The Property industry has broadly welcomed measures introduced yesterday by Rishi Sunak at the Chancellors Spring Statement, although he steered clear of focusing too much on housing. After the stamp duty holiday introduced during the pandemic which is one of the most positive things for home buyers the Chancellor has initiated, it was unlikely that another such initiative would be introduced.
Amid reports that inflation could average around 7.4% or higher this year, his statement yesterday was primarily designed to help reduce the spiraling cost of living.
There was a reduction in VAT on the installation of energy saving materials in residential properties from 5% to zero for the next five years while £500m was put into the household support fund.
He also reduced fuel duty by 5p but did not abandon plans to increase national insurance by 1.25p
Other measures in the Chancellors announcement included VAT on solar panels, heat pumps, roof insulation and other saving measures being reduced from 5% to zero for five years. This could save £1,000 on a solar panel installation to a typical household
David Phillip said “despite increasing interest rates, growing inflation and rising fuel prices, this has not deterred the housing market, in fact this was clearly shown by Rightmove confirming a new record high in its recent house-price index with Yorkshire and Leeds fairing particularly well overall.
With supply currently tight and mortgage rates low this is a great time of opportunity for people considering selling their home as we move into the Spring market”
So, while there were no major property initiatives announced yesterday, the savings should provide a small amount of breathing space to consumers.
If you are looking to sell your home and live in Bramhope, Adel, Cookridge or Pool-in-Wharfedale and would like a free market appraisal call David Phillip FRICS on 01134 676 400 http://www.davidphillip.co.uk
“The new supply of homes has risen above 2021 levels and is approaching the scale of new listings seen at this time of year before the pandemic hit in 2020 – this signals that the market is starting to move back towards more normal conditions. However, total supply of stock remains tight, which will continue to put upward pressure on pricing” stated Grianne Gilmore, the Head of Research at Zoopla.
Average house prices rose by + 7.8% in the year to January, taking the average house price to £244,100 – Yorkshire saw an increase of +8.5%, above the national average with Leeds at position seven in the UK, with a rise of 8.2% - this is second after Sheffield (8.7%) in Yorkshire.
Average UK house prices rose by 0.9% in the three months to January. Price growth gained momentum during most of 2021 after one of the busiest years the market had ever experienced.
There are signs now that price growth is starting to ease. The market though is highly localised however, with price growth ranging from 16.6% in Powys in Wales to -2.2% in the City of London.
Liverpool leads the City growth at 10.3% with price declines of -0.3% in Aberdeen.
When it comes to the type of properties being listed, there is welcome news for the markets, particularly in Bramhope and Adel with a high concentration of families moving - there has been an annual rise of more than 10% in new listings for larger three and four-bed detached homes.
In fact new supply across all of the most common property types have risen year on year, meaning more listings in the last two months than in the same period in 2021. Family homes are also selling very quickly with 3-bed houses across the UK (excl London) reaching sale agreed in an average of 23 days after being listed.
Zoopla stated that they expect 1.2 million home sales this year, down from 1.5 million in 2021 (the year of the stamp duty initiative!) and that the average house price growth will be between +2% and + 4% at the end of the year.
Rightmove has said that 2021 was the busiest year in its 21 year history, it expects real estate transactions to decline and return to pre-coronovirus pandemic levels this year but was still confident of robust growth.
David Phillip commented “we have had an excellent start to 2022 across all type of properties, we have sold a couple of apartments in Bramhope, but have also listed a property on Hall Drive, Bramhope for £1 million and Riffa House Farm in Leathley for £1.35m – there certainly are many people looking to move to the North Leeds area, and the speed at which we are selling and completing on properties reflects this”
If you are thinking of selling, then Spring is a great time to move – for a free market appraisal call David Phillip FRICS on 01134 676 400, a: 86, Leeds Road, Bramhope, Leeds. W: davidPhillip.co.uk
If you are considering selling your home, then March could be a great time to do so?
The strong level of demand in March traditionally means sellers could be met with the highest number of potential buyers and competition for homes tend to be strongest too according to Rightmove.
Rightmove analysed their home-moving data over the last 5 years (excluding during the pandemic which didn’t follow the traditional trading patterns) and saw that March tends to be the month when more sellers put their homes on the market, and the high level of buyer demand makes it the strongest month to sell a home.
In Spring, people aren’t away for their main holidays or busy with Christmas celebrations, the gardens are coming into bloom, the sun is hopefully out for longer and the weather is milder (ideal for looking at the gardens of the lovely properties we sell).
David Phillip commented “for those considering selling this year, outside the pandemic March has historically been the best time to come to Market when the levels of demand means sellers are likely to be met with multiple potential buyers competing for their home”.
But if you are not quite ready, don’t worry as April is the next best month followed by May.
So, if you are considering selling then call now for a free Market Appraisal with David Phillip FRICS on 01134 676 400. w:http://www. davidphillip.co.uk
More than 4 in 10 home-owners have re-purposed part of their homes during the pandemic according to Zoopla. Amongst the 14% who said they had made changes, more than half say they have entirely re-purposed bedrooms, amongst the Uk’s 24m privately owned homes during the pandemic, this equates to a whopping 8,856,000 bedrooms that have been lost.
Nearly 1.3million home gyms have been created, alongside 900,000 home cinemas or music rooms and 984,000 home bars. As more home tuition was taking place during the pandemic a further 688,800 rooms have been turned into dedicated classrooms.
With hybrid and remote working now set to be mainstay for many people, almost half of those people who have made changes, has been to create a home office, which equates to over 4.5 million across the UK, with 58% saying they plan to keep it going forward – many homeowners it could be argued have been forced to give up living space for the benefit of their employers.
The re-purposing has come at a cost, Zoopla’s research shows that homeowners who adapted their homes spent an average of £3,714, with gyms costing on average £1,568, home cinemas £3,841 and home offices on average £1,735.
For those who have had to re-purpose rooms, more than half say this has meant they have had to compromise on their space at home, leaving some owners less than happy with the remaining space they have.
Amongst those who have, 28% say they now have less space for guests to stay (although during the pandemic this wasn’t an issue!), 21% say they have less or no privacy and 11 % say that their children must share bedrooms.
This feeling of not being completely happy with the home comes predominantly from younger homeowners who are likely to have smaller properties and are more likely to work from home. For many, having to change their home setup during the pandemic has highlighted the need to find somewhere new and better suited to their changed needs. Of homeowners who have spent money on making changes, nearly one third say that has made them consider moving home.
Andrew Marshall, Chief commercial office at Zoopla says: “It’s clear that our homes have changed substantially as a result of the pandemic, with home offices in particular becoming a regular fixture across UK household.”
“Our research also highlights the opportunity for agents to focus on the versatility of their listings when marketing them to potential buyers – and we’ve heard this first-hand from agents out on valuations too. It’s no longer just about marketing a four bedroomed house – a three bed plus home office is proving to have a real attraction amongst buyers in a post lockdown world.
David Phillip commented “we see the fact that people are re-purposing their homes as a promising outlook for the housing market more broadly, with many homeowners now deciding to look for a property with more space. We are positive that this impetus will help release more supply to the market over the coming months”
If you are considering upsizing and selling your re-purposed home in Bramhope, Adel, Pool-in-Wharfedale Otley or Cookridge and would like a free market appraisal with David Phillip FRICS call 01134 676 400
W: davidphillip.co.uk a: 86, Leeds Road, Bramhope, Leeds.
Storm Dudley and Eunice are currently battering the UK, Yorkshire and Leeds haven’t escaped the battering with the wind and rain causing damage and some flooding.
If winds are blowing above 50 mph, then this is when you can unfortunately start seeing damage to your home, with trees toppling, power lines coming down and debris being blown around.
All this relentless weather can leave you with a damaged roof and even cause leaks that can impact your home interior too. Once the storm has passed, it is important to check that your roof is not damaged, document any problems and work with your insurance company.
By following these steps, you can ensure that any damage is noticed quickly-
Windows and doors can also be vulnerable to wind damage and flying debris. Inspect your windows for cracks, holes, broken panes and damaged frames – watch out for broken shards of glass to if your windows have been damaged.
So, if you are unfortunate to have taken the brunt of the storm and need roof repairs, the first thing to do is call your insurance company, they will arrange for a roofer to provide an estimate for the damage and arrange for any temporary repair.
Hopefully we will escape too much damage over the next few hours as storm Eunice is forecast to hit the Leeds area, in the meantime we hope that everyone stays safe and there homes go without damage too.
David Phillip Estate Agents, Leeds Road, Bramhope, Leeds, t: 01134 676 400 w: davidphillip.co.uk
At David Phillip Estate Agents we use the best technology to enhance the Customer Experience for both the vendor and the buyer. 3D virtual tours are a key part of our product offering – Take a walk around our 3D virtual tours, they are immersive, safe and can be viewed from the comfort of your armchair whenever convenient.
So, what is a 3D virtual tour?
3D Virtual tours are the most realistic, immersive, in-depth and safe way to view a property online from anywhere in the world. Providing viewers with a ‘really there’ experience and the opportunity to explore the property before a ‘physical’ second viewing. 3D virtual tours can be viewed on any device and are really easy to navigate
Benefits to the seller
Benefits to the Buyer
What does the 3D virtual tour include
So if you are looking for an agent that is not just about marketing your home through static photos and literature, then David Phillip Estate Agents provides you with a more modern and immersive experience. Take a walk through our stunning property at 4 St Giles Garth, Bramhope- https://homeonfilm.live/v1/b080fe84079f and if you would like a second ‘in person’ viewing call 01134 676 400
If you are looking to sell your property in 2022 then you’ll love what David Phillip Estate Agents has to offer :-
We know you’ll love our end to end Customer Experience - we don’t just list your home but hand hold you right through to completion and beyond - we work with some of the best local companies to support your move. Take a look at our 5 star reviews on the All Agents website – we love what our Customers are saying about us.
We are 100% recommended, 100% sales valuation accuracy and 100% sales fee satisfaction on All Agents – you can’t get better than that!
You’ll love the fact that we work 24/7 – using some of the best technology and modern sales techniques – ask us about 3D Virtual viewings, Property Profile Plus, QR codes and Hi-Viz for sale boards to name just a few.
We will market your property on all the Key portals of Rightmove, Boomin, On the Market and Zoopla to ensure your home reaches the biggest audience too – you’ll love that we have Featured properties and Premium listings on Rightmove.
Our fairer fixed fees will save you money and uncertainty - whilst giving you choice too – everyone loves value for money.
You’ll love our local knowledge and experience – you’ll be dealing with David Phillip FRICS who has been successfully selling houses in North and West Yorkshire for over 30 years.
So on Valentine’s Day, why not call us on 01134 676 400 for a free market appraisal with David Phillip FRICS – we’d love to help you move home in Adel, Bramhope, Pool-in-Wharfedale, Otley and Cookridge.
W:davidphillip.co.uk a: 86, Leeds Road, Bramhope, Leeds e: info@davidphillip.co.uk
Eleventh Housing Minister appointed since 2010
Boris Johnson has appointed Deputy Chief Whip (part of a clear-out of the Whips’ office) Stuart Andrews as the new Housing Minister, making him the 11th person to hold the position in 12 years.
Andrew, who is local to the Leeds area is the MP for Pudsey replaced Christopher Pincher as the prime minister reshuffled his cabinet yesterday. He will now be working with Michael Gove, the secretary of state for the Government’s flagship levelling-up agenda.
On accepting his new role as housing minister, Andrew reportedly told the Prime Minister that he had grown up on a Council estate and been “very struck” with what the Right to Buy Scheme, which allowed council tenants to buy their own home – had achieved.
Pincher was the longest-serving housing Minister for more than a decade, with two years’ service, but some critics dismayed by the regular churn of different ministers, feel he should have been given more time in the role to help fix the housing crisis.
Andrew will now oversee meeting the government’s target to building 300,000 homes a year. A post on Mr. Andrew’s website declares “Save Our greenbelt”, opposing a plan for 70,000 houses in the next 16 years in and around Leeds.
If you would like an update on the Property market in Leeds or would like a free market appraisal call David Phillip FRICS on 01134 676 400
W: davidphillip.coHousing minister.uk a:86, Leeds Road, Bramhope, Leeds, e: info@davidphillip.co.uk
Fingers crossed, life will be returning to some sort of normality as Plan B Covid-19 restrictions are lifted, so now is a great time to make plans for some unmissable events taking place in Leeds in 2022. Here is a list of events we know are taking place in our wonderful city over the next few months
Carmen
One of the finest operas of all time, Opera North’s new modern day take is coming to Leeds Grand in February. The blend of femininity, feistiness, flamenco and George Bizet’s music make this one of opera’s must see performances – Saturday February 12th to February 18th 2022
Rigoletto
In 1855, Verdi wrote that Rigoletto was his best opera, with memorable melodies including the instantly recognisable La donna e mobile. Verdi’s dramatic heart-breaking opera focusing on privilege and power is brought to Leeds Grand Theatre by Opera North in a modern production not to be missed – playing now until February 19th 2022
Northern Ballet – Casanova
I have previously seen this and it is fantastic, taking you right to the heart and mind of one of history’s most notorious individuals who lived every minute of his life in a whirlwind of scandal and decadence. Kenneth Tindall’s wonderful production provides you with a night of, drama, lavish costumes and choreography like no other. – Leeds Grand Theatre March 10th to March 19th 2022
Duo Lipa
Announced in 2019, her ‘Further Nostalgia’ tour was pushed back but she is now planning to return to The First Direct Arena in April. Performing some of her greatest hits she will be in Leeds on Monday April 18th 2022
The Book of Mormon
I saw this in December in Manchester. The show follows the crazy misadventures of a pair of mismatched Mormon Missionaries who take their work to Africa. The music is great and the story although far- fetched is a lot of fun – although somewhat for the open-minded. – Leeds Grand Theatre April 19th to May 7th 2022
Simple Minds at 02 Academy
Rock band Simple Minds belt out some of their well-known anthems at the 02 Academy in Leeds with tickets currently on Sale through Ticketmaster – April 9th 2022
Little Mix
Little Mix were the first girl group to win the X Factor in 2011. The fabulous three-piece band will be bringing their Confetti World tour to Leeds First Direct Arena in April. One of the greatest UK’s girl bands will be performing songs from their chart-topping debut Cannonball along with all their well-known anthems – April 30th 2022
Chicago
With coronation Street’s Faye Brooks as Roxie and the West ends Djalenga Scott (Chicago, West Side Story )as Kelly. One of Broadways sexiest shows returns to Leeds for its 25th anniversary. The performance features one show stopping song after another, including Razzle Dazzle, All that jazz and Cell Block Tango. – Leeds Grand theatre Tuesday 10th May to Saturday 14th of May 2022.
Live at Leeds in the Park
The first ever Live at Leeds festival has been confirmed with a fabulous extravaganza of brilliant Indie Music – Temple Newsam June 4th 2022
Alan Partridge
His new live stage show Stratagem – exploring ‘what is the United Kingdom’. Entertaining like few others can, he is hoping to spread a message of hope at the First Direct arena on May 28th and 29th 2022
Stormzy
Stormzy is back with one of his most highly anticipated UK tours. Promoting his latest album ‘Heavy is the Head’ at the First Direct Arena on March 16th 2022
There are some amazing performances to see in Leeds at the beginning of 2022. Leeds also has some amazing places to live too, so you can easily see the theatre and live events it has to offer. if you are looking to move home at the beginning of 2022 call David Phillip FRICS on 01134 676 400
A: 86, Leeds road, Bramhope, Leeds w: DavidPhillip.co.uk
Property Market update - UK House Price Index – December 2021, published January 2022
Average UK house prices rose by 1% in the three months to December, taking the rate of annual growth to 7.4%, down from 7.7% in September. The value of an average home in the UK is at £242,000 a rise of £17,000 during 2021.
Although Liverpool and Manchester lead the way in price growth in the UK’s largest cities at 10.7% and 8.7%, Leeds continues to perform strongly in 6th place at an increase of 7.8% year on year – Yorkshire and Humberside collectively are seeing growth of 8.5% year on year.
There has been demand for all property types but particularly a drive for family homes. The pandemic ‘search for space’, the stamp duty holiday – where larger savings were available for higher value transactions, and also changing working patterns for office-based workers all contributed to a strong focus on family homes. We have seen this in the wider commuter zones where Bramhope and Adel perform strongly. Rightmove have reported that the jump in average prices this month is driven by homes at the ‘top of the ladder’, which again is good news for North Leeds
The demand for apartments has also risen strongly driven by the re-opening of offices in the big cities.
With activity levels of 1.5 million sales in 2021 (the highest number of transactions in any year since before the financial crisis) this has eroded supply. There is still an imbalance between supply and demand and although new properties coming to the market was quieter in October and part way through November , new supply is coming to the market and we have seen a busy January particularly in Bramhope as the market returns to its usual levels. All the signals are there that suggest the number of committed buyers and sellers is allowing activity to progress, especially where agents are helping to identify properties for would-be sellers to move into.
Rightmove have reported that the number of buyers enquiring about homes is 15% higher than the same time last year, and there are early signs that more property choice is on its way, with the first working week of 2022 being the busiest start of the year ever for people requesting agents to come out and value their homes
While demand continues to outstrip supply there is now more of a balance of the type of home, the largest demand is still family homes.
There are still economic headwinds this year , not least rising inflation which will lead to a rise in the Bank of England base rate and in mortgage rates, however it is worth placing this in a longer run context – mortgage rates are at ultra-low levels so even if at some point they do increase, they will remain relatively low as lenders are competing for business and offering incentives too.
For those who already own a home, around three-quarters of owners have a fixed-rate mortgage deal so they will be protected from any rises for some time.
David Phillip commented “it is clear that the trends which defined the market in 2021 are continuing into 2022, the January market has been very strong, with a varied selection of properties being marketed. However a percentage of buyers enquiring about a property still have their own property to sell, and where they are competing against other buyers who are able to move more quickly may mean that they miss out on the home they want. There is talk of the ‘power buyer’ – by making sure your current home is on the market or preferably sold subject to contract first before starting the search for your new home can give you an added edge”.
So as the property market returns to some sort of normality, if you are considering selling your home in North Leeds, and would like a free market appraisal with David Phillip FRICS call 01134 676 400
David Phillip Estate Agents, 86, Leeds Road, Bramhope, Leeds w: davidphillip.co.uk
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