Portico
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Latest property news
Report reveals carnage within London sales market
Research into the severity of the London sales market crash has been published by Portico, which has 18 offices in the Capital. The shocking report, which has just been released, reveals that sales volumes in London are now more than half those before the 2008 financial crisis and 48% percent lower than this time last year. Portico says much of the downturn can be pinned on April’s Stamp Duty changes. Before the extra 3% was introduced the number of properties sold in Westminster rose from 200 a month in February to over 500 in March as landlords rushed to buy prior to the deadline, before dropping dramatically to just 84 sales in May. Portico says the market has not recovered significantly since then. But despite the sales slump, house prices in London have not dropped and instead have almost doubled since the financial crisis, increasingly from an average of £250,000 to nearly £500,000. Portico says prices are likely to start dropping soon as the market in central London finally starts to react to low sales volumes. The company predicts likely price drops of up to seven percent, which it believes will then spread out to Greater London. This reflects other recent market reports.…
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Features
Portico
Building on the past, creating the future. That’s the grand plan at Portico, possibly the smartest brand on London’s High Streets.
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Movers & Shakers
Portico’s four new stars
Portico.com, the London estate agent, has announced four new appointments to kick off a successful start to 2016. Christina Picard (left), who joins as a Sales Consultant in Clapham, is new to estate agency and will begin her NAEA qualification this month. Aklyma Bibi (right), who joins as a New Business Consultant, has over nine years’ experience in a range of independent estate agents. Grazyna Kotorba (left) joins the Head Office finance team as an Accounts Consultants, coming from Chase Evans. Ebony Campbell-Grant (right) takes up her role as an Inventory Clerk, joining from an independent inventory firm. Robert Nichols, Managing Director, Portico.com, said, “These appointments mark a strong start to the year for our intelligent, friendly and reliable team at Portico. With a strong training and development programme, we recruit the best talent and help grow them yet more. Only the best need apply.”
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