As we reach the busiest season of the year for the housing market, recent data from Rightmove* reveals that home hunters and sellers alike are making the most out of the warmer weather, brighter evenings and the market heating up – which is reflected in last month’s house price growth.

Sellers are traditionally at an advantage to price their homes higher in spring and summer, as this time of year is the most competitive time on the market for buyers, allowing asking prices to rise while sales activity remains rampant.

Rightmove’s March House Price Index * analysed data on asking prices in England, Scotland and Wales to gauge the condition of the market this spring.

Across the UK last month, house prices rose by 0.8%, up to £365,357, just below the typical price rise of 1% at this time of year seen over the past two decades. * The slightly smaller growth could be a reflection on house sellers pricing carefully in the midst of the cost-of-living crisis – however – the seasonal growth suggests that we are heading towards a more settled market for the remainder of 2023 as prices continue to follow regular trends.

Good news for those hoping to move this year

According to Rightmove, buyer demand was up by 6% in March compared to the same period in the pre-pandemic housing market of 2019. *

Director of Property Science Innovation, Tim Bannister, says: “The beginning of the spring season sees a more settled market as it recovers from the turbulence at the end of 2022.”

And these positive signs may mean that those who put off moving home during the incredibly busy housing market of 2021, and part of 2022, are now ready to make a move.

“Higher mortgage rates and wider economic factors have raised challenges for some home-movers. Many faced bidding wars for homes during the past two years, but this slower-paced market now gives people time to plan and secure their next move as we enter the traditionally busy spring-buying season,” Tim adds. *

First-time buyers are returning

Following the fallout from September’s mini-budget and an unexpected spike in mortgage rates last year, first-time buyers understandably may have put their moving plans on a back burner amidst market uncertainty. Thankfully, as mortgage rates appear to have peaked in October and therefore started to gradually level out, sales agreed on first-time buyer homes have seen the most improvements of all property types when compared to sales in 2019.*

First-time buyers can place themselves in good stead for getting on the property ladder this year by checking the local market for prices that houses have recently sold for in order to budget accordingly. Those saving up for a deposit can also use a mortgage calculator tool to get a grasp on how just how much you will be able to borrow with a mortgage.

This way, you can obtain a Mortgage in Principle, which will place you ahead of competition when you’re ready to buy your first home.

Rightmove*

Need some help buying or selling your home?

Letting to students is one of the best ways to streamline a secondary source of income while also securing a stable long-term investment. There is no shortage of students in the UK, so it’s unsurprising that many landlords choose to market their property exclusively to this bustling demographic.

Whether you’re thinking about investing in your first student-friendly property, or you’re ready to make some accommodations to your current portfolio, here are our top tips for landlords of student homes:

Which properties are student-friendly?

As students are a socially active group with an inherent need for keeping expenses low, living alone in a rental property isn’t typically a viable option. Most student properties offer a minimum of 3 bedrooms and a large communal space, but it’s not uncommon for a 2-bedroom house or apartment to have plenty of interest from students if it is conveniently located. Open-plan kitchens and lounge areas are also ideal for those looking to house-share, as the home will need to accommodate a busy traffic flow.

Additional bathrooms, toilets or shower rooms are also great selling points for student households, as several tenants in one home will be working, studying, and socialising on different schedules, and sharing a single bathroom could prove difficult.

Finally, a great student-friendly rental home will be located within a 30-minute walking distance from the university campus as many students prefer to spend little to no money on their commute.

Offer good rates

By renting to such a large and constant demographic, your return on investment is already secured; so you might have a little more wriggle room to price your rent competitively. While tenants can benefit from a fair rent price, landlords can also put themselves at an advantage as tenants will be more inclined to renew the tenancy and stay for the duration of their studies if the property is viewed as good value for money.

Market your property to students

Since your target demographic will be exclusively students, it is integral that you understand this group in order to market to them. Students moving into rented accommodation will likely have to face floods of information all at once, so speak with your letting agent and make sure that your listing stands out by noting clearly that your property is available for students of the upcoming academic year. Social media is currently the most powerful medium to reach a younger demographic, and a great letting agent will be able to utilise this to your advantage and garner attention from students.

Make sure your property is secure

A student property is essentially a home away from home, whereby most tenants will bring their valuables to coax them through their studies such as laptops, smartphones, and other consoles for entertainment. Unfortunately, thieves are aware of this, which is why student properties are often targeted. As a landlord, it’s imperative to prioritise security and ensure that the risk of break-ins is low. In terms of your investment, a property with tight security measures and no history of break-ins will also have leverage against other listings.

What furnishing should I provide?

Most student tenants have travelled far from home for their place of study, and this means a furnished home is often a must.

Additionally, offering a furnished property might be a great way of appealing to the more niche group of students who might be inclined to stick out the full 3-or-so years in student accommodation on their campus, as you might be able to sway them towards branching out if your property offers better facilities than a typical student hall.

Are there any drawbacks?

While most students make excellent tenants, it’s important to note that you will be renting out to young people with little to no experience in renting. This does open up possibility for damage to the property or nuisance to neighbours if tenants aren’t chosen wisely. At Martin&Co, our agents can find you the right tenants for your property, make the letting process run as smoothly as possible, and create a long-term, positive relationship with tenants who are loyal, pay their rent on time and keep your property in great condition.

Are you looking for your next investment?

Summer is a flattering time for your home, the sun is shining through the windows, the alluring smell of cut grass is in the air, and potential buyers are out and about looking for ‘For Sale’ signs. Now is a great time to take stock and get your home in tip-top shape, ready for warmer weather and an influx of homebuyers.

If you’re thinking about opening your door to viewings this summer, take a look at these home improvement ideas to get the place looking as fresh as a daisy…

Unleash the power wash

It’s time to banish the veil of winter debris and allow your patios and outdoor decking to come out from hibernation. Welcome them back this spring with a pamper session by jet-washing away pent-up dirt from the grooves and corners – just make sure to switch to a low setting for wooden decking to avoid chipping the finish.

Make the garage gorgeous

Kerb appeal is a powerful thing and your garage door is an integral part of this head-turning technique. Whether it’s a fresh lick of paint, repairing dents, or replacing the entire door, you’ll be amazed by the difference in the aesthetic of the front of your home – plus, an updated model might offer better security and a stylish, modern look.

Style up the conservatory

As soon as things start heating up, you might find yourself gravitating towards the conservatory, which might benefit from a touch-up after a long winter without much use. The conservatory is a great medium between indoors and outdoors, so bring some of nature’s colours and textures inside with wicker chairs, floral prints and soft, fluffy pillows. Don’t forget tealights for ambience and a few cosy blankets for cooler evenings!

If you’re already happy with the décor, invest some time into a vigorous spring clean to get those windows and floors shining again, ready for the sun to come pouring in.

Get your boiler checked

It may seem strange to have your boiler serviced when it’s about to take a seasonal break, but after months of hard work over the winter months, now is a great time to make sure all the internal components are working. Much like cars, boilers need regular maintenance and a lack of use in the summer could result in important parts of the boiler seizing, or even pipes corroding. A summer service will identify any potential problems that could crop up when it’s in use again, and will also give it a chance to run during its out-of-use period.

Refine your palette

A colour scheme that looks great in the winter months might not necessarily hold up in the summer, and if the prolonged daylight hours have paradoxically left some of your rooms feeling dark, it could be a great time to delve into some neutral or bright tones. If you’re looking for a palette that transcends all seasons, opt for versatile and balanced shades like sage green, midnight blue and cream.

Build a firepit

Summer nights are underway, and part of the magic of the season is being able to cosy up outdoors long after the sun has gone in. A DIY firepit is a great way to create a central seating area in your garden and amp up the hang-out appeal. Choose a great spot away from the house with a view of the sky for stargazing and clear of any low-hanging tree limbs. This will allow you enough room to create a pit from natural materials and arrange your garden furniture around it, ready for those atmospheric summer evenings.

If you’re considering selling your home