November 25, 2022

lucy

In The Press

In The Press… The Times

In The Press… The Times 0

Our Founder, Jennie Hancock, had a good chat with journalist Tim Palmer recently at The Times, as to why she thought Chichester is a great area to retire to. Today the piece was published, and Property Acquisitions are thrilled to have been quoted. Tim describes Chichester as the best place for wellness, which Jennie completely agrees with. It’s a perfect area for retirement, because you can either have the Vicar of Dibley lifestyle in a village such as Bosham, where there’s always something going on at the church or village hall, or you can live in a little Georgian house that’s an easy walk to the theatre or M&S.

Read the full article here (paywall)

October 24, 2022

lucy

Area FocusesIn The PressProperty AdviceProperty Market Update

In The Press… Sussex Express and Property Reporter

In The Press… Sussex Express and Property Reporter 0

Our Director, Jennie Hancock, is often asked by the press for her thoughts on the local property market. Recently, she was asked to explain why buyers love West Sussex as a whole, and why Chichester is a good city to be buying a property, to support a data led piece on the hottest and coldest markets. This has led to various press coverage such as Property Reporter and Sussex World.

October 22, 2022

lucy

Area FocusesIn The Press

In The Press… Daily Telegraph

In The Press… Daily Telegraph 0

Our Director, Jennie Hancock, provides her thoughts on the harbour village of Prinsted, which appeared in the Daily Telegraph today. The piece is about the top 20 villages that have seen the biggest price growth over the last 20 years. When asked about the area, what type of homes are there and who the buyers are, Jennie said:

“Prinsted sits in an Area of Outstanding Natural Beauty and being a picturesque harbour village, is popular with sailing fraternity due to its easy access to Thorney Island and Hayling Island, with Thornham Marina close by too. Due to its countryside surroundings, there’s plenty of walks and wildlife to enjoy the beautiful scenery too, giving a feeling of peace and tranquillity. A particularly nice walk is from Prinsted to Nutbourne Bay which follows the Chichester Harbour shoreline and is a good one for bird watching at low tide on the mud flats. Whilst Chichester Harbour can be reached in five minutes. Many purchasers buy here because of the sailing waters of nearby Emsworth which also has a good selection of shops and restaurants, plus the popular The Blue Bell Inn. There’s also a train station a mile away which connects residents to Gatwick airport, London Victoria and Southampton, whilst there are good road links to Chichester. This, combined with a good variety of properties from small modern homes to historical period cottages where some offer wonderful views over the harbour, Prinsted therefore attracts a wide range of buyers from weekenders to families and downsizers who are seeking escapism from the hustle and bustle of life.” 

Read the full article here.

October 17, 2022

lucy

Property Advice

Cash is king in West Sussex’ property market

Cash is king in West Sussex’ property market 0

I am starting to see a glimpse of a buyers’ property market in West Sussex after a long period of it being in favour of sellers. The tide is starting to turn away from being price led and instead manoeuvring towards the ability to purchase, highlighting the importance of being a cash buyer, ie a proceedable buyer, when looking for a prime country house.

The term ‘cash buyer’ describes a purchaser who does not need to get a mortgage, and has enough funds available in their bank at the time of making an offer on a property to purchase without encumbrances. This is what makes them proceedable…

In today’s market, being a cash buyer is probably the best situation you can be in when trying to find your next country home. You are chain free, the need for a large expensive mortgage is removed and the overall sales process is much quicker. At a time when vendors are becoming nervous about their sales transaction falling through due to higher interest rates and mortgage costs halting borrowing for many buyers, these are factors that can make you a very desirable buyer – especially if the vendor needs to sell quickly. Many estate agents are calling me far more frequently for this very reason. This is because as a buying agent, we only work with purchasers who can proceed.

As a result, cash buyers are starting to enjoy exclusive access to prime country houses like they used to have pre pandemic, where they aren’t having to compete with as many purchasers. With vendors now seeking the ‘best’ buyer rather than who is offering the highest price, such purchasers shouldn’t need to offer the sorts of prices that were being agreed over recent years.

For more information about being a cash buyer in West Sussex and how Property Acquisitions can assist you, contact Jennie Hancock at jh@propertyacquisitions.co.uk / mh@propertyacquisitions.co.uk.

September 16, 2022

lucy

Company NewsProperty AdviceProperty Market Update

Buy a country house for the long term

Buy a country house for the long term 0

With many different questions surrounding the ultimate country house purchase, it is important to buy for the long term. Buying a property that has potential to have value added for when your needs change in years to come, can be without doubt a great benefit financially.

I often discuss with my clients the necessity to imagine the home in ten to fifteen years’ time and how suitable it will be then. Not everybody likes to think about the thought of your little children being teenagers or older, or for early retirement weather you will manage the stairs, but time passes quickly as we all know. Future proofing means you are buying well.

When looking for a new home, it is vital to list all the pros and cons as pragmatically as possible so that you know what you are buying. The costs of moving are significant – and will most likely only increase as years pass – so you don’t want to buy a house only to find that you need to move again quickly because it’s not quite right.

Important factors to consider before purchasing a house include:

  1. Location, location, location… this is always my number one rule. Avoid busy roads or motorways in the near vicinity of the house. Also do your research on what’s close by. A nearby pylon obstructing the view can be off putting for future buyers, and you may not want the aroma of next door ‘s animal farm floating through your garden on a hot summers’ day

 

  1. Buy a home you can always sell easily. Remember, your next buyer will buy for the same reasons you fell in love with it

 

  1. Extra accommodation is always good for letting out for additional income, for childcare, or for live in help if needed. This could be an annexe, a studio or a separate wing of a house

 

  1. Aspects are important, with attention given to the amount of natural light pouring into the house on the dark winter days.  Avoid a north facing rear garden if you desire unlimited sunlight

 

  1. Look at ways you can extend, with a loft conversation or perhaps how to add value and space.  Creating an extra bedroom and making it a four or five bedroom family house can be managed in years to come, enabling extra square footage and giving you a bigger more valuable home when the selling time comes

 

  1. There is flexibility on council tax bands. Research this as there can be a big difference depending on the location and types of property which are often determined by age

 

  1. Look at the Energy Performance Certificate (EPC). Energy performance is more important than it has been for a good while, so you need to know the costs of running the house. Find out what the current EPC rating is as well as what rating the property has the potential to be. You don’t need to spend a fortune to make a home more energy efficient

 

A buying agent can help you in your decision making process by supporting you through the search as well as the transaction, making the difference between a good purchase and one that is not. For more information about how Property Acquisitions can assist you, contact Jennie Hancock or at jh@propertyacquisitions.co.uk.

 

July 18, 2022

lucy

Property AdviceProperty Market Update

Buyers are still competing for the best country houses

Buyers are still competing for the best country houses 0

Despite concerns about the economic outlook and rising energy bills, interest rates and the general cost of living, buyer demand has not really changed in our part of West Sussex, particularly in the upper end of the housing market and for the good quality homes. This means buyers still need to be prepared to compete for the best country houses if they are to have a chance of finding one, let alone purchasing one.

At Property Acquisitions, we are still just as busy as we were during the pandemic’s property buying frenzy, with offers still going over asking price amidst competitive bidding wars. This is supported by recent research from house selling weather forecast, PropCast, who tracks buyer demand across the country and often quoted in the national press. When looking at a county level, the free online tool has found that demand has remained stable over the last quarter in West Sussex.

We are finding that period homes with large gardens, outbuildings and high spec are still highly sought after, commanding a premium. Bidding wars and sealed bids are still very much going on as a result. This is especially true in the golden villages surround Chichester, Midhurst and Petworth such as Bosham, Witterings, Selham, Tillington or Lickfold. Recently for example, a really lovely Grade II listed house launched in one of the villages. We had made an appointment for a client for the next week, but received a call from the estate agent asking if we could bring the viewing forward as 40 viewings had been booked and they had already received two bids approximately 20% higher than the asking price. This is not uncommon at the moment – buyers are literally having to fight to secure the best country houses still.

Where we are starting to see a slight drop in demand are for the average houses, those that aren’t in such prime locations, or those that don’t have the period features, space, pools, outbuildings and amazing views that buyers still seek. Last year buyers were so panicked to buy a country house that they would take what they could find, but now they are a little bit more wary about anything they feel has a negative trait. For example a home near pylons or road noise, or somewhere that is too small. Houses where a sale has been agreed but then falls through are also taking longer to sell, because buyers presume that something is wrong with it. Meanwhile, although the rising cost of living doesn’t really affect our end of the market, buyers are more price sensitive, so overpriced houses are taking longer to sell. There was one in a hugely desirable village not long ago with an amazing view and lots of land, but because the house was small, it hasn’t sold yet. It’s priced over £2million and the estate agent has told us they haven’t had the uptake they expected and so will probably have to reduce the price.

So, whilst buyers may have been hoping for a drop in house prices by now, you still need to be prepared to battle it out on the playing fields for the best country homes in West Sussex. Here are a few of our top tips:

Be organised – Have all of your paperwork ready, know your budget and have your finances in place.

Sell your current home asap – Most estate agents won’t agree to a house viewing with a buyer unless they can prove they have the funds ready to go. My clients are a mix of cash buyers or those who have at least exchanged contracts already, putting them high on the list when it comes to just getting their foot through the front door.

Be realistic on your offer

There’s not much negotiation going on right now for houses over £1million, so be realistic on what your best offer should be to stand a good chance of having it accepted – but don’t overspend!

Agree to a long completion

Sellers still want buyers who can be flexible on the completion date. This is generally because they are worried about how long it’s taking them to find another house. After all, they’re up against tough competition too. Offering them time to find something else combined with all of the above points should stand you in very good stead as a buyer. It can even encourage sellers to accept a lower offer if they feel you are a good choice.

Retain a buying agent

If you really want to be ahead of the curve, then a good local buying agent will be able to find you the off-market houses first, before the general public get to know about them. For us, these are often the hidden gems in the golden villages surrounding Chichester, Midhurst and Petworth. A buying agent usually only works with proceedable buyers, which is why estate agents tend to speak with us first about what they have coming up for sale. Buying agents can also advise on what your maximum offer should be, which is especially useful if you are in a bidding war scenario – it is very easy to get carried away and spend too much.

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