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Here you will find a range of articles, blogs and property market report that you may find of interest. Please click the buttons below to read more and feel free to share to your preferred social media channel.

Take Advantage of the Leap Year

This year is a leap year – the 29th February only occurs every four years – which is about as frequently as many people used to move house during the heady days of property speculation that sparked the boom market. Nowadays most buyers and sellers are more level-headed and don’t leap from place to place quite so often. They tend to move for “real” reasons such as a change of job, children on the way, downsizing, debt, divorce, schools, etc.…

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Melksham and UK First-Time Homebuyers: A Tale of Rising Fortunes

As the heartbeat of the UK's property market quickens, first-time buyers in Melksham and across the nation have witnessed a remarkable evolution in housing affordability from 2015 to 2023. The average price paid by those stepping onto the property ladder paints a picture of both challenge and opportunity. In 2015, South West aspirant first time buyers paid an average price of £183,408, a figure that, while substantial, was tempered by regional economic conditions and national housing policies. It was a…

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The Future of the Melksham Buy-to-Let Market in 2024

The UK's property market is facing a significant challenge as the availability of homes for rent has plummeted to its lowest level in five years, exacerbating the difficulties tenants face in finding affordable accommodation. This alarming trend was highlighted in a recent analysis, which revealed that in 2023, only 261,542 private rental homes were available per month in the UK, marking a steep decline from the 379,459 monthly average of rental homes available in 2020 - a drop of 31%,…

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February 2024 – Property Market Comment with Nigel Fitzgerald

The good news is..... Sales are UP by 14.8%. Viewing ratios are UP. New instructions are UP. However, Nigel's key message for sellers is that 'the art of pricing' is still very important. We have seen an extremely positive start to what we recognise will be a more seasonal property market here in Melksham. Our role is still the same, we connect people to properties. If you are thinking of selling, feel free to book your valuation with the team…

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1 in 6 Retirees Renting in Retirement

In the ever-evolving UK housing landscape, renting is not just for the young. In fact, just under 1 in 6 retirees (975,230 of the 6.36million retired households) live in private rented accommodation. The golden years are seeing a surprising trend as more and more retirees are choosing to rent. This shift is influenced by soaring Melksham house prices and the desire for flexibility in later life. While the dream of homeownership persists for many Melksham people, the practicality of renting…

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We are bringing back our local school’s initiative for 2024!

We are thrilled to re-introduce our beloved local school initiative for 2024! In this initiative, Lock & Key will proudly donate 10% of our selling fees to one of the primary schools in Semington, Seend, or Broughton Gifford. This offer is extended to our clients who have ties to these schools.* Our commitment to local causes extends beyond just business. Through various engagements with charities, community groups, and sports associations, we deeply value and understand the significance of giving back…

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February 2024 – Property Market Comment with Richard

Will there be love in the air for your property move this February? Here's Richard with an update on the property market right here, right now.  So let’s look at the current market. As we said last month, there is nothing dramatic happening, which is generally a good thing, as it leads to stability and confidence. Interest rates were held and it looks like we’re in for a gentle reduction in mortgage rates over the coming months and years.…

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House Sales Up 14.8% on 2023 as Mortgage Rates Fall

Yet is it a sellers’ market in Melksham? The number of agreed UK property sales until the last Sunday of January (28th) is 8.35% higher than a year ago. Tumbling mortgage costs have encouraged buyers and sellers to return to the property market. There is a more buoyant picture for the UK property market in the first four weeks of January 2024 compared with the same first four weeks in 2023. Every UK region has seen an increase in the…

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Is 2024 a Good Time to Sell Your Melksham Home?

As a seasoned estate agent serving the Melksham community, I've always prided myself on offering transparent, informed advice to local homeowners. Today, I'd like to provide a balanced perspective on the current housing market trends and what they could mean for those contemplating selling their Melksham homes. The housing market is an ever-evolving landscape, and recent forecasts present a mixed bag of predictions that Melksham homeowners should consider before placing their 'For Sale' signs in their front gardens. According to…

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January 2024 – Property Market Comment with Richard

With 2024 now in full swing, Richard gives us an overview of where the property market as it is, today. With hope in the minds of many looking to buy and sell and stability on the agenda for those closing watching the property market. If you are interested to discover you property's value, reach out to the team today and book in your valuation here.

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The UK Property Market in 2024: A Robust Start with Implications for Melksham

As an experienced estate agent based in Melksham, I have been closely monitoring the trends in the UK property market. As of January 11th, 2024, the market has shown a solid start, a trend worth exploring, especially in how it might mirror or differ from the local market in Melksham. In the first 11 days of 2024, the UK property market recorded 22,402 homes sold subject to contract (stc). This figure represents a significant increase compared to the first 11…

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Mortgage War Will Save Melksham Homeowners £2,893 a Year.

In a recent financial turn, Melksham residents are experiencing a wave of relief as mortgage rates across the UK take a surprising dip. This reduction, led by major lenders, signals a potential opportunity for the Melksham housing market, directly affecting homeowners, landlords and first-time buyers in the town. Let's delve into what this means for the local market, weighing up both the opportunities and the need for realistic expectations. The Welcome Decline in Mortgage Rates Leading the charge, Halifax announced…

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Melksham’s Guide to Mortgage Independence: Removing a Name from a Joint Mortgage

In Melksham's dynamic property market, understanding the nuances of changing your mortgage, such as removing a name from a joint mortgage, is essential. This guide simplifies the process for Melksham homeowners looking to navigate this potentially complex situation. The Two-Step Process for Melksham Homeowners Step 1 - The Mortgage Part: This resembles remortgaging. Review your current mortgage to see if it's still favourable or if switching lenders could offer better terms. The lender will reassess the remaining party's creditworthiness and…

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Why didn’t Melksham House Prices Crash in 2023

As I review the performance of the Melksham property market in 2023, it's evident that despite the challenges, the housing sector in the town has shown remarkable resilience. At the beginning of the year, many commentators in January 2023 suggested house prices would drop like a stone in 2023. The Halifax thought there would be an 8% drop and the respected Nomura Bank 15%, yet according to the Land Registry, they ended 0.5% higher. Looking at the Land Registry figures…

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2024, a New Year – Maybe a new Melksham Home?

As we settle into the first few weeks of 2024, you may contemplate moving home. Whether it’s a quest for more bedrooms or reception rooms, a desire for a larger garden, a view, a move closer to the countryside, or downsizing, the New Year symbolises new beginnings. In navigating this journey, selecting the right Melksham estate agent becomes crucial to help you move. Begin by consulting those closest to you. Recommendations from friends and family can provide valuable insights, particularly…

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How the 11.2% Saleability Drop in the Melksham Property Market Might Impact Your 2024 Home Moving Plans

The Melksham housing market, like many others, has experienced a notable shift in 2023. The percentage of home sales agreed and moved (completed) compared to those withdrawn from the market unsold has decreased relative to 2022. Looking at independent data for the Melksham area (SN12) … In 2022, 67.8% of properties that left the books of Melksham estate agents agreed a sale, exchanged contracts, and the owners moved home (500 Melksham area properties exchanged and completed vs 237 properties that…

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Christmas 2023 Competition Winner

Thank you to everyone to entered our competition. There can only be one winner.... [drum roll moment]  Congratulations to Stacey Jones.  On behalf of the team, we'd like to thank everyone who got involved this year. There were some excellent film suggestions. This is what Stacey commented: 𝘔𝘺 𝘧𝘢𝘷𝘰𝘶𝘳𝘪𝘵𝘦 𝘊𝘩𝘳𝘪𝘴𝘵𝘮𝘢𝘴 𝘧𝘪𝘭𝘮 𝘩𝘢𝘴 𝘨𝘰𝘵 𝘵𝘰 𝘣𝘦 “𝘦𝘭𝘧”. 𝘐 𝘭𝘰𝘷𝘦𝘥 𝘪𝘵 𝘸𝘩𝘦𝘯 𝘪𝘵 𝘤𝘢𝘮𝘦 𝘰𝘶𝘵 𝘪𝘯 2003 𝘣𝘶𝘵 𝘯𝘰𝘸 𝘐 𝘨𝘦𝘵 𝘵𝘰 𝘦𝘯𝘫𝘰𝘺 𝘪𝘵 𝘵𝘩𝘢𝘵 𝘭𝘪𝘵𝘵𝘭𝘦 𝘣𝘪𝘵 𝘮𝘰𝘳𝘦 𝘣𝘺 𝘸𝘢𝘵𝘤𝘩𝘪𝘯𝘨 𝘵𝘩𝘦 𝘊𝘩𝘳𝘪𝘴𝘵𝘮𝘢𝘴…

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The Art of Pricing Properties Right

As we stand at the threshold of 2024, facing economic uncertainties and a shifting housing landscape, the significance of correct pricing in Melksham's property market has never been more pronounced. This comprehensive guide delves into the crucial aspects of property pricing and its profound impact on the property market transaction process. Melksham's Property Market: A Brief Overview Melksham's property market presents a unique blend of historical charm and modern appeal. The Melksham property market caters to diverse preferences, from classic…

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7 Tips on How to Keep Your Family Happy During Christmas.

Here are 7 tips to help keep your whole Melksham family happy during the Christmas season: 1. Set realistic expectations: It's important to remember that Christmas is just one day and that it's okay if everything doesn't go perfectly. 2. Involve everyone in the planning: Ask family members for their input and ideas for activities and traditions. This can help everyone feel included and contribute to a sense of unity. 3. Be flexible: Plans may change and that's okay. It's…

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December 2023 – Property Market Comment with Richard

Welcome to the December 2023 property market comment. So here we are at the end of a quieter year from the property market as a whole, although we have seen some remarkable results for our clients over the past few months. It’s tempting to suggest that now that interest rates appear to have peaked, unemployment levels remain low and post-Covid norms are slowly returning across the economy, that the property market will re-ignite its upward trajectory. However, we’d urge a…

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Boost Your Melksham Home’s Appeal with These 5 Must-Try Exterior Upgrades

Enhancing your Melksham property's curb appeal is an investment that pays off whether you're selling or staying. Discover these five effective ways to elevate your Melksham home's outdoor aesthetics and create an inviting atmosphere. Transformative Exterior Paint & Staining Fresh paint can work wonders for your home's first impression. It's a cost-effective upgrade that speaks volumes. The colour you choose sets the tone, with neutral shades offering timeless appeal. Consider bolder choices for your front door to add a touch…

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Melksham’s Guide to Property Co-Ownership: Unveiling the Options

Embarking on your first property purchase is indeed a thrilling experience. Whether you're planning to share this venture with friends, family, or a significant other, understanding the nuances of co-ownership is crucial. Let's delve into the distinct methods of joint property ownership available in Melksham: 'Joint Tenants' and 'Tenants in Common'. Exploring the Types of Joint Ownership in Melksham: Joint Tenants: Opting for joint tenancy in Melksham implies that every owner possesses equal rights to the entire property. The law…

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Melksham Property Market: Which homes are selling the best?

Inflation, interest rates, house prices down, house prices up ... the newspapers are full of column inches on Brit’s second favourite topic - the property market (the first being the weather obviously!). Those of you that read my articles on the Melksham property market know I like to look further afield to compare the Melksham market with the regional and national markets. The one thing that is immediately apparent is that the UK does not have one property market. House…

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Our Take on Chancellor Hunt’s Autumn Statement & the Melksham Housing Market

The Chancellor Jeremy Hunt announced on Wednesday lunchtime a series of changes in his Autumn Statement. These changes, though not revolutionary, are set to benefit various sectors of the Melksham property market, including private renters, landlords and first-time buyers. One significant update is the increase in the Local Housing Allowance (LHA). Next year, the LHA will rise to cover the 30th percentile of local rental market rents. This adjustment, long advocated for by landlord and lettings agency groups, aims to…

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Understanding House Surveys in the UK

Understanding House Surveys in the UK: Responsibilities, Types, and Differences When embarking on the substantial investment of buying a home, it's crucial to ensure that your purchase is sound and worthwhile. This is where house surveys come into play, offering a detailed inspection of the property's condition before you commit to the purchase. In the UK, the dynamics of who organises and pays for these surveys vary depending on location. Who is Responsible for Arranging and Paying for a House…

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The Future of Melksham House Prices

In the ever-changing landscape of the Melksham property market, predicting future house price trends can be akin to navigating a labyrinth. The past two years have witnessed unprecedented upheaval, primarily due to fluctuating interest rates that significantly impacted household finances, reminiscent of the challenges not faced since 2008. The average rates for fixed-rate mortgages have dramatically risen, notably from late 2021. This hike in the Bank of England base rates has led to a substantial increase in monthly mortgage payments,…

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November 2023 Property Market Comment with Nigel Fitzgerald

The 2024 Property Market will be better! This is the key message from proud business owner, Nigel Fitzgerald, in our November 2023 Property Market Comment. As always, if you would like to speak to Nigel about selling your home, either now or in 2024, reach out to us and book your valuation here online. Watch Nigel's video below: 

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How today’s drop in Inflation will affect the Melksham property market

Today’s drop in UK inflation to 4.6% from 6.7% in September has several implications for the Melksham property market: Mortgage Rates and Housing Market Sentiment: The drop in inflation is expected to influence the Bank of England's decisions regarding interest rates. With inflation falling more than expected and core inflation also reducing, there's a growing belief that the Bank of England might keep rates on hold, as evidenced by the recent pause in rate hikes​​. This expectation is affecting the…

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The Melksham Property Market and the importance of realistic pricing (if you want to sell)

The UK's property market landscape has experienced a significant shift over the last couple of years. In October 2021, there were 424,809 properties for sale in the UK. That now stands at 664,780, a rise of 56.5%. Looking at the number of property sales in the UK in October 2021, 111,229 properties were sold subject to contract (stc). In October 2023, that figure dropped to 88,737 properties sold stc, a reduction of 20.3%. Yet, then I thought to myself, this…

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November 2023 Property Market Comment with Richard

Welcome to the November 2023 property market comment. We’ve just heard from the Halifax and the Nationwide that average house prices surprisingly rose by around 1% last month, reducing the annual rate of decline to about 3%. This might seem to be a beacon of hope for the property market, but the economists suggest that this small rise maybe an anomaly and is unlikely to be sustained, particularly when we consider that mortgage approvals are more than 30% below their…

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Mastering the Art of Property Negotiation: A Melksham Estate Agent’s Insight

Entering the world of property negotiation can appear intimidating, especially for those unfamiliar with the intricacies of the Melksham property market. However, with a few expert tips, you can navigate the terrain and potentially secure your Melksham dream home at a favourable price. Firstly, to be taken seriously in negotiations, get an offer on your existing property. Contrary to common fears, selling doesn't render you homeless. It merely signifies you've accepted an offer, not legally committed, and physically moved out.…

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Implications of Steady Interest Rates for Melksham Homeowners

The Bank of England has held the interest rates at 5.25% for the second consecutive time. This decision, welcomed by many, especially hints at a semblance of stability for homeowners and prospective buyers in Melksham. The widely anticipated move came on the heels of September’s inflation figures, which remained steady at 6.7%, alleviating some pressure off the Bank’s Monetary Policy Committee. The vote to maintain the rate was a majority of 6 to 3, indicating a cautious approach towards any…

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Melksham Homeowners Alert – Avoid These 8 Costly Mistakes!

When it comes to increasing the value of your Melksham home, not all upgrades are created equal! Before you dive into a renovation, consider these 8 common home improvement blunders: Removing a Bedroom: This is a big one. Decreasing your bedroom count can slash up to a sixth of your Melksham home’s value! Converting a Garage: Be very careful what you gain with a room, don’t devalue it by losing a garage. Media Rooms: They sound glamorous but can be…

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The Resurgence of Melksham’s Semi-Detached Houses

The Resurgence of Melksham's Semi-Detached Houses: ... a 461% Price Surge in 28 Years In the realm of British suburban living, the semi-detached house has often been the subject of caricature, a symbol of safe yet uninspiring domesticity, epitomised by hit TV shows and movies like the Dursleys out of Harry Potter, the BBC show Outnumbered, Birds of a Feather and the ever-awkward son of Norwich, Alan Partridge. However, recent property trends in Melksham have given semis the last laugh,…

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Rental Market Dynamics

The UK rental market has once again demonstrated its resilience and dynamic nature. Recent figures state that the average advertised rent for newly listed properties in the UK last month was £1,787 per calendar month (pcm). The average for the UK excluding Greater London is £1,211 pcm (and Greater London on its own is £2,989 pcm). In our region of the South West, the average rent currently stands at £1,304 pcm. Rents in the South West have grown tremendously. Rents…

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October 2023 Property Market Comment with Nigel Fitzgerald

We are here to help! This is the one of the key messages in Nigel's property market comment for October 2023. If you would like to get a better understanding of how the local and national property market is performing this Autumn, feel free to reach out and speak with Nigel.  𝗧𝗵𝗶𝗻𝗸𝗶𝗻𝗴 𝗼𝗳 𝘀𝗲𝗹𝗹𝗶𝗻𝗴 𝘆𝗼𝘂𝗿 𝗽𝗿𝗼𝗽𝗲𝗿𝘁𝘆? Book your valuation here online.

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Your Ultimate Guide to Property Insurance!

Melksham Homeowners & Tenants Every corner of your home, from the family heirloom in the lounge to the vibrant garden, is filled with both emotional and financial significance. In Melksham, where homeowners and tenants cherish their properties, understanding property insurance becomes paramount. Here's a snapshot to help you navigate the intricacies: Why Insurance? A home often represents a major life investment. Insurance ensures you're not facing unforeseen damages alone, providing both asset protection and mental peace. Legalities: Mortgage providers usually…

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October 2023 Property Market Comment with Richard

Welcome to the October 2023 property market comment. And it’s an important one if you are selling. You may have heard that house prices have fallen every month for the past six months, according to the Halifax, and many economists believe they are set to fall further in the year ahead - some say by up to 10%. This is mostly due to the market playing catch-up, following 14 consecutive interest rate rises in nearly two years. However, I think…

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ACT NOW for a Christmas Move

Many people moving at this time of year would naturally prefer to be in their new home in time for the Christmas. Not only does a house really become a home at that time of year, but with most people taking one or two weeks off work, there’s plenty of time to either enjoy your new surroundings or put in some hard DIY home improvement graft between mince pies. The year end is also a good time for children to…

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September 2023 – Property Market Comment with Richard

Welcome to the September 2023 property market comment. The weather may still be telling us it’s the height of summer, but the schools have now gone back, the holidays are behind us and life for most of us is very much back to normal. This is actually a good time for the property market, with the next focus on achieving a sale by Christmas a firm reality. Although the nationwide tells us that average house prices are down over 5%…

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August 2023 – Property Market Comment with Nigel Fitzgerald

"What is happening in the property market right now?" A popular question asked by so many and here's proud business owner, Nigel Fitzgerald to explain a little more about what we are seeing right now and how to price your home to sell. If you are considering a move and would like to book your valuation with Nigel, click here.  

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August 2023 – Property Market Comment with Richard

Welcome to the August 2023 property market comment. And not everyone’s on holiday it seems! The property market used to be dead during the holidays but this year we’ve seen a surprising amount of consistency from month to month, and the market seems to be holding up pretty well, despite those interest rates-up again. But have they now peaked, we wonder? The medicine is working-the inflation figures are moving in the right direction and employment levels remain high as well,…

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Anyone for Tennis?

Congratulations to a new Wimbledon winner, exhilarating stuff.  The thwack of tennis balls, the clink of a cup of tea and the slurp of a sucked strawberry are sounds that are synonymous with the perfect English summer – weather permitting of course. It seems that everyone in this area enjoyed the Wimbledon season as a sporting event as much as a lifestyle aspiration. As estate agents, we often accompany buyers around a property when the tennis is inevitably on TV…

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July 2023 – Property Market Comment with Nigel Fitzgerald

If you are currently intrigued by what is happening in the property market and need some guidance, take a moment to watch the latest property market comment with proud business owner, Nigel Fitzgerald. Over the last few month's there has been much uncertainty with the increase of interest rates and other influencing factors involved. Speaking to your local estate agent can help you get a better understanding of how things are right now. If you are looking to find out…

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July 2023 – Property Market Comment with Richard

Welcome to the July 2023 property market comment. When the weather’s fine it does seem to put a spring into the step of the property market and that is certainly the case at the moment. In fact, the traditional activity of a Spring market has overflowed into the summer this year, which is great news all round. Although we know that the inevitable correction to what was an overpriced market is gently happening, that need not be a concern for…

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June 2023 Property Market Comment with Richard

As predicted in last month's video, the property market is really hotting up with lots of activity and lots of sales. Find out more about what is happening with buyers and sellers right now. 𝗧𝗵𝗶𝗻𝗸𝗶𝗻𝗴 𝗼𝗳 𝘀𝗲𝗹𝗹𝗶𝗻𝗴 𝘆𝗼𝘂𝗿 𝗽𝗿𝗼𝗽𝗲𝗿𝘁𝘆? Book your valuation here online. 

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May 2023 Property Market Comment with Richard

Here's Richard with his property market update for May 2023. As we suggested last month, the Spring market was, and is, everything we hoped for, with “choice” being the word of the month, closely followed by “confidence”. We know that many homebuyers over the past couple of years have been frustrated by a lack of choice, which in turn prevented them from bringing their own property to market. Well, as predicted, that has all changed and there are now 66%…

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An alternative approach or good old fashioned common sense?

Several predictable aspects of a property typically impress a buyer. Well-presented, quiet area, good repair, neat and tidy, pleasant sounds and smells, good neighbours, light and airy, spacious rooms, well-balanced accommodation, good flow, well-planted garden, convenient location, privacy, etc. These preferences are not unique as most people tend to like the same things. However, there is an increasing trend for people to seek other ways of assessing the desirability of their future home, such as feng-shui, the Chinese art of…

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April 2023 – Property Market Comment with Nigel Fitzgerald

Why do we like Vanilla? Find out more by watching Nigel's property market comment for April 2023. If you are considering a move, find out how much your property is worth by booking your valuation with Nigel here online. 

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Lower, Upper, To Middle-Market, All Market Sellers Receive Top-of-Market Service

Only a handful of estate agency brands are known to handle the top of the market – from a million-pound-plus properties that warrant the type of marketing that is in keeping with the status of both the property itself - and its owner. However, at Lock and Key, although we are proud of our success with expensive properties, it is not the properties’ value that has supported this reputation – it’s the style and service level behind the sale that…

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