End of Year 2024 at Spencer - Opening Hours for Christmas 2024

 

It seems to have been a tumultuous few years for the property sales market and we are hoping that people are going to finally start to bite the bullet and “just get on with it”. 

In 2024 we seem, once again, to have been plagued with buyer indecision with the year starting slowly and then with the market stalling at the announcement of the general election and the uncertainty of changes to policy in the lettings and sales markets. 

Unfortunately, the change of government and changes afoot to Renters Rights as well as stamp duty, inheritance tax and unclear policies to come not yet defined, many property owners haven’t sprung into action, unless it is to dump HMO properties and rentals. 

Sheffield has seen a monumental drop in university applications this year creating further confusion and a surge of investment stock onto the market, many of which have reverted to residential ownership. 

We keep saying that nothing else can stall the market after riding storms of a global pandemic, the war in Ukraine, global political uncertainty and changes to the world’s leading countries, a change of government, 14 increases in interest rates, chaotic policies, and political indecision, however, what else can possibly go wrong? (*crosses fingers in hope*) 

Aspirational movers are the ones we want to see back in the game, with a hope that the top end of the market will slowly start to improve, as the first time buyer market has been pretty consistent throughout the year. 

Looking forward to 2025, we see a steady confidence returning and an acceptance of the government change forcing buyers to get on with their lives with some ambition in mind instead of standing still. We live in hope!

It has been an exciting year at Spencer, with the formation of the Trust and the company being sold into employee ownership. The team here are all staying and hoping to see and hear from our clients over the next year and beyond. 

The biggest reason that people come to Spencer is through recommendation or repeat business and we thank you all who recommend us and return to us, we couldn't be here without you. A heartfelt "thank you" from all Team Spencer who wish you all a Merry Christmas and a Happy New Year! 

Attention Landlords and Tenants! #rentersrights

 

Attention Landlords and Tenants!

 

Do you understand what the new Renters’ Rights bill will mean for you?

The Renters’ Rights Bill will:

·         Abolish section 21 evictions and move to a simpler tenancy structure where all assured tenancies are periodic – providing more security for tenants and empowering them to challenge poor practice and unfair rent increases without fear of eviction. We will implement this new system in one stage, giving all tenants security immediately.

·         Ensure possession grounds are fair to both parties, giving tenants more security, while ensuring landlords can recover their property when reasonable. The bill introduces new safeguards for tenants, giving them more time to find a home if landlords evict to move in or sell, and ensuring unscrupulous landlords cannot misuse grounds.

·         Provide stronger protections against backdoor eviction by ensuring tenants are able to appeal excessive above-market rents which are purely designed to force them out. As now, landlords will still be able to increase rents to market price for their properties and an independent tribunal will make a judgement on this, if needed.

·         Introduce a new Private Rented Sector Landlord Ombudsman that will provide quick, fair, impartial and binding resolution for tenants’ complaints about their landlord. This will bring tenant-landlord complaint resolution on par with established redress practices for tenants in social housing and consumers of property agent services

·         Create a Private Rented Sector Database to help landlords understand their legal obligations and demonstrate compliance (giving good landlords confidence in their position), alongside providing better information to tenants to make informed decisions when entering into a tenancy agreement. It will also support local councils – helping them target enforcement activity where it is needed most. Landlords will need to be registered on the database in order to use certain possession grounds.

·         Give tenants strengthened rights to request a pet in the property, which the landlord must consider and cannot unreasonably refuse. To support this, landlords will be able to require pet insurance to cover any damage to their property

·         Apply the Decent Homes Standard to the private rented sector to give renters safer, better value homes and remove the blight of poor-quality homes in local communities.

·         Apply ‘Awaab’s Law’ to the sector, setting clear legal expectations about the timeframes within which landlords in the private rented sector must take action to make homes safe where they contain serious hazards.

·         Make it illegal for landlords and agents to discriminate against prospective tenants in receipt of benefits or with children – helping to ensure everyone is treated fairly when looking for a place to live.

·         End the practice of rental bidding by prohibiting landlords and agents from asking for or accepting offers above the advertised rent. Landlords and agents will be required to publish an asking rent for their property and it will be illegal to accept offers made above this rate.

·         Strengthen local authority enforcement by expanding civil penalties, introducing a package of investigatory powers and bringing in a new requirement for local authorities to report on enforcement activity.

·         Strengthen rent repayment orders by extending them to superior landlords, doubling the maximum penalty and ensuring repeat offenders have to repay the maximum amount.

Thrilling News For Spencers Agents!

Thrilling news for Spencers Agents!

We are delighted to inform our clients, customers, and friends that we have completed the sale of Spencers Agents to a trust to form an EOT (Employee Ownership Trust). We understand that we are the first estate agents in Sheffield to take this road and are pioneers for the company’s employees to take ownership of the company under the newly formed trust.

There are so many exciting reasons why an EOT is a good idea, and the lovely people at Hawsons Accountants and Knights have been incredible at guiding us through the process, and at advising all employees on their exciting future as owners of the company.

When you own and run a company as a sole director, there must be a clever exit strategy in mind, even if it is for ten years down the road, as ultimately you are solely responsible for all of the employees, their families, and their mortgages, so you can’t just decide to lock the door one day and walk away.

The truth about our team at Spencer is that all the people here care as much as I do, and this way they can really be part of the future of the company, and can reap any rewards for their loyalty and commitment to us as a family.

For our clients, this means that absolutely nothing changes, there won’t be a new fat cat company taking over and making changes, or increasing fees and prices, we will continue in exactly the same way as we have always done, the only difference being that when a sales caller asks to speak to the owner of the company, then they already are!

The structure of the new company sees me, Nicola Spencer, remaining as the Managing Director of the company and will still be at the helm. The success of the company means more than ever to me and more than ever to the team here so we are expecting an even brighter future.

If you would like to consider the EOT option for your company, we very highly recommend Scott Sanderson of Hawsons, and Paul Trudgill of Knights, who gave clear and reassuring advice right the way through the process.

Thank you to everyone involved and congratulations to the new staff who have officially adopted Spencer – long may the company continue to thrive and grow. 

www.spencersestatagents.co.uk 

Hawsons

Knights

Sheffield Market Prediction 2024 - Spencer of #Sheffield

What is coming our way in 2024?

2023 was a rollercoaster year, starting with a bewilderment hangover from the end of 2022 and Ms Truss’ atomic bomb mini budget. 

The year in our region seemed unaffected until we got to the summertime, when we really started to see a decline in interest and where people seemed to be hanging on for the perceived “bottom” of the market. 

Through Q4, the market was stronger, more stable, people seemed more resilient to the idea of the interest rates remaining as they are, the utility prices coming down helped ease some cost and expenditure worries, and into 2024 we feel this steady confidence will remain. 

The ambitiousness of fast climbing in the housing market has tamed, which is no bad thing, and people are wholly more sensible with their outlooks of the cost of living remaining high and therefore affordability remaining tight. 

2024 looks likely to start slowly but to pick up somewhat into spring summer as the days get longer and hope returns with gusto – we are anticipating a steady year ahead, hopefully with fewer surprises than the last four years of worldwide unavoidable turbulence.

To view our properties, head to www.spencersestateagents.co.uk 

NEW Blog about our Wonderful Endcliffe Park by our gorgeous Khloe #spencer #sheffield

 New Blog by our Gorgeous Khloe.....  

‘The Endcliffe neighbourhood is located on the south west side of Sheffield, home to the beautiful Endcliffe and Bingham parks and has an array of exciting places to eat, drink and shop. Endcliffe park opened its gates in 1887 in celebration of Queen Victoria’s Jubilee and is one of the hottest spots for family outings, parking it up with friends, it’s also a gateway to Sheffield’s Peak District National Park. If you fancy a drink or bite to eat, in the heart of the park is the iconic Endcliffe Park Cafe, open throughout the year and serves delicious, locally sourced food and Fairtrade teas and coffee. 

If you’re making your way from Endcliffe Park up to the Peaks, there’s plenty to see and do on the way, such as taking a well-deserved pitstop and the Forge Dam Cafe. Or, further along the trail to the Peaks, you could spend the day visiting the hugely popular Mayfield Alpacas Animal Park, who offer a range of fun and educational events such as Alpaca Treks, feeding Meerkats and other animal experiences (IG, @mayfield_alpacas_animal_park). 

Just a short walk from the park, you’ll find Hunters Bar, Ecclesall Road and Sharrow Vale on its doorstep. One of my favourite things to do on the weekend is to wander through the local area as there are so many unique and independent shops and places to discover. Anything you could want or need; you will be able to find here. One of my favourites (even just to window shop) is Pete McKee’s art gallery (IG, @petemckee), which sees visitors from all over the world. If you don’t know who Pete McKee is, you should get to know! Born and bred in Sheffield, Pete McKee is world renowned for his unique illustrations that embody Sheffield’s rich history and culture. 

In the evenings, there’s plentiful bars and restaurants to choose from; I’m still working my way to visit them all after living in the area for nearly five years! However, one place I find myself visiting again, and again… is The Lescar pub, located in Sharrow Vale (IG, @thelescar). The interior design is traditional with modern features, in the winter their open fire heats the entire pub which makes it the perfect cosy spot to meet up with friends and family. In the summer, there is a gorgeous courtyard area where you can enjoy your food and drinks in the glorious Sheffield sun. They also host weekly live music and comedy performances, which is a great opportunity to support and check out the local talent.

For these reasons to name a few…  the Endcliffe neighbourhood is one of the most sought-after areas to live in Sheffield. With its close proximity to both Universities, being in the catchment area for some of Sheffield’s best schools and City centre, it’s the idyllic location, whether you're a student, young professional, couple or family.’

Nether Edge and Abbeydale, #Sheffield - we talk about why this area is so great! #Spencer

 

We are back blogging! Sorry to have been missing for a while! 

It’s no secret that Spencer loves Sheffield but let us tell you about why we love Abbeydale & Nether Edge.

 

Abbeydale & Nether Edge offer something for everyone with super popular residential areas providing an enormous range of property, outstanding schools, shopping and a fabulous lifestyle to boot.

In this vibrant area of S7 there’s a whole host of pubs, bars, restaurants & takeaways to suit every palate. Particular favourites in our office are Bench, The Broadfield Pub, Two Thirds, Picture House Social and Forge Bakehouse to name but a few.

 

Of course there is also the Antiques Quarter to potter around and get lost in corners of, looking for a quirky piece of furniture or a trinket for your new home. If that isn’t your thing then there are plenty of charity shops, independent shops, artisan bakers, international supermarkets, health food shops and florists to keep you entertained.

As well as shops, you’re spoilt choice for green spaces to visit in the area. You can entertain the kids in Broadfield Park, Mount Pleasant Park or Chelsea Park or go for a stroll in Brincliffe Woods, which are part of the Round Sheffield Walk.

There are plenty of events in the area to take part in too! Nether Edge Neighbourhood Group is a well established friendly organisation that is responsible for the quarterly Farmers Market, the annual Nether Edge Festival, Open Gardens and much, much more.

When it comes to schools Nether Edge Primary, part of the Mercia Trust, is an outstanding primary school based on Abbeydale Road along with Mercia Academy further up the road in Bannerdale both of which are incredibly popular with families in the area.

 

If you’re looking for somewhere to live, the area has everything from apartments, terraced houses, Victorian villas to new build detached properties, something for every budget and every taste. What more could you want?!

Photos are in from our 10th Birthday Party! Thanks so much to S6 Photography #Spencer #Sheffield

Credit S6 Photography 

Venue 99 Mary Street