West Coast news Summer / Autumn 2011
Welcome to the summer/autumn edition of Rettie & Co's West Coast newsletter, keeping you up to date with our news and views, what's happening in the local property market and how we can help you.
Positive signs in the Glasgow housing market
Following some negative press over the summer about the Scottish and specifically Glasgow housing market, Maitland Walker of Rettie West End LLP felt obliged to speak out, as the statistics used were fairly misleading.
"Across the company we are currently experiencing a healthy level of viewings and whilst it may take longer these days for buyers to make a decision, sales are still happening and here in the West End especially we have had a positive July so far.
“I’ve been in the property market for over 25 years and there is no doubt that the nature of the housing market has changed – nowadays it’s all about hard work and making sure you get the right deal for the client. In this context, yes, the seller may well be taking a little less for their property in some instances, but they are also sometimes spending a little less on their next property, so the sale transaction is still a satisfactory one overall. I would stress however that many prices remain stable.
“People are also buying for different reasons which will inevitably have a long term effect on the market – rather than as an investment or career choice, people are now predominantly moving for the normal family reasons – after all, at the end of the day your home is a roof over your head and that is what we’re getting back to."
Back to school
Historically activity levels in the residential property market have been ruled by school holiday periods and the seasons. The busiest times have generally been the spring months of April, May and June or the autumn season of late August, through September and October.
However, for the last three years the traditional activity patterns have been significantly disrupted by political and economic events. Last year the general election followed by the austerity budget had a cooling influence on two traditionally busy months, but by contrast July and November of that year were very busy. This year the summer holiday months of July and August were pleasantly busy, but lead into a quiet September as the ongoing issues with Europe continue to dominate the news.
In the modern age of 24/7 media, the activity rates of residential property fluctuate on a weekly basis and are no longer tied to traditional periods. This change is further enhanced by the increasing dominance of internet marketing and online communication channels that enable buyers to continue their searches 24/7, and for agents to negotiate deals at any hour of the day, 7 days a week. In the modern market the traditional seasons are diminishing in their relevance, however, there is one seasonal factor which can still dominate... snow!
Gleneagles opens its greens to raise money for charity
Over 100 keen golfers, including former First Minister Jack McConnell and Rettie & Co's Maitland Walker, took to the King’s and Queen’s courses at Gleneagles to raise a massive £38,000 for leading children’s charity, Action for Children Scotland last month.
26 teams battled it out at the exclusive resort before Kingennie Associates Ltd and the Chairman’s Team were named champions and awarded the coveted Action for Children trophies.
Maitland Walker, (pictured here on the right), a committee member for Action for Children Scotland, said, "This is the first year Rettie & Co have been a sponsor of the golf day and I was delighted to take part. I look forward to continuing our support for this worthwhile charity that helps our country's most vulnerable and neglected children, young people and their families."
For information on next year's event, or to find out more about Action for Children and their work in Scotland, contact Lisa Montford on Lisa.Montford@actionforchildren.org.uk
Rettie win gold at Lettings Agency of the Year Awards
Rettie & Co were delighted to be amongst the winners at this year’s prestigious Lettings Agency of the Year Awards, presented in London last week.
On receiving a Gold award in the category of ‘Best Small Scotland Lettings Agency’, Rettie & Co’s Director of Letting & Management Diarmid Mackenzie Smith said “this award is a fantastic achievement for us and validates our aim for exceptional customer service. We are especially proud to be the only winner in the Scotland region.”
The Lettings Agency of the Year judges commented on Rettie & Co’s service: “One of the few RICS accredited agencies in Scotland, Rettie & Co. provide an exceptionally professional service to landlords and tenants. Each member of staff manages just 35 properties, a fact which clearly demonstrates the personal quality of the service. Its award winning website contains links to 10 other informative websites providing a wealth of information to clients. Landlords and tenants are given 24 hour access to staff should they need it and client testimonials show they are highly satisfied with the service they receive. Great importance is placed on compliance and conduct and the judges were impressed by the dispute resolution process of this company. 100% of viewings are accompanied 7 days per week reinforcing their message of ‘doing the right things on a daily basis’. This gold award is well deserved.”