Tring & Villages local property insights

Do higher temperatures affect house prices?

It is widely accepted that the warmer months in spring and summer bring with them spikes of activity in terms of the buying and selling of properties. A new piece of research has taken this one step further, however, and directly linked an increase in temperatures to increases in house prices.

The research conducted by a national estate agent firstly looked at seasonal differences in selling prices, and it comes as no surprise that the summer season posted the highest average selling price. In Winter 2018, the average selling price was £291,810 and this increased to £293,347 in spring time. Summer average sale prices increased once more to £301,321 and prices during the autumn period fell to £289,833.

With seasonal changes prevalent in terms of property pricing, it is the temperatures themselves which the research then looked into. The data shows a direct correlation between price decreases between January and February as the temperatures cool, and similar changes are recorded as both temperatures and prices consistently increase from February through to July.

When analysing the seasonality on a financial level, the research shows that selling prices increase by £2,150 for every single degree of temperature change. For every degree that the temperature increased, this represented an extra £1,461 in sold price; however, the drop-off in temperatures increased to £2,838 for every degree colder.

Shepherd Ncube, founder and CEO of Springbok Properties, commented: “The seasonality of the national property market is widely discussed as patterns of buyer and seller behaviour dictate market activity and ultimately the price achieved. However, it seems that something as external to the property as temperature itself also has a direct correlation.”

“With spring now officially sprung, we should start to see the Brexit price growth freeze thaw.”

How many viewings will it take to sell your home?

 When listing a home for sale, we all cross our fingers and hope that someone will make an offer within the first few weeks and everything will be wrapped up neatly and quickly.

In reality, selling a home can take some time and your best approach is to present your home in its best light and have patience.

But how long on average does it take to sell a home?

New research has tried to answer this question and found that vendors are underestimating just how many viewings they will have before someone makes an offer.

In a recent survey, Quick Move Now, quizzed the public asking them how many viewings it would take to sell a house.

It was found that just over half of respondents (54.7%) believed that it would take six viewings or less before their home was snapped up.

According to data from Quick Move Now, this estimation is off the mark by some distance, as it was found that the average number of viewings before a home is sold is more than three times that amount at 19 viewings.

It was also found that this number has risen significantly over the past 3 years from 11 to 19, suggesting that over time buyers have become more patient and thorough when searching for a home.

The company’s director – Danny Luke – commented “It’s clear that the public are vastly underestimating the average number of viewings it takes to sell a property. 54.7 percent believe properties sell in an average of six or less viewings, and with 30.54 percent of the public listing the time it takes to find a buyer as their biggest worry when selling a property, it seems it is an area of concern for many people.”

Luke went on to say: “...a significant proportion of homeowners still assume that selling their property on the open market is the only option available to them. That is simply not the case.”

It is worth noting that other studies on the subject have found that the viewings don’t always go into double digits. It can also depend on where you live, as previous studies have found that homes in the north take less viewings than homes in the south.

Data released last year from Rightmove, revealed that the average time overall to sell a home was 62 days, which is just short of 9 weeks.

There are a few things you can do to get your home sold a little faster, such as clearing the clutter and staying on top of the cleaning. Doing all you can to make your home seem like a bright open space is vital.

For more help on how to present your home in its best light, you should talk to us.

Top tips for your garden

 We all love that summer pleasure of sitting outside and enjoying the feeling of the sunshine on our skin, yet despite this melanin-inducing activity being a firm favourite, many of us shy away from gardening. Here are a few tips to help revitalise your garden or outdoor space, just in time for the summer!

1) The right grounding

Before you go out and start purchasing new flowers and shrubs to zhoosh up your garden, it is important to have an idea of the soil that you will be planting in. Different plants will thrive in different environments, and the consistency of your soil will be a key player in this; is your soil light and sandy or heavier with elements of clay? This, as well as the amount of light which the new plants will receive, should be kept in mind before you go and make any expensive purchases.

2) Put the ‘plan’ in ‘plant’

That old adage of “fail to plan and plan to fail” exists for a reason; it rings true amongst many of us. The same is applicable for when you are upgrading your garden – planning on how you are going to use the space will mean that you maximise your outdoor area. Decide what you are going to use the space for and segment it appropriately; eating areas, planting areas and water features all make a garden more pleasant; however, if there is not enough room between each then the space becomes overcrowded and less appealing.

3) The perfect lawn

When we think of a quintessential British garden, we immediately think of a lush and healthy grassy area. If you’re yearning for a luscious lawn, then ensure that you water your green areas regularly – the optimum time to water the area is between 4am and 8am. If we are lucky enough to have another hot summer like last year, then remember that any temperature above 30 degrees will stunt growth and temperatures from 26 degrees onwards will not benefit your lawn – therefore keep the grass a little longer which will prevent the soil from drying out.

4) Sitting areas

One of the easiest ways to spend a little more time in your garden is to create an outdoor sitting space; from simply installing a table and chairs, to installing a full decking area this can transform your outdoor space. If you already have a suitable surface such as paving or decking then purchasing a table and chairs will be an inexpensive way to create outdoor living space, but don’t despair if you need to spend a little more to create suitable grounding for your table. Buying stones or pebbles and some tarpaulin to lay them upon is a very cost-effective manner to provide a nice zone for seating – look in your local supermarkets as well as the DIY stores as they often provide better value for money during seasonal offers.

5) A shed load of storage!

If you’re looking to make the most of your garden this spring and summer, then a shed might seem like it should be the last item on your list of priorities. However, a shed can offer valuable storage and organisation to your garden that will encourage you to make the most of the space; having your gardening tools easy to access and your outdoor supplies organised will make your outdoor living much easier. In addition to this, a shed can be a beautiful piece of garden architecture; go bold on the colour and choose pastels such as blue or pink for that country cottage kind of chic that looks wonderful in all types of garden. In addition, adding some stylish bunting to the shed will enhance the overall aesthetic, and can be extended to other parts of your garden to create a more cohesive look.