BREAKING NEWS – 5 top stories 21/01/2021

Estate Agent Networking Breaking News

SLIGHT DIP IN NON DOMS PURCHASING IN CAPITAL

According to recent data from Search Acumen’ there has been a 5% dip on the amount of property bought in the capital by overseas buyers, this might be the impact of leaving the EU or it could of course be Covid-19 upsetting the supply chain, with investors unable to fly and buy.

The bigger picture will appear in the coming months, especially as extra taxation hits non-domicile buyers in the Spring when new slabs of taxation are imposed by HMRC.

WILL COVID-19 CLOSE THE DOORS FOR AGENTS?

Following the sad death of Sales Manager Gavin Wilkinson, at the Southern Norfolk branch of WH Brown, due to complications arising from Covid-19, many agents are wondering what the best way forward is? Some agencies have a policy of all the team working from home, with no physical viewings taking place, others have teams going into offices.

With record levels of deaths being recorded, there still seems a lot of pressure for the government to announce its view on the real estate sector, as some industry commentators are questioning if estate agency is an essential service.

TWO NEW PROPERTY PORTALS LAUNCH – BOTH ON A QUEST TO BE A LOCAL SOLUTION

Looking to service the upmarket area of Sutton Coldfield and the environs nearby three agents have set up, ‘Localmove’ to try to wrestle back some control from the main portals. This comes in the same period that ‘WeAreTheMarket also launched, again with the idea of having a micro-handle on presenting inventory to the public.

RENTS STILL RISING DESPITE THE PANDEMIC

Despite the amount of arrears now accruing by many landlords as tenants battle to pay the rent, according to the Office for National Statistics, rents in England & Wales are still moving upwards.

‘Private rental prices paid by tenants in the UK rose by 1.4% in the 12 months to November 2020, unchanged since October 2020. Private rental prices grew by 1.4% in England, 1.6% in Wales and 0.6% in Scotland in the 12 months to November 2020. The South West was the English region to see the highest annual growth in private rental prices (2.3%), while the South East saw the lowest (0.9%).’ Source ONS.

HOUSING SECRETARY PROPOSES YET ANOTHER REGULATOR

In what may be one of his final pieces of work, if he gets shuffled by Boris Johnson, Jenrick has countenanced the setting up of a regulator to look into the suitability of materials used in construction, with the power to take them out of the supply chain, or penalise builders jeopardising the safety of those who will inhabit the properties built.

Coming off the back of the problems caused by the Grenfell debacle, the Housing secretary commented the inquiry, ‘has heard deeply disturbing allegations of malpractice by some construction product manufacturers and their employees, and of the weaknesses of the present product testing regime.’

Andrew Stanton

CEO & Founder Proptech-PR. Proptech Real Estate Influencer, Executive Editor of Estate Agent Networking. Leading PR consultancy in Proptech & Real Estate.

You May Also Enjoy

Breaking News

Popping the Asking Price Bubble

Where in the Uk Can Buyers Snap Up Property Bargains and Where Properties Go for a Premium Above Asking Price   New research from fast selling property company, Upstix has uncovered the UK’s most surprising postcodes for snapping up a property at bargain prices this year, highlighting a widening gap between sellers’ expectations and the…
Read More
Rightmove logo
Breaking News

Highest demand to lease office space since pre-pandemic

The latest insights from the UK’s number one commercial property website Rightmove, reveals that the number of unique enquiries to lease office space is at its highest point since pre-pandemic, as businesses look for spaces that meet modern requirements. Demand to lease office space is 19% higher than the same period a year ago and…
Read More
Planning disputes on new build land
Estate Agent Talk

Planning consultations for major infrastructure to be streamlined

Robert Bruce, a planning and infrastructure partner at law firm Freeths LLP, said he: “Welcomed the change as a significant step to speeding up the DCO process and the focus on the quality and effectiveness of the consultation, rather than box ticking and a risk averse approach to pre-application consultation due to the current legal…
Read More
Breaking News

‘The property ladder pulls further away’ warns Open Property Group

For many first-time buyers across England, the dream of homeownership continues to slip further out of reach. Despite rising wages, soaring house prices are making it harder than ever to get on the property ladder. A leading UK professional house buying company ‘Open Property Group’ based in Buckinghamshire UK, has raised concerns over the ongoing…
Read More
Estate Agent Talk

How Long It Takes to Buy a House in the UK: 5 Common Delays That Can Slow Down Your Home Purchase

Wondering how long it takes to buy a house in the UK? The average timeline ranges from 8 to 22 weeks, but even that can stretch significantly due to unexpected delays, especially if you’re a first-time buyer or caught in a chain. That’s why working with experienced professionals like Belvoir — one of the UK’s…
Read More
Love or Hate Rightmove
Breaking News

Rightmove to host Renters’ Rights Bill webinar with Guild of Lettings

Rightmove is hosting a live and interactive webinar session with the Guild of Lettings to help agents get Renters’ Rights Ready. The webinar will take place from 10:00am – 11:00am on Wednesday 23rd April. Susie Crolla, Managing Director for the Guild of Lettings, will be joining Rightmove to help agents with questions they may have about…
Read More