LonRes
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Latest property news
Exclusive: Lonres snaps up leading AML consultancy as HMRC ramps up inspections
Prime agents are increasingly under scrutiny by HMRC over their AML practices, which has prompted Lonres to acquire Financial Crime Services.
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Latest property news
Shhhh! LonRes starts listing ‘black book’ off-market properties
Business-to-business subscription platform says it has already had 35 properties worth over £225 million added to its property marketing listings.
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Latest property news
LonRes connects country to capital with ResCountry
ResCountry - the country offering from LonRes – now lists over 5,000 rural properties with 200 country offices to its network.
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Latest property news
Rural pursuit: LonRes welcomes 200 country agents to its fold
The peer-to-peer platform is growing following a rural push, adding 5,000 properties properties to its network.
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Latest property news
Transactions slump by a fifth in Central London as Brexit bites
Market report by LonRes covering the final months of last year reveal continuing problems for the capital's central postcodes.
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Google property chief to address gathering of agents and proptech firms
A gathering of estate agents and proptech firms is hoping to reduce the amount of double data entering that so many agents have to complete.
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Latest property news
Purplebricks will struggle to make headway in New York
Leading data chief William Carrington from Lonres reckons Purplebricks will struggle to make headway in New York's neighbourhoods.
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Latest property news
London letting agents offered new partnership to help them offset tenant fees ban
London property data firm Lonres has made a bold move into the transactional lettings market after it was announced today that it has formed a strategic alliance with lettings services firm Let Alliance. Lonres says the deal is a direct response to the looming tenant fees ban, the legislation for which recently began its passage through parliament, but is also part of an ongoing plan for Lonres to help its subscribers find “practical solutions to help them adapt effectively to policy and market changes”. To be called Lonres Let Alliance, the partnership will only be available to Lonres subscribers and will offer an end-to-end rental service for letting agents, landlords and tenants. This includes tenant referencing, deposits, a rent guarantee scheme and a host of insurance packages underwritten by UK General Insurance Group. Tenant fees ban Lonres says its agent clients will also be able to earn referral fees from the Let Alliance partnership if they introduce its products to tenants or landlords. “This alliance came about after we realised that the government wanted to see the industry come up with new ideas,” says Anthony Payne, MD of Lonres (pictured). “We think this partnership offers both tenants and agents what…
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Central London sales market turning a corner, claims LonRes
LonRes, the London property market fee sharing and data firm, says the capital’s central prime sales market is turning a corner after over three years of dipping transactions and prices. The company’s latest market report shows that the number of sales in Prime central London increased by 3% during the first six months of the year compared to the same period last year. “Withdrawal rates are falling in central London and tentative signs are that prospective buyers and movers are beginning to get itchy feet again,” says Marcus Dixon, Head of Research at Lonres (pictured, left) He also says supply is increasing; the number of properties on the market across all areas of Prime London has risen compared with 2016. But LonRes Managing Director Anthony Payne (pictured, right) says London’s stucco-fronted prime property market still has a long way to go before it returns to the pre-Stamp Duty increases and pre-Brexit ‘normal’, and that many wealthy people looking to live in London are renting at the moment rather than buying. Anthony says a house that rents for £25,000 a week or £1.3 million a year in central London would cost £5,150,000 in Stamp Duty, twice that amount payable before the…
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10% more off-market sales in London so far this year
London’s slowing property market has driven 10% more vendors in its prime central markets to dispose of their homes via off-market sales this year, according to Mayfair-based buying agent Black Brick. The company says it considers ‘off market’ to be those which are sold directly via the vendor to the seller, via an estate agent, who will utilise their contacts to sell a property without any marketing or brochures, or those sold from buying agent to buying agent. Some 38% of all properties sold by Black Brick during the first six months of the year were sold this way, it says, an increase of 10% compared to last year. The company says this is because London’s super-rich are increasingly anxious about putting their homes on the open market, and particularly worried about then having to drop their asking price, as London’s prime property markets cool off dramatically. Off-market sales According to Lonres, prices per square foot in London’s prime central postcodes have dipped by 11% since their 2014 peak and that vendors are waiting five months to find a buyer, on average. And Hamptons recently reported that foreign buyers have all but deserted central London since the EU Referendum, while…
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