Discovering Northampton: Central Heating and Its Impact on Property Decisions

 

In Northampton, a town renowned for its historical roots and vibrant community, a surprising discovery has been made regarding the state of modern living amenities, particularly central heating. 

An insightful heat map, using data from the Office for National Statistics and the Census, it reveals the percentage of homes across various parts of Northampton that lack central heating systems.

In this day and age, it's almost taken for granted that homes should come equipped with central heating. 

However, the data illustrates a different story for certain areas of Northampton. While many areas, shown in lighter green, boast nearly universal coverage of central heating, there are noticeable pockets, depicted in varying shades of blue, where up to 10% of properties do not have central heating. Instead, residents may rely on alternatives like storage heaters, standalone bottle gas heaters, or other forms of non-central heating systems.

This variation within Northampton can significantly influence decisions for homebuyers, homeowners, and landlords. For homebuyers, understanding the prevalence of central heating can guide their purchasing decisions, aligning their choices with their comfort and lifestyle needs. Homeowners might see this as an opportunity or a reminder to upgrade their systems to enhance their property value and living conditions.

Northampton Landlords, in particular, could find this data crucial for making informed investments and improvements to their properties. Ensuring rental properties are equipped with central heating could not only increase rental appeal and value but also reduce tenant turnover and maintenance issues associated with less efficient heating systems.

This heatmap of Northampton serves as a powerful tool for those involved in the local property market. It highlights a critical aspect of property amenities that could be overlooked yet is vital for comfort and value. If you are wondering if it’s worth upgrading your heating to full central heating, or if you have any property-related questions, I encourage you to get in touch. Let's discuss how this information can aid in making the best decision for your property needs in Northampton.

As a knowledgeable agent in Northampton, I am here to assist you with any enquiries related to the property market in our town. Whether you're buying, selling, or seeking investment opportunities, a conversation about your property needs could lead to insightful and beneficial outcomes. 

Reach out today by telephone on 01604 801 962, direct message or email northampton@belvoir.co.uk and let's explore how Northampton’s unique property landscape can meet your property goals.

Decrease in available rental homes - how does it impact Northampton?

 

As a Northampton Estate & Lettings agent with a keen eye on the shifting dynamics of the lettings market, it is imperative to highlight the current landscape for both landlords and tenants. Across the UK, the figures are telling: available rental homes on the market have seen a notable decrease from March 2019 to March 2024, with all 12 regions reflecting this trend.

The North East has been hit the hardest, with a reduction of 58.3% in rental properties coming onto the market. As one expects, the areas close the Capital (the South East and East Anglia) have been hit hard, yet London has only seen a slight drop these numbers at 12.1%.

Irrespective of what is happening in each region, many tenants are opting to stay put for longer, creating a more stable tenancy environment. Moreover, the established rental properties have not experienced the rent hikes akin to the fresher properties entering the market. This has resulted in a two-tiered rental system, impacting both the availability and affordability of homes.

For tenants, this means navigating a market where choices may be more limited and rent for new leases potentially higher. For landlords, particularly in Northampton, the scenario is twofold: existing landlords enjoy sustained occupancy, while new landlords entering the market are capitalising on higher rental yields.

In this climate, the role of an agency like ours becomes crucial. We provide the expertise to navigate this nuanced market—whether for a seasoned Northampton landlord or those considering their first buy-to-let investment in our historic town. With our finger on the pulse of local and national trends, we offer unparalleled advice and service to ensure your letting endeavours are both profitable and attuned to the current market realities.

For a tailored insight into how these trends impact you and to discover the advantages of partnering with a local Northampton lettings expert, landlords are warmly invited to reach out. Together, we can explore opportunities within this evolving landscape.

 

 

Northampton Homeowners: Miss the 18th of June 2024 Deadline and You Might Miss Christmas in Your New Home

 

As May comes into view, with the anticipation of the warm summer months ahead of us, with sun-drenched hot beaches and cold ice cream, the thoughts and contemplations of Christmas seem a million miles away.

Yet many people who wish to move would like to be in for Christmas.

If that is you, listen up, as you might be surprised by what I tell you. Northampton home buyers and sellers dreaming of celebrating Christmas 2024 in a new home, the time to act is running out.

The property landscape has evolved significantly over the past few years, reflecting changes in buyer behaviour and the intricacies of the transaction process itself.

Recent statistics from the UK property market reveal some thought-provoking trends.

From April 2023 to April 2024, UK properties took an average of 69 days from listing their home for sale with an agent to an agreed sale, with a subsequent 112 days to completion (i.e. completion is when the keys and monies change hands). That’s a total of 181 days. This is a shift from the previous year (April 2022 to April 2023), where it took 47 days to secure a buyer and 124 days from agreement to completion.

That means if you placed your property onto the market in the first week of May, looking at the average amount of time to complete, you will be moving in the first or second week of November.

 

Northampton's local figures align closely with national trends but with its unique nuances.

 

Between April 2022 and April 2023, it typically took 35 days to find a buyer and 131 days for the legal completion in Northampton.

 

However, these past 12 months have seen a lengthening in the initial part of the selling process. It now takes about 55 days to find a buyer, though the span from sale agreement to completion has slightly decreased to 116 days.

 

This means it takes the Northampton home seller 171 days from listing their Northampton home to moving out - just under six months.

 

These numbers paint a clear picture: selling a home and settling into a new one is not as swift as many might hope. Given these timelines, homeowners looking to move home by Christmas should ideally be putting their homes on the market by late May or early June.

This allows ample time for each phase of the selling process, from attracting the right buyer to navigating the legal intricacies with solicitors. It ensures that you can put up your Christmas tree and decorations in your new living room comfortably before Christmas.

 

That means if you want to move into your new home by Friday, 6^th December 2024, you will need to put your home on the market by Tuesday, 18^th June 2024.

 

This is assuming you hit the average times scales mentioned above for Northampton.

Why the urgency? The current market conditions suggest a slower pace in securing buyers, which can be attributed to various factors, including economic uncertainties, changes in mortgage rates, and a more discerning buyer pool. The national reduced time from sale agreement to completion, however, indicates that once a buyer is secured, the process is becoming more streamlined - a positive sign for sellers.

 

Prospective Northampton sellers should also consider

the advantages of the current property market.

 

With the extended time to attract buyers, presenting your property at its best has never been more crucial. This means addressing any maintenance issues, considering upgrades that increase property appeal, and staging your home to capture the imagination of potential buyers. Effective marketing through an experienced estate agency can significantly enhance visibility and attract quality offers.

Moreover, engaging with a knowledgeable Northampton estate agent early in the process can provide crucial guidance. They can help navigate the complexities of the Northampton market, advise on realistic pricing strategies, and manage the sale process to avoid common pitfalls that could delay proceedings.

 

For those contemplating a move, the message is clear: acting sooner rather than later is prudent. The market's current pace means that starting the process in the next couple of weeks is essential to ensure you are settled in your new home in time for the festive season.

This isn’t just about moving house; it’s about moving home. It’s about ensuring that by the time December’s frost dusts the streets of Northampton, you are warm and settled, with the comforting scent of mulled wine wafting through your new home.

 

While the Northampton property market may present challenges, thorough preparation and timely action can pave the way for a smooth transition to your new home by Christmas. Remember, the perfect moment to put up your property for sale is now. Let’s make your festive dreams a reality - speak to your local estate agency today and take that first, decisive step towards your new beginning.

 

Does bedroom count affect saleability?

 

As an estate agent in Northampton, analysing the trends and patterns of the property market is crucial for providing valuable insights to homeowners, home buyers, and landlords. The recent data presented in the graphic illustrates a fascinating trend: the number of bedrooms in a home significantly impacts its saleability.

From the data, we see that homes with three bedrooms enjoy the highest success rate in sales and completions, with a striking 56.2% of such properties successfully moving home (compared to being withdrawn from the market unsold). This suggests that three-bedroom homes are currently the sweet spot for buyers in the UK, potentially due to their appeal to a wide range of purchasers, from small families to professionals looking for a home office space.

Two-bedroom homes follow closely, with a 55.0% success rate. The versatility of two-bedroom properties makes them attractive for young couples, smaller families, or individuals seeking an extra room for guests or work.

Interestingly, as the number of bedrooms increases beyond three, the saleability decreases, with four-bedroom homes at 44.9% and five-plus bedroom homes at 39.7%. This could indicate a lesser demand for larger properties, possibly due to higher running costs or a more limited buyer pool.

For Northampton homeowners considering selling, this data suggests that properties with two to three bedrooms are most aligned with buyer demands in the current market.

Northampton landlords might also take this into account when purchasing properties to let, ensuring they invest in homes with optimal saleability. For Northampton home buyers, understanding these trends can guide them in making a purchase that is not only a fit for their needs but also a sound investment for the future.

Therefore, it's clear that bedroom count does affect saleability, and this insight can be used by everyone to navigate the Northampton property market effectively.

 

 

Northampton Property Market Review: The April 2024 Update

 

Northampton homeowner or landlord? Curious about the trends in the Northampton’s property market? One measure is the average price paid for homes bought and sold in Northampton in the last 12 months, on a rolling month by month basis. Each month I like to share this figure, and whilst this figure alone will not tell you much, its trend will. My followers on social media know I write regular articles on the Northampton property market. It is in those articles I expand and clarify what these monthly figures mean to you.

Whether you are contemplating selling your property or simply interested in understanding its current market value, I’m here to help. I provide detailed, no-obligation free market appraisals, designed to guide your future property related decisions.

Keep yourself informed and a step ahead in understanding the true worth of your property in Northampton. For a hassle-free, comprehensive market evaluation of your home, contact us at 01604 801 962. Let's explore the potential of your Northampton property together.

 

Northampton Property Owners Reap Yearly Gains

 

As we are now nicely into 2024, it's certain the Northampton housing market over the last 18 months has been a little more restrained than 2020, 2021 and early 2022, and I believe that the ‘steady as she goes’ outlook will continue into the rest of 2024 and beyond.

As property ownership is a medium to long-term investment, it is important to see what has happened to Northampton house prices.

Since the start of the Millennium (Jan 2001), the average Northampton homeowner has seen their property’s value rise by an average of 173%.

 

This is important as house prices are a national obsession and tied into the health of the UK economy as a whole. Most of that gain has come from the overall growth in Northampton property values, while some of it will have been enhanced by extending, modernising or developing their Northampton home.

Taking a look at the different types of property in Northampton and the profit made by each type, it makes interesting reading:

·       Overall Average For All Homes in Northampton. The average price of all homes in Northampton in 2001 was £91,873. Now it's 2024, and it has risen to £247,967. This is a total profit of £156,094 (which is £6,787 profit per year per home or an annual growth of 7.5% per year). 

·       Apartments in Northampton. The average price of an apartment in Northampton in 2001 was £57,774. Now it's 2024, it has risen to £146,599. This is a total profit of £88,825 (which is £3,862 profit per year per home or an annual growth of 6.8% per year). 

·       Terraced/Town Houses in Northampton. The average price of a terraced/town house in Northampton in 2001 was £70,173. Now it's 2024, it has risen to £216,563. This is a total profit of £146,390 (which is £6,365 profit per year per home or an annual growth of 9.1% per year). 

·       Semi-Detached Homes in Northampton. The average price of a semi-detached home in Northampton in 2001 was £85,736. Now it's 2024, it has risen to £249,872. This is a total profit of £164,136 (which is £7,136 profit per year per home or an annual growth of 8.4% per year). 

·       Detached Homes in Northampton. The average price of a detached home in Northampton in 2001 was £144,336. Now it's 2024, it has risen to £378,062. This is a total profit of £233,726 (which is £10,162 profit per year per home or an annual growth of 7.0% per year).

However, we can’t forget there has been 79% inflation over those 23 years, which eats into the ‘real’ value (or true spending power of that profit) … so if we take into account inflation since 2001, the true ‘spending power’ of that profit has been lower.

 

·       Overall Average For All Homes in Northampton. The total 'real profit' (i.e., after inflation has been removed) for the average Northampton home is £86,864 for the last 23 years. This equates to £3,777 'real' profit per annum. 

·       Northampton Apartments. The total 'real profit' (i.e., after inflation has been removed) for the average Northampton apartment is £49,430 for the last 23 years. This equates to £2,149 'real' profit per annum. 

·       Northampton Terraced/Town Houses. The total 'real profit' (i.e., after inflation has been removed) for the average Northampton terraced/town house is £81,464 for the last 23 years. This equates to £3,542 'real' profit per annum.

·       Northampton Semi-Detached Homes. The total 'real profit' (i.e., after inflation has been removed) for the average Northampton semi-detached home is £91,339 for the last 23 years. This equates to £3,971 ‘real' profit per annum.

·       Northampton Detached Homes. The total 'real profit' (i.e., after inflation has been removed) for the average Northampton detached home is £130,065 for the last 23 years. This equates to £5,655 'real' profit per annum.

 

Thus, the annual profit for an average Northampton home,

adjusted for inflation, stands at £3,777.

 

I wanted to illustrate that despite the 2008/09 Credit Crunch property market crash, which saw Northampton property values plummet by 15% to 20% over 18 months, homeowners in Northampton have still fared better over the long term than those renting.

 

Looking ahead, a common question I get asked is about the future trajectory of the Northampton property market.

 

The primary influence on maintaining house price growth in Northampton over the medium to long term will be the construction of new homes locally and nationally. Although we have yet to get the figures for 2023, government sources indicate that the number of new households is expected to be between 210,000 and 220,000. Considering the annual need is for 300,000 new households to meet demands arising from factors such as immigration, increased life expectancy, higher divorce rates, and later cohabitation, it’s clear that demand will continue to outstrip supply unless the government heavily invests in building council houses.

 

This can only be good news for Northampton homeowners.

 

What about Northampton landlords, though?

Even though the number of landlords liquidating their property portfolios has increased in the last couple of years and the number of landlords buying is lower than in the 2000s and 2010s, there is still net growth in the size of the private rented sector each year. This is all despite facing higher taxes. The simple fact is many Northampton landlords remain keen on expanding their portfolios in the long term.

The younger generation in Northampton views renting as a choice that offers flexibility and alternatives that homeownership does not provide. This means that demand for rentals will keep growing, allowing landlords to enjoy rising rents and capital appreciation. However, Northampton buy-to-let landlords must adopt more thoughtful strategies to maintain profitable returns from their investments.

 

As a Northampton buy-to-let landlord, the question for you is how to ensure this growth continues.

 

Since the 1990s, generating profits from buy-to-let property investments was straightforward. Moving forward, with changes in the tax laws and the balance of power, achieving similar returns will be more effortful. Over the past decade, I've observed the evolution of agents from mere rent collectors to strategic portfolio managers. I, along with a select few agents in Northampton, am adept at providing comprehensive, strategic portfolio leadership. This service offers a structured overview of your investment goals across short, medium and long-term horizons, focusing on your expected returns, yields and capital growth. If you seek such advice, feel free to contact your current agent or me directly at no cost or obligation.

2-Bed or 3-Bed Northampton Homes: Which Sells the Fastest?

 

Understanding the nuances of property sales is essential for both homeowners and investors in the dynamic Northampton property market.

A few weeks ago, I stated that of the Northampton properties that have sold subject to contract (stc) in the three months of Dec, Jan & Feb, it took an average of 41 days to sell. 

Now time has moved on, looking at the Jan, Feb and March Northampton house sales, this has slightly improved, so now …

 

The average Northampton home in Q1 2024 was on the market for an average of 39 days before agreeing on a sale.

 

This change, though minimal, is noteworthy against the backdrop of the UK's economic environment.

As a seasoned estate agent in Northampton, my interactions with landlords and homeowners eager to navigate the Northampton property market have revealed a common query: the impact of property type and the number of bedrooms on its saleability.

Saleability can be measured in several ways. One method is to calculate what percentage of homes of that type, etc, sell compared to how many do not. Another is to calculate how long it takes to agree on a sale. A few weeks ago, I looked at how the price range affects how long it takes to agree on a sale. Therefore, for this article, I wish to look at how quickly a property sells when looking at the type of property or the number of bedrooms.

 

Northampton Detached, Semi-Detached, Terraced or Flat –

Which sells the quickest?

 

Looking at the home sales that have taken place in the last three months, this is how long it has taken to find a buyer for the different property types:

 

·       Detached homes in Northampton - 52 days to find a buyer.

·       Semi-Detached homes in Northampton - 35 days to find a buyer.

·       Terraced/Town houses in Northampton - 31 days to find a buyer.

·       Flats/Apartments in Northampton - 39 days to find a buyer.

  

Northampton 1 beds, 2 beds, 3 beds, 4 beds or even 5+ beds –

Which sells the quickest?

 

Looking at the home sales that have taken place in the last 3 months, this is how long it has taken to find a buyer for the different bedroom types:

 

·       One bed homes in Northampton - 39 days to find a buyer.

·       Two bed homes in Northampton - 35 days to find a buyer.

·       Three bed homes in Northampton - 36 days to find a buyer.

·       Four bed homes in Northampton - 43 days to find a buyer.

·       Five bed (or more) homes in Northampton - 49 days to find a buyer.

Drilling down into the numbers, it becomes apparent that Northampton terraced/town houses are the quickest to sell when it comes to type of property and Northampton properties with two bedrooms sell the quickest.

 

The Current Northampton Property Market Landscape

 

The present-day Northampton property scene presents a mixed bag. An increase in listings compared to 12 months prior suggests a vibrant market, yet it must be remembered that there has been an increase in selling times, which hints at a shift towards a buyer's market (in 2022, it took an average of 46 days to secure a home sale, whilst, in 2023 it was 68 days). This nuanced change underscores the importance of strategic selling and investment approaches in today's climate.

Understanding and adapting to these shifts is critical for those selling their homes. The proper presentation and pricing strategy can significantly enhance your Northampton property's appeal, aligning it with current buyer preferences and market trends.

On the investment side, properties that have lingered on the market might represent hidden gems. These situations often allow for more negotiation leeway, potentially leading to advantageous deals.

 

As we enter Q2 of 2024, the Northampton property market is ripe with opportunities. Sellers must be attuned to what resonates with today's buyers, leveraging insights on preferred property types and sizes to their advantage. Meanwhile, Northampton buyers and buy-to-let investors can find value in exploring properties that have been on the market longer than average, where negotiation can yield significant benefits.

 

Expert Advice for Navigating the Northampton Property Market

 

In navigating the Northampton property market, several strategies can prove invaluable.

 

For Sellers: Emphasise your property's unique selling points, be its location, size or specific features. Ensure your Northampton property is well-presented. Setting a realistic price based on current market trends and comparable sales will expedite the selling process.

For Buyers and Investors: Conduct thorough research to identify areas with high growth potential or market-undervalued properties. Consider properties others may have overlooked, as these can often be negotiated to a more favourable price.

For Everyone: Stay informed. My Northampton property blogs and national property news can keep you abreast of local market trends and provide a strategic edge, whether you're selling buying or investing.

 

With its ever-shifting dynamics, the Northampton property market presents many opportunities and challenges. For sellers, aligning with market preferences and presenting your property in the best light is crucial. Buyers and investors, on the other hand, should look for potential in less obvious places where patience and negotiation can unlock significant value. Navigating this landscape requires market knowledge, adaptability, and strategic action.

Whether you're looking to sell your cherished home or make a savvy investment, understanding the pulse of the Northampton property market is your key to success. If you have any questions about what I've said in this or any of my articles on the Northampton property market, please do not hesitate to contact us by telephone, email, direct message or text.

 

Homes for Sales in March 2024 vs March 2023

 

The UK housing market is bustling with activity as shown in our latest March 2024 property market data, revealing some changes from just a year ago in March 2023. 

There's a notable uptick across the board, except for Northern Ireland, which experienced a 6.2% decrease. 

Yet, the spotlight for properties on the market shines on the South West, boasting an impressive 19.1% increase, heralding a significant influx of homes on the market. Wales and the East Midlands aren’t far behind, with increases of 14.5% and 16.9%, respectively, signalling a promising variety of new homes to live in for prospective buyers.

Scotland and London present contrasting scenes; Scotland sees a 7.4% rise while London shows a modest 3.8% climb, perhaps reflecting the capital’s already saturated market. The North East, North West, and Yorkshire & the Humber regions are also flourishing with 9%, 11.3%, and 17.3% increases, respectively, suggesting a robust expansion in choices for those seeking new beginnings. 

For those enchanted by East Anglia, there's a 14% growth, and the West Midlands isn't far off with a 14.1% bump. The South East also shows a healthy 11% rise, further adding to the broadening landscape of options.

With more homes on the market, Northampton’s homeowners, landlords, and future residents now have a wider selection to find their perfect dwelling, possibly the forever home they've been dreaming of. If you're contemplating a move, seize this well-timed moment and reach out to our Estate Agency in Northampton, where your new home journey begins.

Top of the Pops in Sales - which month is the best?

As we move through April, it's the perfect opportunity for those considering entering the Northampton property market to appreciate an important insight. 

Our comprehensive analysis of 5,654,563 home sales since April 2019 shows that while there are peak months, the difference in the number of properties sold each month—excluding January and December—is relatively marginal (no more than plus or minus 5% difference between the months). 

However, if we were to spotlight months where sales were slightly higher, March, October, and February stand out from the rest.

It's worth also noting that it's not just about the 'when' but also the 'how'. While some may consider timing the market, the consistency across the year offers a reassuring sign that any month could be the right time to sell your Northampton property, with the right approach and guidance.

Whether you're looking to buy or sell, our team at Belvoir Estate & Lettings Agents provides tailored advice that aligns with your unique circumstances, ensuring you don't miss out on the consistent opportunities the Northampton property market presents. Now is as opportune a time as any to make your move in the property market, and we are here to assist every step of the way.

How many homes have been sold?

 

Attention Northampton homeowners and landlords! The vibrant Northampton property market has seen a remarkable 65,149 homes change hands since 1995. This impressive figure is more than just a testament to the Northampton’s growth; it's a narrative of countless individual success stories and the area's resilience in the face of changing market conditions.

Each transaction represents a family's new beginning, a savvy investor's smart move, or perhaps a young professional's first step onto the property ladder. As a dedicated estate and letting agent in Northampton, we are proud to have witnessed, and contributed to, many of these journeys.

Understanding the significance of these numbers can help us forecast the future of our local Northampton property market. For those considering selling or renting out their properties, this statistic highlights the ever-present demand and opportunities in Northampton.

If you're looking to make your own mark in this thriving market, let's talk about how you can benefit from these insights. Your property story could be part of the next milestone in Northampton’s property history!

 

 

Energy efficiency is no small matter

 

As we navigate through a world where sustainability and cost-efficiency are at the forefront of Northampton homebuyer and tenant priorities, understanding the energy efficiency of Northampton properties has never been more critical. 

The energy performance certificate (EPC) ratings, ranging from A (most efficient) to G (least efficient), are not only indicative of a Northampton property’s environmental footprint but also have a substantial impact on the running costs for households.

Our latest heat map offers a compelling visual representation of Northampton, showcasing the concentration of properties with the coveted 'A to C’ EPC ratings.  

These top-tier energy efficiencies are a testament to the area's commitment to green living and cost-effective energy use. 

The map of Northampton reveals what percentage of homes boast those highest energy A to C’ efficiency ratings, offering residents the dual benefits of lower energy bills and a reduced carbon footprint.

Energy efficiency in Northampton homes is no small matter.  

With the rise in energy costs, the higher 'A', ‘B’ & ‘C’ rated EPC homes not only ensures a warmer, more comfortable living environment but also contributes to substantial savings over time. 

Moreover, these ratings influence property desirability and value, making them a crucial consideration for both current and prospective Northampton homeowners & tenants.

 

For detailed insights into how EPC ratings could affect your Northampton property’s appeal and marketability, or if you have any queries regarding your home’s energy efficiency, feel free to reach out. As a knowledgeable estate and letting agent in Northampton, I am here to assist you, irrespective of whether you are considering selling or renting your Northampton home or simply seeking advice on improving its energy performance.