The latest news from Bill Tandy

Welcome to the latest edition of the Bill Tandy newsletter! It has been a great month for the property market, with an increase in sales. This month we take a look at how house-buying behaviour continues to be shaped by working from home, as this becomes the new norm in everyday life.

 

Further into our newsletter we explore how the pandemic has impacted the housing market following its ups and downs in 2020. Are you a landlord wanting to invest in property? We've put together the best university city's for buy-to-let investments. Finally, we are pleased to announce that the help-to-buy extension has been confirmed meaning you now have up until the end of March.

 

 We hope you enjoy this months edition.

Eco Friendly Homes Playing an Important Role

 

Climate change has received immense attention recently with urgent calls to reduce the contributing factors to carbon emissions, rising sea levels, and rising temperatures. The UK has committed to reduce its CO2 emissions to net zero by 2050; and this commitment cascades to all markets, including property. This commitment is a great achievement for the UK, with it being the first first-world country to pass law to such a commitment. 

Sadly, the amount of greenhouse gasses produced from heating properties has increased since 2014. Heating our homes accounts to a staggering one seventh of overall UK emissions. Our increased use of fuel can be resultant from heat escaping from properties through walls, windows and ceilings during winter. Luckily, the Government have called an end to the rise in fuel consumption and are devising a plan to battle the emissions producing more energy efficient homes. They are behind an initiative called Future Homes Standard, which is planned to be in full operation by 2025. 

Having more energy efficient homes is a great ambition for all. It will lead to lower carbon emissions, reduced energy bills, and upgraded housing. In 2025, all new build homes will have to abide by the initiative to have clean technology to heat homes instead of the current fossil fuel burned for gas boilers. The construction sector and developers are at the heart of this revolution with their designs crucial to meeting this goal. 

 
The Housing Minister, Esther McVey, said that “industry has told us some homes built using modern methods can have 80% fewer defects and heating bills up to 70% lower. Homes built using modern methods can be of higher quality, greener and built to last. I want to see a housing green revolution.” 2020 is set for an environmental transformation, with the property market a strong contributor to this.

Easter Eggstaraganza 

Saturday 4th April 

 

Follow the Woodland Trail to find the Easter Bunny who's giving everyone free chocolate.

Click here to read Easter Eggstaraganza .

 

House-buying behaviour continues to be shaped by working from home

 

With the number of vaccine jabs administered in the UK now over 10 million, we can start to imagine a future beyond the pandemic, but it's expected that the 'new norms' many of us have adopted will have lasting effects in our day-to-day lives. 

 

Working from home has gone from being an infrequent luxury to a very real reality – whether we've wanted it that way or not.

Jobs advertising remote working tripled since November 2019, going up from 26,600 to 80,700 listings in November 2020.*

With remote working now an expected part of life, the desire for a home office has skyrocketed, leading to interesting levels of activity on the market for larger properties.

 

COVID-19 has impacted the behaviour of homebuyers, as well as the priorities of employers and businesses, who now recognise that proximity to the office is no longer a prerequisite for their team members, allowing for greater flexibility on where people choose to live.

 

In a recent 'Home Moving Trends' survey, 35% of participants cited an office space as being more important since the emergence of the pandemic.**

 

The survey also showed that broadband was high up on homebuyers’ agendas, with 37% wanting enhanced Internet speed when searching for a new home.

If you're no longer restricted to a property based near your work premises, we'd like to help you.

Browse our latest properties or talk to our team about your home-buying criteria. 

 

 

 

*New Street Consulting Group

**Conducted by the Property Academy on a national level

 

Help-to-buy extension has been confirmed

 

The deadline for the current help-to-buy scheme is set to be extended by a further month – taking it to the end of March – in order to take into account delays to the sector caused by the pandemic.

 

Aimed at first-time buyers, it was during July 2020 that the practical completion deadline was initially extended from the end of December to February 28th this year.

 

This came down to matters regarding COVID-19 and how the current climate has drastically affected the property market as a whole, whereby the government were asked to rethink the date in order to benefit those looking to step onto the property ladder and move into a new build home.

At this point in time, practical completion can be done up until March 31st, however, that stands as the final deadline for legal completion.

 

The only exemption is where Homes England has previously granted extension to legal completion regarding those homes reserved before June 30th 2020, and who now have until 31st May.

Statistics that were officially published last year indicate that 278,639 new homes were bought on a help-to-buy scheme between April 2013 and June 2020.*

 

If you require further guidance or support, please don't hesitate to contact a member of our team today.

 

 

*GOV.UK

 

 

How the pandemic impacted the housing market

 

It would be somewhat of an understatement to say that the pandemic led to confusion and uncertainty for businesses last year.

 

The property market went through a lot in 2020, with huge repercussions on the way in which people now buy, sell, let and rent.

Not only did the various stages of buying and selling change, but we saw a massive U-turn in the way that the population thought about their homes, with Santander releasing data in September on record numbers of homeowners applying for loans to increase space and renovate.

 

More buyers were searching for bigger properties, including for larger family homes and increased outdoor space.

 

Something else that changed over the last 12 months – according to Editor of Luxury Daily, Alam Khan – is the way that affluent buyers are approaching the market; not only in how it will look but where they want it to be.

Prior to the pandemic, many high-powered business owners and working professionals would choose to live in their primary residence closer to the office.

 

However, many people have found remote working easier than anticipated, with companies able to save money and likely to close their physical premises completely.

It is safe to say that – overall – the pandemic has impacted the property market for the better.

 

Are you looking to move this year to better suit your working situation or lifestyle?

 

Browse our properties or speak to our local team for a valuation of your home. 

 

 

 

Where are the best universities for a buy-to-let investment?

 

Since the closing of universities and businesses last spring, the property sector has seen highs and lows across the UK.

Whilst we've undergone a period of uncertainty, recent analysis would suggest that there is still hope for investors in student accommodation, as the demand for higher education and suitable housing is as high as ever.

By looking at market data from the UK’s top 50 universities, a study has shed light on which universities are the best for landlords looking to invest.

These reports consider the average house price in the area, the current average rent and the average rental yield.

The University of Southampton took the top spot and is shown to be the UK’s best buy-to-let university at the moment.

Based in SO17, the area has an average house price of £226,489 and an average rent sitting at £1,388 PCM. As a result of this, a buy-to-let property in that area offers an average rental yield of 7.4%.

In second place is the University of Nottingham. Their NG7 postcode is home to an average rental yield of 7%.

 

For Nottingham Trent University, this is marginally lower, with the NG1 postcode offering a 6.7% yield.

Coming in at fourth is the NE1 postcode, belonging to Newcastle University with a 6.3% yield, whilst the University of Dundee takes 5th place with a 6% average rental yield.

 

The consistency of living situation and stable finances from student loans makes university students desirable tenants for any landlord looking to avoid unpredictability in 2021.

For more information about buy-to-let investments, get in touch today.

 

 

Mad Hatter's Tea

Thursday 9th April 

 

Enjoy an afternoon tea in the school holiday's with fun, craziness, singing and dancing.

Click here to read Mad Hatter's Tea.

Wedding Open Day

Sunday 19th April 

 

If you are planning a wedding for 2020 or 2021 this wedding day is a perfect chance to see dressed rooms.

Click here to read Wedding Open Day.