• Cedar House, Caen St, Braunton EX33 1AH

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Countrywide wins new deal with lenders to continue ‘turnaround plan’

In a trading statement this morning, Countrywide says it has “a new covenant package with lenders provides the financial flexibility to continue to execute the turnaround plan.” Few details are being made public but the statement says: "The Group’s lenders remain supportive of the business and the amended covenant package provides… Source: Estate Agent News

Connells says it's UK's most successful estate agent despite profits dip

Connells Group has this morning announced a profits dip for the first six months of the year.  Its pre-tax profits were £26.2m (2018: £28.9m), although it insists this was “a strong performance” against the backdrop of a UK housing market that continues to be subdued and where overall transaction numbers remain… Source: Estate Agent News

Agents beware as council cannot take search queries for six weeks

A local authority in the Home Counties says it will not be possible to accept search queries for six weeks starting tomorrow. Surrey Heath council says it is changing its database software: the task, even if it runs to time, will take until mid-September, with local land charges and building control… Source: Estate Agent News

PropTech Today: Keller Williams proves transformation comes from the top

Keller Williams continues to drive culture, mentality, and process transformation by partnering with DocuSign to enable electronic signatures. It’s another lesson in patient digital transformation that all agencies should be mimicking. Keller Williams is the biggest estate agency in the world, by number of agents, and the biggest in America when judged… Source: Estate Agent […]

Prime Central London housing gloom may be lifting at last

There may be signs that the gloomy housing market which has hit Prime Central London for some years may finally be lifting – at least a little. Property investment consultancy Central London Portfolio, which publishes a regular and well-respected snapshot of the market, says average annual prices in PCL in June… Source: Estate Agent News

easyProperty acquired by firm with backing of Stelios Haji-Ioannou

Online estate agency EasyProperty has been acquired by a firm with the backing of Sir Stelios Haji-Ioannou. easyProperty has been sold by the eProp Services Group PLC, parent company of The Guild and Fine & Country, and has been acquired by industry supplier firm Evolve. The deal will complete within the next 48 hours. Evolve… Source: Estate […]

OnTheMarket boss tells agents not to increase Rightmove exec bonuses

A note sent out by OnTheMarket chief executive Ian Springett has suggested that the way estate agents work may directly lead to increases bonuses for Rightmove executives. In a note which some may see as ‘playing the man, rather than the ball’, Springett tells OTM member agents that everyday activity by… Source: Estate Agent News

Branch closures boost profits at Your Move and Reeds Rains

LSL Property Services, parent firm of Your Move and Reeds Rains, says the company’s branch closure programme was a success with profits per remaining branch up, despite a dip in overall agency revenue. During the first half of the year the Your Move and Reeds Rains networks were downsized from 308 owned branches… Source: Estate Agent News

Boris Johnson’s stamp duty chatter could paralyse market – fear

Housing experts have expressed their concerns that speculation about a radical stamp duty reduction to be introduced by Boris Johnson’s government could effectively paralyse the market ahead of any eventual announcement. For some months, during his party leadership campaign, Johnson pledged that should he come to office he would reform stamp… Source: Estate Agent News

Supply dips but housing market stronger than expected say agents

The National Association of Estate Agents says that  both demand and particularly supply have dipped in the past month – but overall the market remains stronger than expected given the ongoing economic and political uncertainties. The latest report from the NAEA, applying to June, says the number of house hunters registered… Source: Estate Agent News