April sees slowing in annual house price growth - Nationwide

Timothy is a Partner of Allcott Associates LLP and the driver behind its growth from a small firm of building surveyors in the Midlands to a countrywide residential, commercial and valuations practice to be reckoned with.

Rather averse to sitting behind a desk all day, Timothy continues to work on the ground, carrying out surveys in the area around his home in Oxfordshire. 

Timothy specialises in residential surveying, listed buildings and conservation. He is an enthusiastic advocate of combining surveying and structural engineering expertise to deliver expert technical and structural insight for clients.

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Previously Director of Surveying Services at another national surveying firm, David Clare joins Allcotts at Partner level, looking after the residential arm of the company. Allcott Associates is pleased to announce the appointment of David Clare FRICS, MFPWS as Partner. David’s career in the built environment has spanned several decades, over which time he has worked at a senior level in loss adjusting and antiquities, before moving into residential surveying. Passionate about surveying older properties, David brings a wealth of conservation and heritage expertise to the firm. He also has in-depth knowledge of RICS rules and requirements, and is looking forward to building on Allcott’s excellent reputation within the Level 3 surveying sector, ensuring continued compliance with professional standards and further development and improvement of their survey offering. As David says, “I’m really excited to be joining Allcott Associates and using the skills I have developed over the years to support the firm with growth and development, while maintaining an excellent standard of work.&nbsp; I’m particularly looking forward to working closely with the surveying team to make the most of the diverse range of specialisms that we have in the firm. The in-house expertise is vast, and I’m delighted to have the opportunity to support the surveyors with learning new skills from their colleagues to further develop their own careers.” As well as taking on a leadership role, David will be carrying out building surveys in his home patch of Somerset and Bristol. Having surveyed properties dating from the 1250s all the way to 21st century ‘Grand Designs’ style properties, David’s knowledge is an invaluable resource for clients in the West Country region. As Timothy Allcott, Managing Partner explained “We’ve known of David’s outstanding reputation in our industry for some time, and we couldn’t be happier that he has chosen to join our company. David’s experience in compliance and management will benefit our internal team and our clients alike, making sure that we always offer an excellent, competitive service that allays our clients’ concerns and supports them in the home buying process.&nbsp; Allcott Associates’ year-on-year growth is testament to the quality of work we produce. Maintaining that standard as we expand is crucial to both our success and consumer confidence in the surveying industry. I’m confident that David is the right person to manage our growth in a way that ensures the highest professional standards over the coming years.” &nbsp;<blockquote>This is a big move for us and the team, which will ensure we maintain high-quality RICS survey outputs as we grow and expand across the country. David is also looking to provide some fantastic career development opportunities for the existing team and new joiners alike.</blockquote>

David Clare leaves Director role to join Allcott Associates Surveyors

The average cost of repairs required to homes under offer in England and Wales is a hefty £14 000, according to an analysis of Allcott Associate’s March 2024 survey data. Yet only 1 in 10 homebuyers instruct a survey, meaning that many risk discovering that expensive repairs are needed only after they have moved into their new homes. Following research revealing that only 9.7% of property buyers instructed a home survey in Q1 2024, Allcott Associates analysed data from our Level 3 March 2024 surveys to see what the average cost of repairs was across the month. We found that:&nbsp; • 92% of properties required over £1000 of repairs • over half (58%) needed over £5000 of repairs • 1 in 3 needed over £10 000 of repairs. The highest estimated total cost of works across the surveys we sampled was £202 500; this was a 1930s property in Oxfordshire. In this case, the cost of repairs was approximately 10% of the purchase price. This included removal of defective asbestos fittings, demolition of a dilapidated carport, renewal of the gas and electrical systems and replacement of numerous doors and windows. Another property, this time in Stroud had 48 items that required significant repair, amounting to costs of £69 000. This information can be invaluable to buyers looking to make an informed decision on whether to go ahead with a property purchase. In some cases, it leads to buyers pulling out of a sale; in many more cases, purchasers use the data to negotiate with the vendors, either to make sure that works are done and issues fixed before they move in, or to reduce the purchase price sufficiently so that they can afford to carry out the repairs themselves after contracts have been exchanged.It is particularly concerning that the proportion of people having a survey appears to have dropped in recent months, down from the figure of 20% of buyers that has been cited in previous years. This could be down to cost of living pressures. However, rising interest rates have meant that many of the homes on the market are listed because people are forced to move, perhaps owing to money pressures, divorce or death; these properties tend to have not been well-maintained, making a survey inspection even more prudent in this current market.&nbsp;<blockquote>Skipping a survey can seem like a cost-saving, but surveys regularly save buyers several thousand pounds by allowing them to negotiate on house price and avoid costly surprises after moving in.&nbsp;In a buyer’s market, like we have today, negotiations are usually successful when supported by concrete data, such as a report from a qualified surveyor.</blockquote>

Buyers could be making a costly mistake by skipping home surveys

Timothy is a Partner of Allcott Associates LLP and the driver behind its growth from a small firm of building surveyors in the Midlands to a countrywide residential, commercial and valuations practice to be reckoned with. Rather averse to sitting behind a desk all day, Timothy continues to work on the ground, carrying out surveys in the area around his home in Oxfordshire. Timothy specialises in residential surveying, listed buildings and conservation. He is an enthusiastic advocate of…

Tim Allcott

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April sees slowing in annual house price growth - Nationwide