The latest news you need to read if you're selling your home

The latest news you need to read if you're selling your home

In recent weeks the headlines have continued to focus on last month's referendum and Britain's impending exit from the European Union.

Since June 23, we've also inherited a new Prime Minister and a new Housing Minister, both of whom have stated their intention to facilitate the building of more homes.

 

When selling your home, it's always important to keep up with the latest property news. But during an uncertain period of change, it could be more crucial than ever.

 

That's why each month, here at Tepilo, we take a look at some of the biggest news stories affecting property sellers and collate them for your convenience.

 

Here's the latest round-up...

 

Could you benefit from the 'Waitrose effect'?

It's a well-publicised theory that a property with good access to local amenities is likely to be more popular with buyers.

 

Well, a recent study from Lloyds Bank has tried to put a figure on how much living close to a supermarket could add to a home's value.

 

According to the data, living near a supermarket could add an average of £22,000 to a home's sale value.

 

What's more, if it's a premium supermarket like Waitrose, the bonus could be nearer the £40,000 mark.

 

The figures show that the lowest house price premiums are found in areas with an Asda, Lidl or Aldi.

 

Whatever brand it may be, if you live close to a supermarket this is certainly something which could have a positive effect when you come to sell your home.

 

First-time buyers undeterred by Brexit

The latest figures from the National Association of Estate Agents (NAEA) show that the UK's prospective first-time buyers have not been deterred by last month's Brexit vote and are still keen to take their maiden steps on the property ladder.

 

According to the NAEA's Housing Market Report for June, in the immediate aftermath of the referendum only 28% of estate agents witnessed uncertainty from the first-time buyers group.

 

On top of this, throughout the whole month some 30% of total houses sales were made to first-time buyers – the highest figure recorded since October 2015.

 

This is good news for sellers with a property suitable for first-time buyers as it seems demand is unlikely to have been dampened in recent weeks.

 

Overall, the UK's estate agents reported an increase in demand for homes during June – with the average branch having 330 house hunters registered, up 9% from 304 in May.

 

We've taken a closer look at the NAEA's report, as well as the latest house price index from Nationwide, here.   

 

Window of opportunity for sellers with bungalows and small homes

Earlier this week, we looked at a report from the HomeOwners Alliance and YouGov which suggested that there are approximately half a million 'last-time buyers' who want to move but feel there aren't enough suitable homes to suit their needs.

 

Now, another study – this time from My Home Move – suggests that many homeowners aged over 55 are unwilling to downsize because of a lack of bungalows and small detached houses on the market.

 

These reports reinforce the idea that if you're thinking of selling one of these property types, now could be the perfect time.

 

There is a high number of prospective buyers looking for bungalows and smaller properties and so you're likely to receive a lot of interest.

 

What's more, you could be contributing towards improving the country's housing situation, as this sort of downsizing will free up larger homes for the next generation of families.

 

Buyers are browsing properties on their mobiles, on Rightmove...

A recent trading update from property portal Rightmove highlighted why it's so important that people selling their home make sure it is advertised on the UK's best-known property website.

 

Rightmove reported that it now has an 81% share of the 'mobile home mover audience'.

 

What's more, it's also vital that your property advert is mobile friendly and includes lots of high quality photos, complemented by short and snappy text.

 

Back in May, the UK's other major portal, Zoopla, reported that almost 70% of its 300 million visits were via mobile devices.

 

It seems sellers who don't embrace the mobile revolution could really be missing out...

 

That's it for now, we'll be back next month with another round-up of news stories affecting the nation's property buyers and sellers.