Eco Home Innovations
Our increasing concerns over climate change has meant there is more research than ever being done on ways we can reduce our energy usage, especially in our homes. We all know about solar panels, heat-pumps and wind turbines, but what else is there out there? We take a look at some of the latest innovations coming our way.
Mixergy
This is a smart, app controlled hot water tank that only heats what you need, making it both quicker and more efficient than a conventional hot water tank. It can be used with most existing systems, including gas, electric or solar. The manufacturers claim it delivers hot water up to 5x faster and will save you 5%-20% on your hot water bills. As an added bonus, it will also tell you if there’s enough hot water left for a shower!
Themocill
Thermocill is an innovative new product that helps reduce heat loss through windows. It replaces any existing window sills that are located above radiators and directs the warm air towards the glazing. This reduces both the amount of cold air coming into your house and the amount of warm air leaking out. It’s claimed you’ll use 14% less energy to heat a up a room and it will happen 19% faster. It should also substantially reduce condensation.
Q-bot
If you’ve got one of the estimated 8 million homes in the UK that have suspended wooden floors, then you could seriously improve your house’s thermal performance by using a Q-bot. A Q-bot is a robot that can be dropped under the floor where it will spray insulation onto the underside of the floor. Not only will it reduce your heating bill by up to 16%, it will also cut down on those unpleasant draughts.
q-bot.co
Magnetocaloric Refrigerators
Coming soon, this revolution in fridge technology uses magnets rather than the standard gas compression for cooling and will reduce your fridge’s energy consumption by over 25%. It also does away with fluorinated gas, which is used in most conventional cooling systems and is a powerful greenhouse gas. The same technology could be used for air conditioning, which consumes huge amounts of energy – approximately 10% of all global electricity.
Pee Power
Believe it or not, you can generate power from urine. It’s not some future concept, it’s available now and is already being used at Glastonbury. Here’s how it works - urine is passed through a series of Microbial Fuel Cells (MFCs). The microbes then feed on it, releasing electrons and generating electricity. No, I don’t understand it either, but before long, it might be coming to a toilet near you.
https://info.uwe.ac.uk/news/UWENews/news.aspx?id=3790
Generating electricity from thin air
Although this seems an even more unlikely source of electricity than urine, it’s generating a great deal of excitement. Scientists at the University of Massachusetts Amherst have developed a device that uses a natural protein to create electricity from moisture in the air. The technology, they say, could have significant implications for the future of renewable energy. Unlike solar power, Air-gen does not need either sunlight or wind and can even work indoors. Watch this space.
https://phys.org/news/2020-02-green-technology-electricity-thin-air.html
Thermoslate
For those who consider solar panels unsightly, there’s now a far less visually intrusive option - Thermoslate. Thermoslate uses the properties of natural slate to help convert the sun’s energy into hot water. The outer layer of the solar panels is made of natural slate, so it will blend perfectly with many of the UK’s traditional buildings.
Battery technology
One of the main disadvantages of both wind and solar power is the unreliability of supply and the lack of decent storage solutions. Currently, most systems use lithium batteries, but their ability to store energy over prolonged periods is limited. There are, however, lots of new battery types being developed that could provide uninterrupted power from the wind and the sun.
Bladeless wind turbines
Vortex Bladeless may look uncomfortably phallic, but they are at the forefront of harnessing the power of the wind. Instead of using spinning blades to generate electricity, they vibrate. It means they are more-or-less silent, pose no threat to birds and wildlife and take up considerably less space. They may, however generate some smirks from your neighbours, as their odd shape has already led to them being dubbed ‘skybrators’.
Are You Satisfied?
We may have the reputation of being a nation of grumblers, but what do we really think of our homes and the places where we live? Do we love them or hate them? And do we all think the same, from the young to the old? The rich to the poor?
Thankfully, those busy little bureaucrats down at the ONS (Office of National Statistics) have done a survey that tells us exactly what we think! And it makes for some interesting reading. So, let’s start with the areas in which we live. Do we really like them or are we just living there because it’s the best compromise we can afford? Surprisingly, it seems we may not be such a bunch of grumblers, after all, because 88% of us are at least reasonably satisfied with the location of our homes.
However, the biggest variation in overall contentedness is between the age groups. The least happy are those under 24 – although 82.9% are quite satisfied, just 46.7% are very satisfied. On the other hand 70.4% of those over 75 are likely to be very satisfied and a whopping 91.8% are at least fairly satisfied. It doesn’t make a lot of difference what sex we are, nor our income or ethnicity, which is good to know, because we do have a tendency to believe the lives of those richer than us are far better than our own. When it comes to dissatisfaction, however, money does count. 9.9% of those on the lowest incomes (£10,000 p.a. or less) are dissatisfied with their area compared to 3.8% for those earning over £50,000p.a. Ethnicity also appears to have an effect, but not a huge one. The average dissatisfaction levels for Caucasians are 6.5%, whereas the dissatisfaction rates for other ethnic groups are just in double figures.
And then there’s the question of whether the area we live in has got better or worse since we moved there? This time the roles are reversed, with the optimistic nature of the young shining through, because they have the highest percentage of people believing the area has improved (15.9%) and the lowest who thought the area had deteriorated (18.2%).
This compares to 24.6% of over 75 year olds who think the area is going down the plug hole and just 10.4% who believe it’s doing the opposite. The one thing most of us agree on is that it has stayed the same (+/- 65%) - and that’s across the board.
Then there’s our houses themselves. Surely we all want something a bit bigger, grander or maybe even just different? Well, I can tell you that, across all the age and ethnic groups, 89% of us are either satisfied or very satisfied with our accommodation. Now that doesn’t ring true when it comes to my household, because the size and location of the house is a regular topic of conversation. And, every time we get together with another family, they seem to be saying the same thing. However, that may be because we are relatively young and have children. The younger you are, the more likely you are to be pining for a new home. 75.3% of over 74 year olds are very satisfied, which is almost twice as many under 24 year olds (41.3%). But, it’s those households with children that are the least happy, because space is always at a premium - 8.2% are dissatisfied with their accommodation and 15.4% of single parents.
When the ONS combined our satisfaction levels for both housing and location, the average figure was 80.5%. Interestingly that figure has hardly changed in over 20 years, so the idea that our areas are going downhill may not be entirely accurate.
One thing’s for sure, though, Covid-19 has meant many homeowners are now looking for some more space. So, if you’d like a new home somewhere in Notting Hill all you need to do is give us a call.
Stamp duty to be extended
Stamp duty to be extended – more reasons to put your property on the market with Homesite
About 300,000 property purchases in England could benefit from a three-month extension in the stamp duty holiday, it has been estimated, as reports suggest the chancellor could be set to prolong the tax break in next week’s budget.
The tax saving - which cuts the bill entirely on properties costing between £125,000 and £500,000 and reduces it on homes costing more than that - was announced last summer and is due to end on 31 March.
However, Rishi Sunak is understood to have decided to extend it for three months in line with other measures to support the economy.
It is not clear if the extension would apply to all purchases, or would be on a tapered basis and apply just to those agreed before an earlier day, as lobbied for by some in the mortgage industry.
The rush to take advantage of the break, which amounts to a tax saving of £15,000, combined with lockdown restrictions across the country has led to delays and backlogs in the homebuying process, and calls for the deadline to be moved.
The property listing website Rightmove has estimated that if it is not changed, about 100,000 buyers who agreed a purchase in 2020 will have to pay the tax, which will add up to £15,000 to their costs.
It said that figure combined with sales that could be completed before a June deadline, could mean an additional 300,000 transactions escaped the tax, at a cost of £1.75bn to the Treasury.
In recent months the tax break seems to have led to a boom in transactions and prices, with official figures showing prices climbed by 8.5% in 2020.
The credit referencing agency Experian said there were 12% more applications in February than in the same period last year, even though the chance of completing before the March deadline is low.
Lisa Fretwell, Experian’s managing director of data services, said: “Extending the deadline will help ensure these people get their deals over the line and provide a welcome boost for the mortgage market.”
However some in the industry have said that the chancellor will just delay the inevitable “cliff edge” if he simply extends the holiday, and that a new hard deadline would mean buyers continuing to attempt to complete ate all costs.
Hedley Adcock, a director of property law firm Adcocks Solicitors, said buyers were “taking high-risk strategies to speed up the process”, such as skipping property searches and valuations.
“If an extension is announced next week, it is essential that a tapering-off period is also granted, such as a paperwork deadline,” he said.
“In other words, buyers who have either exchanged contracts but not completed, or those who can demonstrate they have started a transaction before the deadline and have incurred solicitor costs, for example.”
He added: “Our worry is that if the deadline is simply extended, we can expect to see buyers continue to take unnecessary risks to aid the moving process in a few months’ time.”
What will happen to house prices in 2021
It’s hard to believe now, but this time last year, all the talk was about how resilient the housing market had been in the face of Brexit uncertainty. And, with Boris Johnson’s election and his unexpected success in renegotiating terms with the EU, it all ended with a rising sense of optimism. Commentators were even promising ‘a far brighter, smoother year in 2020’. Little did they know.
By January, the market was beginning to feel the effects of the much anticipated ‘Boris Bounce’. Rightmove reported asking prices had risen by 2.3%, their biggest ever rise for the month. In February, asking prices rose again, this time by 0.8% and, according to Rightmove’s Miles Shipside:
“Owners coming to market this spring face their best selling prospects for several years.”
Even London’s market, which had been lagging behind the rest of the country, was showing signs of improvement. In February, prices in inner London rose by 3.5% and by 3.1% annually.
And then in March we had lockdown and house sales fell off a cliff. In an effort to prevent the market from crashing, the government slashed the base rate to 0.1% and introduced mortgage holidays for cash-strapped homeowners. Even so, many were predicting house prices could fall by as much as 15%.
Unable to buy or sell, the housing market was forced to tread water until May, when it unexpectedly reopened. After months of being confined to our homes, many were desperate for some extra space, especially those living in flats. With the weather improving, we also wanted gardens and easy access to open spaces.
All that pent-up demand meant, just two days after the reopening, there were 5.2 million visits to Rightmove’s property portal. It was a different story for first-time buyers, though. The crisis had made lenders wary of exposing themselves to those with smaller deposits and a huge number of high loan-to-value mortgages were withdrawn from the market. As a result, demand was far higher for houses than for starter flats, especially for those in less urban areas, as we sought refuge in the country.
In July the Stamp Duty holiday was announced and things really took off. Buyer inquiries rose by an astonishing 75% compared to July 2019. Activity didn’t even quieten down for Christmas. With delays in many parts of the sales process, buyers and sellers rushed to get deals tied up before the Stamp Duty holiday ends on 31st March 2021. In the midst of it all, our Brexit deal was finally signed off, although it no longer grabbed the headlines like it once did. By the time the year ended, prices were up by an impressive 7.3% (Nationwide).
So, what about 2021? After 2020, only the very brave would claim any real certainty, but the general consensus is that, despite the latest lockdown, the rush to beat the Stamp Duty will keep agents busy until the end of March. New sales activity, however, may be reduced from February, as deals agreed beyond January would be very unlikely to make the cut. As has happened with previous changes to Stamp Duty, there is then likely to be a significant lull.
What comes next is not yet clear but, by late spring, large numbers of people will have been vaccinated, which should bring about a feel-good factor. If we then see a rapid economic recovery then house prices will rise with it. If, on the other hand, the economy fails to recover quickly enough or unemployment rises more than expected, prices could come down. The uncertainty means experts’ predictions for 2021 are even more wide-ranging than usual, varying from -5% to +4%. Even if the most pessimistic of predictions came true (-5%), it would still not wipe off the spectacular and unexpected gains made in 2020.
2020: The facts
Nationwide: Dec 19 to Dec 20: National £230,920 +7.3%. London £486,562 +6.2%
Halifax: Dec 19 to Dec 20: National £253,374 +6.0%.
Land registry: Oct 19 to Oct 20: National £245,443 +5.4%. London £490,936 +3.9%
Hometrack: Nov 19 to Nov 20: Top 20 cities £259,900 +3.5%. London £485,100 +2.8%
Rightmove: Dec 19 to Dec 20: National £319,945 +6.6%. London £620,986 +3.5% (asking prices).
The predictions:
Please note – where possible, comparative figures for 2020 are from the commentator’s own indices.
Nationwide
Nationwide’s indices recorded growth of 7.3% in 2020. Last year, they predicted prices would remain flat. This time around, they haven’t given a precise figure but say:
”The outlook remains highly uncertain. Much will depend on how the pandemic and the measures to contain it evolve as well as the efficacy of policy measures implemented to limit the damage to the wider economy.”
Halifax
Halifax didn’t give an exact figure for 2020 but expected prices and transaction volumes to rise. In the event, they did, but – but by an unexpectedly high margin – 6%. This year, with unemployment likely to be on the increase, they expect prices to fall between 2% to 5%
Hometrack
They were one of the few to get things just about spot on with their prediction of +3% against a final figure of 2.8%. This year, they expect house price growth to slow to +1%
Rightmove
Rightmove are another who underestimated growth in 2020. Their 2% prediction was some way below the 3.5% reality. They are one of the more optimistic about 2021, forecasting growth of 4%, with housing remaining a priority on people’s life agendas.
RICS (Royal Institution of Chartered Surveyors)
RICS predicted prices would rise by 2% in 2020, which was some way short of the average 6%-7% reported by the larger lenders. They are yet to make a prediction for 2021.
ARLA Propertymark (National Association of Estate Agents)
Last year, more than a quarter of member agents (28 %) were expecting house prices to fall against 56% who expect them to remain the same. Only 25% got it right, expecting prices to rise. They have yet to make their predictions for 2021
A selection of other predictions
CEBR expects house prices to fall by 3% in 2021
EYITEM expects a fall of 5%
Capital Economics is also predicting a fall of 5%
What will happen to the rental market in 2021?
At the start of 2020, supplies of rental property were plunging and rents were rising. In January, Homelet’s Rental Index showed average rents were up by 2.3% and by 4.4% in London. Despite a raft of upcoming tax and legislative changes, landlords’ confidence remained surprisingly high - 25% were expecting rents to increase, and 32% were expecting property prices to rise (source: Paragon Mortgages). Then, just as with the sales market, March came and everything ground to a halt. Afraid of mass evictions and tenant hardship, the government allowed tenants to take a three month rental holiday and banned evictions.
Pent up demand ensured there was plenty of activity when the market re-opened in May, although COVID restrictions made viewings more complicated than previously. Just like the sales market, demand for inner city properties was markedly lower than for other areas, with tenants searching for more open spaces, resulting in a market that was operating at two different speeds.
As we moved into summer, landlords, unable to evict tenants, were becoming increasingly concerned about tenants’ arrears, although rents continued to rise - up by 2.1% between July and August. In the autumn, there was a brief window of opportunity for landlords to evict problem tenants, but with such large backlogs, only the most serious cases were heard. The extension of the furlough scheme until April 2021 did offer some comfort, providing vital financial support for both companies and their employees.
By the time the year ended, rents had risen by 2.7% across the country but had fallen by 4.5% in London. The average rent (excluding London) is now £838 and £1,556 in the capital (source: Homelet).
Commenting on the outlook for 2021, Andy Halstead, chief executive at HomeLet & Let Alliance, said:
“Whilst overarching optimism remains strong for 2021, with vaccines being rolled out for COVID, we can still expect a year that will be disrupted by the impact of the virus. With the new national lockdown and the prospect of additional restrictions to help curb the impact of the virus and new variants, we can expect the demand for certain property types and locations to grow, pushing rents up further.”
Our eventual return to commuting may also lead to increased demand for properties in city centres, especially if, as expected, the cost of commuting rises substantially as transport companies try to make up for their substantial losses.
As ever, there are some legislative changes to watch out for this year - electrical safety tests will be required for all existing tenanted properties by April 1st, although, the government is being lobbied to extend the deadline for another 12 months. The eviction ban has just been extended for another 6 weeks and may well be extended again. And, finally, the Right to Rent checks on EU citizens will change from 30th June 2021 to take into account the new Points Based Immigration System.
How easy is it to get planning in our area?
Many of us have spent far too much time lately cooped up in our homes, dreaming about extra space. You might have considered buying a garden office or, as this month’s design article reveals, turning your shed into some kind of outside den. The truth is, if you want enough space for an extra bedroom, bathroom, a home study or even just a bigger kitchen, you’re going to have to build an extension. And that involves the dreaded planning permission (https://www.gov.uk/planning-permission-england-wales).
We’ve all heard horror stories from friends and family about the fights people have had with their local planning departments. About how perfectly reasonable requests have been rejected – multiple times. How planners have insisted on the most ludicrous changes and conditions. That the process has gone on forever. Mostly, though, what we've heard is, whatever you want, the answer always seems to be 'no'.
I know exactly how that feels. I am currently battling it out with my own local planning authorities, who’ve come up with a list of some of the most ludicrous objections I have ever heard. At one point, they even claimed my house was “too near a conservation area”. Surely, either you are in it or not. Or are conservation areas made of stretchable elastic? Anyway, I confess, it led to me using some very unflattering language about them. Some of it not for young ears. However, I may have erred. It turns out they are not the worst planning authority in the country, after all, although their IQs and their parents’ marital status remain unproven.
And how is it that I know this? Roofing Megastore (https://www.roofingmegastore.co.uk/) has been digging through the data. Now I know for certain who the most difficult planning authorities are. Enfield’s residents - you may want to look away now, because your local planning department is, officially, the worst of the worst. On the other hand, if you like things just the way they are, you might think them the best.
Despite our preconceptions, Roofing Megastore discovered that 91% of planning applications for home renovations in England are granted. It does, though, depend very much on where you live. Your chances of success could be as low as 65% (Enfield), or as high as 99% (Carlisle, Cumbria). So, why are there such big discrepancies? The fact is, planning permission depends on a large number of variables. These range from neighbours’ objections, to site specific factors, the type of development, whether it’s a listed building or in a conservation area and, crucially, where, exactly, the property is located.
And, although there is a national policy framework, there are localised ones too. Planning authorities have their own, area-specific building regulations, planning constraints and development targets. There are also different individuals in charge, with different ideas and agendas. It means the same project could sail through in one area and stand no chance in another. Overall, the most difficult area to get planning permission is London. Below is a list of the top ten hardest places to get permission and 8 out of 10 of them are in the capital. That maybe a result of it being one of the most densely populated areas in the country, as any developments are more likely to impinge on their neighbours.
Sadly, a lot of time and money is wasted on failed applications. A full application for an extension costs £206. Over the past three years, 309,403 were rejected, costing £64 million. If you then add in fees for design, plans and surveys (typically around £2,000), the total waste could be as high as £619 million.
If you’d like to know what chance you have with your own planning project, just follow this link (https://www.roofingmegastore.co.uk/easiest-hardest-cities-planning-permission) and check out your area on the interactive map. As for me, I’m already thinking my best route might be an appeal.
10 Hardest Places to Get Planning Permission in England
Rank Area Approved %
1 Enfield, London 65.13%
2 Hillingdon, London 66.01%
3 Harrow, London 69.56%
4 Hounslow, London 71.24%
5 Greenwich, London 71.47%
6 Lambeth, London 73.55%
7 Rochdale, Greater Manchester 74.03%
8 Southend-on-Sea, Essex 74.46%
9 Newham, London 76.02%
10 Bromley, London 76.82%
10 Easiest Places to Get Planning Permission in England
Rank Area Approved %
1 Carlisle, Cumbria 98.90%
2 Copeland, Cumbria 98.72%
3 Richmondshire, North Yorkshire 98.17%
4 Vale of White Horse, Oxfordshire 97.89%
5 County Durham, North East 97.82%
6 Fareham, Hampshire 97.79%
7 Cornwall, South West 97.39%
8 Eden, Cumbria 97.38%
9 North West Leicestershire, Midlands 97.36%
9 Rushmoor, Hampshire 97.36%
10 Darlington, County Durham East 97.29%
Legislation 2020 – Are You A Landlord In Notting Hill Or Bayswater?
Did you know during the course of the last 2 years, there have been 19 new legislative changes that effect Landlords and Letting Agents for tenancies in England and Wales, and the penalties and fines imposed for non-compliance have been on the rise.
How many of the below are you familiar with as a landlord?
Civil Procedure (Amendment No. 4) (Coronavirus) Rules 2020
The new rules will require a landlord seeking possession of their property to set out in their claim any relevant information about a tenant’s circumstances, including information on the effect of COVID-19 on a tenant’s vulnerability or whether they are claiming benefits. Information should also be provided on how the pandemic has affected a tenant’s dependents if any.
Evictions under the Coronavirus Act 2020
Emergency legislation passed in the Houses of Parliament means that from Saturday 29th August 2020 tenants have to be given six months’ notice if you wish to regain possession of your property. (new forms 3 and 6A have been updated and will be published tomorrow). This includes possession of tenancies under the Rent Act 1977, the Housing Act 1985, the Housing Act 1996 and the Housing Act 1988.
The Deregulation Act 2015 Preventing Retaliatory Evictions – All tenancies from October 2018
This Act introduces new rules designed to prevent retaliatory evictions whereby a landlord evicts a tenant by the use of the Section 21 procedure simply because they have made a legitimate complaint about the condition of the property.
The Gas Safety (Installation and Use) (Amendment) Regulations 2018
The Gas Safety (Installation and Use) (Amendment) Regulations 2018 provide new flexibility in the timing of landlords’ annual gas safety checks and the date when the next safety check is due.
https://www.legislation.gov.uk/uksi/2018/139/introduction/made
Home and Planning Act 2016 – Banning Orders – Applies to all Landlords from April 2018
Banning Orders are part of a range of measures introduced in the Housing and Planning Act 2016 to tackle rogue landlords and letting agents. The Banning Orders will force the most serious and prolific offenders to either drastically improve the standard of the accommodation they rent out, or to leave the sector altogether.
The Tenant Fees Act 2019
The act enforces a ban on landlords, letting agents, or anyone acting on the tenant’s behalf in England to charge fees on top of the rent, except for a capped refundable Tenancy Deposit, a capped refundable Holding Deposit and tenant default fees.
https://www.gov.uk/government/publications/tenant-fees-act-2019-guidance
Licensing of Houses in Multiple Occupation (HMO’s)
Mandatory licensing will no longer be limited to certain HMOs that are three or more storeys but will also include buildings with one or two floors. Any landlord who lets a property to five or more people, from two or more separate households, must be licensed by their local authority.
The rules also introduce new mandatory conditions for national minimum sleeping room sizes and waste disposal facility requirements.
https://www.gov.uk/house-in-multiple-occupation-licence
Additional HMO Licensing
If the local authority believes there are problems such that there is a need to license certain HMOs not subject to mandatory licensing (such as section 257 HMOs or purpose-built flats situated in a block comprising three or more self-contained flats) it can designate a specific area as subject to additional HMO licensing.
The Deregulation Act 2015 Changes to Section 21 Notices – All Assured Shorthold tenancies from October 2018
There are new restrictions on serving Section 21 Notices early and a new template Section 21 form. The new rules also remove the need for a landlord to specify that a tenancy must end on the last day of a rental period; unless the tenancy started on a periodic basis without any initial fixed term where a longer notice period may be required depending on how often the tenant is required to pay rent (for example, if the tenant pays rent quarterly, they must be given at least three months’ notice, or, if they have a periodic tenancy which is half yearly or annual, they must be given at least six months’ notice.
Minimum Energy Efficiency Standards (MEES)
Landlords must not grant a new tenancy of a property (including an extension or renewal), nor continue to let the property (on an existing tenancy) after 1 April 2020, where the Energy Performance Certificate (EPC) is below the minimum level of energy efficiency for private rented properties of band E.
Homes (Fitness For Human Habitation) Act 2018
Landlords and letting agents acting on their behalf must ensure properties, including common parts where they have an estate or interest, are fit for human habitation at the beginning and throughout the duration of a tenancy. Tenants will now be able to take direct legal action if their agent or landlord does not comply with the Act.
https://www.gov.uk/government/publications/homes-fitness-for-human-habitation-act-2018
The Electrical safety Standards in the Private Rented Sector (England) Regulations 2020
Landlords must ensure:
• Electrical safety standards are met when the property is occupied
during a tenancy.
• Every fixed electrical installation at the property is inspected and
tested at least every five years by a qualified person.
• The first inspection and testing is carried out before new
tenancies commence on or after 1 July 2020 and by 1 April 2021
for existing tenancies.
Here at Homesite, as members of ARLA Propertymark and the Property Ombudsman, we understand the implications and repercussions of such pivotal change within the industry, and our experienced team are prepared for what lies ahead – so let us take the headache away and enable you to focus your time, on the things you like doing best.
Please get in touch with our Team if you have any questions or concerns regarding any of the above.
OUR CHANGING PRIORITIES WHEN LOOKING FOR PROPERTIES IN BAYSWATER & NOTTING HILL
Our changing priorities when looking for properties in Bayswater & Notting Hill
Lockdown has put a renewed focus on where and how we live. Some have emerged happier, some have made improvements. Others have decided it’s time to move on. According to a survey by Rightmove, it has changed the priorities for nearly half of renters (49%) and over a third of buyers (39%) currently looking for new homes.
One of the key issues is space. We want as much as we can get, but at the very least, a spare room that can be used as an office. It means there has been a substantial reduction in interest in flats. Before lockdown, the top 5 most sought after properties included both two bed (ranked No.5) and three bed flats (ranked No.3). Now there are only houses in the top five.
1) 3 bed house
2) 2 bed house
3) 1 bed house
4) 4 bed house
5) 6 bed house
For renters, the changes are even more pronounced. Studio flats used to be the most sought after. Now everyone wants small houses and bungalows.
We don’t just want bigger internal spaces, we want more outside space, too. Searches for homes with gardens on Rightmove were up 42% when compared to last year and by 84% for renters. The full list of our priorities is as follows:
63% - a bigger garden (or access to one)
43% - a bigger home
36% - access to parking space or garage
36% - a better home workspace
31% - to live closer to parks and green spaces
30% - to live in a more rural area
24% - to live closer to friends and family
22% - to live in a pet friendly home
15% - to live closer to non-essential amenities
13% - to live closer to essential local services
8% - to live closer to work
Renters have very similar priorities, although they rank ‘living in a pet friendly home’ higher, at No.3 (29%) rather than No.8.
With around half of the people Rightmove surveyed saying they were currently working from home (49%), it’s no surprise to find good internet speeds were also a priority. On the other hand, proximity to transport links and commute times were less so. That’s part of a more general desire to live in more suburban and rural areas, although it’s far more pronounced amongst buyers (30%) than renters (13%).
It will be interesting to see how many of these priorities change when the pandemic is finally over. There’s no doubt, as life returns to our cities, flats’ popularity will be restored. Some things, though, look set to remain. Many have enjoyed the experience of working from home and 21% said they’d like to continue doing so and 55% saying they’d like to mix home and office working.
Whatever your new priorities might be, we at Homesite can help you find your perfect home in any one of the following areas:
STAMP DUTY HOLIDAY
In a major boost for the housing market, Chancellor Rishi Sunak has just announced that, until 31st March of next year, stamp duty (SD) will not be payable on the first £500,000 of any house purchase. Buy-to-let investors and second home owners will also be eligible for the reduction but must continue paying their 3% surcharge on the full purchase price.
So how does the tax actually work?
What do the changes really mean?
How will this impact the sales market?
Stamp duty is a progressive tax, ie you pay nothing for the first £125,000 (£300,000 for first time buyers) and then 2% for the next £125,000, 5% for the next tranche and so on.
Standard bands (pre-holiday levels)
Bracket
Up to £125,000
£125,001-£250,000
£250,001-£925,000
£925,001-£1.5m
Over £1.5
According to Rishi Sunak, the changes mean 9 out of 10 primary home buyers will, during the holiday period, not have to pay any stamp duty at all. As you can see from the table below, savings top out for properties costing £500,000 plus, whose buyers will see their purchase costs come down by £15,000.This is a significant cash saving for purchasers as previously the stamp duty charge would have been paid from personal savings . The average buyer in London spends £628,284 and will save £15,000 . The table below gives you a rough guide to savings at different price levels.
Property value Standard Stamp Duty SD holiday rate Saving
£100,000
£200,000
£300,000
£400,000
£500,000 and above £15,000
Any purchaser buying in Notting Hill & Bayswater, where we specialise in, will directly benefit from the substantial saving due to the high value of property in the area as demonstrated in the tables below.
Notting Hill Standard Stamp Duty SD Holiday Saving
Average home: £1,908,765 £142,801.80 £127,801 £15,000.80
Average flat: £1,061,035 £49,853.50 £34,853 £15,000.50
Average terrace: £3,569,400 £342,078.00 £327,078 £15,000.00
Average semi: £7,315,090 £791,560.80 £776,560 £15,000.80
Bayswater Standard Stamp Duty SD Holiday Saving
Average home: £ 1,440,122 £87,762.20 £72,762.20 £15,000.00
Average flat: £ 1,069,049 £50,654.90 £35,654.90 £15,000.00
Average terrace: £ 2,931,231 £265,497.72 £250,497.72 £15,000.00
Average semi: £ 3,801,250 £369,900.00 £354,900.00 £15,000.00
The temporary reduction in SD is likely to substantially boost demand and is also likely to stimulate activity from both investors and second home buyers who’ve been previously put off by the high levels of tax.
looking back to 2016, when the then Chancellor, George Osborne, announced a 3% SD surcharge on BTL and second home purchases, it resulted in a huge spike in demand before the tax kicked in, almost doubling the normal number of sales in the month beforehand.
So taking into account the very real cash saving for purchasers plus the impact we have previously seen on the market when there have been significant tax changes in the past it seems the SD holiday represents an excellent opportunity for purchasers that are in position to buy and for sellers to capitalise on a once in a life time event allowing more buyers to enter the market, for a limited time only.
If you are considering selling & would like to discuss the above or any other property related matter the please feel free to contact Nigel or Douglas on 020 7243 3535
GEORGIAN, VICTORIAN OR EDWARDIAN HOUSES. WHICH PERIOD IS YOUR HOUSE?
We always read property ads and see phrases such as 'original Victorian features' or 'beautiful Georgian townhouse’. But how can we tell the difference between the periods and their characteristic features? Let's have a look to find out.
Georgian architecture 1714-1830s’
Spanning through the reigns of George the I, II, III and IV. Influenced by the Tudor period, Georgian architecture remained based on classical ideas of construction. Inner London Georgian houses were easy to build in symmetrical rows and incorporated the internal dimensions for the needs of the families of its time.
Georgian houses are recognisable from a number of features:
- One of the most noticeable features are the flat, shallow and squared roofs with small windows jutting from the eaves.
- Elongated rectangular windows which are the largest on the raised ground and first floor where the family would have spent their time. The windows become smaller towards the top of the building as this would have been the servants living quarters
- Stucco fronted external ground floor (especially regency houses), this may also include stucco cornices.
- Columns and proportions are symmetrical. The frontage is straight and flush stem from classical styles preceding this era.
- It is typical to find a fan window often positioned above the front door
- Oil lamp and extinguisher are now rare features which you may still find on the street in front of the property
- Many Georgian houses had small back yards, but not front gardens and pathways. This concept came later, with the Victorian era which was more grand and opulent with wide tiled garden paths leading to a grand front door.
- Cast iron railings at the front of the property is another tell-tale sign of this period.
Internally, these properties are generally laid out over three to four floors. Kitchens were usually in the basement. The ground and first floor typically have large, high windows. The rooms were spacious, boxy and squared, with symmetrical and generous proportions, boasting the fabulous high ceilings which are a well-loved feature of these period properties today. One of the most visible clues is the intricacy of the ceiling plasterwork found in genuine Georgian residences.
Examples:
There are many examples of Georgian architecture in London which can be found in Belgravia, Mayfair, Bloomsbury, and Fitzrovia.
Most famously, Number 10 Downing Street was constructed in true Georgian style.
The mansions that line regents park are an excellent example of this period and in Camden,
Little Green street consists of a small row of grade II listed houses from the Georgian period, although this example is not in the most opulent style, they are an excellent example of traditional Georgian characteristics.
Houses you can visit include the Benjamin Franklin house (near Trafalgar Square). Benjamin Franklin lived here for 16 years in the mid-1700s’ and is open to the public.
Dennis Severs House- Folgate Street, this house is part of the row of Georgian terrace houses and is open to visits to explore this era of London history and architecture.
Victorian Architecture 1837-1901s’
Compared to the previous period, the Victorians retained some of the features of Georgian grandeur and symmetry but wanted to show more wealth and abundance leading to more ornate and elaborate design details.
Heavily influenced by the renaissance and gothic revival movement, homes from this period were more opulent than their predecessors. Victorian architecture moves away from classic form and more towards individual expression with some gothic influence leading to a more detailed and intricate style.
Features:
- Pointed roofs, sometimes decorated with wooden beams, roof gables, dormers
- Bay sash windows
- Tiled garden paths, sometimes in colourful patterns
- Steeply pitched roofs which are great for loft conversions
- A more complicated architecture. Porches, bay windows
- Larger and more regular shaped bricks than previously handmade ones
- Stained glass panes
- Ornamented ridge tiles on the roof
- Wooden barge boards around the rook and possibly a decorative finial
- Garden both at the front and back
This era saw the implementation of window tax, which levied a fee determined by the number of windows in ones’ property. The more windows a property had, the richer the owner was considered. This led to many shrewd property owners bricking up unnecessary windows, a feature which is visible today on many streets in and around Notting Hill. This tax was abolished in 1851, making way for buildings such Leaden-hall. This beautiful indoor London market is covered by a series of windows that would not have been possible a few years previously, similarly Paddington and other stations are built in the same way.
Internally, this period continued to construct large spacious homes. Victorian design saw kitchens moved from the basement to the ground floor at the back of the house. Dado rails become popular. And with opulence came rich, dark colours and fireplaces in every room.
Examples:
Knightsbridge, Chelsea, Primrose Hill, and Hampstead display some excellent examples of Victorian architecture. Buildings such as Big Ben or Kings Cross station perfectly demonstrate the lines of the style of the Victorian era with its points, grandiose style, and ornate details. The Houses of Parliament are also an example of Victorian/Gothic style.
In Kensington and Chelsea, Au outstanding example of Victorian architecture is 18 Stafford terrace in Kensington. The house remains in true design, including the internal décor, and is open to the public to share the Sambourne family history and show Victorian style in its original form.
https://londonist.com/2016/05/georgian-or-victorian-how-to-tell-london-s-architecture-eras
Edwardian architecture 1901–1918
The Edwardian period marks a return to the classical while retaining a touch of Victorian pointiness and style. Whilst these properties keep design aspects from both of the previous eras, they are slightly less ornate than their predecessors. These grand houses tend to be found in more suburban areas due to their footprint and layout. These properties were built to suit the needs of their time, taking into account the change in socio-economic conditions,
Features:
- One of the most common features of an Edwardian home is a front porch- this was the period of front porches. It was must have to keep up with the Jones’s, and porch indicated one's financial standing. The more well-off, the more intricate the design of the porch.
- These properties were typically laid out over two floors on larger plots of land. Although built with fewer rooms, these tended to be more spacious than previous eras.
- Many Edwardian houses have wooden painted balconies on the first floor.
- This new period of design no longer included servant living quarters due to the effects of world war I when domestic staff had moved away from service and into factory work.
Internally, wider hallways, lighter colours through the living quarters characterise this period. Duel aspects rooms became fashionable as did French windows opening out to the back garden. Another popular feature of Edwardian homes was parquet floors.
Examples:
Ealing and Putney provide good examples of Edwardian architecture in central London. The Mapesbury area in Kilburn and around Willesden Green also consist of houses from this period.
In North Kensington, houses from this period are found along St Quintin’s avenue W10. Oxford gardens and surrounding roads are also good examples of grand Edwardian architecture.
For period properties to buy in Notting Hill & Holland Park- Click here
For period properties in Bayswater & Queensway- Click here
For period properties in Kensington- Click here