We understand that if you’re in the middle of buying or selling a house the news of a second lockdown will have come as a blow.
While criminal and family matters are allowed to continue in court, conveyancing is not, as it isn’t considered essential; the risk of transmission of Covid-19 within a busy contract court is just too high.
Only matters that were beyond the point of no return – given the one working day’s notice to lockdown before the next Contract Court – were able to go ahead this week. For all other matters that are signed up to complete in the next few weeks, the Court will not hear them unless they are deemed absolutely essential.
There is no legal definition of what that means, but an example would be where a person is terminally ill, or someone who needs urgent care. In other words, it will be for exceptional circumstances only.
As the vast majority of present transactions will not fall into this category, they will need to be put on hold until the position is clearer. Estate agents and removal companies are both affected. We have already contacted our vendors and purchasers, but please ensure you take legal advice if you have any specific queries.
Vendors and Purchasers will need to ensure they have organised power of attorney prior to completion if they have not done so already.
If you are due to move to a Rental Property our Rentals Team is contacting everyone but you should speak to our rental team regarding any queries in the meantime.
As and when the situation changes we will update everyone. In the meantime please stay at home, stay safe and follow Public Health advice.
In line with the latest www.gov.gg Public Health advice our office remains closed until further notice.
We are all now working from home (Monday to Friday 09.00 to 17.30 and Saturday 09.00 to 12.30) and will continue to provide as many of our services as possible and will continue to support all our clients to the best of our ability.
Don’t hesitate to give us a call on 711766 for Local and Open Market sales enquiries, and 721757 for our rentals and property management teams. Or, email sales@swoffers.co.uk and leave your name, number and any message.
We will be monitoring all messages and will return your call or email as quickly as we can.
In line with the latest www.gov.gg Public Health Advice our office is now closed until further notice.
We are all now working from home and will continue to provide as many of our services as possible and will continue to support all our clients to the best of our ability.
Our Office Hours are Monday to Friday 09.00 to 17.30 and Saturday 09.00 to 12.30
Clients should still call our office on our regular numbers – 711766 for Local and Open Market sales enquiries and 721757 for our rentals and property management teams or email sales@swoffers.co.uk and leave your name, number and any message.
We will be monitoring all messages and will return your call or email as quickly as we can.
Existing and new clients should feel reassured that the health and wellbeing of our community and our staff remains at the heart of everything that we do.
We thank you for your patience and understanding and will make any further necessary adjustments to ensure continuity of service during these challenging times.
We will continue to update you through our social media channels , emails and notices on our website.
Please follow Public Heath advice and stay safe. The Team at Swoffers #GuernseyTogether
While 2020 was one of the most difficult any of us will remember, the housing market in Guernsey thrived. Latest property sales figures show that just short of 100 open market properties were sold during the year, of which Swoffers sold 53%.
There were 1,017 local market houses sold in 2020, with Swoffers selling one in four.
‘After a cautious start, come May and June it just went crazy with huge numbers of viewings on individual properties and quite often people offering on the spot for fear of missing out. Every level of the market was busy,’ said local market director, Andre Austin.
On the open market, sales were even made unseen; while the business tunnels were in operation Swoffers did eight visits, of which six resulted in offers on the day.
‘It’s clear that Guernsey’s handling of the pandemic has further enhanced our reputation as a safe haven, and as soon as the current travel restrictions are eased we are optimistic about 2021,’ added Shauna Clapham, open market director.
‘While stock levels are challenging, tax advantages are clear. The safe, stable environment is a huge draw, and we expect the latter part of 2021 to be a bumper one.’
Click here to read our latest Open Market newsletter.
The island’s stock of rental property has dwindled to a new low, causing issues for people looking for both temporary and permanent accommodation.
With only a handful of properties on any local estate agent website, the picture is bleak for those who are not in a position to buy.
‘It’s very difficult for a lot of people right now, whether it’s younger people looking to move out of their family home, or people who have sold their home and need somewhere to live while they find a new one,’ said local market lettings negotiator Laura Gorvel.
‘We would appeal to anyone with a property sitting empty to consider renting it out. Becoming a landlord for the first time might seem like a daunting proposition. But with you don’t need to go it alone. Most estate agents offer a lettings management service, taking the stress out of renting out your property.
‘At Swoffers we provide a full service to both local and open market landlords. Our aim is to make the process as simple as possible, minimising potential problems and maximising rental return and capital growth.’
Since lockdown the local housing market has exploded, with a large number of islanders deciding to sell their homes for one reason or another. House prices rose by 12% in 2020 and there was a total of 1,017 local market sales. With stock of local market property for sale becoming tight, many people moved into rented accommodation as they searched for their new home.
‘I’ve never seen anything like it. By May and June, it went crazy with huge numbers of viewings on individual properties, and quite often people offering on the spot for fear of missing out,’ added local market director, Andre Austin.
For more information about renting out your property, contact Swoffers on 721757, or check out this guide.
The last year has presented some incredibly testing times, unparalleled in post-war times, but Guernsey’s unwavering community spirit, all of the wonderful critical workers and concise direction from our government, has placed the island in a strong position for the year ahead.
The property market as a whole was incredibly busy throughout 2020, rentals being no exception. As a result of the global pandemic, there has been new interest in the island from people further afield actively seeking a better quality of life for their families, whilst our own lockdown earlier in the year had many people re-evaluate their situation to find alternative accommodation. The upshot means rental properties have been in high demand and prices have steadily increased. Promisingly, the end of 2020 showed no sign of the situation changing or slowing in 2021.
Swoffers’ continuing digital investment in its website, online portals and various marketing material both national and international, has given us a strong presence in the market place. We continue to be the go-to agents for those wanting to buy, sell or rent homes in Guernsey.
Landlords should be aware that from January 2021 all local organisations/businesses/sole-traders (and all other entities established in the Bailiwick) who are doing anything with personal data are legally required to register with the Office of the Data Protection Authority (ODPA), and pay an annual fee. If we fully manage your property and thus you have no direct contact with your tenant/s, we act as the Data Controller and pay the annual fee, therefore no further action is required from you. If you do have direct contact with your tenant/s and have not already registered and paid your fee, please use this helpful link in order to do so: www.odpa.gg/2021.
Please feel free to contact us with any queries you may have on 01481 721757 or rentals@swoffers.co.uk.
Swoffers’ latest Open Market property and lifestyle magazine has just been published.
With Dr Nicola Brink MBE as our cover star, and the widest range of Open Market properties for sale or rent, the magazine offers a great mix of interesting articles and details of potential new homes.
Guernsey’s new Chief Minister Peter Ferbrache shares his thoughts on the future of Guernsey’s economy post-Covid, we meet local entrepreneur Brian Harrison and find out more about his revolutionary Ypush power-assisted wheelchair, we put the spotlight on the work of local charity Guernsey Welfare plus much more. And of course have an in-depth interview with Guernsey’s Ambassador of the Year, Dr Brink.
There’s also plenty of information about moving to Guernsey and what the island can offer as well as our commentary on how the Open Market has performed during 2020 and our thoughts for the future.
Copies have already been posted to Swoffers’ clients both on and off island and delivered to a range of local businesses. You can pick up a copy from our office in Ann’s Place, St Peter Port or take a look at our online version by clicking here.
Proposed changes to rates of capital gains tax in the UK could well provide another reason to consider relocating to Guernsey.
UK Chancellor Rishi Sunak recently commissioned a report which recommends a major overhaul of capital gains tax or CGT. The report highlights measures that could raise up to £14bn in additional taxes and plug a hole in the UK government’s finances as a result of the impact of the Covid pandemic.
Described as a ‘tax squeeze on the well-off’ by some commentators, the main losers would be wealthy people who own second homes or assets not shielded from tax.
David Parrott, associate director at LTS Tax Limited, confirmed that some of the recommendations within the review include:
- Aligning CGT and Income Tax rates
The top rate of CGT for most transactions is presently 20% with an additional 8% charge for disposals of residential property and carried interest receipts. Aligning CGT and Income Tax rates could increase CGT rates to 45%
- Reducing or abolishing the CGT Annual Exemption (AE)
The AE presently stands at £12,300. Reducing the AE could have the effect of doubling the number of people who pay CGT each year
- Further reduction to, or removal of, Business Asset Disposal Relief (BADR) (formerly Entrepreneurs Relief (ER))
BADR presently allows disposals of qualifying assets to be taxed at a rate of 10% (rather than 20%) up to a lifetime limit of £1M (previously £10M under ER)
- Removal of the automatic CGT uplift for assets held at death
Assets received by beneficiaries on death presently benefit from a CGT uplift to the market value as at that date instead of receiving the asset as its original cost, which can result in significant CGT savings for the beneficiary. The report recommends that consideration should be given to removing this relief
‘Guernsey residents are generally not subject to CGT, other than on the disposal of UK land or property,’ said David.
‘Gains realised upon the sale of shares in UK registered companies, for example, should not be subject to CGT in the hands of Guernsey residents. For disposals of UK land or property by Guernsey residents, it is possible to re-base the asset for CGT purposes to its value at 5 April 2015 for residential property and 5 April 2019 for other UK land and property.
‘Consequently, by relocating to Guernsey, and with appropriate tax advice, it should be possible to either avoid the charge to CGT in its entirety or at least reduce any CGT arising upon the sale of UK land or property,’ said David.
Swoffers is the market leader in open market sales, and despite the impact of Covid overall sales in 2020 are on a par with 2019, and may even exceed them by the end of the year.
‘We have definitely seen an increase in new clients enquiring about relocating to Guernsey,’ said managing director, Craig Whitman.
‘As a self-governing jurisdiction, the island has developed its own favourable system of taxation and, in comparison with many other jurisdictions, tax in Guernsey is straightforward.
‘But there are many more reasons why people are exploring the option of moving here. Guernsey is safe and secure, the island offers a great work/life balance and high quality lifestyle plus there are no barriers to entry,’ said Craig.
‘We have a wide range of open market properties for sale or rent, including a number of low profile confidential instructions so anyone interested in making the move should speak to one of the experienced Swoffers team.’
You can contact the open market team on 01481 711766 or email sales@swoffers.co.uk
Note: The team at LTS Tax are experienced in assisting those that wish to relocate to Guernsey and are well equipped to advise on available tax planning opportunities. Please contact David Parrott or your usual contact at LTS for further information
Official figures published today confirm that the third quarter of 2020 was the busiest in terms of property sales since 2006.
There were 277 local market transactions during Q3, 136 more than the previous quarter and 28 more than the same quarter of 2019.
The average purchase price of a local market property of £465,664 was 9.2% higher than the third quarter of 2019. This annual change was the highest since this measure was first calculated in 2008.
‘Swoffers has had a very busy time since the easing of lockdown back in May,’ said local market negotiator, Antonia Thomas.
‘These Q3 figures don’t even include October which saw the highest number of local market transactions in a single month.
‘What we are noticing now is a significant reduction in stock levels and any properties that are well-presented and well-priced are attracting substantial levels of interest with multiple offers being received from cash buyers.
‘Anyone seriously looking to move should keep their eye on our website and social media feeds and be ready to view at the drop of a hat,’ advised Antonia.
The open market also continues to perform strongly with 20 sales in the last quarter compared with 16 in the previous quarter and 18 in Q3 2019.
‘Swoffers has maintained its position as the leading estate agent completing more than two thirds of all open market sales this year,’ said Alex Stuart, open market negotiator.
‘We are continuing to receive enquiries from new clients keen to explore what Guernsey has to offer as well as those on-island looking to buy and sell. We can offer virtual walkthrough viewings for the majority of our open market properties, so you don’t even need to be on-island to get a good idea of what a property has to offer.
‘We have a large number of open market properties under offer and are also regularly listing new properties including a number of confidential instructions,’ said Alex.
‘We expect to remain busy through to the end of the year.’
Full details of the quarterly property prices bulletin can be found on the States of Guernsey website
Year 6 pupils from Forest and St Martin’s Primary Schools have been showing off their new-found hockey skills at the end of their six-week introduction to the game.
Swoffers is proud to sponsor Junior Hockey’s outreach programme and help introduce a new crop of young players to the sport. Primary age pupils receive training from Guernsey Hockey coaches at their schools before getting to play on the astro pitch at Footes Lane.
‘This gives them a great experience of the sport,’ said Mike Kinder, one of the Guernsey Hockey coaches.
The children certainly seemed to be enjoying it.
‘I like it when my teammates pass the ball and I’m far out and have lots of space,’ said Finlay, aged 10.
‘The thing I like about hockey is that you can run with the ball instead of having to pass it and its really fun,’ said 11-year-old Charlie.
Ten-year-old Saphire said: ‘I like it when you tackle people and when people tackle you because you have to think about what you are going to do with the ball.’
‘I like scoring, I’ve scored twice today,’ added Samuel, 10.
Hockey Development Officer Steve Eulenkamp explained how the programme works.
‘During the six weeks of lessons in school, we aim to teach the children the basic skills required for them to play short games of hockey,’ said Steve.
‘They are all then invited to the Hockey Club to take part in taster matches before the tournament at the end of the year. All of the children are invited to join club training on Sunday mornings, which some do. By introducing hockey to every child on the island, we hope to inspire more children and families to choose hockey as their main sport as they get older.
‘We really appreciate the support and opportunities provided by the Guernsey Sports Commission and Swoffers; without this we would not be able to deliver such a comprehensive and enjoyable programme.’
Guernsey’s property market is continuing to ride a wave of positivity and Swoffers remains at the crest of that wave.
As we head into the last quarter of a roller-coaster year, both Open Market and Local Market sales remain buoyant, the rentals market continues to be busy and the island is successfully promoting itself as an ideal place to relocate to.
‘2020 has certainly had its ups and downs,’ said Shauna Clapham, Swoffers director and Open Market sales negotiator.
‘Back in January we felt confident that we were going to have another record year. Eleven Open Market sales were confirmed in that first month, of which Swoffers was responsible for 8. What a great start!
‘Of course, in line with most other businesses, the Covid lockdown led to a difficult few months. Sales in March, April and May were low as property viewings were put on hold, conveyancing court was closed for all but urgent transactions, and our staff were working from home. It was difficult to envisage how and when things would change.
‘But what we didn’t predict was just how quickly property sales would recover,’ said Shauna.
‘Come June we were experiencing a post-lockdown surge and that has continued and even strengthened every month since then.
‘Looking at the year so far as a whole, Swoffers has maintained its position as Guernsey’s leading estate agent and we believe that confidence remains high amongst buyers and sellers.
‘By the end of Q3 records show we had completed more than two thirds of all Open Market sales and more than a quarter of all Local Market sales putting us in line for a good recovery. Not something we thought would be possible a few months ago.
‘Even with the continued challenges of travelling to and from the island, we have seen continued interest in what Guernsey has to offer, particularly amongst those looking to relocate,’ said Shauna.
‘Guernsey’s advantages are perhaps even more attractive as coronavirus unfortunately continues to have such a massive impact on the lives of those in the UK and further afield.
‘The economic situation and continued uncertainty in the UK and globally has brought Guernsey to the attention of many new potential clients as well as encouraging those who may have previously considered making the move to start taking action.
‘The island has done a great job at promoting itself as a safe, secure and largely Covid-free jurisdiction. It is clear that Guernsey’s positive community spirit has helped overcome many of the challenges of the pandemic and the island’s tax benefits and quality of life remain big attractions to relocators. The swift bounce back in our property markets highlights the confidence in local businesses such as Swoffers and the belief that property remains a good investment,’ said Shauna.
‘We continue to host Business Tunnel visits allowing clients to come to the island and view properties in person, always within the strict operational guidelines imposed by Public Health. What these clients are telling us is that Guernsey offers a powerful mix of quality of life, great location, low tax jurisdiction and ease of relocation. There are no barriers to entry and a range of properties available to buy or rent meaning a quick move is easy to achieve.
‘Our message remains positive. Despite continued travel restrictions, Guernsey is open for business and we welcome enquiries from those keen to explore relocation options. We can facilitate online viewings, provide links to virtual tours, and talk through any queries or questions you may have.
‘As the undisputed leaders in Open Market sales in Guernsey, Swoffers is perfectly placed to lead you through all aspects of your relocation journey. Just pick up the phone or send us an email and begin your move to a better life.’
