Getting into the property market and owning a home is a milestone that many aspire to. Buying a home can have an impact on your financial situation for the rest of your life. However, while the idea of owning a home is exciting, it is vital that you only take that step when you are completely ready to do so. This is because being a homeowner requires desire, sustainability and a long-term financial commitment.
We all want to add value to our homes. After all, property is one of the best investments so why not make the most of it. The rule of thumb when it comes to adding value is to utilise what you already have. Any additions that are too costly might not bring you much of a return when you sell, so work with the space and think how it could be transformed to make it more useful.
While the government has put several things in place to boost the first-time buyer’s market, the uncertainty surrounding Brexit and its full impact on the housing market, deposit requirements and property prices have left many would-be homeowners waiting on the sidelines for now.
According to Chris Sawyer, Managing Director at Sawyer & Co, operating in Brighton and Hove, the area is showing evidence that Brexit is having a significant impact with first-time buyers. “We are seeing first-time buyers showing fragile confidence in the market, which is understandable given the gloomy picture that is painted,” he says. “Many have adopted a wait-and-see-what-happens approach. With an average house price of £400,000, even a small change to value can have an impact on the buying power.”
Brighton and Hove aren’t the only areas to be affected. Nick Manson, Managing Director at Manson Property Consultants in Newcastle noticed that the uncertainty of Brexit is making the buyers in his area take a pause. He adds that warnings from Mark Carney from the Bank of England that a disruptive no deal Brexit could cause a 35% drop in house prices are also impacting buyer’s decisions.
It is no secret that London’s property market has also taken a knock. Conran Estates in Greenwich have pointed out that first-time buyers are very apprehensive, much like the rest of the market in the financial hub. Again, uncertainty regarding Brexit was pinpointed as the primary issue, with buyers concerned they could end up with negative equity having no assets behind them, even though they have decent deposits. First-time buyers who are taking the leap are generally giving offers below the asking prices.
Deposits and high property prices
First-time buyer activity has slowed to a trickle in the Midlands, according to Bill Tandy in Lichfield. However, he says that Brexit is not the main antagonist but rather deposit requirements and the high value of the second-hand market. He adds that low stock and good availability are the main fundamentals at play, aspects that will not change when the dust of Brexit has settled.
Not all doom and gloom
For some, it is business as usual in terms of the first-time buyer market. According to Simon Miller, Managing Director at Holroyd Miller in Wakefield, being predominantly a leave area, first-time buyers are not worried in the slightest by Brexit, as employment levels are stable. Brexit has not had a great impact on the area overall and first-time buyers are carrying on as they always have, with no hesitation.
Craig Reynolds, Owner of Urban & Rural in Bedfordshire and Buckinghamshire, agrees. “First-time buyers are generally not holding back but if they are, it is due to other factors – not Brexit. These include elements such as mortgage availability and lending restrictions. House prices have fallen slightly, which has helped first-time buyers. With Brexit having been a saga for two years now, people are just getting bored with it and are carrying on undeterred,” he adds.
In Wales, Melfyn Williams, Managing Director at Williams & Goodwin The Property People Ltd, says Brexit has not impacted his area at all. “First-time buyers seem to be ignoring the press which is the most harmful thing surrounding Brexit. The attitude seems to be that everyone is still going to need a home or to move home at some point.”
Webbers, with offices in North Devon and Somerset, say their area of operation generally has a low number of first-time buyers, but Brexit is not affecting the attitudes of the ones who do. Overall, they say they have seen little impact to their local market. Borrowing is still very cheap and interest rates are low. First-time buyers are not worried.
Is Brexit keeping you out of the market? If not, have a look of the properties The Guild has on offer.
Are you thinking of moving to another part of the country? Why not pop into Joplings in Ripon or Thirsk and tell us about the new dream home you are searching for and we will pass this onto the Guild agent who will be able to help you with your search.
As a member of The Guild of Property Professionals we are part of a network of over 800 independent Estate agents in England and Northern Ireland. Have a look at these stunning properties which are situated near scenic parks, from some of our network agents.
Homes near Pretty Parks
Looking for a fresh start in 2019? We have scoured the country for homes near pretty parks. Whether you enjoy a gentle stroll in the park, a trek in the hills, or a place to play sports at the weekend, these properties have one thing in common: they are beautiful places to live and explore.
The Pavilion is an outstanding period home, built circa 1830. With large, picturesque gardens, the traditional property enjoys a prime position within the delightful Western Park. The four-bedroom home offers a wealth of period features including tall ceilings, paneled doors and antique French marble fireplaces. Presented to an exceptional standard, with expansive gardens, a car port and far-reaching, panoramic views, this residence is a hidden gem.
Western Park is the largest park in Leicester, and arguably the most beautiful, offering 178 acres of meadows, woodland plantations and formal areas to explore. This delightful park has a great cycle trail and offers a wide range of activities all year round. This includes two bowling greens, seven football pitches, five cricket wickets, six tennis courts and one baseball field.
This Grade II Listed cottage makes for an excellent family home, located in the heart of the charming village of Llandwrog, north west Wales. The house is deceptively spacious and has been extended to offer additional living space. With a captivating front exterior and a lovely enclosed garden and gated driveway that leads to a large garage and useful workshop, the property offers an abundance of charm and character including coved ceilings with exposed beams and a traditional Inglenook fireplace.
The property is located near Parc Glynllifon in Caernarfon, Gwynedd, a historic country park with an outdoor Amphitheatre, children’s play area, a popular café and gift shop, as well as several water features, including a delightful river. A winner of the ‘Green Flag’ award: A Visit Wales Accredited Attraction, this park is perfect for a Sunday stroll, a bike ride, or a picnic in the warmer months.
A unique detached home designed to blend with its surroundings, Sedgewell Coach House is a rare find set in four and a half acres. Situated to the southern slopes of the Haldon Hills with extensive uninterrupted views across a stunning wooded valley in Chudleigh, Devon. The property effortlessly merges period charm with modern living in contemporary accommodation where you can both relax and entertain in comfort and style.
Crafted to embrace both space and light, this home overlooks extensive woodland and rolling fields. Dramatic sweeping lawns and drystone walls emphasise the natural beauty of the landscape. The property is perfect for those who enjoy country walks and a home with an unbeatable view.
This breathtaking Victorian stone-built residence is located within a short walking distance of Pugney’s Country Park in the heart of Sandal village, south of Wakefield city centre. The property offers a high degree of privacy and character. The home also boasts mature gardens with Yorkshire stone paving, an excellent gymnasium with useful storage and a sauna.
Pugney’s Country Park is set in 300 acres, offering a variety of walks with good footpath links to Sandal Castle where there are spectacular views to the west along Calder Valley. Cycling is also very popular, and the park operates a rental service. The park also offers additional watersport facilities including sailing, windsurfing and canoeing. Bird watchers indulge themselves in the bird hides overlooking the Local Nature Reserve, while other visitors stop at the café for some refreshments while they enjoy the views across the park.
This beautifully presented seven-bedroom family home is positioned in the tranquil hamlet of Penylan, overlooking beautiful countryside, near the village of Bassaleg. The property is set within over three acres of picturesque grounds and features a fresh water lake.
The residence is extremely private and peaceful, with spacious gardens and parkland surrounding the property including a boat deck, barbecue, chalet, out building and fruit orchards. The timber deck relaxation area is adjacent to the lake, which features a magnificent backdrop of the Newport countryside.
The Guild is a network of over 800 of the best independent estate agents around the country. To find your dream home, visit our website.