• Cedar House, Caen St, Braunton EX33 1AH

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Purplebricks: troubled investor Woodford slashes stake to under 5%

The troubled ‘star fund manager’ Neil Woodford has drastically reduced his stake in Purplebricks: he now owns less than five per cent of the hybrid agency. A trading statement by the company this afternoon revealed that the stake held by Woodford has been reduced from 15.53 per cent to “less than… Source: Estate Agent News

Boost for Purplebricks and co as online market share rises

There has been a surprise, but small, increase in the market share of online estate agents according to the latest survey. Business consultancy TwentyCi says online operators’ market share peaked at 7.9 per cent during the third quarter of this year. But the consultancy says the long-term average market share remains at… Source: Estate Agent […]

New multi-agency sales company already works with 40 agents

A relatively new company which signs up vendors and then effectively sub-contracts their sales to strongly-performing local estate agents says it has already worked with 40 different agencies – but is refusing to work with online companies. Movewise, which launched a year ago under the name BestBid, does not sell homes… Source: Estate Agent News

Reservation Agreements to be trialled in the New Year

Reservation agreements locking in buyers and sellers could be trailed with some agencies and conveyancers early in 2020, a government official has revealed. A two-page model agreement is believed to have been in existence since the end of 2018, drafted by Philip Freedman QC, chairman of law firm Mischon de Reya. Now… Source: Estate Agent […]

Upad closure shows PropTech isn’t enough by itself

A leading agent and property management expert says the shock closure of online agency Upad is a sign that technology alone is not enough when it comes to transacting homes.  Upad announced its closure unexpectedly last Saturday; apparently this was the result of its founder, James Davis, re-thinking his priorities after… Source: Estate Agent News

Will stamp duty reform be announced on November 6?

November 6 has been declared Budget Day – at least if there is a Brexit deal agreed in principle in the next week. If no deal is agreed or there is a further delay in the Brexit process, it is thought likely that the Budget will be pushed back several weeks… Source: Estate Agent News