Category: Latest News

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Durrants Reydon property receives national interest

national interest

A contemporary home in Reydon, marketed by Durrants, has received national interest after an article on the Mail Online website.

Undoubtedly, one feature inside the house is what caused the most attention – an indoor slide! The slide from the first floor to ground floor offers an exciting alternative to taking the other staircase.

The Mail Online picked up on this quirky addition to the family home and featured it on their website, helping to make it the most viewed property on our own website this week.

Of course, the property has a lot more going for it than just a slide. This strikingly modern coastal home has been subject to an extensive extension, re-design and refurbishment. Previously a modest bungalow, it was overhauled by the current owner in 2016 to provide a contemporary seaside home with four bedrooms, three bathrooms and modern open plan living featuring a great outdoor seating area.

Contact our Southwold office on 01502 723292 if you would like a viewing.

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What has happened in the property market during the last 50 years?

What has Happened in the Property Market During the Last 50 Years
It’s no secret that today’s property market is thriving at peak buoyancy, with record house prices and demand going through the roof, which is why it’s easy to overlook the history of the market which brought us to this point.
 
However, while the market reaches a fruitful era for both buyers and sellers, there are notable periods of buoyancy over the last 50 years which could put things into further perspective.
 
While the market continues to change and grow in today’s climate, in order to look forward and predict future trends, it’s important to look back. New research from GetAgent tracked house price data going back as far as the 1970s, adjusting for inflation, to see which decade has been the most fruitful for the nation’s homeowners.
 

The research delves back into January 2010, when the average UK house price was £167,469, and climbed to £231,792 by the end of the decade at a 38.4% increase. However, after adjusting for inflation, the rate of house price growth recorded between January 2010 and December 2019 sits at around 14.8%, which was the second lowest rate of house price growth in any of the past five decades.

In fact, it’s only been the 90s, when the market has posted the worst performance, with house prices increasing by just 9.7% after adjusting for inflation.

The noughties was by no means, a bad decade for homebuyers, but it still ranks just third where inflation-adjusted house price growth is concerned, with the average UK house price rising by a notable 66.8%.

The research placed the 70’s in second place of the ranking, with house prices climbing by 69.8% after adjusting for inflation, leaving the 80’s to be crowned the best decade to have bought a home.

After adjusting for inflation, the average UK house price was just £66,783 back in January 1980. By the end of the decade, the cost of buying bricks and mortar had climbed to £127,207, a 90.5% increase.

Colby Short, Co-founder and CEO of GetAgent.co.uk, commented: “There’s plenty of reasons why we may argue one decade was better than the rest, but when it comes to house price appreciation, the eighties takes it by some margin.”

“Even after adjusting for inflation, today’s generation of homebuyers may well find it unfathomable that the average home cost just shy of £67,000 back in 1980. So, while today’s buyers have had to contend with some of the lowest levels of housing affordability in history, they may well spare a thought for those who saw the cost of buying increase at such an alarming rate during their lifetime.”

“With the market currently running red hot and no end in sight despite the wider economic landscape, it will certainly be interesting to see where we finish by the end of this decade, and if the eighties will finally be relieved of the crown when it comes to the highest rate of house price appreciation in a single decade.”
 

Find out below why Durrants is different and how we are the perfect fit when it comes to selling your home.

Book a valuation today

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World Town Planning Day

World Town planning Day

Today marks World Town Planning Day, a celebration of the role that good planning plays in improving lives, which has run since 1949.

Recent World Town Planning Days have increasingly focussed on climate change, with 2022’s UK theme being resilience, and how planners can enable communities to respond to the shocks and stresses of our time.

The Durrants Building Consultancy Team are reflecting on the role we can play in achieving this goal, particularly in a rural context.

A great example of a current sustainable projects is an application we have recently made with our client Privilege Finance for an anaerobic digestion plant in East Suffolk, which generates renewable energy from food waste. This is particularly pertinent given the Government commitment to roll out separate household and commercial food waste collection across the country by next year.

We are also working with our clients Pure Eco Homes and Hemspan to deliver sustainable housing utilising hemp technology to the wider market. Finally, we are working with regional food producers to approve their developments which will reduce food miles and provide fresh British produce.

Join the campaign and share your stories about the positive impact of planning in building more resilient cities and communities wherever you are in the world.

#WTPD #WorldTownPlanningDay2022  #UrbanResilience #ClimateAction #climateresilience #PlanTheWorldWeNeed

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Durrants support Harleston fireworks

Durrants support harleston fireworks

Durrants are proud to once again sponsor the Harleston Fireworks display, which is being held on Friday 4 November 2022 at The Harleston Sancroft Academy.

The event has been kindly organised by Dan MacDonald and will raise funds for the Harleston Sancroft Academy.

Gates are open from 6pm with music, drink and food available before the fireworks at 7pm. Tickets can be purchased on the night for £5.00 with under 5’s free.

 

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Opposing Forces

Opposing Forces

Dominic Parravani of Durrants examines the conflicting forces that are affecting the property market in the run up to Christmas.
 
The property market is changing.  This can hardly come as a surprise to anyone, as so many other things in our lives are changing almost on a daily basis – the prime minister, government policies, mortgage interest rates, the cost of living, and public and commercial confidence.
 
How is all this change affecting the property market? Less than one might think. Most evidence seems to point to a swing from a strong sellers’ market to a moderate buyers’ market. Moderate because there are still powerful but sometimes opposing forces at work, such as low numbers of properties on the market, which are keeping house prices reasonably buoyant. This lack of inventory could well be the economy at work, but with Christmas on the horizon it could also have something to do with the time of year. So, we won’t have a more accurate picture of this until the new year.
 
Estate agents expect fewer deals to fall-through over the next few months. Active buyers want to keep hold of their current mortgage offers and see through purchases rather than risk re-applying at higher interest rates. But, over time, higher interest rates will become the norm and bring new pressures for most, including many thousands of homeowners coming off fixed-rate mortgages next year. But we should remember that interest rates are still below the thirty-year average.
 
The energy crisis might encourage some homeowners to lower costs by downsizing, thereby bringing larger properties onto the market. But many first-time buyers will have to wait longer until they have enough money to afford higher mortgage costs, so this could create a log-jam further up the property ladder.
 
All in all, it’s a bit of a mess. The property sector and housing generally need stability. We have had a different housing minister nearly every year since the start of this century and five in the past two years. So, for a start, our new premier could try and keep a housing minister in place for the next forty-eight months.
 
Yet, despite all this, buyers are buying and sellers are selling. Life continues, and the property market is undoubtedly functioning as it should in these circumstances. Why? Because this beautiful, funny, proud, eccentric, bickering, ever-tribal, gloriously diverse and wonderful kingdom is still a fabulous place in which to buy a property.

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Race report: 24th – 25th September – Stone Enduro

Durrants have recently pledged their support to Diss-based Planner, Jasmine Philpott, in her off-road car racing pursuit. Here’s the first of some occasional updates on her progress in events around the UK. This time: the Stone Enduro.

Keen not to miss out on driving this event in my own car, I decided to enter both the Warrior and the Excite car in the Stone Enduro, a comp safari hosted by Staffs and Shrops Land Rover Club. My choice meant twice the driving and half the rest. Ignoring all the ‘good luck’s and ‘you’re mad’s, I arrived at the farm mid-morning on the Saturday, dog and boyfriend in tow, ready for the challenge.

I quickly had a shock that made me regret my decision. The ‘enduro’ part of the title of this event apparently meant not only 2 days of racing, with night runs, but also what’s known as a ‘split and merge’, whereby instead of completing one lap at a time, you re-join the course and repeat it twice before crossing the finish line. They were planning to do 8 runs on each day. I already knew that meant 32 runs for me driving two cars, so to see this number double to 64 was quite alarming. Too late to back out now!

I walked the 6-mile course with my two navigators (one per car) – this is important because both of you need to know the route, and agree certain things, such as lines and speed. There are no pace notes allowed in comp safaris, so it’s always good to walk the course at least once. 

We made it back from the walk in time to sign on and get both cars scrutineered, a process in which the car is checked for compliance with MSUK safety standards. Driver’s briefing was next, and I was thrilled to hear that they had removed the split and merge. Apparently, a lot of people were complaining because they hadn’t brought enough fuel for double the anticipated mileage!

I was under strict instructions not to scrape, damage or crash the Excite car, and to take it very easy, whereas the Warrior is my own car and therefore my problem if I damage it. Cars are set off in order of speed, so I went out in the Warrior in the top 10, got back, had some water and wiped the dirt from my face, then sprinted over to the Excite camp and took that car round. I was very busy, but it worked.

The two cars are like night and day – like driving a Fast-Trak and then getting into an Aston Martin. But, the principles are the same, and the Excite car is a much more relaxing drive than the Warrior. It is hard to explain to anyone the physicality of racing at top speed on such rough terrain – everything hurts, your fitness has to be excellent, and you need a day off to recover and stop aching.

The Excite car ran without any mechanical issues at all. It’s a slow car, designed for wading across dunes, not zipping around British farmland. The Warrior however is aggressive, loud and perfectly built for the conditions. The weekend passed without any significant dramas, apart from me only just setting off for my last lap in time for the cut-off of 3pm (I think I went off the line at 2:58). The exhaustion started to set in as I stood in a daze during prizegiving, only to find I won 2nd in class in the Excite car and 3rd in class in my own.

Next event: Walters Arena, 8-9th October.

Find out more about Jasmine Philpott and her Dakar Rally mission
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Durrants annual Charity Clay Shoot

The winning team being presented with the winner’s trophy and prizes.

As always, Durrants annual charity clay shoot had the most wonderful autumn day by kind invitation of Phillip Kidner of Red House Farm, St Margret South Elmham.

The charity event is a firm fixture in the calendar welcoming an eclectic mix of local clients and fellow professionals.

The year’s event was won with a high score of 297/300 which is an amazing achievement.

Our charity of the year is Prostate Cancer and monies raised from the shoot will be going to them to fund vital research.

Thank you to all from Durrants who helped run the day, and the BBQ for all their efforts.

Nick Durrant, addressing contestants at the start of the day.
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Cookley & Walpole Community funding

Funds from Durrants Charity Foundation have been presented to Cookley & Walpole parishes to help with the running of two electric bikes!

The community electric bikes project has been running since 2015, based in Cookley & Walpole parishes. The launch included a competition to choose names for the two bikes. The winning names were “Dina” and “Mo” – by which they’ve been known as ever since.

The main intended (and actual) uses of the bikes, for which they are loaned out free of charge, are:

  • To save carbon by using the bikes instead of cars or motor bikes. [From detailed monitoring during the first two years of use, we estimate the ebikes have saved approximately 50kg of CO2 per year – a total of 350kg since the project started].
  • To help overcome social isolation for people who don’t have cars.

Durrants were delighted to help with this very worthy local cause and the cheque was handed over by Gabi Wones from our Halesworth office.

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Henham Steam Rally

Durrants were delighted to be back at this year’s Henham Steam Rally, after an absence of two years due to Covid.

Always a firm favourite, the crowds returned to support this popular local event. As in the past, Durrants sponsored the Rally and teams from across our offices manned our stand, entertaining clients old and new.

“The Henham Steam Rally has been raising funds for local good causes for nearly 50 years, and it’s my personal favourite event to attend and support”,  said Durrants Managing Director Dominic Parravani. “We are all already looking forward to next year! Number 47!”

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Durrants sponsor in-house Planning Consultant on Dakar Rally mission

Always eager to encourage employees in their interests outside of work, Durrants have recently pledged their support to Diss-based Planner, Jasmine Philpott, in her off-road car racing pursuit.

The 29-year-old has competed in a grassroots motorsport called Competitive Safari (aka comp safari) for several years. Driving her custom-built prototype Warrior, Jasmine is regarded as the most competitive female driver in the sport since the 1990s, generally placed in the top 10 in national events.

The Warrior

Comp safari events are single-venue, off-road races in which between 30 and 50 drivers tackle a rough, fast course in a variety of different vehicles, from budget-friendly modified Land Rovers to 600bhp prototypes. Nearly all vehicles are 4×4, with classes defined according to suspension type and engine size.

The Excite Car

This year has also seen her join Excite Rally Raid as the main driver of their desert-racing-spec Mitsubishi Pajero. The team are aiming to be the first all-female British team to finish the world-famous Dakar Rally. This year has included some practice events, mainly focussing on exposure in order to raise sponsorship, with a view to compete in European Bajas in 2023 and begin training for desert racing thereafter.

Jasmine has agreed to provide regular race reports on her events this year, so keep an eye on the blog and our social media pages for more. You can also follow her journey on Instagram @offroadjasmine 

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The A to D of the Property Market

The A to D of the Property Market Article

Dominic Parravani of Durrants looks at how to manage the property market when world events seem overwhelming.

If ever we needed a crash course on how world events affect our daily lives, the past few months have provided us with a masterclass.

From the Russian invasion of Ukraine and its economic aftermath to our monarch and prime minister changing in a few weeks, there has been national bewilderment.

Of course, our press has done a great job in alerting us to all the dreadful things that could make things even worse, and this fanning of the flames of fear has sent shockwaves through all sorts of markets, including property.

But there are property market drivers that neither the press or the Russian president can affect because they have no control over such matters. These are the A to D of the property market.

A is for ambition – the personal ambition to live somewhere better, bigger, smaller, prettier, more convenient, more rural or urban.
B is for birth – as our families grow, we need more space.
C is for consolidation – people getting together to cohabit or downsizing after children have left home.
D is for death, debt and divorce – those three drivers on their own stimulate a high proportion of movement in the market.

Back in the 1980s we learned that the people we could rely on in a tough property market were ourselves, our families and our friends. Also, our estate agents. The reference to estate agents is not a glib remark: right now, with interest rates rising, lenders panicking, and buyers and sellers rightly concerned, it is the steady hand of an experienced estate agent that will provide focused calm and wise counsel.

If you are wondering about the right time to buy or sell property, remember the A to D of the property market. Individually we are not driven by war or a fallen monarch, and we shouldn’t be persuaded by rising or falling house prices. Instead, we should be driven by what is best for us as individuals.

When is the best time to buy or sell a property? Within the constraints of affordability it should be when it is most suitable for us and our families.

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March the Month for Prostate Cancer UK

March the Month Challenge
Durrants are thrilled to announce a final total of £1880.32 will be donated to Prostate Cancer UK thanks to the efforts of Tracy Walker in our Holiday Cottages team.

One in eight men will get prostate cancer in their lifetime. It’s a life changing diagnosis, but it doesn’t have to be this way. Throughout September Tracy has been raising money to help fund lifesaving research and support services for men and their families affected by the disease. The March the Month challenge saw Tracy undertake 11,000 steps each day to represent the number of men who lose their lives to the disease every year.

Tracy commented: “As a family we know only too well the devastating feeling when you are told a loved one has prostate cancer. I have learnt an awful lot in a short space of time about the varying stages of the disease and how it is tackled with different treatments.”

“As well as wanting to raise money to fund the continuing research and treatments, I also wanted to raise awareness so each day throughout September I donned my Prostate Cancer UK t-shirt and explored Reydon and Southwold. The first few days made everything seem very real and quite emotional, not something I expected.”

“The final day landed on the Macmillan Cancer Support coffee morning and cake sale, I couldn’t have asked for better timing. I aimed to hit the final 11,000 target by lunchtime, so I could not only celebrate with my supportive colleagues in the office, but also eat cake to regain my energy levels!”

Tracy excelled herself and her final step total was 416,853 resulting in 164.7 miles walked and £940.16 raised.

All of the team at Durrants are incredibly proud of what Tracy has achieved and we will be matching her personal total to bring the final amount raised to £1880.32. Well done Tracy!