London
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Latest property news
All 33 London councils sign up to join Mayor’s new rogue agent database
The Mayor of London's new rogue agent database, which also includes landlords, will now be supplied with details by all the capital's councils.
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Movers & Shakers
JLL bolsters Valuation Advisory team
Daniel Pearce has joined JLL as National Director in the Valuation Advisory team based in London.
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Latest property news
64% of London tenants still target homeownership
Latest measure of confidence and intent shows two thirds of London’s private tenants still want to own their own home, despite confidence dip.
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Regional Reports
Kent, Devon and London
KENT COASTAL AREAS 2018 will mark the 26th Year that Cooke & Co Estate & Lettings Agent has been trading as a successful independent company. Cooke & Co has grown to be a formidable presence throughout the Isle Of Thanet and has built up a great local team with a wealth of experience within the property industry and the local area. We have found throughout 2017 the main challenge has been the perception potential vendors have in terms of ‘value for money’ with online Estate Agents. Although these Online Agents are slowly building a presence in the market place, we have been mindful to continue to demonstrate the value of how important customer service and traditional values are within this industry. As many of our staff have been with the company for over 10 years we can offer unrivalled local knowledge, experience and an honest approach to buying and selling homes. Every member of our staff is well versed with every transaction and therefore vendors and buyers aren’t told they have to wait for someone to call them back. Another excellent advantage is that Cooke & Co offers a step by step guide throughout the sale process and Sales Progression…
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Latest property news
Airbnb to restrict ‘entire home’ rentals to 90 days in another UK city
Airbnb has offered to restrict the period landlords can rent out their properties in Edinburgh to 90 days a year, copying a similar ban it introduced in London last year following criticism of its business model. In London, from January 2017 any ‘entire home’ listing has been limited automatically by the company’s software to a maximum 90 days total per calendar year. This has now been mooted in Edinburgh by the Californian company in a submission it made to a expert panel set up by the Scottish government due to publish its findings next week. Airbnb: ‘commercial’ lets? Criticisms of the way landlords use Airbnb in Edinburgh echo those made in London; that too many landlords are buying properties with the express purpose of renting them out via the platform. This, says Green MSP Andy Wightman (pictured, left), means Airbnb is being used “as a route to market by commercial operators who see it as a very cheap way of advertising the availability of a flat, which is used 100% of the year for commercial short-term letting,” he told the BBC. Wightman says this is far from its original purpose, which was to enable home owners to make extra cash…
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Latest property news
JOHNS&CO opens in West Hampstead
JOHNS&CO, a specialist sales, lettings and property management agent for the new homes market in London, is opening its first New Homes office located in West Hampstead.
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Latest property news
Rokstone opens lettings in London
Prime central London agent Rokstone has launched a new lettings division, extending its residential offering.
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Latest property news
‘There will not be a segment of short-term rentals that Airbnb does not wish to dominate’
The threat that Airbnb presents to agents is laid bare by recently comments by a senior figure within the company, as well as research carried out exclusively for The Negotiator within the London market. This shows that the dot com is not only beginning to eat up the general short lets market in London and remove many properties from the traditional private rented sector, but that many high-end property owners are also utilising it to increase their returns too. The research by Airdna reveals that there is a significant number of central London properties that are generating huge incomes for their owners, properties that can hardly be described as bedroom rents or sofa surfing. This includes a six-bedroom property in Mayfair that over the past 12 months has earned £97,600 for its host, a Swiss Cottage garden flat that has earned £69,800 and a Westminster duplex that has generated £67,100. Some property owners are also renting out entire apartment blocks. One property in Shoreditch, a nine-apartment block, has generated £212,670 for its owner via Airbnb over the past year, according to Airdna. “Entering the high end of the market lays out the statement that Airbnb has gone far beyond its air…
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Latest property news
London agent starts Airbnb letting service for landlords
Eighteen-branch London agent Portico has launched an Airbnb letting management service specifically for landlords as the number of hosts in the city approaches the 50,000 mark. Managing director Robert Nichols (pictured) says that despite the 90-day limit introduced by the San Francisco-based company, even “seasoned landlords are coming round to the fact that a combination of Airbnb and traditional tenancy will maximise their return on investment,” he says. Portico, which was launched in 2015 and replaced existing brands Edmund Cude and Bushells, says there are now 48,017 active Airbnb hosts in London and that the average two-bedroom flat there generates £2,226 a month based on a 70% occupancy rates. Portico claims its service will be able to achieve even higher occupancy rates for clients of up to 80%, and that landlords can expect to receive a booking within a week of listing on the site. Average day rates for Airbnb properties in London range from £65 a day in Bexley to £224 a day in Westminster. Portico is stepping into controversial waters – many agents and city housing professionals see Airbnb as a threat to supply within the existing private rental market, and several councils including Westminster have made their…
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Regional Reports
Holloway, London; Wetherby, Yorkshire and St Johns Wood in London
Each month we visit three agents across the country to discover what is happening in their businesses and local markets. This month we meet members of The Guild of Professional Estate Agents in Holloway, London; Wetherby, Yorkshire and St Johns Wood in London.
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