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Opinion

Is your agent doing it right?

Money laundering supervision for estate agency or letting agency businesses

Relocation agents & property finders must register with the HMRC for anti-money laundering supervision.

Here at Vantage, we carry out work in our business that is defined as estate agency and letting agency activity. We……….

  • Act on instructions from clients who want to buy property / land in the UK, and introduce our clients to third parties who want to sell property / land.
  • Act to secure the purchase of property / land, after such an introduction.

Activities that we undertake include:

  • sending out property details and arranging viewings
  • offering personal advice to potential buyers and tenants
  • answering questions from potential buyers, sellers, landlords and tenants
  • passing on details to customers
  • arranging energy performance certificates
  • providing a property valuation
  • providing a plan of a property and taking photographs

So, here at Vantage, we’re proud to say that we are registered. Always check to see if your agent is following the rules and protecting your interests.

https://www.gov.uk/guidance/registration-guide-for-estate-agency-businesses

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Market Commentary, News, Opinion

Strong demand for coastal and country retreats

With the working patterns of so many people having been disrupted over the last 12 months and with little likelihood of them returning to the old normal any time soon, there appears to be little doubt that this has fuelled a real interest in the purchase of second homes outside of the UK’s cities. 

Millions of people, having been forced to work from home, have realised that they are perfectly able to fulfil their job roles from their new environment, be that a back bedroom, the dining table or a desk in the corner of the room.

Working from home

Along with this, companies have also realised that they can save money by reducing the need for all employees to be in the workplace at the same time.

For every person that clearly relishes the reality of working from home full time and conducting their working lives through Zoom or Teams, there is likely to be someone that still feels the need to be in an office environment for some of the week, at least. That overwhelming desire to be human and interact with other humans is so strong.

So, welcome to the future world of hybrid working. Time in the office and time at home. Admittedly it’s already been happening for some time, but the pandemic has fast tracked this evolution.

As the relentless march towards the future and the pace of change gets faster all the time, the world seems to change in front of our eyes. Hybrid cars were first introduced in the UK back in 2010 and these days they are simply seen as part of the normal mix of options when it comes to buying a car. They are commonplace. Hybrid working is likely, also, to become commonplace.

This is just the beginning.

A by-product of this shift to increased home working is driving significant interest in second home purchases across the UK. As more people than ever before realise that they are free to work from any location they choose (as long as they have excellent WiFi!), they are also waking up to the fact that maybe, just maybe, they can pursue a more desirable lifestyle at the same time, at least for some of the week.

Typically, the most popular locations tend to be by the coast or in the countryside, providing an antidote and a retreat from the relentless bustle of their normal daily lives in the cities. Let’s add to this the likelihood that international travel restrictions may be the norm for some time, people are seeing that their second home in the UK could also be used for those badly needed holidays.

According to research by Hamptons, the most popular place to purchase a second home in the UK is the iconic seaside town of Scarborough in North Yorkshire. Buyers there are looking for a location close to both the beach and the beautiful countryside of the North York Moors, Vale of Pickering and the Yorkshire Wolds. 

So, if you are searching for that permanent forever home or perfect bolt-hole second home in Scarborough, Whitby or indeed anywhere in North or East Yorkshire, we can help you find your ideal property. To find out how we can help you, get in touch with Vantage Property Finders at www.vantagepropertyfinders.co.uk or call on 01430 850008.

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Market Commentary

Continued high demand sees properties still selling very quickly, in many parts of the UK

Despite the devastating economic impact of Covid- 19 during 2020, research by Zoopla has found that there are at least 20 areas in the UK where properties are going under offer in less than 30 days. The study also discovered that 3 bedroom semi-detached houses are the fastest to sell.

Topping the charts is Falkirk in Scotland, where the average time for a property to sell is just 20 days. Waltham Forest in East London comes in second, with the average time being 24 days. Interestingly, the majority of the rest of the top ten are areas in the Midlands and North of England. Activity in areas such as Sheffield, Salford and Redditch is high and properties are selling fast.

The first Covid-19 lockdown led to considerable pent up demand and consequently a surge in activity once the property market re-opened. Buyers are also taking advantage of low interest rates, and the stamp duty holiday deadline of 31st March 2021 means that many buyers are keen to get deals completed before this ends. Savings of up to £15,000 in stamp duty are a big motivator and are clearly speeding up buyers’ decisions.

RankLocal AuthorityRegionDays on the market*
1FalkirkScotland20
2Waltham ForestLondon24
3BridgendWales24
4LiverpoolNorth West25
5SalfordNorth West26
6SheffieldYorkshire and the Humber27
7RedditchWest Midlands27
8BromsgroveWest Midlands28
9WalsallWest Midlands28
10Stoke-on-TrentWest Midlands28
11LeedsYorkshire and the Humber28
12BristolSouth West29
13DartfordSouth East30
14NottinghamEast Midlands30
15OldhamNorth West31
16GedlingEast Midlands31
17South StaffordshireWest Midlands31
18MansfieldEast Midlands31
19TraffordNorth West31
20ManchesterNorth West31

Source – Zoopla Nov 2020

Market Commentary, Opinion

Where high net worth buyers can grab a discount in London

Certain areas of prime London are throwing up opportunities for high net worth buyers to grab a relative bargain in the current market conditions.

A significant number of properties priced above £3m have reduced their asking prices. Many foreign buyers, in particular, are looking to get a good deal as the combination of Brexit uncertainty and the current pandemic continues to see a lot of vendors reduce their asking prices, in order to secure a sale.

The weak pound and current stamp duty savings on offer, also contribute to making the prime London market currently a very attractive proposition says research from Enness Global https://www.propertywire.com/news/where-high-net-worth-buyers-can-grab-a-bargain-in-london/

So knowing where’s hot and where’s not, is always crucial in understanding if you are getting a genuinely good deal, but not always easy, particularly for those unfamiliar with the London market and its nuances.

So for those looking to live or invest in London, the window of opportunity is open. Those that use a professional adviser such as Vantage Property Finders will place themselves at the front of the queue for the best opportunities.

Get in touch at Vantage Property Finders.

Market Commentary, Opinion

Why choosing York to buy a property really is the smart thing to do

It’s clear that York is a perfect location for home buyers and buy-to-let investors, alike. The city is a desirable and affordable place to live and to invest in property. It has strong, growing industries in finance, I.T., tourism, health and education and sciences and the city is jam packed with history, culture and beautiful architecture.

Centrally located between the two capital cities of London and Edinburgh, it also has excellent transport links throughout the rest of the country. It’s therefore no surprise that demand in the City of York continues at a pace. Having the fastest property market in Yorkshire, also means that York remains the easiest location in Yorkshire to sell a property. Homes, on average, are on the market for just 70 days.

Anywhere within the city ring road can provide good opportunities to live and invest. Areas such as the South Bank and Holgate have good properties with easy access to the city centre and York Railway Station, so good for those working within York and commuting elsewhere. Areas near York St John University and York Hospital, such as Clifton and Heworth are popular with Academics and Doctors.

There is currently significant demand for 2 bedroom properties in the city, renting between £700 – £900 pcm. These sorts of properties will appeal to a wide variety of tenants, such as professional sharers, small families, academics and doctors. With such a variety of potential professional tenants needing somewhere to live and ongoing low mortgage interest rates, this is still a very good time to invest in property in the city. Overall the market is thriving!

Lettings and sales agents continue to report high levels of enquiries and competition for the best properties. It therefore makes sense that if you are serious about purchasing a property, using the services of a property finder like Vantage Property Finders, working in your best interests, it will give you the upper hand when competing for the best properties.

With properties in the city selling well, house prices steadily increasing across all areas and the city seemingly set for steady growth, whether you want to live or invest in York, we advise you not to hang around. Get in touch at Vantage Property Finders.

Market Commentary, News, Tips

Are you an overseas investor looking to save £’000s on your next London property purchase?

Are you an overseas investor keen to expand your London property portfolio at a discount? Well, this is a great time to potentially make large savings, what with the recently announced 9 month Stamp Duty Land Tax (SDLT) holiday, likely to drive up prime property transactions in the capital.  https://www.propertyreporter.co.uk/property/the-stamp-duty-holiday-could-unlock-demand-for-pcl-property.html?SRC=MC

To see how we can help you, please get in touch https://vantagepropertyfinders.co.uk/contact-us/

Market Commentary, News, Opinion

A surge of interest in prime country properties from those who want to escape cities for a new home and working life.

Lockdown in the UK has prompted a surge of interest from people looking to move to the countryside. The success of home working and the fabulous recent weather has led many disillusioned city dwellers to dream of moving to their ideal country home.

As experienced Property Finders for Yorkshire, we are experiencing a real upturn in enquiries from those who want to escape London for a new home and working life in our wonderful County. With prime country properties available at significantly lower prices than London, we are seeing more people who are considering having their main home in the country and maybe a bolthole in the city.

Many of those looking for a country life are expecting to have to work less in the city, but still travel in on some days. For the right home they are prepared to accept a longer commute. With a great standard of living and excellent train connections to the capital, in around 2 hours, Yorkshire is a sure bet

https://www.thetimes.co.uk/article/lockdown-prompts-surge-of-interest-in-moving-to-the-countryside-k98hh6ckz

Market Commentary, News, Opinion

Why property buyers will want to move to the country in the post COVID-19 housing market.

How might buyer and seller priorities change post-COVID? It’s an interesting question with potentially widespread implications for the housing market as many homeowners and prospective buyers start to revaluate both what they want, and what they need, from their living arrangements.

The results of the latest Residential Global Market Sentiment Survey from Savills reveals an intriguing consistency among the housing markets changing in the face of COVID-19, which will have an impact on long-term buyer demand. Some key takeaways…………….

  • First is that 86% of respondents expected an increase in working from home after coronavirus.
  • Second is that 73% of respondents feel that green space will be become a priority for urban buyers
  • Thirdly, an additional 61% of respondents anticipated a rise in the demand for country/rural areas.

Vantage are residential property finders, specialising in all aspects of finding, buying & renting homes for our clients throughout the Home Counties and Yorkshire. We are already experiencing a significant upsurge in enquiries, so if you are thinking of relocating to the country, get in touch to see how we can support you. https://vantagepropertyfinders.co.uk/

https://www.forbes.com/sites/garybarker/2020/05/15/how-might-buyer-and-seller-priorities-change-post-covid/#26d7685748e4

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