Our monthly property report

Could your rental property deliver a higher yield in 2022?

According to recent data, the combination of high tenant demand and low numbers of available properties has caused average UK rents to rise at the fastest rate ever recorded. *

Rental demand has been reported as 32% higher, while the number of available rental properties is 51% lower than this time last year.

Flats have seen the highest increase in competition compared to last year (+132%), followed by terraced houses (+40%) and semi-detached homes (+30%).

Data collected from a popular property portal suggests that the average rental yield across the UK is now 5.5%, which is the highest since 2016. Industry experts are hopeful that rents will increase further this year, with a well-known portal director explaining, "Tenant demand continues to be high entering the new year, meaning the imbalance between supply and demand is set to continue until there is more property choice for tenants, which has led to our prediction of a further 5% increase in average asking rents in 2022."

To find out if you could increase the rental income from your property, get in touch today to book a free lettings valuation.

*Rightmove

Room upgrades to increase your home's value

Most people naturally think of major, expensive projects like a conservatory or an extra bedroom when it comes to increasing the value of their property.

While this will likely increase the value of your home, in some circumstances, repurposing an existing room rather than building a new one can be far more cost-effective.

Incorporate a kitchen island

A kitchen island might be worth its weight in gold if you have the space for one. It will not only provide more seating but also additional storage space for pots, pans, and appliances. You can never have enough cupboard space!

Include an en-suite bathroom

Even though en-suite bathrooms are more common than they used to be, they still have a sense of exclusivity. Even though they are one of the most expensive renovations, they may be a highly valuable investment when it comes to selling your home.

Include a walk-in wardrobe

If you have sufficient space, a walk-in wardrobe is a great way to add value to your main bedroom. It also gives your home a sense of elegance and individuality, which can help it stand out when it’s time to sell.

A loft conversion

This is likely the most expensive option on the list, but it could provide your home with the largest value bump. Repurposing an existing space to make it more useful will certainly increase the value of your home and converting the attic to make an extra room is a great example of this.

For more help on increasing your home’s value, contact our team.

Homebuyers willing to pay more for smart homes

Smartphones and tablets have been a part of most of our lives for well over a decade — but how smart is your home?

Over the past two years, many of us have spent more time in our houses than ever before. Whether we are looking for entertainment, convenience, energy-saving features, or something else altogether, smart technology is becoming an essential part of home life.

Smart tech that helps your home stand out

Homebuyers of all ages and demographics are interested in smart homes. If you are thinking of selling your home, smart technology is a great way to ensure it stands out from the competition and achieves a maximum asking price.

A recent survey by a popular price comparison site suggests that smart security cameras are at the top of people’s wish lists, with 41% of people saying it is the device they want most in their home.*

Security and convenience are key drivers

In the same survey, a smart doorbell came in second place, taking the top spot for 35% of respondents. People welcome the security a smart doorbell offers, as well as the convenience of being able to direct deliveries to the right place.

Using tech to strengthen green credentials

By installing smart devices around your home, you’re not only appealing to the tech-savvy but also the eco-conscious homebuyer. A smart thermostat was cited in the research as being the third most popular piece of smart technology. Not only is it convenient to be able to control your heating from an app on your phone, but a smart thermostat also has the wider benefit of helping homeowners save money on energy bills.

Selling homes with smart kitchens

We are seeing an increasing interest in smart technology for the kitchen. Google searches for smart dishwashers, ovens, fridges, and washing machines have all significantly increased over the past few years and, although overall sales volumes remain small, at the start of this year an online DIY news site reported a huge 257% year-on-year growth for small smart kitchen appliances.*

When it comes to selling your home, there are many ways smart home technology can be worth the investment. Talk to our team to find out which smart features are most popular amongst homebuyers in your local area.

*Property Reporter

Check out some of our videos!

In 2022 we have started to make short films for many of our properties. I have been delighted at how effective they have been but perhaps it should not have been a surprise.

It is generally accepted that videos generate 36% more views and 30% more leads than properties being marketed without videos and they are particularly effective when used on social media.

I have attached links to our most popular video this year and my favourite. I will leave you to guess which one is the most viewed.

If you want to know any more about videos and how they might help sell your property just get in touch.

anthony@foxcountryproperties.co.uk

https://youtu.be/H52i2v2UazQ

https://youtu.be/SVNVYjaECd8