Chestertons
-
Latest property news
Is the London property market finally reviving? So says two leading estate agents
Thirty-eight branch London estate agency Chestertons says new buyer registration at its offices increased by 30% during the first six months of the year, signaling a much hoped-for revival in the capital’s sales market including a 1% increase in its sales pipeline. The company also says the number of viewings increased by 15%, agreed sales grew by 19% year-on-year and that its January sales figures were the best for four years. Chestertons, which split from troubled agency Humberts in 2014, says it believes the surge in activity has been created by buyers who have ‘flooded’ back believing the market has corrected itself. “Activity over the last six months has shown a marked improvement compared to the same period last year, giving us an optimistic view for the rest of the year,” says Managing Director Guy Gittins (pictured). “The surge in buyer registrations at the start of the year and an uplift in viewings has converted into a considerable increase in agreed sales. “However, with many of these deals not yet completed due to longer conveyancing periods, the results of the early-year boost will be felt over the autumn period.” Property market The company also says the Prime Central Market is…
Read More » -
Latest property news
Chestertons promotes Guy Gittins to MD as group CEO steps down
Upmarket agency Chestertons has revealed a reshuffle at the top after Group CEO Allan Collins stepped down today, 15 months after his appointment, while former Head of Residential Sales Guy Gittins has been promoted to become the UK’s Managing Director. Collins is to become Group Deputy Chairman after being appointed CEO in March last year, replacing Robert Bartlett, following five years spent as Group Chief Financial Officer, and prior to that stints at Savills and cruise firm P&O. One of his last decisions was to return Chestertons’ 32 branches to Zoopla after a three year hiatus during which it listed only with OTM and Rightmove. Guy’s rapid rise Guy Gittins is one of the property industry’s high fliers and his promotion to the top job in the UK after seven years at Chestertons is not a surprise to many who know him. Gittins made his name both within the industry and beyond after working for Savills on the successful launch of the world famous Candy & Candy development One Hyde Park from 2010 onwards, before joining Chestertons in 2012. Before that he worked for cigar-chomping hotelier and developer Peter de Savary. “During the seven years I have worked for Chestertons…
Read More » -
Latest property news
Failing Humberts has yet to file accounts for 2015, official records show
Read how troubled estate agent Humberts has yet to file accounts for 2015 and when it did last reveal its financial results for 2014, made a loss of £1.5 million.
Read More » -
Movers & Shakers
Patricia Farley joins Harding Green
Patricia Farley, who’s long property career includes Farleys, Humberts and Chestertons, over 40 years, has joined Prime London estate agency, Harding Green, as an Associate Partner and business investor.
Read More » -
Latest property news
OnTheMarket founding agent Chestertons signs with ZPG
Chestertons, one of the founding agents of property portal OnTheMarket (OTM) and one of London’s largest branch networks, has returned to Zoopla after a three-year hiatus. Its 32 branches have started listing on ZPG’s two websites with immediate effect as well as continuing to appear on Rightmove and OTM. A spokesperson from OnTheMarket said: “”Chestertons remains a valued and supportive estate agent customer of, and shareholder in, OnTheMarket and indeed has recently chosen to sign a new 5-year listing agreement with us.” Chestertons is one of a growing number of agents now listing on all three platforms after OTM lifted its ‘one other portal rule’ following its listing on the AIM stock market. “We’re excited to be returning to ZPG and having all of Chestertons properties listed on all four of the UK’s main property websites, which will benefit both our customers and our business,” says Allan Collins, CEO of Chestertons. The company, which founded OTM alongside several other high-profile agents including Knight Frank and Savills, is not the only agent to have signed up with or returned to ZPG recently. The portal says a flurry of branches have signed a listings agreement with it in recent weeks including eight…
Read More » -
Charity
Chesterton collects coats
Chestertons turned its 33 offices into public collection points in November supporting the ‘Calling London Winter Coat Campaign’, collect thousands of unwanted coats to help needy Londoners keep warm.
Read More » -
Latest property news
Interest rate rise – will it turn the dials in the housing market?
The decision by the Bank of England’s Monetary Policy Committee (MPC) to introduce an interest rate rise of 0.25% a percent to 0.5% in order to keep inflation in check was applauded in most business circles as a prudent first move to ‘sensible’ interest rates after nearly eight years of rock bottom rates. The move is intended to dampen down the economy mildly and rein-in inflation, which currently stands at 3% and is expected to peak higher than that before the MPC’s measures kick in. Bank of England Mark Carney said the inflation increases were due largely to the weakening of Sterling following the Brexit vote. “The decision to leave the European Union is having a noticeable impact on the economic outlook,” he said. “We need to support the economy during this adjustment process.” But what does the property industry think of an interest rate rise? Russell Quirk of eMoov, who was first out of the blocks into the news studios yesterday, said the rise would only add £16 a month the average mortgage holder and would be “water off a duck’s back for those with a fixed rate security blanket”. But what did the rest of the industry think.…
Read More » -
Charity
Chestertons Golf Day raises £3k for St Mungo’s
Chestertons raised £3,000 at its annual Charity Golf Day in support of St Mungo’s.
Read More » -
Latest property news
Is this new style of agency the answer to the industry’s problems?
A former Chestertons sales director, Nick Carter has launched Harding Green, a US-style estate agency in central London which, he claims, will be unique way of selling and letting property in the UK. The business will run a central office but instead of staff, the company’s Associates will be self-employed and individually responsible for between 15 and 20 properties for sale or to let. The Associates will be able to either work alone or in pairs and manage between 30 and 40 properties, and choose between several commission structures. This includes receiving a salary and 20% of the commission or working without a salary and taking up to 75% of any commission. Harding Green says it is looking for agents who have a minimum of five years’ experience in the London market in sales or lettings. Kensington office In return, Associates will receive leads from – and be supported by – the firm’s Kensington office including the usual admin, IT and marketing services. This will include advertising and public relations campaigns. The company says each Associate or pair of Associates will remain the sole point of contact for each client from start to finish and therefore be able to dedicate…
Read More » -
Marketing
Blow for Zoopla as Chestertons leaves the portal
Zoopla was dealt a blow last week as Chestertons, one of London’s largest estate agencies with 30 offices across the city, announced that it would be leaving the site in to list its properties with Rightmove. The firm, a founding member of Agents’ Mutual, continues to list properties on OnTheMarket (OTM) and is therefore not permitted to list homes on more than one other rival website, under OTM’s ‘one other portal’ rule requiring, in effect, their member agents to stop advertising on either Rightmove or Zoopla. The typical scenario has an agent sticking with Rightmove and choosing between OTM and Zoopla, so Chestertons is unusual. “We had more and more of our clients telling us that they expected to see us on Rightmove and you have to listen to your clients,” said Chestertons Chief Executive Robert Bartlett. The launch of OTM earlier this year had an adverse impact on Zoopla’s business. A number of agents have cancelled their subscriptions with the online property giant in order to list homes with OTM. OTM is now claiming to be on course to replace Zoopla as the number two property portal by the end of 2016 on its way to achieving their medium-term…
Read More »
