Posts Tagged ‘Estate Agents’

A quick look at the latest RICS UK Residential Market Survey (February 2024)

Posted by Lea Bailey

Every month the Royal Institution of Chartered Surveyors (RICS) releases its UK Residential Market Survey, providing valuable insights into the current state of the housing market nationwide.

This blog post is bought to you by our Chairman & Managing Director, John King, FRICS, who offers valuable insights from his experience here at andrew scott robertson in South West London  He actively contributes his comments to the monthly survey for the London region.

KEY OUTTAKES FROM THE FULL RICS RESIDENTIAL MARKET SURVEY FOLLOWING END OF FEBRUARY RESULTS 2024

Residential Sales Market Insights

House prices are they going up or down?

The number of residential transactions has substantially increased since the start of the year although no signs of any price increases yet. Indications are that values have stabilised particularly noticeable in the outer suburbs of London. There remains cautious optimism. Falling mortgage rates and a realignment of buyer-seller expectations has contributed to increased market activity.

New instructions

Some vendors seeking to sell have been cautious in not exposing their properties to the market too soon. The process from thinking to sell and placing their property onto the market is a time consuming emotional wrench for most would be sellers. It’s a hand holding exercise for most of us agents when dealing with clients yet to make up their minds.

There’s been a noticeable surge in the number of appraisals giving more confidence to vendors in knowing that buyer registrations remain higher than this period last year. As a rule, spring instructions most often lead to more offers.

New buyer enquiries

However, despite this increased activity, there hasn’t been a corresponding rise in property values. New listings and buyer enquiries generate the most viewings during the first 3 weeks of coming to the market. Properties that linger on the market longer do often struggle as ambitious asking prices discourage potential purchasers in putting forward offers. Buyer registrations have increased with a number having increased their budgets, unable to find the right property.

Agreed sales

A significant increase in sales has occurred  since the start of the year driven by more affordable mortgage offers especially in lower price regions ( £500k -£1m) with a natural flow into the middle sectors (£1.5m-£3.5m). This also suggests a growing number of buyers now consider that the cost of  stamp duty has aligned itself to vendors expectations.

Lettings market insights

Tenant demand that had seen a modest rise, over the previous quarter but has now subsided as tenants demand better amenities before paying asking rents. Meanwhile, the decline in the number of new landlords entering the market for the first time is beginning to turn as lower interest rates is attracting more interest from this sector. The stock market remains its main competitor.

For more from the RICS UK Monthly Residential Market survey, you can download and read more 2023/2024 reports here: https://www.rics.org/news-insights/market-surveys/uk-residential-market-survey

Please feel free to reach out to us for personalised advice and assistance in this ever-evolving real estate market. Find the right team for your needs here.

Regards,

John King, FRICS

A quick look at the latest RICS UK Residential Market Survey (January 2024)

Posted by Lea Bailey

Every month the Royal Institution of Chartered Surveyors (RICS) releases its UK Residential Market Survey, providing valuable insights into the current state of the housing market nationwide.

This blog post is bought to you by our Chairman & Managing Director, John King, FRICS, who offers valuable insights from his experience here at andrew scott robertson in Wimbledon Village. He actively contributes his comments to the monthly survey for the London region.

KEY OUTTAKES FROM THE FULL RICS RESIDENTIAL MARKET SURVEY FOLLOWING END OF JANUARY RESULTS 2024

 Residential Sales Market Insights

House prices
House demand has improved this year although, no real sign of any uplift in price growth yet.   London exhibited a more stable trend where reductions in asking prices brought about an increased number of viewings and in some quarters helped improve the selling price. Buyers are out there but agents flying a kite to test market appetite is less appealing resulting in fewer inspections.

There’s a notable resurgence of confidence as sensible pricing will attract buyers enabling sellers to move on. The economic cycle and stubborn inflation rate is partly offset with reduced mortgage rates. Key contributors to this uncertain market is that there are more buyers in the market prepared to wait suggesting that the market will start to gather momentum when the opportunity arise.

New instructions
Activity levels have started off strong surpassing expectations due to price reductions and heightened competition among buyers. New listings and buyer enquiries generate the most viewings, particularly during the first 2 weeks of listing. A rebound occurs when fewer offers are received and that is the time to communicate between parties to help bridge the price gap. Properties that linger on the market longer will struggle.

New buyer enquiries
There is a notable surge in buyer demand, fuelled by favourable mortgage rates.

Agreed Sales
The agreed sales indicator saw an improvement in January, with a net balance reading of +5% compared to the previous month. There is also optimism with expectations of increased sales activity over the next three months. .This positive trend will only slow if  confidence in our commercial markets start to fall away. Vendors be prepared to deal with property enquires before putting your property on to the market as delays in dealing with enquires before contract is prolonging the time it takes to exchange contracts. Along with searches the average time in selling is now beyond 20 weeks.

Lettings Market Insights
Tenant demand increased again in the last three months, however there’s a decline in new landlord instructions as landlords explore sales over rental. An imbalance between supply and demand is still expected to drive rental prices up over the coming months.

For more from the RICS UK Monthly Residential Market survey, you can download and read more 2023/2024 reports here: https://www.rics.org/news-insights/market-surveys/uk-residential-market-survey

Please feel free to reach out to us for personalised advice and assistance in this ever-evolving real estate market. Find the right team for your needs here.

Regards,

John King, FRICS

A quick look at the latest RICS UK Residential Market Survey (November 2023)

Posted by Lea Bailey

Every month the Royal Institution of Chartered Surveyors (RICS) releases its UK Residential Market Survey, shedding light on the current state of the housing market across the UK.

This blog post is brought to you by our Chairman & Managing Director, John King, FRICS, who offers valuable insights from his experience here at andrew scott robertson in Wimbledon Village. He actively contributes hiscomments to the monthly survey for the London region.

KEY OUTTAKES FROM THE FULL RICS RESIDENTIAL MARKET SURVEY FOR NOVEMBER

The latest insights from the November 2023 RICS UK Residential Survey suggest a positively optimistic outlook, supported by a slight easing in mortgage rates.

Sales Market Highlights

New Buyer Enquiries

Positive feedback on new buyer enquiries has been observed across all UK regions, and locally in London, best-in-class properties are still selling well, due to competitive mortgage rates heading below 5%. The net balance for new buyer enquiries in November stood at -14%, this figure is the least negative since April 2022 indicating a potential uplift.

Agreed Sales

The national net balance for agreed sales improved by 12%, signalling an increase in the volume of sales. The average time to finalise a sale has also improved slightly due in part due to an improvement in efficiency.

New Instructions

The flow of new instructions onto the market has remained low in both October and November. Respondents report that the number of market appraisals is still below the levels seen twelve months ago. In London, although experiencing a slowdown in transactions due to a lack of stock, there is a sense of encouragement among both buyers and vendors.

House Prices

The survey’s indicator of house price trends posted a net balance of -43% in November. While still demonstrating a downward trend, this figure represents an improvement from -61%, suggesting a moderation in the pace of house price declines, particularly in several UK regions.

Lettings Market Insights

Tenant Demand

Tenant demand remains positive, although slightly easing compared to previous quarters, this is a seasonal change for this time of year.

Landlord Instructions

Landlord instructions remain on a decline, posting a net balance of -18% in November. Despite this and the modest dip in tenant demand, the lettings market maintains resilient, with projected rental price growth, indicating an ongoing demand-supply dynamic.

For more from the RICS UK Monthly Residential Market survey, you can download and read more 2023 reports here: https://www.rics.org/news-insights/market-surveys/uk-residential-market-survey

Please feel free to reach out to us for personalised advice and assistance in this ever-evolving real estate market.

Regards,

John King, FRICS

Our top tips for navigating Winter safely for tenants and landlords

Posted by Lea Bailey

As the winter chill settles in, it’s crucial for both tenants and landlords to ensure a safe and cosy living environment. Below you’ll find our practical tips to navigate the incoming winter season smoothly.

Our top 5 winter tips for the well-being of your property: 
1) Damp proofing

Combat winter dampness by regularly wiping away condensation, especially around older wooden window frames. Utilise extractor fans in bathrooms and kitchens, or leave a window slightly open after moisture-generating activities.

2) Protect your pipes

Contribute to pipe care by setting the heating to a low temperature, preventing freezing and aligning with potential tenancy agreement requirements.

3) Ice proofing

Keep a bag of salt on standby for freezing nights and consider crafting a snow clearing plan to prevent slippery situations around your property.

4) Safety first

Prioritise safety by choosing LED candles over traditional flames, reducing the risk of accidents.

5) Be prepared

Have emergency numbers on hand for locksmiths, plumbers, and other essential services. Being prepared for unexpected issues during the festive period provides peace of mind.

For our full guide on winter property maintenance, email Nicola to receive our detailed TENANTS MAINTENANCE GUIDE – Winter Edition PDF. Stay warm and secure throughout the festive period with more tips like these, including what to do if your boiler shows an E133 code, and what you can do to further secure your property if you’re going away.

The importance of good property management during the winter months

Property management plays a crucial role in maintaining your property’s well-being during the winter season. As expert Property Managers, we ensure that the homes in our care are always in top condition, by providing expert advice and support to landlords and being a reliable point of contact for tenants for any issues they may face. For more information on our property management services, feel welcome to contact Nicola Dixon directly on +44 (0)20 89714952 or via email on ndixon@as-r.co.uk.

We are proactive in management, we ensure tenants and landlords have everything they need to know. When you choose us, you benefit from our membership in ARLA, the Association of Residential Letting Agents, signifying our commitment to professionalism, ethical practices, and ongoing education.  

Here’s what tenants and landlords gain when we manage your property for you…

Expert guidance

Our ARLA certification assures tenants and landlords of expert guidance in navigating the complexities of the rental market.

Professionalism

We adhere to the highest standards of professionalism, ensuring a positive and transparent experience for both tenants and landlords.

Ethical practices

Our commitment to ethical practices means you can trust us to prioritise your well-being and satisfaction.

Ongoing education

We stay up-to-date with the latest industry trends and regulations, providing tenants and landlords with the most relevant and valuable information.

Thinking of making a move?

If you are looking to Let or Rent a property in Wimbledon, Wimbledon Village, or the surrounding areas, we are here to help. Contact our experienced Lettings team on Tel. +44 (0)208 971 6780 or visit our team page here.

Christmas in the Village 2023 – Sunday 3rd Dec 10am-5pm

Posted by Lea Bailey

We are excited to share the details of the upcoming Christmas in the Village 2023, a magical event organised by the Wimbledon Village Business Association. This festive family fun day, taking place on Sunday, 3rd December from 10 am to 5 pm, promises to be once again a delightful array of activities for all ages.

Christmas in the Village is a heartwarming celebration aimed at bringing the community together while supporting a local charity, Wimbledon Guild. Organised by the Wimbledon Village Business Association, this event features a plethora of activities, ensuring a day filled with joy and festive spirit. And, we can’t wait to see you there!

Key Activities:

Santa’s Grotto (10 am – 4.30 pm): Santa will be welcoming children in his Grotto throughout the day, located at the heart of the Village outside The Dog & Fox (right next door to us!).

Christmas Market (10 am – 3 pm): Explore a festive market along the West section of the High Street, offering a selection of delectable food, drinks, and unique gifts.

Fairground Rides (10 am – 5 pm): Enjoy the thrill of fairground rides, adding an extra layer of excitement to the festivities.

Special Activities for Children:

(to book activities, visit https://www.wimbledon-village.com/events/christmas-2023/)

  • Face Painting (10.30 am – 4.30 pm): We’re thrilled to sponsor and host the face painting festivities at our offices at 24 High Street. No pre-booking required – just show up and join the queue. Our talented artists can’t wait to add a splash of festive joy to your Christmas in the Village experience! We will also have other surprises in store for you – including one of our favourites the ‘guess the number of sweets in the jar’ competition.
  • Storytime (10 am, 10.30 am, 11 am): Hosted by Wimbledon Babysitting at Day True at 19 High Street. Pre-book your child’s spot for a delightful storytelling session.
  • Pony Rides (10 am – 3 pm): Experience the joy of pony rides, you’ll find this exciting experience over in Mason’s Yard, 34 High Street (next to the Village Surgery). No need to pre-book; please note that the ponies will take a short break during Santa’s horseback parade from 1.30 pm to 2 pm.
  • Petting Farm (10.30 am – 2.30 pm): Visit the corner of Rushmere Green, just beyond the Christmas Market, for an unforgettable encounter with cute and cuddly animals from Deen City Farm. No pre-booking required – simply head over and enjoy this delightful experience.
  • Clay-Glo Forest Sensory Workshops (10.30 am, 11.15 am, 12 pm, 2 pm): Sponsored by Peacock & Co and hosted by The Coach House @ The Dog & Fox. Let your child’s creativity shine in this unique sensory workshop. You must pre-book this one!
  • Meet the Wimbledon Fire Brigade (11 am – 1 pm): Say hello to the wonderful and friendly firefighters and explore their engine parked at Haygarth Place, just off the High Street.
  • Ballet Taster Class (11.30 am): Hosted by The Village School of Dance, at Day True. Give your little ones the opportunity to experience a ballet taster class. Pre-book this before you miss out, booking is open now.
  • Balloon Twister Show (2 pm, 2.30 pm, 3 pm, 3.30 pm): Sponsored and hosted by Wimbledon Homes at 38 High Street. Enjoy the magic of a balloon twister show by pre-booking your child’s spot.
  • Monkey Music Taster Session (2 pm, 2.40 pm): Hosted by Merton Monkey Music at Day True. Introduce your child to the joy of music with this taster session. Another that must be booked.
  • DDMix Fitness Dance Class (3.30 pm): Hosted by The Village School of Dance at Day True. Join in the dance fun with a fitness dance class for all ages.Places must be pre-booked.

Grand Finale: Tree Lights Switch-on and Carols (5 pm): Head on down to the Village War Memorial for a heartwarming carol singalong, accompanied by complimentary mince pies and mulled wine.

Stay Informed: For the latest updates on Christmas in the Village 2023, follow the organisers on social media:

Note: Certain activities require pre-booking. To reserve your spot and explore all pre-bookable activities, visit the official Eventbrite page: https://www.eventbrite.co.uk/o/wimbledon-village-business-association-10043984155

Let’s come together and make Christmas in the Village 2023 a day to remember!

A quick look at the latest RICS UK Residential Market Survey (October 2023)

Posted by Lea Bailey

Every month the Royal Institution of Chartered Surveyors (RICS) releases its UK Residential Market Survey, shedding light on the current state of the housing market across the UK.

This blog post is brought to you by our Chairman & Managing Director, John King, FRICS, who offers valuable insights from his experience here at andrew scott robertson in Wimbledon Village. He actively contributes his comments to the monthly survey for the London region.

KEY OUTTAKES FROM THE FULL RICS RESIDENTIAL MARKET SURVEY FOR OCTOBER; 

Residential Sales Market Insights

Buyer Demand
Despite challenging market conditions, there’s an improvement in new buyer inquiries, This indicates a more optimistic outlook compared to previous months.

Agreed Sales
While the net balance for agreed sales in October still reflects a challenging market (-25%) compared to this time last year, there’s a positive shift from figures recorded in August and September. What is evident is the timeline from agreed sales to legal completion, this has moved out from an average of 13 weeks to over 20 weeks.  A cautious outlook for the remainder of 2023 and early 2024 remains on the cards as the cost of living continues to rise.

New Instructions
The flow of new instructions has begun to slow, as new year aspirations by vendors for a better market takes hold. However, with buyer demand still evident new stock coming to the market now will result in a flow of viewings if valued correctly.

House Prices
In October, the headline indicator on house price trends posted a net balance of -63%, when viewed across the country. Locally a much better picture emerges showing an improvement from previous months indicating between -5 to -10% is the achievement rate when set against current asking prices.

Lettings Market Insights

In the lettings market, tenant demand remains positive, although there’s a slight easing in demand compared to previous quarters. Landlord instructions have declined as rental levels have peaked contributing to a further reduction in listings, due to in part of landlords placing their properties on the market for sale instead.

In conclusion the lettings market has become a positive and safe investment over the years and this will remain to be the case for years to come providing interest rates remain no higher than their current level, this is underpinned by the build to rent market having stalled.

For more from the RICS UK Monthly Residential Market survey, you can download and read more 2023 reports here: https://www.rics.org/news-insights/market-surveys/uk-residential-market-survey

Please feel free to reach out to us for personalised advice and assistance in this ever-evolving real estate market. Find the right team for your needs here.

Regards,

John King, FRICS

Why hold an open house event to sell your home?

Posted by Lea Bailey

Showcase your property…

An open house event with viewings by appointment only allows potential buyers to see your home in its best light, creating a lasting impression. With a single, well-prepared day, you can turn your home into a showpiece. Imagine welcoming visitors with fresh flowers on the table and a cosy, crackling fire. This attention to detail ensures that your home is presented at its absolute best, making it more likely to stand out above the rest.

Increase visibility…

Promoting an open house event generates excitement and interest. When potential buyers know there’s a specific date to view your property, it sparks their curiosity and makes them more likely to consider your home. This time-limited opportunity can create a sense of exclusivity, often resulting in multiple offers and the potential to increase the value of your property.

Convenience…

Scheduling multiple viewings in a single day streamlines the process, benefiting both you and potential buyers. By hosting your open house event on the weekend, you accommodate potential buyers who might otherwise struggle to find time during their busy workweek. This added convenience can lead to more visitors and, ultimately, more interested parties. A weekend viewing often allows potential buyers to take their time and experience your home without the rush of their work-related commitments. Additionally, if you’d rather not be present, it affords you the chance to enjoy a day out while we take care of showcasing your property.

Motivate buyers to view…

The limited viewing slots on a specific day can create a sense of urgency. Potential buyers are often motivated to make decisions quickly, knowing that others will also be viewing the property on the same day. This urgency can lead to more immediate and competitive offers. When buyers sense that they might lose the opportunity to purchase your home, they are more likely to act decisively.

Personal Interaction…

An open house event gives you the opportunity to be present where you can engage directly with potential buyers, answering questions and highlighting your home’s unique features. Your first-hand knowledge and passion for your home can play a significant role in making potential buyers see a future in your home. If you prefer not to be home, leave it to us and we can show off your homes USPs and provide your buyers with everything they need to know about your home and the area.

Ready to make the most of your property sale?

Contact us today to schedule your open house event and take the next step toward a successful sale! We will ensure that all viewings are strictly by appointment and only for buyers that we have fully registered.

Call us on 020 8971 6780 or pop in to meet the team here at andrew scott robertson, next to the iconic Dog & Fox in Wimbledon Village.

We are a proud member of The Guild of Property Professionals, a unique network of 800+ Independent Estate Agents across the UK – We can promote your property far and wide thanks to our nationwide (and international) connections. If you’d like to speak to a property expert, give us a call for a quick chat or click here for a complimentary appraisal of your property.

A quick look at the latest RICS UK Residential Market Survey (August 2023)

Posted by Lea Bailey

Every month the Royal Institution of Chartered Surveyors (RICS) releases its UK Residential Market Survey, shedding light on the current state of the housing market across the UK.

This blog post is brought to you by our Chairman & Managing Director, John King, FRICS, who offers valuable insights from his experience here at andrew scott robertson in Wimbledon Village. He actively contributes his comments to the monthly survey for the London region.

Key outtakes from the full RICS Residential Market survey for August; 

Mortgage rates putting pressure on house prices
House prices are facing downward pressure, and it’s evident that high mortgage rates play a significant role in this situation. For potential buyers, the cost of borrowing is becoming a significant factor in their purchasing decisions. The relatively high mortgage rates are creating challenges in affordability, especially in areas where prices had surged during the pandemic.

Tenant demand outweighs supply
In the lettings market, the RICS survey paints a more positive picture, with tenant demand surpassing the available rental properties. This shortage of rental properties is a significant challenge for tenants seeking affordable housing options.

Rental prices on the rise
Given the imbalance between tenant demand and landlord instructions, rental prices are expected to rise further in the coming months. This can pose challenges for tenants looking for affordable rental options.

The RICS Residential Market survey for August 2023 highlights a market under various pressures, including high mortgage rates affecting house prices and strong tenant demand in the lettings market. As one of the leading residential sales and letting agents in Wimbledon and Wimbledon Village, we are committed to assisting both buyers and renters in navigating these challenges. Our team of experienced property professionals is here to provide expert guidance and tailored solutions to meet the unique needs of our clients, we have dedicated departments within the business that can assist you.

For more from the RICS UK Monthly Residential Market survey, you can download and read the full August 2023 report here: https://www.rics.org/news-insights/market-surveys/uk-residential-market-survey

Please feel free to reach out to us for personalised advice and assistance in this ever-evolving real estate market. Contact the right department for your needs here.

Regards,

John King, FRICS

Introducing Robin Catlin: An experienced addition to our commercial division

Posted by Lea Bailey

Robin Catlin has joined the commercial division of andrew scott robertson with over 40 years of expertise in the acquisition and disposal of offices, industrial, and distribution properties across the United Kingdom, Robin brings a wealth of experience to the specialised commercial property services offered by our team. For commercial property advice please contact Robin on +44 (0)20 8971 4999.

Prior to joining our commercial team, Robin successfully operated his own commercial property agency, establishing himself as a respected figure in the industry. Furthermore, his remarkable achievements led him to serve as the Chairman of the Industrial Agents Society, further highlighting his commitment and contributions to the field.

Robin’s decision to join us demonstrates his recognition of the company’s status as a leading commercial business, as well as his anticipation of the remarkable opportunities that lie within this vibrant area. Wimbledon and the Southwest London region has long been a hotbed for commercial ventures, and Robin’s in-depth knowledge of the area will undoubtedly strengthen our position as a premier provider of commercial property services.

With Robin’s arrival, we can expand our capabilities and deliver even greater value to clients seeking tailored solutions for their commercial property needs. His invaluable expertise, honed over four decades in the industry, will undoubtedly enrich our service offerings and enhance our reputation for excellence.

We warmly welcome Robin to andrew scott robertson and we are excited about the possibilities that lie ahead with his addition to our commercial division. We look forward to witnessing his continued success as part of our team, and we are confident that his presence will propel andrew scott robertson to new heights within the commercial property sector.

Please join us in extending a warm welcome to Robin as he embarks on this exciting new chapter of his career here at andrew scott robertson.

A New Edition of Life Magazine Is Now Available

Posted by Lea Bailey

Our latest edition of Life Magazine is now available. There are some great features including ‘Design Your Outeriors’ with ideas to get your gardens Summer ready and ‘Sit, Sip & Savour’ with some lovely gin recommendations to enjoy whilst enjoying the sunshine.

Click on the link to view Life Magazine

24 High Street,
Wimbledon Village,
London SW19 5DX

Tel: +44 (0)20 8971 6780
Fax: +44 (0)20 8946 3683