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All rise: haart reports February market surge
Instructions, viewings, transactions, new buyers, house prices, rents, new tenants and purchasing landlords all rose in February 2018, with 15 buyers chasing every property for sale.
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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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Number of managed rental properties drops by 8% during January
The government’s tax-take on landlords is having the effect many predicted it would as the Association of Residential Letting Agents (ARLA) reports an 8% reduction in the number of rental properties managed by agents during January. ARLA says its member agents reported 184 rental properties managed per branch compared to 200 during December, the lowest figures for four months. Such an alarming contraction in the market during a traditionally busy period is also taking its toll on tenants’ finances, ARLA says. As the housing market forces more people into rented accommodation rather than ownership, ARLA says the number of tenants registered with agents increased from 59 to 70 per branch. Rough ride ARLA’s Chief Executive David Cox (pictured, below) says renters are in for a “rough ride” this year as the imbalance between supply and demand begins to push up rents. It’s already begun, ARLA claims, revealing that nearly a fifth of tenants experienced rent increases during January, up from 16% during December. The ARLA figures are backed up the latest rental index, which found that rents in the UK are rising across every region for the first time in two years. Buy-to-let lender Landbay, which produced the index, also…
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Social media now eats up over five years’ of our live
In a lifetime, says Tara Dulake, the average person now spends five years and four months on social media, the equivalent of flying to the Moon and back 32 times!
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SDL Auctions announces 40 date auction calendar
SDL Auctions has announced a record breaking number of 40 dates for its 2018 auction calendar.
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OnTheMarket flotation to go ahead, raising £30m
OnTheMarket has finally revealed its flotation which will raise £30 million of the £50 million it has hoped to receive from the City, three years after it first launched. The 18.2 million shares it is to issue via its public offering are priced at £1.65p each and will start trading on AIM stock market on February 9th, valuing the newly-created OnTheMarket plc at £100 million. Up to £25 million of the cash raised from the share issue will finance a marketing battle with ZPG and Rightmove, while the rest will be spent on an enlarged agent sales team and improvement to its IT systems. The share issue reveals that although the “quality investors” it refers to in his comments about the public offering have been willing to invest in the portal, its initial hopes of raising more money have not been possible. Agents who list on OnTheMarket, based on their branch size and how long they have listed with the portal, were given equity in the company in return for giving up their membership in the original mutual organisation. CEO Ian Springett says: We believe that the new capital, together with our ongoing revenues, will support our strategy to build…
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Exclusive: Opposition to fees ban strongest in rural, Conservative constituencies
SIGN THE PETITION AGAINST THE LETTINGS FEE BAN HERE Opposition among agents to the government’s tenant fees ban is strongest in rural, Conservative-voting area of the country, The Negotiator can reveal. Analysis of the 8,500 people who have so far signed an e-petition calling on the government to do a U-turn on the policy and instead bring in a fees cap reveals that the areas with the most signatures are all rural and semi-urban areas with Conservative MPs. The only exceptions to this rule are Coventry, six of London’s inner boroughs including Battersea, Bermondsey, Limehouse, West Ham, Ealing and Finchley, plus, Brighton and Hove, Bournemouth and Bristol West. The areas where most people have signed the petition are in parts of Hampshire, Somerset, Wiltshire, East Sussex, Kent, Essex, East Anglia, Oxfordshire, Northamptonshire and Lincolnshire. Opposition to a ban is weaker in the north although there are hotspots of people signing the petition in North Lincolnshire and Lancashire. Within housing minister Dominic Raab’s constituency of Esher & Walton in Surrey, 17 people have signed the petition, while in Sajid Javid’s constituency of Bromsgrove in the West Midlands, 15 people have. The constituency with the highest number of signatures is in Kettering,…
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Agents’ diaries: property markets in Brighton, Devon and Northumberland
Each month we visit three agents across the country to discover what is happening in their local market. This month we meet members of The Guild of Property Professionals in Brighton, Crediton and Northumberland.
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Three key marketing trends for agents in 2018
At the start of the New Year, it is very important to invest time in planning your marketing strategy to ensure further success, says Nelly Berova. Here are her three marketing trends to watch in 2018.
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Fine & Country launches in Romania
Fine & Country opened a new office in Bucharest, Romania on 28th November.
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