Reside Newsletter

Reside Stockport opens, our 10th birthday bash, The Blade and and end of year recap

Reside Stockport

We are pleased to announce that Reside Stockport is up and running!

Rhiannon, Reside’s Sales and Marketing Director was in charge of interiors for the new office and wanted to ensure that, like the Manchester Deansgate office, the Stockport branch had a contemporary feel, echoing Reside’s contemporary company ethos. “Our goal was to cultivate a relaxed and comfortable atmosphere in the office, catering to both our team and clients. Despite the open-plan layout, we have strategically divided the space, incorporating dedicated workstations with desks whilst also establishing a welcoming lounge area. This lounge space provides an inviting setting where we can engage with clients in a more informal and comfortable setting, away from the structured environment of our desks.”

In charge of the office is our Branch Manager, Ellie, who is working alongside Isobel, our Sales and Letting Consultant, plus members of the Deansgate office throughout the week. As part of Reside’s expansion plan, Managing Director Anthony felt that it was “crucial that the two branches integrate and can work together. The Deansgate office must be familiar with the Stockport team and the town itself”. This has involved the Deansgate team working days at the new site as well as fun-filled team trips in Stockport.

Ellie and Isobel have got off to a great start, with successful rentals and sales since opening. Due to Reside’s expertise regarding conversions, the new branch has recently been instructed on Meadow Mill, a unique development that offers a blend of historic charm and modern living in the heart of Stockport. In 2024, the team hope to expand the portfolio further, giving focus to Stockport’s collection of beautiful Victorian homes.

In an attempt to spread some good, old-fashioned festive cheer, the Stockport branch has been running an Advent Calendar and giving away prizes from some of their favourite local businesses. Deciding on the prizes has been difficult as Stockport is full of quaint and endearing shops and eateries. So far, prizes have included a Stockport Gin gift set, a £60 Still Life voucher and a week’s worth of sandwiches at Rack. It has been an exciting campaign and a great way to get acquainted with other independent businesses. To get involved and have a chance of winning our final few prizes, click the link below to the Reside Stockport Instagram.

Reside Stockport Instagram

AI and Estate Agency – how can it help?

How can Artificial Intelligence (AI) or, more specifically, Robotic Process Automation enable the estate agency profession to work more effectively and productively?

Reside asked this question to several AI firms at the beginning of 2023, and in the Spring of 2023, we formed a joint venture with Rising Tide.

To read this article in full, please click the below link to Insider Magazine.

Insider Magazine Article

The Blade

Renaker’s New Jackson neighbourhood has a new addition

Along with its sister schemes, Deansgate Square and Crown Street, The Blade makes a bold statement on the Manchester skyline. The development exudes luxury, which you feel the moment you step into the vast concierge space, which boasts high ceilings and a perfect balance of mid-century and contemporary interior design, complemented by antique gold accents. The amenities include a state-of-the-art gym with spin and yoga studios, changing rooms, an elevated terrace, a co-working space, and a private dining area. The apartments have been completed to the highest specification and designed to maximise natural light and provide stunning views of Manchester, with the penthouses being the epitome of this.

Reside is proud to announce that it has units both for sale and rental at The Blade, including the only penthouse available to rent. Check it out below.

Explore The Blade

Celebrating 10 Years of Reside

To celebrate ten years of business at Reside, last week Managing Director, Anthony, hosted a party at El Gato Negro

It’s a delightful tapas restaurant close to the Deansgate branch that team members have got to enjoy over the years. The evening brought together the team and a host of developers and clients that Reside has worked with since opening: a rare and special occasion where the senior team got the chance to thank everyone who has been involved in Reside’s journey so far.

It was the first client event since the pandemic hit, so lots of catching up was in order. As well as old faces, it was great to see the room full of Reside employees, as the team has grown from 3 people to 25 people over this last decade. One person who has been around since the beginning is Director of Operations, Kate, “I am so proud of how Reside has grown: the process has been completely organic and a direct indicator of the hard work put into the company. We now have a strong force of over twenty intelligent individuals who love a challenge, take pride in doing things differently and are all as passionate about property and Reside as Rhi, Anthony and I.” 

Broadside Festive Event

Last week, the Broadside team hosted the development’s third annual festive shindig.

Each year, the team strive for bigger and better, and they are yet to fall short. Spirits were high from the get-go, as only three minutes into the event, the courtyard was already half filled with tenants. Offerings included mulled wine and hot toddies from Didsbury’s finest pink wagon, Kiosk on Wheels. Joined by the Kiosk team were Meksican, who offered festive burritos: 12-hour smoked beef, turkey or spiced jackfruit for the veggies.

Inside the development, the team transformed the co-working space into a cookie decorating workshop, where tenants could decorate chunky chocolate chip cookies or spicy gingerbread men from the wonderful The Palms Bakery (although some tenants understandably chose to save their creativity and went straight to eating their sweet treats). Many of Broadside’s four-legged tenants also joined in the fun, and those who dressed up for the occasion were gifted a bag of treats, which we think is a small price to pay in return for the joy spread by seeing a pup dressed as Santa! There were smiles all around as the Christmas music jingled and festive lights twinkled.

Click the link below to see a few moments of joy that were captured on the evening.

Broadside Instagram

Year in Review

From our Managing Director, Anthony Stankard

“2023 has been a tough year for the residential market, but as the year closes in, there are signs of brighter times ahead. Following the disastrous mini-budget at the end of 2022, we saw mortgage rates soar, but over the past 6-months, these rates have been steadily coming down, with many 2-year and 5-year fixed rates now coming down to around 5% with mainstream lenders. UK interest rates have stabilised at 5.25% and opinion seems to agree that rates have peaked; alongside falling inflation, there is strong hope that rates may start to fall in the second half of 2024.

The sales market has seen average prices remain steady over the past year. According to the ONS, the average house price in September 2022 was £291,716 and £291,000 in September 2023, with a 0.9% uplift in October reported by Nationwide. I think we will see similar figures for 2024 with house prices remaining level, depending on the above indices, but holding firm due to the national lack of supply still being the major issue in the housing market.

In terms of rentals, we have seen around a 10% uplift in our rental portfolios achieved rents. Similar to the sales market, this is mainly driven by the lack of supply versus the huge demand of a major city such as Manchester. However, with rents now accounting for around 35% of income and rising and the supply issue slowly catching up following COVID-19, we expect rents to continue to grow but at a steadier rate than we have seen in recent years.

As we approach 2024, I sense positive sentiment is increasing as the key data shows steadier times ahead and falling rates, so the housing market should see a much calmer 2024, barring yet another unforeseen event (which has been a common factor over previous years, including Brexit, Covid and a cost of living crisis). So, fingers crossed for a calm and steady 2024.”