Reeds Rains maintains its success despite challenges faced by estate agents across the country.
House prices seem to be taking up much of the news recently, primarily due to their meteoric rise over the last few decades. However, some areas of the UK have actually seen house prices tumble in recent months, bucking the trend of constant rises that have plagued first time buyers across the UK. It’s the job of estate agents such as Reeds Rain to ensure that buyers are getting the maximum value when selling their house, so the news could pose a challenge to the successful franchise.
According to YourMove’s house price index, July 2018 actually became the fifth consecutive month to see property values fall in England and Wales. Some areas of London have been hit hard, with prices in the City down a huge 19.4% from last year and Hammersmith and Fulham dropping by almost 12%. Outside of the capital, the second worst affected area was Halton in the North West, where prices fell an average of 6.1% when compared with last year.
However, not all areas saw price drops, with West Berkshire’s prices rising by around 11.5%, Merseyside’s increasing by 2.5% and several areas in Wales are also benefitting from rising prices.
Reeds Rains’ Managing Director, Oliver Blake, commented on the price shifts, expressing his belief that the market is still strong despite any challenges it may face.
“Whilst the market continues to be challenging, all regions and most local authorities continue to show house price growth, proving its resilience.”
His belief in his franchise isn’t misguided, as Reeds Rains has won 9 titles at The Sunday Times Estate Agency of the Year awards. Established in 1868, the estate and letting agents has survived through economic downturns, recessions and even two wars, so a slight dip in house prices isn’t likely to phase any of its dedicated franchisees.
Sophie Cole, Point Franchise ©
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