Growth Archives - Fife Properties
Fife Properties

Five Ways To Take Thousands Off The Value Of Your Home In Fife! (4 min read)

When does doing up your home end up doing yourself out of money?

It’s not the opening to a poor joke but a serious question we thought we’d answer for homeowners in Fife.

Not all home improvements add value to your home’s worth in the eyes of future buyers.

It can often be the reverse.

Here are five things to avoid if you do not want to de-value your property. Continue reading Five Ways To Take Thousands Off The Value Of Your Home In Fife! (4 min read)

How Are Property Priorities Changing In Fife? (3 min read)

2020 has forced us to make many changes in our lives, from home working, to self-isolation, it has created a time period for us to step back and re-think what is most important to us. As life slowed down many transformed their lifestyles and now need their homes to fit into this. This drive for change has already started to be noticed by agents and property portals, with a decrease in demand for the more vanity features and an increase in lifestyle practicality. Findings from a report released by the Royal Institution of Chartered Surveyors (RICS) have also confirmed the trends. Continue reading How Are Property Priorities Changing In Fife? (3 min read)

Savvy Storage Solutions For Fife Homeowners (3 min read)

Having a place to store your possessions is extremely important and can often get overlooked when property hunting. Being able to fit all of your possessions into your home whilst ensuring it stays neat and tidy can seem challenging at first. However, there is always a way to maximise your space no matter how small your living environment is. We’ve shared some of our super savvy storage hacks below to transform your home into a serene space whilst still being able to enjoy your prized possessions. Continue reading Savvy Storage Solutions For Fife Homeowners (3 min read)

Spring Selling Tips For 2020 In Fife: How To Prepare And Present Your Home For Prime Selling Season

Spring is usually the time of year when the largest numbers of buyers start registering with estate agents to find their next home. And with two long school holiday periods on the horizon – Easter and Summer – family friendly locations like Dunfermline, Glenrothes, Leven, Cupar, Kirkcaldy, East Neuk and St Andrews see a lot of property market activity.

Continue reading Spring Selling Tips For 2020 In Fife: How To Prepare And Present Your Home For Prime Selling Season

How Renovation Can Affect Property Prices

More than 9 out of 10 UK homeowners believe that renovations and decoration can increase the value of a property, according to the results of a recent survey.

The study conducted by Co-Op Insurance found that 91% of those asked thought the price of their home had gone up. It was also discovered that they believe renovation and decoration work were accountable for a £14,900 rise in the value of a property.

Continue reading How Renovation Can Affect Property Prices

Unemployment – The Secret Driver of the Fife Property Market?

If you have spoken to us on this subject previously, you will know that in the three years since the referendum of the ‘B’ word (that word is banned in our household), we have proved beyond doubt that it (whose name shall remain nameless) has had no effect on the Fife property market (or the UK as a whole).

So one might ask, what does affect the property market locally? Well many things on the demand side include wages, job security, interest rates, availability of mortgages, confidence in the economy, inflation, speculative demand … the list goes on. Yet as my blog readers will note, I like to delve deeper into the numbers and I have found an interesting correlation between unemployment and the number of properties sold (i.e. transactions).

Why transaction levels and not house prices? Well just looking at Fife house prices as a bellwether has flaws. Many property market commentators and economists believe transaction numbers (the number of properties sold) give a more accurate and candid indicator of the health of the property market than just house values alone. The reason is twofold. First most people when they sell also buy, so if property values have dropped by 10% or risen by 10% on the one you are selling, it would have done the same on the one you are buying – meaning to judge the health of a property market is very one dimensional. Secondly, the act of moving is very much a human thing. Property habitually conveys a robust emotional connection with homeowners – a connection that few would attribute to their other investments like their savings or stock market investments. Moving home could be described as a human enterprise, moving from one chapter of one’s life to another. When people move home, it shows they are moving forward in their lives and so this gives a great indicator of the health of the property market.

 

Looking at Fife’s figures on the graph, you can see an inverse relationship between unemployment and housing transaction levels.

Property transactions in Fife dropped by 55.6%, whilst unemployment in Fife rose by 54.29% during the 2007 to 2009 Global Financial Crash

Until recently, there has clearly been a relationship between conditions in the Fife job market and the number of people who move home … interesting don’t you think?

Now I am not saying unemployment is the only factor influencing the Fife property – but it has to be said there is a link.

 

As a country (and indeed here in Fife) over the last 40 years, we have seen a shift in the outlook over the purpose of housing and the development of the religion of following house prices (and I appreciate the irony of me writing these articles on Fife – feeding that habit!) Yet, when did owning a home turn from buying a roof over your head to an out and out investment vehicle? I do wish people would stop fretting about their intrinsic value being associated with their Fife home. Now of course, I am not dismissing the current levels of Fife house prices – we just have to take into consideration other metrics alongside them when judging the health of the property market locally.

 

One final thought, looking on a broader scale in the UK, those towns and cities whose property markets bounced back after the Global Financial Crash had high levels of employment and low unemployment whilst places with high unemployment and relatively low employment have, on the other hand, typically under performed.

So, the next time you are considering a house move or buying a buy to let property in Fife … don’t make your judgement on house price growth alone.

What Has Happened to the Fife Property Market Since the Crash?

A handful of Fife landlords and homeowners have been asking me what would happen if we had another property crash like we did in 2008/9?

The UK property crash in 2008/9 caused property prices in the UK to drop by an average of 18.37% in a period of 16 months.

Continue reading What Has Happened to the Fife Property Market Since the Crash?

Design trends to look out for in 2020

We’re moving into a new decade, and so the last thing that you want is for your home to look dated. Throughout 2019 we have seen some extreme trends in interior design; from the embracing of industrial elements to the resurgence of entirely neutral spaces. We have taken a look at what to expect this year and how to get ahead with your design aesthetic, whatever your budget.

  1. Colour makes a comeback

One of the key trends this decade has been that of neutral spaces with a few accent pieces to liven up the décor, however this year one of the main inclinations in design will be towards colour; bolder, brighter and braver! Rebecca Breslin, Wayfair Professional design manager, is calling for an end of “Greige, grey and all neutral everything without texture or visual interest” and therefore if you are looking for a change this year then start by adding colour into your home – burnt oranges and deep blues are set to be en vogue throughout the whole year.

  1. Paper set to tear up the market

A feature wall has been the mainstay of every makeover show and glossy magazine before-and-after shoot since the early naughties, however 2020 is set to end this fad. Rather than a singular wall that is adorned with wallpaper, we are going to see all four walls covered with paper – in line with the brighter aesthetic of 2020. Wallpaper has seen something of a renaissance over the past decade, with designs from Gucci and Dior all the way through to stick-and-peel examples flooding the marketplace, and this isn’t set to end this year. If you want to experiment, then start with smaller spaces such as studies, toilets and guest bedrooms where patterns will seem less overwhelming.

  1. Cabinet shake-up

The crisp, white kitchens that have been an enduring design staple over the last decade are set to move into retirement in 2020, with colour making its way back into the heart of the home. Kitchen cabinets, more specifically, are to become a real focus in kitchen design – therefore if you are looking to stay on-trend then think about rejuvenating your cabinets. Navy blue matte cabinets with vintage gold handles will transform your aesthetic immediately and mixes the traditional and vintage visuals that are set to be all the rage this year.

  1. Give art a start

In these modern days of mass production and consumerism, vintage art and antiques are making a huge comeback due to the perceived one-of-a-kind nature of the objects and that they possess their own unique story. If you are looking to make small changes to your home that make it chic, then adding some select pieces of art is a great start – adding pieces to your kitchen walls will add particular interest to an otherwise utilitarian space.

  1. Soften the edges

Throughout the 2010s, chicness has often been related to strong lines, sharp edges and minimalism, however as we move into the next decade this is set to be turned on its head for an altogether softer look. As well as a nod to 30s glamour (think metallics such as silver and gold, as well as scalloped seating) curves and fluid shapes are set to be popular this year; from circular side tables to rounded-edge sofas.

The £3.6 billion mortgage debt of Fife homeowners

Irrespective of the shenanigans and political goings on in Westminster recently, the housing market (for the time being anyway) shows a striking resilience, fostered by the on-going wide-ranging monetary policy by the Bank of England. With interest rates and unemployment low, UK plc is heading into 2020 in reasonable condition.  Additionally, despite the UK’s new homes industry Continue reading The £3.6 billion mortgage debt of Fife homeowners

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