Last Updated: 01/10/2020 13:15:26
What is the true state of the housing market in Feltham, and what effect has Covid had on house prices? During the early stages of Covid, the most regularly asked question was, "are prices dropping/" the media reports suggested that prices would drop, due to unemployment, and a poor economic outlook, in fact, the opposite happened, we have seen price increases of between 5 and 10%, just in 3 months. The reasons for this are, obviously the stamp duty holiday, but also the pent up demand caused by the initial lockdown, and also, the fact that with Pensions, Isas, and the stock market showing poor returns, Housing is looking pretty safe, and with a rental return of around 3%, although lower than before, still much higher than elsewhere. The majority of sales are taking place to investment buyers, and second time movers, and the North Feltham area towards Hounslow, proving particularly desirable. Flats are not enjoying the levels of interest that houses are, and prices have not risen at all, the lack of first time buyers, the desire to have a garden, problems concerning cladding, escalating ground rents, and the Lenders now asking for 15% deposits instead of 5% deposits, have all combined to depress the flat market, prices have to be keen to sell. These are the best selling conditions we have seen for 5 years, the volumes have increased dramatically, which has had a knock on effect for solicitors, who are struggling to process the increased number of transactions, this means that sales are now taking much longer to complete, we can only hope that the Stamp duty holiday will be extended beyond March, to continue the market recovery, and with the conclusion of Brexit negotiations, we may need it. If vendors are considering a move, provided we can find you a buyer before the end of October, the Stamp duty holiday deadline of the end of March, should be achievable. Martin Ludeman Director
Last Updated: 10/09/2019 14:24:09
Lettings, Feltham, Tenant Fee Ban, Tenants, Brexit
What a great time to consider a move or rent for the first time. With savings to be made via new government legislation since June it has made it really easy for renters to re-evaluate their existing tenancies and move around a bit more freely, finally allowing people to seek real value for money when it comes to renting.
Whilst the demand for rental properties in the area does have surges and drops in demand, this area mainly offers accommodation to the ‘transient professional’ who choose to move in and out of the area on shorter contracts. So, what the changes have meant to us is that, more so than ever, the quality of accommodation is having to improve. Renters want, and deserve, good quality, well maintained housing.
We have seen a number of Landlords choosing to sell their properties, some even to their tenants, which has been rewarding to see, but this has however started to show a restriction of rental stock. Thus far this has not seemed to have pushed prices up. But as we all know, just as one house or flat sells, another gets purchased. Some of our career Landlords and investors are taking advantage of the Brexit uncertainty, and are looking longer term to increase their portfolios whilst the property prices are low. So, whilst we are seeing a decline in people investing in properties as nest eggs, we are seeing an increase in other areas. What I think this change will show is a general increase in standards. It is perhaps the more seasoned ‘professional’ Landlord that will be able to weather the storm of the tax and stamp duty changes a bit better than the ‘accidental Landlord’.
What we can be certain of is that Feltham remains an affordable and ever improving area. The reinvestment in the town centre can be seen all around us, and whilst we have seen some banking branches close, it is rare for any of our high street retail units to close, shut and remain so. In fact it appears business in Feltham is booming with lots of new shops and small businesses opening up to serve the local community.
When the building work and redevelopment of the town centre and station has been completed this year and all the mess of the building work is over we’re positive we’ll see the area really start to blossom with further redevelopment promised to the leisure facilities in the future also. So although the doom and gloom of Brexit still hangs over the country, it appears as though behind the scenes Feltham is just ‘getting on with it’.
Last Updated: 25/05/2019 13:00:24
spring has sprung in feltham, and the seasonal upturn in the housing market is upon us, but is it really, what's really going on out there? the number of properties is about on par with 2018, however, the number of sales has increased markedly, with a surprising number of clients looking to move, in a continually uncertain climate. Brexit fears have, if anything, intensified, and we still have no idea what the final outcome will be, but families are outgrowing their properties, and moves have to be made. year on year figures show that prices have dropped by between 8 and 10%, making excellent savings for first time buyers, also an abundance of flats being marketed by disgruntled landlords have increased competition, and forced prices down, so all in all, a good time to buy. so, what for the future? until we get a Brexit decision, it is impossible to predict, but my sense is that there will be a rebound effect, as normally occurs after a recession, and prices will start to recover, so we may find that prices will never be as cheap again
Last Updated: 05/09/2019 11:33:43
Feltham Rental Market, Lettings Feltham, Feltham, Rental Trends
2018 has been a year of peaks and troughs. With a strong start to the year, once again we’ve been fortunate to attract the business of some super new Landlords. It’s been interesting to observe that regardless of changes to stamp duty and mortgage interest tax relief, there are still an impressive number of new Landlords choosing to invest in property. On the other hand, we have also seen a large number of our current clients reduce their portfolios or leave the sector all together so we have experienced a bit of a shake up with our rental stock.
It has also been a year of rents falling slightly in the area. Whilst developments close to Feltham train station have remained ever popular with rental values staying stable, other areas of Feltham have seen prices levelling out or even reducing.
Feltham has always been a popular area for investment due to our close proximity to London and Heathrow. Some of our tenant’s travel hundreds of miles to live in the area, both from within the Uk and overseas, for work placements, contracts and schooling, and we have for a long time been considered the best placed agent in the area for overseas professional tenants looking to secure both short and long-term accommodation in the area.
We’ve therefore felt, more so than ever, that rental properties need to be well maintained and attractive and that our Landlords are kept fully updated on all of the new legislation affecting the sector this year. Landlords will need to continue to be observant of coming rental trends. Those who can remain flexible and realistic about asking prices will see their property investments remain reliable, and we continually encourage our clients to improve the quality of their properties to attract the very best of tenants.
Last Updated: 14/08/2018 16:15:16
Summer is drawing to a close, and the buyers are beginning to return to the market, this has been an unusually hot Summer, which hasn't helped the buyer's enthusiasm, but as the temperatures cool, we are registering a higher level of applicants. Prices remain steady, and some properties are still achieving good prices in the early stages of marketing. The uncertainty surrounding Brexit still continues, with buyers reluctant to make decisions unless they feel that they are getting value for money, there are many properties being reduced in price, with valued down between 3 and 5 % over the last calender year. There are more properties available to choose from compared to this time last year, but the signs are for an improving market, with Housing associations now re-entering the fray, now could be the last time to buy, houses may never be as cheap again. Martin Ludeman Director
Last Updated: 15/08/2018 12:20:08
housing associations have re-entered the Feltham housing market. prices have been sliding over the past year, and the number of transactions have fallen. housing associations have been looking to increase their property portfolios in the Hounslow borough, as they did previously in the 90's. we currently have two housing associations looking to purchase 400 units over the next two years, flats and houses, they are paying fair market values, and transactions are moving quickly and painlessly, so for anybody looking for a quick sale, to a cash buyer, at reasonable prices, act quickly, we can provide a free valuation initially. Martin Ludeman Director
Last Updated: 21/05/2018 12:56:59
spring is always a popular time to move, and despite Brexit worries, this year has seen the same increase in activity, higher numbers of property coming to the market, has generated in influx of new buyers, and the time taken to sell properties has reduced dramatically, some being sold at the asking price within just days of being marketed, a marked change to the start of the year. Sellers have become more educated with regards to the state of the housing market, and are now pricing more realistically, and also, more open to accepting sensible offers. The Royal Wedding has understandably caused a brief hiccup, but with reduced prices, houses are finally starting to shift. Feltham enjoys the lowest prices in zone 6, so it is still very affordable for commuters.
Last Updated: 24/01/2018 11:21:10
Brexit Renting Trends 2017
2017 has been a busy year for Forest Lettings. We have taken on a record number of new properties and welcomed many new clients to our portfolio. We have succeeded in raising the standard of our stock and have been encouraged by the renewed effort of our Landlords to undertake improvements to their properties in spite of Landlords having to withstand changes in tax relief and the banks imposing tougher lending rules ahead of the changes due next year.
In the last 18 months or so we have seen a slight reduction in rental asking prices which has come as a bit of a surprise to some of our Landlords who have been used to annual increases, and it is indeed a market trend that we have had to ride out since the Brexit vote last year. But it is often worth remembering that good tenants are just as much of an asset as the property itself. Our ongoing commitment is to help our clients find the very best professional tenants and in return supply a portfolio of high quality properties that our tenants find a pleasure to rent.
We have also seen an increased number of Landlords asking to move their portfolios over to us for management. We are finding that Landlords have been unhappy with the services provided to them by some of our competitors, which in turn has caused often unnecessary distress to their tenants. We have therefore expanded our team to reflect this increased demand.
We would therefore like to thank our clients, both tenants and landlords alike, for their loyalty and recommendations throughout the year. We hope that 2018 will see our ongoing efforts rewarded with continued success.
Last Updated: 21/11/2017 16:51:45
Feltham Brexit House Sales
brexit worries continue to hamper the housing market, and with the additional concerns over the recent interest rate rise, the buying public are increasingly concerned about the prospect of further hikes in mortgage rates. all this causes uncertainty, which leads to paralysis, and this feeds into house prices, with buyers unwilling to take a risk in what is perceived as a falling market. however, despite these concerns, we have seen an increase in buyers during october and november, we also have many clients now accepting prices up to £15000 less than they were offered back in spring/summer, spurred on by the prospect of a further decline in prices. and it is these reductions that appears to have encouraged more buyers back into the market. there is the hope that changes in the November budget will further improve the housing market conditions, and it may prove a wise move to secure a purchase this side of xmas, as any improvement in the housing market will be accompanied by a firming of prices
Last Updated: 21/02/2018 12:31:16
2018 has started with a bang, with the highest levels of property coming to the market since 2012. prices appear to be static, and we predict that this is likely to continue throughout this year. we have seen an increase in first time buyers, attracted by the removal of stamp duty payable on properties up to £300,000, and this has given a much needed boost to the Feltham market. We are seeing a large number of flats coming to the market, some of them from Landlords who have decided to reduce their portfolio of buy to let properties. This is a good time to move, where prices are stable, and there is a good selection of property available, providing we see some clarity regarding the Brexit negotions, these conditions should continue.
Last Updated: 22/11/2017 13:56:46
Budget Brexit Chancellor
Fantastic news for buyers in the Feltham area, is the chancellors abolition of stamp duty for first time buyers up to £300,000, saving up to £6000 on purchases at that price, this is excellent news for first time buyers looking for affordable housing within Zone 6. This will undoubtedly lead to an increase in enquiries from first time buyers, which is exactly what is needed to kick start the housing market, again, best advice would be to secure a purchase this side of Xmas, prices could rise in the New Year-Martin Ludeman
Last Updated: 14/09/2017 12:48:47
since brexit and the changes to stamp duty and tax relief, the housing market has shown a marked downturn, the media seem to be aware of the changes, and are increasingly reporting the fact. this has led the purchasers to expect large price reductions, however, very few vendors seem to have acknowledged the fact that prices are dropping. this has led to market stagnation, with many properties sitting on the market for 6 months, something not seen since the beginning of 2008. so, what are the future prospects for house prices, well in my opinion, the best that vendors can hope for is a flat market, with stagnant prices, however, the reality of the situation is that prices have fallen in the Feltham area, between 3 and 5% over the last year, however, asking prices have not reflected that fact. the current trends are that properties can sell, but the prices have to be realistic, they will not sell for what they sold for a year ago, but it is all relative, the 'price to change' has not altered, but realism is the name of the game with asking prices. in the meantime, the rental market is extremely active, it is possible that potential purchasers have decided to sit on the fence and wait to see what the effects of brexit will be, and rent for a year to wait and see, the next 6 months will be very interesting
Last Updated: 07/04/2017 15:08:59
Demand for flat rentals in Feltham and Bedfont remains high, and purchasers who have been scared by the current economic uncertainty, are opting to rent and ‘wait and see’.
We've certainly not seen much of a slow down in buy to let investors looking to join the market, in fact we have seen some of our Landlords wanted to significantly increase their portfolio within the last six months.
Feltham continues to offer excellent value when compared to property closer to London.
Last Updated: 21/11/2017 15:42:09
The housing market continues to be challenging, buyer’s property registrations are below pre Brexit, and prices in Feltham have to be accurate to ensure a sale. The number of properties coming to the mark in Fedlthamt have also declined post Brexit, and in our view, the uncertainty in the economy continues to be the primary reason for the decline in activity, the good news is that there are buyers out there for property in Feltham, and indeed some cash investors, but they are looking for value for money, the Feltham flat market is particularly busy
Last Updated: 05/09/2019 11:33:33
Landlords, Spring, Beautiful Homes
Spring 2017 is proving another busy time of year for Forest. We've had a great start to the year with some really high spec properties coming onto the market and some fantastic Landlords signing up with Forest. We've been in the position to market some truly stunning homes. It is encouraging to see that there is a lot of Landlords out there really looking to significantly improve the standard of their portfolios and we have seen some really lovely renovations of late.
This year we are really concentrating on only listing only the very best properties. It is important to us that we are able to offer our applicants real value for money when renting, which in turn provides Landlord's with longer term tenancies , healthier yields and happier Tenants.
Last Updated: 15/12/2016 10:45:48
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