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Reeds Rains rebrand heralds major step forward for the local team

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Reeds Rains rebrand heralds major step forward for the local team  – blog article from Reeds RainsReeds Rains Morley

In response to the increased activity and demand for its services, Reeds Rains has chosen its Morley office to benefit from a major refurbishment. They are holding a special launch party at Reeds Rains Morley, 88 Queen Street, Morley, Leeds, LS27 9EB on Tuesday 21st July from 3.00pm - 7.00pm with drinks and nibbles and they are inviting everyone to come along and see the branch, meet the staff and get advice from industry professionals. 

The new office features eye catching custom made wallpaper highlighting the Morley leisure centre on Queensway, 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.

Cairn Morrison, branch manager for Reeds Rains in Morley explains: “We’ve had a Reeds Rains office in Morley for many years and while we’ve been able to help hundreds of customers during that time in selling, buying and renting houses it’s only now - as the brand is going through a major transformation - that we are celebrating. 

 

Invite

The fact is that Reeds Rains was established more than 140 years ago which in itself brings the peace of mind and reassurance that, we know, many people seek when choosing an agent. By combining this with our great local team who have vast experience in residential sales, lettings and financial services; we think we’ve got a winning combination. And it’s this, as well as our new refurbishment, that we think puts us in the perfect place to respond to the increase in local market activity.

We're just delighted to see Reeds Rains take such a major step forward in rebranding itself at a time when there is a lot of interest in the property market. 

This provides us with a great opportunity to really stand out from the crowd and encourages not only sellers and landlords to market their properties through us but also, of course, attract the buyers and tenants they need. 

The market itself seems to have a greater enthusiasm and confidence generally from people looking to buy or rent. We now believe we not only have the products and services to support them but also a more visible and eye catching brand to help in the promotion of properties — which is good news for all.” 

If you would like to find out more about how the local Reeds Rains team can help you please contact them at the 88 Queen Street, Morley, Leeds, LS27 9EB or call them on 0113 252 0181. (*)

 

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

First Time Buyer Tracker - June 2015

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First-time buyers squeezed out as deposit costs rise

  • May sees 22,200 first-time buyer (FTB) transactions as sales drop 18.1% compared to 27,100 last year
  • This makes May 2015 the lowest May for first-time buyer transactions in three years
  • Average first-time buyer deposit climbs 4.2% year-on-year to £25,134 as purchase prices rise
  • Comes despite rock bottom average mortgage rates and repayments falling as a proportion of income

This year (2015) witnessed the lowest May for first-time buyer completions in three years as the election temporarily stalled the market and deposits costs climbed, according to the latest First-Time Buyer Tracker from Reeds Rains. 

The number of first-time buyers completing property transactions in May has fallen by over 18% compared to the same time last year. There were 22,000 transactions in May 2015, 18.1% lower than May 2014’s figure of 27,100.

May’s figure is 0.9% lower than April’s figure of 22,400 first-time buyer completions. May did see significantly more sales than three months ago (+16.2%), but February’s figure of 19,100 represents a seasonally quiet time of year.  

On top of the uncertainty surrounding the election, first-time buyers are facing the need for growing deposits both in real and relative terms. As of May, the average deposit for a first-time buyer stands at £25,134, up 1.7% on the previous month and 4.2% on a year ago. Moreover, the average deposit as a proportion of income is on the rise for the first time house price over the same period was £201,292. Nationally, the average price for a first-time home stood at £155,356 in the three months to May 2015. The North East and Northern Ireland are the least expensive regions for first-time buyer properties, with average prices standing at £112,388 and £107,906 respectively.

On average, Londoners put down a deposit of £69,040 in the three months to May 2015 – more than five times the size of the average first-time buyer deposit in the North East (£13,283). Despite having the second-highest average purchase price, the South East only possessed the fifth-largest average deposit cost. The East of England is the region with the second-largest deposit, coming in at an average of £49,135 in the three months to May 2015. First-time buyers in Wales need the third-largest deposit (£27,668), despite being one of the less expensive areas in the country for first-time buyers.

Adrian Gill, director of estate agents Reeds Rains, comments: “Despite record-low mortgage rates, a growing economy and the start of significant wage growth, the uncertainty surrounding the election seems to have triumphed, albeit momentarily. Many pundits predicted a hung parliament, and this political confusion seems to have caused many would-be first-time buyers to keep their powder dry in the run-up to May – until it became clear what the government was and what its housing policies were going to be. 

“A second and more permanent root to the disappointing first-time buyer figures is the challenge of cultivating a deposit. Many first-time buyers are still on tight monthly incomes, struggling to save while savings rates stay so low. Meanwhile, deposits are rising primarily as property prices continue their seemingly unstoppable upwards march. This is wholly due to a lack of housing supply versus a stack of housing demand. If we want to see property prices stabilise and deposits fall as proportions of income, the Government must address the housing supply problem, for which there is only one solution: build more homes.” 

Read the full details here

Reeds Rains wins silver at prestigious letting agency awards

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From the left: Paula Radcliffe English long-distance runner, Corelia Moseley national lettings director Reeds Rains ,Oliver Blake managing director Reeds Rains, Sharlene Palmer, corporate accounts manager Zoopla

 

Reeds Rains has been successful at the Lettings Agency of the Year Awards 2015 where it won Silver for Best National Lettings despite tough competition from some of the leading names in the market. The Awards, sponsored by The Sunday Times and Times, are some of the most sought after in the lettings industry and to be acknowledged as a winner is seen as a major triumph and reflects the professional services available for tenants and landlords from Reeds Rains.

The award is testament to the fact that Reeds Rains combines the best services that would be expected of a large corporation but with the more personal approach of a small independent agency. Customers for example, can be assured that they will obtain advice so that they fully understand the contracts and their obligations with the added advantage landlords will know the tenants will be reliable residents paying rent on time. 

The judge’s report from the awards commented on Reeds Rains’ national approach to lettings: “Reeds Rains’ overriding belief is one of providing local expertise, and the directors endeavour to stay true to the principles put in place by founder, Samuel Reed, nearly 150 years ago. Investment in technology and internal infrastructure has improved the customer experience and the team is committed to providing outstanding customer service. They have updated the website and there is an extensive branch refurbishment programme currently in progress. Value added services include extended opening hours, flexible viewing appointments and a single point of contact for property management. Their Landlord and Tenant portal gives clients online access from any device so they can see payment statements, copies of key documents and progress of maintenance issues. Employee confidence has improved as they have access to the right tools to get the job done, and can deliver on the brand philosophy of offering clients the reliability of yesterday with the relevance of today.”

Corelia Moseley national lettings director at Reeds Rains in says: “These awards emphasise Reeds Rains as a professional residential letting agent landlords and tenants can trust. We take full responsibility for every client interaction so as a landlord you can be reassured we will manage and protect your investment, and as a tenant, you have a hassle free route to renting a home. Tenants can take advantage of the many rental properties we have on offer across the UK. The award is a testament to our genuinely interested approach towards customers which drives our best in class customer service”. 

If you would like to find out how the Reeds Rains team can help you as a tenant or landlord, then visit www.reedsrains.co.uk to find your local Reeds Rains branch.

Mortgage Monitor - June 2015

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House purchase approvals slow in May

  • May sees 57,800 house purchase approvals, 15.1% lower than April and lowest monthly total in 2 years
  • Monthly dip reflects temporary hesitance to buy property in run-up to General Election
  • April figures artificially strong as high-end buyers rushed to buy before a potential Mansion Tax

May saw the largest monthly drop in mortgage approvals in five years, as the General Election appears to have caused pause for thought, according to the latest Mortgage Monitor from e.surv, the UK’s largest chartered surveyor.

There were 57,813 house purchase mortgage approvals in May, 15.1% fewer than the 68,076 recorded in April, As a result, May represents the quietest month for house purchase lending in over two years, with the lowest monthly volume of house purchase approvals since April 2013 (55,573).

Previously, April saw a 9.9% monthly increase as high-end buyers pushed through sales in an attempt to circumvent the threat of a potential Mansion Tax.

Read the full report here.

It's cool, it's private, and it’s unusual. People visit the house and have man-cave envy

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Man Cave - Pool Room

Research from Reeds Rains estate and lettings agent has found that 62.5% of people surveyed have a man cave, with 30.7% choosing their basement as the main location. Other popular rooms include: The garage 15%, loft 12.8% and out buildings 12.8%. (*)

A man cave is a male sanctuary, such as a specially equipped garage, spare room or basement where men can ‘do what they like’ without upsetting any female feeling.

John Wetherell regional operations director for Reeds Rains explains: “Basements tend to be under used spaces which are often left for storage and are ideal for converting into a man cave. We are visiting more properties where spare rooms are being used as spaces for man caves and this is growing in popularity. 

When the survey asked, what is it about a man cave that is so appealing? Some of the popular responses included: “It's cool, it's private, and it's unusual. People visit the house and have man-cave envy”, “peace and freedom to do as I wish”, and “it keeps him out of the way”.

Man Cave - GYM

Man caves are great because they give you the space needed to unwind after a long day at work, provide all your creature comforts and are a quiet place where you can retreat. 

Modern man caves are becoming integrated into main rooms of the house and may increase the value of your home. Creating a game room, basement bar or a theatre room also generates a retreat which everyone can enjoy and becomes a great space to host parties, or for some, simply a place to enjoy Father’s Day.”

If you would like to find out how the Reeds Rains team can help you buy or sell your property, then visit www.reedsrains.co.uk to find your local branch.

 

What is it about a 'man cave ' that is so appealing?

Popular answers from the Reeds Rains survey include:

  1. It's cool - it's private - it's unusual. People visit the house and have man-cave envy
  2. The epic parties
  3. It's my space for bikes cars and mechanical things which my partner does not want in the rest of the house
  4. Keeps him out of the way
  5. Peace and freedom to do as I wish
  6. it is mine to share with whomsoever I want
  7. Away from the day to day life.
  8. Own little space  away from the noisy little zoo I live in, I can treat it how I want and no one can moan at me.
  9. My own space
  10. Can get away and enjoy juvenile banter with my mates yet not get nagged at for being out by the Mrs!
  11. Time to myself
  12. My space. No need to be tidy
  13. I need the space for projects and doing them in the house isn't sensible (noise, dust, etc). But it's my space to organise as I like. As is my study - is that another cave?
  14. Being noisy and undisturbed !
  15. A place to be indulgent, just for me.
  16. Because you can make your own make on a room with all your own gadgets and gizmos and do it the way you want, not the missus!

 

Man Cave - Workshop

(*) Reeds Rains online survey - 40 respondents May 2015

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