NAEA Propertymark
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Latest property news
Fake properties on the portals are ‘common place’, claims agent
An anonymous but well-established property business in West London has told The Negotiator that fake properties on portals within its area are no longer a joke.
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Latest property news
Meet your new leaders! Propertymark reveals new line-up for NAEA and ARLA
Annual AGM and Presidents' Dinner rolls out the red carpet for freshly-minted Vice Presidents Maxine Fothergill and Kirsty Finney.
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Features
First Time Buyers come to the market!
Designs on Property tracks and summarises the property indices. Kate Faulkner says, “The current generation of FTBs are more savvy than those before, they see a depressed market as one which is good news for them, rather than one to stay away from.”
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Latest property news
Referral fees come under scrutiny by Government
Referral fees fall under Government scrutiny but maybe offering the opportunity to improve the practice of charging referral fees by increasing transparency.
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Latest property news
Estate agents must step up to mark on money laundering, says senior government crime expert
Number of Suspicious Activity Reports from agents has increased but still represents a tiny proportion of all reports filed alongside those from banks and accountants.
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Latest property news
Leasehold houses scandal: thousands are trapped as many struggle to find buyers, says NAEA
NAEA Propertymarket's report into the leasehold scandal published today reveals the shocking impact of the debacle on home owners.
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Latest property news
37% more home buyers surge into property market during January
Every estate agent knows the weeks after the New Year can be some of the busiest for the property market but 2018’s have been bumper ones, it has been claimed. NAEA Propertymark says the number of house hunters registered with agents increased by 37% during January to an average of 367 per branch, up from 268 in December. This is the highest monthly figure since September last year. But such good news for agents comes at a cost for first time purchasers. The increased number of buyers has mainly been second steppers, the NAEA says, and first-time buyer activity dropped off as they have faced competition from other types of buyers during the New Year rush for properties. Supply has also increased, NAEA says, up from 33 properties per branch in December to 36 during January. The fall-off in first-time buyer activity ends a year of improvement in their numbers during 2017, which UK finance recently revealed had reached their highest numbers since the financial crash of 2007/8. “As we usually see in January, buyers and sellers have re-entered the market after the festive slow-down and triggered an uplift in the number of sales agreed,” says Mark Hayward, Chief Executive,…
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Latest property news
Outdated house moving process to blame for sluggish sales, says NAEA
National Association of Estate Agents (NAEA) Chief Executive Mark Hayward says the creaking house moving process is one reason of the key reasons why sales volumes remains low “despite the fact that the supply of housing is up”. The comments follow NAEA research revealing that 80% percent of estate agents canvassed by the say the house moving process is out of date and just a week after the government announced it wants to reform the home buying and selling process and began a consultation process. Sajid Javid says he wants to hear from estate agents, solicitors and mortgage brokers on a wide range of issues but in particular about how to stop gazumping, reduce time wasting and preventing buyers from pulling out of deals before exchanging contracts. “The Government’s announcement last weekend that it will consult to reform the home-buying process couldn’t come soon enough, and we welcome it,” says NAEA Chief Executive Mark Hayward. “Our findings show that estate agents agree, and would welcome changes to ensure the process for buying and selling is brought into the twenty first century. “The current prolonged process means sales are stagnating despite the fact that the supply of housing is up, and there is…
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Latest property news
London’s house prices drop for first time in EIGHT years
The once mighty London property market has been laid low and its house prices are now the weakest in the UK, the Nationwide has revealed. Its latest index reports that prices in the capital have fallen for the first time since 2005 and are currently down 0.6% year-on-year on a quarterly basis. Nevertheless the years of double-digit growth are still there to see. The average price in London is £471,761, more than twice the national average of £210,982. Softening prices “The softening of prices was initially led by the capital’s prime market, which was knocked sideways both by Brexit and in the wake of the introduction of higher rates of stamp duty for high-value homes,” says Nicholas Finn, Executive Director at Garrington Property Finders. “But it is now spreading from the central boroughs – which saw prices rise fastest during the boom – to other areas where the growth came later.” Despite London’s problems, across the UK average house prices are relatively stable, rising by two percent year-on-year and Nationwide says housing market activity overall – including mortgage approvals and housing transactions – has “strengthened a little”, it says. naea |propertymark agrees with this analysis, revealing in its latest figures published…
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Features
House price indices: why we’re Living on ‘Hope Terrace’
Designs on Property tracks and summarises the monthly property indices. Kate Faulkner says, “Lower rates of growth appear to be here to stay, but I don’t think the public or investors appreciate this major shift in property price growth fortunes; we need to be prepared for what happens when they do.”
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