Trevor Abrahmsohn
-
Latest property news
LonRes launches commission sharing site for new build agents
Commission-sharing and property data platform LonRes has launched a service to enable agents who sell new-build property in London to commission share with other agents, it has been revealed. Called ResDev, LonRes says the service will help agents tap into London’s burgeoning new homes market, which last year saw 16,230 new homes built. “With access to a network of properties and potential commission splits, ResDev is a natural extension of the LonRes system,” says says Lonres co-founder Anthony Payne (pictured, left). “Just as LonRes transformed the way in which London agents worked together, ResDev promises to do the same for the new build sector.” The ambitious building efforts of London’s developers, who are finishing projects such as the mixed-used redevelopment of Battersea Power Station started when the London market was over-heating, make it the ideal time to launch the ResDev. LonRes says the numbers of new homes coming to the market is up 53% compared to five years ago. Such extraordinary growth compares with the struggling general sales market in London, within which the number of homes sold has dropped by approximately a quarter year on year. LonRes say its new service will offer agents selling new build properties access…
Read More » -
Latest property news
Theresa May does it her way – 8th June is Election Day
Election Day has been confirmed by Parliament and it will take place on 8th June 2017 – and by a massive majority of 522 to 13, a result that must have delighted the Prime Minister, Theresa May who needed 434 votes to go ahead. Mrs May urged the British people to ‘put their trust in me.’ Nine of the 13 MPS who voted ‘No’ were Labour: Ronnie Campbell (Blyth Valley), Ann Clwyd (Cynon Valley), Paul Farrelly (Newcastle-under-Lyme), Jim Fitzpatrick (Poplar and Limehouse), Clive Lewis (Norwich South), Fiona Mactaggart (Slough), Liz McInnes (Heywood and Middleton), Dennis Skinner (Bolsover) and Graham Stringer (Blackley and Broughton). the other four were Alasdair McDinnell, SDLP and Independents Lady Hermon, Michelle Thompson and Natalie McGarry. David Westgate, Chief Executive of Andrews Property Group, was surprised, but says it’s business as usual, “Theresa May’s announcement that she intends to seek the support of MPs to hold a snap election on June 8 undoubtedly came as a surprise, but we must not let it destabilise the property market. Elections can lead to uncertainty and that can affect confidence; however the mechanics of the market are such that it is driven by demand and that remains extremely high at the moment. We need to seek ways…
Read More » -
Guest Blogs
Mansion Tax
Vince Cable’s pet hobbyhorse, Mansion Tax, is daft, irresponsible and unworkable – apart from that, a great idea! It will have such a profound effect on the £1m plus residential property sector that a great deal of the revenue/foreign investment earned by Stamp Duty, VAT, Income and Corporation Tax, through estate agents earnings, will be lost. What Cable thinks he will receive by way of £1.6bn revenue for the Exchequer will be dwarfed by what he will lose. Remember, that on a typical £2m house, if the tax is one per cent, it will equate to £20,000 that requires approximately £40,000 to be earned. So effectively, in order to open the door of your £2m house, which, if you are lucky will be in pre-tax earnings, you have a huge burden before you even turn the lights on. And, if you consider that this probably will apply to a 2000sqft property, perhaps 1000sqft in the better parts of London, this cost will be penal and there will be an exodus of wealthy buyers fleeing to Monaco, Dubai, Geneva and anywhere else to escape this harsh regime. As it is, an American family of four will pay a levy of £200,000…
Read More »