Every magazine, newspaper or newsletter that has landed on my desk this week has been full of predictions for the housing market (slowdown NOT slump) and advice about where to find a bargain property in the current climate. For first time and family buyers on limited budgets the ability to spot an up and coming area is a useful weapon to have in one’s armoury.

Apparently Trowbridge is the centre of ‘the New Cotswolds’ (yes, really!). A swathe of countryside South of Bath stretching from Glastonbury to Warminster represents excellent value for money and downshifters looking to cash in on bumper London property prices and escape to a rural idyll should take a long, hard look at Laugharne in South West Wales (erstwhile home and final resting place of poet Dylan Thomas.) This is all good news for me as these places are within my search area. I can even claim a connection with Laugharne, boasting the somewhat dubious distinction of having a grandfather who was arrested with the aforementioned Mr Thomas for being drunk in charge of a horse. Clearly if the press is to believed next year will be a bumper one for this relocation agent.

On a more serious note however, be it Trowbridge, Tetbury or Timbuktu spotting potential hotspots is vital to anyone on a tight budget who wants to add value to their property. So what are the signs to look for?

Firstly bear in mind that any wise buyer realises that they are in it for the medium to long term at present and therefore good or improving transport links are essential as is good schooling and facilities such as parks, shops and other amenities. Primary School League tables are published today but be wary of judging a school’s quality on these alone. Like all statistics they need to be interpreted. When I conduct school searches for clients I visit schools at the end of the day to see the quality and range of the after school activities, how the childen behave on the way home from school and whether teachers stay long after the children. Visiting during the school day can also throw up useful information about the level of support for the school from parents and members of the community working alongside the staff, whether that’s listening to reading, organising cooking sessions, running a tuck shop, coaching PE or accompanying school trips. Given a choice don’t be tempted to buy a better property in a less attractive area.

Secondly consider the ripple effect. When areas become exclusive neighbouring areas reap the rewards. Keep your eye on the local property press and estate agents’ windows to spot where prices are rising and try to buy ‘next door’ before the rush. Timing is everything.

Spotting clear market potential isn’t difficult provided that you do your homework. Quality builders moving into the area can provide a clue to potential. Check out the local authority planning applications and try the art of ’skip spotting’ where owners of newly acquired (and often neglected) properties are improving them. More estate agents, chains like Starbucks, exclusive boutiques, delis, specialist shops and supermarkets moving in will also signpost the way. One big redevelopment such as a conversion of a disused industrial building into mixed residential and business units can also be indicative of an up and coming area.

Happy hotspotting and if you feel we can help do get in touch.

Cally

How I love this time of year with its spirit of expectation, anticipation and preparation. The ritual advent calendar has been retrieved from our loft, strings of white lights adorn the town bridge in Bradford on Avon and we have an ever-growing pile of gifts awaiting adornment in our study. (This year brown paper, raffia and cinammon sticks rule!).

My ‘To do’ list has taken on gargantuan proportions- yet I remain undaunted. In three weeks I will have packed, cooked, visited, written the Christmas letters, finished my latest round of professional development (dealing with damp in period buildings), watched three separate Nativity plays, iced the cake and consumed more than my fair share of mince pies. Futhermore our Christmas Eve lounging in front of “It’s a Wonderful Life” with full wine glass and chocolate box will be all the sweeter for the preceeding stress.

I hope the same is true for a lady whom I learnt yesterday has at last exchanged contracts on the sale of her house after six months of agonising property stress. One of the questions I am often asked by clients is about how long a sale should take from the date when an offer is made and accepted. In theory it can be anywhere from 24 hours (the stuff of dreams!) to several months. In practice exchange usually takes between four and eight weeks, depending on how prepared everyone is and how swiftly questions are answered and surveys and searches completed. Reaching completion can take another month.

One of the much vaunted benefits of Home Information Packs was that this conveyancing process could be speeded up by ensuring that all searches were completed and all relevant information about a property compiled much earlier in the process. HIPs inevitably have received little support from the property industry who have a vested interest in maintaining the status quo and justifiably from consumers who want to know that they can trust and rely on the information in the Pack.

Whatever your view of HIPs, if you are in the process of moving house there are things you can do to speed up the process and cut down on stress.

• Don’t underestimate the importance of regular progress chasing. Your sale will not complete within the usual timescale unless you chase it. It may be helpful here to mention the similarity that has been drawn between some solicitors and mortgage lenders and wheelbarrows. If you stop pushing you will come back to find that they are exactly where you left them! Work with your agent to keep up the pressure. Ensure your estate agent knows that you expect them to liaise with all the parties concerned on a weekly basis. Relocation agents are likely to provide this service as part of their package. Expect to be kept informed and for your part, provide updates for others.
• Don’t assume that things will happen as and when you want them to unless you are clear and candid. You may think that a dispute over something will delay the expected date of exchange and completion. The other party may not. Understand the consequences of certain actions all along. Then you won’t receive any nasty surprises.
• Build up a good working relationship with your solicitor, your purchaser and the person whose house you intend to buy. Misunderstandings are less likely to occur and people are always more accommodating if you take the trouble to get to know them.
• Answer any queries promptly and don’t disappear off on holiday without telling anyone for three weeks during the conveyancing process.
• Be flexible. I have known property chains to break down because one party in the chain could not afford an extra £100. Work with the other links in the chain to resolve difficulties together if you can. It’s less stressful and far less expensive than starting from scratch.

Preparation, organisation and relentlessly working through a long list of a tasks should ensure that the Big Day is a success - whether it’s Moving day or Christmas Day.

Enjoy the festivities.

Cally