• Cedar House, Caen St, Braunton EX33 1AH

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121,500 first time buyers since stamp duty cut, claims government

A government announcement this morning claims 121,500 first time buyers have taken advantage of the stamp duty cut introduced at the November Budget.  They have apparently saved a total of £284m in the period from the introduction of the cut up until June 30.  The government forecasts that over the next five… Source: Estate Agent […]

Rightmove – can it remain profitable in the long term?

As if to prove there are two ways to interpret every figure, a new analysis of Rightmove’s recent trading statement suggests that the portal is not, after all, doing as well as some believe. Mike DelPrete, the international property digital analyst, says last week’s figures from Rightmove – which showed increases… Source: Estate Agent News

Your Move parent firm sees 11% sales slump but good lettings performance

The parent company of Your Move, Reeds Rains and other agency brands has succeeded where Foxtons yesterday did not – in bucking the poor housing market in part, and seeing its revenue increase despite a sales slump. In figures released this morning LSL Property Services says its group revenue over the… Source: Estate Agent News

Warning over asking prices "not standing up to professional scrutiny"

A leading buying agency is warning about asking prices that are higher than those acceptable to mortgage companies who therefore down-value properties. The warning, from the Black Brick agency, comes after controversy flared last week when the BBC”s Victoria Derbyshire programme covered the issue.  Camilla Dell, managing partner at Black Brick, says… Source: Estate Agent […]

18% slump in sales agreed early this summer, says NAEA

The latest market snapshot released by the National Association of Estate Agents’ shows the challenges faced by the industry right now. The number of sales agreed per branch in June rose from eight in May to nine, as buyers began to push through summer property transactions – however, this was some… Source: Estate Agent News

Labour wants London property tax revenue to be given to Sadiq Khan

Labour says stamp duty receipts and other tax income from properties in the capital should go to the Mayor, Sadiq Kahn, to spend on services across the capital. Currently stamp duty revenue goes to the Treasury to contribute to national government spending. But now Labour’s London Assembly Spokesperson for Housing, Tom Copley… Source: Estate Agent […]

Foxtons suffers another profits dive after 23% slump in sales income

Foxtons has suffered a massive 23 per cent drop in sales income and a nine per cent drop in overall company revenue, blaming “ongoing weakness in the London sales market” and the capital’s “sustained period of very low activity levels”. In figures, group revenue was £53m – down from £58.5m this… Source: Estate Agent News

"Join our revolution" – new agency boss appeals to rival firms

The new owner of Humberts says he would consider acquiring or working alongside existing agencies who want to be part of his new experimental way of working. Matt Spence – the existing chief executive of vacation property company Natural Retreats and for the past month the owner of the Humberts chain… Source: Estate Agent News

Prime London's four year collapse: agency figures show scale of falls

The price per square foot for homes in central London is currently £1,194 – that’s 16.9 per cent below its 2014 peak. The figure comes from Winkworth which says in its latest review of the central London market that the average per square foot now is slightly above this time last… Source: Estate Agent News

Conveyancing proposals could delay transactions, warns law firm

A leading legal firm has given broad approval to proposals from the Law Commission aimed at improving the conveyancing process and attempting to further combat property fraud.  But the firm, Irwin Mitchell, is warning that one of the proposals – to subject conveyancers to new sets of standards – could backfire… Source: Estate Agent News