Search Results for: Mortgages
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Latest property news
Leading estate agency calls for Stamp Duty suspension to get market through Brexit
Leading estate agency group Spicer Haart has called for a Stamp Duty suspensions for 18 months to get the property market through Brexit.
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Latest property news
Connells reveals shaky first half of 2018 but launches sales progression tool for all
Estate agency giant Connells saw profits drop during the first half of 2018 but invested in a new online sales progression tool.
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Latest property news
Get ready for 0.25% base interest rate rise tomorrow, says Nationwide
Leading lender Nationwide says tomorrow's expected base interest rate of 0.25% to 0.75% is unlikely to impact the property market.
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Latest property news
Foxtons makes its first loss as shrinking London sales market decimates revenues
Foxtons says it made a loss over the past six months as London’s difficult sales market drove down its turnover by 9% to £53 million during the first six months of the year. The unprecedented £2.5 million loss before tax compares to a £3.8 million profit during the same period last year. Its half yearly interim results make for grim reading, although at least its lettings business is holding its own. 23% sales decline Revenue created within lettings only dropped by 1% to a revenue of £31.7 million, compared to a 23% decline in sales revenue to £17.2 million. The rest of its revenue came from the firm’s Alexander Hall mortgages business, which turned over 4.1 million and is surviving on remortgaging activity rather than property purchases. Comments within the report suggest that, while Foxtons is facing harsh trading conditions, it is likely to be in the same boat as other London estate agents. Foxtons says it remains the market leader in both sales and lettings despite the poor figures, suggesting there is little that CEO Nic Budden and his leadership team can do. “The property sales market in London is undergoing a sustained period of very low activity levels with…
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Features
Time to focus on success
Designs On Property tracks and summarises the property indices. Kate Faulkner says, “With a slowing sales market and tenant fees to be banned next year, agents must look to see where they can maximise listings that they can actually sell or let.”
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Features
How to squeeze more out of your portals subs
Are you exploiting the full range of services offered by the property portals? Lisa Isaacs discovers a wealth of analysis, support and training offered to agents.
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Resources
Big headlines slow sales
Designs On Property tracks and summarises the property indices. Kate Faulkner says, “Worrying headlines about huge job losses, coupled with little change to income versus inflation, people can be easily spooked and decide to ‘stay put’.
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Latest property news
Can he turn it around in time? Countrywide profits to be down £20m during first half of this year
The latest trading update by Countrywide reveals sagging profits but signs of recovery programme working at last.
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Latest property news
London Mayor Sadiq Khan launches affordable homes portal
Mayor of London Sadiq Khan has launched a property portal that offers affordable homes to buy in the capital.
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Purplebricks struggles in Oz as property market crashes after years of boom
Purplebricks has lost nearly 20% of its local property experts in Australia over the past three months as the Oz property market shows down after years of booming prices and demand. In its March annual results the company said it had 105 local property experts but now lists just 88 on its local website. Interviews with local LPEs by The Australian Financial Review revealed that some were “struggling” to make a living and that the large salaries they had been told were achievable have been failing to materialise. Purplebricks Australia CEO Ryan Dinsdale claimed that only 16 agents had quit since March, and said that 80% of agents were earning a good income. Documents revealed during the investigation have also revealed the fee Australian LPEs earn, which is AUS$1,000 of the AUS$5,000-6,000 upfront fee vendors pay in Oz. In New South Wales, which is the weakest property market in Australia at the moment, it was revealed that LPEs on average win 189 instructions for every 768 valuations, or just 24%. Purplebricks has chosen a bad time to launch its business in Australia. After many years, and decades, of boom the Oz property market is showing signs of a meltdown. Crashing…
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