As the day’s draw closer to the clocks going back on October 30, you can definitely feel a crispness in the air – autumn is well and truly here.
The season of conkers and walking through crisp, fallen leaves is definitely a good time to be selling your home.
The property market is still buoyant and with Christmas literally just around the corner, people are keen to get transactions underway and sorted. They may even be time for those who want to to move in and celebrate their first yuletide gathering under a new roof.
With many years experience helping people to sell their homes at this time of year, Manager Lizzie Burt has these top tips:
The South Coast’s biggest running event, the Great South Run, comes to the streets of Portsmouth next weekend and thousands of runners will be taking part and raising money for good causes.
Our island city is ideal for such a major running event and it has the added advantage of being relatively flat (although running along the seafront can be hard work if it’s a blustery old day).
On Saturday Oct 16 there will be a 5k event and Junior Mini Great South Run event before the 10 mile event takes place on Sunday Oct 17.
There’s always a great atmosphere and participants of the Great South Run get to complete a course that takes them past the historic HMS Victory.
Directors Neil and Susan Shaw have taken part in the London Marathon in previous years. Susan was due to be there this year but injury forced her to re-think and she will now be taking part in 2022.
The city also hosts an annual Race for Life event in aid of Cancer Research UK and Chinneck’s have entered a team in this popular event too.
And to keep you in shape for the Great South Run, there are regular Park Run events (you might even see Managing Director Neil Shaw and Property Consultant Tim Bourne there).
Whatever your preference for running be it marathons, 10ks or just running for the bus, living in Portsmouth is the perfect place to pull on your running shoes and make the most of the wonderful place we call home.
Today (Friday October 1) Stamp Duty levels will revert to pre-holiday levels with the property price threshold returning to £125,000 or £300,000 for first-time buyers.
It’s fair to say that the Stamp Duty holiday gave a much needed boost to the property market after lockdown caused a slump in the housing market.
The stamp duty holiday was introduced in July 2020 and extended again until June 30 2021. It meant buyers purchasing a property for less than £500,000 before July 1 2021, paid no Stamp Duty and from July 1 to September 30, it was payable on the cost of properties above £250,000.
The Government introduced the holiday to help people feel more confident about buying and selling – and it certainly seemed to do the trick. The Office for National Statistics (ONS) reported the average house price in England rose by 8.0% to £256,000.
Even with the staged re-introduction of Stamp Duty payments, the property market has remained buoyant and Manager Lizzie Burt is confident there will be sustained growth in the market into 2022.
“We were inundated with interest every time we put a new property up for sale at the height of the Stamp Duty holiday and the interesting thing is, we are still dealing with multiple buyers for each property and the phones don’t stop as soon as we put a property live.
“More stock would be good to be able to match the interest from potential buyers. Looking ahead, we are anticipating 3.9% growth in 2022,” she said.
With the UK property market continuing to perform at record levels, opportunities for investors can be found in both residential and commercial. But the question remains the same – where should I invest my hard earned money?
According to experts both markets are continuing to perform well despite being impacted by the pandemic.
While a commercial investment may offer a higher yield, the recovery timeline as a result of the pandemic is set to be far longer than the residential rental market and residential property investment remains by far the dominant force when it comes to availability, affordability and total sector value.
Chinneck Shaw Property Manager Joe Rocks said: “As with all these things, a balanced approach offers the best return for a property portfolio holder.
“However we would always encourage people to look at residential over commercial.”
The latest major industry survey seems to back up this position too. The State of the Lettings Industry Report from Goodlord and Vouch provides a temperature check of the market and involved 550 agents and 1,700 tenants.
Their report highlighted tenants are reporting strong signals of confidence around their finances.
The vast majority – 81% of tenants – said the pandemic had no impact on their ability to pay rent in the past year and the majority believe their finances are secure.
Most tenants predicted they would be staying in the rental sector for many years to come. Less than half of tenants said they would expect to own a property within five years.
We are proud to be supporting Gas Safety Week 2021, taking place 13 – 19 September. Gas Safety Week is an annual safety week to raise awareness of gas safety and the importance of taking care of your gas appliances. It is coordinated by Gas Safe Register, the official list of gas engineers who are legally allowed to work on gas.
Badly fitted and poorly serviced gas appliances can cause gas leaks, fires, explosions and carbon monoxide (CO) poisoning. CO is a highly poisonous gas that can kill quickly with no warning, as you cannot see it, taste it or smell it.
Landlords are legally responsible for the safety of their tenants. Landlords must make sure maintenance and annual safety checks on gas appliances are carried out by a Gas Safe registered engineer to ensure their tenants and wider communities stay safe.
If you’re a landlord, you are legally obliged to make sure:
Before any gas work is carried out always check the engineer is qualified to carry out the work that needs doing e.g. natural gas, domestic boiler. You can find this information on the Gas Safe Register website or by checking the back of the engineer’s Gas Safe ID card. Encourage your tenants to also check the card when the engineer arrives at the property.
For more information and to find or check an engineer visit GasSafeRegister.co.uk.
The lettings team at Chinneck Shaw continue to ensure clients properties are fully compliant in ever changing legislation and routinely organise Gas Safety Checks as part of our fully managed service. If you have any questions regarding Gas Safety or our fully managed service, please do not hesitate to contact us.
According to Propertymark, the UK government has today confirmed that notice periods will return to pre-Covid lengths in England from October 1 2021.
All notices were increased to six months for most grounds including Section 21 notices (with exemptions for some serious cases) as a result of the pandemic and the introduction of the Coronavirus Act 2020
Since 1 June 2021 until 30 September 2021 notice periods must be at least four months in most circumstances apart from exemptions for the most serious cases. Notice periods for cases where there are less than four months of unpaid rent, reduced to two months’ notice from 1 August.
Property Manager Joe Rocks, said:”This announcement will be welcomed by many landlords across the country. Of course landlords and agents sympathise with those tenants who have genuinely struggled during the coronavirus pandemic, unfortunately there are a minority of tenants who have taken advantage of the pandemic and some landlords are tens of thousands of pounds out of pocket.
“With the changes of the notice periods back to pre-Covid levels it means that the landlords can minimise the delay in starting legal proceedings against tenants. With the Renters Reform Bill on the horizon expect further consultation and changes to notices and notice periods.”
The changes mean that for a Section 21 notice it will revert back to 2 months notice and a Section 8 notice will return to 14 days notice for tenants who owe 2 months or more rent arrears.
An unexpected rise in house prices in August saw them go up 2.1% month-on month, the second largest gain in 15 years according to experts.
The Office for National Statistics reported the average value of a UK home went up 13.2% between June 2020 and June 2021 and the UK House Price Index said the average house price in the UK was £265,668 as of June 2021 .
While the Stamp Duty Holiday had a lot to do with encouraging people to move, the race for more space to allow for working from home has also been a contributory factor to the positive housing market in Portsmouth.
“We are hearing all the time that people are looking for more space to accommodate their new working patterns. More people are adopting hybrid ways of working that will see them spending some time in the office and also working from home a couple of days a week,” said Manager Lizzie Burt.
A recent article by Which magazine is forecasting that prices will remain high due to the lack of new properties coming to the market.
And Mark Hayward from Propertymark says we remain in a strong seller’s market.
“In Portsmouth the market remains strong,” added Lizzie.
We are counting the hours until the start of Victorious Festival and plenty of fun in the sun this Bank Holiday weekend.
A well deserved finalist in the UK Festival Awards for the best family festival, Victorious helps to showcase the city both nationally and internationally.
Thousands flock here to listen to bands and enjoy the vibe of one of the coolest metropolitan festivals in the UK.
No other festival can boast a seaside stage that overlooks the comings and goings on the Solent and the festival team certainly make the best use of the Common as they bring a stellar line-up of music, comedy and style to the city.
As well as being a great way to unwind after such unsettling times, the festival provides a major boost economically to the region and raises funds for good causes.
Since 2014 when the festival started, £310,000 has been given to 40 charities.
In 2019 the economic impact was estimated to top £12.5m including the value of contracts and crew bed nights.
Victorious Festival annually supports 154 full time equivalent jobs and the highest spending festival-goers remain overseas overnight visitors spending on average £488 per person.
“Great for the city on so many levels, we love Victorious because it brings people together in a safe environment and it helps showcase the city we love.
“The festival brings great entertainers to our city and really is a wonderful excuse to let your hair down and soak up the atmosphere” said Manager Lizzie Burt.
Picture credit: James White
Our property management team gets to work with a fascinating array of owners and George Langton is a case in point. He has a passion for the past and the two properties that he owns in Eastney are steeped in local history.
The former Cumberland Tavern and the site where the famous Birdcage Club once stood are now home to flats managed by Chinneck Shaw.
George explained: “The Cumberland Tavern dates back to 1937 and it was one of five or six large pubs built in Portsmouth including the Good Companion and one in Granada Road in Southsea. During the Second World War, Canadian soldiers were billeted in Bransbury Park and they used to use the clubroom at the back of the pub.”
“When the clubroom was demolished and the panelling was taken off the walls, we found cut throat razors that must have been hidden there during a police raid or something.”
The Birdcage Club is still talked about in reverential tones more than 50 years after the last band played there. The Who, Pink Floyd, Rod Stewart, David Bowie and Jimmy James and the Vagabonds are just some of the musical greats who graced the stage.
In just two short years from 1965 to 1967, the club became a magnet for bands on the rise and the venue drew crowds from across the city. Sadly the building eventually burned down. Joseph Court now stands in its place – and a blue plaque reminds us of its remarkable place in music history.
As a man with so much time for the past, it seems only fitting that George chose Chinneck Shaw to manage his 18 flats.
“They are one of the oldest firms still trading in Portsmouth and I am very happy with the way they look after my properties.
“I’ve always been fascinated with the history of Portsmouth and its buildings – you learn something new every day,” he said.
Thank you to Nigel Grundy for the photo of The Birdcage and to find out more about Portsmouth’s music scene go to www.portsmouthmusicexperience.org.uk
As one of Portsmouth’s oldest established firms, we have enjoyed a long and important relationship with Portsmouth Football Club.
Founder of the firm back in 1883, James Steele Chinneck, was also a director of the football club from 1938 to 1951 before becoming Chairman at the time of the second title win in 1950.
He was famously photographed sat next to Field Marshal Montgomery at Fratton Park with Portsmouth FC’s championship winning side of 1948 to 1949.
Mr Chinneck was chairman of the club, while ‘Monty’ was president and still in his pomp after his decisive role in D-Day and the Allied victory in the Second World War.
The years under Mr Chinneck and Montgomery are remembered by many Portsmouth fans as the glory days. The club went on to claim the Division One title for a second consecutive season in 1949- 1950 as well as the Charity Shield in 1949.
“It’s such a great photograph and it still makes me feel proud when I see it,” said Neil Shaw, who runs the business today.
“The football club is so important to Portsmouth – it is the heartbeat of the city and our association goes back to what many see as a real high point for the club.
“When I look at that photograph I can see individuals whose families to this day we still act for – there is a huge amount of history between us.”
Over the years there have been many other links too – Mick Williams who helped to save the club when it nearly went into liquidation in 2012-13 is a client and Touchline Tony – the voice of Fratton Park – is a contractor Chinneck Shaw calls on for repairs.
A keen player himself and an even more ardent football fan, Neil explained the close ties with the club remain to this day.
“For the past five years we have proudly sponsored a member of the women’s team and we are currently sponsoring defender Hayley Bridge,” he said.
Earlier this year when Chinneck Shaw were busy rebranding, they made sure to include a reference to the club they hold so dear.
“Over the years we’ve had many different connections and the ties are still as strong. When we had our recent re-brand, we made sure that the artwork in our meeting room reflected that strong association.
“The message in the flags reads ‘Play-up Pompey – the famous Pompey Chimes, ’” he added.
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