented homes tend to sell faster.
    • Price to Market Conditions: Avoid overpricing. Properties that are priced too high can languish, leaving you frustrated.
    • Be Flexible with Viewings: Make your property accessible for viewings by accommodating various schedules. The easier it is to view your home, the faster you’re likely to attract serious buyers.

    For sellers interested in tracking house prices, several sources provide valuable insights:

    • Halifax publishes a monthly house price index based on its mortgage data.
    • The Office for National Statistics (ONS) uses data from the Land Registry to offer the most accurate measure of house prices, though it has a three-month delay.
    • Nationwide and Zoopla also track house prices. Nationwide reported a 0.2% decrease in August but a 2.4% annual increase, with average prices at £265,375. Zoopla’s data showed a 0.5% rise in July, with average prices now at £266,400.

    Each of these sources uses different methods to track prices, so it’s beneficial to consider them all for a comprehensive overview of the market.

    For property in Tower Hamlets, City Realtor is best placed to offer information on house prices, tips and advice. Please do call us on 0207 790 7702 or email admin@cityrealtor.co.uk.

    Landlords: Preparing for New Regulations

    September 2024 is a key period for landlords, with the Renters’ Reform Bill expected to significantly alter the landscape. The abolition of Section 21 no-fault evictions, along with stricter rent regulations, will reshape how landlords manage their properties.

    In addition, landlords need to start preparing for the 2030 requirement for all rental properties to meet a minimum Energy Performance Certificate (EPC) rating of “C.”

    Tips for Landlords:

    • Stay Informed: Make sure you understand the implications of the Renters’ Reform Bill. Joining a landlord association or investing in property management could help you stay on top of legal updates.
    • Plan for Energy Efficiency: Begin upgrading your rental property to meet the future EPC requirements. Energy-efficient properties will not only comply with regulations but could also be more attractive to eco-conscious tenants.
    • Retain Good Tenants: With increasing tenant rights, focusing on tenant retention is more important now than ever. Offering longer tenancies or incentives like minor upgrades can help maintain a stable rental income.
    • Consider Professional Management: With the legislative environment becoming more complex, it may be worth hiring a professional property management company to handle compliance and day-to-day operations.

    For landlords considering property management in Tower Hamlets, call us on 0207 790 7702 or email admin@cityrealtor.co.uk for information on our services.

    Renters: Higher Costs, More Rights

    While renters face rising rents and high demand for properties, the Renters’ Reform Bill brings new protections. The abolition of Section 21 evictions is a major win for renters, offering more stability. However, this could also lead to landlords being more selective.

    Tips for Renters:

    • Know Your Rights: With the introduction of the Renters’ Reform Bill, tenants will have more power. Educate yourself about your rights, including how landlords can and cannot evict you and what standards they must meet.
    • Be Prepared to Act Fast: Competition for rental properties remains fierce. Have your documents and references ready to move quickly when a property becomes available.
    • Consider Flexibility: If you’re struggling to find a rental in a competitive area, consider expanding your search radius or being flexible with your preferred moving date. Being adaptable can open up more options.

    View our latest properties for rent in Tower Hamlets on our website.

    The Renters’ Reform Bill: Major Changes Ahead

    The Renters’ Reform Bill is one of the most significant pieces of legislation affecting the private rental sector in decades. Aimed at giving tenants more protection, the bill is expected to abolish Section 21 no-fault evictions, introduce stricter rent increase controls, and enforce higher standards of accommodation.

    Key Provisions:

    • Ban on No-Fault Evictions: Landlords will no longer be able to evict tenants without providing a reason, making it harder for them to reclaim properties. This brings more stability for renters but could lead to landlords being more cautious in selecting tenants.
    • Limits on Rent Increases: Landlords will be allowed to increase rents only once a year, and any increase must reflect market rates.
    • Stricter Housing Standards: Landlords face penalties of up to £7,000 for properties that fail to meet a minimum standard.

    For more information on the Renters’ Reform Bill, please speak with a member of our lettings team at City Realtor . We ensure we are always up to date with the latest legislation and developments and can assist landlords and tenants efficiently.

    September 2024 sees a mix of cautious optimism and continued challenges in the UK property market. Falling mortgage rates provide some relief for buyers, while sellers need to adjust to longer sale times.

    Landlords, in particular, must navigate an evolving regulatory landscape, with the Renters’ Reform Bill set to bring about major changes. Renters, meanwhile, can look forward to stronger protections, but with higher rents and increased competition.

    What Next?

    City Realtor are your local estate agents in Tower Hamlets. We are delighted to bring you our property market updates each month. If you are thinking of buying, selling or letting a property in Tower Hamlets, please get in touch.

    For no-obligation advice on buying, selling, renting or letting a property in Tower Hamlets please contact our expert property team at City Realtor on 0207 790 7702. Alternatively, get an instant valuation here. We look forward to helping you move home.

    Don’t forget to follow us on our socials for updates and new listings!

    Follow us on Facebook, connect with us on X, join us on Instagram, find us on TikTok, see us on LinkedIn, Watch our YouTube Videos!

    Posted on

    The 10 Most In-Demand Things Home Buyers Want

    The 10 Most In Demand Things Homebuyers Want

    Are you selling a property in Tower Hamlets? You’ll know that it can be a daunting task to attract viewers and get offers on your property because how do you know what buyers want when searching for a new home?

    To help you, our expert team of estate agents in Tower Hamlets have come up with a definitive list of the things home buyers want. So, if you’re looking to sell your home in the near future, read on to discover the ten most in-demand features buyers look for in a new home!

    The 10 Most In-Demand Things Home Buyers Want

    1. Open-Plan Living Spaces
    Gone are the days of compartmentalised living. Today’s home buyers are on the hunt for spacious, open-plan designs that allow for flexibility and flow between rooms. The modern homebuyer’s preferences have evolved from enclosed rooms and defined spaces to open layouts.

    Whether it’s to accommodate a growing family, entertaining guests, or to encourage a more communal style of living, these versatile spaces are adaptable. Large spaces with natural light allow easy supervision of children, improved sociability, and the feeling of spaciousness. If you’re looking for open-plan homes in Tower Hamlets, we can help.

    2. A Home Office
    With remote working now commonplace, a dedicated home office is a necessity. Buyers prefer a dedicated space that’s well-lit and quiet, offering a productive environment away from the hustle and bustle of family life.

    Buyers now consider home office design details including storage options and a door or divider to separate the workspace from the living area, as this promotes better focus and allows for a healthier work-life balance.

    For properties with ideal work-from-home spaces, check out our available listings in Tower Hamlets.

    3. Outdoor Spaces
    You might have noticed a surge in garden renovations and patio makeovers in the past few years. That’s because outdoor space is a premium feature.

    Buyers want space for children to play and explore safely, and they also want to be able to eat and entertain outside, using their gardens as an extension of their interiors. Buyers are also seeking low-maintenance gardens with landscaping and smart use of space. Discover homes with outdoor spaces by viewing our latest listings.

    4. Energy Efficiency
    The increasing costs of utilities have led to a surge in the popularity of energy-efficient homes among buyers. They are now seeking features that not only help save money but also contribute to a greener and more sustainable living.

    Some popular energy-efficient features include double-glazed windows, solar panels, and smart home systems that offer innovative control over energy consumption from a smartphone or other device.

    Additionally, buyers are looking for efficient insulation, energy-saving appliances, and advanced heating systems, which all contribute to a reduced carbon footprint and lower utility expenses.

    5. A Modern Kitchen
    They say the kitchen is the heart of the home. And what buyers want is a kitchen that’s not just functional but also modern and stylish. But beyond that, they’re also seeking top-notch appliances which contribute to the kitchen’s overall look and feel. Innovative storage solutions, like pull-out pantry systems, are also high on buyers’ wish lists.

    For properties with modern kitchens, take a look at the listings we have available.

    6. En-Suite Master Bedroom
    Who wouldn’t want a hotel-like experience right in their bedroom? An en-suite master bedroom offers that extra bit of privacy and luxury that can make all the difference in your daily routine.

    Buyers value a spacious master bedroom with an en-suite bathroom equipped with modern fittings, such as a large shower and a high-spec finish. Additionally, ample cupboard space or a walk-in wardrobe is desirable.

    If you’re interested in homes featuring en-suite master bedrooms, browse through our Tower hamlets properties.

    7. Location, Location, Location
    Whether it’s being in a top-rated school catchment or a stone’s throw away from amenities, location is and will always be important to buyers.

    Proximity to local amenities such as supermarkets, restaurants, parks, and healthcare facilities increases a property’s appeal. Additionally, properties in quiet neighbourhoods, those with stunning views, or situated near public transport links are highly sought after.

    If you’re looking for well-located homes in Tower Hamlets, we’ve got plenty of options.

    8. Ample Storage
    Let’s face it: we all have too much stuff! Ample storage solutions, such as built-in wardrobes and loft spaces, are high on the list for potential buyers.

    In addition, potential homeowners also appreciate other clever storage solutions. These include built-in shelves and pantries that make the best use of available space. A shed or a garage is also appealing.

    9. Pet-Friendly Features
    With pet ownership at an all-time high, features like a mudroom for your four-legged friend and a securely fenced garden are fetching a premium.

    A securely fenced garden provides not only safety but also a free space for pets to run around, play, and get their daily exercise. This gives pet owners peace of mind knowing their furry friends can enjoy the outdoors without wandering off.

    10. Smart Home Tech
    From video doorbells to smart thermostats, technology that simplifies life is a major selling point for today’s home buyers.

    These advancements provide added comfort, convenience, security, and even energy savings – all wrapped into the modern smart home experience.

    Video doorbells, for instance, not only provide convenience with features like contactless deliveries but also enhance home security by allowing homeowners to monitor their front doors remotely via smartphone apps.

    Similarly, smart thermostats let residents control temperature settings based on their daily routines and preferences, optimising comfort while increasing energy efficiency.

    Wrapping It All Up

    When it comes to what are the things home buyers want, these are the top 10 features home buyers in Tower Hamlets are craving! If you’re in the market for a new home, consider this your ultimate checklist. And if you’re considering selling, think about how many of these you can offer!

    What Next?

    Do you require a valuation or no-obligation advice on buying or selling a home in Tower Hamlets? Please contact our expert property team at City Realtor on 0207 790 7702 or email us at admin@cityrealtor.co.uk, and we will be delighted to help you.

    Don’t forget to follow us on our socials for updates and new listings!

    Follow us on Facebook, connect with us on X, join us on Instagram, find us on TikTok, see us on LinkedIn, watch our YouTube Videos!

    Good luck if you are buying your first home, or considering putting your property in Tower Hamlets on the market. We’ve answered your FAQ’s here.