Posts with tag: property

Online agent trials pay-as-you-go fee structure

Published On: July 16, 2015 at 10:08 am

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An online estate agent has announced an innovative service aimed at property sellers.

HouseSimple has launched a weekly pay-as-you-go estate agent scheme, whereby sellers pay from £9 per week in order to market their home. There is also a £495 ‘success fee’ if their property goes on to be sold.

The agent says that this will run with its existing fixed-fee option, where customers pay £395 on successful completion of a sale, or when is a year is up, whichever occurs first.

Structure

It is hoped that this structure will assist the needs of the customer more closely, as many may be unfamiliar with how agents work and what charges they could bring about. In addition, the agent claims that the pay-as-you-go option will enable sellers to put their property on the market and try out the online service, without paying the upfront fees that have been criticised in the online business model.

This means that the seller is not bound by a contract and therefore can cancel the service at any time. Vendors can also advertise on the agency’s website as long as they pay the weekly charges.

Online agent trials pay-as-you-go fee structure

Online agent trials pay-as-you-go fee structure

‘Unlike high street estate agents, who stubbornly refuse to change their commission model to provide a better value service to home sellers, we are continually striving to meet the needs of our customers,’ said Alex Gosling, chief executive of HouseSimple.[1]

Gosling acknowledged that, ‘there is still some uncertainty amongst home sellers around online estate agents and the existing up-front fee model can dissuade people if they’ve never sold a property online before.’ He said that his firm, ‘wanted to address that concern and make the service more accessible to all.’[1]

[1] https://www.estateagenttoday.co.uk/breaking-news/2015/7/online-agent-tries-pay-as-you-go-fee-structure

 

[2]

Homeowners prefer older properties

Published On: June 18, 2015 at 5:02 pm

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An interesting piece of research has suggested that UK homeowners prefer older properties than new builds. The questionnaire found that a growing number of property owners see newer homes as cramped, characterless and of inferior quality than older houses.

The survey conducted by the HomeOwners Alliance found that just 21% of respondents would want to buy a new-build property, with 47% wanting a home that is at least 10 years old.[1]

Low quality

38% of people questioned for the report said that they a substandard build standard quality would be the main disadvantage of owning a freshly built home. A third were not pleased about the size of rooms, with others complaining about the size of gardens and the lack of charm.

Paula Higgins of the HomeOwners alliance, feels that, ‘we need more new homes, but they have to be homes that people want to live in, not homes that are quick, easy and cheap for house builders to throw up.’[1]

‘What we need to solve the housing crisis are quality homes of character and space, and challenge the housing industry to deliver,’ Higgins continued. ‘After the war, they built homes for heroes. All we want is homes fit for home owners. Homes shouldn’t be built just for a quick profit, but to last for generations to come,’ she added.[1]

Homeowners prefer older properties

Homeowners prefer older properties

Benefits

Despite the perceived negativity, positive responses to new homes were also recorded. The biggest benefit of a new build home was found to be low maintenance costs and higher energy efficiency.

Kim Vernau of BLP insurance, stated that, ‘with activity in the construction industry on the increase as local authorities and developers attempt to meet the housing shortfall, there is a real risk that building standards will slip.’ Vernau feels that,’ consumers want peace of mind and reassurance that the home they are purchasing is fit for purpose and built to last rather than simply chasing a house-building statistic.’[1]

 

[1] http://www.propertywire.com/news/europe/new-homes-uk-poll-2015061810646.html

 

 

Property dedicated TV channel to launch

Published On: June 16, 2015 at 4:40 pm

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From Monday, Sky Channel 238 will be the home of property on television and having been two years in the making, big things are promised.

Gap in the market

Founder Michael Hammond and co-director Nicky Davis are utilising a mixture of industry and non-industry programmes and figures. Initially, the channel will transmit mainly entertainment shows, including Sarah Beeny’s Restoration Nightmare, Dream Homes and Mad About The House. There will also be some original programming.

The channel promises to create entertainment shows of its own back, which will be designed to, ‘inform and educate through new programme concepts.’

Property dedicated TV channel to launch

Property dedicated TV channel to launch

Mr Davis, who has been involved in launching many other television channels across Europe, said that Property TV, ‘meets a recognised gap in the market for a channel focussed on what is for most, our most valuable asset-our homes.’[1]

Better book that hairdresser appointment…and just where did I put that anti-wrinkle cream…

[1] http://www.estateagenttoday.co.uk/breaking-news/2015/6/property-tv-channel-set-to-launch

 

 

The Winners at the Evening Standard New Homes Awards 2015

Published On: May 19, 2015 at 4:19 pm

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A stunning penthouse in Wapping, East London has been given the top prize at the Evening Standard New Homes Awards 2015.

The Penthouse at Wapping Lane by Ballymore was presented with the renowned Grand Prix Award and named Best Apartment.

At the top of a new build 18-storey tower, the 5,000 square foot home boasts a circular perimeter of glass walls and terraces with 360° views of the capital.

Priced at £3.95m, this is a luxury apartment featuring a private lift and lobby, an open-plan kitchen and living area, and handpicked designer furniture and finishing.

The winners were announced on 15th May at The Dorchester hotel in Mayfair.

The homes are judged by Evening Standard readers as well as industry experts, and the awards cover 13 categories in the housing industry. All property types are included, from starter homes to luxury mansions.

The Outstanding Architectural Merit award went to Banyan Wharf, which overlooks Wenlock Basin in Shoreditch, for its Rubik’s Cube-inspired design.

Crossacres, a mansion on the Wentworth Estate in Surrey, won the Best Luxury Home prize and the Best Eco Home went to Virido, a concept house in Cambridge, which is the model for a 208-home development.

 

 

Post-election property bedlam in Central London

Published On: May 12, 2015 at 3:21 pm

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The Conservative Party’s shock election victory saw an estimated £500m frenzy of quick sales and fresh offers in Central London during Friday alone.

Estate agents and property owners alike were said to have been inundated with calls as the surprise election result gave would-be buyers the confidence to press on with their home buying plans.

Edward Heaton of Heaton and Partners property search agents has suggested that house prices for prime properties could rise as much as 10%, as fears of a mansion tax and abolition of ‘non dom’ tax status have been allayed.

Becky Fatemi, managing director of estate agents Rokstone, feels that the UK, ‘will see a return of gazumping and sealed bids and buyers will feel under pressure not just to offer a good price but also to compete with other people now flooding into the London market.’ She went on to suggest that a number of her clients had been, ‘packed up and ready to go,’ if Labour would have gained an election victory.[1]

Post-election property bedlam in Central London

Post-election property bedlam in Central London

Bedlam

Gary Hersham, MD of Beauchamp Estates in Mayfair, revealed that he had received 20 phone calls before even reaching his office yesterday, following on from the, ‘bedlam,’ of Friday. And Mr Hersham was not alone. Across the capital, agents reported a surge of post-election deals. Chelsea estate agents Russell Simpson reported that they had completed four transactions with a net value of £50m shortly after the results had been confirmed.[2]

London Agents Strutt and Parker said that they had also experienced a hugely productive post-election day, receiving £30 million worth of offers for properties on their books. Peter Wetherall, of Mayfair based agents under the same name, said that his firm, ‘is currently processing some £29 million worth of offers that were made on Mayfair property to us on Friday straight after the election.’[3]

Head of research at Strutt and Parker, Stephanie McMahon, commented that, ‘the prime central London markets displayed a marked reduction in volumes over the past nine months and this result will likely put an end to that.’ She went on to suggest that, ‘the more property tax-favourable approach of the Conservatives will serve to immediately increase confidence for those buying and selling homes over £1.5 million across the UK and we would not be surprised to see a surge in pent-up activity.’[4]

 

[1-4] http://www.standard.co.uk/news/london/500m-homebuying-frenzy-in-central-london-after-tory-win-10242312.html

 

Property price growth up in December

Published On: January 9, 2015 at 1:10 pm

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Categories: Property News

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Property prices enjoyed a strong end to 2015, according to the latest survey from building society Nationwide.

The survey suggests that values increased by 0.8% in the last month, in comparison to November.

Happy New Year

2015 saw house prices increase by 4.5%, with the average property value in Britain now standing at £196,999. In a separate report, the Land Registry for England and Wales reports that house prices rose by 5.6% in the year to September.

Looking into 2016, the Nationwide said that with property price growth almost parallel to that of salaries, it expects a similar pace of growth in the next year.

The Halifax however has recorded an even greater rate, suggesting that property prices are rising twice as fast. In its most recent survey, the lender indicates that prices increased by 9% in the last year.

Capital Gains

London was found to be the strongest performing area for the 5th year in succession, with average house prices up by 12% annually. This said, Nationwide does not expect house prices in the capital to continue to grow at such a rate next year, with unaffordability already stifling many in the city.

At present, prices in the capital are 50% above their pre-financial crash peak in 2007. In comparison, values in Northern Ireland are 44% beneath their pre-crisis levels, despite increasing by 6.5% in the final quarter of 2015.

Property price growth up in December

Property price growth up in December

In the UK as a whole, the Nationwide said that prices are up by 7% over the course of the year. Scotland was the only part of Britain to see a dip in average prices, with prices in the last quarter of the year down by 1.9% compared to the same period in 2014

‘Further healthy gains in employment and rising wages are likely to bolster buyer sentiment, while borrowing costs are expected to rise only gradually,’ observed Robert Gardner, Nationwide’s chief economist. ‘However, the main concern is that construction activity will lag behind strengthening demand, putting upward pressure on house prices and eventually reducing affordability.’[1]

Concerns

Additionally, Mr Gardner predicted average house price growth of between 3% and 6% during 2016. He went on to say that he had concerns over regional variation in property values, meaning strong house price growth in some areas linked to higher rates of employment.

‘The gap in employment in London is particularly striking, with the number of people in employment up 14% compared to the pre-crisis period,’ he noted.[1]

Howard Archer, chief UK and European economist at IHS Global Insight also warned that average property values would be, ‘constrained by more stretched house prices to earnings ratios, tighter checking of prospective mortgage borrowers by lenders and the probability that interest rates will start rising gradually during 2016.’[1]

[1] http://www.bbc.co.uk/news/business-35197410?ocid=socialflow_twitter&ns_mchannel=social&ns_campaign=bbcnews&ns_source=twitter