New Home by Christmas!
Santa may be enjoying some well deserved rest and relaxation on a lovely Welsh beach, but now is the time for homeowners wanting to move in time for his next visit to be taking decisive action! With the average time to sell a home in Wales being 68 days you may feel you have plenty of time but unfortunately the average time for conveyancers to complete a transaction from the point of sale agreed is now 154 days! Meaning for those just coming to market now it might mean a move in the New Year and of course for those already on the market but struggling to sell then a change of strategy now is essential. Increased Activity The Principality have reported an increase of transactions in the first quarter of 2025 compared to the same period of 2024 of around 20% and rightmove continue to publish data supporting anincrease in overall buyer demand. However, they have also indicated an increase in the number of homes coming to the market of 11% year on year. Despite the increase in buyer demand generally across the UK and the increase in transactions across Wales the average time to sell remains high and this is leading to an increased level of choice for buyers, making the market incredibly price sensitive. Interestingly Rightmove reports that those houses coming to market and receiving enquiries within the first 24 hours are 22% more likely to sell than those that do not receive immediate interest. Falling Average Prices The increase in competition that is outpacing the increase in buyer activity is reflected in the data shared by the Principality in the quarter one price index, which shows that average house prices in Pembrokeshire are down 4.8% year on year, while Carmarthenshire is down 2.3% in the first quarter of 2025, with Ceredigion down an eyewatering 10.1% in the same period. However, the increase in transaction levels and overall buyer activity can give us all some reassurance and when you monitor the local markets closely you can see that properties that are coming to the market now at sensible prices are being sold and even those that have previously struggled are able to attract fresh interest when marketed well. So Why Isn’t My Home Selling? (it isn’t always your price) We are aware that there are lots of homeowners who have been trying to sell their home now for far more than the average 68 days and if you are one of these unlucky home movers then you are probably wondering why? There are a whole host of reasons why your home may not be selling and we would encourage anyone in this position to review these factors before deciding to adjust their marketing price. Here are just four of the factors you should consider before changing your price; Quality of photography. In this digital age home searching is not immune to our decreasing attention spans, with the swipe right culture applying to home searches too. You only get a few seconds to make a good impression on apps like Rightmove and OnTheMarket. It is therefore really important that your photos are the best quality and eye catching. Although the tried and tested front of house photo is a great option it is also a good idea to mix it up a little and if you have a feature that is sure to be a real crowd pleaser then you should consider using this as your lead image. We like to review the performance of our adverts weekly and if needed rotate around the images we are using. We typically have around 60-80 images on file although we don’t use them all at once this means we have a stock library we can use to keep our adverts fresh. Floor plans and land plans. Sounds basic but believe it or not some agents still do not include these as standard. If you don’t have one, speak to your agent ASAP and get one added to your adverts. Social media exposure. These days most agents will have a Facebook page, but many of them do not leverage them properly to get the best reach and exposure for their clients. Using a multi-platform strategy that includes, Facebook, Instagram, TikTok, LinkedIn and YouTube agents can reach tens of thousands of potential buyers. We consider this a great way to reach a more ‘passive buyer’, someone who is interested in moving but is not quite at the stage where they are checking the property portals twice daily for new listings. It is also a great way to show potential buyers properties that are outside their current search criteria. When I started in agency there was no computer searches and as an agent we would always tell buyers about properties in the next village over or one just outside their budget, the likes of Rightmove cannot do this, but we have found by using our tried and tested techniques we are able to replicate this through our social media campaigns. Property Videos. Professionally produced video tours are a useful way to showcase a home and are loved by property buyers, who say they help them to get an honest feeling for how the property flows and for the ‘feel’ of the home. In addition to sharing videos on our website and on property portals we have found they are a great tool to use in combination with our social media strategies, with increased reach and engagement from video on many platforms. By reviewing your current marketing position and implementing a detailed plan it is possible to revitalise a floundering campaign. We have had some recent success with houses that had been on the market for some time with other agents and thought you would be interested to see some examples of our success stories. The two examples above show how we have generated results for our clients. Both properties had been on the market for an extended time with other agents
5 Tips for Spring Cleaning Your Home
🌸✨ 5 Tips for Spring Cleaning Your Home ✨🌸 Spring is the perfect time to refresh your space! Here are 5 tips to help you tackle your spring cleaning like a pro. 🧼🧹 Declutter First 🗑️: Before you start cleaning, go through each room and get rid of items you no longer need. It’ll make cleaning a lot easier! Focus on High-Traffic Areas 🏠: Start with spots like the kitchen, bathroom, and hallway where dirt builds up most. Don’t Forget the Walls & Ceilings 🖤: Dust and cobwebs can gather in overlooked areas. Grab a microfiber cloth and give your walls and ceilings some love. Deep Clean Your Windows 🪟: Let the sunshine in by cleaning your windows inside and out. A good clean can brighten up your entire home! Refresh Fabrics & Upholstery 🛋️: Wash curtains, cushion covers, and deep-clean your sofa to remove built-up dust and dirt. You’ll be amazed at the difference! Ready to get your home sparkling for spring? 🌷✨ Let’s make your space shine! #SpringCleaning #FreshStart #CleanHomeHappyHome #SpringVibes #HomeTips
Top 6 Staging Props to Help Sell Your Home Fast
🏡✨ Top 6 Staging Props to Help Sell Your Home Fast ✨🏡 Want to make your home irresistible to buyers? Here are the top 6 staging props to elevate your space and make a lasting impression! 🇬🇧 Fresh Flowers 🌸: A bouquet of fresh blooms adds instant warmth and life to any room. Opt for soft, neutral colours to keep things fresh and inviting. Mirrors 🪞: Mirrors reflect light and make smaller spaces feel larger. They’re a quick and easy way to brighten up your rooms. Throw Cushions & Blankets 🛋️: Add texture and comfort with soft throws and cushions. Go for neutral tones to create a cosy, welcoming vibe. Stylish Rugs 🧺: A well-placed rug ties a room together and adds an extra layer of warmth and style. Artwork 🎨: Choose simple, neutral artwork that complements the space. It adds personality without overwhelming the room. Scented Candles 🕯️: A light, fresh scent can make a huge difference when potential buyers walk through your door. Choose calming scents like lavender or eucalyptus. Ready to stage your home for success? Let’s make your listing stand out! 📲 #HomeStaging #SellYourHome #StagingProps #RealEstateUK #HouseSellingTips #PropertyGoals
5 Tips for Selling Your Home this Spring
🌸🏡 5 Tips for Selling Your Home this Spring 🏡🌸 Spring is here, and it’s the perfect time to list your home! Here are 5 tips to help you sell quickly and for the best price: Boost Curb Appeal 🌷: Freshen up your garden, trim the lawn, and add some colourful flowers to create a welcoming first impression. Let the Sunshine In ☀️: Open up windows, clean your glass, and let natural light flood your rooms—it’ll make your space feel bright and inviting. Deep Clean & Declutter 🧹: Give your home a fresh, clean start by removing clutter and deep-cleaning every corner. Less is more! Highlight Spring Vibes 🌿: Add seasonal touches like fresh flowers, light throw pillows, or airy curtains to create a warm and inviting atmosphere. Price It Right 💰: Work with your agent to price your home competitively. The right price attracts more buyers! Ready to make the most of this spring market? Let’s get your home SOLD! 📲 #SpringSelling #RealEstateTips #SellYourHome #SpringVibes #HomeSellingTips
8 Ways to make your Home Smell Good!
Can the smell of coffee and freshly baked bread really help sell a house? It may sound a little cliché, but there is an element of truth behind the theory that smells sell homes. Here are 8 of the best smells that will make your house feel welcoming to potential buyers: ✔️ Baked Cookies ✔️ Scented Candles ✔️ Essential Oils/ Diffusers ✔️ Fresh Flowers ✔️ Coffee ✔️ Baked Bread ✔️ Orange & Lemon Slices ✔️ A Clean Home
Is March a good time to sell my home?
🌸✨ 5 Reasons Why March is the Perfect Time to Sell Your Home ✨🌸 🌸 Spring Market Surge: The real estate market starts to heat up in March, with more buyers actively searching for their dream home. 🌱 🌸 Warmer Weather: As the weather warms up, your home’s curb appeal shines with blooming flowers and lush greenery, making a great first impression! 🌷 🌸 Longer Days: With more daylight, your home will be shown in natural light for longer, highlighting its best features. 🌞 🌸 Less Competition: With fewer homes on the market early in the season, your listing stands out more to potential buyers. 🏡 🌸 Motivated Buyers: Spring is a time of new beginnings, and buyers are eager to move into their next home before summer hits! 🌼 Ready to sell? Let’s chat! 📲 #MarchMarket #SpringSelling #SellYourHome #RealEstateTips #NewBeginnings
Decorating Secrets on a Budget!
Are you looking for ways to spruce up your home but don’t want to break the bank? Here are 7 decorating ideas that will help you refresh your living area without spending too much: 🏠 Switch Out Your Throw Pillows – One of the easiest ways to update your space is by swapping out your throw pillows. With so many different colours, sizes, and material choices available, you can easily find something that fits in with the design of your home. 🏠 Hang Up Some Wall Art – If you want to make a statement without spending too much money, wall art is a great way to do it. You can get creative and make art yourself or purchase one from an online shop or a thrift store. 🏠 Upgrade Your Lighting Fixtures – Another simple way to update any room is by replacing old lighting fixtures with newer ones. Changing these out can instantly change the mood of a space; try installing dimmers so you can adjust the light depending on the occasion. 🏠 Refresh Your Furniture – Have an outdated piece of furniture taking up space in your living area? Consider giving it new life by repainting it or adding some new hardware or knobs to it! This is also an excellent opportunity for those who love DIY projects – check out tutorials online for ideas on how you can transform something old into something new! 🏠 Invest In Quality Rugs – An area rug is another item that can really spruce up a living area on a budget; just make sure that you invest in quality rugs since they will last longer than cheaper alternatives. 🏠 Add Plants To The Mix – One of the easiest ways to liven up any space is by adding plants! Not only do they add color, they also purify air while helping reduce stress levels – what more could you ask for? 🏠 Reorganize The Room – Finally, if you’re looking for an easy way to freshen up any room in your house without having to spend money (or time!), consider rearranging furniture pieces around the house instead! Rearranging items around the house may not seem like much but it could actually make a huge difference in terms of how big (or small) each room feels – and best of all, it’s totally free!
Spring is Around the Corner!
With Spring around the corner there are early signs of life in the housing market! As the Snowdrops and Daffodils have started to show signs of life throughout our beautiful countryside so too is the housing market showing significant signs of improved buyer activity. As the owner of a Welsh Property we thought you might be interested to read about what has been happening in the market locally and how the housing market is fairing after a period of extended uncertainty. The Bank of England’s recent decision to lower the base interest rate to 4.5% has significant implications for the Welsh property market. While the move would typically be positive for the prime Welsh property market we have to consider the broader economic pressures and give careful consideration to the combined impact on the housing market. The rate reduction, while intended to stimulate economic activity, presents a nuanced picture for those looking to purchase properties. On the one hand, lower borrowing costs could make financing larger mortgages more attractive, potentially increasing demand across market. This could, in turn, support property values in sought-after areas of Wales known for their exclusivity and natural beauty. However, it is crucial to remember that fixed mortgage rates, which are often preferred by borrowers, haven’t necessarily followed the base rate downwards. In fact, they’ve been trending upwards. This means that while the Bank of England’s move suggests a desire to ease financial conditions, the actual cost of borrowing for a property might not decrease proportionally Experts predict a potential rise in inflation later this year, which could influence future Bank of England policy, however many experts are predicting as many as three or four more cuts this year, with some expecting the base rate to be around 3.5% this time next year. While the recent rate cut may be beneficial in the short term, the long-term economic outlook remains subject to change and higher levels of inflation may erode the positive impact of any cuts we see this year. Locally we have had to contend with changes to council tax and whatever your political opinion on second home ownership it has undoubtedly impacted house prices in regions where councils have introduced council tax premiums, with the Principality Building Society reporting a drop in average house prices in Gwynedd of over 12% while Pembrokeshire has seen a fall of 8.9%. While Carmarthenshire has seen a increase last year of 9.2%, the local council has now decided to introduce a premium of 100% on council tax for second homes from April this year, an increase from the 50% premium currently applied. Second home owners who have marketed their properties for sale over the last twelve months have avoided this premium, but as the twelve month grace period comes to an end this year it will be certain to continue to impact the markets locally. Despite all this the number of sales across Wales were up 28% year on year, showing a clear message of consumer confidence despite the obvious challenges and giving hope that the market will continue to strengthen throughout 2025 and homeowners looking to move will be able to find buyers. There has also been a positive start to 2025. With an increase in buyer activity reported widely and a stability in fixed mortgage rates helping to maintain affordability there is reason to be cheerful and despite the increase of new listings (Rightmove has reported an increase of 11% compared to the same period last year) there is every reason to feel optimistic about selling in 2025. However, with an increase in competition with more homes on the market, in order to achieve the best price for your home in 2025 you and your agents will need to consider your strategies carefully and ensure they have robust processes designed to leverage the best offers from buyers. Your marketing price will need to be considered carefully, to ensure it is attractive enough to entice buyers, while still allowing room for negotiations, demonstrating a clear understanding that the market continues to be sensitive to local, national and global economic conditions and the impact that has on your potential buyers. Your agent will need to work harder to ensure your property presentation is the best it can be, using perfect professional photography and video to grab buyers attention and entice them to view, combined with clever carefully crafted strategies and processes to leverage the very best offers. If you have been thinking about selling in 2025 and would like to talk to us about how we can improve your chances of finding a buyer and achieving a great price then get in touch and we will gladly pop along for a chat to answer any questions and talk you through our strategies and processes that have helped other homeowners looking who were selling homes like yours. How to make sure you sell in 2025 With an improving market 2025 is likely to offer a great opportunity to anyone who has been trying to sell in 2024, but with average house prices still 3.1% down on the peak in 2022 despite a rise of 2.5% in Q3 of 2024 there are still likely to be challenges. With more properties on the market for sale now than at any point in the last few years there is certainly likely to be continued competition meaning homeowners wanting to sell for a premium need to make sure there property stands out and that their agent is doing all they can to promote their property widely. We have developed a comprehensive social media strategy that compliments our more conventional marketing through Rightmove, Zoopla and OnTheMarket and helps us to reach literally hundreds of thousands of potential buyers every month. By promoting our clients properties to a wider passive market in addition to those actively searching the portals we are able to give them the best chance possible of achieving a sale at the best possible price. On Facebook alone our clients properties
Post Autumn Statement Announcement
2024 has been a challenging year for many, with lots of uncertainty. A year of higher interest rates, various wars around the world, a general election and an autumn budget that we had to wait for what felt like an eternity for. But as we approach the end of the year what does it all mean for the Welsh Property Market and what is in store for 2025. In my time as an agent I have worked through lots of peaks and troughs of the market, the boom of the early 2000’s followed by the financial crash and the credit crunch that followed, Brexit and of course the Covid pandemic. The one thing in common throughout all of these periods is that there were always people wanting to sell and people looking to buy and 2024 has been no different despite all its challenges. The other thing I have noticed is that however bad the news might be it seems the uncertainty that comes with pending elections, budgets, Brexit votes or the uncertainty of the aftermath of a large scale event, like Covid or the financial crisis, is worse than the event itself, ok let’s forget Liz Truss’ mini-budget of 2022 that caused havoc for a while – that was fairly unique, thank God! If we think about it logically the housing market has remained resilient and showed consistent growth over the last century despite all the predictions of many that house prices are out of control and cannot continue to grow as they have. However in the short term these events have all impacted the market, but often that impact is simply homeowners looking to sell, or those thinking about buying, putting things on hold for a while. Waiting 3 months to see what happens after an election for example does very little to impact on the individuals moving plans, but when enough people make the same decision it can shift the balance of the housing market one way or another. At the start of 2024 we all hoped for an improvement on the previous year and as the market warmed up in Spring we were all surprised by the announcement of a July General Election. Many people who had been planning to sell then decided to wait to see what happened at the election. The election came and went and the markets all reacted positively, the housing market was no different. Interest rates were cut and the housing market started showing signs of significant recovery with buyer confidence high. However this was soon quashed with the announcements being made by the new Government that the forthcoming Autumn Budget would be painful, what followed was a Summer and Early Autumn of uncertainty and nervousness and sellers and buyers putting things on hold while they wait to see what happens. So what did the budget mean for the housing market? Capital Gains Tax (CGT), rates were increased for non-property assets, which could impact homeowners with large amounts of land, otherwise it remains at 18% (basic rate) or 24% (higher rate) on residential property. Inheritance Tax (IHT), no major changes for residential property. The threshold of £325,000 remains, with higher allowances for spouses, civil partners and children. However changes to Business Property Relief could impact those with business premises or agricultural property they are hoping to pass through the generations. Stamp Duty/Land Tax, although this has been changed in England the Welsh Government have not yet announced their decision on what they will be doing, so for now Land Tax in Wales remains unchanged, we will have to wait until 10th December to discover their decisions when they publish their budget. Although there have been some tax increases and I realise many small businesses in particular may find the change to national insurance difficult to manage it has not been as painful as many expected, especially in the context of the housing market. The Bank of England monetary policy committee opted to cut interest rates again at the start of November, with many experts predicting further cuts this winter. Goldman Sachs recently predicted that interest rates in the UK could drop to 2.75% by the end of 2025. If these rate cuts occur they could help to make the budget news a thing of the past and provide significant relief for mortgage holders, boosting affordability and encouraging more activity in the property market. Transaction levels across Wales are up 11% in Q3 2024 compared to Q3 of 2023 and in our experience at the ‘coal face’ of the market and also looking at data from rightmove there has been a further increase in activity since the budget and subsequent cut in interest rates. So as we approach 2025 on the back of increasing, but still relatively low, number of transactions during 2024, it is reasonable to expect that falling interest rates and a lack of distractions will lead to more buyer activity in 2025 and as buyer confidence grows and interest rates fall the balance is likely to tip further toward at the very least a balanced market and we could even dream of a market more in favour of sellers once again. How to make sure you sell in 2025 With an improving market 2025 is likely to offer a great opportunity to anyone who has been trying to sell in 2024, but with average house prices still 3.1% down on the peak in 2022 despite a rise of 2.5% in Q3 of 2024 there are still likely to be challenges. With more properties on the market for sale now than at any point in the last few years there is certainly likely to be continued competition meaning homeowners wanting to sell for a premium need to make sure there property stands out and that their agent is doing all they can to promote their property widely. We have developed a comprehensive social media strategy that compliments our more conventional marketing through Rightmove, Zoopla and OnTheMarket and helps us
The Forecast is Good!
As I write this the weather is glorious and Wales is looking at its spectacular best and despite what the Met Office tells me about rain around the corner I know the forecast is looking good! Ok, so maybe not the weather forecast but the prime property forecast is certainly looking positive. The Bank of England has today announced the reduction in the base rate from 5.25% to 5.0%, the first time in over four years we have seen the rate cut. Nationwide have announced that house prices are rising at the fastest rate we have seen for 18 months and Zoopla is predicting an increase in average house prices of 2% across the UK in the second half of the year. Even better news is that the average time to exchange from sale agreed is now the lowest it has been all year and at under 120 days meaning there is still time for you to be in your new home before Christmas, but you will need to take decisive action. If this isn’t the first time you have received a market update letter from me you will recall that around 8 weeks ago I predicted the cut in the base rate and a buoyant Autumn market. Just after publishing the report the General Election was called and the result of the election has had a pleasant unexpected immediate impact on the housing market with an obvious increase in buyer activity which has lead me to now bring forward my prediction of a buoyant Autumn market to include the remainder of the Summer, possibly this immediate increase is a consequence in the pent up demand that we referred to in our last report caused by so many people waiting for inflation to settle down before making a move meaning there were probably a lot of people delaying their move from 2023 who are now becoming active. With more properties coming to market there is now more choice for home movers but with sales volumes up 16% and set to increase it is likely we will see a market more tipped in favour of sellers than we have seen over the last 18 to 24 months. That said the average price of property coming to the market is down 0.4% as sellers are keen to attract the best buyers, adding to the importance of making sure your marketing price is competitive in todays market. So Why Isn’t My Home Selling? We are aware that despite this optimism and positivity there are lots of homeowners who have been trying to sell their home now for far more than the average 59 days and if you are one of these unlucky home movers then you are probably wondering why? There are a whole host of reasons why your home may not be selling and we would encourage anyone in this position to review these factors before deciding to adjust their marketing price. Here are just four of the factors you should consider before changing your price; Quality of photography. In this digital age home searching is not immune to our decreasing attention spans, with the swipe right culture applying to home searches too. You only get a few seconds to make a good impression on apps like Rightmove and OnTheMarket. It is therefore really important that your photos are the best quality and eye catching. Although the tried and tested front of house photo is a great option it is also a good idea to mix it up a little and if you have a feature that is sure to be a real crowd pleaser then you should consider using this as your lead image. We like to review the performance of our adverts weekly and if needed rotate around the images we are using. We typically have around 60-80 images on file although we don’t use them all at once this means we have a stock library we can use to keep our adverts fresh. Floor plans and land plans. Sounds basic but believe it or not some agents still do not include these as standard. If you don’t have one, speak to your agent ASAP and get one added to your adverts. Social media exposure. These days most agents will have a Facebook page, but many of them do not leverage them properly to get the best reach and exposure for their clients. Using a multi-platform strategy that includes, Facebook, Instagram, TikTok, LinkedIn and Youtube agents can reach tens of thousands of potential buyers. We consider this a great way to reach a more ‘passive buyer’, someone who is interested in moving but is not quite at the stage where they are checking the property portals twice daily for new listings. It is also a great way to show potential buyers properties that are outside their current search criteria. When I started in agency there was no computer searches and as an agent we would always tell buyers about properties in the next village over or one just outside their budget, the likes of Rightmove cannot do this, but we have found by using our tried and tested techniques we are able to replicate this through our social media campaigns. Property Videos. Professionally produced video tours are a useful way to showcase a home and are loved by property buyers, who say they help them to get an honest feeling for how the property flows and for the ‘feel’ of the home. In addition to sharing videos on our website and on property portals we have found they are a great tool to use in combination with our social media strategies, with increased reach and engagement from video on many platforms. If you have been trying to sell without success and would like a free, no obligation review of your current marketing campaign get in touch – daniel.thomas@luxurywelshhomes.com