3 months’ after the Tenant Fee Ban was introduced, there is evidence that many landlords are choosing to increase rents, to cover some of the additional costs they now incur. due to the ban.
Indirectly the tenant is still therefore paying, although maybe not quite as much as before the ban.
It is also reported that there is a slight reluctance with some landlords to accept tenants with pets, as the Tenancy Deposit held against dilapidations’ has for the majority of tenants reduced from the equivalent of 6 weeks rent to a maximum of 5.
A Big Thank you the Parish Council for bringing colour to the High Street with their initiative of providing magnificent hanging baskets to the Village Shops. This is much appreciated by all who visit the Village.
With a new prime minister at the helm and a new housing minister and it seems will may actually be leaving the EU on October 31st.
So what can we expect over the next few months?
Our primary patch has always been somewhat resilient, when it comes to property pricing on both the sales and rental front
On the Sales Front
As we are now into the traditional holiday season, the market historically quietens down, However we are still receiving a good volume of enquiries for properties in the area both through our own website the many portals we are associated with including Rightmove, Zoopla, On The Market etc. Whilst these traditional sites are performing well, the resistance to the likes of Purple Bricks, who are unable to take a active role between vendors and purchasers is strong.
The local High Street Agent is still, it appears the best means to sell and/or buy a home.
The market as a whole is suffering from a shortage of properties, as owners I invariably are being over ambitious in the price they wish to achieve, despite guidance from the professionals. If properties are realistically priced in this current market, sales are being achieved and we have over the last few months been fortunate to see a number of sales complete.
Our philosophy is to be able to offer a personal and confidential service, which is not based, as some agents are inclined to persuade parties to buy additional services such as mortgages, insurance etc. through theft associated organisations , to boost their bottom line
We are entirely independent and between the dedicated team in the office, have in excess of 130 years experience of being involved with properties in Ascot, Sunningdale and the surrounding areas.
Interest rates are still very attractive with many lending sources offering extended fixed term mortgages and we have seen of late a significant rise in long term mortgages of up to 40 years from the traditional 25. this allows more people to get on the property ladder as it often reduces monthly repayments, however this still may rely to some extent on the ‘Bank of Mum & Dad for deposits etc.
There has been a spate of specific online scams where fraudsters are cloning and establishing property and letting sites, offering prime property to tenants, then stealing deposits. They are exploiting vulnerable tenants by persuading them to pay their deposits online to secure properties.
The General Data Protection Regulation (GDPR) came into force on May 25th which replaces the Data Protection Act 1998 and is something which all businesses are expected to comply with which we have endeavoured to do.