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First time buyers

First time buyers

First time buyers

The UK housing market has gone through some fairly seismic changes over the past 12 months - but there could be good news on the horizon for many, especially young professionals in London looking to get a foot on the housing ladder. Storeys is a Hackney estate agent with a broad catchment area that extends to Islington and Shoreditch and we have supported many buyers and sellers on their journey with property throughout the pandemic. As the market begins to stabilise this year it could be an even better time to start your new search.

What impact did 2021 have?

The stamp duty holiday came to an end in 2021, which made this a fairly frenetic year for potential buyers. In fact, statistics now tell us that it was the stamp duty holiday that drove around 1.5 million house purchases last year. As a result, 2021 was the strongest year in a long time for mortgage lending and around £316 billion was signed up in home loans. 2021 was also the year in which relocation and upgrades became a bona fide trend, especially with respect to people looking to move to bigger properties with outside space. For some, the goal was to get out of the city and find a lifestyle with more nature and less crowds in it. Both of these trends are continuing in 2022 although with perhaps less pace than in previous times.

What can we expect from the housing market in 2022?

Most of the experts we have come across predict more stability for the UK housing markets. Hackney estate agents are already taking a significant number of enquiries from interested buyers so there isn't likely to be any drop in demand. Supply remains the issue, especially when it comes to properties that are going to be suitable for the significant proportion of young professionals who choose to make areas such as Islington, Shoreditch and Hackney their home. You'll need to work with the right estate agent in Hackney to find your ideal home here. Nevertheless, the signs are positive, with the housing market forecast to return to "normal" this year - and that's despite the fact that the Bank of England recently raised its interest rate from 0.10% to 0.25%.

Who are the conditions ideal for this year?

Storeys has a long, rich history as a London estate agent and has supported many different types of buyers and sellers over the years. We can provide you with the resources and guidance that you need, whatever the type of property transaction you're interested in. Our team has identified particular opportunities this year for any buyers who were previously put off dipping a toe in the housing market by the fast and hectic pace of purchases and sales over the past year. As things start to calm down, now is a far better moment for buyers who prefer a more peaceful environment and the opportunity to take their time.

Storeys is an estate agent in Hackney with a wealth of experience supporting people buying and selling across London. Contact our team to find out more.

10 February 2022Written by Andrew Blythe

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Residential lettings
We pride ourselves on being genuine industry experts, providing a positive experience, from enquiry to after care. Storeys focuses exclusively on lettings, and we value properties, we don’t just list them. Knowledge and innovation mean we can be competitive on costs while also delivering an individually tailored service.
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Valuation
Aesthetics, natural light, building quality, and overall finish – these aren’t ‘extras’ in a Storeys valuation, they’re as much a part of the process as size, condition and location. We look at individual property potential, not generic criteria. Factors like space for modern living arrangements, such as flexible working, are incorporated too. Our valuations are all the more accurate and successful for it. There is a perfect tenant for every property if you know how to find them.
Short-term lettings
Providing value for tenants and continuity for landlords, Storeys short-term lets run from 4 weeks to 6 months. We work with major London relocation teams and a global contacts network to match international tenants to perfect London properties.
Vacant property Management
We can manage your vacant property in-between tenancies or refurbishment, giving you peace of mind that the property is being looked after and inspected on a regular basis.
Superior Marketing
There is just no comparison between static photos and VR when it comes to property marketing. VR allows tenants to do a virtual walk around and get a realistic feel for the property - their expectations are grounded in reality, and properly managed. This makes VR a very effective tool, not just for generating interest and viewings but also converting those to offers. That’s why we partner with VRPM to create a virtual reality perspective for every property we handle.
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We can manage your Airbnb account and make sure each booking runs smoothly, keys are always available for handover and the property is ready for the next occupation. This can run very well alongside our short-term corporate letting service.
Rent Protection
If your tenant defaults on the rent, Storeys have you covered. We also cover your legal expsenses and pay you rental income if your property is vacant whilst we remarket for new tenants. Don’t worry Storeys have your back.*ask a member of the team for more info. This service is included for every Storeys managed property.
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