One of Britain’s biggest lenders, Nationwide, has reported that UK houses prices experienced their biggest monthly drop for two years in June, with the fall of 0.8% the sharpest since February 2023. It follows stamp duty changes which kicked in this spring.
Over the year, however, prices rose by 2.1%, while the building society said it expected market activity to increase in the coming months. Meanwhile, there are other positives including low unemployment, earnings outpacing inflation and potentially cheaper mortgages if further interest rate cuts are announced.
What’s more, buyers could currently have more negotiating power and choice due to increased stock levels and competitive pricing among sellers.
But what this means for you if you want to sell a property is that it could be worth putting a little bit more effort into making your home more attractive to a potential purchaser, given the potentially stiff competition.
The good news is that there are several effective yet simple actions you can take to make your house or flat more sellable. Here are some of them:
· Go neutral: If you’re painting and decorating, a neutral shade such as white creates a blank canvas on which a new owner can project their own vision. It’s hard to imagine living somewhere if the décor is overly striking or bold – plus such shades may not be to everyone’s tastes. The same applies, incidentally, to having a clutter-free place for people to look around, and for the online photos that will help them decide whether to book a viewing in the first place.
· Install a home office: Clearly, working patterns in the UK have shifted dramatically in recent years, sparked by the pandemic. Add a garden office and you won’t have to compromise any of your inside space. You’ll have a dedicated workspace, and enhance the value of your home at the same time.
· Upgrade the kitchen: It’s often described as the heart of the home, so take a fresh look at this room. You don’t have to replace the whole area – just changing worktops can be transformative. Or you could simply upgrade cabinetry doors or add a new backsplash; you’d be surprised at what a difference these can make. Even minor alterations can have a significant impact.
· Refresh your bathroom: Consider redoing the grouting in your bathroom, or replacing outdated or worn showerheads and installing fittings and fixtures such as brand-new taps. (Additionally, fix any leaky ones, here and elsewhere in the property.)
· Kerb appeal: This is the impression your home generates when viewed from outside. So obviously it’s hugely important. Paint the front door, trim the hedges, weed the garden and clean driveways and pathways. Equally, think about installing some exterior lighting and painting the outdoor walls.
· Flooring: Carpets outdated or worn? Consider refreshing with new, neutral-toned flooring to dramatically elevate the appeal of the space.
· Lighting: Update old fixtures with contemporary, energy-efficient solutions, and consider smart lighting for enhanced modernity and convenience.
Selling your home with Carter & May
At Carter & May, we’re the well-established, award-winning independent Salisbury estate agents, based in the city centre and covering all the surrounding areas. We love our part of the world, know it extremely well, and live in these parts ourselves.
Our service is exceptional and highly personalised, all the way through from initial contact through to completion on your property transaction and beyond. After all, a potentially challenging time for home sellers requires the right support. We’ll provide expert advice on how to maximise your chances of a sale at the best possible price.
Learn more about Carter & May’s approach to selling here, and book a free valuation today.