The Blog

I wanted to write a brief message to say thank you to all my clients and all those who have supported the business since its conception. This year has been by far the best (of the three!) and we have finished the year off with a mixture of completions and exchanges. Alongside some new instructions to come on in the new year. We have faced many challenges as all businesses do however we continue grow at a rapid pace. We have some fantastic elements that we are adding to the business next year that will greatly enhance the service we deliver to our clients and will aid us going forward as we navigate a new market in 2023 and I hope clients present and future will continue to value the service that we provide. Have a happy Christmas and a Happy New Year! Paul, Ami, Libby and Margie

Property prices, one minute they’re up, then they’re down, and there’s a whole lot of scaremongering in between. In this post, I’m going to shed some light on the current property market, focusing on what is happening with UK property prices and why sometimes things aren’t exactly as they seem.  Are House Prices Up or Down? Average House Prices in East Sussex - Land Registry Honestly, whether house prices are up or down and whether that’s a good or a bad thing can vary hugely depending on where you’re getting the information.  Generally speaking, The Land Registry’s UK House Price Index is one of the most reliable sources for this information, but it tends to lag by about two months. According to the Land Registry, the average price of a UK property increased by 13.6% in August year-on-year.  While the exact average price for a UK home during this period was estimated to be £295,903, the regional figures vary. In Scotland, the average price currently is around £195,391, while in England, it sits at £315,365, with properties in the South East coming in at £363,552.  Rightmove, Nationwide and Halifax also publish their own sets of data each month. These numbers tend to be updated more regularly and are based on confirmed sales and mortgage lending. While they, too, show an upward trend in house prices, their figures aren't always taking in the whole picture.  Can You Trust House Price Statistics? This leads me to the big question. If the data provided by the Land Registry is usually two months behind and the numbers given by Rightmove, Halifax and Nationwide aren’t giving the complete picture, can you trust these statistics? The short answer is no - but that doesn’t mean they aren’t useful.  House price statistics are a bit like weather predictions, they can help you plan, but you shouldn’t trust them 100%.  If monitoring house prices is something you’re interested in, then cross-reference the data from multiple sources and be mindful of external influences.  What’s Happening to House Prices This Christmas and Beyond? If the Land Registry, Rightmove, Halifax, and Nationwide statistics are anything to go by, then it looks like house prices will remain high and on the rise as 2022 comes to a close.  However, with the cost of living crisis and rising mortgage rates lurking in the wings, the bigger picture is a bit more complicated.  Economic uncertainty tends to slow consumer spending, and therefore while I expect house prices to remain high in the foreseeable future, they could begin to drop off at the start of 2023. What’s more, if a recent analysis by Capital Economics is correct, we may see house prices fall by up to 12% by mid-2024.  Is Now a Good Time to Buy or Sell Your Home? Whether now is the right time to buy or sell depends largely on your personal situation.  If you’re a buyer in a position to sit out of this period of economic uncertainty, then it may be better to wait a year or so in the hope that prices drop and mortgage rates fall. On the other hand, there’s no telling when that may be, and if mortgage rates continue to rise, you may be better off locking in a lower rate now. For first-time buyers, the nil-rate tax threshold also recently increased from £300,000 to £425,000, so it may be a good time to get on the ladder.  For sellers, if you want to sell your home for maximum profit, house prices are at an all-time high. While Rightmove says it took an average of 37 days to sell in September, up from 32 days in May, properties are still in high demand, with the most recent data from HMRC showing that around 104,000 transactions went through in September this year. Ultimately, whether now is the right time for you depends on your unique situation, but I’d be more than happy to give my two pence. Give me a call at 01424 772954 or message me at info@paulstrippestateagent.com for honest and impartial property advice. 

This September, Chancellor Kwasi Kwarteng announced a stamp duty change for buyers in England and Northern Ireland. In this post, we’ll look at what’s changed and what those changes mean if you’re looking to buy a property in the near future. A Quick Introduction to Stamp Duty Before we jump into the details, let’s quickly cover the basics, including what stamp duty is. Stamp duty is a tax, and it’s paid by buyers when they purchase a property or land above a certain price threshold in the UK. Previously, buyers in England and Northern Ireland were required to pay stamp duty on land or property purchases above £125,000 (this is known as the nil-rate tax threshold). The amount of stamp duty buyers paid varied depending on the total value of the sale and whether they were first-time buyers, overseas buyers, or buying to let. In England and Northern Ireland, buyers have 14 days from the date of completion to pay their stamp duty.  Changes to Stamp Duty - From September 22nd, 2022 As of September 22nd, the nil-rate tax threshold has been increased from £125,000 to £250,000 for all property purchases in England and Northern Ireland. For first-time buyers, the nil-rate tax threshold has increased from £300,000 to £425,000. It’s worth noting that to be eligible for first-time buyer stamp duty relief, first-time buyers cannot purchase a property valued above £625,000.  Above the nil-rate tax threshold, buyers will begin to pay stamp duty at the following new rates for each tax threshold: If you can’t picture what this means for you then I recommend trying this Stamp Duty Calculator by Money Helper.  Stamp Duty on Higher Rate Transactions If you’re buying a second home or a buy-to-let property in the UK, then you will still pay more stamp duty. The new rates for higher rate transactions are as follows: Stamp duty remains a complex area of taxation, especially for overseas buyers, if you’re confused about how the new rates affect you, then please get in touch. When Do the New Stamp Duty Rates Come into Effect? The new stamp duty measures are in effect now and have been effective from the 23rd of September 2022. You can find more information about the Stamp Duty Land Tax (Reduction) Bill on the GOV.UK website here, or alternatively, give me a call, and I’d be happy to discuss how they have changed for you depending on your circumstances.  When Will Stamp Duty Rates Change Back? At present, there has been no suggestion that the new stamp duty rates are temporary and so we can assume that they will be a permanent fixture for at least the foreseeable future. That said, there’s no guarantee that they will stick around for good, so you may want to make the most of them while you can.  What Effect Will These Stamp Duty Changes Have on the Property Market? By increasing the nil-rate tax threshold, the UK government has just made the property market a lot more attractive to prospective buyers in England and Northern Ireland, especially those searching for their first home.  Given that buyers can save tens of thousands of pounds on property purchases we do expect to see a surge in sales in the coming months, making it a good time to consider selling.  However, as always, it’s not all good news.  While we do expect to see property sales increase a little, we don’t expect them to come all at once. This is because the new stamp duty rates are permanent and so buyers aren’t being forced to panic purchase within a limited time frame. It’s also worth considering the many other factors affecting the property market right now, such as mortgage interest rates, the cost of living crisis, and recent alterations to the energy cap.  Whether the new changes to stamp duty will be enough to keep the property market booming remains to be seen, but one thing is for sure, it’s a welcome alteration.  If you’d like to discuss buying a property or selling your home and aren’t sure whether now is the right time to do so, please call me for impartial advice.

Here I demonstrate the new Lead Auto Response that buyers receive automatically when they enquire via the portal websites. This now means buyers are given everything they need in an easy in one email, it helps build rapport, books more viewings and get sellers more offers right from the initial inquiry! There is more to come as we develop and utilise the features of the new CRM and how it interacts with the website. Additionally, we are now running paid social media campaigns to increase exposure meaning your property is seen more across Facebook, Instagram and the Google ads network. To play the video, click on the Play button and then the grey video camera symbol on the top left. Alternatively head over to the Youtube channel https://www.youtube.com/channel/UCm7gu84noTe4q5UPqJ0vPyA

Is the end of 2022 a good time to sell your home? Here’s a straight answer from Paul Stripp Estate Agency. As an estate agent, you’re probably expecting me to say that any time is the right time to sell your home, but that’s not entirely true, and I’m not that kind of estate agent. There are definitely good times and bad times to sell a property, and choosing the right time can make the difference between a sizable return and cutting your losses.  Is the End of 2022 a Good Time to Sell? The short answer to this question is yes, but it’s a little more complicated than that. 2022 has been a sellers’ market so far, and as we approach the latter half of the year, that doesn’t look to be changing any time soon. There’s still a massive demand for property, and house prices are still sky high, meaning sellers see a considerable return.  But there’s a catch. A seller's market isn’t a buyer's market, meaning if you’re also looking to buy, then you may not be any better off at the end of your move. Who Should Sell Right Now? If you’re selling a second property or a rental with no need to buy elsewhere, are downsizing or are moving to a cheaper area, then there’s never been a better time to sell! Get your property on the market now to take advantage of record-high prices. If you’re selling and looking to buy locally or are selling to upsize, then it’s still a great time to put your property on the market, especially if you want it to sell for maximum value. The only downside is you, too, will be buying during the seller's market, so you will also be experiencing high buying prices. Is Now a Good Time to Buy?  If you’re reading this as a first-time buyer, then hearing that house prices are at a record high and you’re buying during a seller's market may seem like a big red flag - but it isn’t all bad news. One good thing for first-time buyers right now is the availability of low-deposit mortgages, which can make it easier to get on the property ladder. Unfortunately, the good news for first-time buyers ends there. While I’d love to say with certainty that first-time buyers should wait it out, it’s not looking like house prices will drop any time soon, and if interest rates continue to rise, then it could become harder to secure a mortgage. While now may not be a great time to buy, it could be better than in six months. If you’re currently renting, want to escape rising rental prices, and are planning to remain in your first home for a decent duration (5+ years), then my advice is to buy. If you are currently living in a rent-free situation, I advise you to stay put, continue building your deposit and buy when the market changes.  Is Now The Right Time for You? Ultimately, the right time to buy and the right time to sell differs from person to person. If you’re currently on the fence or just want some impartial advice, then please get in touch. You can contact me on 01424 772954 or by email at info@paulstrippestateagent.com.

Despite political uncertainty and the threat of a market crash, Halifax, part of the Lloyds banking group, has revealed the highest annual growth figure since 2004 in their Price Index for June.  That’s right, the average property price rose by 13% in June 2022 to £294,845. This is completely at odds with the scaremongering we’re all reading right now and just goes to show that things aren’t always the way they appear in the media. What Else Did the Halifax Price Index Reveal? House Prices, in General, are Up Besides a rise in the average UK house price, house prices, in general, have jumped by 1.8% in June this year. This rise now means the UK has seen house prices grow for 12 consecutive months, which is the single most significant month-on-month increase in over 15 years!  Northern Ireland and Wales Have Seen the Biggest Growth At a regional level, Northern Ireland saw their average property price increase by a staggering 15.2% in June, increasing its average house price to £187,833. But they weren't alone. Wales also saw an unbelievable rise in house prices, with their average house price increasing by 14.3% to £219,281.  As for England, the South West was the area with the most growth, with their average property price now sitting at £308,128 following a rise of 14.2% in June. Is Demand Still Strong in the Housing Market? The short answer to this question is a resounding yes but perhaps not quite as strong as in the immediate aftermath of COVID19.  Russel Galley, the Managing Director for Halifax, commented, “Demand is still strong, though activity levels have slowed to be in line with pre-Covid averages.” Adding to this, Nicky Stevenson, the Managing Director for Fine & Country, commented for the Forbes Advisor, “We are seeing house price growth continue to spike…The slowdown predicted by so many has yet to materialize in any real sense, despite an increase in borrowing costs and a squeeze on household incomes. Existing homeowners continue to make huge gains with competition among buyers still at a fever pitch.” What Does This Mean For Buyers and Sellers Right Now While these statistics may be reassuring, what do they actually mean for buyers and sellers? Well, it’s still a competitive market, and if June’s house prices are anything to go by, it will remain so for a while longer. As for buyers, if you have your eye on a property, it may be best to put an offer in now ahead of price rises expected for July, August, and beyond. As for the imminent recession we’ve all been warned about, the crash threat hasn’t gone away but hasn’t materialized either. While there’s no harm in being cautious amidst the uncertainty, it shouldn’t stop buyers or sellers from making a move in the imminent future.  Advice You Can Trust - Paul Stripp Estate Agency If you’re on the fence about moving in the latter half of 2022 or are concerned about the state of the current market, then feel free to drop me a message at info@paulstrippestateagent.com. While I may be an Estate Agent by trade, I’m first and foremost a dad, partner, and will always give impartial advice tailored to your unique circumstances.  Get in touch today to learn more about Paul Stripp Estate Agency and buying and selling property in the Battle, Robertsbridge, Hastings, and surrounding TN33 areas.

Are you thinking of moving to Battle, East Sussex? If so, you'll want to read this blog post! Here at Paul Stripp Estate Agency, we know that making a move can be daunting. That's why we've compiled everything you need to know into one handy post. We'll tell you about the schools in Battle, the transport options to London, and the annual events that take place in the area. We'll also give you an overview of the house prices in Battle so that you have a good idea of what to expect. So whether you're just curious about Battle or are ready to make the move, this post has got you covered! Where Exactly is Battle, East Sussex? Battle, or Battel as it used to be spelt, is situated approximately 50 miles southeast of London, 30 miles east of Brighton, and just a stone's throw from the coast of Hastings and Bexhill. The town is best known for its 12th-century Abbey, which was the site of the Battle of Hastings in 1066. Schools In and Near Battle, East Sussex When it comes to local schools, Battle is spoilt for choice. Battle Abbey School is a co-educational private school for both day and boarding pupils aged 11-18. The school sits on the site of the Battle Abbey and is surrounded by beautiful countryside! There are also plenty of state schools to choose from including, Battle and Langton Primary School and Claverham Community College secondary school. Nearby, there is also Sedlescombe Primary School, Westfield Primary School, Netherfield Primary School, and Crowhurst Primary School (to name but a few). And for older school-age children, there's Robertsbridge Community College, Claremont Private School, Vinehall Private School, and Buckswood Private School all in the local vicinity. Transport Links from Battle, East Sussex Whether you're commuting to London for work or catching a train to the coast for a day out, Battle is well-connected when it comes to transport links.  The town has its own railway station with direct trains to London Charing Cross and Hastings. It is also one of the few local mainline stations, meaning that every train will stop in Battle. For those who prefer driving, the A21 runs right through Battle making it easy to get around by car. And for those flying, both Gatwick and Heathrow airports are just a short drive away by car. While countryside buses are notoriously few and far between, Battle has a relatively regular service with buses into Hastings, Bexhill, and the surrounding villages. There's even a bus from Battle to the nearby Sainsbury's superstore. Shopping in Battle, East Sussex Battle has a good selection of shops for a town of its size and is proud to have a thriving local high street. There are the usual high street chains such as Boots and Costa Coffee, but the shops that really make Battle special are its independents.  Amongst a whole host of cafes, Battle also boasts its own independent bookshop, a variety of homeware and fashion stores, independent florists, a bakery, butchers, a zero-waste store, and fishmongers. There are also three supermarkets in Battle, Jempsons, CO-OP, and a Tesco Express fuel station. For an even more incredible selection of shops, Hastings, Eastbourne, and Tunbridge Wells all have bustling shopping centres, and Brighton is just an hour away by car. Annual Events in Battle, East Sussex There's always something going on in Battle, and the town takes great care to foster a real sense of community. Throughout the year, Battle plays host to a number of annual events, including the Battle of Hastings reenactment hosted by National Heritage, its famous Bonfire Night celebrations, and the Battle Festival. There's also an annual marbles match and Easter bonnet parade, and Christmas late night shopping. House Prices in Battle, East Sussex (2021 - 2022) Properties in Battle are highly sought after and have increased in value by 30% compared to prices in 2017. According to Rightmove, the average cost of a property in Battle last year was £464,044. If you're looking for a detached property in Battle, the average price is around £686,000, while semi-detached properties fetch around the £397,000 mark and flats sell for an average of £207,000. Ready to Move to Battle, East Sussex? If you're thinking of moving to Battle, then Paul Stripp Estate Agency would be delighted to help you find your perfect home. With over a decade of experience in the local area, we have a wealth of knowledge about Battle and the surrounding villages and towns. So, whether you're looking for a family home close to good schools or a retirement property near the coast, we can help you find it. Contact us today to find out more.