Reeds Rains Property Blog

Property News from Reeds Rains

Cracking Community Spirit

by

 Jan Johnson - Halifax branch manager

Branches across Reeds Rains are enjoying Easter by supporting their local primary schools through a very special Easter competition.

Halifax, Morley and Bamber Bridge provided Easter packs for the pupils which included a blank Easter egg template the students were asked to design along with an invitation to valuation flyer for the parents.

The students created their own Easter themed picture for the competition and over the Easter holiday, the artwork is being displayed in the branches. The branches are welcoming parents to see for themselves the work which their kids had done.

Prizes are available where the winner will receive a £25 Smyths Toy Voucher and the runners up an Easter egg. (*)

The competition is part of the Reeds Rains drive to support the local community and create greater links with it.

Cairn Morrison, the Morley branch manager for Reeds Rains says: “The pupils really enjoyed the competition and the Easter egg designs look fabulous. There are so many designs to choose from and picking a winner is difficult. We managed to hold the competition with 3 local primary schools who have been very supportive and we have found this a great way to engage with the local community.

If you would like to find out how Reeds Rains can help you buy or sell your property then visit:

Reeds Rains Halifax, 16-18 Bull Green, Halifax, HX1 5AB
Telephone: 01422 348989 (**) 

Reeds Rains Morley, 88 Queen Street, Morley, Leeds, LS27 9EB
Telephone: 0113 252 0181  (**)

Reeds Rains Baddeley Green, Stoke-On-Trent, ST2 7HA
Telephone: 01782 544133 (**) 


(*) Terms and Conditions - The competition will run between Monday 16th March and Thursday 2nd April 2015 and is open to children between the ages of four and eleven. The 1st prize is a £25 Smyths Toy Voucher. Each of five runners up will receive an Easter egg. To enter, simply use this template to design an Easter egg. Only one entry per child. Winner will be decided by Reeds Rains branch staff. Prizes will be awarded in assembly after the Easter holidays. The promoter is Reeds Rains.

(**) Calls may be recorded for training and/or monitoring purposes. 

First Time Buyer Opinion Barometer - March 2015

by

First-time buyers demand housing action as half are forced to consider homes with no natural light

  • First-timers increasingly willing to compromise living space to get on the ladder: 51% say natural light isn’t vital in a first home, 63% would go without a bath, 93% happy without an ensuite bathroom
  • First-time buyers want to clamp down on land banking and make it easier to convert buildings to residential use, while one in ten want to build over high streets and golf courses
  • However, February sees 21,000 first-time buyer completions, up 11% from 19,000 in January

The housing crisis is creating growing anger and desperation among would-be first-time buyers, with over half now willing to forgo natural light in their search for an affordable first property, according to the latest First Time Buyer Opinion Barometer from Reeds Rains.

When asked about the requirements that they consider to be ‘vital’ in a first home, only 49% of first-timers cited natural light as essential. Just 54% said a garden as mandatory, and 55% a car parking space.

With the average price of a first-time buyer home now £143,767 as of February, first-timers are more willing to sacrifice spaces including garages, dining rooms and utility rooms in order to save on costs. 

Just 7% of first-time buyers said an ensuite bathroom was an essential requirement to a first-home; while 14% said a garage was mandatory, and just a third (30%) viewed having a dining room as vital. Staggeringly, 11% of first-time buyers said a kitchen wasn’t vital in a new home.

Adrian Gill, director of estate agent Reeds Rains, comments: “First-time buyers are willing to sacrifice space and comfort in their quest to buy a first home. But this shouldn’t be such an arduous task – these findings should send a warning flare out to our politicians that many first-timers are tripping up along the path to homeownership, despite much improved access to finance. 

“There is only a finite stock of housing on the market, and unfortunately, first-time buyers are the least prepared in the current scramble for property. The lion’s share of new housing policy has been stoking demand, rather than supplementing supply, with the Help to Buy ISA the latest in a host of flagship first-timer policies. But building initiatives remain largely untouched, leaving enormous potential to revise and improve housing policy.

“Of course, there is a flipside. Such strong buyer demand means now is a fantastic time for sellers to put property on the market, with affordable properties likely to be snapped up quickly.”

In their bi-monthly survey, Reeds Rains asked first-time buyers what policies they would accept to encourage more housebuilding. Four in ten first-timers (41%) would accept legislation to prevent land banking – when developers buy a plot of land for development but don’t build on it straight away. And over a third (37%) think it should be easier to convert existing buildings to residential use.

An invitation to join the Reeds Rains Buyer and Sellers Event

by


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

by

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

by

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

Reeds Rains Blog

Welcome to the Reeds Rains Property Blog

Category list

RecentPosts

Calendar

<<  April 2015  >>
MoTuWeThFrSaSu
303112345
6789101112
13141516171819
20212223242526
27282930123
45678910

View posts in large calendar
Logo for the Estate Agency Foundation, combating the causes of homelessness

You appear to have Javascript disabled. Some of this site’s features require Javascript to function.