All 180 franchisees of the lettings chain Martin & Co have been sent letters inviting them to take out an additional franchise in estate agency sales – for just £1. The price is an enormous discount from the £4,000 at which Martin & Co values each franchise. The letter warns: “If we do not offer an estate agency service then we risk a mass exodus of stock when the market improves.” The letter is from Martin & Co boss Ian Wilson, who says: “I ran a lettings business in Sutton in Surrey in 1996/97 for GA Property Services and we lost one-third of our portfolio in … [Read more...]
Rightmove flying in cyberspace
February 26, 2012 By Leave a Comment
Britain's leading property portal Rightmove is persuading estate agents to part with an ever greater share of their advertising spend - average revenue per advertiser, Rightmove's key operating metric, increased by 17 per cent to £443 per month. Coupled with a smaller increase in costs, that pushed underlying operating profits up 23 per cent, and the operating margin up to an astonishing 71.5 per cent. Rightmove's revenues consist of subscription fees from estate agents, and managing director Ed Williams says it increases its flat-rate fees by about 10 per cent a year. Despite the flat … [Read more...]
Rental cottages in parts of the Scottish Highlands proving popular
January 24, 2012 By Leave a Comment
The lettings market for residential property in the Elgin and Moray area is booming according to Scotland’s leading independent property consultancy, CKD Galbraith. In the last Quarter of 2011, the firm’s Elgin office doubled the number of rental properties let in comparison to the previous three quarters combined, with the majority of properties being let out by young professionals. ‘Over the past three months we have let out a significant number of properties from our portfolio and are now letting cottages before they are even put on the open market. This has been achieved … [Read more...]
New Year, New Advertising Campaign for Zoopla
January 6, 2012 By Leave a Comment
This week, the UK’s Zoopla.co.uk, one of the country’s leading property websites, launched its largest advertising campaign to date, including national TV and radio spots, and hundreds of Zoopla-branded London taxis hitting the streets of London. The multi-million pound campaign includes advertising on all the major commercial and digital TV channels, on numerous leading radio stations nationally and moving billboards across the capital in the form of branded London taxis. The campaign is designed to further increase Zoopla’s brand awareness in an effort to close the gap with … [Read more...]
Student accommodation leads the UK property market
January 6, 2012 By Leave a Comment
According to the latest industry reports, UK student accommodation continues to outpace the rest of the property market as investors continue to take advantage of a shortage of university housing places and a growing number of wealthy overseas students. CBRE, a world leading real estate advisor recently released a report that stated £863 million was invested into student accommodation in 2011.This figure represents a significant increase compared with 2010 which saw £770 million invested into student accommodation and a staggering 220% increase on the amount invested in 2009. The … [Read more...]
British property prices flat in 2011 but regional divide widens
January 4, 2012 By Leave a Comment
Average house prices in Britain have remained mostly flat in 2011 while the division between North and South has widened, according to figures released by property website Zoopla. The average house price finished 2011 at £221,331, down a modest £854 (0.23%) from the same time one year ago. But regional contrasts have widened. In England, property values have risen over the past 12 months in London and the South East whilst falling substantially in the North. The average home in London is now worth £416,890 up 2% on one year ago. The North East was the worst performing region over … [Read more...]
DPG to Reward Agents
December 27, 2011 By Leave a Comment
A&N Media’s Digital Property Group is launching a scheme to reward agents for displaying its new window stickers. Every week, for the whole of 2012, one lucky agent will receive £100 of gift vouchers. The prize can be won by agents for displaying DPG’s latest stickers in their windows and e-mailing a photo directly to DPG. The company will them randomly select one of those photographs each week to win the prize. Greg Bryce, DPG’s Commercial Director says: “We’re proud to have so many agents advertising on our sites. Our customers are very important to us, and it’s our … [Read more...]
Private sellers told how to get their properties on to Rightmove
December 20, 2011 By Leave a Comment
An agent with a one-office operation has been told by Rightmove to expect a 21% increase in charges next year. The agent said he was astonished that, with another tough year facing the industry, Rightmove could come up with such an enormous hike. He has been told he will be paying £490 a month – up from £405. He said: “When I queried it, the response was along the lines of ‘We’re the market leader, take it or leave it’.” The agent said the industry was being held to ransom by Rightmove, which we invited to comment. Rightmove said it did not comment on specific … [Read more...]
NAEA 2012 property market predictions
December 20, 2011 By Leave a Comment
The National Association of Estate Agents today revealed itspredictions for the UK property market over the next 12 months. NAEA chief executive Peter Bolton King said 2012 will see a ‘gradual’ recovery for the UK property market, as it continues to bounce along the bottom – with no “great upturn” to mark a change from the previous 12 months. Mr Bolton King said: “I don’t believe that we will see a significant fall in house prices over the next 12 months as some have feared. But equally, it is unlikely we will see any great upturn to help the market back to full capacity. … [Read more...]
Estate Agents offered change to reveal fees and charges
December 9, 2011 By Leave a Comment
Real estate agents in the UK can be too guarded about revealing their fees and what charges are negotiable, it is claimed. According to a new comparison website the whole structure can be more transparent if the details are displayed so that property sellers and landlords can select an estate agent based on a more even basis. Sellers and landlords can list their property for free at the ipostcode.com site and agents then bid against the clock for the opportunity to sell or let it. The site says it gives sellers and landlords a snapshot of what agents can offer and brings transparency and … [Read more...]
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