Cedar House, Caen St, Braunton EX33 1AH

June 2018

More downbeat market news – price growth at five year low

House prices rose at their slowest annual rate in five years in June according to the latest indicator of this summer’s challenging housing market.  The latest Nationwide index says annual prices increased by 2.0 per cent in the year to June, down from the 2.4 per cent reported in May. For June... Source: Estate Agent...

Latest Prime Central London property trend – buy a wreck and do it up

Wary buyers reluctant to risk buying a premium-priced property in the volatile prime central London market are adopting a perhaps-surprising tactic - they’re looking for doer-uppers.  The highly-regarded buying agency, Black Brick says the wealthy individuals who are the bread-and-butter of the PCL market are currently reluctant to pay the going... Source: Estate Agent...

Purplebricks pledges to appeal latest ban on advertisement

Another Purplebricks ad has been stamped down on by the Advertising Standards Authority following a complaint by Hunters Property Group - but the hybrid agency says it will appeal the ruling. Once again the cause of the controversy surrounds Purplebricks’ statements about its charges. Specifically, Hunters challenged three elements of an advertisement on...

'Bigger Countrywide losses to come' warns broker advising investors to sell

One of Countrywide’s former allies in the City broker community - independent corporate advisor Numis - has downgraded the troubled agency group and has given a shock prediction about possible future losses. Until yesterday lunchtime Numis has given Countrywide a ‘hold’ rating but following a disastrous performance on the London Stock... Source: Estate Agent...

Crisis? What Crisis? Agency plans to expand into major cities

Just as some estate agents are reported to be making plans to retrench if the housing market continues to be sluggish, there’s good news from one firm launching a new agency. The Yorkshire-based Priestley Group, which has previously focussed on lettings, is now launching into sales and plans to extend itself... Source: Estate Agent...

'Buyers sitting on their hands' as mortgages for purchase fall again

Total mortgage approvals by the main High Street banks increased three per cent in May over the same month last year - but the main driver for the surge is remortgaging rather than buying homes afresh. The number of mortgage approvals for house purchases actually dropped by 3.8 per cent when... Source: Estate Agent...

PropTech Today: I’m a screamer – which generation do you belong to?

The time has come for full PropTech/property integration and only those who open themselves to the globe will be part of it. I’m a screamer, a sentence I never thought I’d write publically, but which PropTech generation do you belong to? There are a few to choose from… There are those who... Source: Estate Agent...

Call for Countrywide management to quit after huge share price slide

Senior management at Countrywide came in for a pasting on Twitter yesterday as TV market commentator and buying agent Henry Pryor loaded both barrels and took aim at the people running Britain’s largest traditional estate agency. In one social media message he tweeted the high-end brands owned by Countrywide - that... Source: Estate Agent...

Purplebricks rejects claims of bullying Local Property Experts in Australia

Purplebricks says it completely rejects any claim of bullying its representatives in Australia. The Australian Financial Review, which last week reported the hybrid agency was losing Local Property Experts as a result of a downturn in the housing market down under, has now carried a strongly worded statement from Purplebricks. The AFR... Source: Estate Agent...

Transactions plummet across UK and particularly London

Transactions across Greater London have plummeted - they were down 7.9 per cent over the past three months and a whopping 15.3 per cent in the past month alone. That’s the verdict of London Central Portfolio, an investment consultancy which has analysed Land Registry and other data. It says transaction levels across... Source: Estate Agent...

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