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In the second of our most recent interviews we caught we author of Alderley Edge Property Blogger Katie Orr and this is what she had to say. We'd like to thank Katie for taking part and letting us know her expert views on the current property market.

Can you tell us about yourself and how you got into your current role and what you like about your job?

 Of course, I am Katie Orr author of Alderley Edge Property Market, CEO and founder of KO Estates. Having always been interested in property I started my journey online writing a blog all about my local market.

 This along with other social media platforms including Instagram, Facebook and email marketing allowed me to provide helpful information for others in the area.

This helped to establish myself as a leader in this field which lead to people reaching out to me for help with property sourcing, home finding, property management and sales. I then decided to run with this momentum and founded KO Estates.

 A house is one of the biggest investments most people make and I honestly love being able to be part of my client’s journeys. I love my job and I am grateful I have been able to create an income from something that just started as a passion for me.

What is that your company currently does and what sets them apart from their competitors?

We are a property management agency, what makes us different is our mission and values…

“Everything we do is driven by our mission to improve the quality of living.

We exist to provide the greatest possible service to our customers and deliver excellence.”

I personally live by the motto “the secret to living is giving” Which is why for every home we manage sponsor a young homeless person to have somewhere to stay too, it’s a charity I deeply believe in. It was so important for me from the start to incorporate a giving pledge. I know our industry unfortunately does not always get the greatest reputation and it was important for me to create an ethical company where we can give back.

Knowing our work can make a real difference drives us to provide a better service for our customers by adding tremendous value, providing the best service and over delivering so we can have a greater impact on our community.

How has Covid-19 affected the company?

 COVID 19 affected everyone in some way whether that was financially, emotionally, physically. So as a company we had to adapt to the new environment, our main priority was our customers and we recognised early on our customers needed more support than ever. This really meant more communication, we provided as much information and clarity as we could to our customers. As and when the rules started to change, we helped our clients understand what it meant and how it would affect their personal situation.

 This extra support and increased communication created a sense of community and helped us to build really great relationships with our customers. They really appreciated the time we spent in helping them to relieve any stress they were facing during this time.

 COVID was not all bad news as it positively affected our plans for our future. Lockdown highlighted to us that our proximity to the properties we manage is not as important as we once believed it was and with the advances of technology Physical location does not have to determine our customer base. This has helped us create some really exciting ideas for expansion.

 What would you say your local property market is like at the moment?

Busy! And it is great to see, there is a lot of movement at the moment which has been helped by the waived stamp duty holiday and the built-up demand from lockdown. With the increased activity we are finding houses are being sold and let out much quicker than normal so it can really help if you are in a position to buy.

Can anything be done to help the property sector at this moment in time?

The governments scheme was a great initiative to really kick start the industry. I would personally like to see the March cut off extended so that we will continue to see the rewards

Do you think Covid-19 will have a lasting affect on the property market?

Short term absolutely despite governments efforts inevitably the property market as every other market will take a hit and we can already see property values decreasing. I think we are yet to see the real effects of COVID on the property market as we are all still adapting to a new normal. People have found they don’t need to live near offices (major cities) because of working from home so I predict we see a shift from city living and people opting to move a bit further out. Unfortunately, a lot of business are struggling which mean further redundancies which again has a huge impact on the industry.

Having said this ultimately, I have every confidence the market will come back to be as strong as it was. As we saw in 2008 the economy will recover. I think it’s really important at this time to not fear the market but instead see it as a great opportunity for investment

Where do you see yourself and the company this time next year?

We have big plans for the next year I want to see our impact expand. We are shaking up the tradition methods of property marketing we want to integrate modern technology and utilize the power of social media to become one of the industry leaders for our area. So, keep a look out for the things we have coming up.

Katie Orr

Want to keep up to date with Katie's blog? You can find it here www.alderleyedgepropertymarket.com or her Instagram www.instagram.com/alderleyedgepropertymarket/?hl=en


What is the stamp duty holiday? 

The Chancellor Rishi Sunak announced a measure that could save the average home-buyer over £2,000. It means that buyers of homes across England and Northern Ireland, valued up to £500,000 will no longer pay stamp duty. Rishi Sunak stated at the time he hoped this would see a kick start in the property market and as you can see below it seems to be working. 

According to figures released earlier this month the average cost of a home in the UK is 5% higher than it was this time last year, which is an acceleration 3.7% in the previous month. 

Looking back over recent years prices have not risen that fast since the same period of time in 2016, this if you remember was immediately after the Brexit referendum 

The pent-up demand that was created during lockdown has created a wave of activity through the property market, mainly people deciding they need a bigger property, this was encouraged by the stamp holiday. 

Mortgage providers all across the UK are saying the same thing, we’re seeing a mini-boom of people looking to push property purchases over the line that they current do during lockdown and many taking advantage of the stamp duty holiday. 

What does in mean for properties over £500,000? 

They will remain pretty much unchanged; the stamp duty holiday will remove the 2% band but the 5% and 10% slices will remain the same. 

Peregrine Property 

If you are looking at up-scaling the size of your property in the Wakefield and Hull areas then we are the estate agents for you. We’re a team that prides ourselves on not only expert knowledge but our outstanding customer service. 

To find out more on just how we can help you, use our online contact forms on call us directly.  

Of course, we don’t know if the country will go into a second lockdown but we do find ourselves asking the question, what if? The demand for properties across the country since we eased lockdown measures has risen dramatically, RightMove even reporting a 2.4% increase in asking prices. 

This boom could be short lived as it’s unlike a standard economic boom which occurs by growth over a period of time. It could be a short-term boom caused by the stamp duty holiday. This mini boom is potentially unstable and open to being volatile unlike a boom caused by years of growth and foundations being put in place. 

Does this mean if we are placed into another lockdown would house prices begin to drop? 

Some of the financial impacts caused by the last lockdown was how quick it all happened, meaning industries such as that of the property market could not take relevant steps and measures to lessen the impact a lockdown imposed meant. Hopefully now the government has learnt a few lessons and we’ll be able to adapt and have some preparation time. 

What could the impacts be? 

  • Less property viewings – A restriction on viewings would of course have a huge impact on the property market. Most of us would like to view a property before submitting an offer. Virtual viewings could be something we see more and more of, but are viewers going to feel the same impact a viewing in person could have? 
  • Potential viewers could be made redundant as companies across the country face greater financial troubles, meaning less buyers being able to prove a long-term income. Mortgage lenders could see this a risk factor. 

The process takes longer 

Selling a property is one thing, getting the sale done is another, a second lockdown could potentially see more people being placed on furlough or working from home. This will affect time-frames of the process as estate agents, mortgage lenders and solicitors have an increased workloads and harder communication processes taking place with everyone involved working differently to how they have ever before. 

Peregrine Property

If we are placed into a second lockdown or not here at Peregrine Property one thing, we pride ourselves on is our customer service and honesty, we’re here to support you all the way with our expert knowledge we’ll be able to advise you with the best options available for you. 

To find out more contact us online or call us directly. 

Interior designer yorkshire

In this weeks blog post we caught up with Kelly Bell an interior designer covering the Yorkshire region, we caught up with Kelly to find out more about her and her business, covering how Covid-19 has affected her and where she sees the property market.

Can you tell us about yourself and how you got into your current role and what you like about your job?

I started in the Industry at the age of 18, working a large Architectural practice in Leeds as a Interior Design apprentice, I attended Leeds Art College part time whilst I learnt my trade working on live projects, I was very fortunate – this doesn’t happen anymore!.

I worked on various projects including Hotels, Hospitals, Leisure projects, residential developments and lots of commercial office interiors.

It soon became apparent as years went by that I was a very creative leader within the businesses that I worked in, this lead me into the Creative Design director job Roles. I then became an integral part of the Leeds property design hub, working and creating new residential and commercial schemes that were all design lead and very forward thinking. I love to push boundaries in anything I'm involved with, which includes creating new business ideas and inspirational design through to unique and outstanding homes. Unlike most Interior designers, I do not only specialise in one sector, I have 23 years’ experience in so many sectors, I have been fortunate to work on amazing projects, I like to blend all the environments, material and products into each other.

What is that your company currently does and what sets them apart from their competitors?

We are Interior experts, we cover all elements of Interior design for both residential projects and commercial projects. I am from a fit out background, I love to refurbish and thrive on challenging buildings and spaces.

I believe our experience, friendly and honest approach to projects helps us gain our great reputation, However what stands us out from the crowd is our innovative way that we approach design, and as we are design and build experts, we are very commercially minded, we know what things cost to build and furnish – we are creators… yet keep it real !

How has Covid-19 affected the company?

It has effected every business in some way, shape or form, some positive and unfortunately not so good for others. For Kudos ID we have gained much more residential projects to work on. Commercial organisations are re thinking and strategizing as they are unsure of what the market place looks like and what the future of the workplace will be.

What would you say your local property is like at the moment?

I live in North Leeds and have seen a lot of sale activity within the residential market, which is very positive. I have seen however the commercial market dip, which is understandable. The retail buildings are becoming more empty as the high streets suffer further. I think the out of town office parks that were once dying will possibly now come back to life as people want to travel more freely, flexible working is now the buzz word. The property market will shift and mould to the new demands of how we now live and work thanks to covid.

Can anything be done to help the property sector at this moment in time?

I think the government are trying to help and come up with new planning conditions, new permitted development rules etc which impacts retail buildings and adding extra levels to existing buildings. This shows they are trying to promote development.

We are now living in uncertain times. Blue sky thinking is needed by everyone within the property market.

Do you think Covid-19 will have a lasting affect on the property market?

Yes, absolutely!. We are now tech ready, working from home experts. We can even home school and juggle our lives at the same time. Employers have had no choice but to trust their staff and encourage flexibility. This means we have new demands on our homes and our workplaces. Home study rooms will become a must moving forward. We have proved we are just as effective working from home as we are in a crowded office, we have proved that no matter what generation we fall into we can all now use zoom or similar and have been forced to embrace technology. I think the homes of the future will become more technology and workspace friendly. I think workplaces of the future will be less populated, smaller floor plates , yet more collaboration spaces and tech ready.

Where do you see yourself and the company this time next year?

As everyone else out there at the moment, we are remaining lean and pushing through and upholding our creative and honest reputation. We look forward to more collaboration with the property world. We have some amazing projects coming up next year that will keep us busy!. The main thing for me personally is that we keep creating great spaces for everyone to love.


Kudos ID

You can find out more about Kelly and her company Kudos ID here www.kudosid.com.


shared ownership

Earlier this year the government pledged to invest £12.2 billion into increasing affordable housing all across the UK which includes Yorkshire & the Humber. There are a number of objectives one of which was to introduce a new shared ownership model, helping more first-time buyers onto the first rung of the property ladder. But what exactly is shared ownership?

You will find that shared ownership is an alternate to the more traditional approach of purchasing a property, you don’t take out a mortgage for the full purchase price, instead you buy a share of the property, the size of the share can vary. This means each month you pay some mortgage and the remainder of the share of property you don’t own you will pay rent.

There are pros and cons of a shared ownership property, these include:

  • Shared property deposits are normally a lot lower than when you take out a full mortgage, if you don’t have much readily available funds this is a viable option for you.
  • You can sell the share of your property at any time back to the housing association you bought the property from.
  • Added security is provided as normally you will find that shared ownership properties are leasehold.
  • Overall costs can still be expensive, even though your mortgage payment is small, you will still need to make rental payments, ground rent, stamp duty on the cost of the home and leasehold fees, be sure to check everything.

Shared ownership is only available to first time buyers, or if you used to own a home but can’t afford to buy one anymore, lost your job or have recently become divorced.                                                                                                                           

The Investment of £12.2 billion from the government will be up until 2026 with the plan to provide 180,000 new affordable new homes.

So, what are the main changes?

  • Minimum share of the mortgage will reduce from 25% to 10%
  • You can increase your share by 1% at a time rather than 5%
  • New shared owners will have a 10-year period where any repairs will be covered by the landlords.

If you have any questions about shared ownership get in touch we’ll be happy to explain the advantages and what to look out for in shared ownership.

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