On 22nd May, Rishi Sunak announced the General Election ill take place on 4th July, and as campaigns are hotting up as the major parties jostle for voters, one thing that we haven’t heard much about yet is the housing market.
Elections normally lead to increased uncertainty and potentially some stalling in market activity, however there are currently 392,000 homes in the sales pipeline working their way to see buyers already in the process of progressing to sales completion pulling out of their sale which is positive.
Nationwide which tracks house prices at the mortgage approval stage, has found that the broad price growth trends seen in the six months leading up to an election tend to continue in a similar vein over the six months after the polling date. The notable exception was the 2019 election , when prices plummeted in its aftermath as a result of the Covid-19 pandemic (shortly followed by the stamp duty holiday).
In Rightmove’s Spring survey which gathered more than 14,000 responses between 18th and 23rd May found that 95% of prospective buyers said a general election would not change their plans which again is positive news for the housing market.
Tim Bannister of Rightmove said “over the past four years, home-movers have faced numerous challenges, including a global pandemic, a shortage of housing supply and rapidly changing prices. For many, 2024 is finally the year to make their move, and they are determined to proceed with their plans to secure their next home”
Rightmove’s own research into buyer demand in the run up to the 2015 and 2019 elections showed that it remained steady. This was measured by recording the demand from the number of people who sent enquiries to their website.
David Phillip commented that “increased certainty of the political landscape” would help to “support confidence in the market, but I see the property market poised for a robust summer, showing resilience and stability in the face of political changes. Affordability remains the most significant factor in the housing market, currently indicating that the pace and scale of the interest cuts will have more of a substantial impact on the market than the timing or outcome of the general election”
Zoopla commented that they don’t see the election having as big an impact as in previous years, particularly as there is not a huge divide in policy between the two main parties.
We have to hear exactly what housing policies the major political parties would enact should they form the next Government, but some of those involved in the sector have set out the actions they would like to see after 4th July.
- One thing most referenced by the experts is Stability – since 2010 there have been 15 housing ministers (or 16 if you take into account that Lee Rowley has held the role twice!)
- One way that could help to accelerate house-building is to streamline the planning process, which is highly complex and challenging
- Another industry bug bear is the length of time it takes for homes to complete in England and Wales – greater digital integration would ‘speed up’ transactions and reduce fall-through dates
- Will there be a reform of the Stamp Duty - The Chancellor has unveiled an election Family Home Tax Guarantee, where stamp duty will not be raised over the next 5 years -
So if you are considering whether the General Election should change your plans to sell up, the latest advice is to plough on and take advantage of the very buoyant Spring market.The long term fundamentals of supply and demand continue to be a driving force in the property sector and as forecast unexpectedly strong August market is likely to be on the cards, especially if we see interest rates continue to fall.
David Phillip has over 30 years selling properties and especially in times when the country goes to vote – if you are considering selling your home and would like a chat around how the Election may impact (or not) on the property market, call now on 01134 676 400
David Phillip Estate Agents, Bramhope, North Leeds, w:davidphillip.co.uk e;infoatdavidphillip.co.uk
Covering North Leeds, Bramhope, Adel, Cookridge, Pool-in Wharfedale and Otley

If you are selling your home, ask your Estate Agent how many viewings they are achieving on Rightmove? – the higher the number of viewings, the better the chance of a sale.

David Phillip Estate Agents are currently achieving 185.5 average detailed views per property per day in LS16 and LS21 – the average number for this area is 89.5, which means that we are achieving almost 100 extra views per property per day and hold the number one position of all Estate Agents in this area.

How are we achieving this?

We have beautiful photographs of all our properties, taken by a professional photographer (not just images taken from a 3D virtual tour which saves the Estate Agent money but also means the photographs are inferior too) – we use drone footage and area videos to show the property in its’ beautiful surroundings, this is particularly pertinent for homes in North Leeds.

Property videos are immersive and allow customers to take a walk around the property – we think marketing properties is not just about static photos and literature.

3D vitual tours provide people with the opportunity to view a property form the comfort of their sofa 24/7 – this is an excellent marketing tool if people are working during the day or living a long way away from the property.

Site maps show the size of the overall plot – people are buying a garden as well as a home.

All of the above are reasons for potential purchasers to stay on our properties on Rightmove longer than on our competitors which is key for our vendors.

In 2022 we were number one for property views too, which shows our ongoing commitment to marketing our clients properties in the very best way possible.

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

David Philip Estate Agents, 86, Leeds Road, Bramhope, w:davidphillip.co.uk

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

Details taken from Rightmove plus 27/04/23 – average detailed views per property per day in LS 16 6,7,8,9 and LS21 1,2,3

According to Rightmove, the average price of property coming to the market has risen this month by an average of 0.2% (+£890), this is lower than the average at this time of year but is a reflection on new sellers heeding their agents’ advice to price realistically to tempt the Spring buyers.

Despite the economic headwinds, first-time-buyer type properties hit a new record price of £224,963 this month. Because the rental market is facing record rents, buying is still a compelling for those first-time buyers who are able to clear the deposit and mortgage hurdles.

The average first-time-buyer mortgage rate for a 5-year fixed with a 15% deposit mortgage has now fallen to 4.46%, with the lowest rate for this mortgage type currently at 4.19%.

Sales numbers have recovered to be in line with the more normal pre-pandemic market of March 2019, and have also exceeded last September’s level, after which they plunged by 21% following the Mini-Budget aftershocks. The agreed sales volumes are so far defying the expectations of many, which is positive.

In Yorkshire and Humberside the monthly average price increase has risen by 1.2% and 3.9% year on year.

Agents are reporting that many sellers have transitioned out of the frenzied multi-bid market mindset of recent years and understand the new need to tempt Spring buyers with a competitive price. The current unexpectedly stable condition is likely to tempt more sellers to enter the market who had been considering a move in the last few years but have been put of by its frenetic pace. Buyers may have struggled to find a home that suited their needs in the stock-constrained market of recent years and will now find more choice available. However, those who have decided to make a move, should not wait around too long to make an enquiry if they see the right home for sale, as not only is the number of sales agreed now back to pre-pandemic levels, but homes are also on average selling more quickly than there were at this time in 2019.

On the Market expect 500,000 sales completions in the first half of 2023 which means that the market is on track for potentially over 1m sales in 2023 – sales activity is being supported by 65% more homes for sale compared to march 2022 and falling mortgage rates.

While mortgage rates have fallen back towards 4% for new loans, the average homebuyer still has 20% less buying power than a year ago, this however doesn’t mean that that house prices are falling anywhere near this amount it does mean buyers are seeking out better value-for-money.

Zoopla observed the motivations for home moves continue to support activity. They state that there is some upside to the outlook for sales completions over 2023 with factors supporting the desire to move.

Working from home 1-2 days a week is becoming the norm for many office-based workers, a shorter commute is no longer so important so people can look further afield for a home than has been the case in the past.

The spike in retirement caused by the pandemic is also a trigger for home moves. At the same time, cost-of-living pressures will continue to encourage some to down-size from larger homes that are more expensive to run.

The market is going through a soft re-pricing process but arguably, the market is more in balance than at any time for the last three years. The positive news is that buyers and sellers are agreeing sales to support an increase in sales activity. There is no evidence of a major mismatch between buyers and sellers that would suggest house prices and transaction volumes are going to suddenly drop lower.

David Phillip commented “the beginning of the Spring market has been a real turning point in terms of house sales, both buyers and sellers appear to have adapted and accepted the current economic and property market conditions. There are now more attractive fixe rate mortgages available, providing buyers with more confidence, and there has been a noticeable increase in sales activity in the North Leeds area”.

If you are considering selling your home, and Spring is one of the best times to move, call David Phillip FRICS on 01134 676 400.

David Phillip Estate Agents, 86, Leeds Road, Bramhope, Leeds, LS16 9AN w: davidphillip.co.uk e-info@davidphillip.co.uk

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

The latest data shows that there has been a 10% monthly increase in mortgages approved by banks and building societies – this is the first increase since August last year.

43,500 mortgages were approved for residential purchases in February, this is up from January levels of 39,600 according to the office of national Statistics, however the monetary value of mortgages lent out was the lowest since April 2016 at £0.7 billion v £2 billion.

Experts said, this also reflected the effects of the mini-Budget, as the uncertainty had delayed impact on property completions.

Jason Tebb, CEO of On the Market said “February saw another decline in net borrowing of mortgage debt by individuals, although there was a welcome pick-up in approvals for house purchases, an indicator of future borrowing compared with January.

“the uptick in approvals for house purchases for the first time since August 2022 suggest that the uncertainty around the mini-budget fallout, rising interest rates and inflation has calmed to an extent.

“looking forward, consumers may feel less confident in the short term with another rate rise this month and inflation rising slightly, but even in challenging markets, there are those who need to move. With various price indices suggesting a gradual slow down in price growth or gentle decline in values in some areas, would-be buyers may be encouraged if they think prices are becoming more achievable, combined with interest rates finally peaking. There is no reason why sellers who listen to their estate agent and price realistically should not do well in this market”

David Phillip commented “the uplift in mortgage approvals shows that the Spring surge in market activity is underway, and while the volume of mortgages being approved is unlikely to return to the highs of last year, an increase in buyer activity bodes very well for the wider health of the property market. We are seeing an increase in the number of property market appraisals and the area of North Leeds comes into its own in Spring with gardens and the area looking beautiful and perfect for marketing”.

If you are considering moving home and would like a free market appraisal call David Phillip FRICS on 01134 676 400 w: davidphillip.co.uk a: 86, Leeds Road, Bramhope, Leeds LS16 9AN.

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

 

The average price of property coming to the market has risen by 0.8% this month to £365,357 mainly due to a 1.2% jump in the largest home sector (or top of the ladder).

Nationally, new seller asking prices are now £5,800 below October’s peak, with annual price growth continuing to ease and now at +3.0% as the market cautiously moves towards pre-pandemic activity levels despite the recent economic turbulence. The data from Rightmove continues to point to a market on a much more stable footing than many anticipated and is cautiously transitioning towards the activity levels of the more normal market of 2019 which is good news for buyers and sellers.

Tim Bannister of Rightmove commented ‘the beginning of the Spring season sees stability and confidence continuing to return to the market as it recovers from the turbulence at the end of 2022. The pace of the market reached an unsustainable level in the last two years, and was on track to slow to a more normal level, although the speed of this slowdown to more normality was accelerated due to the reaction to September’s mini- budget. While higher mortgage rates and economic headwinds have raised challenges, many home-owner’s who were effectively side-lined in the frenetic bidding wars of the last two years will find that a slower paced market gives them time to plan and secure their next move as we enter the traditionally busy spring-buying season”

Zoopla states that it is possible to take two opposing views on performance in the current market sales market. The glass-half-empty view is to look at trends on a year-on-year basis comparing this year to the red-hot market conditions a year ago. The glass-half-full view compares the current market to the pre-pandemic years (2017-2019) when activity levels were much more similar to the current market.

Average mortgage rates have fallen back from their peak of last year, with average rates for a 15% deposit five-year fixed mortgage now 4.65%, edging down from last month’s 4.75%. and October’s 5.89%, although this is higher than 2.48% in March 2022, the mortgage rates do appear to have reached their new level.

On the market state that 69% of active buyers in the UK were confident that they would purchase a property within the next 3 months and 62% of sellers in the UK were confident that they would sell their property within the next 3 months – again despite the market turbulence, buyer sentiment remains reassuringly steady, it also appears that sellers  are more encouraged by the longer term outlook than the shorter-term.

There are still challenges ahead, particularly in regard to inflation which increased slightly last week but concerns appear to be short term rather than medium to long term. The Prime Minister has pledged decisive action to halve inflation by the end of the year, and while it’s some way off its 2 percent target, it’s moving in the right direction,.

Although On the Market split their data into buyers and sellers,  many sellers are also buyers, so even if they have to sell slightly off the top of the market, assuming they’re moving up the ladder, they’ll also spend relatively less on their next property as the trading gap narrows.  If there was a strong argument for moving then surely that is it.

Despite recent market turbulent Zoopla state that market is still on track for a soft landing with modest price falls of up to 5% (not the 10% that is been bandied about across some media platforms) although hyper-local pockets in desirable areas in North Leeds should in most cases be exempt from excessive price reductions.

Sellers looking to take advantage of traditionally strong buyer interest during the Spring moving season should seek the expertise of a local Estate Who will undertake accurate valuations and achieve a realistic price – for a free market Appraisal call David Phillip FRICS on 01134 676 400

David Phillip Estate Agents, 86, Leeds road, Bramhope, Leeds  w:davidphillip.co.uk   e: info @davidphillip.co.uk

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

With the average date of the first lawn cut in the Uk is around March 19th 2023, although this is generally dependent on the weather and local conditions. Last year, the 20th March  was revealed as the best day to cut garden lawns. This day is officially known as ‘first cut Sunday” – a term coined by Flymo – homeowners look to get their gardens in tip top condition with Easter not far away and Spring being one of the best times to sell your home.

So, this Weekend is a great time to Spring Clean your garden – so what do you need to do?

Focus your initial energy on hardscaping – this is the time to repair damaged walls, level out steppingstones, clean out gutters, fix fences, benches, decks, sheds and raised beds.

Clear the patio and clean the paving – over time, moss, algae and debris will build up on a patio making it look a little unsightly but also this could make it unsafe too.

Use a dedicated patio cleaner or bleach, although specialist cleaners are also available. Rinse the patio before and after cleaning, give the area a vigorous scrub, leave for 5 to 10 minutes, pressure wash to remove stubborn dirt, and then give a final rinse. Remember to use thick gloves and eye protectors.

Cut the lawn. Our garden lawns play an important part in our al fresco summer enjoyment, providing a place to relax and read, host parties and provide a space for the children to play, so it is important to get the first cut right to set up the lawns for summer use – but only when the grass is dry enough to cut.

In the spirit of helping wildlife do you need to mow a whole area or could you just have a patch leading through wildflowers and also before you are about to mow, check for any animals - Hedgehogs can often be found in piles of grass and leaves.

Before cutting, take time to clear any mess around the area including dead sticks, leaves and any rubbish that may have gathered. Check for stones and thick branches as these may damage the mower blade. If required, have your mower serviced before the first cut too, there are many local companies who offer a collection and delivery service for lawnmowers, but book early as these sometimes have a long lead time!

Never cut more than one third on your first cut as this can stress the grass. Don’t try to shear it off in one go, cutting the grass too short too fast is known as ‘scalping’ which can lead to disease and weed infestation – reset the blades on your mower to the highest cutting position to just take off the tops, if your garden is small then you could use shears or a strimmer. Your usual mower should cope once you have got the grass down a bit.

Clear up dead perennial plant stems and tatty ornamental grasses by cutting them back close to the ground – they will soon start to re-shoot and you don’t want this year’s healthy green foliage growing up through last years’ dead bits!

Prune hybrid roses to around knee height, this will make it easier to work on the borders afterwards. New English roses should not be hard pruned – just give them a light tidy-up to improve their shape.

Clear away prunings, dead leaves and rubbish, then weed thoroughly, this is no-ones favourite garden pastime but with the correct mind-set, weeding isn’t such a painful exercise. The best time to weed is just after it has rained, when the soil is moist and loose. Grab the right tool a pair of gloves and a bucket. Tackle the roots and all the vegetation – fully remove the plant before it goes to seed so that it doesn’t have chance to grow back.

Always work from the back of the borders towards the front and as you finish each patch, sprinkle on fertiliser and prick the soil surface to aerate the ground, work in the fertiliser to keep it looking tidy.

Now is also a good time to clean out debris from the pond, water feature or bird bath. Maintaining good hygiene in your garden beds will help to keep pests and diseases at bay.

Though most annual flowers need the soil to warm up a bit before planting, some plants such as pansies, nemesia and osteospermum daisies won’t mind if you plant them in the garden early.

It will soon be time to plant spring pots, and you could order summer flowering bulbs and seeds now from your local garden centre.

So your garden is now looking lovely and all that hard work is likely to pay off.

David Phillip Commented ‘If you are looking to sell your home, then Spring is traditionally one of the busiest times to sell according to Rightmove - gardens are starting to look lovely and photogenic, and the nights are getting lighter for viewings – so after  ‘first cut Sunday’,  why not call us to arrange a free market appraisal, houses in Bramhope and North Leeds have some beautiful gardens.

David Phillip Estate Agents, 01134 676 400 w: davidphillip.co.uk  a: 86, Leeds Road, Bramhope, Leeds.

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

Back for its eighth year, the Great British Spring Clean is the nation’s biggest mass-action environmental campaign.

The Great British Spring clean and Great Big school clean 2023 will take place from March 17th to April 2nd and you can pledge to pick up a bag of litter or more from today.

You can choose to pledge as an individual as a group or as a school.

Last year the army of litter pickers #litterheroes pledged to pick nearly half a million bags of litter.

This year is focusing on the pride our #litterheroes have for their local community.

New research reveals that more than 8.5 million adults in the UK have done litter-picking at least once in the least past six months. That’s a million more people than watched the end of Happy Valley!

Everyone deserves to live in a community that they can be proud of, but sadly half of UK adults (43%) currently agree that they feel proud of their community – I know about the pride we feel in Bramhope, North Leeds.

The good news is that litter-picking is a simple action that anyone can do to make an immediate and visible difference to their area – 85% of those who took part in last year’s Great British Spring Clean reported that taking part made them feel  more pride in their local area. And 74% said it improved their mood too!

So if you want to take action to protect the environment this Spring and show more pride in where you live, join the Great British Spring clean and pledge to pick up a bag - or more – today.

If you require further information about this fantastic initiative please visit keepbritaintidy.org

If you are considering moving home and would like a free market appraisal with David Phillip FRICS call 01134 676 400

W: davidphillip.co.uk 86, Leeds Road, Bramhope, Leeds, LS16 9AN

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

After a long winter it feels like it is time to clean the patio and get ready for Spring. All patios require a simple maintenance to keep it protected and looking its best, so what do you need to do to bring your neglected stone paving back to life?

First, declutter the patio, remove dead winter tubs and hanging baskets, and remove weeds (most weeds can simply be pulled or scraped up out of the paving) do a sweep then simply fill a bucket with one cup of washing up liquid, soap or soda crystals. Pour the warm soapy water across the affected area starting at the corners,  and begin scrubbing to loosen dirt.  Always scrub diagonally as this will be gentler on the jointing compound and less will come out during cleaning. You can also use a power washer but take care as excessive use can damage paving slabs and jointing.

Paving slab sealant can help you to protect your patio against the weather extremities like we have had this week in North Leeds. Sealant is completely invisible and won’t change the colour or appearance of the stone.

Over time, the jointing of your paving can crack and loosen. To ensure the longevity, you should repair any jointing that needs it – brush-in jointing compounds are easy to use and will help with this.

Once the patio is dry reset your furniture and you are ready to use.

While you should only need to clean your patio once a year ( a perk of choosing a patio over decking!), a small amount of maintenance will deliver a consistently clean finish all year round.

If you are considering selling your home, and Spring is one of the best times to sell according to Rightmove, it is well worthwhile taking time to improve this often neglected area of your home – stunning pots and hanging baskets can make all the difference, and investing in some good garden furniture too can turn your patio into a lovely entertainment area as well as adding value to your home.

For a free market appraisal call David Phillip FRICS on 01134 676 400. David Phillip Estate Agents, 86, Leeds Road, Bramhope, Leeds w: davidphillip.co.uk

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

According to Rightmove, Spring is traditionally the time when most people look at properties to buy on the Rightmove portal.

At David Phillip Estate Agents we always provide tips on how to make your property ‘show-home’ ready, however if you don’t want to be spending day after day doing housework, it is possible to do it all in one day! – so here goes – the one day Spring Clean! – and this Weekend might be the ideal time if you are housebound with the snow!

Before you start

The night before your big spring clean gather all your supplies in a bucket, include any cleaning products, rubber gloves, bin liners, baking powder and white wine vinegar plus your most upbeat CD’s to keep you motivated.

Plan your meals for the day, have a healthy breakfast, throw something in the slow cooker or choose a takeaway! – whatever  meal you plan,  you won’t want to be cooking at the end of your mammoth cleaning day – keep some snacks on hand too and put a nice chilled bottle of wine in the fridge to enjoy afterwards!

Start with an empty dishwasher, washer and dryer. Before you start on each individual room collect blankets, throws rugs and pillows and put them in the washing machine

Clean light fixtures and window blinds – spray windows with a glass cleaner and spray and wipe all the mirrors too.

The Bathroom

So you are ready to start on the first room – the bathroom.

Descale taps and chrome fittings, especially if you are in an area that has hard water, not only will limescale make the fittings look awful, but by leaving this you are much more likely to have leaks and need to replace fittings too. If you leave limescale for a long time then it can become really difficult to remove – white wine vinegar is great for descaling – use a toothbrush for any tricky areas.

Next it is the bath – use a microfiber sponge to rub your cleaning products into the bath and shower - leave for about 30 mins before you rinse away

Grouting is there to stop the walls and floors getting wet, use baking soda and hot (not boiling water),dip in a toothbrush and scrub away!

Use natural products rather than chemical ones for the essential cleaning of the toilet – again baking powder and white wine vinegar is a natural thing to use - leave for 15 mins, scrub and flush – also change your toilet brush at this time and pour a few drops of essential oil into the holder – put essential oils in the bathroom bin too so that it stays fresh, but this can also be used as an antiseptic – always ventilate your bathroom well after cleaning.

Hair, beauty products and toothpaste can bung up the bath, shower and sink, again white wine vinegar and soda poured down the plughole can help – leave it for 30 mins before washing away with water.

Descale the shower head – fill a small sandwich bag with white wine vinegar, for best results leave overnight, you can wash a shower curtain on a gentle cycle in the washing machine.

If you have children, wash plastic toys in the dishwasher, but remember to remove any batteries first.

Don’t forget your makeup bag – if you haven’t used a product for a while then throw it out, the only exception is seasonal items – wash makeup brushes with shampoo ( I saw a video last week – these can be washed in a cooking sieve – really easy!).

The kitchen

Next onto the kitchen – oven cleaning is time intensive, but by putting bi-carbonate of soda into a water spray, this will give you your own handy oven cleaning solution (avoid the heating elements) – leave this overnight and wipe clean the next day (ok this bit takes you over the spring clean in one day!) spraying with vinegar to remove any remains – if you don’t fancy getting stuck into the oven then a professional cleaner may help with this one to save you time too.

Get your fridge sparking clean - stains, food matter and water can build up – again a toothbrush and toothpaste are great at removing – the chemicals found in toothpaste will help to remove stains easily. Clean your fridge on the day before you do your main shop

To get rid of any fridge odours, cut a lemon in half placing one half at the top and one on the bottom shelf – this will absorb any odours and leave your fridge smelling fresh – lemon also de-odourises microwaves too – just add to a cup of water and heat slowly.

The Bedroom

Revamp your wardrobe – separate your clothes into seasons, try on your outfits, do they still fit, if the answer is no, then get rid of by donating to charity or selling on e-bay.

For the clothes you want to keep, bag up if they are out if season and store somewhere .

A golden rule for clothes – trash, give-away, store or put away for use

Bedsheets can be cleansed by using bicarbonate of soda (which can also be used for cleaning the mattress – leave for 8 hours, vacuum up any excess powder and your mattress will be as good as new)and wine vinegar as this can help breathe life back into them and help get rid of any lingering odours – make sure you rinse thoroughly afterwards though too, to get rid of the vinegar smell before using.

Deep clean your carpet, you’ll be surprised how much dirt, hair and dust can accumulate – remember to clean your vacuum cleaner beforehand.

Some final tips

Don’t use the same cloth around the house as this will hang onto grime from the previous surface – bathroom germs on kitchen counters is a definite NO

Feather dusters are notorious for spreading dust

Change your vacuum cleaner filter before your big spring clean

Clean a room from the top down

Don’t spray cleaner directly onto furniture as this can cause a build-up leading to greasy furniture and surfaces

Clean the washing machine - skin cellAccording to Rightmove, Spring is traditionally the time when most people look at properties to buy on the Rightmove portal.s and dust mites can linger in the machine drum meaning that washing is being done in dirty water .

Don’t worry if you are selling your home and not fully decluttered

So your home should now be spic and span and  decluttered – if you are looking to sell your home, don’t worry if you haven’t totally decluttered every room as at David Phillip Estate Agents in Bramhope,  North Leeds  we have some clever photographic techniques to do this for you and enhance the look of your property.

 Free market Appraisal

So once you have undertaken your spring clean in one day and are ready for marketing your home, book a free market appraisal with David Phillip FRICS t: 01134 676 400  w: davidphillip.co.uk  e: info@davidphillip.co.uk. A: David Phillip Estate Agents, Leeds Road, Bramhope, Leeds.

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

The housing market is starting to show some signs of improvement after the disastrous mini-budget of September with several indications that 2023 may become much more stable after a turbulent few months.

In a residential survey undertaken by the RICS UK in February, survey participants indicated that market conditions are improving, offering hope for the coming months after a UK wide sluggish start.

The new sales indicator in February improved from a net balance of -36% to -26%, however the average time taken to complete a sale is rising slightly and is  currently approaching 19 weeks.

In an additional question included in the latest survey RICS analysed the difference between ask and sales prices in the current macro climate. In the mainstream market covering prices up to £500k around 60% of respondents agreed that sales were being agreed at below average price, this moved to 70% for properties between £500k and £1million. .

Meanwhile, in a further report  Catherine Mann, a member of the bank of England’s monetary Policy committee has identified indications of a revival in the Uk’s property market. The observation from the member of the BoE’s MPC, which sets the base interest rate, follows Halifax announcing a rise in house prices in February at a time when mortgage rates are decreasing and lenders are offering more competitive rates.

Mann stated in an interview with Bloomberg TV “we see a reduction in mortgage rates from the high point last autumn, we see more competition in terms of products coming from various lenders”

That suggests to me that there is more revival in process as opposed to a continual downward momentum”.

Mann downplayed concerns over the potential impact of a market slump, noting that falls are coming off the back of a significant 28% increase in prices since the start of the pandemic

“there is some price depreciation, but it’s really not much compared to how much prices on average appreciated over the last couple of years” she said “We have to take into account what the starting point was”

According to Halifax, house prices rose by 1.1% last month, the second increase this year and by 2.1% from the previous year.

David Phillip  commented “improving consumer confidence, recent reductions in mortgage rates  and a continuing resilience in the employment market  are helping to stabilise prices following the falls of November and December”

If you are considering selling your home, and we are now approaching Spring which is the best time of year to sell, call David Phillip FRICS for a free market appraisal.

David Phillip Estate Agents, 86, Leeds Road, Bramhope, Leeds LS16 9AN, w: davidphillip.co.uk

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

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