De-clutter, depersonalise and disinfect — follow this three-step programme and you will find a buyer for your home. Lately, however, this age-old adage has been called into question. While it may still be essential to put on the Marigolds and scrub, wiping away all traces of your existence may be a mistake. Instead you need to convey an idealised version of that existence. If you need a guide to the image you should present, study the pictures in the Boden, White Company and other catalogues with their scenes of elegant, yet wholesome socialising in well-lit and accessorised domestic settings.
Behind this new thinking on home presentation lies the puzzle of family houses that simply will not sell, despite the shortage of this type of property. Many are simply overpriced: RICS’s October canvass of its estate agency members indicates that owners may be forming inflated ideas of what their homes are worth, inspired by the market’s more confident tone.
A larger number of people may be vying for the few houses available. But they are competing for the top-grade pads. Even in Primrose Hill, that smart yet bohemian North London neighbourhood, Robert Green, of John D Wood, the estate agents, says that “compromised property is proving harder to sell”, while “well-positioned, configured, priced and presented stock” is changing hands at 2007 prices. ‘ Compromised is a nice euphemism for unattractive and poorly located. But such is the affection in which most owners hold their home they cannot see its defects. This failure to recognise that a flight to quality is the market’s key characteristic is thwarting the plans of many who had hoped to relocate by Christmas.
In some cases, however, it’s not so much overpricing as poor marketing that is causing some houses to be shunned. Estate agents say that families who come to view these homes often cannot see themselves living there, as we report on pages 8-9. It seems that while a neutral decor will always be desirable, neutral is not synonymous with bland and uninviting. A house that lacks the (super)human touch may not even attract those who are casually reviewing what’s on offer online. As there has been a recent jump in traffic to property websites, anyone who wants to sell by Christmas should use this opportunity to objectively review whether the pictures of their home show it in the best light.
In the past week Marks & Spencer and other retailers have launched their Christmas advertising campaigns; these feature festively decorated houses at their most warm and welcoming. These scenes will tend to make many buyers inclined to stay put and postpone househunting until early 2010. In sellers, these advertisements should produce a sense of urgency. Why? Because the market is forecast to pause for breath in the months leading up to the election and prices are expected to dip for the year as a whole, before rebounding in 2011. Who wants to wait that long?
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Time for a rent rise
The Bank of England has raised its forecasts for economic growth for the next two years. However, commentators are still predicting that the housing market will slow next year as the nation turns its attention to the election. This does not relieve the Government of the responsibility to do its utmost to stimulate the market, with the consequent benefits for the wider economy.
In his Pre-Budget Report on December 9, the Chancellor should extend the stamp duty holiday on properties up to £175,000. He should also help homeowners struggling with their mortgages by raising the rent-a-room concession from £4,250 to £9,000. As Shelter, the housing charity, points out, this sum — the amount that you can earn tax-free from taking in a lodger — has remained unchanged since 1997. Since that time the average rent has risen 113 per cent — a clear-cut argument for change.
The bow-wow factor
In our constant quest for extraordinarily large — or small — houses, Bricks & Mortar has never featured a home for man’s best friend. So this week we give you an example of the range from Best Friend’s Home. This German company’s hand-made products come in various styles, including Bauhaus (below) for which prices start at £3,432. If early German Modernism is not your architectural thing, there’s also Deep South Mansion.