Tag: Estate Agent

This week, our communications manager Sally Owen had a fascinating visit to Bungay with Martha Meek, Development Manager for River Waveney Trust following their successful application for funding from Durrants Charitable Foundation.

The River Waveney Trust is an environmental charity dedicated to ensuring that the waters, habitats and catchment of this lowland river are healthy for wildlife and people. Their objectives are to collaboratively deliver river enhancement and protection projects to benefit wildlife, public access, water quality and natural flood management. The Trust was formed in 2012 and is part of a network of around 60 local trusts affiliated to the national Rivers Trust umbrella body.

Martha applied to Durrants for funding on behalf of RWT in order to hold an event in partnership with the charity Groundwork, on Natural Flood Management (NFM), as an introduction to the concept for the local communities of the Waveney Valley. Durrants’ is delighted to be involved in this project having such close connections with land owners across the Waveney Valley, and has provided funding of £1,600 to support the event.

Natural Flood Management involves the use of natural processes to slow, capture, re-direct or store flood waters at times of high rainfall. This can prevent so much water from quickly flowing off the land and to the main river where it can cause flooding to homes and businesses. NFM measures can include tree or hedge planting near the river, installing ‘leaky’ dams made from natural timber to hold back water, digging small pools or ponds to capture and store flood water and allowing the river to flow onto the grassed floodplains where there is no risk to people or farmland.

It is hoped that the event, which is scheduled for November 2021 (date TBC), will pave the way for a longer-term practical project to work with communities and landowners to install NFM features into the landscape.

You can find out more about River Waveney Trust here.

Durrants has been a supporter of Southwold Rugby Club for many years, providing sponsorship funds for various team kits and training equipment, but we didn’t realise just how far our support could reach until now!

Around six years ago, Roger Felton of Southwold Rugby Club took his 16-year old twins on a trip to Kolkata, India where they were involved with The Jungle Crows, a Rugby charity who have been supporting and educating ‘street kids’ since 2004.  Their time in India had a huge impact on them and Roger has stayed in touch with Jungle Crows founder, Paul Walsh MBE, since.

Recently, Southwold Rugby Club pulled together to gather their old season kit and donated over sixty youth rugby shirts to the Jungle Crows.  Paul Walsh said about the donation “Absolutely delighted Southwold stash has managed to make it to the Jungle Crows in Kolkata.  What a great present to cheer everyone up in these difficult times.  We are loving shiny new gear and giving kit a new home.”

We’re overwhelmed with this fabulous gesture and delighted that the old season kit will be put to such good use in Kolkata.

You can find out more about Jungle Crows here.

You can find out more about Southwold Rugby Club here.

Dominic Parravani, Managing Director of Durrants looks to a genius to make some sense of a property market, the like of which we haven’t seen since the 1980s.

What Isaac Newton, who formulated the laws of gravity in the middle of the 17th century, would have made of the current gravity-defying property market is anyone’s guess. But no doubt, like most people, he would have been flummoxed.

Even a genius like Newton, who worked from home during the plague of 1665/6, might have had difficulty making any sense of this mad market. Despite a global killer pandemic, millions of people out of work, the nation in lockdown, pubs shut, travel halted and the Treasury handing out billions in support of businesses, jobs and mortgages, the property market boomed – and it continues to do so. It should, by any calculation, have plummeted like an apple from a tree. Instead, the market didn’t fall; it held itself in suspended animation for a while before surging upwards.

By any estimation the market should at least have mirrored the slowdown experienced after the great recession of 2008. Yet prices are rising.

But perhaps we can learn something from Newton, whose third law stated that to every action there is an equal and opposite reaction.

Homeowners and homebuyers reacted to Covid by moving from large urban centres and buying bigger properties in less crowded areas where they could work from home at least a few days a week. At the same time historically low interest rates kept mortgage repayments manageable, and the amazing vaccine programme has generated confidence.

It wasn’t long ago that property professionals were preparing for the worst. Now the market, which is experiencing very low levels of stock, is seeing increasing values with selling prices in some areas often exceeding their asking prices.

Growing numbers of sight-unseen sales, ultra-competitive bidding through all price ranges and the ugly re-emergence of gazumping are sure signs of people who are panic buying and a crazy property market in boom mode. So, let’s give Newton the last word in trying to make sense of what is going on. He said, “I can calculate the motion of heavenly bodies, but not the madness of people”.

Managing Director and Head of Residential Sales, Dominic Parravani suggests how to tackle the property market as we approach the end of lockdown and the start of summer.

Has the world gone completely mad? Indeed just lately the world of property seems as though it might have done. If the press isn’t yelling about renovations at No 10, it’s screaming about panic buying and soaring prices. How much should we believe?

With No 10, one’s view depends on which side of the fence one is sitting. And it’s the same with property. There’s the buyer’s side of the fence and the seller’s side.

Sellers are having a good time of it at the moment. In many parts of the country there is very little property coming onto the market, which is strengthening demand and driving up prices in those areas.

For buyers it is another picture. Competing for every property with many other keen and proceedable buyers is not a calm or comfortable position to be in. Urgency often causes hasty decisions, a little too much compromise and disappointment.

But the property market is fickle. The pandemic, Brexit, low interest rates, looser lending criteria and the stamp duty holiday have primarily created this surge in demand. What will happen when these things, like the No 10 renovation, are only memories?

It is impossible to say for sure. But what we do know is that the property market is cyclical. What goes up usually to some extent comes down.

The first thing one should do is to remember the immortal words of Corporal Jones in Dad’s Army, “Don’t panic, Mr Mainwaring, don’t panic”. If you must move or are up for a bit of market rough and tumble then by all means join the fray. But if you want a more leisurely buying or selling experience, then perhaps you should hold off for a little while. The market heat will dissipate before too long, just as Covid seems to be doing.

How do you decide whether to act now or wait? Well, you can leave it all to chance, or you can get some proper advice. The thing is that estate agents don’t just sell property; the best ones advise buyers and sellers wisely. When you think about it they know more about the emotional, practical and financial side of moving than anyone else, because they have seen it and done it hundreds of times for thousands of people and innumerable reasons.

So if you are wondering what and when your next step should be in the property stakes, don’t panic; talk it over with people who know.

It’s National Gardening Week this week, so what better time to announce our support of this delightful project at Fressingfield Primary School, near Eye in Suffolk, with funding from our charitable foundation.

Back in March we received a beautifully written letter from Belle, aged 10, telling us about an exciting project going on at the school to build a sensory garden. Funds had already been raised for a ‘reflection shed’ – a space where children can take time out to be still and thoughtful, but more support was needed to create an area around it that would stimulate the children’s senses.

The children of Yangtze class, led by their teacher Mr Leicester researched the benefits of such a garden, put thought into what sort of plants and features it would need and then set to work writing to local businesses.

“This year has been extremely stressful for all children, so it would really help having a sensory garden to come to, to relax. Children with mental health issues can relax their mind and forget about all their worries.” wrote Belle. She went on to say “Furthermore, having a sensory garden is also really good for wildlife; the sensory garden will attract bees because of the strong smelling flowers.”

Here at Durrants we were delighted to read Belle’s letter which conveyed so well just how enthusiastic she and her classmates are about the garden. We decided to contribute £500 towards the project. We also sent Belle a little gift for her hard work in writing such a lovely letter.

“Making a difference to the local community is exactly what the Durrants Charitable Foundation is about and we look forward to hearing how the project progresses.” said Dominic Parravani, Managing Director of Durrants.

Fressingfield Primary School is one of several beneficiaries of Durrants Charitable Foundation 2021.  You can find out more about it here.