LSL Property Services AGM yesterday

April 29, 2016

LSL Property Services plc, a leading provider of residential property services incorporating both estate agency and surveying businesses, held its Annual General Meeting (AGM) yesterday in London.

Market Backdrop as  included in their AGM statement

Market volumes, as measured by Bank of England Total Mortgage and Total House Purchase Approvals, have increased significantly in the first two months of 2016 compared to the same period in 2015. This reflected accelerating Buy-to-Let market activity ahead of the 1 April changes in Stamp Duty, compared to the same period in 2015.

The number of Total Mortgage Approvals for the two months to 29 February were up 25.1% relative to the corresponding period last year, whilst the number of House Purchase Approvals were up 21.0% on the same comparative basis. Although market volumes from the Bank of England are not yet available for March 2016, market estimates indicate very strong volumes in March as completions accelerated still further ahead of the Stamp Duty changes.

We expect that the acceleration of market activity in quarter one caused by the changes in Stamp Duty will soften in quarter two and we have already seen this trend in our April trading.

To viewthe AGM statement in full visit LSL Property Services website click here

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Estate Agent Talk

A Guide To Moving To The UK

Are you considering moving to the UK, perhaps you are relocating for work or returning after some time as an expat elsewhere. Whatever the reason, to help you begin your journey smoothly, we have compiled all the relevant information on how to relocate to the UK. This guide to moving to the UK will cover…
Read More →
Breaking News

Breaking Property News – 30/04/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Will Yardi’s multi-million gamble on WeWork the former £37Bn Unicorn pay off? The word is that Adam Neumann the enfante terrible and former co-founder is unlikely to be the new owner of WeWork as it emerges out of the gloom of its present bankrupt…
Read More →
Love or Hate Rightmove
Breaking News

Rightmove rental tracker: 50,000 rental properties needed to bring supply back to pre-pandemic levels

Average advertised rents outside of London rise to a new record of £1,291 per calendar month (pcm), though the pace of rent growth continues to slow, with average rents now 8.5% higher than last year London rents reach a new record by two pounds, rising to £2,633 per calendar month. Average advertised rents in the…
Read More →
Letting Agent Talk

Half of Renters Don’t Know Where to Turn When Something Goes Wrong

Results come as TDS Charitable Foundation develops new service to support tenants to uphold their rights. HALF of all private renters would not know where to turn to if a landlord or letting agent failed to address a problem in a property. That’s according to interim results from a new representative survey of over 2,000…
Read More →
Estate Agent Talk

Liverpool’s Real Estate Market: What You Need to Know

Liverpool’s real estate sector presents a dynamic environment for investors, homebuyers, and tenants alike. As the city continues to expand and develop, understanding the nuances of this market is crucial for anyone looking to engage with property in the area. This article provides a comprehensive look at the current trends, investment opportunities, and potential challenges…
Read More →
Estate Agent Talk

Identifying Common Structural Issues in Balconies

Living in a city like Sydney, where a breathtaking view of the cityscape and ocean can be the crowning jewel of your property, it’s no surprise that balconies are key features sought after by homeowners. However, over time, these aesthetically pleasing elements can become a structural nightmare due to a range of issues that compromise…
Read More →