Reeds Rains Property Blog

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An invitation to join the Reeds Rains Buyer and Sellers Event

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Eccleshall branch staff

In response to increased activity in the local market and demand for its services, estate and letting agents Reeds Rains has chosen three of their local offices to host a major event dedicated to buyers and sellers. 

Then event is for buyers and sellers to meet and find out about property that is available in the local area and will be held at the following locations:

• Reeds Rains Eccleshall 26th March 2015 - 5.30pm-7.30pm

• Reeds Rains Stone 24th March 2015 - 5.30pm-7.30pm

Reeds Rains Stafford 31st March 2015 - 5.30pm-7.30pm

Nicola Jane Dyson the branch manager for Reeds Rains in Eccleshall says: “We are passionate about property and are excited about welcoming buyers and sellers to our office. Whether you are currently on the market with another agent, a first time buyer or looking to sell quickly, our experts will be on hand to explain a range of topics we think will be of interest. For example, Help to Buy, tips on the best places to buy and how to get the best exposure for your property. We will explain the range of services which are on offer and demonstrate how we match people to the right property.

In Eccleshall, we are also excited to showcase our updated office with its modern new furnishings and high tech LED displays to enhance the on-going display of properties. 


Eccleshall Branch

The new office also features eye catching custom made wallpaper featuring the bespoke railings outside The George Inn reflecting the coaching history of Eccleshall, which reinforces Reeds Rains interest in its local area. 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 be seen as a key feature within the office.

This new office makes it the ideal setting for us to help buyers find the property which is right for them and equip sellers with effective ways to market their property.

All in all we hope the event proves useful and we look forward to welcoming buyers and sellers to find out for themselves what great services Reeds Rains can offer.” 

For further details of the event – or for more information about Reeds Rains generally – simply contact the local teams at:


Reeds Rains Eccleshall 1 High Street, Eccleshall, Stafford, ST21 6BH
Tel: 01785 850241 (*)

 

Reeds Rains Stone 67 High Street, Stone, ST15 8AD
Tel: 01785 813501 (*)

 

Reeds Rains Stafford 11 Mill Street, Stafford, ST16 2AJ
Tel: 01785 258888 (*)

 

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

Smart new home for Reeds Rains Pontefract as office is transformed

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Reeds Rains - Pontefract

In response to the increased activity in the local market and demand for its services, Reeds Rains has chosen its Pontefract office to benefit from a major refurbishment.

To celebrate, they are holding a launch party on Wednesday 11th March 2015 from 5.00pm - 7.00pm. 

The refurbishment sees the office extend their services into the building next door to create an impressive new showroom to display the increasing number of properties which are becoming available.  

The office 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 Pontefract. Along with this, the office also features the new Reeds Rains logo which 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.

 Looking smart - The new showroom

Reeds Rains is based at 24 Beastfair, Pontefract, WF8 1AW and the local team would like to welcome visitors to come and see the new office and provide them with the opportunity to come and talk to industry experts about selling, buying or renting their property. 

Emma Bevan, Branch Manager for Reeds Rains explains: “We’ve had a Reeds Rains office in Pontefract for many years and we’ve been able to help hundreds of customers during that time in selling, buying and renting houses. 

The fact is that Reeds Rains was established more than 140 years ago and at last year’s Estate Agency of the Year Awards, sponsored by The Sunday Time and Times, Reeds Rains won the silver award for Best National Estate Agency and the bronze award for Financial Services. This 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 obvious increase in local market activity.

The fact that we now operate from such attractive surroundings simply adds to our overall appeal and, we hope, demonstrates our true commitment to listening and responding to our customers’ needs and to providing an agency they can not only rely on but enjoy visiting.” 

For more information about Reeds Rains – simply contact the local team at Reeds Rains Pontefract, 24 Beastfair, Pontefract, WF8 1AW  or telephone them at 01977 701891 (*).

Reeds Rains - Pontefract

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

 

First Time Buyer Tracker - February 2015

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Stamp duty changes push first-time buyer  deposits to 18 month high

  • January sees average first-time buyer deposit rise to £29,127, 15% higher than a year ago
  • Average first-time buyer house purchase price tops £160,000 for first time on record
  • First-time buyer completions fall 19% on a monthly basis, due to dip in applications over Christmas

First-time buyer deposits have climbed 15% in a year to average almost £30,000, driven by lower stamp duty bills for new buyers, according to the latest First Time Buyer Tracker from Reeds Rains.

The average first-time buyer deposit was £29,127 in January, up 7% compared to December 2014 and 15% higher than £25,314 in January 2014. First-time buyers are saving the largest amount for their deposit since July 2013, eighteen months ago, as savings from December’s stamp duty changes take effect.

This has also helped drive rising purchase prices for first-time buyer homes, which have climbed to a new record. New buyers paid an average of £160,304 in January, 12% more than £143,343 twelve months ago.

Revisions to the stamp duty slab system have reduced the upfront costs for many first-time buyers, allowing them to divert that cash into a deposit fund. First-time buyers paying the average purchase price would have been liable for stamp duty fees of around £1,600 before the graduated system was implemented, but this would now have been reduced to £700 – saving them roughly £900.

Simultaneously, as wages start to see a significant pick-up in real terms, growing purchasing power is reflected in the average first-time buyer LTV. Loan-to-value ratios have fallen 1.1 percentage points over the last three months, suggesting deflation and growing wages are allowing first-time buyers to put together slightly larger deposits.

Despite this, the average loan-to-income ratio for first-time buyers has risen on an annual basis. On average, deposits now represent 75.4% of a first-time buyer’s income, compared to 70.6% a year ago.

Adrian Gill, director of estate agent Reeds Rains, comments: “A fusion of economic factors is alleviating some of the financial burden of forming a deposit. Wages are starting to recover and inflation has fallen to a record low, meaning buyers have slightly more cash to play with day-to-day. And stamp duty fees were slashed for many new buyers when the government reformed the old slab system, freeing up further funds. It’s still difficult to save – with savings rates tied closely to the low base rate. But it’s easier to put cash aside than it was a year ago.

“However, property prices have pushed a new record for first-time buyers, meaning these extra funds are being diverted directly into larger deposits. Putting together a deposit to buy a property remains one of the most arduous tasks for prospective home-buyers, and schemes like Help to Buy are essential to allow the swathes of buyers reliant on higher LTV mortgages to get onto the housing ladder.”

More details about the First time buyer tracker can be found here

Buy-to-Let Index - January 2015

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Rents 16% higher than in 2010

  • Over last five years, rents have grown by an average 3.0% per year – but just 0.6% annually after inflation
  • In the last twelve months, rents across England & Wales increase by 2.8%, to stand at £763 in January 2015
  • Official measure of rents paid across Great Britain now revised more closely in line with this data
  • Tenant finances see healthy half-decade – 6.8% of rent now in arrears, down from 11.1% in January 2010
  • Landlords see total returns of 11.7% over last 12 months, down from 11.8% as property price rises cool

Rents are now 16.3% higher than five years ago, having most recently risen by 2.8% over the last twelve months, according to the latest Buy-to-Let Index from Your Move and Reeds Rains.

In absolute terms, the average residential rent across England & Wales has grown by £107 since January 2010, to reach £763 as of January 2015.

This amounts to an average annual rent rise of 3.0% over the last half decade. However, this represents a real terms increase of 0.6% per annum when adjusted for inflation over the same period.

Most recently, rents have fallen on a monthly basis, down 0.6% between December 2014 and January 2015. On an annual basis, rents are 2.8% higher than was seen last January.

Adrian Gill, director of estate agent Reeds Rains, comments: “The nature and affordability of UK housing is transforming before our eyes.  In the last five years the private rented sector has successfully absorbed an unprecedented influx of tenants, while rental prices have broadly tracked inflation.

“As ever, the devil is in the detail – but as this growth accelerates, even more investment will be necessary for the industry to keep up. So we need more buy-to-let landlords to help solve the crisis in demand for homes to rent."

More details about the Buy-to-Let Index can be found here

Why are ‘Geeks’ good for landlords?

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Research has revealed that 31% of university students would describe themselves as a ‘Geek’ following a personality survey conducted by UniPlaces. (*)

The indication is that Geek personality types work harder at their studies and put a greater focus on high achieving grades rather than the typical ‘party animal’ lifestyle which can usually be associated with university students. In the survey, only 16% said their personality type fitted a ‘party animal’.

Lettings Manager Kelly Williams for Reeds Rains in Rotherham says: “This should come as positive news for landlords because as more people are showing greater care and a focus on their studies it could mean there is more chance that people with the ‘Geek’ personality type will show care as tenants when looking after a property.

It is not just university students this needs to apply to. There are many other people who are not at university but maybe studying part time and landlords who take tenants with a keen interest in an academic study outside of work can also benefit from reliable tenants.

At Reeds Rains we have a database full of tenants who are looking for a property like yours to rent. We pride ourselves on always acting in the best interests of our tenants and landlords and we would encourage you to come and talk to us find out more details.”

If you would like to find out how Reeds Rains can help you as a tenant or landlord simply contact them at Reeds Rains Rotherham, 16-18 Moorgate Street, Rotherham, S60 2DG or call them on (01709) 363152 (**)

 

(*) http://www.digitalnewsroom.co.uk/uniplaces/2014-the-year-of-the-geek/

(**) Calls maybe recorded for monitoring Purposes

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