Welling property prices are up again!

It was only two weeks ago I wrote about my predications for the housing market in Welling in 2017. This week, as expected, there have been more articles in the industry press, and out to the public from the major portals like Rightmove and Zoopla, confirming just that. Below you’ll find all you need to know that will affect the value of your Welling property.

Zoopla up first, with their January newsletter that can be found on the link below. The general theme for them seems to be “shortage of housing”. A lack of supply. This definitely can be related to the Welling market, we have had three separate three bedroomed semi-detached houses in December and early January all receive offers at either asking price or above.

The Zoopla piece can be found here … Click for Zoopla report

and specific to Welling, prices are up 6.3% for the DA16 postcode in the last 12 months, which in monetary terms equates to £21,384.

Rightmove next, they report “encouraging early signs of home-mover activity” because “visits to Rightmove are up 5%” on the same period last year, even despite last years buy-to-let surge to beat the Stamp Duty hike. That would back up the demand outstripping supply theory as well.

Prices are split with Rightmove per bedroom for ease of reference, and please remember these are averages:

Their information reported mid-January on December trends can be found here … Click for Rightmove report

And finally, averages yields for the landlord amongst you. Rightmove report that the average yield for the Welling, DA16 area is just 4.85%. This is either wrong, or there are a number of landlords out there not maximising their investments, and if that’s you, please do get in touch free and without obligation to discuss how we may be able to help you get more from your property investments.

If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.

Email me on kevin@dansonpropertyservices.com or call on 020 3397 4499. If you are in the area, feel free to pop into the office – we are based on 116 High Street, Welling, Kent, DA16 1TJ. There is plenty of parking and the kettle is always on.

Don’t forget to visit the links below to view back dated deals and Welling Property News.

Follow The Buy-To-Let Property Investment Market in Welling

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Find out how much is your Welling home worth. Click here for your FREE Instant Online Valuation

What are you going to charge my Welling tenant?

I am sure I'm not the only estate agent in the land that is regularly asked by landlords and vendors what I charge.

Fortunately I am one of the cheapest agents in town so I always get a positive response when I give my answer, but to me the more important issue should be VALUE.

What are you getting for your money? Do you want the cheapest agent or the best value agent? But that is a conversion for another day.

With the changes in legislation in late 2016 regarding tenant "admin" fees and the ban in the near future after Government consultation, I did some research in to local companies and what they charge their clients, and by clients I mean landlords, vendors, and tenants!

And it got me thinking. Do you know how many times I have been asked by a landlord what I charge a tenant? .... Never. Not once, in 11 years.

But why is that important? Well, if you were a landlord, you would want to know your prospective tenant was getting good value too wouldn't you? You would like to think that every tenant interested in your property was going to want to take it and not be put off by sky high agency fees left, right and centre. If your prospective tenant was considering either your place or another, you would want them to pick yours right? and you wouldn't want a £50 charge here and a £100 charge there a barrier.

I've rented myself in recent years, and the staggering difference in charges made by agents in the local area, some justified, some trivial, is nothing short of a scandal, and the very reason why the tenant fee ban is likely to come in. My partner and I rented a three bedroom house a few years ago, and the charges on the way in, all inclusive, were near £600, and another £100 or so on the way out. It's enough to make you not want to move. 

I'm pleased to say that we are very transparent with our fees, and they are low because whilst we are a business, ripping people off is not sensible for me as a business owner. 

And if you are a homeowner or a landlord, look at things from both sides of the fence. Place yourself in the shoes of your potential buyer or tenant, and ask those questions too....

What do you charge? Is a big question.

If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.

Email me on kevin@dansonpropertyservices.com or call on 020 3397 4499. If you are in the area, feel free to pop into the office – we are based on 116 High Street, Welling, Kent, DA16 1TJ. There is plenty of parking and the kettle is always on.

Don’t forget to visit the links below to view back dated deals and Welling Property News.

Follow The Buy-To-Let Property Investment Market in Welling

Welling Property Market LinkedIn Page

Danson Property Services Welling Facebook Page

Danson Property Services Welling Twitter Page

Welling Investment Property Specialist Danson Property Services Website

Find out how much is your Welling home worth. Click here for your FREE Instant Online Valuation

What will happen to the Welling Property Market in 2017?

If you are a property owner or landlord in Welling, or looking to make your first purchase, then what is likely to happen to the property market in 2017 is probably of interest to you.

2016 was a funny year with the increase in Stamp Duty for secondary/investment purchases, continued low interest rates, more amendments to tax laws for landlords and then Brexit. All in all most people working or involved in the property industry found things were changing all too frequently and most landlords were finding things weren’t quite as profitable as they had previously been.

2017 should hopefully be a little more “normal”.

But don’t believe everything you read in the papers, because all of those figures are National averages and what is happening in the north of the country doesn’t matter to the Welling property owner, or estate agent for that matter. Doom and gloom sells papers.

So what is likely to happen here in Welling and close surrounds?

If you are selling, or thinking of selling, or I suppose re-mortgaging, then 2017 is likely to be a good year. The lack of supply in the area is well known amongst the buyers out there fighting over the few houses that are up for sale. There really is so little available. That means if you are selling, the change of someone “preferring the property down the road” is less likely, as there probably isn’t one down the road. By default your property becomes even more popular than it would already have been, and that means more views online, more phone calls into the agents office, and more viewings. Those things in turn inevitably mean more offers, and more competition drives the price up, as well as allowing you greater control over who buys the house so you get the more motivated, more serious buyer. That often means a shorter turnaround time once you are under offer, and less risk of a fall through sale. All of these issues benefit you.

And when is best to sell? Well, now! With so little available, take advantage. Alternatively, April is a good month with many people coming in to money at the end of the financial year, and preparing a Spring sale ready for a Summer move.

If you are a landlord, rents will continue to creep up. Supply is stronger , but there are far too many properties listed for rental that are presented poorly, either by landlord or agent, meaning if you do have a flat or house for rent that is well decorated, spacious and near to amenities and the station, the rent is likely to be £50-100pcm more than the previous let.

Also, there are now less landlords in the market for expanding their portfolios due to taxation changes, so if you are looking to add more property to your portfolio there has never been a better time.

If you need any advice on residential property in the Welling and Bexley area, please do not hesitate to contact me directly on kevin@dansonpropertyservices.com
If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.

Email me on kevin@dansonpropertyservices.com or call on 020 3397 4499. If you are in the area, feel free to pop into the office – we are based on 116 High Street, Welling, Kent, DA16 1TJ. There is plenty of parking and the kettle is always on.

Don’t forget to visit the links below to view back dated deals and Welling Property News.

Follow The Buy-To-Let Property Investment Market in Welling

Welling Property Market LinkedIn Page

Danson Property Services Welling Facebook Page

Danson Property Services Welling Twitter Page

Welling Investment Property Specialist Danson Property Services Website

Find out how much is your Welling home worth. Click here for your FREE Instant Online Valuation

Why marketing your Welling property for sale NOW is better than January

If you are thinking of selling in 2017, do NOT wait until January. 

There is always a reduction in the number of people out viewing property in December as attention inevitably turns to Christmas. Shopping, social and work nights out, and the freezing weather, as well as homeowners not waiting people visiting, all mean that viewing activity is very low. 

BUT, viewing properties online that are available for sale peaks during the festive period and we're told by Rightmove is at its highest between December 24th and New Years Day. If I were selling, I would want my property online having all those eyes gazing at it, wouldn't you?

January brings New Year Resolutions, as well as the festive period meaning time off work, and family time, to discuss and plan a house move, an investment purchase, a re-mortgage, and its a time traditionally when a lot of people get together. 

Supply and demand is a massive factor when selling too. So when your property goes online for sale in January, it is going online alongside all the other January sellers, and you've more competition. Go online before the rush and you'll be raking in the viewing requests as one of only a few properties on the market, so come January you'll already have people pencilled in ready to visit the moment the decorations are down. 

You'll be one step ahead of the rest. And you'll be under offer and planning a move whilst they are still waiting for the photos to be taken. 

So, if you are thinking of moving in the New Year, don't wait until January, get in touch now and allow us to discuss your requirements and prepare you for a pre-Christmas launch. 

And if that weren't enough of an incentive, get a valuation and instruct us to market pre-Christmas and we'll give you 10% off our standard rates.

If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.

Email me on kevin@dansonpropertyservices.com or call on 020 3397 4499. If you are in the area, feel free to pop into the office – we are based on 116 High Street, Welling, Kent, DA16 1TJ. There is plenty of parking and the kettle is always on.

Don’t forget to visit the links below to view back dated deals and Welling Property News.

Follow The Buy-To-Let Property Investment Market in Welling

Welling Property Market LinkedIn Page

Danson Property Services Welling Facebook Page

Danson Property Services Welling Twitter Page

Welling Investment Property Specialist Danson Property Services Website

Find out how much is your Welling home worth. Click here for your FREE Instant Online Valuation

Average property price data for Welling - Q4 of 2016

Every month I get information from numerous property sources and general opinion pieces in the press telling me what is happening with property prices.

Most of the time it is National averages, and whilst its nice to read, what really interests me more is the monthly Rightmove report offering me specific information on what is happening in Welling, DA16, which is where I live and work. 

For the calendar month of October, Rightmove has published the below stats for "average" property prices. But as I often say to my clients, "I am sure your home isn't average now is it?". 

The below stats are for your guidance only, but if you want an accurate figure on what your property may be worth, then you should know by now how best to find out. 

The full report for National, Regional and DA16 specific stats can be found by clicking here.

If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.

Email me on kevin@dansonpropertyservices.com or call on 020 3397 4499. If you are in the area, feel free to pop into the office – we are based on 116 High Street, Welling, Kent, DA16 1TJ. There is plenty of parking and the kettle is always on.

Don’t forget to visit the links below to view back dated deals and Welling Property News.

Follow The Buy-To-Let Property Investment Market in Welling

Welling Property Market LinkedIn Page

Danson Property Services Welling Facebook Page

Danson Property Services Welling Twitter Page

Welling Investment Property Specialist Danson Property Services Website

Find out how much is your Welling home worth. Click here for your FREE Instant Online Valuation

How will Tenant Fees being banned affect the Welling Property Market?

Another week has ticked by and the fallout from the banning of Tenant Fees has calmed down a little. 

Many property owners and landlords in Welling have been asking my opinion on how I think the news from the Chancellor in his Autumn Statement will influence rents in the local area, and you can read my personal opinion in my last piece here.

As you'll have read, I am against it, and so are 99% of the estate agency industry, with most preferring a cap rather than an outright ban. But everyone has a different opinion, so what are others saying? I collect some of their thoughts below.

The online agent

Upad are a large online only agent, mainly dealing with rental stock. So what do they, and specifically their owner, have to say? Bizarrely they are in favour of the ban? And the CEO's comments make it sound like good news for tenants. I guess only time will serve to prove that that is likely to be incorrect based on the thoughts of the 99% mentioned above. Their doesn't appear a comment relating to how it will affect their client the landlord though, just something from the tenants side of the fence. Their initial piece can be found here and then their follow up can be found here ... generalising what I and my industry colleagues do considerably I might add ... here.

The Welling Landlord

Nathan Hewish, one of our bigger landlords at Danson, and a local resident, gives you his thoughts here.

and if its all getting a bit much for you?

YourBuy2Let.com give a very brief and simple overview of what might happen here.

So there we have it. You know my views, but what are yours? Feel free to comment below.

If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.

Email me on kevin@dansonpropertyservices.com or call on 020 3397 4499. If you are in the area, feel free to pop into the office – we are based on 116 High Street, Welling, Kent, DA16 1TJ. There is plenty of parking and the kettle is always on.

Don’t forget to visit the links below to view back dated deals and Welling Property News.

Follow The Buy-To-Let Property Investment Market in Welling

Welling Property Market LinkedIn Page

Danson Property Services Welling Facebook Page

Danson Property Services Welling Twitter Page

Welling Investment Property Specialist Danson Property Services Website

Find out how much is your Welling home worth. Click here for your FREE Instant Online Valuation

A Welling Landlords view on the banning of Tenant Fees

Welling resident and local landlord Nathan Hewish, and customer of ours at Danson Property Services, gives his opinion on the banning of fees to tenants.

"Unless you are a Letting Agent, you're probably wondering what all the fuss is about. Less Letting Agent fees means less money needed to rent a property, it's obvious, isn't it?

Here's my take on the situation. From a private Landlord's perspective the BTL (Buy To Let) sector of the residential housing market has taken an unprecedented battering over the past two years. Lending criteria are stricter than they have ever been in the form of the Mortgage Market Review and this will worsen in 2017. Also, the amount of legislation has increased ten fold with things like Deposit Protection Schemes for tenants, legionella safety checks, carbon monoxide checks, right to rent checks, just to name a few. But the most memorable for myself is a strange, almost illegal, tax system that was introduced by the now defunct Chancellor George Osborne. 

So, what do the changes I've mentioned mean to the average private landlord? More money and more time will be needed to service their existing rental properties. If you're not a private landlord and you or someone you know is affected by housing issues such as high prices or lack of housing stock, you probably think that hammering landlords and letting agents is a good thing. However, all it will do is reduce housing stock in the PRS (private rented sector) pushing up demand for housing, and prices will rise further. How do I know this? I've either sold or am in the process of selling half of my BTL portfolio to date. Good riddance I hear you say? Well not really because the reality is 80% of the properties have gone to first time buyers and the other 20% to BTL landlords, therefore leaving only a fraction of the property sold available for the PRS. Tenants locally now have less potential property to rent because of my exit from the industry, and if other landlords do as I do, tenants will have even less choice. 

Who ultimately suffers now? The prospective tenants looking for somewhere to rent will suffer the most. So, in hindsight George Osborne et al's reforms will end up affecting the people they were trying to protect.

So, in conclusion the introduction of banning tenant fees will indirectly fall back onto the tenants over time, as landlords are forced to increase rents to pay the potential increased fees of some Letting Agents, because I doubt Letting Agents will work six days a week for less money. So there you go, less Letting Agent fees to the tenant will not necessarily result in less money needed to rent a property."

If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.

Email me on kevin@dansonpropertyservices.com or call on 020 3397 4499. If you are in the area, feel free to pop into the office – we are based on 116 High Street, Welling, Kent, DA16 1TJ. There is plenty of parking and the kettle is always on.

Don’t forget to visit the links below to view back dated deals and Welling Property News.

Follow The Buy-To-Let Property Investment Market in Welling

Welling Property Market LinkedIn Page

Danson Property Services Welling Facebook Page

Danson Property Services Welling Twitter Page

Welling Investment Property Specialist Danson Property Services Website

Find out how much is your Welling home worth. Click here for your FREE Instant Online Valuation