• Cedar House, Caen St, Braunton EX33 1AH

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New housing chief on the way as Sajid Javid moves to Home Office

The game of musical chairs that has so often gone on with politicians in charge of housing continues today with the news that Housing Secretary of State Sajid Javid has been promoted to Home Secretary. He has been replaced at Secretary of State for Housing, Communities and Local Government by James… Source: Estate Agent News

More controversy as Purplebricks and Trustpilot are probed by BBC show

A BBC Radio 5 Live analysis of online reviews has reignited the argument about the glut of positive reviews for Purplebricks on Trustpilot. Responding to adverts posted on eBay, the undercover BBC team claimed to be able to purchase a false five star review on Trustpilot, which describes itself as "committed… Source: Estate Agent News

Humberts problems “on the cards for years" says senior insider

An insider in a senior position in Humberts says the weekend announcement that it was in talks with proposed administrators to find a buyer had been “on the cards for years”.  The individual, who contacted Estate Agent Today but did not want to be named, blamed what he called “a random,… Source: Estate Agent News

Vast majority of homes selling below asking price claims NAEA

Only one property in every eight sold in the current market succeeds in achieving its asking price – while no fewer than 86 per cent sell for less. The figures, from the National Association of Estate Agents, apply to March and show a marked worsening over the February proportion of 74 per… Source: Estate Agent News

Downsizing just not on the agenda for most older owners, warns bank

Some 45 per cent of so-called Empty Nesters – older owners whose children have left home permanently – say they are not even considering downsizing to a smaller property, according to research from Lloyds Bank. Around 63 per cent admit they are enjoying the new-found space and rediscovering their independence. Over… Source: Estate Agent News

Proportion of sales to cash buyers falls back, says Nationwide

Research from the Nationwide suggests that the share of cash transactions has declined over the past 18 months, at least partly because of the impact of the stamp duty surcharge on additional homes introduced in spring 2016.  Nevertheless, cash buyers continue to play an important role in the housing market, accounting… Source: Estate Agent News

Stamp Duty: yet more for government despite 69,000 first time buyers

Figures from the Treasury suggest that the annual revenue from stamp duty for the year to the end of March is 10 per cent higher than in the previous years – and that’s despite 69,000 first time buyers who have escaped the tax under new rules. The autumn Budget included an… Source: Estate Agent News

Agents voice concern as lending slump points to possible slow market

Fewer mortgages were approved for home buyers last month than in the same month a year ago according to figures from lenders’ umbrella group UK Finance.  Banks lent on 37,567 mortgages for house purchase last month, down from 38,035 in February: purchase approvals fell do almost 21 per cent fewer than… Source: Estate Agent News

Prime London woe: price falls, slow sales and valuation mark-downs

Coutts bank has issued a starkly pessimistic snapshot of prime London’s housing landscape, reporting price falls, valuation mark-downs and slower sales in a market which it describes as “bumping along the bottom.” First off it says prices have fallen three per cent in the first quarter of 2018, reversing a rise… Source: Estate Agent News

Sex claims made against housing minister Dominic Raab's diary secretary

Several newspapers are carrying allegations that the diary secretary working for housing minister Dominic Raab has been selling sex via a ‘Sugar Daddy’ website. The Mirror, which scooped the story, says the woman – named only as Lisa and said to be just 20 – met one of its undercover reporters… Source: Estate Agent News