Reeds Rains Property Blog

Property News from Reeds Rains

Reeds Rains Waterlooville office celebrate successful branch launch event

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Sales and lettings agency, Reeds Rains has been celebrating the recent refurbishment of their Waterlooville office by hosting a special launch event. The event welcomed customers, new and existing along with local businesses to see for themselves the great improvements made to the office.

The office, situated at 226 London Road, Waterlooville, Portsmouth has been updated with modern new furnishings and high tech LED displays to enhance the on-going display of properties which is a popular feature with the residents in Waterlooville. Inside the office, 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 can been seen as a key feature within the office.The branch enjoys strong local links with the Under 8s Waterlooville Boys Football Team and as part of this sponsor the local club. Oscar Horsfall and Ethan Horsfall attend the club and officially opened the new office. 

Martin Archbold, Branch Manager says: “It was great to welcome so many people to the launch event. The new office makes the staff feel a sense of belonging and pride that they work for a company who is clearly committed to the staff and local community.

Thank you to Oscar and Ethan. You did a great job opening the office, well done lads.”

Attendees at the event also included: Regional Operation’s Director Tim Gould, Financial Services Manager Gary Nestor, and Lettings Area Manager Lee Hudson. If you would like to find out more about how the local Reeds Rains team can help you please contact them at 226 London Road, Waterlooville, Portsmouth or call them on 02392 254321 (*)


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

First Time Buyer Opinion Barometer - May 2014

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First-time buyers climb 8% in April, despite MMR

  • 47% annual rise in first-time buyers, boosted by Help to Buy
  • Average first-time buyer deposit falls 7.5% in last year – over £2,000
  • The majority of first-time buyers believe MMR to be a positive step for the market

The number of first-time buyers grew 8% in the month to April and 47% year-on-year, despite the introduction of MMR, according to the latest First Time Buyer Opinion Barometer from Reeds Rains, part of LSL Property Services.

There were 26,300 first-time buyer transactions in April 2014, up 8% from 24,400 in March 2014.

Compared to last year, the number of first-time buyers was 47% higher in April 2014, with the revival in new buyers aided by the Help to Buy Scheme, which has facilitated more high loan-to-value lending. First-time buyer deposits fell 7.5% year-on-year to £24,618 in April. It was equivalent to a drop of over £2,000 from £26,623 in April 2013.

1 in 10 first time buyers (11%) say the financial assistance of Government schemes such as Help to Buy enabled them to get their foot on the property ladder.

David Newnes, director of estate agents Reeds Rains, part of LSL Property Services group, said: “The tightening of mortgage criteria hasn’t dampened the appetite for first-time-buyer property. Many more new buyers are making the jump onto the property ladder, while deposit Lack of a cash deposit remains the biggest obstacle to homeownership for prospective buyers, with 44% of tenants reporting that saving a deposit was a factor prohibiting them from buying this April. The second most common constraint preventing tenants buying was the high transactional costs like stamp duty and legal fees (16%). Only 10% of tenants say they are worried an interest rate rise will push up mortgage repayments in April, down from 13% in February 2014.  Other concerns included insufficient income to support a mortgage (15%), possibilities of future unemployment (7%), falling house prices (4%) and decreasing income (4%).

Read the full First-Time Buyer Opinion Barometer here - 2014 here

Fun Home Projects – Design Your Own Ceramic Mug or Plate

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image source: http://www.gimmesomeoven.com/style/diy-mothers-day-mug/

This is a really fun and simple project that the whole family can  join in. Let the children create their own personalized cups, make gifts for friends and family, put your favourite quotes on a set of coffee cups, the ideas are only limited by your imagination.

 

You need:

  1.  Ceramic cups or plates
  2.  Ceramic pens (also known as pottery pens and porcelain pens). They come in a variety of colours and can be purchased for only a few pounds for a set.
  3.  HB Pencil
  4.  Scissors
  5.  Sticky Tape
  6.  Baby wipes
  7.  Tissue paper or tracing paper

 

Step 1: Draw your design on to the tissue paper with a pencil

Once you get confident you can draw straight onto the cup or plate.

Step 2: Turn tissue paper into transfer paper

Turn over your sheet of  tissue paper, and scribble over the back of your drawing. This will deposit a layer of graphite, so you will be able to transfer the designs.  

Step 3: Transfer the design

To keep your design secure, tape it to your mug or cup (drawing side up). Trace over the lines of your drawing with the pencil, taking it carefully so you don’t rip the tissue paper. Once you have gone over all the lines, remove the paper. 

Step 4: Trace over the design with ceramic marker

If you are using ceramic markers for the first time, just test them on some scrap paper first.  Once the ink is flowing, carefully trace over your design.  If you make a mistake you can use the baby wipes to erase it. 
 
Step 5: Let it dry

Allow the finished mug to air-dry overnight.  Check your ceramic pens for instructions, some just need 24 hours, others a bit longer.  Some brands also require baking for 30 minutes to fix the paint.  Once the ink is fixed it is ready to use.

 

Check out our pinterest board for more  ideas http://www.pinterest.com/reedsrains1868/diy-painted-ceramics/

 

 

What Landlords Need to Know Before Doing Any Home Improvements

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As yet another bank holiday approaches, your mind may be turning to home improvement.

Given the damp and cold conditions of last winter, this is a timely opportunity to check your properties for water tightness.

The options are either to do this yourself, or pay a professional to do the task.

If you intend to tackle improvements yourself, ensure that you are fully aware of your legal position.

Services such as gas and electricity, glazing and aspects of work that affects drainage and connection to the water mains usually require a sign-off by competent bodies who can legally authorise the work and some by your local Building Control Officer’s.

Individuals may carry out work such as fitting flooring, painting and decorating, tiling, fitting a bathroom or kitchen and any form of carpentry.

Those who are inexperienced must establish that they have the relevant skills and are realistic about time-scale.

Fitting laminate flooring, for example, may appear straightforward, but did you realize that the flooring must be left in the intended room for up to 48 hours before laying; this could take half of your planned holiday. It is also vital to consider whether your limited free time is best used in undertaking such projects.

Even small jobs can go awry, especially when working to a deadline. The outlay of an extra few hundred or thousand pounds on employing professionals to improve your property enables you to enjoy your leisure time.

 

RR Your local Reeds Rains office can assist you in finding reliable professionals to improve your home or investment property. Call 0845 450 0865* or email Landlords@ReedsRains. co.uk 

Buy-to-let index - May 2014

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Rent rises drop to less than half inflation 

  • Annual rent rises fall to just 0.6%, less than half the latest rate of CPI inflation (1.6%)
  • Rent rises total 12.9% since January 2010, but less than cumulative inflation of 14.5%
  • Tenant finances improve in April, as late rent drops by £18 million since March

Rent rises across England and Wales have slowed to less than half the current rate of inflation, according to the latest Buy-to-Let Index from LSL Property Services plc, which owns the UK’s largest lettings agent network, including national chain Reeds Rains.

David Newnes, director of estate agents Reeds Rains, part of LSL Property Services, comments: “Proposed reforms to the private rented sector are clearly well-intentioned, but will not help the rental market.  For a number of reasons, tenants would be worse off if all the proposed changes were imposed.”

David Newnes continues, “Private renting is not in any form of crisis.  Not only are rents rising more slowly than inflation, but the cost of private renting is also rising in line with household incomes.  Even before the economic weather changed so recently, the last few years have seen rent rises dwarfed by inflation most of the time.  Meanwhile the private rented sector has absorbed millions of households while other tenures have been unable to take up the slack.

“Poorly thought-through proposals could throw a spanner in the works.  Firstly, rents would be higher. When tenant fees were banned in Scotland rents rose 4% in the space of six months.  This is ten times the rate of rent rises in England and Wales over the same six month period, where such a ban had not been introduced.   Before this they were mostly flat.

“Secondly, the equal treatment of potential tenants would also suffer.  If tenant fees are banned and the landlord and letting agent have to bear the cost, there is every possibility letting agents and landlords will start pre-vetting tenants.  Furthermore, if tenants have no advance financial commitment then there is nothing to stop them pursuing multiple tenancies at the same time and just taking the first one that completes, dropping the others.

“Finally, it should be remembered how not all landlords are ‘fat-cat investors’.  Many only have one property used as their pension.  Others are ‘accidental landlords’ and rely on the rent to pay their mortgage.  If tenants drop out at the last moment, this could mean hardship.  Missed mortgage payments would lead to possible repossession.  New landlords would be wary of entering the market or extending portfolios.  Many would exit – and again that would be bad for tenants.

“Far more effective would be if politicians focused more on encouraging the supply of new homes.  Parliament should be debating how to help increase investment in the private rented sector even further”

David Newnes continues: “Improved mortgage lending is helping landlords to expand their portfolios in many areas of the country.  And while every corner of England and Wales has its own local market, the overall trend is clear.  Landlords are prospering – and tenants are feeling a parallel benefit.”

Read the full Buy-to-let Index - 2014 here 

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