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During the month of April 2017 the UK saw a total of 99,910 residential transactions resulting in a huge 20.3% rise in transactions when compared to the same time last year. In addition to residential transactions almost breaking the 100,000 mark, the month of April also saw 9,980 non-residential sales according to recent data released by HMRC. It was also revealed in the latest information published by HMRC, that overall transactions are down 3.2% in comparison to the previous month, however, the current number of transactions are still seen as strong progress for the UK property market.
This large leap in transactions could be attributed to the introduction of extra stamp duty land tax in April 2016, which certainly had a dampening effect on the market at the time. While some may have anticipated a further slowdown in transactions in April of this year due to the tax changes for landlords, recent statistics show the resilience of the market.
We were honoured to have recently presented the latest R & L Sporting Achievement Award to Louie Gordon at Abbey Road Primary. As usual it was fantastic to be involved with the school and Louie was clearly a popular winner with his peers; when his name was announced as the winner, the roof nearly came off! Louie is a talented sportsman and excels in many sports but perhaps his greatest talent is in offering his team mates support and encouragement. A cheque for £200 was presented to Louie for him to spend on sporting equipment for the school and he was also given a trophy. We have been making this award for 7 years now and it is great that we can help the locals schools in this way. Pictured is Director Gary Lund with Louie.
Figures just released for May 2017 show leading local agent, Royston and Lund are still at the top of their game and are continuing to lead the way in property sales.
Listing more properties in May than any other month since 2011 confirms that the property market is extremely buoyant. Graham Sheardown, Senior Valuer comments: “We are delighted with how strong the market is, although we are busy across the whole spectrum, there seems to be certain pockets within the market which are performing extremely well. Traditional semis in central West Bridgford and Lady Bay are an example of this with young couples and families who are keen on moving to or within the area, as well as 2 and 3 bed semi’s in Compton Acres and Gamston which are proving to be popular with first time buyers and buy-to-let investors alike.”
Steven Gray, Senior Valuer, also comments: “The top end of the market is moving extremely well, particularly in sought after addresses such as Dovedale Road and Selby Road. We are experiencing more sealed bids than ever before and exceeding asking prices by large amounts, in some instances by over £100,000.”
Val Shakespeare, Director, concludes: “Having seen the highest level of viewings in the last 5 years, we are not surprised that this has resulted in the huge amount of sales which have been agreed for the month of May; according to Rightmove, this figure is three times higher than any other local agent proving our expertise and service standards are still ensuring that we sell the lion’s share of the local housing stock.”
Not only do our landlords and tenants have the reassurance of Royston & Lund’s Lettings Department having full expertise in all that they do, we are now proud to announce that two more members of the Lettings team have become ARLA members as a result of passing their NFOPP level 2 in Property Management. This is great recognition for the team, backing our knowledge of the legal aspects and procedures for Lettings and Property Management.
The Award, which is a nationally recognised industry qualification, meets the Association of Residential Letting Agents’ (ARLA) membership requirements to join the Association as a member agent. ARLA is the UK's foremost professional body for letting agents. It aims to promote better regulation and higher practice standards in the UK private rented sector.
“The NFoPP QCF Level 2 Award demonstrates a knowledge in the key areas related to residential letting and property management within the lettings sector. The NFoPP Awarding Body is committed to raising standards within the residential letting and property management sector through the provision of accredited, nationally recognised qualifications, such as the Award Emma and Gaynor have achieved.”
“I congratulate Emma and Gaynor on their achievement of the Level 2 qualification and hope to welcome them both to full ARLA membership.
“ARLA strives for better regulation in the private rented sector; with the support of letting agents across the UK recognising the need for higher standards and integrity in the sector, gaining an NFoPP qualification counts as a real stamp of professionalism and supports the drive for better practice within the industry.”
Please note that our offices will be closed this coming Bank Holiday Monday 29th May. Normal office ours will resume on Tuesday 30th May.
Being a landlord is by no means an easy undertaking. Competition for exemplary tenants is fierce, maintenance can be costly and time consuming and your legal obligations can at times feel like a web of confusing, ever changing jargon. But get it right, and investing in a property can be one of the most lucrative and satisfying investments you can make.
With renting becoming increasingly expensive and in turn tenant’s expectations and demands becoming harder and harder to satisfy, take a look at our top 5 tips below to ensure that your property is in tip-top shape to help boost your rental yield and secure long term, happy tenants.
Think outside the house!
Don’t put potential tenants off with a drab and dreary façade or un-kept garden. First impressions count! The exterior of your property is a reflection of its interior condition. Keep it clean, tidy and attractive. In some cities, outside space is a luxury that comes at a premium, so don’t waste it! Not only can a well maintained garden act as an extension of the interior living space, but it can also help to secure long term, reliable tenants, and act as a strong selling point should you come to put your property on the market in the future.
Focus on the wow factor
The appearance and functionality of your property’s kitchen and bathroom should be at the top of your priority list, especially if you are looking to achieve the greatest possible rental yield. With the condition of these two rooms often being of the utmost importance to individuals looking to rent or buy, investing in bathroom and kitchen renovations, although often costly, can have huge benefits. Add value to your property, wow potential tenants, and justify your rental rate, all whilst minimising future maintenance requests.
Keep it clean
This may seem like an obvious tip, but we can’t stress enough the importance of keeping your rental property squeaky clean and clutter free. A full overhaul is not always needed, sometimes a fresh lick of paint and a deep clean can do just the job to turn a dull and dingy dwelling into a bright and attractive home. Hiring a professional cleaner is well worth the initial output for the results achieved.
Spruce, Spruce, Spruce!
Interior décor can play a major factor in the appeal of your property. Get it right and prospective tenants will be flocking for viewings. Get it wrong and your property could quite literally be left on the shelf. Keep it simple, neutral and homely. Staging furniture, lighting and props can help prospective tenants envision themselves living comfortably in your property.
House or home?
The excitement of becoming a landlord and renovating a property can often cloud the decision making process. Don’t forget that your primary goal is to make money from your investment. Over renovating and trying to achieve the picture perfect finish that you would like to see in your own home is not necessary. Remember that tenants will most likely view your property as temporary accommodation and will not treat it with the same care as they would their own home. Spend on what you need, not on what you want to maximise your profit.
Thinking of investing in a buy-to-let? Speak to a member of our lettings team today to see how we can assist you with advice on current investment opportunities in your area.
Please see below Easter opening hours 2017:
Good Friday - 9am - 4pm
Easter Saturday 9am - 4pm
Easter Sunday - CLOSED
Easter Monday - CLOSED
Tuesday 18th April - Normal Hours Resume
Leading local estate agents Royston and Lund are celebrating an exceptional achievement after Val Shakespeare, Sarah Jones, Gina Burbidge, Samantha Simkins, Matt Dennis, Liz Owen and Mark Daley from their West Bridgford team succeeded in gaining an advanced professional qualification.
After completing the necessary training, they have all been granted the title of Advanced Associate Members of The Guild of Property Professionals – the UK’s most prestigious network of independent agents to which Royston and Lund is delighted to count itself the exclusive Member in West Bridgford. Each office is carefully selected on the basis of its professionalism and commitment to highest standards of customer service.
To pass the examination, candidates are required to demonstrate thorough knowledge and understanding of some 40 modules. These are organised into four key components; Fundamentals of Effective Selling; Valuing and Property Appraisal Skills; Marketing and Property Promotion and Developing your Estate Agency Skill Set.
Congratulating the staff on their achievement, Gary Lund said: “We have always been proud to belong to The Guild, which represents the highest standards in independent estate agency. Now, through the individual efforts of our staff in successfully gaining Guild Associate status, which recognises their knowledge, skills and professional competence, we can also justifiably claim to have the best-trained team in West Bridgford.”
When instructing an estate agent to sell your home, it is crucial that you have trust and confidence in their professional abilities. Following its success in achieving Guild qualifications, Royston and Lund is now, more than ever, fully equipped to guide you on your journey thorough the property market.
more information, please contact us on 0115 9811888.
Our latest Royston
& Lund Sporting Achievement Award has been made and the joint winners were
Lucy Rich and Edward Day from West Bridgford Junior School. They received their
trophies in front of a packed assembly from Director Gary Lund. Both winners were
fine examples of how to conduct themselves on the sporting field, always having
a smile on their faces, whatever the result. As usual, we made a donation of
£200 to the school, to be spent on sporting equipment to be chosen by Lucy and
Edward. Congratulations to both of you from all of us at Royston & Lund!