Category: Property Sales

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Your First Home Scheme: Everything You Need To Know

What is the Your First Home scheme?

Your First Home is a new government scheme designed to help eligible first-time buyers get onto the property ladder with a smaller deposit and a lower mortgage. It is aimed at people who may be able to afford monthly mortgage payments but are struggling to save enough for a traditional deposit.

The scheme is expected to open for applications in February 2027, with the first property sales planned for April 2027. It will apply to eligible new-build homes in England purchased from developers taking part in the scheme.

For first-time buyers in Nottingham, this could provide another route to homeownership, particularly if saving a large deposit has been the biggest obstacle. However, there are eligibility rules, property price limits and longer-term costs to consider before deciding whether it is right for you.

How does the First-Time Buyer Scheme 2027 work?

The Your First Home scheme allows eligible buyers to fund a property purchase using three parts:

  • A cash deposit of at least 2.5% of the purchase price.
  • A government equity loan worth 20% of the purchase price.
  • A repayment mortgage from a participating lender to cover the remaining 77.5%.

This means you would need to save a smaller deposit than you would typically need for a standard 95% mortgage. You would also need to borrow less through your mortgage because the government equity loan covers part of the purchase price.

For example, if you were buying an eligible new-build home for £300,000, the purchase could be funded as follows:

  • Your deposit: £7,500.
  • Government equity loan: £60,000.
  • Your mortgage: £232,500.

Without the scheme, a buyer purchasing the same property with a standard 95% mortgage would typically need a £15,000 deposit and a £285,000 mortgage.

The scheme could therefore reduce the initial deposit by £7,500 in this example, while also reducing the mortgage required. You would still need to pass the lender’s affordability and credit checks, and you would need to cover other costs associated with buying a home.

Who is eligible for the 2027 First-Time Buyer Scheme?

Your First Home is designed for first-time buyers who need help purchasing a new-build property. Under the government’s published guidance, the main requirements include:

  • You must be a first-time buyer.
  • You must buy an eligible new-build property in England from a participating developer.
  • The property must be within the relevant local authority price cap.
  • You must use the property as your main home.
  • Your total annual household income must be £110,000 or less outside London, or £140,000 or less in London.
  • You must be able to obtain a repayment mortgage from a participating lender.

These are the main requirements set out in the published guidance. The full eligibility rules and application details should be checked against the latest official information before you make financial commitments.

Can you use the scheme to buy a home in Nottingham?

The scheme will apply to eligible new-build properties in England, so Nottingham buyers may be able to use it if they meet the requirements and find a suitable property from a participating developer.

However, there will be local property price caps. These are intended to keep the scheme focused on homes within an appropriate price range for each area. The full list of local authority price caps for every area, including Nottingham, should be checked once officially published.

This means you should not assume that every new-build home in Nottingham will qualify. The property’s location, purchase price and developer participation will all matter.

If you are considering buying in Nottingham, it is worth starting to look at the types of homes available and the areas that suit your budget. You can also explore our guide to property investment in Nottingham if you are researching the local property market, although the Your First Home scheme is intended for buyers purchasing their own main residence rather than buy-to-let investors.

How much deposit do you need?

The minimum deposit under Your First Home is 2.5% of the property’s purchase price. The amount you need to save will therefore depend on the price of the home you want to buy.

  • £150,000 property: £3,750 deposit.
  • £200,000 property: £5,000 deposit.
  • £250,000 property: £6,250 deposit.
  • £300,000 property: £7,500 deposit.

These examples show the deposit at 2.5% of each property price. They do not mean that homes at these prices will automatically qualify, as local price caps and other eligibility requirements will apply.

Remember that your deposit is only one part of the cost of buying a property. You should also budget for legal fees, a survey, mortgage fees where applicable, moving costs and any other expenses involved in the purchase.

How does the government equity loan work?

The government equity loan covers 20% of the property’s purchase price. It will be interest-free for the first five years. Under the published schedule, interest will then apply as follows:

  • Years 1 to 5: no interest.
  • Year 6: interest at 1.5%.
  • From year 7: interest at 3%.

These interest payments are separate from your mortgage payments and do not reduce the amount you owe on the equity loan.

It is also important to understand that the loan is linked to the value of your property. If you buy a home for £300,000 and take a £60,000 equity loan, the loan represents 20% of the original purchase price.

If the property is later valued at £320,000, repaying 20% of its value would mean repaying £64,000. If it is valued at £280,000, the equivalent amount would be £56,000. The amount you repay can therefore rise or fall with the property’s value, subject to the scheme’s repayment rules.

The equity loan is intended to be repaid when you sell the property, and the scheme guidance allows for early repayment. The detailed repayment requirements, valuation process and any fees should be checked in the final scheme guidance before you commit.

Will your monthly mortgage payments be lower?

Because the government equity loan covers part of the purchase price, the mortgage you need could be smaller than it would be with a standard 95% mortgage. This could reduce your monthly mortgage payments, although the amount you save will depend on the property price, mortgage rate and lender’s terms.

The government’s illustrative example uses a £300,000 property and a 30-year repayment mortgage at a 5% interest rate. In that example, the mortgage payment under Your First Home is approximately £1,248 a month during the first five years, compared with around £1,530 for a standard 95% mortgage.

The equity loan is interest-free during those first five years. In the government example, the total monthly cost rises to approximately £1,323 in year six and £1,398 from year seven as interest becomes payable on the equity loan.

These figures are illustrative rather than a mortgage offer. Your actual payments will depend on your circumstances and the mortgage product available to you. They also exclude other homeownership costs such as council tax, insurance, maintenance and any service or estate charges.

When does the First-Time Buyer Scheme launch?

The government’s published timetable sets out the following expected milestones:

  • By the end of December 2026: customer pre-registration and further guidance are expected to be available.
  • February 2027: the scheme is expected to open for customer applications.
  • April 2027: the first property sales under the scheme are expected to take place.

Applications are not yet open. Pre-registration is expected to help prospective buyers find out more about eligibility and the price cap for their area, without committing them to a purchase.

The government has also announced £4.7 billion of funding for the scheme over five years. This is intended to support the programme over its planned period, but it does not mean every buyer or property will automatically qualify.

If you are hoping to buy your first home in 2027, you can use the time before launch to review your finances, check your credit report, work out what monthly payments you could afford and research the areas where you would like to live.

What should first-time buyers do now?

You do not need to wait until applications open to start preparing for a property purchase. Getting organised now could help you understand your options and move more confidently when suitable homes become available.

  • Work out your budget. Consider your deposit, likely mortgage payments and the additional costs of buying and maintaining a home.
  • Review your credit history. Mortgage lenders will assess your credit profile as part of their application process.
  • Understand your borrowing options. The scheme will not guarantee mortgage approval, so it is worth finding out what you may be able to borrow.
  • Research new-build properties. Check which developments may suit your needs and look out for announcements about participating developers.
  • Keep up to date with the rules. Local property price caps, lender participation and the full application process will need to be confirmed before you apply.

It is also sensible to consider what would happen if mortgage rates increased or your circumstances changed. Although a smaller deposit could make buying more accessible, you should still be comfortable with the longer-term costs of owning the property and the eventual repayment of the equity loan.

Is the First-Time Buyer Scheme right for you?

Your First Home could offer a useful option for people who have a regular income but have found it difficult to save a large deposit. The combination of a 2.5% deposit and a 20% government equity loan could make some eligible new-build homes more accessible.

However, it will not be suitable for everyone. You will need to meet the scheme’s requirements, find an eligible property within the local price cap and secure a mortgage. You should also consider the interest charges that begin after five years and how changes in your property’s value could affect the amount you eventually repay.

It is worth comparing the scheme with other routes to homeownership, including standard mortgages with different deposit requirements. The right option will depend on your savings, income, circumstances and the homes available in your preferred area.

Looking to buy your first home in Nottingham?

If you are planning to buy in Nottingham, understanding the local property market can help you narrow down the areas and types of homes that fit your budget. The Your First Home scheme may provide another option in 2027, but the final local price caps and participating developments will be important.

Benwell Daykin estate agents can help you explore the Nottingham property market and understand what is available. If you are also researching the local rental market, you can find out more about our letting agent services in Nottingham.

For more information about buying or selling a property, contact Benwell Daykin and speak to our team.

Information in this guide is based on government guidance published in October 2026. Scheme requirements, local property price caps and application details may be updated before launch. Always check the latest official guidance before making a purchase decision.

Read the official Your First Home scheme guidance on GOV.UK.

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UK Property Market Continues to Show Strong Levels of Activity

The UK property market continues to demonstrate encouraging levels of activity, with the latest figures showing that the number of homes being sold remains comfortably above pre-Covid levels.

According to the latest market data for the week ending 30 August 2026, 832,000 homes have gone under offer or been sold subject to contract so far this year.

That is 5.7% higher than the average for the same period between 2017 and 2019, when 789,000 properties had reached the same stage of the sales process.

For anyone considering moving home, the figures provide a positive indication that the property market continues to operate at a healthy level, with buyers and sellers actively making decisions and transactions continuing to take place.

Nearly 100,000 Sales Agreed in August

August also saw a significant number of properties agree sales.

There were 97,900 sales agreed during the month, considerably higher than the 87,600 recorded in August 2023.

This provides further evidence of an active market, with thousands of homeowners successfully finding buyers and thousands of purchasers moving forward with their plans.

The figures also demonstrate that there continues to be a good flow of property through the market as we move towards the autumn months.

Plenty of Property Coming to Market

There is also a healthy supply of homes available to buyers.

A total of 1.231 million new property listings had come onto the market by week 34 of the year. This is broadly in line with the same point in 2025 and is around 10% higher than the average for the equivalent period between 2017 and 2019.

There were approximately 767,000 properties available for sale on 1 August 2026, almost identical to the 763,000 available a year earlier.

For buyers, this provides plenty of choice across the market, while sellers continue to have the opportunity to put their property in front of a substantial pool of potential purchasers.

Most Sellers Are Achieving Their Asking Price

One particularly encouraging statistic is the proportion of sellers completing their sale without having to reduce their initial asking price.

Around 80% of sellers who completed a sale in 2026 did so without reducing their original asking price.

This highlights the importance of establishing an appropriate asking price from the outset and presenting a property effectively to the market.

For homeowners thinking about selling, an accurate valuation based on current market evidence can provide a strong starting point for a successful sale.

Property Values Continue to Rise

There is also positive news in the latest data on agreed sale prices.

The average price per square foot for properties where a sale was agreed reached £345.41 in July 2026. This represents a 1.2% increase compared with £341.43 a year earlier, and an 11.9% increase compared with five years ago.

While individual property values will naturally vary depending on location, size and condition, the longer-term figures demonstrate continued growth in the value of UK residential property.

A Positive Market for Buyers and Sellers

Taken as a whole, the latest figures provide plenty of reasons for confidence in the UK housing market.

Sales activity remains above the levels seen before the pandemic, almost 100,000 sales were agreed during August, more than a million properties have come onto the market during the year and average agreed prices per square foot remain above their level a year ago.

Every property market is different, and local conditions can vary considerably. However, the national figures provide a useful backdrop for anyone considering their next move.

At Benwell Daykin Estate Agents, we understand that buying or selling a property is about much more than national statistics. Local knowledge, an accurate valuation and effective marketing all play an important role in achieving the best possible outcome.

If you’re thinking about moving home, contact Benwell Daykin Estate Agents for an up-to-date valuation and advice on the current market.

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2026 Home Buying Reforms: What Do They Mean for Buyers and Sellers?

The government has announced a significant package of reforms designed to overhaul the home buying and selling process in England. For anyone currently on the market — or thinking about making a move — it’s worth understanding what’s changing and why it matters.

What’s being proposed?

The Ministry of Housing, Communities and Local Government (MHCLG) unveiled the reforms on 19 June 2026, describing them as the biggest shake-up of the homebuying process in a generation. Here are the key changes:

  • Upfront sales packs — Sellers and estate agents will be required to provide a sales pack at the point of listing. This will include the property’s condition, leasehold costs, and chain status, so buyers have the information they need before making an offer.
  • Earlier binding agreements — Transactions will become legally binding much sooner — from the point an offer is accepted. If either party pulls out without valid reason, they face a financial penalty. This is designed to reduce the risk of late-stage fall-throughs and gazumping.
  • Digital identity checks — Buyers and sellers will no longer need to repeatedly prove their identity to multiple professionals. A single trusted digital verification will be accepted across the process, cutting duplication and delays.
  • AI-assisted conveyancing — The government is backing the use of AI tools to help conveyancers work more efficiently, reduce paperwork, and speed up transactions.
  • Digital property logbooks — Property information will be stored and shared digitally in real time between buyers, sellers, and professionals, replacing slow and unreliable paper-based systems.
  • New code of practice for estate agents — Minimum standards will be introduced later in 2026, followed by a consultation on estate agent qualifications in 2027.
  • Electronic signatures — Documents can be signed digitally throughout the process, removing another common source of delay.

The government estimates these changes could cut around four weeks from the average transaction time and save first-time buyers an average of £650.

Why does this matter?

Anyone who has been through a property transaction will know how stressful the current process can be. Weeks — sometimes months — can pass between an offer being accepted and exchange of contracts, with little certainty on either side. Fall-throughs are common, costly, and often avoidable.

Industry figures broadly welcomed the announcement. Nationwide’s Group Director of Mortgages described the proposals as a major milestone in the efforts to simplify and streamline the homebuying process, noting that giving buyers key information upfront at the point a property is listed has the potential to transform the process.

What does it mean for sellers?

One of the more significant shifts is the expectation that sellers will need to prepare more information before going to market — likely including a digital property pack and, in some cases, a survey. This is a departure from the current norm where much of this information is gathered reactively once a buyer is found.

The upside is that transactions should move faster once a sale is agreed, and there’s less risk of a deal falling apart due to issues that could have been identified earlier. The downside, as some in the industry have noted, is that sellers will need to invest more time and potentially money before listing.

Thinking of moving?

If you’re considering putting your property on the market — or starting your search for a new home — it’s a good time to speak to an experienced agent who can guide you through the current process while keeping an eye on what’s coming. At Benwell Daykin estate agents, we’re here to help at every stage. Get in touch with our team to find out more.

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Nottingham House Prices 2026

It’s been a challenging period for the UK property market, with higher interest rates, affordability pressures and fluctuating prices affecting both buyers and sellers. However, as we move into 2026, there are signs that the market is beginning to stabilise. Here, we take a closer look at house prices in Nottingham and what the latest data suggests for the months ahead.

House prices at the start of 2026

According to the Hometrack UK House Price Index (January 2026), house prices across the UK increased modestly over the past year. Annual price growth now sits at just over 1 per cent nationally, showing a more balanced market after the volatility seen in previous years.

Buyer confidence has started to improve following a slowdown in late 2025, helped by falling mortgage rates and a gradual recovery in demand. At the same time, more homes are coming to market, giving buyers greater choice and keeping price growth under control.

Nottingham house prices

Looking specifically at Nottingham, the city has continued to perform relatively well compared to many other parts of the country. Average house prices in Nottingham are now around £203,000, with annual growth of approximately 2 per cent, according to Hometrack-aligned data.

This places Nottingham above the national average for price growth, despite remaining significantly more affordable than many southern cities. While some areas have seen prices stagnate or fall slightly, Nottingham has experienced steady, consistent growth, supported by strong rental demand, a large student population and ongoing investment across the city.

Interestingly, the wider East Midlands has seen much weaker growth overall, with prices broadly flat year on year. This highlights Nottingham’s resilience compared with the surrounding region.

Why is Nottingham holding up well?

House prices tend to rise where demand remains strong, and Nottingham continues to attract both buyers and investors. Improved affordability compared to cities like London and Birmingham, combined with better mortgage availability than a year ago, has encouraged activity in the local market.

Lower mortgage rates have also helped first-time buyers and home movers re-enter the market, even though affordability remains a challenge for many. While price growth is modest, it is far more sustainable than the sharp rises seen in previous years.

Our outlook for the Nottingham property market

Looking ahead, we expect the Nottingham housing market to remain stable through 2026, with slow but steady price growth rather than sharp increases. Traditionally, the early part of the year is quieter, but activity is likely to pick up into spring if interest rates continue to ease.

Further reductions in borrowing costs would help boost confidence and support demand, particularly among first-time buyers and upsizers. Overall, Nottingham is well placed to continue outperforming many UK cities due to its affordability and strong underlying demand.

property price demand

How much is your house worth?

Have you wondered how much your Nottingham property is worth in today’s market? Or how much it has changed in value over recent years?

Contact Benwell Daykin estate agents Nottingham for a free, no-obligation property valuation, or get in touch to discuss the local market in more detail. You can call us on 0115 9902007.

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Property Price Report Summer 2025

As we move well into summer 2025, the UK property market shows increasing signs of stabilisation — with modest growth, renewed buyer activity, and a cautiously optimistic outlook. Buyer demand is also picking up again following the impact of the April stamp duty changes.

Latest reports from major lenders show UK house prices remained steady in June. The average UK property price currently sits between £296,000 and £297,000, marginally lower than earlier in the year. Annual house price inflation is estimated between 2.1% and 2.5%, with modest month-on-month variations.

More affordable markets — typically those with average values under £200,000 or £250,000 — are continuing to outperform more expensive areas. These lower-cost regions are seeing annual growth of 2.7% to 3.5%, while very high-value areas (those over £500,000) are seeing minimal or even negative price changes.

The luxury and country house market is also showing signs of movement. Sales of high-end country homes have increased by around 7% year-on-year, although prices in that segment have dropped slightly over recent months.

Forecasts suggest UK-wide house price growth of between 3.5% and 4% through the remainder of 2025, assuming economic confidence holds and mortgage rates remain relatively stable.

Overall, the UK housing market this summer is shaping up to be a buyer-friendly environment: with plenty of supply, moderate discounting, and strong buyer activity — particularly in northern and more affordable regions. Sellers are often accepting offers around 3% below asking price, and sales pipelines are the healthiest they’ve been in several years.

Nottingham Property Market

Here in Nottingham, the local property market reflects many of the broader national trends but with an even more optimistic tone. At Benwell Daykin, we’ve seen sustained buyer interest, competitive pricing, and a clear sense of momentum throughout the county and in Ruddington.

Latest Prices and Trends

The average house price in Nottingham as of April 2025 stands at approximately £192,000, marking a 4.8% increase compared to the same time last year. This rate of growth outpaces the wider East Midlands, which saw an average rise of 3.8%, and sits well above the national growth average.

Terraced houses in Nottingham have seen the strongest growth, rising by 5.6% year-on-year. Semi-detached and detached homes have both experienced gains of around 3.1%, while flats and maisonettes remain the most affordable segment, with average prices around £133,000.

For first-time buyers, the average property purchase is now around £177,000, a 5.2% increase from the previous year. Owner-movers, meanwhile, are typically paying closer to £229,000.

The private rental market in Nottingham continues to thrive. Average rents have risen to £976 per month — a 7.3% increase year-on-year. One-bed properties rent for around £707 per month, three-bed homes for over £1,000, and detached rentals for approximately £1,268 per month.

What’s Driving the Nottingham Market?

  1. Affordability and Demand
    Nottingham remains one of the most affordable major cities in the UK. This affordability is attracting a wide range of buyers, from first-timers to families and investors. Areas such as Carlton and Sneinton are particularly popular due to strong rental yields and good transport links.

  2. Regional Growth Prospects
    Nottingham is forecast to continue outperforming much of the East Midlands. Local agents and analysts expect annual growth of 3% or more for the foreseeable future, driven by ongoing demand and constrained housing supply.

  3. Regeneration and Infrastructure
    Regeneration projects, including the ongoing transformation of the Broadmarsh area, rumours of improved tram networks and new housing developments, are bolstering the city’s appeal. These improvements are helping to raise the profile of central Nottingham and nearby areas.

  4. Post-Stamp Duty Adjustment
    Following a surge in activity earlier this year due to stamp duty changes, the market has now settled into a more stable rhythm. Correctly priced properties continue to sell quickly, while overpriced listings are seeing longer time on the market.

Summer 2025 Snapshot

  • Average Nottingham property prices are in the region of £192,000 to £195,000.

  • Annual growth is around 4–5%, particularly strong in terraced and semi-detached homes.

  • Buyers have more choice and are often able to negotiate discounts of 2–3%.

  • Investor hotspots include Carlton, Beeston and Sneinton — areas with strong rental demand and capital growth potential.

For Sellers

If you’re considering selling your Nottingham home, pricing is key. At Benwell Daykin, we recommend setting realistic asking prices based on recent comparable sales. Well-presented properties at the right price are still generating strong interest, and many are receiving multiple viewings within days of listing.

For Buyers and Investors

Now is a promising time to buy in Nottingham. First-time buyers are returning to the market, and investors are capitalising on strong rental yields of 5–6% in certain areas. With a stable price environment and strong long-term prospects, Nottingham continues to offer excellent value for money.

In Summary

  • The UK housing market in summer 2025 is steady, with moderate buyer interest, ample supply, and flat to slightly negative price movement overall.

  • Regional and affordable markets, particularly in the Midlands and North, are outperforming more expensive southern areas.

  • Nottingham stands out with nearly 5% annual growth, strong rental demand, and increasing investment in infrastructure and regeneration.

  • It’s a buyers’ market in many respects, but sensibly priced properties are selling well.

Thinking of selling or just curious what your property is worth?

Contact Benwell Daykin Estate Agents today for a free, no-obligation valuation.

Call us on 0115 990 2007 — we’re here to help you make the most of your move.

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How to Sell Property Fast

Selling your home can take an average of 4 months from start to finish. However, the actual time frame can vary depenidng on a number of factors, including chain size, your solicitors, your mortgage and much more.

If you’re in a hurry to sell, even a single day can feel like a long wait.

To speed up the process, you need to be strategic. By taking the right steps, you can make your home more appealing and increase your chances of a quick sale. Here are ten top tips to help you sell your home faster.

1. Fix Any Outstanding Issues

Unless you’re marketing your home as a fixer-upper, buyers will expect a well-maintained property. Any minor defects—such as cracked walls, leaky taps or tired looking paintwork can make a home seem like too much work. Address these issues before listing your home to ensure buyers see it in the best light. Hiring a tradesperson for a few quick fixes could make all the difference. Additionally, check that all doors and windows function properly, patch up any peeling paint, and ensure appliances are in working order. A well-maintained home will appear move-in ready, making it more appealing to buyers. Buyers are also less likely to ask for a major discount if everything looks in good condition!

2. Enhance Your Curb Appeal

First impressions are crucial when it comes to selling a property. When potential buyers arrive, their initial reaction will be based on the exterior of your home. Clean the windows, replace missing roof tiles, mow the lawn and jet-wash the driveway. Even hiring a contractor to do this for you is worth the investment if it makes your property stand out on the street. A well-maintained exterior will draw buyers in before they even step inside. Consider adding potted plants, trimming the hedge, removing weeds from the driveway and ensuring outdoor lighting is functional to create an inviting atmosphere.

sell property fast

3. Declutter the Property

Over time we all accumulate belongings, but excessive clutter can be a major turnoff for buyers. When a home is filled with items, each room can look smaller and less inviting. Before taking listing photos or arranging viewings, declutter every room. Consider putting excess belongings in storage to create a more spacious and inviting atmosphere. A neutral, clean space will also allow buyers to project their own vision onto the property, making it easier for them to commit.

4. Choose the Right Estate Agent

Your choice of estate agent can make or break the speed of your sale. While online property portals are popular, they may not provide the personalised service you need. Look for an estate agent with in-depth local knowledge who understands the target market and can highlight the best aspects of your area. Pricing alone shouldn’t be your deciding factor—work with someone who is genuinely motivated to sell your home quickly and efficiently. Ask potential agents about their marketing strategies, their experience with similar properties, and how they plan to attract the right buyers.

Benwell Daykin is trusted by hundreds of buyers and sellers as a go-to estate agent in Nottingham. You can call us to chat about your property on 0115 990 2007 or by using our contact page.

estate agent nottingham selling property fast

5. Opt for a Neutral Decor

Buyers need to envision themselves living in your home, and bold or outdated decor can be off-putting. While some buyers might be willing to renovate, many will be deterred by features like floral carpets, retro wallpaper, or pink bathroom suites. Repainting with neutral colours can create a blank canvas, making your home more appealing to a wider audience. This simple update can also improve the quality of your listing photos and attract more interest. Stick to soft, modern tones like greys, whites, or beiges to create a light and airy feel that will appeal to a broad range of buyers. Also try to keep away from Magnolia, we’re no longer living in the early 2000s.

6. Be Flexible on Price

Pricing plays a major role in how quickly your home sells. While you naturally want to achieve the highest price possible, a willingness to negotiate can speed up the process. If selling quickly is your top priority, consider adjusting your asking price to make your home more competitive on the open market. This doesn’t mean undervaluing your property—just ensuring it stands out as a great deal for potential buyers. Keep an eye on market trends, analyse the competition and be prepared to offer incentives like covering closing costs or including furniture to sweeten the deal.

7. Maximise Your Viewings

Once you’ve prepared your home, it’s time to focus on creating the best experience for buyers during viewings. A deep clean—including carpets, upholstery, and surfaces—will ensure your home looks and smells fresh. If you have pets or small children, arrange for them to be elsewhere during viewings to avoid distractions. Additionally, leave a parking space available for the buyer so they feel welcomed rather than inconvenienced. Open curtains and blinds to let in natural light, ensure the home is at a comfortable temperature and add finishing touches like fresh flowers or lightly scented candles to create a welcoming environment.

8. Invest in Professional Photography

Your listing photos are the first thing potential buyers will see, so high-quality images are crucial. A professional photographer will know how to highlight your home’s best features, use the right angles, and capture lighting that makes your space look inviting. Avoid taking photos on a gloomy day, and ensure your home is tidy before the shoot. Great photos can attract more online views, increasing the chances of securing an in-person visit.

Professional photography is often included in your agency fee if you hire a good estate agent such as Benwell Daykin.

9. Utilise Online and Social Media Marketing

Beyond just listing your property on estate agency websites, take advantage of social media platforms to promote your home. Share high-quality images and engaging descriptions on Facebook, Instagram, and Twitter. Join local community groups where potential buyers may be looking for properties. You can also consider creating a virtual tour or video walkthrough to give potential buyers a better feel for the home before scheduling a visit.

10. Highlight Key Selling Points

Every home has unique features that make it stand out—be sure to highlight these! Whether it’s a newly renovated kitchen, a spacious back garden, great transport links or proximity to great schools, emphasising these selling points can make a difference. Ensure your listing description is compelling, and all your great property features are included on the online listing and in the brochure. Buyers will appreciate the extra information and be more likely to remember your home after multiple viewings.

large garden

Need Help Selling Your Home?

If you’re looking to sell your property quickly and efficiently, and for a great price, talk to Benwell Daykin today.

You can arrange a free property valuation today calling us on 0115 990 2007 or by using our contact page.

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Nottingham Property Prices Sumer 2024

UK house prices are growing again throughout the country.

The latest data for May, released at the beginning of June, suggest prices rose 0.4 per cent in the last 4 weeks. This data comes straight from Nationwide.

House prices have remained fairly static throughout Spring 2024, however a small rise in wages and a dip in inflation has meant prices are on an upward trend once more.

The average UK house price now stands at £264,249, compared to £261,962 in April.

Nottingham house prices in Summer 2024

When looking at Nottingham specifically, the average house price is now over £200,000. According to Hometrack, the official figure is £201,200.

This is a 4.9 per cent growth year on year and means that Nottingham house prices have had the biggest gains across the whole country in the 12 months leading to April 2024.

Benwell Daykin expects this rise to continue throughout the summer.

When focusing across Nottinghamshire, to include Ruddington where we are based, the average house price is higher at £238,322 according to Rightmove.

Looking at the data solely for Ruddington, this average price increased further to £333,957.

Mortgage rates for Summer 2024

According to Moneyfacts, the average mortgage rate for a 2 year fixed deal is current 5.29 per cent. This is up slightly on April 2024 which was 5.83 per cent.

The average rate on a 5 year fixed deal is now 5.49 per cent.

This rise is likely due to the Bank of England’s decision to keep the base rate at 5.25 per cent during their last meeting.

The general election and property prices

Many people are asking Benwell Dayking if there will be significant house price movements as a result of the general election.

Data has also been analysed from previous general election periods and it is safe to say that generally house prices are not affected.

How much is your property worth in Summer 2024?

The only way to find out accurately how much your property is worth is by asking an experienced agent, like us, to conduct a valuation.

Our valuations are free of charge with no obligation to use our services.

Simply call Benwell Daykin, estate agents in Nottingham, on 0115 990 2007 or use our house valuation form to get in touch.

 

 

 

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The surprising property type with rapid house price growth

It’s likely you will have heard reports that house prices have dropped over the last few months.

Although this is true in some areas, prices are beginning to rise once more according to Halifax. This is of course good news for home owners looking to sell or those looking to release some equity.

But there’s one particular property type with prices rising faster than anything else – flats.

With borrowing costs higher than they have been for a number of years, buyers are struggling to find affordable properties. This means they are now turning to smaller properties in an attempt to keep their monthly repayments down.

First time buyers in particular are looking for more affordable options and so they are turning to flats to purchase for their first home. The increase in demand is now driving prices upwards faster than most other property types.

Property prices will continue to rise throughout 2024

Benwell Daykin predicts that prices of other property types will soon rise as quickly.

There is now much higher confidence in the market with the highest number of mortgage approvals than any time in the last 18 months. Affordability, however, is still very much a problem for some and this could last for a while longer. It is expected that the Bank of England will keep interest rates at 5.25 per cent when they next meet on Thursday 9th May.

Benwell Daykin expects this to begin to drop by the end of the year, if not sooner.

So, there may still be some challenges in the market. However, if you’ve been putting off placing your home on the market, it now looks like activity is beginning to bubble once more.

Is it time you found out how much your house is worth in the current climate? The average Ruddington property price is now well over £300,000.

Talk to Benwell Daykin today on 0115 990 2007 to receive personalised property advice.

 

 

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Nottingham Property Prices Winter 2023

A property price increase

Today Nationwide have stated that property prices are on the rise once again.

Prices had dipped marginally in most areas of the country and many experts predicted there would be a further decline throughout the remainder of the year. Thankfully, this now appears not to be the case.

What about Nottingham property?

Nottingham has always remained one of the strongest area for housing price growth across the country. This year is no exception.

Despite decreases in almost every area of the UK, Nottingham hasn’t really been hit. Prices remain strong and growth has actually continued!

If we look at Hometrack’s data, Nottingham sits top of every major UK city for growth in the last 12 months. This stands currently at +2.9%. Sitting at second place is Birmingham at +2.7% and Sheffield with +2.3%. If we compare this to London, they saw a decline in the last year with -0.5%.

Looking short term, Nottingham prices increase in the last 3 months by 0.3%.

Why did property prices decrease in other areas?

Property prices have decreased slightly in 2023 mainly due to the rise in interest rates. This meant that more people were cautious when it came to applying for mortgages. As a result, less people were then looking for houses which brought prices down.

It is important to note however that it is only a small decline. Prices dropped across the board by just -1.1% in 2023. (Hometrack)

What is the average property price now?

The average home increased in price from £257,808 in September to £259,423 in October, according to Nationwide‘s latest house price index. This index is based on their own mortgage data but is very accurate as they are one of the largest UK lenders.

In Nottingham, the average property price is now £202,400. According to our trusted Nottingham mortgage broker, the average mortgage rate is now also just over 5 per cent.

Why have house prices generally increased?

Data suggests that many buyers have been holding off buying due to the rise in mortgage interest rates. Now it appears that they cannot wait any longer and have decided to purchase, regardless.

Other contributing factors include strong employment and a short supply of available properties.

What does this mean for home owners?

For those waiting to sell, you’d be forgiven if you were putting this off after listening to the national news.

Whilst we would advise anyone to remain cautious with the constant changing interest rates, now is definitely not a bad time to place your property on the market.

With the increase in buyer confidence now across the board we should see more people looking at every property and battling to make the highest offer.

How much is my property worth?

We can offer you a free, no obligation property valuation. Simply call us on 0115 990 2007 or use the form below.

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    House Prices STILL Continue To Rise Despite Economic Outlook

    In an astonishing twist of events, the UK housing market has defied all expectations by experiencing an unforeseen surge in house prices during June 2023. This unexpected upward trajectory has left homeowners, potential buyers, and industry experts astounded.

    The surprise monthly rise of 0.1% reversed a 0.1% fall in May and confounded economist forecasts of a 0.3% fall. It pushed the average cost of a house in the UK up slightly to £262,239. This is according to Nationwide.

    Two-year fixed-rate mortgage rates have continued to climb past 6% after the Bank of England increased interest rates by half a point to 5% in June in an attempt to curb stubbornly high inflation. The average two-year fixed deal edged higher again on Friday, to 6.39% from 6.37% the day before, according to Moneyfacts. The average five-year fix rose to 5.96% from 5.94%.

    Nottingham growth tops UK

    Nottingham property price growth still continues to outperform all areas in the UK according to Hometrack.

    In the last 12 months, property prices rose in the area by 10.9%. This means a £150,000 property grew to £165,000 in just 1 year.

    In the last 3 months alone, Nottingham property prices grew by 1.4%.

    The average Nottingham house price now stands at £198,000.

    It’s always a good time to sell

    Ready to see how much you have made on your property since purchasing?

    Get a free property valuation by calling Benwell Daykin today on 0115 9902007 or use the form below.

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