Why 2015 has been a fantastic year for property sellers in Essex and Kent

Recently released data from property portal Rightmove has revealed the most in-demand property hotspots in 2015. And it makes for good reading for sellers from parts of Essex and Kent that we at Balgores Property Group operate in.

Demand for property hit an all-time high in 2015, with 110 million visits to Rightmove from house-hunters per month.

Average asking prices also leapt across the country, with Kent performing particularly strongly. Of the top ten highest new seller asking price growth areas outside London, four of the top five were in Kent. This includes Gravesend, where we have a prominent branch helping customers to buy, sell, rent or let a property. The town’s average asking price rose by 20.5%, from £214,308 to £258,232.

Speedy sales would also appear to be on the increase. Across England and Wales the average time it took for a property to sell in 2015 was just 62 days. Regionally speaking, the East of England – which incorporates many of our Essex offices – performed especially well when it comes to properties being sold in double-quick time.

Purfleet and South Ockendon, both places near to our branches in Romford, Upminster, Hornchurch and Basildon, were in the top ten quickest places to sell a property outside London – 28 and 29 days respectively.

For sellers, the prospects of pushing through a quick and smooth house sale – which is something everyone is striving for – are clearly much higher if you happen to live in the East of England.

What is known as the ripple effect – where people who are priced out of buying in London and the South East move to more affordable areas nearby – has helped to increase demand in places like Essex, Kent and Hertfordshire.

With the country’s well-documented housing shortage, demand continues to massively outstrip supply. This, in turn, is pushing up asking prices and giving sellers more leverage when it comes to negotiation.

January is typically Rightmove’s busiest month, so sellers would be well-advised to bring their property to market in time to take advantage of this surge in interest.

This year, Rightmove’s New Year rush lasted a little while longer – with the portal recording its busiest month in March. There is nothing to suggest that 2016 will be any different, with the property website expected to receive record numbers of traffic and page visits over the next 12 months.

For more information about how Balgores Property Group can help sell your home, please contact us at one of our many branches.

We have operations across Essex and Kent, from Gravesend to Upminster. To find out how much your property could be worth in the current marketplace, check out our free instant online valuation tool. 

http://www.balgoresproperty.co.uk/News/13339/Why-2015-has-been-a-great-year-for-sellers.aspx

Stamp duty changes mean now could be the perfect time to sell your home

It’s been over a year since the Chancellor George Osborne introduced a reform to the stamp duty tax system, hasn’t time flown!

These changes have impacted the property industry massively. So much so that over 87% of estate agents polled by My Home Move said that this was a good move for the property industry.

In the past year, homeowners have saved £1.9bn from the stamp duty tax changes - an average saving of £1,500 per every home purchase, according to My Home Move's calculations.

This opportunity for buyers to save money will have encouraged more people to go ahead and purchase homes over the past year as they are no longer being held back by the older, structured system.

The stamp duty changes are likely to have particularly encouraged first and second-time buyers, giving them a much needed helping hand on the housing ladder.

Back in December 2014 the reform was implemented; whereby the old 'slab' system of stamp duty was abolished, and a new progressive structure was introduced.

Under the new system there will be no stamp duty paid on any property purchase under £125,000, on purchases from £125,001 to £250,000 it will be 2% and so forth. These changes mean that anyone purchasing a property under £937,500 will save money.

The prospect of saving money really has encouraged an influx of buyers looking to purchase property under £937,500. This is great news for those selling property in Essex and Kent, where estate and letting agents Balgores Property Group operate.

In these locations, the average property price stands at around the £310,000 mark, and therefore buyers are likely to have financially benefited from the changes.

The stamp duty tax system got a further shake up last month too, when the Chancellor announced that second home buyers and buy-to-let investors are to pay an extra 3% on top of other tax payments.

As these changes don't come into play until April 2016, the housing market is predicted to see a large increase in these specific buyers looking to get their property purchase done and dusted by April.

Wise sellers should be aware of these changes and capitalise on the increasing demand. Not only is December a month where demand for property increases, (you only have to have a glance at the Rightmove figures over last year's Christmas and New Year period to see the amount of interested buyers), but now it will also be a peak time for buy-to-let investors and second home buyers.

If you have a property that you are considering placing on the market in any of the Essex or Kent locations that we sell property in, such as Brentwood, Chelmsford, South Woodham Ferrers, Basildon, Romford, Hornchurch, Upminster and Gravesend, then now could be the perfect time to sell your home for the best price possible.

Here at Balgores Property Group we market your property to its fullest potential, ensuring it attracts the attention it deserves. We have a range of client testimonials to show how our professional, transparent service helps you to achieve the best possible price for your home.

Get in touch with the property experts today for further tips and advice, or alternatively, we also offer potential sellers free instant online property valuations too. 

http://www.balgoresproperty.co.uk/News/13096/Stamp-duty-changes-mean-now-could-be-the-perfect-t.aspx

How to protect your Essex & Kent rental property this winter

Winter has officially arrived. Christmas lights are being put up here, there and everywhere and the days are getting colder, but how can landlords ensure that this year's winter period is disaster-free?

Well, here at Balgores Property Group, we firmly believe that prevention is better than cure when it comes to a landlord’s rental property, so follow these tips to nip any potential problems in the bud...

Educate your tenants

Well-informed tenants are the best protection against winter rental damage, but don’t assume that they know their stuff. As their landlord it’s your responsibility to educate them, so when your tenant moves in, make sure you provide them with a detailed information pack.

This should cover how to work the boiler and inform them where the stopcock is, should the water need to be turned off. Don’t forget to leave your tenants with a couple of contact numbers should an emergency arise, too.

Check the pipes

One of the biggest winter perils for a landlord is pipes with breakages or leaks, as in the colder months these pipes can freeze, expand and burst. This can cause havoc for landlords, causing expensive water damage, and could leave the property inhabitable for the tenant. It’s therefore vital that you or your letting agent regularly check them for breakages, and fix sooner rather than later if needed.

Bleed the radiators

The last thing a tenant wants in the middle of winter is a property without working radiators, so it’s crucial that you regularly bleed them. Doing so releases any trapped air within, meaning that the heat is able to travel along the whole of the radiator, providing maximum effect. This will also warm the property more efficiently.

Tenants should also be advised to keep the heating on at a low heat if they are to holiday in the winter period, so that the pipes don’t freeze.

Clear the gutters

Autumn is a season which often leaves behind a leafy reminder, often in a rental property’s gutter. This is why it is crucial that you keep an eye on your gutters and ensure that they’re clear, as leaves can collect, leading to blocks and overflows. It could also be worth your while investing in gutter leaf guards to prevent the problem reoccurring.

Be thief aware

Winter, and particularly the festive period, is a time when your tenants may leave the property vacant for a couple of weeks. Student tenants are in plentiful supply in areas like Chelmsford and Brentwood where we let property, and are likely to travel back home Christmas. Many tenants may also choose to holiday, or visit family during the cold snaps of winter.

It’s therefore vital your rental property is not open to thieves whilst tenants are away. Fit noticeable alarms outside of the property and install motion sensors too; tenants will appreciate you going the extra mile when it comes to the protection of their home.

Void periods are also a landlord’s worst nightmare, especially in winter, but if you choose to let your property with trusted estate and letting agent Balgores Property Group we market your property in the right places to ensure void periods are minimised.

If you require further information about letting property in Kent, Essex or their surrounding locations then get in touch with our team of property experts today.

Alternatively, if you would like to discover how much rent you could obtain from a property then why not check out our handy free online valuation tool?

http://www.balgoresproperty.co.uk/News/12760/Protect-your-rental-property.aspx

Balgores Property Group wins four prestigious property awards

Balgores Property Group has just scooped four new prestigious awards, including the International Property Awards 2015 and The Negotiator Awards 2015. 

Balgores competed against the best estate and letting agents across the UK and was awarded the Best Letting Agency and Best Sales Agency in Essex, at the International Property Awards. 

Balgores was also recognised for a further two national awards including the Medium Estate Agency of the Year and Property Management Department of the Year, at the industry-leading, Negotiator Awards.

Both Awards were made at gala and presentation dinners in London and represent a significant achievement for Balgores.  The firm has had a bumper year, thanks to the expansion of its sales and lettings teams, the opening of a new offices at Gravesend, Kent; and the introduction of new staff training initiatives.

Martin Gibbon, a Fellow of the National Association of Estate Agents and Group Director of Balgores Property Group comments: “We pride ourselves on giving our clients a highly professional service, backed by a team of dedicated property professionals.  Winning these prestigious awards shows that we are on the right track. They are also fantastic accolade for the Group’s hard working and committed staff. 

“I would like to thank everyone in the Company for the great contribution they have made to our success this year and look forward to maintaining and further developing the high standard of service that we provide to our clients.”

The International Property Awards’ judging panel consisted of over 70 highly respected experts from all over the world and is chaired by three active members of the House of Lords: Lord Caithness, Lord Best and Lord Courtown.

For further information, contact your local office or visit Balgores Property Group.

Why it’s the right time to sell your Chelmsford property

It appears that Chelmsford has become somewhat of a property hotspot, recording price rises of 12% in the last twelve months.

These figures, which have been released by estate and letting agent Balgores Property Group, should come as no surprise as Chelmsford has grown leaps and bounds since it was given city status back in 2012.

The average property price in Chelmsford currently stands at a handsome £361,000, higher than the average price of an Essex home which is £347,000.

Both of these figures also surpass the national average of £294,000, meaning that even if you have an Essex property not located in Chelmsford, you’re still likely to achieve a great price when you come to sell.

Even in the past four months or so we’ve seen a marked increase in the amount of buyers looking for a Chelmsford property.

When buyers look to purchase a new property, location really is everything. Chelmsford provides a cost-effective solution for those who don’t want to live far from the capital. It is a wider commuter belt city, and this is the primary reason why buyers are heading here in their droves.

Chelmsford residents are able to travel to London Liverpool Street in just 30 minutes, where any other London location is easily accessible. Additionally, even though there has been a marked increase in property prices here in the last year, property in Chelmsford is still decidedly cheaper than in many locations in the capital.

This area is therefore ideal for young couples or professionals who wish to lay down some roots close to work without having to fork out an arm and a leg.

Our director, Martin Gibbon, discussed this impressive property price increase in the city and commented that: “this, coupled with the fact that mortgage rates are still low, means that people are more likely to pay the asking price, or a higher price, to secure their dream home. This, in turn, is driving up property values.”

This increase in demand for property in and around Chelmsford isn’t just from young professionals, either. The area has wide-ranging appeal and in recent years the city has witnessed an influx of families, thanks to its selection of brilliant schools and numerous open spaces.

Chelmsford certainly isn’t an area which is sitting back and relaxing either after witnessing significant increases in house price values. Instead, different projects further improving infrastructure in the area are being put in place. One of the key ways which Chelmsford is looking to develop as a city is through updating its shopping and leisure facilities.

An exciting Bond Street retail development is coming to fruition, and looks likely to be finished by the end of 2016. There will be a selection of 32 shops, including a three-storey John Lewis, five popular restaurants and a cinema in the city. This is set to attract more residents and visitors to the area, while also providing more jobs.

If that wasn’t enough to entice buyers to the area, there is also a new mega-housing development which will contain a range of family houses located adjacent to parkland and popular schools.

Chelmsford’s versatility of appeal is what makes the area so exciting, this Essex city has a bright future ahead of it, and is only set to become even more popular for property buyers.

If you are considering putting your Chelmsford property up for sale, or any other property in Essex, then why not contact the property experts at Balgores Property Group today?

We’re highly experienced at selling property and know what the modern buyer is looking for.

Alternatively, if you would like to discover how much your property could be worth in this fast-paced housing market, then enter your details and get a free, online property valuation. 

http://www.balgoresproperty.co.uk/News/12496/Sell-your-Chelmsford-home-now.aspx

New Balgores team aiming high

Balgores Chelmsford has expanded its Sales and Lettings Teams, with three new appointments.

Brian Clover has renewed his association with Group MD, Martin Gibbon and joins Balgores as Director.  With 27 years’ experience in the estate agency business, Brian has extensive knowledge of the Chelmsford property market and a reputation for achieving outstanding results.

Balgores is pleased to introduce James Pudney, as Executive Branch Manager, with 19 years’ experience in the industry. James is looking forward to the challenge of working in the City branch of the Group and to continuing his long standing business relationship with Brian.

Balgores would also like to welcome Max Fordham, who has been promoted after a very successful period at the Upminster Branch where he has won the prestigious ‘Lettings Office of the Year’ award for two consecutive years. 

Martin Gibbon FNAEA, Group Director, comments: “I am delighted to welcome three key new members of staff to our Chelmsford City Branch.  These new appointments will bring invaluable skills, experience and knowledge to our Sales and Lettings Team and enable us to achieve an all-time high level of service to our customers.”

Should you be interested in selling or letting your property, please do not hesitate to call Balgores on 01245 492 424.  For further information, please visit www.balgoresproperty.co.uk.

http://www.balgoresproperty.co.uk/News/12054/New-Balgores-team-aiming-high.aspx

Why landlords should invest in rental property in Essex

Investing in property is no easy task, with locations and figures being thrown around almost every day. But, the latest Rental Trends Tracker from Rightmove contained some interesting information for those considering investing in property.

For prospective property investors things seem to be shifting, and it appears there’s a new housing hotspot in town. It has been revealed that the east of England is taking the crown from the capital, generating one of the highest returns on investment across the UK for landlords.

Among the investment locations that everyone is talking about right now are Brentwood, Purfleet and Grays; all Essex towns which estate and letting agent Balgores Property Group operate in.

For some, these may seem unlikely or unexpected investor hotspots, but here at Balgores Property Group we have seen these locations rise in popularity over the past couple of years. Landlords are missing a trick if they don’t choose to invest in the East, as the annual rental growth in these areas averages at 6.4%, the highest growth in any single UK region. London pales into significance in comparison, with growth of only 0.2%.

The key things that landlords should look for when making an investment is the specific location’s annual rental growth, which as we’ve explained is consistently increasing in the East. It’s also vital that tenant demand is strong.

Void periods are a landlord’s worst nightmare, so it’s vital you choose to invest in an area popular with renters. Essex is the perfect region for investment right now, as its towns have recently witnessed an influx of new residents looking to rent in the area.

Essex towns such as Brentwood have been named as investor hotspots, as they provide an attractive place to rent. Brentwood in particular is a pretty solid location to invest in, due to its close proximity to the capital. Commuters are able to travel into Central London from here in just over 20 minutes.

This intimate connection to the capital is enticing many young professionals and commuters to the area -  who are likely to have been priced out of the Central London rental spots.

Not only are the areas more affordable for tenants, but because property can still be purchased here fairly reasonably, it means that landlords won’t have to fork out for an expensive property when initially investing.

Here at Balgores Property Group, we believe it’s our job to ensure landlord’s are aware of the best places to invest, and our team have years of experience in ensuring our landlord clients' investments are a success through our excellent property management service.

We know how to ensure landlords get great returns; our previous blog demonstrates that we know how to ensure your investment is a success.

If you would like further information about investing and letting property in and around Essex, or anything else property related, then don’t hesitate to get in touch with our team of property experts today.

Alternatively, if you’d like to find out how much rent you could generate from your property, why not try our free, instant rental valuation tool

http://www.balgoresproperty.co.uk/News/12001/Essex-named-top-rental-investment-location.aspx

What does the modern property buyer really want?

British homeowners much prefer the way we live now, according to a survey carried out by Anglian Home Improvements.

It might have been known as the Swinging Sixties – with Beatlemania, a relaxation of social taboos and England’s only World Cup win – but people aren’t so keen nowadays on the multi-coloured bathroom suites, crazy paving and pebble dashing that characterised homes in that era.

In fact, what was once seen as the height of sophistication now tops the list for the home improvement us Brits most dislike.

Homeowners in the present day favour state-of-the-art entertainment zones (44% of people), wet rooms (43% of people) and bi-fold doors or conservatories (58% of people). These latter home improvements often help to improve the flow between outdoor and indoor, especially if a house has significant garden space.

Other popular home improvements include a separate dining room (56%), underfloor heating (35%) and decking (40%).

The survey, which spoke to more than 2,000 households, analysed how tastes and the way people used their homes had changed in the past 50 years.

According to the majority of respondents (70%), the most positive home improvement during this time has been central heating, followed in second place by indoor toilets (51%). Hot running water (43%) was in third place, closely followed by better insulated windows in fourth (41%). All of this suggests, of course, that warmth and comfort are still major priorities for the vast majority of British homeowners.

The capacity to work from home thanks to technological advances over the last 15 or so years had, according to 24% of those surveyed, been a significant influence on the way people use their homes. Where once cooking spaces and washing areas were seen as the places requiring improvement, now homeowners are focusing principally on improving their entertaining space.

Those surveyed were also asked what motivates them to make improvements to their homes, with the majority (47%) stating that it was to add monetary value to their home, while 30% said it was to save costs and 28% said it worked out cheaper than moving house.  

This research has now given us a little bit more insight into what British buyers are after. If, as a seller, your home contains an entertainment centre, a wet room or a conservatory, shine a light on this when buyers come to view your home. Space in which to entertain and socialise is also becoming increasingly popular, so if your home provides this in abundance make sure it’s a major part of your sales pitch.

For more information about how Balgores Property Group can help sell your home, please contact us at one of our many branches. We have operations across Essex and Kent, from Gravesend to Upminster. To find out how much your property could be worth in the current marketplace, check out our free instant online valuation tool.   

http://www.balgoresproperty.co.uk/News/11821/Balgores-Property-Group.aspx 

How to become a successful landlord

Some people assume that becoming a landlord is a simple task, generating a generous income without too much effort.

However, there are many things to think of, and whether you’re considering becoming a landlord for the first time, or you’re a seasoned investor looking to increase the size of your buy-to-let portfolio, there are tips and tricks of the trade that are useful to know in order to make a success of your time as a landlord.

Five star property

Having a property which is in tip-top condition is arguably one of the most important things to contribute towards becoming a successful landlord. No prospective tenants will want to live in a grubby, cluttered property, so ensure it’s presented to the best of its ability before a viewing and before the beginning of a tenancy. Plus, giving your property a subtle makeover with a neutral décor could add value to its monthly rent. 

Unfortunately some landlords fall at the first hurdle, as many will ensure their property is gleaming for a viewing, but won’t be on-hand to arrange any property maintenance, should the property require it once the tenancy is under way.

Tenants won’t want to wait around for jobs to be completed, therefore it’s vital that as soon as maintenance issues arise, such as a faulty boiler or a broken freezer, they want to feel reassured that it will be sorted as quick as possible. Tenants appreciate a quick response, and keeping on top of things will contribute towards keeping them happy.

Be a friendly face

Tenants ultimately want a landlord or letting agent to be someone they can come to, should there be a problem, so it’s important that right from the get-go, you’re an approachable point of contact. The little things really do make a difference to tenants, so we advise you send a moving in card with your contact details.

Some landlords even try to sweeten their tenants further with a gift! Ultimately, your aim as a landlord is to generate a regular income and minimise void periods, so these little things could go some way towards convincing a tenant to renew their tenancy.

However, don’t take this to the other extreme and constantly pop around to visit the property. Tenants won’t appreciate a landlord who turns up unannounced, so ensure you notify your tenants 48 hours before visiting the property.

Remain the right side of the law

Being a landlord, it’s vital that you stay abreast of the legislation concerning your rental property. Failing to stick to the guidelines could lead to a hefty fine from the authorities. For example, it’s vital that you as a landlord put tenant’s safety first and install and maintain smoke and carbon monoxide detectors, especially before October 1^st.

Get in the experts

Being a landlord can be a time-consuming and arduous task, but not if you employ a team of property experts to help manage your rental property. Here at Balgores Property Group, we’re an Essex-based estate and lettings agency, with a whole raft of trained property specialists who possess the expertise to look after your investment.

Not only do we have bags full of property knowledge, but we also ensure your property is seen in all the right places. We market your property on the leading property portals Rightmove and Zoopla, ensuring maximum exposure in finding you the best possible tenants.

Don’t believe us? Don’t take our word for it, just check out what others thought of our service on our testimonials page. Alternatively, if you would like more information on the services we offer, then contact us at one of our many branches. 

http://www.balgoresproperty.co.uk/News/7238/Balgores-Property-Group.aspx

What the length of a viewing could mean for your property sale price

An interesting news story caught our eye this week. Research carried out by Which? has found that older buyers are more likely to take their time when it comes to a house viewing, with those who spend more time viewing also likely to pay less. In other words, the longer the viewing, the lower the sale price.

The poll of nearly 2,000 questioned members of the public about their experiences of buying and selling property over the past five years.

Incredibly, 5% of UK buyers admitted to having purchased without even viewing the property first; a figure that jumps to 9% for Scottish buyers. Unsurprisingly, most people like to have a second look before they decide – 43% said they viewed the last home they bought twice, while 21% viewed it three times.

Generally speaking, younger and first-time buyers spend less time than older buyers on a viewing. They are less inclined to check for things like damp and cracks in the wall.

The survey found that 52% of buyers who spent under 10 minutes viewing their future home paid the full asking price or more. However, this usually happened in locations where the local market was very competitive – so, in order to not miss out, the buyer was willing to match the asking price or above.

By contrast, 71% buyers who spent more than an hour-and-a-half viewing their future home paid below the asking price for it.

At Balgores Property Group we will always do our utmost to get you the best possible price for your home, no matter how long the viewings last! We have branches in a number of locations across Essex, East London and Kent, from Basildon and Brentwood to Upminster, Hornchurch and Gravesend.

Although our branches all offer something slightly different, our team pride themselves on excellent customer service and the 'personal touch' to make the selling or letting experience as smooth as possible.

As well as expertise in sales and lettings, we also help out with the conveyancing and legal aspects of a property sale. We have a national network which includes over 70 regional solicitors specialising in conveyancing and the legalities of the property market. In addition, there is Balgores Network Auctions, the place to head for a quick, easy and guaranteed sale.

If that wasn’t enough, we also have our own financial services arm. This is where we give our customers expert advice on all the latest goings-on in the mortgage world and help our clients get the mortgage that most suits their needs. 

For more information about the services we offer, please contact us at one of our numerous branches. If you don’t want to just take our word for it, check out our testimonials page to see what our customers say about us.

Research has shown that the majority of customers choose their agent based on trust. As such, we aim to offer a unique and transparent service that keeps our clients comfortable and reassured throughout. So, whether it’s glossy marketing materials, floor plans, virtual tours or face-to-face meetings, you can rest assured that we’re doing all we can to sell or let your home.

http://www.balgoresproperty.co.uk/News/11635/Balgores-Property-Group.aspx