Buying trends

Property trends 2022...

As Alasdair mentioned in his introduction to this magazine, the ‘race for space’ – the prevalent desire to move away from cities and into the countryside – has seen homebuyers re-evaluating not only where they might like to live but also the specific kinds of homes that they want. The yearning for more space goes beyond simple location; buyers are increasingly searching for more spacious homes and larger gardens, possibly even with a little land.

Changed working practices means that one of the most common space requirements is a property with room for a dedicated home office or even two. This may not always be practicable, so in smaller properties people are looking for areas that offer clever use of space to create an office nook in an underused area. This could be a corner or alcove of a room, a hallway or a landing, or other neglected space. In a larger property, a small spare room obviously works well utilised as a home office, but there are other options to consider too. If a spare room is not available, but the solitude of having an office behind closed doors is important, garage and loft conversions are good options to look for. Planning permission is not usually required as long as the work is internal and does not relate to a Listed building where additional consents may be required. Many people are surprised to learn that there is also usually no planning permission required when adding a small extension to the rear or side of a house, as such modifications are acceptable through government ‘permitted development rights’, although it is essential to take advice from a planning expert before undertaking any changes to your home.

Although office space remains important, people are also looking to reclaim some balance in their homes, and to make hybrid working work with hybrid interior spaces that really function for family life in 2022. Open-plan living is highly desirable for many house hunters, and never more so than in the kitchen. A modern family kitchen is so much more than just a functional room. It’s a place to socialise, entertain and work, and often needs to be flexible enough to be the perfect location for an informal dinner party, family meals, a place for children to play or do homework, and an area to relax. As the kitchen now occupies such an important role in our lives, it has become one of the most influential rooms in a property sale. A kitchen that matches the aspirations of the majority of the buying population is a huge step towards a successful sale.

The biophilia trend expands beyond natural materials to the desire to bring nature itself indoors. Perhaps as a result of the pandemic and lockdowns, people have realised the benefits of being surrounded by nature and are increasingly focused on creating a seamless flow between inside and out. People are on the look-out for homes with transitional spaces such as orangeries, sunrooms and conservatories; anything that can create a continuation of the interior space whist making the most of garden views and providing useful additional dining spaces or family rooms. If such an additional structure is not possible, considered use of glass panelling, large windows or bi-fold doors can unite inside and outside spaces.

The garden itself has taken on more importance in recent years too; people are now considering gardens as very much part of the living area of a home. Alfresco dining and entertaining were saviours for many during the pandemic, and show no sign of falling out of favour. Purchasers are looking for homes with space for cooking outside, with grills, pizza ovens and even fully fitted outdoor kitchens. Dining spaces do not necessarily need to be restricted to a patio area, and separate pergolas, verandas or other specially designed areas are being used to create additional garden ‘rooms’ which are slightly separate from the home and offer a more immersive experience of outside living and crucially, the all-important space that people are craving. People are becoming more aware of sustainability and the environmental impact of their actions. When it comes to property, this is not just apparent in the way that we build and heat our homes (you can read more about that on page 8) but also in the choices we make for their interiors. Biophilia may seem to be another zeitgeisty term made for a social media hashtag, but the desire for connection to nature can be seen as more than a passing fad. People are increasingly keen to utilise natural, responsibly resourced materials and furnish their house with products that offer longevity, increasingly eschewing ‘fast fashion’ and synthetic homewares due to their negative environmental impact.

Planning permission to build two quality three storey houses

Brackley, Northamptonshire

Guide price – £500,000

Banbury 01295 271555

• Sitting room and study • Open plan ‘living’ kitchen • 4 bedrooms and 2 bathrooms • Shower room • Utility room and cloakroom • Media room / playroom • Off-road parking for 3 cars • South-facing garden

Click to find out more

• Arranged over 3 floors • Bespoke kitchen • Dining room with family area • Drawing room with fireplace • Four double bedrooms • Family bathroom • Rear gardens and driveway • Grade II Listed

A stunning and unique Grade II Listed family home in a rare location

Aylesbury, Buckinghamshire

Offers in excess of £1,500,000

Thame 01844 212004

A Grade II Listed Georgian house currently run as a successful guest house

Knutsford, Cheshire

Click to find out more

• Vestibule, entrance hall and cloakroom • Kitchen and breakfast room • Three further reception rooms • 11 bedrooms (8 with en suite) • Two family bathrooms • Garden annexe with bedroom and en suite • Private drive and parking area • Grade ll Listed

Guide price – £795,000

Knutsford 01565 757970

An outstanding Grade II* Listed Mill House with fascinating mill, sitting within an idyllic rural location

Shackerstone, Leicestershire

Click to find out more

• Entrance hall with Minton floor • Drawing room, dining room and garden room • Kitchen and separate breakfast room with Aga • 6 bedrooms plus a box room • 4 bathrooms • Preserved mill building • Adjoining granary • Extensive gardens and paddock land

Price on application

Ashby de la Zouch 01530 410840

Stamp Duty

Stamp Duty Land Tax (SDLT) is payable to HMRC when buying property or land over a certain value. SDLT is payable to HMRC in the UK with the exception of Scotland where they have their own Land and Buildings Transaction Tax (LBTT) and Wales have Land Transaction Tax (LTT).

Stamp Duty Land Tax is levied progressively, in a similar way to income tax. Calculating your liability to this progressive tax can be complex. It can depend on the type of property you are buying, and whether it is your principal private home, a second or third home or a commercial or mixed-use property. Below we break down what Stamp Duty you would be charged depending on a variety of factors.

Purchasing a Sole Residential Property

If you are purchasing a residential property, are not a first-time buyer, are a UK resident and this will be the only property you will own and (whether you live in it or not), then you will pay Stamp Duty if the transaction price is above £125,000. Thereafter, you pay tax as follows: • The next £125,000 (the portion from £125,001 to £250,000) – 2% • The next £675,000 (the portion from £250,001 to £925,000) – 5% • The next £575,000 (the portion from £925,001 to £1.5 million) –10% • The remaining amount (the portion above £1.5 million) – 12%

Purchasing as a First-Time Buyer

There is a discount for first-time buyers. A first purchase of up to £300,000 no longer attracts the tax, and the existing rate of 5% applies between £300,000 and £500,000. The relief does not apply to properties above £500,000. If you bought your first home between 8 July 2020 and 1 July 2021, the discount does not apply, and you have no stamp duty to pay if the price was under £500,000.

Second Home, Buy-to-let Property or Holiday Home

Anyone purchasing a second home or buy-to-let property above £40,000 (unless this is the only property you own) will have to pay an additional 3% on top of the amounts detailed on the left.

If you are purchasing a new property which you intend to use as your only home, but haven’t yet sold your previous house, you would have to pay the higher rates detailed on the left – however, if you sell your old house within 36 months you could get a refund.

Non-Residential or Mixed Use Property

Purchasing a property with significant land holdings can attract a different stamp duty calculation. If the property is classified as nonresidential or mixed-use land and property there is a stepped regime as follows: • Up to £150,000 – 0% • Above £150,000 and up to £250,000 – 2% • Above £250,000 – 5% Our agency teams are highly knowledgeable and are often asked to provide advice about SDLT so please do get in touch with any questions you may have. To make life a little easier, our website has an online Stamp Duty calculator to cut through the often confusing world of SDLT and save you time – you can find it here:

Scope of service

Fisher German LLP is a leading national firm of specialist property consultants, chartered surveyors and planners, adding value to our clients through understanding, creativity and excellence. There are over 650 of us and we work out of 25 offices throughout the UK. We work for a broad range of clients in six main sectors. The heads of each sector are listed on this page together with contact numbers that you might find useful if you need advice about pretty much any topic relating to property and land.

Alasdair Dunne

Residential

07501 720412

Giles Lister

Utilities & Infrastructure

07901 918867

David Merton

Rural

07770 333331 Ben Marshalsay

Development

07771 974322

Duncan Bedhall

Commercial

07831 824663

Darren Edwards

Sustainable Energy

07918 677571

Thinking of buying or selling?

Fisher German has an extensive network offering exceptional national coverage. If you are looking to buy or sell residential or agricultural property we will be delighted to help you.

Please call us on any of the local office numbers on page 5 or email: property@fishergerman.co.uk if you would like a free market appraisal or if you would like us to help you with your property search.

Source magazine is intended to be informative but further advice should be taken before decisions are finalised. Prices are correct at time of launch. Fisher German LLP has tried to ensure accuracy and cannot accept liability for any errors, fact or opinion. Date of production March 2022.

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