Notting Hill Blue Plaque Tour
Notting Hill is one of the most vibrant and colourful neighbourhoods in London. It's also home to many famous historical landmarks, including the Notting Hill Blue Plaque Tour. This tour is a must-see for anyone visiting the neighbourhood. The plaques commemorate some of the most important and influential people who have lived in Notting Hill over the years.
22 Portobello Road
The first stop on the tour is at number 22 Portobello Road, which is the former home of writer and social activist George Orwell. The plaque commemorates Orwell's time spent living in the neighbourhood and his important work in exposing poverty and inequality in British society. Orwell lived in Notting Hill for two years, from 1927 to 1929. He was attracted to the area because of its diverse population and vibrant atmosphere. In his book "Down and Out in Paris and London", Orwell chronicled his experiences living among the poor and working-class residents of both cities. His time spent in Notting Hill helped to shape his political views, and he would go on to become one of the most important authors of the 20th century. The plaque at 22 Portobello Road is located on the side of the building where Orwell lived. It's a small, unassuming plaque, but it's definitely worth taking a photo of!
Orwell is just one of many notable figures who have called Notting Hill home over the years. The area has long been a haven for artists, writers, and musicians. Many famous people have lived in the neighbourhood, including playwright Oscar Wilde, singer Amy Winehouse, and actor Hugh Grant.
25 Kensington Park Road
The second stop on the tour is at number 25 Kensington Park Road, which is the former home of British Prime Minister Winston Churchill. Churchill lived in Notting Hill for over 20 years, from 1900 to 1922. He was first elected to Parliament in 1900 and served as Prime Minister from 1940 to 1945. Churchill is one of the most important figures in British history, and his time spent living in Notting Hill was crucial to his development as a politician. The plaque at 25 Kensington Park Road commemorates Churchill's time living in the neighbourhood and highlights his importance to British history.
33 Pembridge Road
The third stop on the tour is at number 33 Pembridge Road, which is the former home of writer Virginia Woolf. Woolf lived in Notting Hill for two years, from 1912 to 1914. She was attracted to the area because of its bohemian atmosphere and diverse population. Woolf is best known for her novels "Mrs Dalloway" and "To the Lighthouse". Both novels are set in London, and many of the locations mentioned in the books can be found in Notting Hill. The plaque at 33 Pembridge Road commemorates Woolf's time spent living in the neighbourhood and her important contribution to literature.
45 Lansdowne Road
The fourth stop on the tour is at number 45 Lansdowne Road, which is the former home of poet W.B. Yeats. Yeats lived in Notting Hill for two years, from 1909 to 1911. He was attracted to the area because of its bohemian atmosphere and diverse population. Yeats is best known for his poems "The Lake Isle of Innisfree" and "When You Are Old". He also wrote many plays and essays and was a key figure in the Irish Literary Revival. The plaque at 45 Lansdowne Road commemorates Yeats' time spent living in the neighbourhood and his important contribution to Irish literature.
60 Golborne Road
The fifth stop on the tour is at number 60 Golborne Road, which is the former home of artist Banksy. Banksy lived in Notting Hill for two years, from 1997 to 1999. He was attracted to the area because of its vibrant street art scene. Banksy is best known for his stencilled graffiti art, which often features political or social commentary. He has become one of the most famous artists in the world, and his work can be found all over London. The plaque at 60 Golborne Road commemorates Banksy's time spent living in the neighbourhood and his important contribution to street art.
Notting Hill is a truly special place, and it's easy to see why so many famous people have chosen to live there over the years. The area has a rich history, and its diverse population and vibrant atmosphere make it a unique place to live. If you're ever in London, be sure to take the Notting Hill Blue Plaque Tour! It's a great way to learn about the area and see some of the most important sites in British history.
Which period has the most valuable homes?
Victorian? Georgian, Elizabethan? Newbuilds?
Have you ever wondered what effect the age of a property has on its value? What is the
difference, say, between a 4-bedroom Victorian house and a comparable Georgian one? Come
to that, what are the most and least valuable periods for property? And what about new
builds? Are they more valuable?
A few years ago, Halifax carried out a survey to answer just these types of questions, comparing the
prices paid for different period properties of similar sizes and locations. Clearly, it is not possible to be
100% accurate with comparisons of these kinds, as many of the older properties are unique, however,
it does give you a rough idea of how it all works:
Medieval (1000-1500) +20%
Tudor (1500-1558) +31%
Elizabethan (1558-1603) +32%
Jacobean/Carolean1/Cromwellian (1603-1660) +34%
Restoration/William & Mary/Queen Anne (1660-1714) +24%
Georgian/Regency/William (1714-1837) +18%
Victorian (1838-1901) +8%
Edwardian (1901-1919) +2%
End WWI to end WWII (1919-1944) +4%
Post War (1945-1959) +0%
Sixties (1960-1969) -2%
Seventies (1970-1979) -3%
Eighties (1980-1989) +3%
Nineties (1990-1999) +8%
Present (2000 +) +12%
New Builds - Much like a new car, they often have a one-off premium when first occupied, which can
run up to 25%.
From these statistics, it is clear that, despite the draughts, the high maintenance costs and the
planning restrictions, we are still in love with period property. And, the older the better, although
unsurprisingly, it is starting to lose its shine when it comes to medieval-style accommodation. In
contrast, newer properties carry a premium for the first few years until they start to look dated, at
which point their values dip slightly for between 30-40 years before they come back into fashion.
What is a little surprising is that there is not more of a premium for Georgian and Victorian properties,
although this may be explained by their relative abundance. There are plenty to choose from and that
puts a cap on their premiums. A Tudor or a Jacobean house, on the other hand, is more likely to be a
one-off.
The biggest surprise in the survey is that there is a premium to be paid on thin-walled and dated-
looking Eighties properties (+3%). I would have expected their prices to be more closely related to
seventies stock (-3%). Mind you, beauty is in the eye of the beholder and so my surprise may just be
down to my personal preferences.
It will also be interesting to see, with rising energy costs, whether newer, better-insulated homes will
generate increasing premiums when compared to older stock. There’s no doubt that many people
who are buying properties as a buy-to-let investment and with new energy
efficiency requirements coming in for the sector in 2025, it’s likely to be an increasingly important consideration.
Getting onto the housing ladder in Notting Hill
First-time buyers (FTBs) have been struggling for some time to get onto the housing ladder in Notting Hill. Now, with food, energy and mortgage costs surging, it’s getting harder. Nationwide has just published some new research which reveals the true extent of the issue.
Their survey of 2,000 aspiring FTBs found that of those who were planning on buying in the next year or so, as a result of the rising cost of living, 70% had been forced to delay their purchases. Most said they would put it on hold for around two years, but 19% said it could be for more than three years.
With the average deposit for FTBs around £61,000 (source: Barclays), it is, unsurprisingly, one of the biggest barriers to entry to the housing market. And, in the current inflationary climate, 88% of FTBs said their ability to save it had been severely impacted. 38% went further, saying they were now having to raid their savings rather than adding to them. Many have responded by trying to cut down on their expenditure. Below are some of the key areas where they are making savings:
47% have reduced everyday spending
43% have cut back on going or eating out
37% have reduced their household bills by shopping around
36% have sold some of their possessions
35% have cancelled unused subscriptions
23% have moved to a savings account that rewards homebuyers (e.g. Lifetime ISA, Help to Buy ISA etc)
21% are now using cashback deals
20% are also using a savings or budgeting app
17% have taken on an additional job
12% are putting off starting or adding to a family
The situation is also making FTBs consider moving to new areas, with 69% now willing to do so in order to get a bigger property. It also means many are having to buy far later in life. Even though most hope to own their first property by the age of 27, 30% admit that is unlikely and 33% of those interviewed had already passed that point. The average age of an FTB, however, is 32.
Under the circumstances, putting off a purchasing decision may appear to be a wise decision, but there are some good reasons why they shouldn’t:
1) Mortgage rates are already rising and are likely to climb even higher in the next year or two. Buyers will therefore make substantial savings if they lock in a low 5-year rate before they do.
2) What’s more, if the economy goes through a sticky patch, as seems likely, lenders are likely to become more cautious, limiting their exposure to the housing market by pricing out the riskier borrowers from their mortgages – i.e., FTBs.
3) Demand in the rental sector is already substantially outstripping supply and rents are rising. The cost-of-living crisis and delays in purchases by FTBs will push them even higher, making it far harder, moving forwards, to save for a deposit.
4) Although the economic conditions will soon have an effect on house prices, they are still expected to keep on rising, just at a slower pace, pushing them further and further out of reach.
5) Whatever happens in the short-term, people always stay longer than they expect in their homes and, in the longer-term, house prices always rise.
If you are a first-time buyer and want some advice, why not give us a call at Homesite. We have plenty of experience in helping FTBS get on the property ladder and we have lots of exciting properties for you to see.
Timings for buying a new home
Finding and buying a new home always take a little longer than people expect. The timings will also vary wildly, depending on individual circumstances.It is also makes a huge difference if you have Timings for buying a new home, to keep things on track.For most of us, though, it takes somewhere between 3 and 6 months. Below are the key stages and some rough guide times.
Step 1:mortgage in principle – 24 hours
Before you fall in love with an area or a house you can’t afford, find out how much you can borrow – which you can do by getting a mortgage in principle (MIP). This will also put you in much a better position when dealing with both estate agents and sellers, as they will take you more seriously, especially if you make an offer.In order to get one, you will need to provide a lender with some basic details about your income, expenditure, and debts. They can sometimes even be done over the phone and will last between 60 and 90 days. If you have a property to sell, in the current climate, you will also need a proceedable offer on it before you can make one of your own.
Step 2: finding your dream home - 6 to 26 weeks
Armed with your MIP, you can then focus your search more precisely on areas and properties that suit both your needs and your budget. Putting an exact timetable on this is difficult, as it depends on a wide range of factors. Clearly, it’ll be much quicker to find a terraced Victorian house in an area that is full of them, rather than something more unusual, such as a waterfront property in a remote area. It is also dependent on how much you are prepared to compromise (or adapt) your wish list, especially if you are pushing at the limits of your budget.And don’t just concentrate your search on the portals. As your local agent, we at Homesite can not only offer plenty of help and advice, we can also sometimes let you know about properties before they even come onto the market.
To give you an idea of what’s involved - according to research, on average, we look at 38 properties – 28 online and 10 in person - before finding ‘the One’. And when we find it, we tend to fall in love pretty quickly –within 480 seconds, to be precise.
Step 3: making an offer (and having it accepted) - 1 hour to 1 week
You might be lucky and have your first offer accepted.Normally, however, it takes a bit of toing and froing and some rejigging of finances before a deal is struck and it’s celebration time. Mind you, you may want to keep your champagne on ice, as there are still quite a few hoops to jump through.
Step 4a: conveyancing - 4 to 12 weeks
If you don’t already have a solicitor, you now need to appoint one to do your conveyancing. This will involve him or her doing various different checks on your new property, from any planning and building control issues, to flooding, boundaries, ownership details and the status of any leases. Most of the basic searches only take a few days, but local authority ones can vary between 2 and 42 days and getting information from freeholders can be very slow at times. In addition, the process will often uncover issues that need dealing with and these can extend the timetable to varying degrees, depending on their complexity.
(Step 4b: mortgage offer - 2 to4 weeks)
At the same time as doing your conveyancing, you should also request a formal mortgage offer on your property. This will entail quite a bit more paperwork than an in principal mortgage and will also involve a mortgage valuation of the property.
(Step 4c: survey - 1 to 4 weeks)
The mortgage valuation is solely for the benefit of the lender and so buyers are recommended to carry out their own surveys. The timetable depends on the availability of both the seller and the surveyor, but a report can normally be done within a few days. The report, though, can sometimes highlight things that need fixing and negotiating with the seller over any resulting price reductions will extend the buying timeline.To avoid any unnecessary delays, it is recommended that a buyer instructs a survey as soon as their offer is accepted.
Step 5: exchange to completion - 4 weeks
Some of the biggest delays are caused by chains – trying to keep multiple sales on track and ready to exchange and complete at the same time can prove very tricky. To give you an idea of what’s involved, it takes up to 60% less time to purchase a house that is not involved in a chain. Once you do exchange, completion can, in theory, be on the same day but mostly is normally within 4 weeks.
Step 6: moving in
Now you can finally uncork that champagne.
If you’re thinking of buying (or selling) a home, just give Homesite a call and we can set you off on the right path
Insider tips from builders
We hear so much about building projects from the homeowner’s perspective, so wouldn’t it be interesting to get the builder’s viewpoint for a change? They're not always an easy bunch to pin down, but fortunately for us, Direct Line Insurance has recently carried out a survey in the area.
According to the 100 builders they quizzed, it's home extensions that are the most popular trend in home improvements, with the average one costing around £35,000. Given that the difference between the average two and three bed properties in London is around £160,000, it’s not much of a surprise. What was more of a surprise was that the builders claim that over 70% of projects are completed within the agreed timeframe and budget, although they did admit that 26% of projects ended up being more expensive than the original quote and 35% ran over time. Maybe I've been watching too many episodes of Grand Designs, but every project Kevin McCloud comes across seems to run hugely over budget and are never even vaguely close to completing on time.
One thing we all agree on is that what homeowners want most is extra space and light. So, on top of all those new extensions, our builder friends are also busy removing walls and adding sliding glass doors and skylights.
Now for the bad bits. If you are thinking about doing a loft conversion – beware! Despite being one of the cheaper types of extensions, 36% of the builders claim they are the most likely home improvement to go wrong. Bathrooms (26%) and kitchens (19%) are next in line. Being on the upper floors and with all that water, bathrooms are not where you want any problems, but before you panic, it doesn’t necessarily mean they leak.
Probably the most useful feedback from the survey is the builders’ top tips on how to get the best out of them, which include:
- Agree a quote beforehand - set aside a strict budget, but don’t forget to allow a contingency in case of any overspend
- Agree on a realistic time frame upfront, but bear in mind that it may be affected by external factors, such as the weather
- Make sure you understand exactly what is involved in the project and be completely honest about any previous work that’s been done in the past that may affect the current job.
- Maintain regular contact with the builders throughout the project period
- Make sure you have a contract in place that covers the responsibilities for all parties and never hand over payments upfront
- Always use the same workforce from start to finish to ensure consistency
- Ensure the builders are working exclusively on your project and that they commit to working on it every day and don’t just turn up when it suits them
- Check your builder has the right insurance in place before any work begins
Most of all, they recommend you plan everything in as much detail as possible and you must get three competitive quotes.
How have house prices in Notting Hill, London performed over the decades?
At Homesite, we know that people often buy investment properties with an eye on long-term gains rather than just a quick profit. We thought therefore, we’d take a look at how the housing market performs over decades rather than years, and the results make for some very interesting reading.
According to a report from Nationwide, the last full decade (2010s), was a fairly mixed period. At 33%, they had the weakest growth since the 90s (21%), yet it was also a period of low inflation and interest rates. In contrast, average prices rose by an eye watering 180% in the 80s. However, inflation was far higher - interest rates hovered between 10%-15%, then peaked at 18.63% before the market eventually crashed spectacularly in 1989.
Despite tailing off over the last couple of years, London was the top performing region in the 2010s, with house prices rising at twice the UK average (+66%). London’s immediate surroundings, Slough, Guildford, Crawley, Chelmsford etc, were the next best performers – rising by 54%. On the whole, the further north you went, the worse the performance. Scotland’s house prices rose by just 8%, the North by 11%. Yorkshire, the Northwest, and Wales came next at 17%, although Northern Ireland did the worst at 2%.
Affordability is key to a fully functioning housing market and there was a very mixed picture during the 2010s. Although prices were up 33%, wages rose by just 20% during the same period. Some of this was offset by historically low interest rates (and mortgages).
Even so, the effect rising prices are having on first-time buyers (FTBs) has been well documented, especially when it comes to deposits. Nationwide’s chart shows the typical time it would take an FTB to raise a deposit if they set aside 15% of an average area income.
London, unsurprisingly, represents the biggest challenge - at the end of the last decade, it would have taken just over 10 years to save a 20% deposit. Now it takes 15 years. In the North, the time taken has actually come down, slightly, from 5.5 years to a smidgen over 5 years. The West Midlands is, appropriately, somewhere in the middle at just under 8 years, up from just under 7. It should be noted that most people now buy with their partners, resulting in a higher combined income and far shorter savings periods.
In contrast, mortgage affordability has improved, with mortgage payments representing a lower percentage of FTBs’ take-home pay, with average mortgage interest rates around 2.4% during the 2010s compared to 5% in the previous decade. Only in London and the Outer Metropolitan areas have mortgage payments grown as a percentage of income.
One thing is very clear - over the last four decades, despite plenty of bumps in the road, including some quite serious ones, prices have always risen, making houses an exceptional investment over the longer term. Affordability, though, can bounce between negative and positive territory and, moving forwards any significant rise in the base rate could impact on affordability and have a knock-on effect on house prices.
If you’re looking for an investment opportunity, please do register with our team
What are the implications of the base rate rise?
With inflationary pressure continuing to build, the Bank of England (B of E) raised the base rate yet again this month by 0.25% to 0.5%. Unused to rises, especially back-to-back ones, it may come as a shock to many borrowers but what effect will it have on the housing market?
Firstly, it should be remembered that the rises have come during a period of historic lows. The base rate has only now risen to the same level it was at when the B of E slashed it to 0.5% in response to the 2008 financial crash. Nor will it affect the majority of borrowers, at least in the short term – roughly a third of homeowners don’t have a mortgage, a third are on fixed rates and only the remaining third are on lenders’ variable rates. And, for those on variable rates, the difference in the average mortgage payment will be just £300/year or £25/month, which is not a significant amount of money.
Secondly, mortgage rates tend to follow swap rates (the rates at which banks borrow money) rather than the base rate. They are also affected by varying levels of competition within the different lending sectors. So, although most lenders have added the rise to their variable rates, they have not yet added the full 0.25% to the cost of their fixed rate products. Rates had already been creeping up since October last year, but only very slightly and there are still plenty of mortgages available sub 1.5% for those who have a decent deposit.
Moving forwards, the base rate is likely to rise several more times during the course of 2022, reaching between 1.25% and 1.5%. It means the average mortgage rate is therefore expected to go up from its low point of 1.5% in November 2021 to 2% by December 2022. To put that into some sort of historical perspective, the average 5-year fixed rate mortgage was as high as 6.19% before the 2008 crash and only dipped below 2.5% towards the end of 2016, after which it hovered around 2% until the start of 2021. Within that context, 2% is therefore still an exceptionally low rate. And, for anyone coming off a 5-year deal, a 2% mortgage would represent a reduction rather than an increase, as the average rate five years ago was 2.34%. For those on a 3-year deal, there will be a rise, but only a very modest one, with the average rate around 1.81% when they fixed theirs.
If you want to see how the housing market has reacted, you only need to look at how house prices are continuing to rise, up 0.8% last month and by 11.2% annually (source: Nationwide), to see our confidence remains as high as ever.
Below is a selection of this month’s best buys from Moneyfacts.co.uk, which will give you an idea of the kinds of mortgage rates currently on offer:
HOME PURCHASE
Two-year fixed rates: 1.39% from First Direct. Product fee £490. 60% LTV.
1.40% from Barclays. Product fee £995. 60% LTV.
Three-year fixed rates: 1.45% from Barclays. Product fee £999. 60% LTV.
1.54% from Barclays. Product fee £999. 75% LTV.
Five-year fixed rates: 1.54% from first direct. Product fee £490. 60% LTV.
1.61% from HSBC. Product fee £1,499. 60% LTV.
Discounted variable: 0.89% For 2 years. From Progressive BS. Product fee £0. 60% LTV.
1.00% For 2 years. From Stafford Railway BS. Product fee £1,000. 75% LTV.
BUY-TO-LET (BTL)
Best two-year fixed rate: 0.99% from The Mortgage Works. Arrangement 2.00% Advance. 65% LTV.
Five-year fixed rate: 1.49% from The Mortgage Works. Arrangement 2.00% Advance. 65% LTV
Best Discounted variable: 1.34% for 2 years. from Accord Mortgages. Completion £995. 60% LTV.
Your guide to design trends in 2022
At Homesite, we like to keep you up to date with all the latest trends. This year, many of the key ones have been influenced by the amount of time we have been spending in our homes. It seems we now want a little luxury in our lives, especially in our bathrooms. We are also aspiring to more mindful spaces, filled with plants, natural materials, and restful colours.
Colours
This year, colours are a bit of a mixed bag. Neutrals and bright colours are both going to be popular. Pantone’s colour for 2022 is 17-3938 – Very Peri – a kind of violet-purple that Pantone claims is both spritely and joyous. Dulux’s colour of the year is Bright Skies – a more subtle, pale summer blue. And, according to Houzz magazine, other in-demand colours will include sage green, duck-egg blue, mustard yellow and any shade of green. Colour drenching is another key colour trend – painting the ceiling the same colour as the walls, which produces far more impact than the usual white.
Sustainability
There has been a growing emphasis on environmental issues and that extends to our homes’ interiors. We are taking an ever-closer look at the type of materials being used and where they come from. As a result, natural materials, such as rattan, cane and raffia are likely to be much sought after in 2022. House plants have been popular for some time, but have now reached a new level. In a movement known as biophilia, some people are designing their entire homes around them.
Themes
These days, there’s no overriding design style, there’s a multitude of different ones. This year, though, there are a couple of hot, yet contrasting style trends.
CottageCore: our flight to the country has shone a spotlight on a less urban way of living and CottageCore is all about materials and finishes that are homely and imperfect. Think distressed finishes and gracefully ageing furniture.
Japandi: Although Scandinavian design remains popular, it has been around for a very long time. To freshen it up, many are now mixing it up with Japanese elements, such as darker woods, bamboo, and slatted wood.
One trend that is likely to be on the wane is mid-century design.
Rooms
Bathrooms: If you are looking for clues for this years’ bathroom trends, you only need to take a look at Houzz magazine’s latest search data. According to them, during lockdown, we have been developing a taste for hotel-level bathrooms. Searches for them have increased by 435%. Searches for saunas have gone up by 1065% and freestanding baths by over 150%.
Bedrooms: Bedrooms are another area where we are looking for a little luxury. Colours will be more neutral than they are for other rooms, and fabrics natural – cotton and linen, in particular. Hotel-style panelling will also be in in 2022, as well as textured wall coverings. As always, clever storage will be a top priority.
Kitchens: Top of the kitchen list for 2022 is a statement worktop. Houzz reports searches for ‘chunky quartz’ were up by 417%. Islands with wrap-over worktops are another hot item and curves and copper will be everywhere.
Living rooms: Things will get more colourful here than in the rest of the house. Green velvet is going to be one of the bigger trends - on furniture, fabrics, and curtains. Statement lighting is also likely to be highly popular. The natural world is coming to your living rooms, too, in the form of plants and animal prints. With home offices springing up all over the place, zoning will be key. This can be done with a rug, freestanding screens or even with colour or texture changes.
Gardens
The lines between inside and outside living are likely to blur even further during 2022, with kitchens, dining tables and rugs all moving outside.
Hopefully, this year will also see the end of the worst of the pandemic. As a result, we are likely to be spending far less time in our homes and it will be interesting to see how that affects the design trends next year.
If you are looking for a stylish new home in any of the areas listed below – all you need to do is give us a call at Homesite.
#NottingHill
#Bayswater
#Hollandpark
#Kensington
Selling in Winter?
Selling in Winter?
Although the first few months of the year are not always considered to be the best time to put your property on the market in Notting Hill, there are a number of advantages to selling in winter, especially this year.
Whatever the season, people still need to move, as the many drivers of change don’t suddenly come to a halt just because of a change of season - there are still divorces, marriages and deaths. Babies keep on being born, children grow and some of us still have to move for a new job. There are, though, some specific advantages to selling in winter. Unlike spring, there is far less competition from other sellers at this time of year and buyers tend to be more serious. And, with the supply of new housing stock coming to the market already tight in many areas, there is even less competition between sellers than normal. So, for example, if yours is the only two-bedroom flat for sale in the area, buyers will not be able to make endless comparisons before choosing a near-identical one next door just because it has a slightly newer bathroom.
In addition, mortgage rates are incredibly low at the moment but are likely to rise during the course of this year, so buyers will want to lock in those low rates while they can. And when those rate rises happen, the market may go soft for a month or two as we adjust to the new reality, so you are better off selling beforehand.
There are, however, some things you need to do to prepare your house for sale in winter. At this time of year, exteriors can look tired and grubby, gardens tend to be covered in dead leaves and plant matter and the inclement weather will have given paintwork and windows a hard time.
The old mantra that first impressions count was never truer, so the first thing you need to do is to sweep up those leaves, cut back any dead plants and give your windows and paintwork a really good wash with soap and warm water. You should mow the lawn, too. As long as you set the mower a little higher than normal (grass should be about 2 inches long), it won’t do any harm whatsoever and it’s amazing what a difference it makes.
With less natural light available, pay careful attention to your lighting. And that starts on the outside - a warm and welcoming porch light will set the right tone, right from the start. You want all the lights on inside, as well. Although, be careful, a single source of light can make a room look like a prison cell and will do more harm than good. If you want to mimic natural daylight, which should be your aim, you need multiple, low-level light sources. If necessary, go and buy some extra free-standing or table lights.
The house’s temperature is another important consideration - it should be warm and snug, but not hot. The recommended temperature is between 19-21 degrees, so make sure it stays around those levels whenever there are viewings and that you allow plenty of time beforehand for it to warm up. If you’ve got a gas fire, it is well worth lighting it, as it will help create the right kind of ambience. Lighting a real fire, on the other hand, is not recommended, as it can be dangerous if left unattended.
Some other useful tips include - providing somewhere for coats to be hung (so people relax and don't overheat), making sure there is somewhere for visitors to wipe their shoes before coming in, that you have some pictures of the garden available of what it looks like in summer. And don’t put away all your garden furniture just yet because, otherwise, the garden would look empty, but do give it a good clean. Lastly, place some fresh flowers around the house, as it will really cheer the place up.
If you’ve got a property in Notting Hill and are considering selling (or renting it out), your first step is to give us a call at Homesite, and we can set you on the right path.
New EPC rules coming
At Homesite, we like to keep our customers up to date with all the latest legislation and there are some changes coming to EPC regulations (Energy Performance Certificates) that we think you should be aware of.
EPCs were first introduced back in 2007 and, at the time, were the subject of much derision. Our ever-increasing focus on the environment means their importance has been steadily growing and they will soon be hitting centre stage. That’s because, there is currently legislation passing through Parliament, the Minimum Energy Performance of Buildings Bill, which will make it compulsory for all newly rented tenancies to achieve an EPC rating of at least ‘C’ from 2025. From 2028 it will be extended to all tenancies, new and existing, and from 2035 it will apply to all homes for sale.
There is likely to be a transition period but, afterwards, to ensure maximum compliance, there will be a maximum fine of £30,000 for any breaches of the rules. At the same time, the government is pushing lenders to increase the borrowing costs for the most energy inefficient properties.
As the bill has yet to be passed, it is still subject to amendments. However, with our homes responsible for nearly 20% of the UK’s CO2 emissions and the government attempting to burnish its green credentials, there are unlikely to be any significant changes. Most of us would applaud its intentions, but it involves some serious issues (and costs) for the property market. The fear is many older and period properties will be either very expensive or impossible to bring up to a ‘C’ rating.
An EPC measures the energy performance of a property and has 7 bands – ‘A’ to ‘G’– with ‘A’ the most energy efficient. The assessment is carried out by a qualified domestic energy assessor who will look at everything from how well insulated the property is to the heating system it uses and the type of windows it has. The property is then issued with a grading and a number of suggestions as to how to improve its performance.
Only 2% of homes currently achieve an ‘A’ or ‘B’ rating, 85% are ‘C’ or ‘D’ and 13% are between ‘E’ and ‘G’ (source: English Housing Survey). The older the property, the more likely it is to have a poor rating. 47% of Victorian buildings (pre-1900), for example, have an EPC rating of ‘E’ or worse. Rental properties also tend to perform poorly, with around 67% of them below the required 'C' rating. And, according to Rightmove, there are as many as 1.7 million homes in England and Wales that may never be able to achieve a ‘C’ rating.
Before you panic, there are lots of ways you can improve a poor EPC rating, some quick and cheap but others can be expensive. Below is a list of the points required for each grading and the number of points you can add by making changes. Clearly, the more inefficient the original items, the bigger the points boost you’ll get for replacing/improving them:
EPC Ratings
A - 92 points
B - 81-91 points
C - 69-80 points
D - 55-68 points
E - 39-54 points
F - 21-38 points
G - 1-20 points
A rough guide to points boosters
Loft insulation 270mm + 10-15 points
Cavity wall + 5-10 points
New boiler + 5-20 points
Insulate water cylinder + 2 points
Seal chimney + 1-2 points
Solid wall insulation + 10-20 points
Renewables (ground source heat pump, etc.) + 10 points
Single to double glazing + 5 points
LED lights and draught-proofing + 1 point
If your property is a typical ‘D’ rated one, you will probably only need around 10 extra points to boost your rating up to a ‘C’. The problems come if yours is an older property with a lower rating and you need to start insulating non-cavity walls and floors, replacing all your windows and installing some kind of renewable heat system. Solid wall insulation will cost around £7,000 for a terraced house and £20,000 for a larger detached one. This can sometimes then cause damp problems for period homes, as they are designed to breathe. A ground source heat pump will cost £20,000 + to install and double-glazing costs about £600/window. It is estimated that the average spend will be approximately £10,000, but a late Victorian house could cost as much as £20,000 to get it up to standard.
There are some suggestions that the legislation might include a price cap for alterations (£20,000) and that listed buildings may get some exemptions. Currently, with the scrapping of the Green Homes Grant, the only government help available is a £5,000 contribution towards replacing your heating system with a greener alternative. They are expected to introduce more grants, but the details have yet to be announced.
The good news is that improving your property’s energy efficiency should increase its value. Nationwide have found there is a 1.7% premium to be paid for a ‘C’, ‘B’ or ‘A’ rated home when compared to a ‘D’ rated one and that premium jumps to 3.5% for ‘E’, ‘F’ and ‘G’ rated homes. The bad news is that the government does not appear to have thought through all the consequences of the legislation. Landlords could easily decide the costs of upgrading their properties are too much and sell up. The supply shortfall would make rents spiral upwards and, at the same time, the oversupply to the sales market could substantially depress house prices. Hopefully, the government will find a way to mitigate these issues before the new rules start kicking in in 2025.