Learn the latest property news with Hunters Horncastle

Could your rental property deliver a higher yield in 2022?

 

According to recent data, the combination of high tenant demand and low numbers of available properties has caused average UK rents to rise at the fastest rate ever recorded. *

 

Rental demand has been reported as 32% higher, while the number of available rental properties is 51% lower than this time last year.

 

Flats have seen the highest increase in competition compared to last year (+132%), followed by terraced houses (+40%) and semi-detached homes (+30%).

 

Data collected from a popular property portal suggests that the average rental yield across the UK is now 5.5%, which is the highest since 2016. Industry experts are hopeful that rents will increase further this year, with a well-known portal director explaining, "Tenant demand continues to be high entering the new year, meaning the imbalance between supply and demand is set to continue until there is more property choice for tenants, which has led to our prediction of a further 5% increase in average asking rents in 2022."

 

To find out if you could increase the rental income from your property, get in touch today to book a free lettings valuation.

 

*Rightmove

 

One in five could be looking to buy this year

 

If you’re thinking of selling your home, you’ll be pleased to know that home buyer demand was reportedly up 35% at the end of January, compared to the same time last year. *

 

According to figures published on the Property Reporter website, in February, an independent survey of over 2,000 adults in the UK found that 18% intend to purchase a new home this year, increasing to 34% when looking specifically at respondents aged 18-34. *

 

The pandemic has influenced the features people look for when home hunting. The move to remote working means 43% of those who said in the survey that they were planning to buy a property this year, will be looking to buy in a different area to where they currently live, and the ongoing ‘race for space’ means competition remains high for homes with gardens and home offices. *

 

If you’re thinking of listing your home for sale while demand is high, get in touch today for a free, no-obligation valuation.

 

*Property Reporter

 

How to add a homely touch, without risking your deposit

 

With spring just around the corner, you may be thinking about redecorating your rental property. Here’s how to decorate your home without making permanent changes that could put your deposit at risk.

 

You can never have too many houseplants

 

Houseplants provide a calming and relaxing feel to a home. But how can you use houseplants in a rented home? Try incorporating a ficus tree or rubber tree – they can give height to bare corners and can be placed behind a sofa. Or, you can even add a cactus to keep your home looking sharp.

 

Transform walls

 

Adding a colour of your choice to your rented home is a great way to make it feel a little more homely. Removable wallpaper is a perfect temporary wall covering that can elevate your space. There are many stylish designs available to buy, with a 'peel and stick' action that allows the paper to be removed and repositioned as often as you wish. 

 

Use multifunctional furniture

 

Multifunctional furniture can save money, space, and can also help with converting a room into different functions. Invest in smart, aesthetically pleasing furniture to adapt to your needs. If you're short on space, consider furniture that can be stacked, folded, or stored conveniently.

 

Make the most of outdoor spaces

 

As we move into spring, many of us will be spending more time outside. Whether you have a balcony, a small terrace, or a back garden, make the most of your outdoor space with a few simple touches. Outdoor rugs are a great way to make your space more comfortable, colourful, and inviting. Invest in foldable chairs or outdoor floor cushions for extra seating.

 

Looking for advice on how to make your property feel like home? Contact our team.

 

Number of homes on the market increases

 

The industry saw the busiest ever start to a year, and February proved to be even busier, with buyers and sellers determined to move ahead of the spring season.

 

The good news is, as valuations turn into instructions, more and more properties will come onto the market, giving buyers some fresh choice. In January, the seaside town of Bexhill-on-Sea in East Sussex, 88% more sellers put their homes on the market than in January 2021. The borough of High Peak in Derbyshire came in at a close second, with an 82% year-on-year increase in new sellers coming to the market, followed by the city of Chelmsford in Essex, with a 58% rise in new properties for sale versus the same time last year. *

 

Tim Bannister, director of a well-known property portal, advises: "The market has picked up pace and it’s a really encouraging sign to see more properties starting to come to market for sale. To put yourself in the best possible position, you should become a ‘power-buyer’ by making sure your current home is on the market, or preferably sold subject to contract first, before starting the search for your new home."

 

Find out how much your home is worth here, or get in touch today to book your free, no-obligation valuation.

 

*Property Reporter