Selling your home is the biggest emotional and financial investment that you will make, and on paper it may seem like a good idea to sell your home privately if you are looking to move, however, deciding to take on board this huge task without the help of an Estate Agent could be a costly mistake.

While there are no doubt some benefits to this approach, sellers must be aware of the downsides of co-ordinating their own sale and weigh up the pros and cons before making a decision.

The main drawcard for a private sale is the potential for cost savings - namely Estate Agents fees the other benefit is that the seller gets the opportunity to meet the buyer face to face, which sellers don’t often get through an estate Agent – however, as this is a Business transaction becoming ‘pally’ with the buyer can often be a disadvantage further down the line if there are issues as the sale moves towards completion.

A private seller with no prior Estate Agency experience may have limited knowledge of the process of selling a property and the complex legislation that goes with it – whilst they may be able to research what’s involved, they still potentially lack the benefit of past experience and may put themselves at risk of non-compliance with property legislation which can be complicated and costly.

The biggest drawback could be that the seller may not have the skills to appraise the property - a natural reaction is to overprice and therefore deter potential buyers and have a property that sticks on the market with little interest or under-price and therefore receive a lower offer.

The current property market is seeing lots of fluctuations -when the stamp duty holiday was taking place the market was very much a seller’s market, however since the rise and adjustment in mortgage rates it is more of a buyer’s market which does have an impact on the price of the property. At David Phillip Estate Agents we have access to various property pricing portals, we are obsessive about looking at the direction in which price houses are going, hence we are able to advise on a realistic but competitive price- David Phillip FRICS also has over 30 years experience selling properties across North and West Yorkshire which makes a huge difference.

The seller may lack the skills and knowledge to negotiate the sale, this in itself can be an intense and stressful period – Estate Agents do this every day and because they are not so emotionally invested in a property, this is a normal part of their role. A private seller may be too close to the property to see any issues that may turn a buyer away – one person’s taste may definitely not be that of another, and how do you tell the seller that there property really is not in a fit state of repair or decoration. An Estate Agent will be able to provide valuable advice on how to get the property ready for sale and what can be improved to raise the sale price including improving kerb appeal .

So the price has been agreed, the photographs then need staging and taking by a professional photographer, using an i-phone to take photos will have a negative impact on the marketing of the property, and where do you start with organising the 3D virtual tour, the property video, the for sale board, the Floor Plan and the EPC if one is required.

When selling your home it is important to reach the greatest audience possible – motivated people looking to move – we pay over £2,000 a month on Rightmove alone, and because we use Premium listings, your property can appear right at the top of the searches and therefore attract more people looking to buy. Your Agent should also ensure that your home goes onto more than one portal than Rightmove, we use Zoopla, On the Market, Prime Location, Home on Film (for videos) and All Agents as well as having an intuitive website www.davidphillip.co.uk

A private seller may know someone (usually a friend) who has expressed an interest in purchasing, an Estate Agent however will have a relevant and fresh database of people looking to move into the area and into a specific type of property – by selling yourself, you are likely to lose out on this group of motivated contacts who are invariably ready to buy.

Looking from a buyers point of view, it is generally considered more trustworthy to buy through a reputable Estate Agent with 5 star reviews (take a look at ours on All Agents) and if there are two people looking to make an offer on a property then it would definitely make more sense for the vendor to avoid the ‘private sale’ offering.

Finally, it is always best to have an outside, unbiased opinion when selling your home which is something an Estate Agent can provide.

And once the property is sold then, the post- sale element starts – which can be even more stressful, particularly if the chain is a long one.

So if you are looking to sell your home and think you can save money going down the ‘private sale option’, take a look at our Firer fixed fees – not only do they potentially save you money but they give you choice too.

Selling your home is the biggest financial and emotional investment there is, so why not speak to a reputable professional Estate Agent, call David Phillip Estate Agents on 01134 676 400 A: 86, Leeds Road, Bramhope, Leeds. W: davidphillip.co.uk

Covering North Leeds, Bramhope, Adel, Cookridge, Pool-in-Wharfedale

In a bid to generate new business amid what has been a bleak outlook for the property market, most of the largest lenders are expected to cut mortgage rates this week.

Major lenders including Barclays, Lloyds Banking Group, Nationwide and Santander are set to reduce borrowing rates to help stimulate buyer demand analysts expect.

NatWest and HSBC announced that they were cutting their mortgage rates on Monday in a bid to assist those seeking re-mortgage deals and also in a bid to ease some pressure on UK homebuyers – it I expected that more of the large lenders will follow suit.

HSBC said it was cutting rates across many of its new fixed products, including some for first-time buyers, home mover and re-mortgage deals.

Nat West announced reductions of up to 0.35 percentage points on selected fixed deals. A five-year fixed rate deal aimed at homebuyers with a 5% deposit that is currently priced at 6.39% will result in its rate being cut to 6.04% at the bank.

Accord Mortgages, part of Yorkshire Building society, also said that all of its fixed rates were being cut by 0.20 percentage points from Tuesday.

Whilst the Lloyd’s banking Group only repriced last week, it is only a matter of time before their sub-divisions such as Halifax do so again.

The UK’s top lenders have now been cutting mortgage rates for six weeks after they sky-rocketed to record highs in mid-July amid fears the bank of England would raise its own interest rates to levels not seen this century.

David Phillip commented “this is very positive news for the market, lenders are competing to win business and this is driving down rates which can only benefit home owners after months of uncertainty.”

If you are considering selling your home and would like advice on the current state of the property market and also a free market-appraisal call David Phillip on 01134 676 400.

W davidphillip.co.uk info@davidphillip.co.uk 86, Leeds Road Bramhope, Leeds, LS16 9AN e- info@davidphillip.co.uk

Covering Bramhope, Adel, Cookridge, Pool-in-Wharfedale and Otley.

We are into August already and the garden should now be full of beautiful blooms, vibrant colours and fresh greenery, and at last after the terrible weather in July, the outlook looks a bit warmer so keen gardeners will be hoping for the opportunity to make the most of the weather and spend time outdoors.

At this time of the year, it is not only pruning, dead-heading and harvesting that needs to take place, but also it is a time for looking to the seasons ahead and begin preparing their garden ideas for the colder months.

So, what are the key things that you need to undertake to ensure you make the most of the late Autumn flowers and keeping the garden looking its best as we head into September

- Watering is key this month, particularly container-growth plants and border plantings that have not yet established. Keeping on top of this daily, making sure you water in the morning or late afternoon-evening to prevent the water evaporating before it reaches the plants roots

- Wildflower meadows can be mown around now – leave what you have cut for a couple of days to dry and drop any seeds, then rake up and remove. Don’t mulch with grass clippings as low fertility is the key to success.

- Prune wisteria to keep its growth and size under control, pruning will also improve its flowering display

- Try to use grey water wherever you can as water butts may be running low (although not this year). August is traditionally holiday time, so if you are going away, enlist some help from friends and family to look after the garden whilst you are away

- Chrysanths will benefit from being ‘pinched’ or sheared back to encourage more growth as will lavender and keep picking cut flowers to encourage more growth.t Also support flowers like dahlias, gladioli and lilies with supports and flower rings, this definitely needs doing before the Autumn winds set in

- This is a good time of year to start planting – sweet Williams, foxgloves and sweet rocket and other perennials should be planted at this time of year so that they have time to establish themselves to put on a substantial amount of growth before Autumn

- Cut back herbs to encourage new leaves so that you can harvest before the first frost and sow coriander, marjoram and basil in pots outside, to make moving them indoors as easy as possible – also continue to feed tomatoes

- Continue mowing but reduce the frequency and the blades (if we are lucky to get a warm August)

- Keep water features and ponds topped up to look after our wild animals and birds

And finally order your Spring flowering bulbs and the most popular varieties may not be available later in the season.

North Leeds is blessed with beautiful gardens as well as lovely Countryside – property photographs are looking beautiful at this time of year.

If you are considering selling your home in the Autumn and would like a free market appraisal call David Phillip FRICS on 01134 676 400

86, Leeds Road, Bramhope, Leeds, LS16 9AN w:davidphillip.co.uk e:info@davidphillip.co.uk

Covering North Leeds, Bramhope, Adel, Cookridge, Pool-in-wharfedale, Alwoodley and Otley

A number of the country’s biggest lenders look set to continue cutting rates on their fixed mortgages this week providing home- owners with a small glimmer of hope with their mortgages. 

The Bank of England is widely predicted to hike interest rates this week, but there are growing signs that the pressure on policy makers could be easing. 

Consumer Price Index (CPI) inflation stood at 7.9% in June, from 8.7% in May and the lowest rate since March 2022, according to official figures from the Office for National statistics (ONS). 

Consequently, rates may not need to climb as high as feared as the bank looks to bring inflation down to its 2% target. 

It comes as both the US’s Federal Reserve and the European Central Bank (ECB) hiked up their interest rates to a two-decade high last week. 

UK Economists think a quarter-point increase would take interest rates to 5.25% this week, with at least one more rate hike to come in the near term. 

With the end of high interest rates in sight, there is some greater optimism around house prices. 

This week some lenders have started to lower their mortgage rates marginally due to favourable market conditions and subsequently the Nationwide reduced their rates on Friday by up to 0.35% 

If you are considering selling your home and would like a free market appraisal from David Phillip FRICS call now on 01134 676 400. 

A: 86, Leeds Road, Bramhope, Leeds, w: davidphillip.co.uk  

Covering Leeds, North Leeds, Bramhope, Adel, Cookridge, Pool-in-Wharfedale, Otley and Alwoodley.     

How to make your house move more eco-friendly.

This week we have been seeing on the news about record temperatures in Greece, fires in Turkey and last week the UK was baking in a heatwave.

It got me thinking about how we can advise on making a house move more Eco- Friendly.

Reducing your carbon emissions is one of the most important things you can do – you can help tackle climate change as well as actively making a difference to the environment.

If you are moving home then there are ways that you could make your house move as green as possible.

Removals comparison site Buzzmove claims that a typical house move creates an average of 16.8kg of CO2 emissions, which is the equivalent of keeping a lightbulb on for over 50 days, so if you are looking to move, make your house move day as ‘Eco- friendly’ as possible, thinking about the cleaning solutions you use, how much furniture you end up taking to your new home and even to the packaging you use.

Always use a removal company which uses low-emission enhanced, environmentally-friendly vehicles and check that they are using the shortest route to get from A to B.

If your Estate Agent uses 3D virtual viewings, this means that the potential removal company can provide you with a quote possibly without a home visit which will save on fuel and CO2 emissions.

Before you move, you will have hopefully de-cluttered and got rid of anything you don’t need - perhaps you have sold items of furniture on e-bay that you will not suit your next home or given any old clothes, books etc to charity so that you are in a position to  move as lightly as possible.

Use empty drawers removed from their frames, suitcases and friend’s old packing boxes that are probably cluttering up their own homes to ensure you don’t use as many new packing boxes. Some removal companies can offer a discounted rate for pre-used boxes, and always use a company that re-cycles.

If there are items that you won’t be taking with you, then look for the nearest re-cycling centre and if you are disposing of white goods, TV’s etc then the local Council may offer a pick-up service for a fee.

By cutting down on the number of items you need to move, you may also require a smaller removal van – one company claims, the average CO2 footprint of its removal companies adds up to 72 tonnes a year, the equivalent of 342 double decker busses, which is a frightening thought.

Clearing the freezer and the fridge - This is one of the first areas to tackle – start emptying the freezer and cupboards early and get cooking so that you are using up food (and reducing waste) well in advance.

The average house wastes nearly £500 of food every year, some of this food could be taken to food banks or donated to charity.

Wrap up your items carefully – Defra the government agency says that paper and cardboard packaging going to landfill or destroyed rose by 110% between 2013 and 2016 – you don’t want to add to this, so ask your removal company for bio-degradable bubble wrap to protect breakable items. Use sheets and duvets to protect some items of furniture and pictures, and old newspapers, magazines and even clothes to protect things that are smaller but unbreakable.

You will want to leave your property spic and span for the new owners, but try and use green products for the cleaning – natural items such as white wine vinegar, lemon and bicarbonate of soda make excellent alternatives to environmentally toxic products.

Once you have arrived at your new home there are things that you can do to help the environment too - Change your energy supplier, insulate your home, buy local products and consider your transport.

Invest in your own sources of renewable energy and buy from companies that support the switch to a low carbon future.

So, if you are due to move home soon plan well ahead to make sure you are doing your bit to protect the environment whilst reducing your carbon footprint too.

If you are right at the start of your house move process and would like a free market appraisal call David Phillip Estate Agents on 01134 676 400

A: 86, Leeds Road, Bramhope, Leeds.  W: davidphillip.co.uk

#property #bramhope #adel #cookridge #eco #ecofriendly #housemove #carbonfootprint

Market Update – Rightmove and Zoopla House Price Index

Average house prices rose by 1.1% in the three months to May according to the Zoopla House Price index taking the annual rate of growth to 4.7% matching that in February – which was the highest level of growth since the beginning of 2017.

Prices are being supported by elevated levels of demand – despite a recent moderation approaching the end of the initial stamp duty holiday on June 230th

Average house prices in the UK have risen by more than £10,000 over the last year, taking the average price to £229,300. The spread of house price growth across the country continues to widen however, with annual price rises reaching a 10 year high in Yorkshire and Humber and the North East. Leeds has seen an increase of 5.9% year on year, this is the sixth highest performing City behind Liverpool, Manchester, Sheffield, Belfast and Nottingham.

As a result of the price growth over the last year, this means that 1.8milliom properties in England have moved into the higher stamp duty bracket and 940,000 additional homes will be subject to a level of stamp duty at 5% should they be purchased by a homeowner while, an extra 130,000 properties will attract some stamp duty at 10%.

The number of homes in the lower stamp duty bands in England is falling while the price growth means it is rising for the top bands.

The average additional stamp duty payable on homes that have moved up to the 10% stamp duty band will be around £6,100 after the end of the tapered stamp duty holiday in September, while the additional cost for the average homes that has moved into the 5% band will be around £725.

There is more activity amongst first-time buyers who have a wider range of mortgages to choose from, and who will still benefit from stamp duty savings up to £300,000 beyond June or September.

Fastest moving market in 5 years

Time to sell, which measures how quickly homes are sold subject to contract after being listed fell to 22 days in the recent recorded figures in May, this is down from 42 days in 2019. The seasonal nature of the market means it moves more quickly during April/May in most years, but this still marks the fastest moving market in the last 5 years.

This signals that the market continued to move apace, even when the prospect of the larger stamp duty savings for homemovers was off the table, underlining the ‘reassessment of home’ which is fuelling buyer activity , has further to run.

Market outlook

The stamp duty holiday boosted demand in the housing market, yet buyer demand remains elevated despite the initial holiday ending.

Demand may ease further as the re-opening of the economy allows people to do more and travel more widely, but at the same time, the confirmation of working practices for office-based workers will lead to more homebuyers being able to push ahead with a move.

The total stock of homes for sale continues to run below historical norms and this may underpin pricing. At the same time, it may also constrain potential activity, especially for buyers looking for family houses, even so we forecast that this year will be one of the busiest for the housing market with 1.5 million residential transactions.

David Phillip commented “last year’s unexpected mini-boom is rolling into 2021, with new price and market activity again defying many predictions. Leeds is showing some of the highest year on year trends for pricing increases which is positive. Our database is fresh and relevant and we have people actively looking to move to north Leeds particularly in Bramhope.”

If you are thinking of selling your home and would like a free market appraisal please call David Phillip Estate Agents on 01134 676 400

W: davidPhillip.co.uk A:  86, Leeds Road, Bramhope, Leeds

 

#bramhope #otley #poolinwharfedale #adel #property #rightmove #zoopla #home #property #leeds #northleeds

Looking after garden wildlife during this week’s heatwave

A level 3 Heat Health alert has been issued by the Met Office, and the hot weather is due to last for the next few days across the UK. We are given plenty of advice regarding what to do to keep safe and hydrated, but what about the wildlife in your garden.

Here are a few tips on keeping them safe

So if you have a garden these small tips will help hungry and thirsty animals – take a look at our website, we have a number of properties with lovely gardens, or if you are looking to sell your home which has a great garden too, call us for a free market appraisal. T: 01134 676 400 w: davidphillip.co.uk visit at 86, Leeds Road, Bramhope, Leeds

For decades Estate Agents have evolved to fit in with any new marketing opportunities. Previously, only large properties were marketed using aerial footage, usually taken from a helicopter while other properties made do with static photographs taken from the ground. 3D virtual tours and drone technology are recent additions to property marketing enabling Estate Agents to present a property in a much more dynamic way.

Drone (or UAV) photography for Estate Agents enables a potential buyer to see a property from every angle, this is especially useful if someone is looking at the property online but living some miles away.

It is one thing to say that the property has spectacular views, but if you can actually show the beautiful views from a variety of unique perspectives then this is even better – Bramhope particularly benefits from some beautiful vistas .

Drone footage  allows the buyer to see if there are green spaces nearby as well as showing local shops, churches, parks or general places of interest. Parking at the property and the size of the rear garden or outhouses can also be viewed

Drone footage can be used to check out various aspects of the property from a surveyor’s point of view – is the roof in good order, what are the boundaries – things that without the footage you would not even notice or be aware of until exchange or even completion of your sale.

Many Estate Agents continue to use standard photos – however at David Phillip Estate Agents not only do we use 3D virtual tours but Drone footage too – by using this photographic technology, potential buyers are able to have a much better idea of the property prior to a viewing, but it also showcases the home in a much better way.

David Phillip commented “ beautiful photography is key when looking for a home, at David Phillip Estate Agents we us a professional photographer who not only takes static photos but drone footage too, along with immersive 3D tours – we also promote area videos of the local area as we know that people buy an area as well as a home – how a property is displayed online is key.

If you are looking to sell your home and would like a free market appraisal, call David Phillip Estate Agents on 01134 676 400 A: 86, Leeds Road, Bramhope, Leeds

#dronefootage #photographs #rightmove #onthemarket #zoopla  #property #video

So the ‘stamp duty holiday’ in its current form for properties up to £500,000 has now officially ended as of yesterday. Rishis Sunak launched the temporary Stamp Duty Land Tax (SDLT) in July 2020 to boost the housing market following the first national lockdown. The aim was to save buyers from paying stamp duty on any properties valued at up to £500,000, which in some cases has equated to savings of up to £15,000.

UK mortgage approvals surged by 827% year on  year  in May as house prices recorded their highest growth rate since 2014.

A combination of the SDLT tax break with pent up demand and a knockdown-inspired desire for more (particularly outdoor) space means that the property market has been at its busiest for almost a decades.

However it is not now strictly the end of the stamp duty holiday, there is still substantial tapering from July where £2,500 can now be saved on the value of a purchase over £250,000.the nil rate band, then settles back to £125,000 from October 1st 2021.

It is also predicted that the end of the stamp duty is likely to see a leveling off in this frantic demand and a return to normal timescales to complete transactions, although our view is that if transactions can go through quickly during stamp duty then this pace should continue after this deadline is over.

The Chancellor’s initiative last year certainly stimulated the wavering housing market which was exactly the effect intended to further fuel in rising demand, however the demand in some cases outpaced supply which led to above inflation house price increases. – in some cases the increases have eaten into and entirely consumed the tax saving that was intended.

The current stamp duty rates are as follows

£0 - £250,000 = 0%

£250,001 - £925,000 = 5%

£925,001 - £1,500,000 =10%

£1,500,000+ =12%

From 1 October 2021, rates are due to return to normal. That means the point you start paying stamp duty will revert back to £125,001

£0-£125,000 = 0%

£125,001 - £250,000 = 2%

£250,001 - £925,000 = 5%

£925,000 - £1,500,000 = 10%

£1,500,000 =12%

You can use the government Stamp Duty Land Tax (SDLT) calculator to find out how much you would pay from July 1st.

SDLT must be paid within 14 days after the effective date of the transaction. If you pay the tax late, you pay interest from the day you should have paid until the day you pay it.

David Phillip Commented  “the stamp duty holiday certainly generated much interest at a time when the Property market needed a boost, however the end of the holiday can be viewed as positive, signalling a return to post-pandemic normality.

If you are looking to sell your property and would like a free market appraisal or a further discussion regarding the property market please call David Phillip Estate Agents on 01134 676 400 w davidphillip.co.uk  a: 86, Leeds Road, Harrogate, Leeds

 

Buyers’ appetite for properties that are chain free – where the sale doesn’t depend on another purchase has increased this year, research from the home-buying platform YesHomebuyers has found.

They reported that a chain- free sale is thought to reduce conveyancing times from around 12 to four weeks.

A property chain describes a line of buyers and sellers linked together because each is selling and buying a property form one of the others, apart from people at the beginning and the end of the chain.

The chain begins when someone who is only buying, not selling, and ends with a vendor who is only selling, not buying. The links in the chain are the people in between who need to both sell and buy a property.

In addition to the vendor, each property in a chain will also have an estate agents, legal firm, surveyor and potentially a mortgage lender, meaning there could easily be dozens of people  involved in any one chain and this chain will only goes at the pace of the slowest link, which we find very frustrating.

If you are selling and have multiple offers on the table, choose a buyer who isn’t in a chain themselves, first time buyers are great for this.

Between march and June alone, demand across the UK has climbed by 6% - this is borne out in Leeds who also at 6% show the greatest uplift in property demand after Cambridge 10%,
Swansea 9%, Southampton and Liverpool 8%, Bournmouth 7%, Sunderland 7%.

Matthew Cooper, founder and managing Director of Yes Homebuyers said “many homebuyers have now accepted the fact that a stamp duty holiday saving is no longer on the cards, but that they will have to contend with the long market delays that have materialised as a result of the initiative.

In this respect, a chain free purchase will at least provide some hope of reducing the transaction timeline and so it comes as no surprise that their popularity has increased substantially in many Uk cities.

David Phillip said “we recently sold a property on Creskeld Lane in Bramhope, this was launched on the portals on March 17th, we completed in 9 weeks from launch to completion (take a look at the 5 star review from James on All Agents). My recommendation would always be to use a good conveyancer and an Estate Agent that is agile and proactive – at David Phillip Estate Agents we recommend some great conveyancers, have the technology to ensure we progress with the sale as quickly as we can and hand hold all the way – we really can’t abide slowness, and when a long chain is involved then we like to ensure we take control of the chain wherever possible”

So if you are thinking of selling your home and would like to use a proactive Estate Agent based in Bramhope then call  now for a free market appraisal on 01134 676 400

#estateagent #bramhope #cookridge #poolinwharfedale #adel  #selling  #property

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If you are considering selling your home, choosing the right Estate Agent is key.
David Phillip Estate Agents are accomplished, local and Independent, with an award winning, track record for selling homes in North Leeds and Wharfedale.

Office address

86 Leeds Road,
Bramhope, 
Leeds, LS16 9AN

T: 01134 676 400
T: 01943 661 106 (Otley enquiries)
E: info@davidphillip.co.uk
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