Once the lockdown restrictions eased during summer 2020, the UK housing sector experienced a mini boom. Far from damaging the property market, the lockdown had both exacerbated pent-up demand for property while also kindling a fresh demand for properties outside city centres, especially dwellings with a garden or a spare room
North West construction and maintenance business, HMS, is delighted to announce the appointment of Alison Brown as Maintenance Director. Bringing over 30 years’ Social Housing experience to the role, Alison has a wealth of knowledge of the Repairs and Maintenance sector. With a Masters in Business and a degree
Consumerism has given rise to a massive problem of waste. Single use plastic, food wrappers, packaging, paper wipes, empty bottles and everything else we throw away ends up in landfills and keep piling up. At the rate humans are producing waste, it is not long before the planet runs out
Significant progress is being made at Panattoni’s Wakefield515 site, where steel is already up on the largest speculative development in the north for 10 years. Caddick Construction, Panattoni’s build partner for the landmark Yorkshire project, is on site to progress the 515,820 sq ft warehouse. The steel framework is now
Major engineering milestone completed this weekend (24-25 October), as a 45 metre, 914 tonne modular bridge was driven into place over the A446 in Solihull. Designed in a virtual world, the bridge took only 45 minutes to be driven into place. The A446 has been reopened 24 hours earlier than
Story Homes and Story Contracting have joined forces to raise more than £28,000 for mental health charity Mind. Over the past two years, the companies selected Mind as their charity partner, with all staff and business fundraising going to this worthwhile organisation. Staff across the two businesses carried out various fundraising activities to raise money for
With greater societal focus on the issue of climate change, the pressure is on governments, businesses and other key decision makers to react and introduce initiatives that will contribute towards a greener planet. The UK government, for its part, has taken steps to address the impact our lifestyles have on
Toughened glass is a great material to incorporate into your home interior. It provides any living space with the same visual appeal and elegance as standard glass, plus the added safety benefits. In addition to that, it’s incredibly versatile and suits a large range of uses, from home furniture to
A fixer-upper can be an excellent compromise for people who want control over their home design but lack time to build from scratch. An added benefit is that it gives you the option of moving into a neighborhood you prefer. Additionally, a fixer-upper sells for a much lower price than
Sales of £1m-plus homes have surged since lockdown as affluent buyers look for more space and lifestyle change, with two-thirds more deals agreed in the past four months than in the same period last year. An average of 868 £1m-plus sales have been agreed each week since the beginning of
Once the lockdown restrictions eased during summer 2020, the UK housing sector experienced a mini boom. Far from damaging the property market, the lockdown had both exacerbated pent-up demand for property while also kindling a fresh demand for properties outside city centres, especially dwellings with a garden or a spare room for a “wok-at-home” office. Simultaneously, the government proposed a radical overhaul of the planning system, which promises to free up more land for major housing developments. UK developers are currently taking Mark Twain famous advice to, “buy land, they’re not making it any more”. In anticipation of significantly looser planning laws, developers are now scrambling to secure suitable land for development. Landowners are therefore being approached with very attractive offers. However, these offers often come with strings attached. Some developers wish to effectively secure an option to develop land in the future, should planning be obtained and the market remains favourable. Other developers are willing to purchase land where permission is in place, but they often want to defer a substantial proportion of the payment for it. For example, a housing developer might offer to buy land from a farmer for £10 million, to be developed for housing. However, This attractively high offer comes with a caveats: More and more frequently the developer wants to make the payment in a number tranches spread over five years. (Typical arrangements vary between 2-5 years, usually involving 3 or 4 tranches of payment.) The developer may (with good reason) justify spreading out the payment by citing cashflow issues or uncertainty around planning permission or the timescales involved. Yet if the developer goes bust, the landowner may be unable to obtain the contractually agreed payment unless they have certain security protections in place. In such a scenario, how can the landowner best protect their interests? Landowners can protect themselves in several ways. Firstly, the sale could be structured so that it does not complete until all the payments are received. If that cannot be agreed, the landowner can be protected by placing legal charges on the land, which may enable it to be recovered in whole or part in the event of non-payment. Land Registry restrictions could also be placed on the land. It may even be possible to hold back a few houses, or a strategic part of the site, as security against non-payment by the developer. Where deferred or staged payments are agreed, the landowner should also ensure that they will not be adversely impacted by tax liabilities. There is a real risk that the landowner may become liable for the full Capital Gains Tax (CGT) – as calculated on the total purchase price – at the time of legal completion. However, if staged payments are in place, the seller may only have received part of the proceeds of sale and so may not have enough to pay the CGT bill. For its part, the developer will understandably want to ensure that any mechanism of security being used won’t hold up its plot sales or slow up the conveyancing process to the end user. In terms of how a staged payment deal is structured, the needs of the landowner and the developer can sometimes seem to be in direct opposition. However, it’s important that the parties do not lose sight of the fact that a mutually beneficial one should be attainable. When the respective parties’ advisors take a positive, collaborative approach, it is usually possible to find a solution which works to the benefit of both parties. Negotiating a workable deal invariably requires trust. Sharp practice by some developers (and occasionally the landowner!) can result in deals breaking down. Too often, the developer’s request to defer part of the payment comes after an option or contract has already been exchanged. Sometimes, a developer may attempt to present the landowner with a fait accompli in terms of the payment structure. It’s therefore advisable for landowners to obtain expert legal and tax advice early. Landowners are often unfamiliar with the tactics used by developers. In order to negotiate a favourable deal, landowners need to work with advisors who have recent experience acting for both developers and landowners. Even where the buyer and seller’s expectations are not completely aligned at the outset of a negotiation, good agents and solicitors can create solutions which work to the benefit of both parties. Robert Sprake is a specialist lawyer in real estate and residential property development at Excello Law www.excellolaw.co.uk
North West construction and maintenance business, HMS, is delighted to announce the appointment of Alison Brown as Maintenance Director. Bringing over 30 years’ Social Housing experience to the role, Alison has a wealth of knowledge of the Repairs and Maintenance sector. With a Masters in Business and a degree in Housing Management and Development, she has had multiple senior roles in the social housing sector, in both public and private sector organisations. Discussing her appointment, Alison said: “Since being a teenager, I decided I wanted to work in the social housing sector, after having a weekend job working in an Extra Care Supported Living Scheme and seeing the impact quality homes had on people’s lives .” This early passion for Social Housing has seen Alison cultivate an extensive track record of improving services for clients, across the country. Alison continues: “What attracted me to the role at HMS is the opportunity to be part of an organisation that seeks to balance commercial drive with a real customer service focus. “The HMS operating model of improving existing services and its social commitment to the people who live and work in its communities’ is unprecedented and is one that really contributes towards improving the lives of the people of Liverpool, St Helens and Warrington. “They have a genuine drive to increase employment opportunities for local people through initiatives like worklessness programmes, apprenticeships and Women in Construction, together with an ongoing commitment to training and upskilling the whole team, so that its legacy supports the vital work of the Torus Foundation. This is something that resonates deeply with me as it is vital that we continue investing in our existing staff and future talent. “I’m looking forward to contributing to HMS’ success and growth as one of the leading Maintenance and Construction organisations in the region.” Managing Director of HMS, Paul Worthington, said: “The whole team is thrilled to welcome Alison onboard and utilise her unique experience to continue our expansion. This is a fantastic opportunity for us all and I know that Alison will support our corporate plans for growth so we can reinvest our profits to further increase our social impact so our communities’ can continue to thrive.”
Consumerism has given rise to a massive problem of waste. Single use plastic, food wrappers, packaging, paper wipes, empty bottles and everything else we throw away ends up in landfills and keep piling up. At the rate humans are producing waste, it is not long before the planet runs out of space and thus, reducing waste production is the only way to go. If you are someone who goes around picking up thrown away furniture, wooden custom boxes, bottles etc, here are some fun upcycling ideas to transform trash to treasure. Bags Out Of Plastic However much you take the conscious decision of reducing packaging, there will be times when you simply can’t avoid a plastic packet. But instead of throwing them away, you can easily upcycle them and put them to good use. Collect and clean all your polythene bags, wrappers and other forms of plastic, even torn ones work. Lay them out flat and using a hot iron melt and mould them into a sheet of plastic. If needed layer up sheets for better reinforcement. This can be shaped into a sturdy shopping bag, waterproofing linings, packing etc. Crates For Storage, Display And Seating Discarded wooden crates are practically treasures as they can be put to many different kinds of uses. You can make the best of odd spaces such as under the bed and random nook by simply sticking a crate and storing things in it. It can keep your things sorted and thus, make it easier to find when needed. With a little basic carpentering skills you can convert multiple crates into a nice wardrobe for storage, a display unit for plants and such or even an affordable couch. If you do not want to put in the work, simply throw a cushion over it and use as a single-seater. Simply by adding some old fabric, these can be converted into pet beds for stray animals to take refuge in. Bottles As Décor While used bottles can be used to store drinking water, not all discarded bottles might be the safest for storing consumables. However you can put them to use in several ways. You can easily cut plastic bottles up, poke little holes and use them as planters or propagating pots for your garden. Smaller bottles, be it plastic or glass can be used to decorate. Throw in some pretty string lights o a candle and you have a beautiful light. These can also be painted, cut or decorated and made into pretty pieces to make your place look nicer and they also serve as great handmade gifts. Scraps for art Scraps of clothes, metals, single use cutlery and even electronic wastes such as chips and circuits, cables, wires etc can be repurposed into Halloween or Christmas decorations, stunning art pieces around your home, quirky gifts or even as art installations left outside for passers by to admire. You can use your old clothes to create fascinating patchwork rugs, bags, scarves and other pieces of clothing or décor. With a little imagination and work you can put every bit of non-biodegradable item into use and thus, effectively reduce the amount of waste that we leave out. Every little bit of effort goes a long way in better waste management and a cleaner planet
Significant progress is being made at Panattoni’s Wakefield515 site, where steel is already up on the largest speculative development in the north for 10 years. Caddick Construction, Panattoni’s build partner for the landmark Yorkshire project, is on site to progress the 515,820 sq ft warehouse. The steel framework is now fully formed and cladding being added. The warehouse facility located at the M62 and A1(M) junction will serve as a key strategic hub for future occupiers, offering access to major cities and ports across the north of England. Manchester, Liverpool, Leeds and the port of Immingham are all within a 90-minute drive of the facility. Up to 500 full-time jobs and £5.5 million will be brought into the local economy as an immediate result of Wakefield515’s construction, due to be completed by the end of Q2 2021. Wakefield515 is designed to offer maximum flexibility for logistics and distribution businesses. The cross-docked warehouse will provide occupiers with generous yards of up to 100m and will incorporate sustainable features, such as rainwater harvesting systems, a PV ready roof and LED motion sensor lighting. The building will be built to a BREEAM rating of ‘Very Good’ and EPC rating of ‘A’. Andy Preston, Development Manager for the project, said: “We are pleased to see such good progress on this important development. Wakefield515 will not only meet demand for large warehouse facilities along the M62 corridor but also contribute to economic development in the north. Construction work will provide an immediate boost for the area but the building’s benefits will be felt long after this phase is complete. We look forward to seeing it take shape.” Chris Wilson, Commercial Development Director at Caddick Construction, said: “It’s exciting to see construction now well underway in Wakefield in such challenging circumstances. Caddick is proud to be working with Panattoni on this landmark project that brings immediate job opportunities and real economic benefits to the region.” To view progress at the site or to find out more information please visit www.wakefield515.com
Major engineering milestone completed this weekend (24-25 October), as a 45 metre, 914 tonne modular bridge was driven into place over the A446 in Solihull. Designed in a virtual world, the bridge took only 45 minutes to be driven into place. The A446 has been reopened 24 hours earlier than planned. Durham-based Cleveland Bridge manufactured and supplied 220 tonnes of steel girders for the bridge, while Expanded’s off-site manufacturing factory in Nottinghamshire provided 80 precast concrete modular abutment blocks. Video, time lapse and photos available here: The second of four bridges to be completed on the site of HS2’s new Interchange Station at the heart of the new high-speed network, this new bridge will carry the A452 and form part of a major remodelling of the local road network. This will improve the circulation of traffic around the UK’s new high-speed railway, integrating the existing network with the new Interchange Station. Prime Minister Boris Johnson visited the Midlands site in September to mark the official start of construction for the HS2 project, and a further two bridges are nearing completion. Over 200 people are involved in this construction site, contributing to supporting jobs in the region. The bridge move was led by specialist engineering contractor Expanded and HS2 enabling works contractor, LMJV (Laing O’Rourke and J. Murphy & Sons Joint Venture). Also supporting the hi-tech process, a design joint venture involving WSP and Ramboll provided engineering and environmental services. By applying advanced digital capabilities to design all elements of the structure in a virtual world, they determined that the A446 road bridge would be built using a Design for Manufacture and Assembly (DfMA) strategy. After building the bridge in modular sections, the final part of this process was the 128-wheel hydraulic platform taking just 45 minutes to move the bridge span 150 metres, where it was lowered onto the DfMA abutment shells to complete the overall bridge structure. Traditional construction methods would have required several weeks of lane closures on both carriageways, followed by additional weekend and overnight closures. HS2’s Delivery Director David Bennett said: “As work ramps up at one of HS2’s largest construction sites, it was fantastic to see this next milestone achieved so quickly. It was finished 24 hours ahead of schedule and follows hot on the heels of the installation of the bridge over the M42 in August, which was also completed early. We’re pleased to see innovations like this on the project dramatically reducing environmental impacts and disruption for road users. “With construction of the railway now well underway, 22,000 jobs being created and an estimated 400,000 supply chain contracts available, HS2 is playing a pivotal role in helping Britain’s economic recovery.” Jon England, DJV Project Director said: “Our successful partnership approach has led to the design and construction of HS2’s first permanent bridges including one over the M42, the A452 bridge over the A446, as well as two other bridges over what will be the main HS2 railway line adjacent to the new HS2 Interchange Station. “We are proud that through collaboration with LM JV, Highways England and local authorities, the application of 3D modelling techniques to align highways, earthworks, structures and utilities with the existing infrastructure and the innovative use of offsite manufacturing and Design for Manufacturing and Assembly techniques, we were able to safely deliver on this ground-breaking project.” LM Senior Project Manager Richard Fairhurst said: “Digital design, offsite manufacturing and modular components are the enablers of innovative construction methodology – they bring greater efficiency and safety to major infrastructure projects like this, and importantly, can save months on delivery schedules. That’s great news for clients, stakeholders and local communities alike. This is the future of bridge design and delivery.”
Story Homes and Story Contracting have joined forces to raise more than £28,000 for mental health charity Mind. Over the past two years, the companies selected Mind as their charity partner, with all staff and business fundraising going to this worthwhile organisation. Staff across the two businesses carried out various fundraising activities to raise money for the charity – from sporting challenges and bake sales, to raffles and pub quizzes. Following the sizable monetary donation, the businesses – which were both founded by Fred Story – are delighted to announce that they will extend their charity partnership with Mind, dedicating colleague and company fundraising to the mental health organisation. Mind provides advice and support to anyone experiencing a mental health problem, and the funds raised by Homes and Contracting will be divided between the local Mind branches in each of the companies’ operational regions – including Carlisle, Newcastle, Lancashire, Manchester, Leeds, Birmingham and Scotland. Fred Story, founder of both businesses, said: “We are delighted to be continuing our partnership with Mind. Working within construction, we understand the importance of improving mental health and we are dedicated to ensuring that nobody suffers in silence. There can be a certain stigma associated with mental health and wellbeing, especially in young men, but it is a subject that we need to continue to talk about and ensure that we have the right support networks in place across our two businesses.” Tara Quinn, CEO of Carlisle Eden Mind, said: “Once again, Carlisle Eden Mind are excited to have the support of Story Homes and Story Contracting particularly in a time of great uncertainty. We would like to thank both organisations for their much-needed contributions and every penny, as always, will go towards those we are here to help and support.” Tommy McIlravey, CEO of Lancashire Mind, said: “On behalf of everyone at Lancashire Mind, and those who access our services, I would like to thank Story Homes and Story Contracting for this generous donation and their ongoing support. Given the times we find ourselves in donations such as this mean more than ever to Lancashire Mind and enable us to continue to work with individuals and communities across the county.” These are just a few of the worrying statistics about mental health within the construction industry: A construction worker is more likely to die of suicide than a fall from height Males working in skilled trades have a 35% higher risk of suicide than the male national average Every year over 400 construction workers commit suicide The risk of suicide among male labourers is three times higher than the male national average 55% of workers have experienced mental health issues in their lives Almost half of women working in the sector are dealing with poor mental health
With greater societal focus on the issue of climate change, the pressure is on governments, businesses and other key decision makers to react and introduce initiatives that will contribute towards a greener planet. The UK government, for its part, has taken steps to address the impact our lifestyles have on the environment. In June 2019, it passed a law targeting zero greenhouse gas emissions by 2050. That means businesses across all sectors will have to come up with pioneering ideas that promote a more eco-friendly world. There are already several examples of innovations that have proved a success – such as the BedZED development in London – and there are plenty more plans in the pipeline when it comes to housing. These range from revolutionary, eco-friendly home designs to further government initiatives, such as the one launched by the Housing Secretary in October 2019. So, what does the future of green homes look like in this country? Stronger regulations When it comes to new-build properties, there will be changes introduced to the regulations that encourage a reduced level of carbon emissions and lower bills. The idea is that new technologies utilise renewable and sustainable energy sources while improving heating efficiency and reducing waste. That’s good news both for our planet and the millions now working remotely from home offices, living rooms and kitchens due to the coronavirus pandemic. Heat pumps Heat pumps are one of the new technologies being introduced as a more eco-friendly way to warm our homes. Rather than burning fossil fuels and emitting harmful greenhouse gases, they work by extracting latent heat from the air, ground or natural sources of water. That is then used to heat an element, which transfers it to a coolant which is compressed until it gains sufficient temperature to heat water in our homes. Underfloor heating There are also new methods of underfloor and wall heating being developed which use the energy from solar panels. The system works by laying conductive copper strips. These strips are then coated in conductive and magnetically dielectric paint before being connected, providing heat to the floor and walls in lieu of radiators. And, with further technological advances sure to come, Housing Secretary Rt Hon Robert Jenrick has called on everybody to do their part to ensure a greener future for all: “Building new homes isn’t just about bricks and mortar, I want to ensure everyone – including developers – do their bit to protect the environment and give the next generation beautiful, environmentally friendly homes that local communities can support.”
Toughened glass is a great material to incorporate into your home interior. It provides any living space with the same visual appeal and elegance as standard glass, plus the added safety benefits. In addition to that, it’s incredibly versatile and suits a large range of uses, from home furniture to household appliances. So, here are the top 5 applications of tempered glass that homeowners love most. Overview of Tempered Glass Tempering process Tempered or toughened glass is an incredibly strong type of glass that undergoes a process of chemical and thermal treatments. This process is called tempering and it’s what gives this type of glass its unique composition. So, in the tempering furnace, glass is heated until it reaches a uniform temperature of 700 degrees Celsius. Then, the glass is subjected to rapid cooling, exiting the furnace. The cooling part usually consists of a blast of cold air on both sides of the glass at the same time. This treatment leaves the center of the glass in a state of tension while the surface remains in compression. In this regard, the core tension is what determines the pattern the glass will break-in. On the other hand, the compression on the surface is what gives the glass its strength. Characteristics of tempered/toughened glass It’s four to five times stronger than standard glass. Due to the process of tempering, the glass has much higher thermal strength. This means that it can withstand temperatures as high as 250 degrees Celsius. It’s a safety-approved type of glass since it doesn’t break and shatter into sharp fragments. Toughened glass is highly impact-resistant. It has the same properties as standard glass in terms of light and heat transmission. It also cannot be cut or altered after tempering otherwise that will cause a fracture. So, any resizing or cutting should occur before the glass undergoes these treatments. Key benefits Tempered glass cut to size is largely popular in use because it provides cutting edge benefits compared to other traditional types of glass. Strength: the tempering process renders the glass five times tougher than the standard. This means that the glass is less likely to break or shatter due to any low to medium impact incidents. The robust composition of toughened glass also entails that it withstands extreme temperature fluctuations really well. Not only that but it makes it much more durable so it has a longer lifespan. Safety: if your household includes pets or children, then toughened glass is the ideal option to use. Its enhanced safety features will help prevent the risk of being injured in case of breakage. If toughened glass cracks and breaks, it will do so in small round pebbles. So, it will be harmless to the touch, and the subsequent cleanup won’t be dangerous. Impact resistance: the high reliability of this material makes it incredibly impact resistant. So not only is it less likely to fracture into big shards with sharp edges, but it’s also more scratch-resistant. Besides regular cleaning, there will be no additional maintenance to get rid of flaws and blemishes that scratches can cause. Tempered Glass railing System Toughened glass is the ideal material to use in railing systems. Whether it be in balconies, decks, porches, indoors, or in public settings such as schools, shopping malls, and hospitals. Its commendable safety features combined with the strength and durability it provides offer a much-needed level of protection. Such properties ensure that the glass can withstand a lot of wear and tear as well as any potential impacts. Not just that, but the transparency of glass also provides the luxury of an unobstructed view. A perk that other traditional railing systems simply cannot compete with. Tempered Glass Tabletops Toughened glass is widely popular in furniture, particularly tabletops. Whether it’s a patio table, a dining table, or a conference room table, this material is both functional and elegant. It’s thick and durable enough to withstand the weathering that comes with daily use. In addition to that, it’s customizable and comes in a large range of designs and colors. So, you get plenty of options to choose from. Not to mention how versatile glass is as a material since it will flawlessly blend into any interior decor. Large tempered glass windows Windows are the second most common entry points in your home. So, you want to make sure you take all safety precautions to protect your house from burglars. Toughened glass windows can do just that. It comes in handy and it will provide you with safety, enhanced home security, all with a beautiful design. It’s four to five times stronger than other traditional types of glass and it’s meticulously designed to withstand impact. So, you can have full confidence in the protective barrier they provide. In addition to that, the difficulty of fracturing this type of glass will most definitely deter intruders from breaking in. Toughened glass can be a great base material to your windows, especially if you live in high traffic areas. That and if you have really large windows. Tempered Glass Frameless Shower doors Shower rooms and bathrooms can look cramped and cluttered very easily. This is why interior designers and architects mostly rely on glass in furnishing a lot of contemporary homes. And that includes bathrooms. With that said, you can’t get away with using any type of glass. Particularly when you stop to consider how hot and steamy showers tend to get. For that reason, you need to get thick and strong glass shower doors that can withstand those temperature fluctuations. Toughened glass is not only the ideal option for that but it also offers the added benefit of safety. Since frameless shower doors don’t have the kind of support that framed ones do, the glass panes need to be much thicker. So, in the event that your shower door cracks and breaks, there will be no sharp edges or hazardous shards. Tempered Glass Shelves Glass shelves are a common commodity amongst homes and public settings
A fixer-upper can be an excellent compromise for people who want control over their home design but lack time to build from scratch. An added benefit is that it gives you the option of moving into a neighborhood you prefer. Additionally, a fixer-upper sells for a much lower price than a new or updated home. Yet, even with all these benefits, choosing one can be tricky if you don’t know what to look for. Here’s what you should know. Calculate the Pricing The real hurdle with buying a fixer-upper is determining the hidden costs that it will carry. Though the initial offer price may be deceptive, you may find yourself saddled with unexpected costs as the process continues. Start by checking the pricing of houses available on the market. As you already have a style and aesthetic in mind, you can focus on homes that fit your specs. There is a variety of new home designs Perth offers that you can look into. A fixer-upper tends to cost much less than a ready home. For instance, for a $210,000 new home, you can find a $150,000 fixer-upper in the same neighborhood. If the cost of renovations will significantly surpass the cost of buying a new home, it might be wise to rethink settling on a fixer-upper. Home Inspections If you’ve spotted a fixer-upper you’d consider buying, be sure to get all the necessary home inspections done. The last thing you want is to discover structural issues after you’ve started renovations. There are several essential inspections you need to do, but that will save you future headaches. You can obtain a home warranty at the seller’s cost. It protects you if things start breaking right after the purchase. Pest inspection checks for damage from termites, ants, or other insects. Sewer lines tend to age with the property, so it’s vital to get them and the septic tanks checked. Roof certifications provide the age and condition of the roof. Finally, the engineering report helps you understand any natural hazards that relate to the property. Drawing the Line Ultimately, you’ll need to be honest with yourself and understand where to draw the line. An excellent pointer to determine whether a fixer-upper is worth it is the nature of renovations. You can differentiate easy fixes from more complicated and expensive ones. Easy fixes are usually cosmetic: fixing broken windows, replacing doors, laying tiles, painting, and the like. Expensive fixes involve construction: remodeling bathrooms, replacing plumbing, and reroofing. If the fixer-upper you’ve found has more structural fixes than cosmetic ones, it might be wiser to let it go. Additionally, know how far to go with the renovations in case you plan to sell. Going overboard in a neighborhood with low property value may mean that you never recover the cost of your investment. Using a Buyer’s Agent Using a buyers agent when purchasing a fixer-upper can make a world of difference. Buyers agents have extensive knowledge of the local market and can help you find undervalued properties with renovation potential. They’ll also guide you through the negotiation process, ensuring you pay a fair price by factoring in renovation costs. In addition, they have connections to trusted contractors, inspectors, and architects who can provide estimates and advice, making it easier to assess the true cost of repairs. A buyers agent is your advocate, helping you avoid hidden pitfalls and make informed decisions throughout the process. Fixer-Upper or New? Deciding whether to settle on a fixer-upper comes down to weighing the scales. If all the factors make sense, then go right ahead and turn that fixer-upper into the house of your dreams. If not, take your time, save a bit more and buy yourself a new home, or even build one that meets your lifestyle needs.
Sales of £1m-plus homes have surged since lockdown as affluent buyers look for more space and lifestyle change, with two-thirds more deals agreed in the past four months than in the same period last year. An average of 868 £1m-plus sales have been agreed each week since the beginning of June, 66% higher than the weekly average of 522 over the same period in 2019, new data from Savills and TwentyCi show. Despite the key spring market weeks being all but lost to the lockdown, when sales fell to just 69 in the week ending 19 April, a total of 23,000 sales were agreed in the first three quarters of 2020, 16% higher than in 2019. Lucian Cook, Savills head of residential research, who ran the analysis, says, “This points to a rebalancing of the market between London and the rest of the country. Whereas sales in London rose by 4% in the first nine months of the year, they are up 27% across the rest of the UK, albeit London still accounts for over four in 10 sales with a £1m-plus price tag. The South East has seen the biggest surge in absolute numbers, with sales rising 28% to 6,560. The South West saw sales rise 38% to 2,022, while in Yorkshire and The Humber volumes were up 44% to 341 agreed sales, albeit absolute numbers of millionaire house sales remain much lower. £1m+ agreed sales year to end Sept 2019 2020 Increase 2020 v 2019 London 9066 9403 4% South East 5128 6560 28% East of England 1997 2469 24% South West 1466 2022 38% West Midlands 416 560 35% North West 480 538 12% Yorkshire and The Humber 236 341 44% East Midlands 269 341 27% Scotland 177 152 -14%* Wales 89 106 19% North East 63 72 14% Northern Ireland 21 22 5% Total 19,408 22,586 16% Source: Savills research using TwentyCi (*The Scottish housing market reopened 4 weeks later, hence the lower figure) “Lifestyle relocation has been a big theme in the market since lockdown began to ease, and this is very clearly reflected in the numbers,” says Cook. “Relocation and staycation locations such as the Cotswolds (+94%), South Oxfordshire (+78%), Dorset (+69%), Cornwall (+66%) and Wiltshire (+66%) have been standout performers. And for London leavers looking for a less dramatic lifestyle shift, and a more accessible commute, uber-towns such as Tunbridge Wells (+58%), Guildford (+42%) and Winchester (+40%) have proved popular.” In the UK capital, travel restrictions have limited overseas demand in the most central boroughs of Kensington & Chelsea, the city of Westminster and Camden, where £1m-plus volumes were down 10% year on year, but leafier outer London boroughs benefitted from the search for more space both inside and out. As a clear illustration of this, the mantle for the highest number of £1m-plus sales for a single local authority has passed to Wandsworth, where over 1,000 sales were agreed to primarily domestic buyers in the first nine months of the year, up 17% on 2019. “By the year end we now expect the number of £1m-plus sales agreed to exceed 2019 volumes – a performance nobody could have anticipated in the depths of lockdown,” says Cook. “That said, recent evidence suggests fewer high value homes are now coming to the market, suggesting we may be hitting a high plateau. “For many the challenge is now in getting deals through to completion by Christmas, after which point eyes will be on beating the March 31 stamp duty holiday deadline in order to benefit from the maximum £15,000 saving for those buying at this end of the market.”