BREAKING NEWS – 5 top stories 09/02/2021

RIGHTMOVE DEFENDS PRICE INCREASES BY STATING IT IS GIVING ENHANCED SERVICES

With even more agents saying they are being faced with a 10% increase in their fees to Rightmove, the portal is now pushing the agenda that they are offering enhanced services to agents.

Having now been contacted by over 300 agents, I think that there is likely to be a re-run of the Say No to Rightmove demonstrations that happened during Lockdown 1.0, with other portals about to launch including Boomin, it is dangerous times for Rightmove to continue with a bully boy attitude, look what happened to On the Market, the moment you alienate agents, they do not come back.

COUNTRYWIDE PLC – SHAREHOLDERS VOTE ON CONNELLS DEAL IN WEEK

The shareholders will vote on the acceptance or rejection of the Connells deal that sirs on the table, if voted through it will create the largest agency in the UK, with a potential market share of 8%. All indicators are that the deal will be waived through, though in these times all that is certain is uncertainty.

BUILD TO RENT SECTOR ESPECIALLY IN LONDON WAS 20% OF NEW HOME BUILD IN 2020

According to research by the British Property Federation, last year 20% of the housing stock erected in London was for tenants, the BPF commented that, the build to rent sector, ‘has shown its resilience throughout 2020, with investors continuing to drive the sector’s growth across every region of the UK.’

NEW HOMES QUALITY BOARD LAUNCHES

The NHQB has come into being, headed up by MP Natalie Elphicke – who will look to uphold the interests of new home buyers, and interesting idea, especially with the cladding scandal in full flow.

NEW INSTRUCTIONS AT A LOW LEVEL

Lockdown 3.0, the SDLT holiday and general uncertainty is closing down activity in the housing market, agents are now furloughing staff, not because the buyer sentiment has reduced, but because there is a lack of inventory to sell. The sooner the chancellor moved definitively one way or the other, so the agents can get on with their trade in peace knowing the direction of travel.

If you have a view – please let us all know by emailing me at [email protected] – Andrew Stanton Executive Editor – moving property and proptech forward.