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Buy to let investors and second home purchasers drove up demand earlier in the year, as the rush to beat April's stamp duty increase took full effect - this March saw an all-time high in residential property transactions. With the referendum fast approaching though, questions are inevitably being asked about what Britain leaving the EU could mean for the housing market.

'Before any large event that can significantly affect the economy, many arguments are presented to sway voters which creates uncertainty in the market and as a result, everyone makes much more cautious decisions until the outcome is certain', commented, Director, Andrew Sainsbury. 'We saw this last year with the General Election, with a quieter period of activity in the lead up to the vote and we're seeing similar with the Referendum. If the UK was suddenly freed from EU regulations, the UK could attract more investment and the property market would inevitably benefit. Conversely, if, as expected, immigration from Europe fell following a 'leave' scenario, fewer people, would mean less demand, leading to a negative effect on property prices. There are many ifs and buts, but in the meantime we expect to see less activity in the market than is normal for June until the result is clear - roll on the 23rd June!'

In the meantime, Granger & Oaks continues to monitor individual tenancy rent levels very closely. If you're in any doubt about the enormous benefits a tenancy renewal can deliver to your bottom line, read our article on tenancy renewals from earlier in the year here.

BALI

 

Every month we like to highlight all the great work done by all the wonderful property professionals at Granger & Oaks during the previous month. ‘Treating it like our own’ has always been our guiding principle, so each month we like to put the spot-light on the individual that has done the most to go the extra mile for clients and really ‘treated it like their own’.

This month’s winner has coped extremely well with the sales process, chasing solicitors, advising vendors, more chasing, dealing with some complicated sales and yes, more chasing. And all between being in and out of the office doing viewings and attending auctions, some of which were in her own time too, demonstrating another example of her commitment to ‘treating it like our own’!

Yes, this month’s winner is Sales Negotiator extraordinaire Bali ‘sold it’ Sidhu! Well done Bali, you continually go the extra mile for clients helping to get their properties ‘flying off the shelves’ in the quickest time and for the highest price.

A special mention this month goes to Senior Property Manager, Lauren Veale, for offering support and guidance to the team as and when necessary and calmly and effectively dealing with some difficult notices from tenants for the benefit of clients. A special mention also goes to Apprentice Property Administrator, Luke Jeffries, for his commitment and for making excellent progress since joining the team only a few months ago. Well done all. 

Local tennis club, Magdala again open their doors this weekend for their annual Open Day. Sponsored by Granger & Oaks, the event gives local residents the chance to try out the club for size and see if tennis is something they wish to take-up. 

There will be competitions on the day, and the chance to try out the latest rackets and mingle with the current members. Granger & Oaks are helping promote the event, and we'd love to see you there.

LEAFLET - Magdala Tennis Club Open Day 2016

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Every month we like to highlight all the great work done by all the wonderful property professionals at Granger & Oaks during the previous month. ‘Treating it like our own’ has always been our guiding principle, so each month we like to put the spot-light on the individual that has done the most to go the extra mile for clients and really ‘treated it like their own’.

The winner this month has had an eventful time, but has remained professional and calm under some difficult circumstances. There were also a number of things that stood out as ‘treating it like own’ from extremely thorough inventories and inspections to double checking Right to Rent statuses, all of which ensure our landlord clients are fully protected.


Yes, this month’s winner is the one and only Inventory and Inspection Clerk extraordinaire Charlie Hoskins. Well done Charlie, you’ve really found your stride in your role, keep up the great work!

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Every month we like to highlight all the great work done by all the wonderful property professionals at Granger & Oaks during the previous month. ‘Treating it like our own’ has always been our guiding principle, so each month we like to put the spot-light on the individual that has done the most to go the extra mile for clients and really ‘treated it like their own’.

This month two very worthy colleagues in particular have been put forward for the award. One colleague took on extra work load covering for other members of staff and did a fantastic job of keeping the team motivated whilst another colleague also took on extra whilst managing a complicated transfer of a large luxury property from another agent with complete professionalism. End result, happy clients, happy colleagues.

There can only be one winner however, and bearing in mind our guiding principle of ‘treating it like our own’, this month’s winner is Property Manager extraordinaire, Giulia McDonough. Well done Giulia, as you always say, you work at your best when you are stretched and very busy and this last month has definitely proven that theory!

Wow, Christmas seems like only yesterday, but Easter is already fast approaching. The great news is that Easter means spring has pretty much arrived, and this year the daffodils are already out in force and the buds on the trees are already starting to open. Summer is only just round the corner!

For most parents, Easter means Chocolate, and probably too much of it. Easter 2016 also means bizarre school holidays with children off for the bank holiday weekend, but then back to school for  4 days until the challenge of juggling childcare for the 2 week holidays. Easter also means getting out the paint pots, tissue, and sticky tape and doing your best arts & crafts, so we thought we'd offer a little non-chocolatey incentive....

Following on from our Halloween Pumpkin carving competion, for Easter we're holding an egg decorating competion. The theme is Superheroes, or Disney Princesses, and we'll be giving prizes for the best efforts. There are two age ranges, 7-year-olds and under, and 12-yeasr-olds and under, and there are prizes for Best Superhero, Best Princess, and Most Original Egg, so we'd love it if your child got involved. 

Feel free to hard boil, or blow. Do one egg, or do half a dozen in a tray and make an omelette for lunch whilst you're at it. Eggs can be painted, covered, dressed, wearing a hat & coat, on a stand, in an egg box. They can be however you want them...

To enter, we'll need all entries by Good Friday, along with the childs name, a telephone number, and email address. The winners will be announced on our website, and on our Facebook page and there will be pictures of the winners and their creations in our window, on the website and facebook, and other shop windows in and around Carrington.

What are you waiting for? Get Cracking!

Superheroes  Disney Princess Egg Painting Competition jpgweb

 

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Most council’s in England work to a minimum bedroom size of 6.5 square metres and this does not usually change even if there are sloping roofs. Under Nottingham’s HMO licensing scheme however, Nottingham City Council maintains that bedroom floor sizes need to be at least 8 square metres and where the ceiling height is less than 1.53 metres due to a sloping roof for example, this area is excluded when calculating the minimum 8 square metre overall floor size requirement for a bedroom.

Dominic Parr, a local Nottingham Landlord had initially been refused to let out an attic room, because the council claimed it was too small for someone to sleep in, but this week he successfully defended the decision of the Lower Residential Property Tribunal (First-tier Tribunal (Property Chamber) at the Upper Tribunal in London after the Nottingham City Council appealed the lower tribunal decision.

Mr Parr argued that the room was big enough, measuring over 9.29 square metres, with ample space for a bed. However, Nottingham City Council said when the sloping roof was taken into account there was not much more than 5.85 square metres of living space and ‘ought not to have been regarded as suitable for occupation as a bedroom at all’ as the minimum amount of space required by the council is 8 square meters. However in the case heard by the Upper Tribunal in London, Judge Martin Rodger QC sided with Mr Parr, commenting that 'packing themselves into shared houses was a price students were willing to pay for the pleasure of social interaction and cohesive living’ and added that ‘the basic idea of a house shared by a number of individuals, not forming a family, but who nevertheless wish to share communal living facilities and a significant level of social interaction, is readily understood.’

Mr Parr is now able to let the attic room, but only to a person in full time education who lives in it for a maximum of 10 months a year.

GMSTARPERFORMER

Every month we like to highlight all the great work done by all the wonderful property professionals at Granger & Oaks during the previous month. ‘Treating it like our own’ has always been our guiding principle, so each month we like to put the spot-light on the individual that has done the most to go the extra mile for clients and really ‘treated it like their own’.

This month we have a resounding winner with lots of nominations for one colleague in particular. The winner has been praised for remaining positive in the face of extra workload and remaining calm and friendly in difficult situations. They have kept the team motivated and trained colleagues in new duties allowing the team to continue to thrive.

The very deserved winner this month is Property Manager extraordinaire, Giulia McDonough! Well done Giulia, you really do thrive when the pressure is on and alwasy pull out all the stops to ensure each property is treated like it's your own.

Bali Star Performer Dec 152

Every month we like to highlight all the great work done by all the wonderful property professionals at Granger & Oaks during the previous month. ‘Treating it like our own’ has always been our guiding principle, so each month we like to put the spot-light on the individual that has done the most to go the extra mile for clients and really ‘treated it like their own’.

This month’s winner has had a lot to take on this month, but colleagues have been commenting on how well this person has got to grips with new elements of their role and has managed to shine and really show that ‘treating it like their own’ is at the forefront of what they do.

This month's very deserved winner as voted by her colleagues is expert Sales Negotiator, Bali ‘Sold it’ Sidhu! Many congratulations Bali!

Special mentions this month to go Philip Wardle for providing some very vital information to the Property Management team following inspections and check outs and also to Giulia McDonough for her dogmatic approach to sorting some very complex property management issues while keeping clients and tenants happy under difficult circumstances. Well done all.

 

wanted

 

An Apprentice Property Receptionist is required to join our highly regarded lettings and estate agency based in Nottingham. Supporting the lettings team, this is an exciting opportunity which offers full training towards a Customer Service, Business Administration or Lettings and Property Management NQV.  

The role will include:

  • Helping tenants with their property search by email, phone and face to face
  • Arranging viewings
  • Dealing with tenancy applications and references
  • Providing general office support to the lettings and sales teams 

We hire for attitude over qualifications, and though similar work experience is desirable, it is by no means essential. You must, however be able to demonstrate you can fulfil the requirements of role.  

Key Requirements:  

  • Can communicate well face to face, in writing and on the phone  
  • People person  
  • Computer literate (use of Microsoft Office (Word, Excel, Outlook)  
  • Attention to detail  
  • Conscientious  

Benefits:  

  • Pay: £3.50 per hour (increased after Apprenticeship completed)
  • Holidays: 25 days holiday plus bank holidays and your birthday off!
  • Training: in-house training and support and time off to work towards either a Customer Service, Business Administration or Lettings and Property Management NQV.  

Hours: 9am to 5.30pm Monday to Friday plus 1 in 4 Saturday Mornings (9.30am to 13.30pm).

If you would like to be considered for the position, please forward a covering letter with your CV by e-mail to Andrew Sainsbury (This email address is being protected from spambots. You need JavaScript enabled to view it.) describing your previous experience and why you think you fulfil the requirements of the role.

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Every month we like to highlight all the great work done by all the wonderful property professionals at Granger & Oaks during the previous month. ‘Treating it like our own’ has always been our guiding principle, so each month we like to put the spot-light on the individual that has done the most to go the extra mile for clients and really ‘treated it like their own’.

This month’s winner has been working out of their comfort zone recently, but has taken to new tasks like a duck to water. They have remained calm in some very difficult situations and managed to defuse and resolve some complex issues with our clients interests at heart. They’ve shown great initiative when going out on viewings and really gone the extra mile for clients, proving that she really knows how to treat every property as her own!

This month’s winner is Property Administrator extraordinaire, Bernadette Cunnane! Well done Bernadette, you continue to make excellent contributions to team and the service you provide clients is second to none.

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Buy-to-let landlords and people buying second homes will soon have to pay more in stamp duty, the chancellor has announced. George Osborne made the surprise announcement in his Autumn Statement, alongside a pledge to encourage a vast house-building programme and to extend the Help To Buy programme by a year to 2021.

From April 2016, those in England and Wales will have to pay a 3% surcharge on each stamp duty band and understandably there’s been an angry reaction from letting agents and landlords. George Osborne said the new surcharge would raise £1bn extra for the Treasury by 2021.

‘Whilst the increase in stamp duty might be good for first time buyers, it will eventually have a negative impact on buy to let investors and subsequently the rental market’, commented Jonathan Detheridge, Managing Director at Granger & Oaks. It's the second time landlords have been hit in six months, after Osborne scrapped relief on mortgage interest payments during his pre-election Budget. Landlords with higher mortgages and therefore particularly affected by the changes to tax relief announced in July (see Summer Budget and Landlord Tax Changes) are likely to be especially cautious going forwards, which may ultimately lead to a shortage of good quality properties. Put simply, fewer landlords will enter the market, there will be a lack of supply and rents will be likely to rise.’

Buy to Let investors considering expanding their portfolio’s and who wish to take advantage of the current stamp duty rates, can view all our current for sale listings here. Please do not hesitate to contact us on 0115 9629770 if you would like to arrange a closer inspection.

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The NAEA housing market report for August is out today and the results echo our findings here in Nottingham. 

The headline numbers reported are;

There are over 10 times more registered applicants than houses for sale. 

Stock levels are at their lowest for 11 years

First Time Buyer levels dropped back to 20% of transactions.

Read the full report here.  pdfNAEA_Housing_Market_Report_August_2015.pdf

As half-term comes round again, here's a competition for the children....

We'd like to see who can carve the best Halloween Pumpkin?

The winning entrees will recieve goodie bags of halloween treats and all things ghoulie in time for Halloween on October 31st. 

Granger & Oaks Pumpkin Competition 2015

All entrees will be displayed in our office window, and we'd like Mums & Dads, and Aunties & Uncles to come in and vote for the best efforts on Thursday 29th & Friday 30th of October. 

If you can't p-p-pick up a pumpkin, we've got a supply of fine orange ghourds here in the office, so please pop in and pick one up with our compliments. It's first come, first served, and when theyre gone, they're gone, so get a wriggle on... 

We'd like all entrees in the office by the time we close on Wednesday, so come and get a pumpkin and do your scary best.

The winner will be announced on our Facebook page on Friday 30th. 

If you're looking for an agent that responds quickly to an enquiry, results from the Rightmove Mystery Shop suggest you should look no further than Granger & Oaks. 

In a sample Mystery Shop of companies attending Rightmove's Nottingham Breakfast Seminar for member agents, Granger & Oaks were rated 2nd in Sales, and 3rd in lettings for the time it took to respond to an enquiry. Hardly scientific we know, but it shows how hot we are at responding to leads that are looking to buy or rent!

We thought it was worth some bubbles to celebrate on a wet October morning. 

 Granger & Oaks top 3 agent

Pic. Nicole Edwards, the fastest phone in the West. 

With the vast majority of property commentary being London and the South East focussed, it is refreshing to see a propery portal taking notice of what is going on around the country, so here at Granger & Oaks HQ we were thrilled to be asked to comment on what is going on in the area by fast growing new property portal On The Market.

Nottingham OTM

"With England winning the Ashes at Trent Bridge in the summer, and the release of 'I Believe in Miracles' this week it is great to see Nottingham in the news for the right reasons again. Add to that, the opening of the tram extension, a rash of new bars and restaurants, and the long overdue revamp of the shopping centres, and Nottingham is starting to feel like it is on the up again" comments Jonathan Detheridge, Head of Granger & Oaks.

You can read the blog here 

Granger & Oaks sell, let & manage property across Nottinghamshire. The company is independent & in 2013 celebrated it's 10 year anniversary. We are licensed by ARLA & the NAEA, and offer a high quality service that is competitively priced.

 

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Every month we like to highlight all the great work done by all the wonderful property professionals at Granger & Oaks during the previous month. ‘Treating it like our own’ has always been our guiding principle, so each month we like to put the spot-light on the individual that has done the most to go the extra mile for clients and really ‘treated it like their own’.

It is well known that this person always strives to do their best for landlords and treats every property as if it were their own, but this month’s winner has surpassed even themselves this month by driving a very steady ship through a period of what is traditionally a very busy period in the lettings cycle. They have been a rock to colleagues and covered the entire spectrum of lettings activities whilst her fellow team members take much deserved holidays. She even volunteered to dispose of some rodents that were causing mischief at one of our clients properties, now that really is ‘treating it like your own!’

The winner of this month’s Star Performer, as voted by her colleagues is none other than Office Manager extraordinaire, Diane Bown.

Great work Diane, your hard work and commitment to great customer service is highly commendable. You’re an example to us all.

Nicole Star Performer 03.09.15

Every month we like to highlight all the great work done by all the wonderful property professionals at Granger & Oaks during the previous month. ‘Treating it like our own’ has always been our guiding principle, so each month we like to put the spot-light on the individual that has done the most to go the extra mile for clients and really ‘treated it like their own’.

With the summer letting season in full swing, this month’s winner has seen a huge increase in their workload, but has remained calm and focused to get the job done for the benefit of clients, tenants and colleagues alike.

Yes this month’s winner, as voted by her colleagues is none other than Property Administrator extraordinaire, Nicole Edwards.

Well done Nicole, we know you’ve taken on a lot this month. Your hard work and dedication has allowed a very busy month to run smoothly for all concerned. You are an example to us all.

Special mentions this month go to Senior Property Manager, Lauren Veale, who as always, stepped up admirably to fill in for the Office Manager, Diane Bown whilst she took a well deserved holiday. Having a very full workload to return to, Diane was thoroughly prepared and had the office running like clockwork even before her return. A thank you also goes to Property Manager, Giulia McDonough, who as always has worked exceptionally hard and everyone continues to appreciate her positive “can do” attitude, a very useful trait in property management.

 

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There were a number of measures annouced in the Summer Budget that will impact the taxation of property income and which landlords should be aware of.

These will include:
1. The abolition of the 10% wear and tear allowance (see details below)
2. The restriction of tax relief to the basic rate (20%) for loan interest on funds raised to purchase residential property for letting. This will be phased in over four years from April 2017; and the current £4,250 rent-a-room allowance is to be increased to £7,500 from April 2016.

The abolition of the wear and tear relief will apply from April 2016. It will be replaced by a new replacement furniture relief. The new relief will be available to landlords of unfurnished, part furnished and furnished properties. The relief will not apply to ‘furnished holiday letting’ (FHL) businesses and letting of commercial properties, because these businesses receive relief through the Capital Allowances regime. The new replacement furniture relief will only apply to the replacement of furnishings. The initial cost of furnishing a property would not be included.

Under the new replacement furniture relief landlords of all non-FHL residential dwelling houses will be able to claim a deduction for the capital cost of replacing furniture, furnishings, appliances and kitchenware provided for the tenant’s use in the dwelling house, such as:

  • movable furniture or furnishings, such as beds or suites,
  • televisions,
  • fridges and freezers,
  • carpets and floor-coverings,
  • curtains,
  • linen,
  • crockery or cutlery,
  • beds and other furniture

Landlords of furnished residential let property considering the replacement of these qualifying items in the current tax year, 2015-16, may be advised to defer expenditure until after 5 April 2016. In this way they will still maximise their claim to the present wear and tear allowance of 10% of rents for 2015-16, and be able to claim the new replacement furniture relief from 6 April 2016.

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We might not be winning any Oscars just yet, but the introduction of video inspections and video inventories earlier this year continues to offer greater insights to our clients on how their properties are being maintained. Diane Bown, Office Manager at Granger & Oaks, commented, ‘the use of video is providing a clearer picture to clients of how their investment properties are being maintained. It’s also having the added benefit of removing the subjectivity of written inventroies when video is used in tenancy deposit disputes, which are proving to be far more objective'. Feedback from clients and tenants alike has been very positive. We hope our clients will continue to enjoy the benefits of this exciting advancement to the service provided at Granger & Oaks.

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Supply Shortage Bottleneck

The Nottingham housing market stays in a state of flux with potential buyers finding themselves trapped by a lack of choice in the market. After a healthy 2014, many had predicted more of the same for 2015, but that so far it hasn’t materialised. The return of first time buyers over the past 18 months has been welcomed, but the story across the board is becoming one of a general shortage of choice. In short, there is a healthy supply of buyers, but nowhere near enough supply to satisfy demand. The inevitable result is that ‘in demand’ property is selling at a premium, as property prices in West Bridgford testify. Whilst the shortage of choice isn’t good news for buyers, it can be great news for sellers, particularly downsizers or ones that are flexible about their next move with prices only spiking in certain parts of the city.

Property Presentation is Key to Finding the Right Buyer   

An interesting shift in today’s market compared to pre-recession is the change in the importance of presentation, no matter what level you are pitching at. With mortgage criteria being tougher, most lenders demanding a fee, and many buyers finances being stretched, finding a purchaser for a property in need of refurbishment is becoming a tough ask. In fact, in many cases buyers nowadays are looking for property where they can bring their belongings and their toothbrush and have their feet up in front of Strictly by Saturday evening. Property in Sherwood & Carrington is selling well, however, if you look at Rightmove or On The Market, you’ll find that the homes that are incorrectly priced or poorly presented are the ones that have been on the market the longest.

Rental Prices Increasingly Slightly and Tenants Staying Longer 

In many ways the rental market is mirroring the sales market with fewer people moving than in recent history and sought after property being snapped-up. Seasonality has again this year become more pronounced with lower prices being achieved in the quieter months, and less popular properties taking longer to let. Rents have crept up a little, but the increases are nowhere near those being achieved in the south east. On the whole, the picture is very steady and it is encouraging to see new landlords entering the market - in many cases filling the shoes of accidental landlords that are exiting. It remains to be seen whether the changes announced in the budget will have a big impact.

Mortgage Rates on the Rise?

Today’s decision by the Bank of England came as a surprise to many who were predicting an increase. There is widespread opinion however that rates are going to go up imminently which will undoubtedly have a cooling effect on the market. Research from Money Supermarket suggests that lenders are already starting to increase their Fixed Rate mortgages in readiness for an increase, so buyers need to budget accordingly. There are currently more mortgage products available than there have been for many years, and in many parts of Nottingham prices are still depressed, so this could well be an excellent time to buy.
If you’re thinking of buying, or selling a home in Carrington, Sherwood, or Mapperley Park drop in and see us to discuss your next move. We’d love to help.

Granger & Oaks sell, let & manage property across Nottinghamshire. The company is independent & in 2013 celebrated it's 10 year anniversary. We are licensed by ARLA & the NAEA, and offer a high quality service that is competitively priced.

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Testimonials

  • Mark Thompson - Landlord & Vendor - May 2018

    Excellent - We cannot fault the service they have provided us.This review is for both Landlord services as well as Estate Agents.Granger and Oaks have provided us with an READ MORE

  • Martin Holtom - Tenant - June 2020

    Excellent service, nothing is too large or too small to help with. Only an email or phone call away come flood or Honey Bee nest. Friendly and helpful. Thoroughly READ MORE

  • James Steeley - Vendor - June 2019

    Excellent and courteous service for my house sale, from start to READ MORE

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