The London Connection

At Hus, we set out to be a modern, different type of agency. From the start, we wanted to provide something a bit different, but also to present properties in their best light and to help customers achieve the price they wanted.

We could see that most people were using one of the portals, say Zoopla or RightMove, to do their property research, especially if they were looking from out of county. So we paid particular attention to getting our website right and making sure our listings could be easily found on the portals.

A London office?

But we don’t have a London office and sometimes we are asked why not, particularly when there are some other local agents who do. The truth as we see it is that the modern estate agency has changed things for everyone and the internet has made this possible.

Technology is enabling agents to deliver meaningful information regardless of location.

In the past customers needed an office in London because they wanted a real clue of what to find after an 8-hour drive! So the best way to gather information was for a local agent in London to make a connection to their local West Country branch.

The traditionalist agents that persist with this old fashioned London connection approach still have a strong presence in the west country. But do they need it? Why would someone who sold a house in Chelsea get on a tube to Knightsbridge and ask someone about buying a house in Cornwall?

Changing market

The market is changing and agents need to change along with it.  Elaborate details might impress, but we find our discerning buyers are short on time and appreciate our clear website, and concise listings that are clear and easy to navigate.

Having a link with a London estate agent is exhausted now because the searches that come through organically and online are driven by images and short, succinct information. So the need for agents to understand this technology and how it works is key to success.

An interesting take on it is a fact that we do not have a London branch but we sell mid-range houses and 63% of those mid-range properties sold to out of county buyers. These are not second home purchases it is migration and people are doing serious research before they buy.

So now why would an agency put money into branches scattered around the country, when the money could be better spent SEO and all the things that keep your agency and the properties you sell at the top of search engines?

Hus Property Eye 2016 Part 2 – Market Update and Aerial Photography

As anticipated from last month’s property eye review the market continues to be buoyant into 2016. Hus agreed record numbers of sales in the first few weeks of 2016 on properties ranging from £167,500 to £950,000 but mainly in the £300,000 and £700,000 bracket.

 

What can this be attributed to? For the price brackets in and around £150,000 to £250,000 many properties have gone to investment buyers and many have sold with a view to completion by April. As we predicted last month, this is likely because of the stamp duty change. In addition to this, midrange property sales have also been buoyant. But could the midrange properties be attributed to something else?

 

At Hus, we understand that no one knows the houses you are selling as well as you do. We realise that sometimes the features that make it special are never seen by the next potential buyer because the kerb appeal was not enough to get them to the front door!

 

Some properties are just difficult to photograph even with a wide angled lens, and some properties need to be pictured in their surroundings to show them from a different perspective; even if from just 30 feet up. 

 

Others properties benefit from a point of view showing not just the main dwelling, but also the outbuildings, land and surrounding location; and that is where our camera drone comes in.

 

We offer free aerial photography to enable your property to stand out from the crowd on the property portals (Rightmove, Zoopla etc.) and the local press, earning you more viewings from both local and out-of-county buyers. Potentially, this will lead to a sale in a faster time and at a higher price than if the details did not include the aerial shots.

.

This lateral thinking approach has not only facilitated sales for fresh properties to the market to achieve excellent prices; but also properties that may have sat stagnant with other agents for a while and just needed a fresh approach.

 

Now is it the market or our approach? Probably partly both but it certainly doesn’t hurt to choose an agent with a proven track record of marketing properties to achieve their full potential.

 

We will update you further on progress in next month’s Hus Property Eye and also provide an interesting take on the London Connection; fact or fiction?

Hus Property Eye - Stamp Duty

Changes to stamp duty thresholds were announced in the Spending Review and Autumn Statement in September - but what do they mean if you're planning to buy a property in the next 12 weeks? The hike has added 3 percentage points to the stamp duty paid by those who already own property, or investors, but there is no change if you are simply moving your place of residence. 

 

The changes come into effect from April 2016 and, as a result the tax on buy-to-let or second properties will jump. If you are investing in a £250,000 house, for example, the stamp duty bill will be an extra £7,500.

 

In the previous change back in November 2014, stamp duty was reduced and this had a phenomenal effect on the 2015 market: It became far cheaper to buy a house over the £250,000 threshold. Across Cornwall we saw valuations for many local 'mid range' houses jump £15,000-£20,000 and the market has been strong across our region.

 

There is no doubt that the November 2014 improved sale prices, however looking forward to 2016, houses in this price bracket will only continue to be affordable to families if interest rates remain low.

 

The April 2016 stamp duty change means something very different depending on the date of sale. Pre-April is a good time to buy if you're an investor because completing on a purchase before April will mean investors avoid the extra 3% tax for second home owners and investors. Potentially resulting in a busy period for those selling houses that may appeal to this type of purchaser.

 

First time buyers however may find that from April onwards they are in a better position to negotiate and secure a purchase if the number of investors etc. decreases after the stamp duty increase. This group of purchasers might have missed out on properties last year as sellers may not have considered them as good a proposition as an investment buyer if both were bidding on the same property. Once the stamp duty change has come into effect, first time buyers will potentially be in a better position, not least if interest rates remain low.

 

In 2015 prices for properties in Truro and for mid-range properties across Cornwall were pushed up. There was a higher influx of buyers from the South East and Home Counties migrating to Cornwall than we have seen in recent years. But interestingly these buyers were purchasing family homes, not so much investment properties.

 

 

In Hus’s opinion the new year will be buoyant and the trend of achieving full figures for mid range properties will continue; whilst first time buyers will have better prospects of purchasing at the lower end of the market as investors will be more cautious due to the increased stamp duty bill they will face.

Web Watch #1

A Selection of trending stories from around the web and across social networks:

* Young homeowners worried about debt: The Daily Telegraph highlights a report from the Homeowners Alliance which found fears of a rise in interest rates is causing concern amongst younger home owners.  Many have only been able to buy their homes with help such as loans from family, Help to Buy schemes and low interest rates. The Telegraph also comments that the rise in house prices is causing young people  to resort to ‘desperate measures” to get on the housing ladder.

*  Homeowners typically need £1,200 to cover mortgage and household bills:  In some helpful advice from Zoopla, buyers are encouraged to think about their monthly household budget.  Research from the Money Advice Service shows that the average household bill consists of £749/month on the mortgage and £467/month on other bills. The new rules on mortgage lending introduced in April focus on the affordability of taking on a mortgage, particularly in regard to foreseeable events such as having a baby or a rise in interest rates.  This means that mortgage applications are taking longer due to the need to provide evidence of other financial commitments.

* Demand for homes is on the up in Devon and Cornwall:  Finally a local story which appeared in May’s Western Morning News reporting that, according to a recent survey of estate agents, demand for property is on the up.  The study also found that estate agents also expected prices to rise and that confidence has returned to the South West housing market.  However, Cornish sellers were warned that being realistic about the value of their homes was still important.

For all the latest property news follow Hus on Twitter, Google+, Pinterest or Facebook 

Fancy living the Good Life in Cornwall? Here's how.....

If there’s one thing that defines a Cornish summer, it is the thought of a cream tea with lashings of fresh clotted cream and a large bowl of ripe local strawberries to tuck into.  If your cream tea was enjoyed near the Lizard Peninsula, it may well be that those strawberries were grown at Grange Farm

Fernly and Maralyn Curnow have lived near Gweek all of their lives and decided, in 1992, to build a home and plant a few strawberries on the land.  With a background in agriculture and a love of the land, Fernly was perfectly placed to start his enterprise. Over the years, they have run a B&B, served cream teas on the lawn and established a local restaurant. 

Their hard work and entrepreneurial spirit has paid off and today they run a successful business which sells strawberries, raspberries and gooseberries to a wholesaler for distribution in local shops. “We have a number of polytunnels which keeps everything dry and a watering system which saves us watering by hand” says Maralyn.  Despite the poor weather at the beginning of this year, they are looking at a bumper crop this season “I’ve got so many raspberries, I’m not sure how I’m going to pick them all!” says Fernly.  “We planted apple, plum and pear trees recently and last year, Fernly made 54 bottles of wine from our own vines” continues Maralyn

Now the Curnow’s would like to enjoy the fruits of their labours and spend more time with their family. “It’s time to move on and hand the business over to someone else” Maralyn explained “We’ve enjoyed it so much and met many lovely, friendly people over the years” Fernly concludes “We are so grateful to everyone who has supported us and we want to say a big ‘Thank you’.  However I’m looking forward to having a bit more time with my grandchildren”.  They have joined the National Trust and are relishing the prospect of spending more time visiting gardens and on Coverack Beach, perhaps even enjoying a cream tea.

How best to find a solution for Radon

You may have heard of radon gas and wondered what it is, how it might affect your home and what you can do about it.  Here’s a quick guide and some good news about how you can deal with high levels of the gas if necessary.

Radon is a naturally occurring radioactive gas which comes from granite and has no taste or smell.  All of us are exposed to it, however, some areas of the UK with most granite, such as Scotland, Wales and Cornwall, have higher levels of the gas.

Granite in Cornwall

Radon circulating in the air poses little risk to us, it’s only when it gets trapped in our homes that the risk rises.  As we breath in, the radioactive elements enter our lungs and start to decay which, over time, can lead to tissue damage and in some cases, lung cancer.  The risk is greater if your lungs are already damaged from smoking.  It’s therefore, important to reduce the levels of radon coming into our homes.

Testing is easy and under £50.  You will be sent two small plastic detectors which you leave in your home for 3 months and then send away for evaluation.  Levels from house to house vary and it may be that your levels are low and, therefore, nothing to worry about.  

Fortunately, there are quite a few solutions available if you find high levels in your house. It may be that you need a sump under the floor boards which sucks any radon away before it enters your home, or a positive ventilation fan which blows air from your loft changing the pressure in your house.  If you have a suspended floor, natural ventilation may well be all you need, or you may need mechanical underfloor ventilation.  

If you were buying a house that had a high level of radon, your mortgage company may consider a retention until the right solution is found.  However, as you can see, testing is easy and there are many solutions which can fix the problem, so it shouldn’t stop your sale from going through. Have a chat with us and we can advise you on the best course of action.

Shelter Inspired Art

Here at Hus, we are supporting Shelterbox this year and we are pleased to promote the work of artist, Lindsey Morgan-Lundie who is using her work to highlight the plight of Syrian refugees through her art installation.

Lindsey Morgan-Lundie

While on a mentoring course at Newlyn School of Art with nine other contemporary Cornish Artists, printmaker, Lindsey Morgan-Lundie was struck by a picture of a refugee child standing outside a tent in Syria. ‘I was exploring the idea of portraiture, when I came across a haunting image of a girl’s face’ she explained.  Lindsey was moved to find out more about refugees and set off on a journey of exploration that led to an art installation at the PZ Gallery in Penzance between 7-11 June 2014.  

Lindsey discovered a love of printing during her Fine Art degree in Falmouth in 2007.  Since graduating she has exhibited her prints on many occasions and is currently the resident printmaker at Cornwall College in Camborne, where she teaches students various printing techniques.  She was thrilled to be selected to go on the first mentoring course at Newlyn, where she works alongside an eclectic mix of other local artists.  It was here that she started to consider the themes of shelter, relationship and community.

The final show will feature end of year work from all of the artists being mentored at Newlyn, and will include paintings, films and installations.  Lindsey’s own installation will feature multiple small tents, made using wax. Each one unique and fragile, exploring our inherent need for communication and relationship.

‘When disasters happen, communities often pull together,’ Lindsey said ‘Its been interesting to explore how we crave relationship and don’t like the feeling of isolation’.  Each tiny wax tent, will be individually printed with an varied mix of near Eastern patterns, original drawings and pictures of nature.  ‘I love the quality and fragility of wax and the fact  that it allows me to create layers of meaning within the work’ Lindsey explained.

Entry to the PZ Gallery is free and events during the exhibition are being planned, so keep an eye on the Newlyn School of Art website for more details.

Newlyn School of Art Mentoring Course Final Show
PZ Gallery
7 Coinage Street
Penzance
TR18 4AY

PZ Gallery

More information from 

Newlyn Arts School

Open Saturday 7th June 11am
Private View June 7th 6-9pm

Open Sunday to Wednesday 11-6pm each day