Inside the Valuation Process: What Really Happens When You Get Your Home Valued

If you're thinking of selling your home in 2025, one of your first steps should be to get a professional valuation. But what actually happens during a valuation? What do estate agents look for, how do they determine a price, and how can you make sure you’re presenting your home in the best possible light?

In this blog, we break down the valuation process in clear, practical terms so you know exactly what to expect — and how to prepare.

1. Why a Professional Valuation Matters

While online valuations tools offer a rough estimate, a local estate agent provides a far more accurate picture of your home’s value. A good agent will:

Visit your property in person
Assess its features, condition, and presentation
Compare it to recent sales nearby
Consider current market demand
Offer tailored advice to suit your goals

Their aim isn’t just to give you a number — it’s to help you make informed decisions about listing, pricing, and selling.

2. What Happens Before the Visit

Before the valuation appointment, many agents will:

Review recent sales data in your area
Look at your property’s history and past listings
Make note of local demand for your property type

You might be asked about:

Renovations or upgrades
Lease details (if leasehold)
Any planning permissions or extensions

Tip: Be honest and detailed. The more context you provide, the more accurate the valuation will be.

3. What the Valuer Looks For On-Site

When they visit your home, valuers look at:

General Condition

Is the property well maintained?
Are there signs of wear and tear?

Presentation

Is it clean and decluttered?
Are rooms laid out clearly?

Layout and Size

Number and proportion of rooms
Flow and usability of the space

Upgrades and Features

Modern kitchens and bathrooms
Energy efficiency improvements (EPC, insulation, boiler)
Storage space, parking, outdoor areas

External Condition and Kerb Appeal

First impressions matter — overgrown gardens, peeling paint, or damaged fences can reduce perceived value

Valuer Tip: They’re assessing your home through a buyer’s eyes, so staging, lighting, and cleanliness all count.

4. How the Agent Determines Value

Once they’ve seen your home, they combine multiple data points:

Comparable Sales: Recent nearby homes with similar specs
Current Listings: What similar homes are listed for (and how long they’ve been listed)
Buyer Demand: Are homes like yours selling quickly?
Market Trends: Local and national housing shifts

They’ll usually give you a range (e.g. £300,000–£25,000) to reflect variables like market timing, presentation, and buyer appetite.

5. What You Can Do to Boost Your Valuation

You can’t change your postcode, but you can control:

Presentation: Clean, declutter, stage if possible
Condition: Fix minor repairs, freshen paint, mow the lawn
Documentation: Have EPCs, planning permission, and upgrade receipts ready
Communication: Share what’s great about the home and area

Example: If your loft was recently converted, show the valuer the sign-off documents and photos.

6. What Happens After the Valuation

Following the visit, the agent will usually:

Email or call you with their suggested price range
Explain their rationale
Recommend an asking price if you’re selling soon
Offer tips on improving value or presentation if needed

Some may also provide:

A written report or valuation letter
A marketing proposal with timelines and services

7. Common Questions Homeowners Ask

“Should I get more than one valuation?” Yes. It’s wise to get 2–3 opinions to compare advice, pricing, and service.

“What if I disagree with the valuation?” Talk it through. Ask how they reached the figure, and whether there are improvements that could increase value.

“Do I have to use the agent who valued my home?” No. A valuation doesn’t commit you to selling or working with them.

8. Valuation vs Survey: What’s the Difference?

A valuation estimates market price for marketing purposes. A survey assesses the property’s condition for a buyer or lender. They serve different roles but are both valuable at different stages.

Final Thoughts: Be Prepared, Be Informed

A professional valuation is a crucial first step if you’re considering a move. It sets expectations, highlights opportunities, and gives you the insight you need to plan effectively.

Take it seriously, prepare your home, and treat the agent as a partner in your journey. With the right preparation, your valuation could lead to a quicker, more profitable sale. Click here to begin your journey with the right agent for you!

Why Online Valuations Get It Wrong (And What To Do Instead)

In an age of instant information, it’s tempting to think a quick online valuation can tell you all you need to know about your home’s worth. Type in your postcode, answer a few questions, and in seconds you get a figure. Easy, right?

The reality is, while online tools can offer a ballpark estimate, they rarely reflect the true market value of your home. If you're thinking of selling, refinancing, or simply planning ahead, relying on a generic algorithm could mean setting the wrong expectations — and making the wrong decisions.

This blog breaks down why online valuations often fall short, and what smarter steps you can take instead.

The Appeal of Online Estimates:

It’s easy to see why online valuations are popular:

They’re fast, free, and accessible 24/7
They require no appointments or site visits
They give you a rough idea of market value

But that’s all they provide: a rough idea. And in many cases, that number can be way off the mark.

Why Online Valuations Miss the Mark:

1. They Rely on Outdated Data

Most valuation algorithms pull from Land Registry data — which is often several months old. In a fast-moving market, that's like trying to price a house today using last year’s sales.

2. They Ignore Condition and Upgrades

Has your home recently had a new kitchen? Loft conversion? Full redecoration? Online tools don’t know that.

They can’t:

See that your bathroom was just renovated
Recognise you’ve landscaped the garden
Account for a worn-out roof or tired décor

3. They Average Across Broad Areas

Even within the same postcode, property values vary street by street. A semi-detached home on a quiet cul-de-sac will command a different price from a similar home on a busy main road.

Yet online estimates often average prices across wide geographic areas, glossing over these nuances.

4. They Don’t Understand Buyer Behaviour

In 2025, buyers have very specific priorities: energy efficiency, fast broadband, flexible space for home working. A home that meets these needs can fetch a premium — something an algorithm won’t pick up on.

5. They Can Create False Confidence (or Panic)

A figure that’s too high might lead a seller to overprice their home and suffer long delays. A figure that’s too low might cause you to undervalue your investment.

Real-World Example:

Imagine two homes in the same postcode:

Home A has a modern kitchen, bi-fold doors, landscaped garden, and smart heating.
Home B has an outdated kitchen, poor insulation, and signs of damp.

To an online tool, they’re nearly identical. But to buyers? There could be a £20,000+ difference in value.

What You Should Do Instead:

1. Get a Professional Local Valuation

An experienced local agent can:

Assess your home’s presentation and condition
Factor in buyer demand on your street
Analyse recent comparable sales
Advise on realistic pricing strategies

This isn’t about inflating expectations — it’s about setting the right one.

2. Track the Market Regularly

If you’re planning to sell in the next year, monitor local listings and sales:

Which homes are selling fast?
Which linger?
What features do the high-performing properties have in common?

This builds your understanding of what drives value in your area.

3. Keep a Record of Upgrades

Maintain a file with:

Receipts for improvements
Dates of renovations
EPC certificates and utility costs

These can help demonstrate added value during a professional appraisal.

4. Be Wary of Automated Letters and Texts

Some companies send out automated alerts claiming your home has increased in value. While they may spark curiosity, they often use broad-brush estimates to generate leads.

Always verify with a local expert.

When Online Valuations Can Be Useful:

To be fair, there are times when online tools offer some value:

As a starting point if you’ve never checked your home’s worth
When comparing broad market trends
To get a general idea before speaking to a professional

Just don’t make big decisions based on that number alone.

How to Interpret Valuation Ranges:

Even professional valuations usually come with a range (£300,000 - £25,000, for example). Why? Because actual sale price depends on factors like:

Buyer interest and urgency
Time of year
Competing listings
Negotiation skill

A good agent will explain the range and the steps you can take to achieve the upper end.

Final Thoughts: Don’t Let a Robot Decide Your Next Move:

Technology has its place in the property world, but valuing your home deserves more than an algorithm. If you want a clear picture of what your property is really worth — in your street, in today’s market — nothing beats local knowledge and professional insight.

So yes, use online tools to spark curiosity. But when it’s time to make decisions? Step away from the screen and talk to someone who knows what your home is really worth.

Do you need assistance when it comes to make a decision that could make or break your sale? Click here to explore our consultation options and connect with one of our property experts today to ensure that you get the right support!

Annual Health Checks For Your Property Portfolio: The Landlord's Secret Weapon

Owning a rental property isn’t just about collecting rent. It’s about managing a valuable business asset. Yet many landlords overlook one of the most effective ways to protect and grow their investment: regular portfolio health checks.

Think of it like an annual MOT for your property. Just as you wouldn’t drive your car for years without servicing it, you shouldn’t let your rental run on autopilot. Proactive reviews help you spot small issues before they become big problems — and can significantly boost your bottom line.

This blog will walk you through what a comprehensive property health check should include, why it matters, and how to build it into your annual routine.

Why Annual Reviews Matter

Many landlords only respond to problems when tenants report them. But reactive maintenance can be costly and stressful. Regular reviews allow you to:

Prevent expensive repairs
Maintain legal compliance
Optimise rental income
Plan for upgrades and tax efficiency
Keep tenants happy (and reduce turnover)

Even if you only own one property, treating it like a business asset will help you make better decisions.

What Should a Property Health Check Include?

Let’s break it down into five essential categories:

1. Energy and Efficiency Review

Check your EPC status. Has it been updated since your last improvements?
Identify opportunities to boost efficiency: LED bulbs, smart thermostats, insulation, low-flow taps.
Consider planning upgrades now for the 2028 EPC minimum rating of C.

Why it matters: Tenants are seeking energy-efficient homes. Plus, better EPC ratings can justify higher rents and reduce voids.

2. Legal and Safety Compliance

Gas Safety Certificate (required annually)
Electrical Installation Condition Report (every 5 years)
Smoke and carbon monoxide alarms
Fire safety and escape routes
Deposit protection and prescribed information

Top tip: Keep a digital folder with all current certificates, expiry dates, and renewal reminders.

3. Maintenance and Structural Condition

Inspect roofs, gutters, windows, and walls for wear or leaks
Check for signs of damp, mold, or pests
Test heating, water pressure, and ventilation systems
Review bathrooms and kitchens for wear and tear

Proactive landlords: Fix small issues immediately. A loose tile today could be a damp problem tomorrow.

4. Market Rent Assessment

Compare your rent with similar properties in the area
Factor in local market trends and demand
Consider upgrades that could increase your rent

Warning sign: If your property lets quickly with multiple applicants, your rent may be too low.

5. Financial Review

Review your mortgage deal. Are you on a competitive rate?
Check insurance policies: Are they up to date and fit for purpose?
Review property-related tax efficiency with an accountant

Added bonus: Annual reviews help you prepare for refinancing, selling, or expanding your portfolio.

Don’t Forget the Tenant Experience

A quick check-in with your tenants can reveal issues before they escalate. Ask:

Are there any problems you haven’t reported?
Is there anything that could improve your living experience?
Are you planning to renew your tenancy?

Happy tenants stay longer, treat the property better, and reduce void costs.

When Should You Conduct a Review?

Ideally, schedule a full health check once a year, and combine it with your property’s annual safety inspections. Some landlords tie it to a calendar event — tax year-end, tenancy renewal, or summer maintenance window.

Bonus tip: Keep a checklist for each property and update it during every review. Over time, this creates a valuable record of maintenance history and compliance.

Tools That Make It Easier

Property management software: Track certificates, reminders, and notes.
Cloud storage: Create digital files for each property.
Spreadsheets: Use templates to log inspections, rent reviews, and financials.
Letting agents: Some offer annual landlord health checks as a service — worth exploring if time is tight.

Common Oversights to Avoid

Letting certificates lapse
Failing to document repairs
Forgetting to review insurance annually
Neglecting tenant communication
Overlooking small maintenance issues

A structured health check avoids these pitfalls and gives you peace of mind.

Final Thoughts: Turn Maintenance Into Momentum

Annual health checks might not be glamorous, but they are powerful. They prevent loss, increase value, and ensure your property remains a strong performer in your portfolio.

In a changing regulatory landscape and competitive market, landlords who stay proactive are the ones who thrive.

Start today... Schedule your review... Protect your investment... And run your property like the business it truly is.

If you need support, Click here to explore our consultation options and connect with one of our property experts today to ensure that you get the right support!

The Smart Homeowner's Guide to Timing the Property Market

When it comes to selling your home, timing isn't just a detail... It can be a deal-maker!

Choosing the right moment to list your property can significantly affect how quickly it sells and how much you achieve. Yet too often, homeowners either wait too long or jump the gun based on fear or market hype.

In this Smart Homeowners Guide, we’ll explore how to time your sale strategically in 2025, with a focus on market cycles, economic signals, buyer behaviour, and seasonal trends — all explained in plain English.

1. Why Timing Matters in Property Sales

Buyers’ behaviour fluctuates throughout the year. So do mortgage rates, market confidence, and even local competition. Choosing the right window can:

Increase your sale price
Reduce your time on the market
Help you move on with less stress

The same house might sell for thousands more simply because it was listed at the right time.

2. Understanding the Property Market Cycle

Just like fashion or the economy, the housing market moves in cycles:

Boom: Prices rise rapidly due to high demand.
Slowdown: Demand cools, prices stabilise.
Correction: Prices may dip as supply outpaces demand.
Recovery: Buyers return, confidence rebuilds.

These cycles are influenced by interest rates, government policy, lending criteria, and wider economic conditions.

2025 Insight:

As we continue to adjust to post-pandemic economics and evolving housing policies, micro-market cycles are becoming more important than national trends. What's happening in your town — even your street — matters most.

3. Seasonal Trends Still Matter

Despite the rise of 24/7 online listings, seasonality continues to play a key role:

Spring (March–June): Traditionally the strongest season. Gardens look good, daylight lasts longer, and buyers are motivated.
Summer Holidays (July–August): A slowdown occurs as families go on holiday. Less buyer activity.
Autumn (September–November): A second strong window. Many buyers aim to move before Christmas.
Winter (December–February): The quietest period, but serious buyers remain. Can work well in low-competition areas.

Timing Tip:

If your property is family-oriented, avoid listing in school holidays. If it's ideal for downsizers or first-time buyers, timing is more flexible.

4. Economic Factors to Watch

Even local markets are affected by wider financial shifts:

Interest Rates: Higher rates reduce buyer affordability.
Inflation: Impacts both mortgage decisions and consumer confidence.
Employment Trends: Strong job markets lead to more confident buyers.
Government Schemes: Incentives for first-time buyers or green upgrades can boost activity in certain sectors.

What to Do:

Monitor economic updates
Speak to mortgage brokers and agents for real-time insight
Be cautious of sensationalist headlines — focus on local, not national, data

5. Local Competition Makes a Difference

A key part of timing your sale is knowing your competition:

Are similar homes being listed?
Are they selling quickly?
Are price reductions common?

Smart Strategy:

If there’s a lull in your area and your property is in great condition, listing now might help you stand out. If the market is flooded, consider waiting or improving your home’s appeal to stand out.

6. Life Events Should Guide Your Timing Too

Beyond the market, your personal goals matter:

Is your next property ready?
Are you relocating for work or family?
Is the timing right financially and emotionally?

There’s no perfect time universally — only what’s right for you.

Practical Tip:

Even if you’re not quite ready, start planning early. That way, when the ideal market conditions arise, you’re ready to move.

7. Get a Valuation Sooner Than You Think

Many people wait until the last minute to get a professional opinion. But early insight helps you:

Understand your current position
Plan improvements or repairs
Build a timeline that aligns with market strengths

8. Common Timing Mistakes to Avoid

Chasing the market: Listing too high and reducing later sends the wrong signal.
Waiting for the peak: By the time a boom is obvious, it’s often too late.
Ignoring presentation: Timing is nothing if your property isn’t market-ready.

Final Thoughts: Be Proactive, Not Reactive

Timing the property market doesn’t require a crystal ball — just good local knowledge, practical insight, and some advance planning.

Remember:

Spring and autumn are typically your strongest windows
Stay informed about the economy, but prioritise local signals
Your personal timeline is just as important as the market's

When in doubt, speak to someone who understands your area inside and out, Click here to explore our consultation options and connect with one of our property experts today to ensure that you get the right support!

Navigating The Renters' Rights Bill: Practical Steps For Landlords

The Renters' Rights Bill is expected to bring the most significant changes to the private rented sector (PRS) in decades. For landlords, this is a defining moment: adapt early and future-proof your portfolio, or risk falling behind as enforcement tightens and tenant expectations rise.

But there’s no need to panic. While the reforms are wide-reaching, they’re designed to raise standards — not punish professional landlords. In fact, those who prepare now are likely to see longer tenancies, fewer disputes, and more stable returns.

This guide breaks down the key elements of the Bill and provides practical, no-nonsense steps to help you navigate what’s ahead.

What Is the Renters' Rights Bill?

The Bill aims to rebalance the landlord-tenant relationship by prioritising fairness, security, and accountability across the PRS. Here are the main proposed changes:

Abolition of Section 21 ‘No-Fault’ Evictions: Landlords will only be able to regain possession using valid legal grounds under Section 8.
Rolling Tenancies: All fixed-term tenancies will automatically convert to periodic.
Rent Increase Limits: Rent can be increased only once per year and must reflect market value. Two months’ notice is required.
Mandatory Landlord Registration: A national database will record all private landlords and their compliance status.
New Ombudsman Scheme: Tenants will have access to a single, impartial complaints resolution service.
Ban on Blanket Pet Restrictions: Landlords must consider pet requests fairly and cannot apply a blanket ban.
End to Discrimination Against Tenants on Benefits or with Children.
Lifetime Deposits and No Bidding Wars: Tenants will be able to transfer deposits between properties, and landlords must advertise a fixed rent.

These measures aim to professionalise the sector and ensure safer, more secure homes for tenants — and stronger, more resilient businesses for landlords.

What the End of Section 21 Really Means

Section 21 currently allows landlords to serve notice without providing a reason. Once abolished, landlords will need to use Section 8, which requires valid grounds such as rent arrears, breach of contract, sale of property, or moving in a family member.

Implications:

Documentation will become vital for possession claims.
Tenancy agreements must clearly outline expectations.
Landlords may need to budget for longer eviction timelines due to increased pressure on the courts.

Tip: Familiarise yourself with all Section 8 grounds and seek legal advice to ensure tenancy clauses align.

How to Prepare for Rolling Tenancies

All tenancies will become periodic by default, removing the certainty of fixed terms. While this offers flexibility, it also means landlords must be more responsive.

Risks and Considerations:

End-of-tenancy timing becomes harder to control.
Tenant turnover may be more unpredictable.

Best Practice:

Strengthen tenant relationships to encourage long-term lets.
Use clear communication and documented processes for inspections and notice periods.

Rent Increases: Know the Limits

Landlords will be restricted to one rent increase per year, with two months' notice. Increases must be in line with market conditions and demonstrably fair.

What You Can Do:

Carry out annual market rent reviews and document your findings.
Avoid sudden, large increases — steady rises maintain goodwill and compliance.
Consider independent valuations if justifying a significant increase.

Understanding the Landlord Registration Requirement

All private landlords will be required to register on a national database, providing proof of compliance (e.g. gas safety, EPCs, deposit protection, EICRs).

Why This Matters:

Non-registration may result in financial penalties or bans on letting.
Tenants will be able to access this information.

Action Steps:

Start collating all your certificates and compliance documentation.
If you operate in a council with selective licensing, use those systems as your baseline.

New Ombudsman Scheme: What It Means for You

The Renters' Rights Bill introduces a mandatory ombudsman service to resolve tenant complaints without going to court.

Benefits for Landlords:

Lower legal costs and quicker resolutions.
Encourages accountability and transparency.

What to Do Now:

Maintain records of all tenant communications and repair logs.
Review and formalise your complaints-handling process.

Additional Reforms You Need to Know

Pets: Landlords must not impose blanket bans and must fairly assess requests. Insurance to cover pet damage may be required.

Discrimination: Landlords can no longer refuse tenants based on them having children or receiving benefits.

Lifetime Deposits: Deposits will follow the tenant from property to property — reducing admin and improving tenant mobility.

No Bidding Wars: The advertised rent must be honoured, with no ‘best offers’ accepted above it.

New Safety & Standards: Awaab’s Law and Decent Homes

The Bill extends Awaab’s Law to the PRS — requiring landlords to address health hazards like mould or damp within strict legal timeframes.

The Decent Homes Standard, long used in social housing, will also apply to PRS properties. Landlords will need to ensure:

Homes are free from serious hazards.
Kitchens, bathrooms, and heating systems are modern and functional.
Ventilation and insulation are adequate.

Tip: Conduct a property audit now to assess where your property may fall short — and plan improvements proactively.

Energy Efficiency Reforms on the Horizon

Although not part of the Bill, EPC reforms are in consultation. The government has signalled that PRS homes may be required to meet a higher EPC+ standard (targeting EPC C) between 2026–2028.

Prepare by:

Replacing outdated heating systems.
Adding insulation or ventilation upgrades.
Exploring smart heating controls.

Proactive Steps to Take Now

To stay ahead of the changes and protect your portfolio, here’s your checklist:

Review Tenancy Agreements
Ensure they are flexible and compliant with Section 8 and periodic tenancy rules.
Digitise Record-Keeping
Use property management software to track payments, repairs, and communication.
Train Your Team or Letting Agent
Make sure everyone understands how the reforms affect their day-to-day role.
Join Professional Associations
Stay informed through updates from landlord groups, ARLA, or your local authority.
Create a Compliance Pack
Collate all required certificates and be ready to register when the national portal goes live.
Start Property Improvements Now
Fix known hazards, update old systems, and prepare for the Decent Homes Standard.

Common Misunderstandings

“I won’t be able to evict tenants anymore.”
False. You’ll still be able to evict using Section 8 — but only with valid grounds and proper documentation.

“These changes will destroy landlord profits.”
Not necessarily. Good landlords who offer quality, compliant homes often attract longer-staying tenants and fewer costly disputes.

“I’ll wait until it’s all law before making changes.”
That’s risky. Many reforms will be phased in from late 2025 through 2027 — leaving little time to adapt once deadlines hit.

Final Thoughts: Landlords Who Prepare Will Thrive

The Renters’ Rights Bill is not the end of the PRS — it’s a modernisation. A more transparent, fair, and professional system benefits tenants and landlords alike.

Landlords who adapt early, maintain high standards, and document everything will be in the strongest position to navigate this change — and stand out in an increasingly competitive market.

Think of your property as a professional business. Keep it compliant, tenant-ready, and future-proofed — and it will continue delivering strong returns for years to come.

Do you need to brush up on your compliance? Or maybe you are unsure about the new laws and legislations that could be coming into place? If so, Click here to explore our consultation options and connect with one of our property experts today to ensure that you get the right support!

UK Rental Market Update: Insights into the Current Landscape

Welcome to our Property Market blog, where we provide you with comprehensive insights into the current trends shaping the UK housing market. In this edition, we'll dive into key headlines of the current Rental Market - including supply and demand dynamics, challenges faced by investors, rental growth versus earnings, and regional snapshots. Let's explore the latest findings!

- Annual rental inflation for new lets in the UK remains high at an average of 11%, slightly down from 12.3% in mid-2022.

- Rental growth continues to outpace earnings growth, raising concerns about affordability for renters.

- The demand for rental properties remains significantly higher than the five-year average, while the supply of privately rented homes in Great Britain has seen a minimal 1% increase over five years.

Supply and Demand Imbalance:

- The stock of homes available for rent is 33% below the five-year average, highlighting the significant supply and demand imbalance.

- According to the recent ARLA Propertymark Report, the demand for rental properties recorded by member agents in April 2023 was 24% higher than the previous year, further exacerbating the supply shortage.

- Factors such as rapid growth in overseas students and high net immigration contribute to sustained demand for rental properties. This follows the Government shake-up of Visa rules in 2021 to help attract more skilled workers to the UK.

Challenges for Investors:

- The number of privately rented homes has only increased by 1% since 2016, as new investment is offset by properties leaving the rental sector.

- Tax changes, growing regulations, higher borrowing costs, and tighter lending criteria have prompted landlords to reassess their portfolios and investment strategies.

- Mortgage rates have increased, impacting the equity or deposit levels required for new buy-to-let purchases, along with stricter lending criteria and stress tests.

Rental Growth and Existing Tenancies:

- Existing tenancies have seen rental increases at an average of 4.4%, significantly lower than the market average for new tenancies.

- Landlords are encouraged to review their rents periodically, especially considering challenges such as tax changes and higher mortgage rates, as rent increases can positively impact investments.

Breakdown of the Private Rental Market:

- The core private rented sector, comprising long-term lets, accounts for 66% of the market, offering lower hassle and workload.

- Sub-sectors such as holiday and short lets or HMOs may provide higher yields but come with additional costs, workload, and regulations.

Regional Snapshot:

- In the West Midlands region, average rents have seen a year-on-year increase of just under 10%, with Birmingham ranking among the top five cities for rental growth.

- Manchester, Edinburgh, Glasgow, and Nottingham also demonstrate strong growth in rental prices.

Conclusion:

The UK rental market continues to experience robust demand, outpacing earnings growth and raising concerns about affordability. The supply shortage persists, presenting challenges for both tenants and landlords. Investors face changing dynamics, including higher mortgage rates and stricter lending criteria. Regular rent reviews are encouraged to ensure investments remain financially viable.

Thank you for reading our Rental Market Update blog. If you are a landlord or property investor and would like some advice or to share your views, please contact me anytime...

Ali Durrant MARLA

Director of Concentric Sales & Lettings

ali@concentricproperty.co.uk

UK Sales Market Update

Welcome to our Property Market blog, where we provide you with insightful information on the latest trends in the housing market. In this edition, we'll focus on the sales market, highlighting key statistics and offering valuable insights for both buyers and sellers.

1. Transaction Stats:

In January 2023, there was a 10% reduction in property sales recorded year on year, while new home purchases saw a 9% rise in completions. Mortgage approvals experienced a significant 46% reduction, with gross lending down approximately 7%. The decrease in mortgage approvals from the second half of the previous year largely explains the significant difference in lending statistics.

2. Buyer Demand:

According to the latest ARLA Housing Insight Report, there was a 30% fall in the number of prospective buyers registered across member branches in April 2023 compared to April 2022. Additionally, member branches reported a 70% increase in properties available for sale year-on-year. These figures indicate a drop in buyer demand, likely influenced by higher mortgage rates and economic challenges affecting affordability.

3. Market Activity and Pricing:

Rightmove reported that agreed sales numbers are currently just 3% behind the pre-pandemic market of 2019. The average price of properties coming to the market experienced a 1.8% month-on-month increase in May, reflecting robust activity levels and confidence. Sales agreed in May showed positive growth, and the level of negotiation from the asking price to the sale agreed price remained steady at around 3%.

4. Mortgage Rates and Affordability:

Despite an increase in the Bank of England base rate, mortgage rates have remained steady. The average 5-year fixed rate with a 15% deposit is now 4.56%, significantly lower than the 5.89% recorded last October. This decrease in mortgage rates contributes to maintaining home mover confidence in the market outlook.

5. House Price Growth and Market Activity:

The Zoopla house price index reveals a year-on-year price growth of 1.9%, the lowest in recent times compared to the 9.6% recorded a year ago. Prices have fallen by an average of 1.3% in the last 6 months due to higher mortgage rates and rising living costs. However, buyer confidence has improved, resulting in an increase in sales agreed, primarily driven by falling mortgage rates during the Spring.

Regional Property Price Movements:

The West Midlands region has seen year-on-year price growth of 3.5%, surpassing the national average of 1.9%. Birmingham ranks second among major cities, with a growth rate of 3.8%, just behind Nottingham at 3.9%. These figures indicate a significant difference compared to last April when the year-on-year price increase approached 10%.

The Outlook for the Sales Market:

Market activity in the UK sales market remains comparable to pre-pandemic levels. However, predictions suggest that mortgage rates may increase in the second half of the year, impacting affordability and pricing. It is anticipated that the year-end may see approximately 20% fewer transactions than the previous year. Sensible and realistic pricing is crucial for sellers, while buyers should not be discouraged as long as the numbers align. As the year progresses, increased stock levels may provide negotiation opportunities.

Conclusion:

The UK sales market demonstrates resilience, with activity levels approaching pre-pandemic norms. Understanding market dynamics, considering pricing strategies, and staying updated on mortgage rate changes are vital for both buyers and sellers. Seek professional advice and remain adaptable to navigate the ever-evolving property market successfully.

Thank you for reading

The Must-Known Legislation To Let A Property Compliantly

Landlords, are you aware of the two main pieces of legislation that you need to comply with to remain safe and compliant?

In the ever-changing private rented sector, it can be difficult to keep up with the latest laws and regulations that govern this space. However, failing to meet the government’s requirements can result in serious consequences in the form of; notices, fines and prosecution.

That’s why we at Concentric Sales and Lettings are focused on helping you get the compliance information you need on all aspects of Landlord law. In this blog, we’re going to dive deeper into the two pieces of landlord legislation designed to ensure the safety of your tenants within your private rented properties. These two laws are The Landlord and Tenant Act 1985 and the more recent Homes for Fitness & Habitation Act 2020.

The Landlord and Tenant Act 1985

Section 11 of the Landlord and Tenant Act 1985 details a landlord’s obligation for repairs. Simply put, as a Landlord, you must ensure the safety of your rented properties.

Specifically, you must ensure that the air, space, water, and heating of the property are properly maintained and kept safe. The law also clearly states that you must carry out repairs on your properties as and when they are due.

This brings up the question – when are repairs due?

The legislation states that repairs should be carried out on a “reasonable timescale” based on when you are first notified of the repair requirement. “Reasonable” is somewhat subjective and difficult to define but generally depends on factors such as (a) whether or not the tenant is living in the property and (b) whether or not the severity of the repair warrants an urgent response.

Major repairs (as in water gushing through a ceiling) are required to be acted upon immediately. You, as a Landlord, should take all reasonable steps to carry out any maintenance work or repairs to the best of your ability. Some repairs may take time to be rectified, but as long as you have taken the steps that you can take, the law will consider it reasonable.

Protect Yourself Against Claims

We recommend that you always act as quickly as possible when carrying out repairs for your tenants. This is not just for the comfort of your tenants within your rented property. It is also one of the best ways to protect yourself from potential claims that the tenant may choose to pursue against you.

Under the law, tenants have the right to report any outstanding maintenance issues to the local authority. The council may then decide to carry out a full inspection which can often lead to a much longer list of repairs.

It’s important to remember that you are not the only person given responsibilities under Section 11. Tenants are also obligated to “behave in a tenant-like manner”, meaning that they are required to take care of the normal maintenance activities that keep the property clean and functional. This includes things like changing lightbulbs, keeping the drains clear, cleaning the gutters, and other similar activities. Now that we’ve covered the first piece of legislation for landlords let’s cover the second, more recent law.

Homes for Fitness & Habitation Act 2020

This law does not replace the one we’ve discussed but creates additional rights and responsibilities. Generally, it focuses on areas that are not necessarily covered under the Landlord and Tenant Act 1985. There are two key factors you should be aware of when it comes to this law.

First, this act gives tenants the right, for the first time, to take a Landlord to court for not maintaining their repairing obligations. The government has removed the requirement to first go to the local authorities and has enabled the tenant to go directly to the courts. Landlords must be aware of this change.

Secondly, Landlords are now responsible for hazards and repairs within communal areas throughout the tenancy. You are obligated from the moment the tenancy begins through to the conclusion of the tenancy to ensure that the property is fit for human habitation at all times. The only way to achieve this is through regularly inspecting the property. You must not rely on tenants to report repairs because they do not always do so.

Final Thoughts

Your main focus as a Landlord should be to ensure that your tenants are safe at all times. Failure to comply with these laws can result in; prosecution by the tenant in court, penalties issued by the local authority, fines, and improvement notices that can restrict your right to gain possession of your property.

With over 170 different pieces of legislation regulating the private rented sector, you may be wondering how to be compliant as a Landlord.

Fortunately, we have created several resources to help you stay safe, compliant, and up-to-date. That’s why we run a quarterly webinar hosted by Dawn Benett, where we spend 2 hours diving deep into various pieces of legislation that you need to know about. Click here to register for FREE today!

Should Your Address Be On A Tenancy Agreement?

Landlords, did you know that there are over 170 separate pieces of legislation that directly impact the private rented sector? Here at Concentric, one of our big goals is to help educate you to be able to navigate this maze of rules and regulations so that you can stay safe and compliant.

While you may prefer not to share your residential address with your tenants, did you know that there are laws that govern whether or not you are permitted to withhold your address? The two main rules that apply to your address are Section 47 and Section 48 of the Landlord and Tenant Act (1985). Let’s get into them.

What Section 47 Means To Your Tenancy Agreements

Let’s start with Section 47. Section 47 of the Landlord and Tenant Act of 1985 states that a landlord’s address must be present on all documents that are, in fact, a demand for payment. The document that most commonly falls within the purview of this legislation is your tenancy agreement. This means that you, as a landlord, have a legal obligation to include your residential address on your tenancy agreement. Is your address present on your agreement currently? If not, you could be falling foul of this regulation. What does this mean?

Your tenants are not legally liable or responsible to pay any rent they may owe you until you have shared your residential address. The law is clear. If you’re using an agent, you are not permitted to use your agent’s address. Rather, the address on the agreement must be the landlord’s residential address, wherever that is in the world. The reason this legislation applies to the tenancy agreement is that it is, in the eyes of the law, a demand for payment. Until and when you have provided your residential address, the tenant does not legally have to pay. It makes sense that you, as a landlord, may feel some reservations about having to share your home address with your tenants. However, in the private rented sector, this is a given right that the tenants have been legally granted. Section 47 grants tenants the right to identify the person from whom they are renting.

Moreover, if the tenant makes a formal demand, in writing, to you as the landlord or your agent, each party is obligated to respond to that request within 21 days. As we have already mentioned, failure to supply the information within that timeframe could result in the tenant refusing to pay rent until the information requested has been provided. In that situation, the tenant would be in their full legal rights to withhold payment from you, the landlord.

Why You Need To Know About Section 48

The other significant rule that impacts whether or not a landlord must share their address is Section 48 of the same law. Again, this section focuses entirely on the landlord’s address. However, in this case, the legislation refers to an address being given to a tenant in England or Wales for the sole purpose of serving notice to that tenant. In this case, landlords have more flexibility, as the address can be that of your agent or your place of business, depending only on your preference. If you are a company landlord, then the address to provide tenants, under this section, would be the registered address of the business.

Ultimately, these sections of the Landlord and Tenant Act of 1985 do not carry penalties or fines if you are in violation. However, that does not mean that they are inconsequential. The ultimate penalty could be that your tenant simply chooses not to pay the rent. In that event, the law would not require the tenant to pay until the residential address of the landlord was provided.

Conclusion

To recap, Section 47 places a clear obligation on landlords to provide their residential address to their tenants on their tenancy agreement and on any other documents that are payment requests. Section 48 requires that landlords share their business address (or the address of their agent) when serving notice to tenants, only when the tenants reside within England or Wales.

We hope that you’ve found this information useful. It’s important to always stay informed about legislation so that you can remain in compliance and continue to serve your tenants. If you’re curious about where you can get more information on the latest and most important legislative updates, our very own Dawn Bennett hosts a quarterly webinar where she drills down into a variety of the many pieces of legislation that apply to our industry.

Landlords- Selective Licensing Is Returning to Liverpool April 2022 - Are You Prepared?

Are you a landlord in Liverpool?

If so, are you aware that in April 2022, selective licensing is returning to the borough?

Today, we’re going to talk about what this change in legislation means, and the steps you can take to ensure that you remain compliant. Here at Concentric, our goal is to help landlords succeed by providing practical guidance surrounding each legislation update as well as helpful advice regarding overall best practices for landlords.

What is Selective Licensing?

Selective licensing simply means that the city council has decided that they are going to selectively license a specific area. Thus, selective licensing in Liverpool means that the Liverpool City Council has agreed to selectively license a group of postal codes within the borough. In order to determine if this impacts you, you’ll need to see if you own any properties that fall within the range of postal codes that are covered by this new legislation. If you are a landlord in this area and you have a property from a one-bedroom flat all the way to an HMO, you may need a special license in order to continue letting that property.

What Does This Mean to You as a Landlord?

Now, we’re going to talk about what you need to do when selective licensing comes into place in Liverpool. Practically, this means that any property you rent that falls within the impacted area will need a special license as of April 2022 in order to be compliantly let. So, you’ll have to head to the Liverpool City Council and file applications, when the process is opened, for these licenses. There will be a cost element to this. You’re going to need to pay a fee to the Liverpool City Council in order to make the application for the license. Selective licensing is going to continue within Liverpool for the next 5 years until 2027.

Official guidance around the new law is still evolving, so we don’t yet know what the cost of licensing will actually be when selective licensing is rolled out. However, through experience with past licensing programs, we do know that there are many ways to secure discounts and reduce the licensing fee. This can be done by maintaining a good EPC rating, using accredited agents, and through other strategies. We recommend keeping an eye out for further updates on the Liverpool Government website. This is also the place to be when the application process opens for selective licensing. If you need help, contact us and we can help you with licensing applications.

How Do You Stay Compliant?

As of the time of this writing, the details of what will be specifically required to be compliant with this new legislation are not known, but we do know the general standards that have to be met in order to be compliant. There are a number of ways you can take care of your properties and ensure that you are always remaining compliant with the law. We’ve listed a few of them here:

Have a valid gas certificate
Have a valid electricity certificate
Ensure that your EPC ratings are at ‘E’ or above
Have your smoke alarms and carbon monoxide detectors tested
Ensure that your property is fit for habitation

By following these main steps, you can be confident that your property is already a long way towards full compliance. Previously, when the Liverpool City Council enacted selective licensing, they added some additional requirements. This was in 2015. They required things like changes to the tenancy agreements to incorporate anti-social behavior clauses as well as adequate refuse management at properties. Thus, additional requirements may also be a part of the new selective licensing law.

It’s important to remember that the purpose of selective licensing is to regenerate areas and make the private rented sector the best that it can be. If landlords take good care of their properties and ensure that their tenants use the property responsibly, you’re ahead of the curve.

Licensing in the Private Renting Sector is Serious

Most landlords are probably already aware of the importance of remaining in compliance with all of the relevant laws. The penalties for not doing so can be immense. Failure to comply with selective, additional, or mandatory licensing as a private landlord can result in penalties up to £30,000. If your property falls under the category of selective licensing after April 1st of 2022, and you are not in possession of the correct license, your rights to gain possession of your property could be negatively impacted.

We hope we’ve answered some of your questions about this important new legislation. If you’re a landlord in the Liverpool area and would like some additional information, please contact us and we will be happy to help you in any way we can, also we are running a live webinar on this topic, which you can register for HERE.