AN ESSENTIAL MONTHLY PROPERTY GUIDE FOR ANYONE MOVING OUT OF LONDON – FROM TIMES LOCAL NEWSPAPERS
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Making the right move for you
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Karrina Oki, from the Sales and Marketing team at Berkeley Homes (left) explains the new concept of ‘rightsizing’ when it comes to buying a property…
he world of homebuying seems to have its own vocabulary, from upsizers and second-steppers through to downsizers, retirees and empty nesters, with each reflecting ever-changing living trends and motivations for moving home Recently we’ve seen an increasing number of buyers moving on from the family home now the children have left, but it’s not necessarily always to a smaller – or lesser – home than the traditional ‘downsizing’ label would suggest. Size isn’t everything and there is a
now a new generation of rightsizers, for whom there are far more important factors in their decision making. Location, location, location For many buyers, location is a top priority. Not everyone wants to retire to the country they want to be conveniently placed to enjoy life. Towns with a rich heritage, particularly those with active local communities and lots of leisure and entertainment on offer, such as Tunbridge Wells and Sevenoaks, are particu-
larly popular with rightsizers, the key appeal being the ease of lifestyle. A convenient central location means both great transport links and only a short walk to the local amenities, shops and restaurants. For one couple, who relocated from Bristol to Royal Wells Park, the development’s proximity to the town centre, cultural amenities and railway station was a huge draw, and ticked off some of the key requirements for their new home. That said, if the rural country life is calling, there are more options for rightsizers than a period property overlooking the village green. One buyer at new development, Holborough Lakes, wanted to be in the heart of an active community, but didn’t want to compromise on the countryside views. Her apartment, which lines the eight-acre freshwater lake, is also just a short walk from the new village green and hall – ticking two of the most important boxes for her new home. Easy upkeep and low cost Many rightsizers also want a lower maintenance property that is easier to look after, both inside and out, yet with the high specification they are used to - making new build properties an ideal choice. For another couple who bought at Royal Wells Park in Tunbridge Wells, finding a low See pages 2 & 3 for more on rightsizing >>
HOT PROPERTY NEWS
Prepare to be gazumped That infuriating infliction of the 1980s and 90s gazumping – when buyers are pipped to the post by a higher bidder - is rife once again in the housing market. Recent research by eMoov revealed more than one in three buyers (36%) have experienced the sly tactic compared to just 13% in 2015. It was also revealed that 35% of gazumping affected buyers in London.
What price loyalty? Loyal bank customers who do not remortgage after their fixed term deal comes to an end can end up paying an average extra £400 a year, according to a study. Citizens Advice also calculated that 1.2 million people would be better off if they switched to a new deal, with one in 10 paying more than £1,000 a year extra by staying on the standard variable rate.
Foxtons feel the pinch Revenues and profits at Foxtons slumped in the first half of the year as the London estate agent pointed to ‘unprecedented’ economic and political uncertainty hitting the property market. The group said revenue fell 15% to £58.5 million in the six months to June 30, with pre-tax profit plummeting 64% to £3.8 million.