Reeds Rains Property Blog

Property News from Reeds Rains

LSL Buy to Let Index - January 2014

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Buy to Let index January 2014 - Reeds Rains Blog

The latest LSL Buy to Let Index for January has been published.  The headline details are

  1. Landlords across England and Wales have seen returns eclipsed by those in the capital, according to the latest Buy-to-Let Index from LSLPropertyServices plc, which owns the UK’s largest lettings agent network, including  Reeds Rains.
  2. London landlords have seen total annual returns of 14.6% in the year to January 2014.  A higher than average return of £38,104 per property in London, which equates to 5 x  the total return per property in  the North East and Yorkshire & the Humber.
  3. Annual returns on rental property in England and Wales, have grown significantly in the past twelve months, to 8.9% in January, up from 5.7% in January 2013. 
  4. The average buy-to-let investor in England and Walescould expect to make a total annual return of 13.0% over the next 12 months, equivalent to £22,256 per property, if rents continue to rise.[1] 

 

 



[1] Assuming house prices change at the average rate of the last three months and they achieve the average yield of 5.2%.

 

December 2013 - Scotland House Price Index

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Reeds Rains Blog - Dec 2013 Scotland House Price Index

LSL Property Services/Acadata Scottish House Price Index for December is published today. Here is a summary of the key trends:

In December 2013 there were 9,050 property transactions in Scotland. This level of sales has a number of significant features.

  1. It represents a 27% increase on December 2012’s total, continuing the momentum in sales that started in June 2013;
  2. It is the highest number of properties sold in the month of December since 2007;
  3. It is the highest number of properties sold in a single month since July 2008 - which was the last month in which sales exceeded 10,000 homes, prior to the slow-down in housing sales resulting from the credit crunch in the financial markets.

The main driver of the expansion in sales in 2013 has been the first time buyer. The mortgage companies eased their constraints on lending to this sector of the market, offering more competitively priced products with lower deposit requirements. This was assisted by the Bank of England’s Funding for Lending Scheme (FLS), latterly replaced by the Help to Buy (Scotland) scheme. The increase in the number of first time buyers, which the CML estimated as being 32% during Q3 2013 compared to the previous year, has had a knock-on effect throughout the rest of the market. With interest rates at an all-time low, this has produced an increase in housing transactions across all sectors, with sales volumes for the six months July – December 2013 up 24% on the same period in 2012.

Read the full Scotland House Price Index for December 2013

6 Iconic Chairs of the 1950's

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1

 

Diamond Chair, 1952-1953
Chromed bent and welded steel
Design: Harry Bertoia

 

2


The Egg Chair 1958
Originally designed for the Radisson SAS hotel, Copenhagen
Designer:  Arne Jacobsen

 

3

 

Wire Mesh Chair, 1951-1953
Bent steel, welded steel
Design: Charles and Ray Eames 


4

 

Rocking Stool, 1954
Painted wood, chromed steel
Design: Isamu Noguchi


5


Eames Lounge Chair No. 670 + Ottoman No.671, 1956
Rosewood-faced moulded plywood, cast aluminium, leather
Design: Charles and Ray Eames


6



Tulip Chair, 1955-1956
Plastic-coated cast aluminium, moulded fibreglass, upholstered latex foam
Design: Eero Saarinen

Reeds Rains Goes Back to the Future for New Customer Concept

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Following extensive research, Reeds Rains has created a new consumer experience in St Helen’s as part of an entire brand transformation, which aims to distinguish the company from its competitors.

The modern, welcoming environment - which boasts an entire wall dedicated to an image of the Dream sculpture - will represent one key aspect of an overall revamp, which also includes a new logo, imagery and a nod to the company’s traditional, solid values and longevity.

The team at St Helen’s aim to build on the levels of trust and reliability associated with the company, which have been cornerstones of the business ever since founder Samuel Rains opened his first office 145 years ago.

Reeds Rains’ Managing Director Oliver Blake said: “To re-launch the brand on the doorstep of where we were founded as a company is no coincidence.

“The foundations of our business are entrenched in the local area and they underpin our modern new concept, which has been a long time in the making.”

Reeds Rains’ research revealed that many house-hunters felt a sense of intimidation when visiting an estate agent, with no discernable difference between competing brands in the market.

Respondents also claimed that estate agents didn’t care about their customers as being unique clients, as they often felt like ‘tiny cogs in a machine which they can’t control.’

Reeds Rains is now taking a lead from some of the UK’s most successful High Street retailers, creating more open spaces, an ambient environment and an overall attempt to break down a ‘them and us’ atmosphere.

The mayor of St Helen’s, Councillor Andy Bowden, will be present to cut the ribbon and other activities will also take place during the evening, including a raffle in aid of the Estate Agency Foundation.

Oliver Blake added: “Customers have told us that the overall experience of visiting an estate agent can feel a little overwhelming."

“Our new St Helen’s design is the first tangible response to this feedback and we feel we have a result that people will really appreciate.”

More information about Reeds Rains St Helen’s.

Reeds Rains Strikes Again in Lettings Industry Award

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Reeds Rains’ extensive efforts to create a memorable customer experience at its network of branches have received the ultimate endorsement, courtesy of a coveted industry accolade.

The historic estate agent has won the silver award for property manager of the year at the Negotiator Awards 2013, to further vindicate its attempts to leave lasting impressions on tenants and landlords alike.

The announcement underlines an ongoing success story for the brand, which includes a 20 per cent growth in turnover and a 14 per cent rise in managed clients in the past 12 months.

Reeds Rains has invested heavily in training and development across all areas of the company, to provide the most professional service possible.

Mark Chatterton, Lettings Operations Director said: “To be recognised by one of the industry’s most influential publications means a great deal to everyone at Reeds Rains.

“We have always prided ourselves on advising confidently in each local area, the types of property on the market and the rental marketplace as a whole.

“Winning this award reassures us that we are continuing to do the right things and on behalf of everyone at the company, we are absolutely thrilled.”

The event, which attracted a record number of entries was hosted by comedian Hugh Dennis, and was held at the Park Lane Hilton hotel in London on November 5.

Mark said: “We believe we provide an invaluable service for landlords and tenants, ensuring that all legal safety obligations are met protecting both parties.

“Routine repairs and emergencies are attended to with speed and care, because we understand that these are an inconvenience to tenants and an unwelcome expense for landlords.

 “It appears that The Negotiator Awards acknowledged these facts when judging, which is great news for us, in such a high profile event that is attended by the nation’s top property agents.”

Reeds Rains’ latest honour adds to a Sunday Times bronze accolade for property management in the national publication’s prestigious lettings agency of the year awards in March during which the judges praised Reeds Rains excellent rent collection facility and low default rates. 

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

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