Posted on March 27, 2023 March 28, 2023

Trellows Property Market Update March 2023

An overview of the UK residential property market

Summary

This month saw the 11th interest rise in 15 months, taking the base rate from 0.1% in December 2021, to 4.25% a rise of 4,250%. The current rate may not be high by historical standards and still remains lower than the median average, but following 15 years of historical lows, that have resulted in much higher borrowing overall, the effects of the increase have had an enormous effect on borrowers, as the larger average mortgage has amplified the effects of the increase, but how does this affect the market overall?

Background

This month, the UK base rate has risen to its highest level since 2008. There are many contributing factors to the need for the base rate to rise, although it was inevitable that the base rate has been at a historical low since the last financial crisis and therefore, it was only a matter of time.

In real terms, the current rate of 4.25% is having a greater impact on borrowers that it would have done in the past, due to the higher earning to borrowing ratio, as the value of mortgages has risen exponentially.

With inflation for 2022 ending at over 10% (although it much higher in real terms) and although it was predicted to fall this year, the latest figures for March, confirmed that contrary to falling, inflation had risen to 10.4% which signalled the latest rate rise.

The true impact of higher borrowing costs along with the general slow-down of the property market has not made its way to the public forum yet, as there is long time lag between agreed sales and published figures.

The sales that are completing now, are still for the main part, sales that were agreed before the disastrous mini-budget, that rocked the money markets, it then takes upwards of three months from the point of completion before figures are published on the land registry website.

The figures that we do have, indicate that on average, property is already at or below the figure it was at he beginning of 2022, with further falls on the horizon.

However, if we then factor in an anticipated compound inflation rate for 2022-2023 by the end of this year, that is on course to be in excess of 20%, then we can see that in real terms, property need only fall by 10% which is being accepted to be a minimum, by most of the industry pundits, whether they admit it openly or not, for house prices to end the year 30% lower than they were at the start of 2022.

In addition to this, there has already been a fall in wages(adjusted for inflation) of around 5% minimum, with the possibility of a further 5% fall by the end of this year, which has seriously effected affordability.

The inevitable fall in prices, is not by any means anything to be alarmed about, the combination of affordability, due to inflation and lower wages (when adjusted for inflation) in addition to all the other factors within the UK economy, but should we be alarmed by this and expect a property meltdown?

The short answer is no, there is always a correction in property prices at some point in the cycle and this is simply that time now. The impact of exiting lockdown, rocketing energy costs and an over-heated market, thanks to the stamp duty holiday have contributed to the ‘perfect storm’ which should not come as any surprise to any of us.

London property market snapshot

Interest Rates 2020-2023

Average house price change since 2007

Completed house sales 2015-2022

The average house price change since January 2023 is even steeper than the fall in 2008.

As we can see, July 2022, was clearly the peak of the current cycle, with completions falling to their lowest level since 2008 (with the exception of the lockdown)

Additional contributing factors

The Renter’s Reform Bill’ is expected to get through parliament in the next few months, which will transform the rental market significantly. This on top of the Section 24 income tax act, has contributed to an exodus of buy-to-let landlords from the market. Although there is an increasing entry in the buy-to-let market by the corporations, (15% of property sales in 2022, were to institutional investors) with Lloyds Bank declaring that it intends to be the UKs largest landlord by 2025 and even Tesco making an entry in the ‘Build-to-Rent’ market, these institutional investors are not likely to be taking up the properties off-loaded by exiting buy-to-let landlords.

On top of this, there is the anticipated raising of the minimum EPC rating for rental properties, from the current ‘E’ to a ‘C’ in 2025, although this has yet to be confirmed. This has certainly added fuel to the fire, with over 60% of rental properties in the UK being rated ‘D’ or lower, the cost to landlords could be prohibitive.

In addition to this, yet more bad news for landlords, has been the recent increase in the ‘stress-test’ by most buy-to-let lenders. When this was introduced, it was set at 125% of the rental income, that is to say, that the rent needed to be at least 125% of the prevailing interest payments. However, many lenders have increased the rate to as much as 141% in recent months, which added to significantly higher rates, many landlords are failing the stress tests and therefore unable to re-fix with a better deal, leaving them exposed to BTL variable rates, which are as high as 9%.

All this factors combined have spelt disaster for the thousands of individual BTL landlords.

Conclusion

Whilst the current situation may seem to be the recipe for Armageddon in the property market, there are also many reasons why the market will not grind to a halt.

First Time buyers:

There is without doubt a growing number of first time buyers, who should be very careful about buying at this time with a small deposit of course, as they risk finding themselves in negative equity for the next few years, but as the slide in prices begins to ease, there will be a tipping point, where those who can, will begin to enter the market..

Next Time Buyers:

Regardless of the situation in the property market, this need not be an obstacle to those who need to move and for those moving upwards, there could even be a benefit. The key here is to ensure that you are using a good estate agent, who is not only going to be realistic about the property market, but one who will also work hard to ensure that your property is noticed amongst the increasingly growing number of properties coming to market.

Albeit in lower numbers, properties are still selling, but it is only those that are priced realistically that are finding buyers. The key for next-time-buyers is that although they may need to take an offer lower than they had hoped for, that drop can/should also be reflected (in percentage terms) on the property that they are buying.

If you want or need to sell, in the current climate, the worst thing that sellers could do, is to go on the market too high, the longer that their property is on the market, the lower the final selling price will be.

Investors

There is a large number of investors, already looking for a bargain, but far more who are waiting for the fall to level off, before they begin to enter the market, therefore many of the properties that are either on the market, or due to come to market this year, will find buyers, albeit at a lower price, which will cushion the fall.

Demographics

The ownership of property has changed significantly over the last two or three decades, with an increase in numbers who are either renting, or mortgage free. Those who need to rent, will continue to do so, regardless of the rising rents, even if many do decide to resume living at home, the demand for rental properties continues to out-strip supply.

These two factors combined, result in the effects of higher interest rates impacting a smaller percentage of households in the UK, therefore the likely hood of the housing crisis of the early 90s, where thousands of homeowners were handing back their keys, very unlikely.

Posted on July 21, 2022

A tour of one of the most expensive houses on the market in Northampton

A beautiful home in backing on to open countryside

Beautiful Home: Rear view

Beautiful Home: Front view

Beautiful Home: Rear

Beautiful Home: Entrance hall

Beautiful Home: Kitchen

Beautiful Home: Lounge

Beautiful Home: Dining room

Beautiful Home: Bathroom

Beautiful Home: Bedroom with Velux window

Beautiful Home: Bedroom

Beautiful Home: Stunning garden with open views

Full description

BEAUTIFULLY POSITIONED PROPERTY STANDING IN GLORIOUS GARDENS AND GROUNDS OF 0.94 ACRES WITH FABULOUS VIEWS TOWARDS HARLESTONE FIRS IN THIS MOST SOUGHT-AFTER RESIDENTIAL ADDRESS

Bramhills occupies an attractive position in this most sought after location with glorious gardens and grounds extending to around 0.94 acres enjoying a westerly aspect adjoining fields with fabulous views over towards Harlestone Firs. It offers a unique opportunity for an individual to remodel or replace the existing property in arguably one of the sought-after and desirable villages in Northamptonshire.

The property is approached through a main door into the hall, having a solid oak staircase rising and turning to the first floor landing with cupboard below and original solid oak flooring. Off the hallway is the cloakroom with separate WC. The sitting room is of a dual aspect with an open brick fireplace, set in a tiled brick hearth with wooden mantel above, door to the rear garden terrace and original solid oak flooring. Access from here leads to the dining room with walk-in bay window to the rear aspect enjoying views of the garden, solid oak flooring and open access leading to the kitchen/breakfast room.

The kitchen/breakfast room comprises a generous range of fitted base and eye level units incorporating display shelving with recessed lighting, generous worktop areas with inset sink unit with feature electric four ring Aga with double oven and electric companion to side. Further features include recessed lighting to ceiling, bamboo flooring and windows to the front and rear aspect. A door from here leads to the inner lobby with a secondary entrance to the front and a further door that leads to the study/bedroom with double doors affording access to the paved terrace and garden beyond and access to its own en-suite wet room. Off the inner lobby is the useful utility room which is fitted with a range of base and eye level cupboards with door to the rear gardens and connecting door to the garage.

On the first floor there is a spacious landing with stairs rising to the second floor with storage cupboard. The main bedroom has windows to the rear aspect affording attractive views over formal gardens and countryside beyond with further window to the side aspect and a range of built-in wardrobes and access to the refitted en-suite bathroom. A generous second bedroom with a range of built-in wardrobes, again with a window to the rear aspect enjoying the views across the countryside with access to its own en-suite shower room. There is a further double bedroom with dressing area and a family bathroom.

On the second floor is a small landing area with access to two double bedrooms, both with Velux skylight windows, one of which has its own cloakroom with access to eaves storage areas.

OUTSIDE

Bramhills is approached by a gravelled in and out driveway with lawned areas, flower and shrub borders and maturing trees and outside lighting. Access to the rear garden is through a five bar side gate and there is hard standing next to a double attached garage having light and power with electric roller doors.

The whole plot extends to 0.94 acres and is attractively landscaped with the formal gardens largely laid to lawn with flower and shrub borders, retained by hedges and conifers with an attractive fixed pergola structure in the centre of the garden perfect for those BBQ’s on a sunny lazy afternoon. There is a large kitchen garden along with small orchard to the side having apple specimens and a number of outbuildings including a greenhouse. The well established and landscaped gardens are an attractive feature to the property adjoining fields having a south westerly aspect with views over to Harlestone Firs.

PROPERTY INFORMATION

Services: Mains gas, electricity and metered water are connected. Boiler is gas fired served by a Megaflow hot water storage system.

Local Authority: West Northamptonshire Council
Tel.

Outgoings: Council Tax Band “G”
£3,352.70 for the year 2022/2023

EPC Rating: E

Tenure: Freehold

Offers in excess of £1,800,000

Posted on June 3, 2022

Property to crash in 2022?

HOUSE PRICES have hit dizzying highs despite the UK’s crumbling economy and many now expect a full-blown crash this year. Yet a house price crash may be averted for a surprising reason.

As the cost-of-living crisis intensifies the doom-mongers are shouting about the dangers of a property crash again. Yet there are good reasons why that may not happen despite today’s growing uncertainties.

There are good reasons to be worried about the property market right now.

The average homeowner with a £224,000 mortgage is paying £1,000 a year more interest a year as result of the BOE hiking rates from 0.1 percent in December to one percent today.

Base rates are set to climb higher and many homeowners will struggle as every other household cost soars at the same time.

Banks and building societies are already marking down properties during mortgage surveys, knocking £20,000 or £30,000 off the valuation to protect themselves.

That makes it harder for borrowers to raise the money they need, forcing some to pull out of their purchase. Property chains could collapse as a result.

It’s undoubtedly a dangerous time for the housing market.

This had led to growing caution among buyers, sellers and lenders, according to the Royal Institute of Chartered Surveyors.

Estate agents report having to do a lot more legwork for sales, as prospective buyers take their time, Hargreaves Lansdown’s senior personal finance analyst Sarah Coles said.

Sources report that buyers are finding it harder to get mortgages, as lenders tighten affordability criteria. “This is causing some chains to fall apart, as many banks don’t think properties are worth their asking price,”

By every rational measure, today’s dizzying house prices should crash back to earth. The average property now costs an incredible 9.1 times the average salary in England, way above the long-term figure of four or five times.

First time buyers are struggling to build big enough deposits. Seven in 10 have now put their plans on hold for at least two years, Nationwide reports.

So why won’t prices crash?

One reason is that buyer demand is still strong, while the supply of property is weak.

House prices jumped an incredible 10.8 percent in the last year, which includes a rise of 1.1 percent in April alone, adding £3,078 to the average home.

This has lifted the average property price to another new record high of £286,079, and Halifax managing director Russell Galley said activity shows “little sign of abating” amid strong buyer competition.

Demand continues to outpace supply due to the “insufficient number of new properties coming onto the market”.

Galley anticipates the rate of house price growth will slow, but only by the end of this year. He does not foresee a crash.

Another reason the market won’t crash is that owners are taking action to protect themselves from mortgage hikes, said Joshua Elash, director of property lender MT Finance. “They are increasingly locking into longer term fixed rates, in expectation of further rate rises.”

Also, mortgages remain dirt-cheap by historical standards. It is still possible to get a five-year fixed rate charging just 2.5 percent. When property prices crashed 20 percent between 1989 and 1993, mortgage rates hit a staggering 15 percent.

That would trigger the mother of all meltdowns today, but that isn’t going to happen.

Here’s the most unexpected reason why prices won’t crash.

If the UK is heading into recession, the Bank of England is likely to scale back its base rate hikes, said Rupert Thompson, investment strategist at Kingswood.

As a result, base rates may only climb to just 1.5 percent or two percent, still low by most standards.

This would keep mortgages affordable, and head off any crash. Incredibly, this means a recession could actually ride to the property market’s rescue. Few will have seen that coming.

There is also the fact that only around one third of properties in the UK are occupied by mortgage payers, the other third are owned outright with the remainder being rented. Of the third that pays a mortgage, many are on fixed term deals, with a few having fixed deals for five or ten years. The immediate effect will probably only be felt in the next year or two, until the rises in energy this year, which account for about 75% of the inflation figure, taper off.

There is a great possibility that interest rates will rise to as much as 2.5% by next year, though nothing is certain, then they will peak and gradually come down. The fact that there are some great long term fixed rates, indicates that those in the know, are confident that the rise in rates is only temporary, hence the reason they are offering to lock in good rates (for them) for a long time.

Another factor that differentiates the current climates from the pas, is the supply of money. Since the crash of 2008, banks have not only been super careful with lending, but the gap, between the base rate and the variable mortgage rate has been higher than ever.

Previously, the gap was around 1% at the most, but for much of the last 14 years, the base rate has been around 0.5% but the variable rate has been as much as 5%, which is a mark up of 1,000% and since the pandemic, when the base rate was lowered to 0.1%, some lenders were still charging a variable rate of 5%, that is a mark up of 5,000%! So as you may gather, the banks are awash with money and the availability of funding, will invariably keep the market safe.

It seems like the doom-mongers may have to wait a little longer for the big crash.

Posted on April 26, 2022

A step-by-step guide to selling your home in Northampton

A step-by-step guide to selling a home in Northampton

You’re ready to make the leap to somewhere new. So how do you get started with the whole selling process and how long does it all take?

Key points

Find out how much your home is worth and start prepping for viewings with a good deep-clean and de-clutter
Choose the right estate agent for you and find a good solicitor early on in the process, so they can get cracking as soon as you go under offer
Selling a home takes around 25 weeks, from the moment it’s first listed until completion
How much it all costs will depend upon the value of your property, as estate agent fees work out as a percentage of your sale price

1. How can I get started with my sale?

The first thing you’ll want to know before putting your home on the market is how much it’s worth.

At Northamptonshire Luxury Homes, we can tell you that in an instant. Our valuations are based on powerful market data and even shows you your home’s sales history.

We can also let you know what similar properties in your area have sold for, to give you a good idea of market rates. Because knowledge is king.

But nothing beats having an estate agent come to your home to have a proper look around for an accurate property valuation.

They’ll be able to see all the work you’ve done to your place while you lived there – and calculate how much value it’s added to your property.

They’ll also be able to take in how well looked-after it is, learn about its best features and then highlight them to potential buyers.

Book a free valuation Get in touch.

2. Get your home ready for sale

A major declutter and a deep clean will have a powerful impact when it comes to preparing your home for sale.

Don your Marigolds and look forensically at your home. Try to see the ingrained grime you might have stopped noticing.

If it’s really bad and won’t wipe off, consider a new lick of paint.

If your home is feeling a bit too full and busy, take out a temporary storage unit.

Any spare bikes that normally live in the hallway, kids toys or piles of winter coats must be banished throughout viewings time.

Light, airy and spacious is the look buyers are after.

And gardens are a big draw right now. Mow the lawn and weed the flowerbeds and you’ll be onto a winner.

3. Decide how you want to sell your house

When looking for an agent, you’ll want someone who can see all the best things about your home, just like you can.

You’ll also want someone with plenty of experience when it comes to marketing properties like yours.

Local agents can really help to sell a home because they’ll know an area inside out and can highlight all of its best bits to potential buyers.

Book a free valuation Get in touch.

4. When should I put my home on the market?

Springtime is the best time for marketing your home.

Between February and June, the housing market bursts into action as buyers start looking for somewhere new.

The next best time is autumn, between September and October, as people hope to get settled into a new place in time before Christmas.

The quietest times of the year for the housing market are in the summer, from July to August, when everyone’s holiday, or just before Christmas, from November to December.

If you put your home up for sale in a quieter time, it could mean it hangs around for a while.

That in turn may mean buyers might think there’s something wrong with it, so it’s good to aim for a time when lots of buyers are looking for somewhere new.

5. How long does it take to sell a house?

Once you’re on the market, the first few weeks are the most crucial time for your home to go under offer.

‘That first four to six weeks of marketing a property is so important.

‘You are fresh on the market and it’s your best moment to capture the maximum number of eyeballs.’

The whole process of selling a home, from the moment it’s first listed to the moment you hand over the keys to your buyer takes around 25 weeks on average.

However, selling a home is dependent on many factors and the process can take anything between 17 and 34 weeks in total.

Find out more Get in touch.

6. How much does it cost to sell a house?

Coming in at between 1% to 3% of your home’s sold price, estate agent fees will be the biggest cost you incur when selling a home. The key here, is not to opt for the cheapest agent, they are under pressure to complete sales as quickly as possible and cannot devote the time needed to get the best price. Even so, we are not suggesting you instruct the most expensive agents, but a good agent will probably cost you less, because they will work harder to get the a higher final selling price.

Next up it will be your conveyancing fees (£800 – £1,800)
Then your removal costs (£420 – £1,800)
Your remortgaging fees (£1,000+)
And finally the costs for any paperwork expenses, such as the Energy Performance Certificate (£60 – £120)

Book a free valuation Get in touch.

7. What documents do you need in place to sell a house?

When selling a home, you’ll need to have the following documents available:

An Energy Performance Certificate. A legal requirement for sellers since 2008, an EPC will tell buyers how well your home uses energy
FENSA certificates for windows and doors
A Boiler Safety Certificate
Gas Safety Certificate
Electrical Installation Certificate
Planning approval for any major works

Your solicitor will also ask you to fill out further forms about the property itself and what you’re planning to include from it in the sale, such as curtains and appliances.

Find out more Get in touch.

8. What if I’m selling and buying at the same time?

If you’re looking to buy a new home at the same time as selling yours, the best thing you can do is to get all of your professionals lined up early.

Have a solicitor or conveyancer in place who’s ready to get cracking the moment you go under offer.

And make sure you have all of the relevant documents and paperwork ready for your solicitor in advance.

Delays in the conveyancing process are one of the biggest hold-ups in the buying-and-selling-a-home experience.

You’ll want an efficient, on-the-ball professional and you’ll need to respond to all queries from your buyer’s solicitor pronto, so that everything moves along smoothly.

How to buy and sell a home at the same time

9. How do I sell a Shared Ownership, Help to Buy or Leasehold home?

The rules around selling Shared Ownership, Help to Buy or leasehold homes are slightly different.

Topics you may wish to research:

How do you sell a Shared Ownership home?
How to sell a Help to Buy property
How do you sell a leasehold property?

Also, if you’re selling a home in Scotland, the process works in a different way to in England and Wales.

How is selling a home different in Scotland?

10. Different reasons for selling a home

Sometimes the reasons for selling a home aren’t always straightforward.

If you’re selling a home because you’re separating from your partner, you may be wondering what your rights are – and if they differ according to whether you were married, co-habiting or have children.

We explain how the law works in our guide: What happens to our home if we break-up?

If you’ve lost your partner and there’s still a mortgage on your home, we explain what happens next in our guide: What happens to our home if my partner dies?

You may be thinking about giving your property to your children. So let’s take a look at how inheritance tax works in that situation.

11. You’re under offer! So how do you manage your chain?

Once the joy of going under offer subsides, you may find yourself in the dreaded property chain.

This is the part when the surveys start happening and the solicitors get busy with all of the relevant searches they need to conduct on your property.

This phase can take anything between several weeks to several months, depending on the complexity of the chain and the properties involved.

Here’s how to push yours along and keep everything moving.

12. Let’s get moving!

You’ve exchanged and the deal is sealed! It’s time to organise the removals.

Are you going to go for the full shebang packing-and-unpacking removal service?

Or is this going to be a DIY job with mates?

The cheapest way to move home is to hire a van and do it yourself.

This may be manageable if you’re a young professional living in a studio or one bedroom flat, less so if you have five kids and 30 years worth of stuff.

If you’re planning to use a firm, removal costs can vary from between £420 for a one-bedroom flat to £1800 for a four-bedroom house.

If you have any questions or if you would like advice on selling or finding you dream home, Get in touch.

Posted on April 21, 2022

Bright Ideas for Awkward Attic Spaces in Northampton

Attic spaces can do so much more than store holiday decorations and sports equipment. They often have low, sloped ceilings that are tailor made for cosy, private environments. We take a look at how clever designers and homeowners made use of their attic’s full potential, from guest bedrooms to home offices.

The first step is to get all the structural work out of the way, most loft floors will need reinforcing to take the added weight of additional flooring and furniture. Get professional advice, if this is not done properly, you could face serious problems further down the line.

Beautiful roof windows with wardrobes thoughtfully fitted to take advantage of the space.

Do you have a musician in the house? If so, this could be for you, perhaps with suitable soundproofing?

With more and more people working from home, even for two or three days a week, a loft could make a bright and peaceful office.

This loft was converted in to a very tasteful bathroom.

This loft was converted to take advantage of the layout, with windows to the side, making a very comfy additional family room.

An additional guest room with en-suite or somewhere for growing teenagers to have their own space.

A feature wall and three roof windows really set this spacious room off.

The wooden floor with boards running lengthways from the window, puts the natural light to best use.

This conversion has taken advantage of all the space to maximise storage and light.

The wooden floor is complemented by the Pine furniture.

This loft has been converted in to a very tasteful self contained apartment, with Wooden floor and exposed Brick walls which adds character.

With natural light from three sides, this large bedroom, finished in light natural shades has a wonderful feeling of space.

The exposed beams set against the white timber creates a very tasteful additional family room.

Things to consider

If your home has a modern Trussed roof, that does not mean that you cannot convert your loft, but it will be more expensive, as you will need to replace the entire roof, to one that is engineered to allow for the open space within.

Always check with planning first and do not proceed with any work until you have consulted with a professional.

Windows looking out on to other property will probably be refused by your local planning authority and your neighbours would not appreciate it either.

Weigh up the cost of moving, as compared to adding space with a loft conversion. Although the cost could be put towards a larger home, depending at your relevant price point, the stamp duty alone could contribute to some, or even all of the cost of moving.

Contact a reputable Estate Agent, to get an opinion on ‘GDV’ or ‘Gross Development Value’ once your project is completed. Once again, factor in the cost of moving, so even without all the costs being covered by the additional value added to your property, you could still be financially better off converting a loft, instead of moving home.

Posted on April 21, 2022

Aldwincle Northamptonshire in Focus

A haven of tranquillity in East Northamptonshire

Aldwincle (sometimes Aldwinkle or Aldwinckle) is a village and civil parish in North Northamptonshire, with a population at the time of the 2011 census of 322. It stands by a bend in the River Nene, 4 miles (6.4 km) to the north of Thrapston. The name of the village means “Ealda’s nook”. Aldwincle has a mixed population of 350, with a high proportion of retired people. Those in employment mainly commute to towns such as Peterborough and Kettering, or further afield to Cambridge, London or Birmingham. There are a number of small home-based businesses, a garage and a village shop, as well as a couple of farms.

There is a highly regarded voluntary aided primary school in the parish, Trinity CE Lower School which is now part of the 2 tier system which was in place for September 2016. The school now caters for Reception to Year 6, with a current roll of about 150 pupils.

Aldwincle Village Hall has been extensively refurbished, including a catering standard kitchen. It has good resources for village events and is available for private hire.

The parish church, dedicated to St Peter, is an attractive and well-maintained building. There are two Sunday services each month, one of them being a Family Service. There is a Baptist chapel and also a second Anglican church building (dedicated to All Saints and shown above), though this was declared redundant several years ago, and is in the care of the Churches’ Conservation Trust. This was one of the first churches to introduce “champing”, and has proved popular with walkers and canoists using the nearby River Nene. The original village rectory was the birthplace of the poet, John Dryden.

All Saints Church Aldwincle Northamptonshire in Focus

Aldwincle Northamptonshire in Focus

History of Aldwincle

The parish, covering nearly 1120 hectares, consists of an irregular triangle of land, extending N.W. of the R. Nene at 100 ft. above OD, over a broad and generally flat interfluve some 260 ft. to 290 ft. above OD and then down the S. side of the Lyveden valley, here 200 ft. above OD. Except around the village, which lies on river gravel, the greater part of the parish is on either Boulder or Oxford Clays. There are still extensive woodlands on the higher parts.

¶The parish is noteworthy for the large number of Prehistoric and Roman sites found in it; this has been the result of chance discovery rather than the presence of those physical features which were especially attractive to settlement. The major complex at Henslow Meadow in the S. of the parish was uncovered by recent gravel-workings, and detailed excavation by D. A. Jackson for the Department of the Environment has enabled a long sequence of sites to be recorded. These include the Neolithic mortuary enclosure (1), and a number of barrows and ring ditches (2–7). An Iron Age settlement, Roman settlements, a pit alignment and a Roman bridge (8–11) have also been discovered. Another major Roman settlement and some undated enclosures (12–17) elsewhere in the parish have been discovered by fieldwork and air photography.

In the extreme N. of the parish two medieval moated sites (19) and (20) are part of the extensive remains of now-abandoned medieval settlement in the Lyveden valley (see p. xxxix and Fig. 12), which may have been organized economically on an extra-parochial basis.

Read the full history of Aldwincle HERE

Posted on April 21, 2022

Central London Market Update April 2022

The state of the market in Central West London

The average property price in West London postcode area is £1.1M. The average price declined by £-190.1k (-14%) over the last twelve months. The price of an established property is £1.2M. The price of a newly built property is £702k. There were 5.5k property sales and sales increased by 9.2% (497 transactions). Most properties were sold in the over £1M price range with 1650 (30.0%) properties sold, followed by £500k-£750k price range with 1348 (24.5%) properties sold.

West London postcode area	England and Wales
£1.1M	£342k
average property price	average property price
-14%	5%
average price percentage change	average price percentage change
£-190.1k	£15.8k
average price change	average price change

London house prices ‘overvalued by up to 50%’

Official data for January reveals the average price fell by 1.8% to £510,102

London’s property market is “overvalued” by as much as 50% and this has raised fears of a “looming correction”, The Telegraph reported.

S&P Global Ratings, an American credit rating agency, told the paper that “a combination of low rates, the stamp duty holiday and excess savings amid the pandemic have driven property prices higher, particularly in London and the South East”. Researcher Alastair Bigley warned that prices were likely to fall. “We expect a greater correction in property prices in an overvalued market,” he said. Meanwhile, outside London, S&P estimated that property was overvalued by 20%.

According to the latest house price index issued by property website Rightmove, the average home in London now costs £664,400. And the average time it takes to sell a home in the capital dropped from 68 days to 57 days in February – “another sign activity is picking up”, said the London Evening Standard.

Rightmove’s data also revealed that the UK house price average is now £354,564 – the first time it has exceeded £350,000.

Property prices fell by 1.8% in January

The average property value in London was £510,102 in January 2022 – down 1.8% from December 2021, according to official data published by the HM Land Registry and the Office for National Statistics (ONS).

Regional data from the house price index revealed that London saw the lowest annual price growth, an increase of 2.2%, and the 1.8% dip was the most significant monthly price fall.

The London property market is one of the most robust markets in the world. The market is still being affected by a combination of factors that will take a long time to balance out.

Firstly there was Brexit, which resulted in less demand for housing in the capital, as many companies and workers either put their plans on pause, pending a clearer picture of how leaving the EU will change things, then there was the lockdown, a once in a lifetime event that came out of nowhere, forcing companies to switch to a work from home policy that changed the demographics significantly and with many workers still not travelling in to work, the city is still not back to normal.

Another consequence of the lockdown, was the number of EU workers who decided to leave, figures suggest that this may have been up to one million in London alone. This was then followed by constant uncertainly about the pandemic and to top it all, February the 24th saw the invasion of Ukraine by Russia, which has resulted in a significant fall in investment from the Russian market as sanctions were imposed. This happening at the same time as high inflation caused by the bounce-back along with the first interest rises in a long time, as the markets deal with massive price rises, due to delays in the supply of materials around the world, post-pandemic.

Despite all these factors, which are referred to as the ‘perfect storm’ London is still holding up relatively well and there will no doubt be a striking point where investors will begin to enter the market in larger numbers, placing their money in to one of the safest markets in the world.

Posted on April 20, 2022

Lyveden New Bield Lyveden Northamptonshire in focus

Elizabethan lodge & moated garden

Tucked away in the heart of the Northamptonshire countryside lies a mysterious house and garden, a remarkable example of Renaissance design and craftsmanship. Begun by Sir Thomas Tresham in 1595 but never completed, Lyveden is a wonderful survivor of the Elizabethan age and a rare example of late Tudor landscape design. There are tranquil moats, viewing terraces and an Elizabethan orchard to explore, as well as an enigmatic garden lodge covered in religious symbols. Sir Thomas intended his garden and lodge to symbolise his devotion to the Catholic faith, but the full extent of Sir Thomas’s symbolic design remains unexplained to this day.

One man’s creative impulse born of social and political upheaval, religious persecution, and personal faith will be revealed through a programme of restoration, recreation and reinterpretation. With new facilities at Lyveden Manor, visitors will be able to delve deeper into how and why Sir Thomas Tresham created the garden and lodge at Lyveden, and to explore the relevance of his story to our modern world.

Lyveden is a poignant and dramatic example of one man standing up for his beliefs in dangerous times, through an act of quiet and creative rebellion.

Tresham’s story is one of a private, yet public, expression of his own vision of identiry, belief and commitment, and how one man showed resistance in the face of persecution. His experience demonstrates how one man showed resistance in the face of persecution. As a Catholic in Protestant England, Tresham found his loyalty and status as a member of the English gentry called into question. The hardening of Elizabeth’s stance towards religious conformity in the 1580s as the threat of Catholic invasion increased at home and abroad imposed legal restrictions on the practise of Catholicism in England. In the 1580s, Tresham made the decision to assert his faith and religious identity and, as a result, found himself subject to legal questioning, imprisonment and heavy fines.

During his time under house arrest, and imprisonment, Thomas Tresham came up with the designs for Lyveden; a journey of discovery and a contemplative walk from his manor house hidden at the bottom of the hill up through an elaborately designed water garden to the garden lodge above.

Lyveden New Bield Lyveden Northamptonshire in focus

Lyveden is one of the most important, unspoilt and unique Elizabethan gardens in England. Sir Thomas Tresham designed and constructed Lyveden as a testament to his Catholic faith. Every element of Lyveden is designed to symbolically convey Tresham’s own spiritual journey as he struggled to reconcile his faith with the changing Elizabethan world. It’s a deeply personal story centred on Tresham’s individual belief, but it would also have been shared with others who suffered similarly, shared his thinking, and understood the meaning of the symbols.

Lyveden New Bield Lyveden Northamptonshire in focus Clouds

Lyveden not only represents one man’s individual response to the world changing around him, but also a shared human response to change. The peace and tranquillity of this carefully, crafted landscape provides an opportunity for visitors to delve deeper into the mental world of Tresham, to explore the broader historical context of Lyveden, and to find resonance with their own modern lives.

Lyveden New Bield Lyveden Northamptonshire in focus Aerial

Posted on April 11, 2022

Brixworth Northamptonshire in Focus

A quick look at Brixworth

Portrait of a village

Brixworth is a large village, about 5 miles north of Northampton. It has a population of around 5,000 people and is surrounded by beautiful rolling countryside and located next to Pitsford Reservoir, (built in 1956) which is a beautiful place for families, walks and cycling.

The place-name ‘Brixworth’ is first attested in the Domesday Book of 1086, where it appears as Briclesworde. The name means ‘Beorhtel’s or Beorhthelm’s homestead or enclosure’.

A lengthy article about the history of the parish appears in the Victoria County History for Northamptonshire, volume 4, which was published in 1937. Its text can be consulted at British History Online.

The main road from Northampton to Market Harborough passed through the village, where a number of inns served the needs of travellers for refreshment, lodging and a change of horses. The buildings of two present-day pubs in the village date back to the era of horse-drawn transport:

“The George Inn”
“The Coach and Horses”

In 1819 Sir Charles Knightley purchased land between Spratton Road and Kennel Terrace, where the Pytchley Hunt then erected kennels, providing a fresh source of local employment at a time of agricultural depression. The Hunt remained in the village until 1966, after which the site was developed for housing.

All Saints’ church is one of the oldest, largest and most complete Anglo-Saxon churches in the country. It was founded circa 680 AD and was called “the finest Romanesque church north of the Alps” by Sir Alfred Clapham.

The Northampton and Market Harborough railway through the parish was opened in 1859, passing 0.5 miles (800 m) west of the village. British Railways closed Brixworth railway station to passenger traffic in 1960 and closed the line to freight traffic in 1981. The trackbed of the former railway was reopened in 1993 as the Brampton Valley Way.

From the 1960s onwards, a large amount of new housing has been built at Brixworth, mainly on fields to the south of the original village. A by-pass on the east side has diverted traffic travelling between Northampton and Market Harborough away from the built-up area.

The Historic England website contains details of a total of 17 listed buildings in the parish of Brixworth, all of which are Grade II apart from All Saints’ Church, which is Grade I.They include:

All Saints’ Church, Church Street
Brixworth War Memorial, All Saints’ Churchyard
Coach and Horses Inn, Harborough Road
Cross, Church Street
Home Farmhouse, Church Street
Mint Cottage, Church Street
Steps Cottage, Silver Street
The Firs, Saneco Lane
George Inn, Northampton Road
The Granary, Church Street
The Grange, Kennel Terrace
The Lodge, Northampton Road
Manor House, Harborough Road
Old Vicarage, Church Street
Pound House, Northampton Road

Posted on April 10, 2022

Cottages for sale in Northamptonshire

Some of the most beautiful character homes in the county

Cottages remain one of the most loved types of property in the UK. They represent the quintessential image of English life and despite the fact that they may not be the best performing Energy-Efficient homes, or that they frequently need more attention than newer homes, they are still many people’s ideal home.

Here we have a selection of stunning cottages, that are for sale in Northamptonshire today.

2 bed cottage Main Street Slipton, Kettering NN14

* Detached Thatched Period Cottage
* Sought – After Village Location
* No onward Chain
* Two Double Bedrooms, first floor bathroom
* Farmhouse Kitchen/ Dining Room
* Spacious Dual Aspect Reception Room with Inglenook fireplace
* Oversize Garage with Plumbing Shower W/c and utility area
* Oil-fired Central Heating Double Glazing
* Well presented and maintained property
* Freehold Tenure
* Potential Home office (above the garage)
* Potential for Annex conversion STPP
* High speed broadband available within the village (Gigaclear)
* Private and enclosed Cottage Garden to the rear and attractive front elevation lawn Garden
* Gated Driveway laid to gravel – accommodating multi-vehicular parking.

Key features of the property:
*Detached Stone Cottage* Village location * Annex Conversion Possibility (subject to planning permission)* Farmhouse Style Kitchen* Triple Aspect Windows*Two Double Bedrooms* Reception with Inglenook Fireplace* Private Gardens* Ample Drive Space* Garage/Workshop and Home Office potential* Delightful, Characterful Property. * Early Viewings Recommended. No Onward Chain.

Summary
A wonderfully impressive and characterful detached thatched cottage of stone construction circa 1800’s. This picturesque cottage is arranged over two floors offering two double bedrooms with full oil-fired central heating and full double glazing to the windows. In addition, this property retains many original features including inglenook fireplace and exposed ceiling beams. Natural light is enjoyed throughout with triple aspect windows to most of the rooms. A generously proportioned farmhouse styled kitchen/ dining room offers good quality solid wood wall and base units and Belfast sink, triple aspect windows to the gardens. The sitting room features a classic deep recess inglenook fireplace with lpg gas living flame styled wood burner, and windows to three elevations. To the first floor, a family bathroom and two double bedrooms the master benefits from double fitted wardrobes. A theme of character features throughout the property includes exposed beams to the ceilings, solid oak wood internal doors and delightful window seating.

Situated in the much sought-after village of Slipton, the property benefits from pretty corner plot location offering an attractive mainly lawn front garden, bounded by a dwarf stone wall with four bar gate leading to a sweeping gravel driveway. To the rear is a fully enclosed garden with split level patio and attractive timber summer house with power. Gravel infill adds practicality in all
weathers and raised decorative planting areas are arranged to add charm and colour to this pretty cottage garden. A secure personal gate provides access to the front elevation and garden. To the side of the property is a detached stone garage currently used as a workshop and utility room offers base kitchen units. A sink with window outlook and space and plumbing are provided for washing machine and dryer and to the rear, of the garage there’s a connecting w.c and shower room. A door leads to an office/store above via a fixed and fully enclosed staircase with plentiful natural light coming from the roof profile windows and a decorative portal window to the front elevation. To the rear of the garage is a useful timber tool shed.

The Accommodation
Upon entering Pepys cottage via the timber main entrance door, is a welcoming hallway with stone tiled flooring and a window to the rear elevation. A return leg staircase offers storage cupboard below. Connecting doors lead to the ground floor accommodation comprising: A cosy yet well-proportioned sitting room – with windows to front and rear and side aspects incorporating fixed window seating. Exposed beams to the ceiling compliment the Inglenook fire-place recess and feature wood burner style lpg gas fired stove. The kitchen is also accessed from the main entrance hallway, comprising several good quality solid wood wall and base cupboards and wall display units, recently updated range style cooker. Welsh dresser. Matching woodwork surfaces complete the theme a classic farmhouse style kitchen, A Belfast sink has a mixer tap over. There is ample space for a freestanding table and a large recess easily accommodates the recently updated range style cooker which is included in the sale. The kitchen benefits from excellent natural light from three windows to the surrounding gardens and additional down lighting to the ceiling. To the rear elevation a door leading to the patio and private garden. To the first floor, a small connecting landing is accessed via the central staircase. Doors lead to a family bathroom with a three -piece suite comprising bath with mains shower over and glass folding screen, low level w.c and wash hand basin. The bathroom has window seating.
Both double bedrooms feature triple aspect windows with window seating and the master bedroom features built-in wardrobes and cupboards over plus a further shelved airing cupboard. Bedroom two has access to the loft via a ceiling hatch with drop down ladder to a fully boarded loft space.

This home represents a rare opportunity to acquire an idyllic cottage in a corner plot village setting, being both fully detached with private gardens front and rear with the benefit of a detached garage/ outbuilding. The Timber Summer house to the rear garden is also included in the sale and external power points serve both front and rear aspect gardens. Pepys Cottage is presented in our opinion to high standard, therefore early viewing is highly recommended to avoid disappointment.

Find out more HERE

5 bed cottage Park Lane, Harpole, Northamptonshire NN7

Beautiful stone detached village home in peaceful location with good size landscaped gardens

This fine individual detached family home dates back to the 17th Century, constructed of Northamptonshire sandstone with modern sympathetic extensions and stands in beautifully landscaped gardens within a quiet back water of this popular village. Extending to 2,901 sq feet, the property has retained much of its character with strip pine internal doors and floors and a fabulous former barn that has been converted into a modern family room with contemporary features overlooking the gardens.

The entrance hall has a useful cloaks cupboard with a doorway into the fabulous fitted kitchen having a vaulted breakfast area with French doors leading to the gardens, underfloor heating and further access to an inner hall providing access to the other reception rooms. Off the kitchen is a useful utility room with an adjacent cloakroom and access to the gardens. The sitting room has a wood burning stove and timber floors as does the dining room with further access to the lovely sitting room having large picture windows and sliding doors overlooking the gardens with oak herringbone flooring and modern column radiators. From here there is a bedroom, store and full bathroom suite which all could be used as a possible self contained annex if required.

On the first floor, the main bedroom has an en suite bathroom with windows to the front and rear, three further bedrooms and a four family bathroom.

There are modern conveniences such as double glazed windows and gas radiator central heating with traditional wood burning stoves all of which makes this a very comfortable and adaptable family home.
Outside

A particular feature of this property are the landscaped gardens that extend to 0.3 acres having been subject to much imagination and improvement by the current vendors to include borders and maturing trees. With good size patios for entertaining, boundaries made up of stone walls and timber fencing, the whole area offers a good degree of privacy with a sunny southerly aspect.

Through electric double leaf timber gates is a large gravelled parking area enclosed by stone walling having steps up to the house and patio areas. There is a timber summerhouse and a useful timber garden shed.

Find out more HERE

4 bed cottage Vicarage Lane, Podington, Wellingborough NN29

A charming thatch and stone built detached cottage standing centrally in mature gardens on the edge of this sought after North Bedfordshire village. The house offers neutrally decorated and well-proportioned accommodation over two floors, the property offers oil fired radiator heating system, fitted kitchen with integrated cooking appliances and refitted bathroom and ensuite. The accommodation comprises, a large entrance hall leading to a guest WC, sitting room with inglenook style fireplace, dining room and kitchen/breakfast room. There is also a study/snug off the main sitting room. The first floor offers three large double bedrooms, one with ensuite shower room, a single bedroom and family bathroom. The gardens offer an alternative driveway access to the rear and possible modest building plot (STC)

Timber entrance door leading into the entrance hall.

Entrance Hall

Dog-leg staircase with exposed turned and stained bannister and spindles rising to the first floor landing, deep silled windows to dual aspects, radiator, cloak/storage cupboard, thermostat, wall-light points, panelled doors allowing access to the guest cloak/WC, kitchen/breakfast room, dining room and sitting room

Guest Cloaks/Wc

Fitted with a two piece suite in white with tiled splash areas, radiator, obscured window to the side.

Sitting Room (15’3 x 14’10 max (4.65m x 4.52m max))

Two deep silled windows incorporating window seat overlooking the garden and further window to the opposing side, radiator, feature inglenook fireplace with facility for open fire, canopy, exposed stone work and timber lintle above, TV point, wall-light points, radiator, exposed timber work, double opening panelled doors leading through to

Study/Snug (13’11 x 11’10 max (4.24m x 3.61m max))

Deep silled windows to three aspects overlooking the garden, radiator, feature corner stone fireplace with facility for open fire, wood mantle shelf above, wall-light points, feature timber work to ceiling.

Dining Room (14’8 x 12’2 max (4.47m x 3.71m max))

Window to dual aspects overlooking the garden, radiator, wall-light points, built-in storage cupboards

Kitchen/Breakfast Room (12’2 x 12′ max (3.71m x 3.66m max))

Fitted with a range of wood fronted base and eye-level units with roll edged work surfaces above, inset single bowl, double drainer stainless steel sink with mixer tap, ceramic hob, eye-level oven to the side, plumbing and space for dishwasher, integrated fridge/freezer, tiled splash areas, space for table, radiator, tiled floor, windows to two aspects and door leading to the rear porch and driveway.

First Floor Landing

On two levels with three windows, radiator, wall-light points, built-in storage cupboard.

Master Bedroom (14’2 x 9’10 max (4.32m x 3m max))

Window overlooking the garden, radiator, built-in storage cupboards, further panelled door allowing access to

Ensuite Shower Room.

Fitted with a three piece contemporary suite including low-level WC, vanity wash hand basin wit storage beneath and large walk-in shower cubicle with multi-jet shower fitting and glazed door, tiled splash areas, towel warmer, radiator, Velux style skylight, tiled floor.

Bedroom Two (15’3 x 13’2 max (4.65m x 4.01m max))

Deep silled window to rear, radiator, built-in storage cupboard.

Bedroom Three (16’3 x 12’2 max (4.95m x 3.71m max))

Window to front, radiator, built-in storage cupboard.

Bedroom Four (9’3 x 8′ max (2.82m x 2.44m max))

Window to the side, radiator.

Family Bathroom

Re-fitted with a white including bath with panel to the side, mixer tap and ‘Mira’ shower above, tiled splash areas, linen store, housing lagged hot water cylinder and further laundry cupboard with plumbing and space for washing machine, shelf and space for condensing tumble drier above, deep silled obscured window to the side.

Outside

The property is approached from the lane via driveway with timber five bar gates, the driveway is laid to a combination of tarmac and gravel. Access may be gained from the driveway via steps to the kitchen door and also to the attached garage.

Garage

Double opening timber doors, power and light connected.

Gardens

The gardens surround the property on all sides and are predominantly laid to lawn with a large number of mature trees. A more formal garden exists to what is traditionally thought to have been the main entrance door to the house with areas of paving, gravelled pathways and planted borders. Beyond the laurel hedge in front of this area of garden is a gated further strip of land to that leads up to a private driveway over which we are informed access rights exits for the property back to Vicarage Lane. This could form a new more formal entrance/driveway to the house allowing the orientation and approach to the house to be altered.

Find out more HERE

4 bed Cottage Barton Seagrave, Kettering NN15

The Workmans Cottage’ Situated in the desirable small village of Barton Seagrave is this beautifully presented semi detached thatched cottage, built in 1672, offering an impressive footprint of approximately 2426 square feet and equally impressive surroundings including conservation fields to the rear of the home. With many nearby amenities, great sized accommodation overall and four double bedrooms this property would be ideal as a family home. The original stone built property has been extended to the rear with a spacious conservatory that could function as a further reception room if desired. This stunning accommodation benefits from a spacious living room, dining room, family room, kitchen, conservatory, downstairs WC, four double bedrooms, a family bathroom, a double garage with a fully converted upstairs loft room, off road parking for up to four vehicles and a great sized rear garden with incredible views.

The desirable village of Barton Seagrave is located approximately 1.5 miles south-east of Kettering town centre and is within commutable distance of both Kettering and Corby town centres. Barton Seagrave offers a local post office, shops and a full range of schools as well as beautiful sightseeing opportunities including the Norman Church, Barton Hall and Wicksteed park being just a stones throw away.

Find our more HERE

This is just a small selection of stunning Cottages for sale in Northamptonshire, if you would like help finding your dream home, we are able to source property that is off-market and not visible on any portal. For further information, get in touch using the contact form below.

Trellows Property Market Update March 2023

An overview of the UK residential property market

Summary

Background

London property market snapshot

Interest Rates 2020-2023

Average house price change since 2007

Completed house sales 2015-2022

Additional contributing factors

Conclusion

First Time buyers:

Next Time Buyers:

Investors

Demographics

A tour of one of the most expensive houses on the market in Northampton

A beautiful home in backing on to open countryside

Full description

Property to crash in 2022?

So why won’t prices crash?

Here’s the most unexpected reason why prices won’t crash.

A step-by-step guide to selling a home in Northampton

You’re ready to make the leap to somewhere new. So how do you get started with the whole selling process and how long does it all take?

1. How can I get started with my sale?

2. Get your home ready for sale

3. Decide how you want to sell your house

4. When should I put my home on the market?

5. How long does it take to sell a house?

6. How much does it cost to sell a house?

7. What documents do you need in place to sell a house?

8. What if I’m selling and buying at the same time?

9. How do I sell a Shared Ownership, Help to Buy or Leasehold home?

10. Different reasons for selling a home

11. You’re under offer! So how do you manage your chain?

12. Let’s get moving!

Bright Ideas for Awkward Attic Spaces in Northampton

Aldwincle Northamptonshire in Focus

A haven of tranquillity in East Northamptonshire

History of Aldwincle

Central London Market Update April 2022

The state of the market in Central West London

London house prices ‘overvalued by up to 50%’

Property prices fell by 1.8% in January

Lyveden New Bield Lyveden Northamptonshire in focus

Elizabethan lodge & moated garden

Brixworth Northamptonshire in Focus

A quick look at Brixworth

Portrait of a village

Cottages for sale in Northamptonshire

Some of the most beautiful character homes in the county

2 bed cottage Main Street Slipton, Kettering NN14

5 bed cottage Park Lane, Harpole, Northamptonshire NN7

4 bed cottage Vicarage Lane, Podington, Wellingborough NN29

4 bed Cottage Barton Seagrave, Kettering NN15

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