• Cedar House, Caen St, Braunton EX33 1AH

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Foxtons sales plummet but lettings keep it above water

Foxtons has reported further small slides in both revenue and profits for 2018 – but sales income plummeted from £43m to £36m. In a statement to the City this morning it said group revenue for 2018 was circa £111m (2017: £118m), with revenue for the quarter ended December 31 totalling circa… Source: Estate Agent News

Red Flag Alert after surge in agencies hitting financial distress

There has been a nine per cent rise over the past year in estate agency and property industry firms in so-called ‘Red Alert’ status – defined as being “in significant distress” – and this includes a seven per cent rise in the past three months alone. Figures released this morning by… Source: Estate Agent News

Industry chief says No Deal is worst outcome as London prices drop 20%

The British Property Federation has made an outspoken intervention into the Brexit debate, telling politicians that No Deal is the worst possible outcome. Via its Twitter account and at a seminar addressed by federation chief Melanie Leech, the BPF stated: “We are all looking to our politicians for leadership.  “The property sector stands… Source: Estate Agent […]

Four new branches for franchise agency as it releases strong figures

Franchise giant Hunters, which started 2019 by announcing two new branches, is to open another four next month after an upbeat set of figures were reported to its shareholders.  The company saw income across its network increase 1.4 per cent last year to £39.4m, up from £38.9m in 2017.  Last year saw… Source: Estate Agent […]

Regional chain says branches are key as it snaps up independent firm

North east England regional chain Bradley Hall Chartered Surveyors and Estate Agents has launched a new office in Hexham as its growth continues.  The firm has snapped up Grey Estates in the town, taking over its former premises, retaining its staff and adding a new office manager to the team.  Bradley Hall… Source: Estate Agent […]

League table of London's 'top 10 boutique agencies' revealed

The online publication aimed at London’s high-rolling property professionals, Prime Resi, has named what it believes to be the capital’s 10 best boutique agencies. The publication, which operates on a subscription basis, says its table is based on independent research and a range of sources, resulting in over 1,000 nominations.  Short-listed firms… Source: Estate Agent […]

Faster transactions for buyers and sellers now priority for search group

With far-reaching reforms of conveyancing and other aspects of house buying high on the government’s agenda, a trade body has revealed that it’s to restructure to become more PropTech focussed.  The Council of Property Search Organisations, CoPSO, says it’s embarked on “an all-encompassing strategic review” following the recent agreement by there… Source: Estate Agent News

PropTech Today: Homes-as-a-service could be your greatest weapon

By thinking outside the box, agents can truly embrace the idea of space-as-a-service and create entirely new, and highly valuable, streams of revenue for the future.  News this week from America sees Fernish, a furniture rental service, receive $30 million of investment, led by Real Estate Technology Ventures. Fernish is a startup… Source: Estate Agent […]

Con-man agent jailed for swindling over £300,000 from company

An estate agent who stole per £300,000 from an estate agency spent the money on designer goods and expensive holidays – and even had some extravagant online purchases delivered to the branch office he was working from. Robert Parker, 28, from Barry in south Wales, has been jailed for three years… Source: Estate Agent News

Brexit picture of the week: May day, May day….

The seemingly-endless debate surrounding Brexit may be punishing for estate agents in London in particular but one, at least, is making a virtue out of the battle to get a way forward. Marsh & Parsons, the London high-end brand of LSL Property Services, has turned the issue to its advantage. The agency… Source: Estate Agent […]