Lincolnshire housing market: If you are thinking of selling your house and are not in negative equity, now could be a good time, explains Kate Faulkner.
Here in Lincolnshire, I doubt very much you feel you are in the middle of a “housing bubble”. Latest figures from the Land Registry suggest the height of the market for the area was November 2007 when average prices were £146,000 in Lincolnshire. The credit crunch crashed prices for several years to an average of £119,000 in December 2012.
January 2014 average is £123,785, just 2.5% higher than 2009, but 3% higher than prices were in 2012. With inflation running at +3% annually, anyone owning a property with pure cash will have seen property values decline in real terms. Fortunately a house provides a home, so nothing to really concern yourself about, unless you are an investor who should probably consider gearing via a mortgage to boost capital returns.
And the good news is price rises will hopefully continue. Land Registry data shows property prices have increased, on average, every month since July. Even better news for buyers and sellers is November 2013 data revealed 1,350 sales for the month. The last time we saw this number of sales was November 2007, before the credit crunch hit hard.
So, if you are thinking of selling and are not in negative equity, now could be a good time. All your local agents are desperate for instructions as demand increases while supply is low. The good news is commission rates are lower as agents compete for your business.
Plus, prices being static to rising slowly is good news buyers. You may pay a bit more than the lows we have seen, but better to pay a bit more and be relatively assured (its still not guaranteed though!) prices will rise.
With Help to Buy on new build and existing homes, (see my Help to Buy checklists) you can buy with a 5% deposit. As a couple, that just needs a deposit of £3,000 each. It’s never easy to save I know, but property and mortgages are at the lowest they will be for a while, so worth investigating.
From a rental perspective, Lincolnshire is doing well. Rents averaged £600 per month Q4 2013 (Belvoir Rental Index). Year on year though, rents are up 6% and have grown steadily over the last few years.
For tenants, this means it’s better to rent sooner rather than later so you can ‘lock in’ your rent level for the next year or so. From a landlord’s perspective, ideally you want rents to rise by about 3% each year (to keep pace with inflation) so a rise of 6% is great news.
Remember though, tenants want a home not temporary accommodation, so spend any extra income maintaining and updating your property to maximise rents and keep voids low.
A word of warning though, there are a lot of rogue landlords and letting agents. Find out which agents are NALs or ARLA registered (they insure your rent) and ensure landlords are RLA or NLA registered. Do this before you search for a property – if you don’t you could end up having all sorts of problems and potentially lose your deposit or rent.
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Kate Faulkner is Managing Director of propertychecklists.co.uk. The site gives free advice to consumers on how to measure their local market and an understanding of how to buy their first home or trade up. Kate’s background stretches from self-build to part exchange to buy to let and renovation. She is the author of the Which? property books and regularly appears on local and national media.
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The Lincolnite welcomes your views. All comments are reactively-moderated and must obey the house rules. Please stay on topic and be respectful of other readers.
Two men have died after a van crashed with a lorry on the A17 near Boston on Friday afternoon.
It happened shortly after midday on July 23, on the A17 between Bicker Bar and Wigtoft. The collision involved an HGV and a van.
A 46-year-old man and a 31-year-old man travelling in the van were pronounced dead at the scene, despite efforts from emergency services. Their families have been informed.
The driver of the HGV suffered minor injuries.
The road has been closed in both directions and will remain closed until at least 10pm on July 23, while officers carry out an initial investigation and recover the vehicles.
Lincolnshire Police are appealing for anyone who was in the area and may have witnessed the collision to contact officers as soon as possible.
Officers are particularly keen to see any dashcam footage which might have captured the vehicles prior to the collision, or the collision itself.
Detective Sergeant James Kirk from the Serious Collision Investigation Unit said: “This is a devastating incident for all involved and our thoughts are with the families of both men at this time.
“We are in the very early stages of our investigation, and we would be very grateful for any assistance that the public can offer us in piecing together what happened.
“Any information, no matter how small you think it might be, will be a great help.
“We would be keen to see any relevant dashcam footage or speak to anyone who witnessed the collision.”
If you think you can help with the investigations please contact police in the following ways:
A Lincolnshire distance runner selected for the 10,000m race at the Tokyo Olympic Games is looking to do his county and his country proud, but he’s already done that and more for his Grimsby-based parents.
The Lincolnite caught up with Helen and Bob Atkin, parents of Team GB Olympic hopeful Sam Atkin, who will be running in the 10,000m event at the Tokyo games, an event that Sir Mo Farah famously won two gold medals in at the 2016 and 2012 Olympics.
During an incredibly emotional interview, with tears of joy and pride from parents Helen and Bob, they reminisced about Sam’s introduction into running and the obstacles he had to face along the way.
Sam Atkin will be representing Team GB in the 10,000m race at the Tokyo Olympic Games.
Sam originally, and rather ironically, grew up playing as a goalkeeper in football, but it wasn’t until a cross country race at school where his true talents were realised.
Helen and Bob told The Lincolnite: “When he was 11, there was a cross country race at Healing school in Grimsby, and we told him if he finished in the top 10 we’d give him £100.
“There were some vey good runners out there, some who were training regularly, and Sam beat them by miles. We had parents looking around saying ‘wow, look at that boy so far in front!’
“That was the moment we knew he was special, we decided to sign him up for a running club straight after that.”
Sam is learning the game and is always studying tracks and trying to better himself.
Sam then joined Grimsby Harriers, winning every race he ran in, before eventually moving onto Lincoln Wellington at the age of 15 because he was getting so quick that he would win adult races.
While at Lincoln, Helen and Bob, who live in Grimsby, would have to drive Sam to and from training each day while juggling his school work and their own jobs at HMRC and Associated British Ports respectively, working flexible hours to support their son.
His dad Bob said: “We always knew he had talent, but it’s the unrivalled spirit and determination he has, you could almost call it stubbornness, which is just about the only thing I can claim he got from me!”
Sam moved to America when he was 18 and hasn’t looked back since.
His next big step came at 18-years-old, when he was offered a scholarship in Idaho in the United States of America.
Sam currently lives and trains in Idaho, meaning his contact with his family has been limited, particularly due to the COVID-19 pandemic.
Success appears to run deep in the Atkin family, as Sam’s twin sister Jen is the reigning Miss Great Britain.
Sam Atkin will represent Team GB in the 10,000m race at the Olympics in Tokyo, but it all started in Lincolnshire.
Helen said that the twins were huge parts of one another’s careers and successes, thanks to the “special bond” they both have.
Sam qualified for the Olympic Games in dramatic fashion, after narrowly missing out on the 5,000m qualifying time, which is his preferred event, but then went on to run the now 5th fastest 10k in UK history.
Sam nearly missed the call up to the Olympic squad entirely after changing his phone, but in a rather poignant sequence of events, he found out the news while back at home with his parents.
The biggest stage of Sam Atkins’ career is just round the corner.
Bob explains: “He got a new phone number, but the Team GB selectors had his old number so they couldn’t get through to him. Eventually his agent was contacted and he let Sam know, but Sam didn’t tell us for 30 minutes! We were stunned into silence when he told us.”
His heat run will take place at 12.40pm on Friday, July 30, and Sam’s parents will be watching the race from home, but in different rooms!
“We both get very nervous watching Sam run,” Helen explains. “When we went to events with him I’d be at one end of the field and Bob would be at the other end.”
He chased the dream and now he can achieve it.
Sam is set to be the only self-funded runner of the 29 competitors in the event, giving him an underdog status that his dad Bob says he thrives under.
“It’s like Grimsby Town being chucked into the Premier League, it sounds negative but trust me it’s not, wherever he finishes he’ll make us proud.
“When he was younger we just used to tell him to run as fast as he can, now that he’s reached the top level, the advice gets tougher, so we sent him a message to go with his Team GB kit that just read: ‘Keep your head up and get on with it’.
“We cannot express the pride we feel for him, it’s all too much to be honest with you. Make no mistake about it, he’s earned his way there and he deserves this so much.”
The second mural as part of the Sincil Bank Art Project has been completed, showcasing the famous Lincoln Star Clematis from the 1950s and spreading positivity in the process.
The Sincil Bank Art Project is a community scheme in which various artists will paint murals onto walls in the Sincil Bank area of Lincoln.
The first project, a portrait of Lincolnshire-born physicist Sir Isaac Newton, was completed by French street artist Zabou on the corner of Sincil Bank and Kirkby Street in April.
Sophie Mess, stood by her triumphant mural at Trollope Street in Lincoln. | Photo: Steve Smailes for The Lincolnite
The latest mural has come from another globally renowned artist, this time in the form of Sophie Mess, who was recommended for the project by Zabou herself.
Sophie Mess took over four days spray painting the mural. | Photo: Steve Smailes for The Lincolnite
Sophie’s ‘Project 002’ design at Trollope Street took four and a half days, and depicts the Lincoln Star Clematis, a flower first bred in the 1950s by Lincoln-born botanist Walter Pennell.
On the mural there are the words “Shine Bright” which Student Housing director Harry Conti told The Lincolnite was done to spread a message of positivity in the area.
The mural stands tall at Trollope Street in Lincoln. | Photo: Steve Smailes for The Lincolnite
He said: “We’re hoping these murals will bring more people to the area and already we’re seeing the difference. People are stopping or detouring on their journeys just to look at the two murals, it’s amazing.”
Sophie spoke with pride when discussing her mural and the reaction it has got, stating that the positive messages and the joy it brings to people is “exactly what it’s all about.”
Hannah Dines is the owner of the property the mural is painted on, and says she couldn’t resist suggesting her house for the project.
Sophie is delighted with the end result and said she was honoured to be a part of the project. | Photo: Steve Smailes for The Lincolnite
She told The Lincolnite: “Having seen project 001 and Zabou’s wonderful creation I contacted The Sincil Bank Art Project and offered my wall for a future project.
“I’ve been lucky to grow up in a creative arts environment, and love art in all its forms. I’m also very community based; I really enjoy sharing, supporting and getting involved in local projects.
“Sophie’s artwork is incredible and she’s been such a pleasure to have here – giving me updates and being just super chatty and friendly. Her work ethic and artwork are both awesome and I’m so glad she agreed to create a piece of her work in Lincoln.
“I feel truly humbled and so very lucky to have such an amazing piece of art on the side of my house – it’s surpassed all my expectations, size, style, colour, wow factor! I had seen the design before Sophie arrived but never expected the final result to be so stunning.”
The Lincoln Star Clematis is accompanied by the message “Shine Bright”. | Photo: Steve Smailes for The Lincolnite
For future plans, the SBAP is hoping to have up to 30 murals in the Sincil Bank area within the next five years, which would eventually lead to an interactive trail of them all, using QR codes.
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