The Latest News from Wood & PilcherĀ 

The Latest News from Wood & PilcherĀ 


In this newsletter, we look at the latest developments in the Tunbridge Wells property market, as we begin to see the pent-up demand that was previously caused by uncertainty around Brexit bolster the market.

We bring to you a very special property of the week, give you an insight into our Southborough team and analyse the Tenant Fees Act now that the legislation has been in place for 6 months. 


Markets in Tunbridge Wells

Towns and villages throughout the borough of Tunbridge Wells enjoy the benefit of Mother Nature’s bounty at a number of regular farmers’ markets.
 
 
7th March 2020
 

Click here to read Markets in Tunbridge Wells.



Wedding Open Day

If you are currently planning your wedding and looking for a beautiful venue with 36 acres of beautiful gardens, woods, parkland, then Salomons Estate is the perfect location for your special day.
 
 
8th March 2020

Click here to read Wedding Open Day.



Holiday and Leisure Show

Plenty of inspiration for making the most of holiday and leisure time with some fabulous ideas for days out or where to go for a relaxing beach holiday, cultural city break or an adrenaline-fuelled family adventure!
15th March 2020

Click here to read Holiday and Leisure Show.



Markets in Tunbridge Wells

Towns and villages throughout the borough of Tunbridge Wells enjoy the benefit of Mother Nature’s bounty at a number of regular farmers’ markets.
 
 
7th March 2020

Click here to read Markets in Tunbridge Wells.



Markets in Tunbridge Wells

Towns and villages throughout the borough of Tunbridge Wells enjoy the benefit of Mother Nature’s bounty at a number of regular farmers’ markets.
 
 
7th March 2020

Click here to read Markets in Tunbridge Wells.



Meet The Team

Here at Southborough we run a small but very localised team, offering a wealth of local knowledge and years of property experience. We all live locally to Southborough, have attended schools here or send our children to them currently, have partners who use transport links into London and we are active in the community and use the independent stores. This can be invaluable to new buyers coming to Southborough knowing nothing about the area as we have all the information at our fingertips and clearly love living here which many nervous buyers find reassuring. We’d like to take this opportunity to tell you about ourselves.

Amanda Staveley – Branch Manager:

I was born in Tunbridge Wells and spent five years living in Germany but completed my secondary education at the local girls grammar school (TWGGS). I started in estate agency back in 2001 as a trainee and worked my way up Branch Manager just a few years later. Having only worked for independent agents I really value the personal touch I can provide to every transaction, making sure I am there for our clients and their buyers every step of the way. 
My son attends St Augustine’s which is the local Catholic primary school and very well regarded. I am an active PTA member there and try to be involved with as many local events as possible.

When I have time I am an active participant in Crossfit, and enjoy weightlifting and obstacle course races. I am also currently training to be a Surveyor with the support of my colleagues and partners at Wood & Pilcher.

Niina Gannon – Senior Negotiator:

I was born and bred in the London suburbs and after having my first son, my husband and I decide to follow the well-trodden path and leave London looking for more green spaces, excellent schools, more affordable housing and good transport links to London.

We chose Southborough because it ticked all the boxes and we were able to afford a lovely Victorian three bedroom family home for the equivalent cost of a small flat in London. Soon followed two more sons and we made the most of all that Southborough and Tunbridge Wells has to offer for a family; the wonderful local parks and green spaces, the superb array of activities and clubs for the children and not least excellent schooling.

I was working as Cabin Crew for British Airways at the time and the easy links to the A21 was essential for travelling to and from Heathrow. When I gave up flying to spend more time with my family, I started my career in Estate Agency. I have now worked in the Southborough market for almost 5 years and very much enjoy showing new buyers all that is great about this small town.

Aside from spending time with my family, I enjoy running and make the most of the beautiful woodlands leading from Southborough Common.

Emily Butler – Sales Administrator:

Born and bred on the south side of Tunbridge Wells I slightly reluctantly made the move to Southborough about 11 years ago. However, I haven’t looked back! I’m lucky enough to be right on the edge of the common and use it regularly. I like the feel of this small town and the fact that it boasts all you need for your everyday living and can be reached without getting into the car.

I have three grown up children who have all now flown the nest, which allows more time for me to enjoy my time off. I love to travel and threw caution to the wind and spent 3 months in SE Asia in the winter of 2018 which was a leap of faith at the time and I hold no regrets, it was a fabulous adventure!
 
Keeping fit and spending as much time as possible outside is important to me. I have been enjoying the benefits of Nordic walking for about 6 years. In 2018 I decided to share the joy of this all over body work out for all abilities and started up my own Nordic walking school with Nordic Walking UK; named NWUK Tunbridge Wells. This is a fun sociable way to keep fit, while improving mental health and wellbeing.
 
I have only been with Wood and Pilcher for a few months but the small team in Southborough have been very welcoming and allowed time to learn the ropes at my own speed. It’s of great benefit that all the staff live in Southborough. Keeping it local and knowing our patch helps when discussing the area with new and potential buyers.

Lucy Grinham – Saturday Assistant:

My parents owned a newsagent on Soutborough High Street so I know the area exceptionally well having helped Dad on the newspaper rounds when I was younger. I started as a viewing guide for Wood & Pilcher a month ago, but am enjoying showing houses and meeting lots of new people. I love live music and have recently started a degree in Music Business. I also enjoy football and crime documentaries.



Tenant Fees Act

June 2019 saw the introduction of the Tenant Fees Act – often referred to as the “Fee Ban!”. Essentially this legislation prohibited fees, with very few exceptions, being charged to Tenants prior to, during, and at the end of their Tenancy. Any such costs would therefore need to be absorbed by Landlords and their agents. To put this into some context, there were cases where the income from Tenants fees contributed to around 40% of an agent’s overall income!
So how have things changed? The TFA has definitely made moving house a cheaper process for Tenants. Irrespective of the rent level, the lack of any administration fees and security deposits being capped at a maximum of 5 weeks’ rent means savings run into the hundreds in all cases. While the upturn we have experienced in the number of new Tenancies since June 2019, which included a 3 month period between July and September which saw new Tenancies double from 2018, cannot be entirely attributed to these savings and the flexibility to move that they brought with them, it certainly played a part.
While there is some consistency in the marketplace for Tenants following these changes, the affect to Landlords can and has varied enormously depending on who their agent is.
The introduction of this legislation along with (finally) much more stringent transparency rules being imposed on agents to disclose their fees both online and in branch, has highlighted the approach many have taken to simply increase their fees - but less obviously by adding new ones. Since June we have seen fees being charged to Landlords for a variety of things ranging from Tenancy Agreements and Deposit Registration (in both cases these were commonplace before) but now for Tenant Referencing, Marketing Fees, vague administration fees and my personal favourite – viewings! It has never been more important to thoroughly research your agent before letting.
In the 9 months since this change came in to force many of our clients have benefited from the TFA as void periods are shorter and properties are letting quicker than ever before. We haven’t increased our fees or added any new ones. No Let No Fee, and an all inclusive service are both just that.
As an agent who charged little by way of administration fees prior to the TFA, we were able to minimise the impact this had on our clients, with only the Tenants share of Inventory costs being absorbed by Landlords. Unfortunately, those that helped create the problem that led to the change (low fees to Landlords offset by unreasonably high fees to Tenants) appear to have moved the cost from Tenants, to hiding them from Landlords.
There are plenty of positives for Landlords to take from this significant change in legislation – if you are with the right agent of course.



Property of the Week

Rural Broad Oak, Nr Heathfield - An impressive detached Granary style property situated in glorious countryside surroundings having been recently constructed to a high standard and specification throughout with an abundance of internal and external oak joinery.
 
 
 

Click here to read Property of the Week.



The Tunbridge Wells Market

In my last article, I noted that we entered December of last year in a stock rich position and then proceeded to sell a high number of properties in the days running up to Christmas. At that point I wondered and – frankly – hoped that the Brexit generated uncertainty was starting to fall away. A little over a month on from that time I can confirm that the Tunbridge Wells market has changed dramatically. So much so, that we now find ourselves in a situation where stock levels are starting to become tight for the first time in several years.
An extremely good indication as to the state of the market is a sale that we have tied up this very morning. The property had been on with us a year or so ago and had some 40 viewings and eventually a single, reasonable offer. Fast forward to February 2020 and the property generated 12 viewings in the first 3 days of activity. I should add that this property is priced at close to a £1,000,000. Of those 12 viewers, 5 people proceeded to offer, and the owner was indeed faced with a wealth of excellent buyers to choose from! This is not an isolated case.

What has changed completely, is the motivation and attitude of buyers. The inevitable pent up demand of the last few years of inactivity appears to be truly coming through and we seem to be set very well indeed for the rest of the year.

As I mentioned earlier, the sales uplift we are experiencing is generating an equal lack of available stock for agents as they push into the important Spring quarter. It is fair to say that this is likely to be the best selling market we have faced for some 4 years and to this end, potential sellers will do well to consider marketing now – a rising market, a lack of competition and a heavy pent up demand may well see them achieving record prices for their homes before the wider public become aware of the issue and stock levels rise once again. You have been warned!