Reeds Rains Property Blog

Property News from Reeds Rains

Reeds Rains win Gold for Best Property Management at the Lettings Agency of the Year Awards and Silver for the Best Large Lettings Agency 2014

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Reeds Rains representatives at the Lettings Agency of the Year Awards 2014


Reeds Rains has been successful at the Lettings Agency of the Year Awards 2014 where we won Gold for Best Property Management and Silver for the Best Large Lettings Agency, despite tough competition from some of the leading names in the market. The Awards, in association with The Sunday Times and The Times and sponsored by Zoopla, are some of the most sought after in the lettings industry and to be acknowledged as a winner is seen as a major triumph for Reeds Rains – providing us with yet more ammunition to promote our great lettings services.

What the judges said about our entries 

Gold - Best Property Management Lettings Agency of the year Awards 2014

Reeds Rains impressed the judges who said: “The team at Reeds Rains takes innovative ideas to a new level, which for a business of this size impressed the panel. Systems are centralised and automation is in place where appropriate to effectively manage all branches and ensure consistency of service levels. The property management team is also centralised and they support the client facing offices via a number of core specialist units so competencies are focused in required areas and used to the best effect. The directors are very clear on the business strengths and weaknesses and what action they need to take to improve. They actively seek customer feedback, whether positive or negative, via social media platforms and the judges loved the honesty and passion of this approach; allowing landlords and tenants to appraise their services publicly is a bold move but is one which is paying off as an open testament to a fantastic business.”

Silver - Best Large Lettings Agency 2014

Reeds Rains also went onto win silver for Best Large Lettings Agency 2014. This is a fantastic achievement, which demonstrates that they really do deliver the best class in customer service.

The judges commented that:  “As a franchise model, Reeds Rains leverages its position to combine the best of services that a large corporation can offer with small independent agency work. It offers extended opening hours and second viewings are encouraged where appropriate so tenants can spend time making a decision and don’t feel rushed. Additional time is also spent with first-time renters to ensure they fully understand the contracts and their obligations as tenants. This has reduced problems during tenancies and also during vacation and the number of complaints has dramatically reduced. A dedicated management centre offers seamless service to both landlords and tenants as all the staff are fully apprised of each person’s file through the online systems and can help immediately. There is a culture of personal accountability at Reeds Rains so every employee takes full responsibility for every client interaction they participate in. The directors are hands on and remain fully involved with the business at grass roots level; every branch is audited quarterly and they value their team, rewarding them well with bonuses, incentive trips and excellent training provision.

Oliver Blake, Managing Director at Reeds Rains adds: “This is fantastic news, to win these awards is a testament to all the hard work and commitment of staff from across the business. Your diligence and care is also reflected in all the positive feedback given from our customers and – with our awards success – provides us with the opportunity to produce even greater results in the future”.

The awards ceremony took place in the luxurious Nine Kings Suite at The Lancaster London Hotel where Reeds Rains representatives received the Awards from celebrity Katie Piper.

Lord Mayor and Mayoress officially launch new Reeds Rains office

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Staff and customers outside the Reeds Rains branch

Sales and lettings agent, Reeds Rains, has been celebrating the recent refurbishment of its office by hosting a special launch event. The event welcomed Durham’s Lord Mayor and Mayoress, John and Maxine Robinson, along with new and existing local customers and businesses to see for themselves the great improvements made to the office.

The office, situated at 83 New Elvet, Durham, DH1 3AQ, has been updated with modern new furnishings and high tech LED displays to enhance the on-going display of properties which is popular with the residents in Durham. This is a great step forward for the local team who are proud of their ongoing commitment and success in the local property market.

The office also features eye catching custom made wallpaper featuring the beautiful, purpose-built Gala Theatre which reinforces Reeds Rains interest in its local area. The new Reeds Rains logo has also been designed to highlight its long standing position in the property market but also its forward thinking approach to residential sales and lettings and is a key feature within the office.


Property advice given by Durham staff

As well as the Lord Mayor and Mayoress, attendees included, Branch Manager Todd Armstrong and Reeds Rains Managing Director Oliver Blake.

Oliver commented: “It was great to welcome the Lord Mayor and Mayoress, business partners and customers to the event. Lots of people supported us and all had a fantastic evening. I was honoured to be able to talk about Reeds Rains and the fact that it has been in existence since 1868 yet continues to evolve as the refurbishment clearly demonstrates.

Thank you to the Lord Mayor and Mayoress for officially launching the event and declaring our new branch open with the cutting of the ribbon.”

If you would like to find out more about how the local Reeds Rains team can help you please contact them at 83 New Elvet, Durham, DH1 3AQ  or call them on 0191 384 1222(*)

Left to right: Todd Armstrong branch manager with the Lord Mayor John Robinson

Refurbished Durham office

 

 

(*) Calls may be recorded and/or monitored for training and/or data protection purposes.

 

 

House prices climb £21,000 or 8.5% in a year – but only 6.3% without London

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  • Eleventh monthly rise in succession, as prices climb £2,326 in May 
  • Average house prices reach a new peak of £266,013 
  • Driven by price growth in London – but signs show capital is cooling at the top end 
  • Considering CPIH inflation, only London and the South East see ‘real’ house price growth since 2005

David Newnes, director of Reeds Rains estate agents, owned by LSL Property Services plc, comments: “Average house prices across England and Wales have climbed £20,938 in the past year. This 8.5% rise is the highest annual increase we’ve witnessed since August 2010, when the housing market was edging back from the throes of the financial crisis, and brings average property prices to a new peak of £266,013.

“As the vigorous health of the UK housing market catches international and media attention, all eyes have been on how the government and regulators will react. However, the growing clamour for intervention neglects the fact that when taking inflation into account, only London and the South East have seen house price growth in ‘real’ terms since January 2005. London is in a league of its own, with prices climbing 13.3% on an annual basis. When you take the capital out of the equation, average prices across England and Wales have risen just 6.3% in the last year to £221,212. This price difference is the largest since our records began.

“The national recovery is gaining strength, bringing with it renewed consumer confidence and a ‘feel-good’ factor to millions of households. In the past twelve months prices have risen in 91% of the unitary authorities across England and Wales. In fact, in April new record prices were reached in Cardiff, Bristol, Northamptonshire and Cambridgeshire, as growth spreads out from the capital and reaches across the rest of the country.

“Annual growth in house sales slowed in May, potentially as a side-effect of the Mortgage Market Review (MMR) rules introduced at the end of April that have lengthened the mortgage approval process.

“There are other indications of a cooling in the market – particularly at the top end of the spectrum in London. In total, twelve London boroughs have seen prices fall in April, with the exclusive Prime Central boroughs of Kensington and Chelsea and the City of Westminster seeing the largest monthly drop in house prices – down 2.7% and 2.9% respectively since March 2014.

“But outside of the capital, the Help to Buy scheme continues to help first-time buyer demand, the engine driving some of the activity in the regions. If supply could follow suit, this would sustain the housing recovery and could help restore some equilibrium across the country.” 

 

Read the full House Price Index May 2014 here 

Tour de France Coming To Hebden Bridge

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Hebden Bridge is on the route of this years Tour De FranceCalder Holmes Park in Hebden Bridge has been announced as an official Grand Depart Spectator Hub. The family-friendly hub will be able to host up to 8000 spectactors on 6 July and will feature a big screen, spectator entertainment and locally produced food close to the town centre and local transport links. Fans can come early and stay all day, soak up the unique atmosphere of the town, and 'release your inner cyclist'.

We thought it would be a bit of fun to take a look and see what property you could buy in Hebden Bridge whatever your budget.


£525,000

4 Bedroom Detached - Wellside, Hebden Bridge, HX7

Beautiful stone detached family home with open views, and backs onto fields.


£450,000

4 Bedroom - Wadsworth, Hebden Bridge, HX7

Detached family home constructed in 1910, elevated location with stunning valley views.

 

£325,000

4 Bedroom - Palace House Road, Hebden Bridge, HX7

Victorian terraced property within easy walking distance of the train station and centre of Hebden Bridge.

 

 

£275,000

3 Bedroom - Cragg Vale, Hebden Bridge, HX7

18th century semi detached cottage, (2 cottages converted into 1) with private rear garden backing onto farmland.


Offers in the region of £150,000

2 Bedroom - Lower Chiserley Billy Lane, Hebden Bridge, HX7

A character property with lots of period features, in the heart of the countryside, but close to amenities. Stunning views across the valley.

 

Home lending cools in May

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  • House purchase lending falls to lowest monthly level since June 2013 
  • Home lending down 19% in the last four months 
  • High LTV lending climbing with 9,670 high LTV loans in May
  • First-time buyer revival continues, while lending to home-movers declines

House purchase lending has fallen to an eleven month low, as demand slows among home-movers, according to the latest Mortgage Monitor from e.surv, the UK’s largest chartered surveyor.

There were 61,202 house purchase approvals in May 2014, 3% lower than in April and the lowest number since 59,260 in June 2013, after house purchase lending fell for the fourth consecutive month in May.

Since the start of the year, house purchase approvals have fallen 19%, with 14,600 fewer loans in May than in January 2014. However, on an annual basis, May saw a marginal increase in lending, with only 4% more house purchase approvals than in May 2013, when there were 59,075.

Richard Sexton, director of e.surv chartered surveyors, explains: “The mortgage market is losing some steam and undergoing a gentle cooling, as demand begins to simmer among homeowners. Uncertainty is one factor affecting home-movers. Some buyers are waiting to see if the market will begin to plateau before agreeing to pay the high price tag on new property. And that’s before adding in other moving expenses such as stamp duty.

 “MMR triggered the beginning of the slowdown. It took time to integrate the rigorous financial tests into the mortgage application process, and to train staff in the new procedures. But as MMR becomes further bedded down into the lending process, it is having less of an impact. The continued slowdown comes off the back of falling demand among buyers further up the ladder – some of whom now see the home-buying process as too costly. This is not a cause for concern and the figures do not support recent media hype regarding a property bubble.”

Read the full e.surv release here

Logo for the Estate Agency Foundation, combating the causes of homelessness

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