The April Property Bulletin from Reeds Rains

A guide to determining the value of your home

It's only natural that you would like to gather a fair amount of background knowledge before booking a property valuation.

For the vast majority of us, owning a home will be one of the most significant financial investments we'll ever make. Therefore, maximising its worth is critical if we want to move up the property ladder.

We've taken this opportunity as your local experts to explain some of the key aspects of the valuation process so that you understand exactly what you're receiving and why.

What does 'property valuation' mean?

A property valuation is an analysis of your home's worth. A variety of considerations, including the type and size of the property, its condition and location, as well as the seasonal and national trends in the local property market, are all factors taken into account.

It is a good idea to have a local agent conduct your valuation. They will know the local market and be able to target buyers in that area with effective marketing, which will lead to more viewings.

Why is it crucial to obtain an up-to-date valuation?

While you may not be ready to sell right now, it's a good idea to keep a close eye on your local market.

Knowing your home's worth can also mean that when you feel it is the time to sell, you'll be prepared and ready, saving you time and energy right from the beginning of your property journey.

Whether you're looking to sell now or in the future, you can book your up-to-date property valuation on our website.

How to speed up the purchase of your ideal home

Buying a home is a very exciting time, so it’s in everyone’s interest to speed up the process. There are specific steps you can take to steer things in the right direction.

Know your stuff

A house is likely to be the biggest purchase you'll ever make, which means certain legalities are involved. Getting your head around the key terms will help you communicate easily with estate agents and solicitors.

We offer a comprehensive set of services including conveyancing, insurance and our partnership with Embrace Financial Services, which ensures that we can support you along every step of your journey.

Organise your finances

Once you feel confident about progressing, it’s time to weigh up your options. Should you sell before you put in an offer? While you’ll be a chain-free buyer, you’ll have to factor in storage costs and rent while looking for your ideal home.

Communicate clearly

So, you’re ready to make an offer. If the seller accepts, arrange a date for exchanging contracts and communicate your requirements to your solicitor clearly, so everyone stays on the same page. On that note, make sure you respond quickly to any requests to prevent holdups.

Of course, you will need a trusted partner with expert local knowledge to help you sell your current home or buy a new one. That’s where we come in.

You can contact us to discuss your options, or head over to our website to explore our current properties.

Soaring demand continues to push rent prices higher

According to a recent market report by a well-known property portal, the current demand for rental homes is a staggering 76% higher than during the same period between 2018 and 2021.

As demand continues to outweigh supply, we truly have a perfect storm that is, in turn, pushing up rent prices across the UK.*

Tenants can now expect to pay around £969 per month, which equates to an extra £744 per year compared to pre-pandemic prices.

With supply currently unable to meet demand, landlords are in a strong position and should remain so for the foreseeable future. Rental properties are only taking an average of two weeks to let, making it easier than ever to attract the right tenant in a very short time frame.

Predictions show that rents will rise by 4.5% across the UK over the coming year, so if you’re thinking of letting your property, now is the perfect time to capitalise on the expected market growth.

Ready to discover how much you can secure for your rental? Book your valuation today.

*Zoopla

Helping our landlords navigate the changing regulations

Being a landlord is a rewarding way to secure your income while providing quality housing for tenants. However, according to a recent survey, 24% of landlords feel overwhelmed keeping up with changing regulations.

The main reasons landlords felt this way included finding the rules confusing and a lack of access to legal advice. For example, 16% didn’t know about licencing scheme changes, 12% were unaware of the new requirements for smoke and carbon monoxide alarms, and 10% had missed the news regarding proposals for minimum EPC standards.*

Keeping up-to-date with every announcement and making the necessary changes to your properties can feel like a full-time job. This has a knock-on effect on landlords’ mental health, with over half of those surveyed admitting they’d taken time off work.

So, what’s the easiest way to enjoy the benefits of being a landlord without the stress?

Other than carrying out time-consuming research, reading trade publications, and enlisting the advice of a lawyer, the survey showed that almost a third have a letting agent to help. 20% also believe employing a managing agent would make life easier.*

It’s certainly true that working in partnership with a trusted local agent can help you simplify the process of letting your property, especially if you manage a portfolio.

Whatever your situation and long-term plans, we’re here to help. Contact us to learn more about our services and arrange a lettings valuation.

*DirectLine