BREAKING NEWS – 5 top stories 25/01/2021

Estate Agent Networking Breaking News

COUNTRYWIDE PLC – THREE WEEKS AND COUNTING

It is just three weeks before the shareholders of Countrywide Plc vote on whether or not to accept the Skipton building society (they own Connells) cash acquisition to purchase them. If the deal happens, the new owner has said that it will not look to make huge closures of branches but will look to technology to streamline processes, and there will be some changes with duplication at head office level.

Maybe the biggest question is – ‘Who will be running the show if it does happen?’

HM LAND REGISTRY RAMPS UP ITS RHETORIC ON HELPING OUT

The COO of HMLR Chris Pope, has said that the digital road map that has been worked on for some years is now bearing fruit and the real estate industry will see some further pushes in 2021,

‘We know the industry is under immense pressure right now, which is why we are focussed on streamlining the customer experience and accelerating change where possible. By the end of the year, we expect all customers to receive a simpler, faster service.’

Typical that he speaks of a better service opening up nine-months after the SDLT holiday ends.

EXPECTED MASSIVE TOTAL NUMBER OF COMPLETIONS IN DECEMBER 2020 CONFIRMED

2021 was of course the housing market like no other, with its stop-go mentality, and the new impetus of the SDLT holiday from the Chancellor. All this translated into a skewed amount of people moving into property in December 2020.

The official figures say that nearly 130,000 completions took place last month, which is over 30% more than the December 2019, and the biggest amount of move-ins for a decade.

OVER 300,000 PROPERTIES IN THE COLLECTIVE PIPELINE OF AGENTS & DEVELOPERS

With no parliamentary debate in site, regarding the SDLT holiday, figures suggest that at present there are going be many agents re-negotiating sale prices, as the 31st of March completion date now seems very close. One major problem is that it is not a simple matter of a chain, absorbing a £15,000 amount, the saving of SDLT at a £500,000.

If a chain had two or three buyers all at the maximum limit, that would mean, having to factor in £30,000 or £45,000 plus to find; we shall see if the Chancellor does anything on the 3rd of March to help in his budget.

HUNTERS SALE – NEGOTIATIONS EXTENDED DOES THIS MEAN A DEAL WILL BE DONE?

As we reported we are going to see a whole host of acquisitions, mergers, and collaborations in 2021, driven by economic necessity, high amounts of cash swirling around and a consolidation of the power base of how agency is done and by whom, we now learn that The Property Franchise Group are getting closer to doing a deal with Hunters.

The official deadline to state a deal is on was last Friday but in a telling statement Hunters said, ‘Discussions with TPFG regarding a possible offer for the Company remain ongoing and, to allow further time for these discussions, the Board of Hunters has requested, and the Panel on Takeovers and Mergers (the “Takeover Panel”) has granted, an extension to the deadline for TPFG referred to above. Accordingly, TPFG must, by no later than 5.00 p.m. on 29 January 2021’

So by dinner time this Friday we will know if the ride is on or not.

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

Majority of Tenants Unsure How Changes Will Affect Them, Says LRG

With major changes to the private rental sector on the horizon, 62% of tenants say they don’t know whether the government’s Renters’ Rights Bill will address their concerns – highlighting a growing need for clearer communication around what the reforms will mean in practice. LRG’s latest Lettings Report shows that while landlords are widely aware…
Read More
Home and Living

Perfume Storage Tips: How to Keep Your Fragrances Fresh

Perfumes are sensitive compositions that can be significantly affected by how they are stored. Proper storage ensures that your favorite fragrances stay fresh and maintain their intended scent profile. In this article, we’ll explore practical, fun, and effective tips to help you preserve your perfumes in perfect condition. Understanding the Sensitivity of Perfumes Perfumes are…
Read More
Breaking News

Renters’ Rights Bill Delay Causing Uncertainty for Tenants and Landlords

Ministers need to tell landlords and tenants when measures in the Renters’ Rights Bill will take effect the National Residential Landlords Association (NRLA) is today warning. The Government pledged last year to abolish Section 21 ‘no explanation’ repossessions and to make other changes to the rental market this summer. With the Bill not scheduled to…
Read More
Breaking News

Breaking Property News 02/04/25

Daily bite-sized proptech and property news in partnership with Proptech-X.   Made Snappy 360 appoints new CEO and Sales Director to accelerate growth in the property technology space Made Snappy 360, the fast-growing proptech company known for its virtual tours and floor plan technology, has appointed industry veteran Mark Beresford-Ward as its new Chief Executive…
Read More
Home and Living

Expert reveals the exact date parents must start renovating in time for summer

Loft and attic renovations are gaining popularity this spring, with nearly 11,000 monthly Google searches, highlighting them as one of the top home renovation projects Brits are planning in the coming weeks. Loft conversion specialist Sally McClean, loft conversion specialist from Enfields loft conversions Rooftop Rooms, shares the exact dates homeowners should start their renovations…
Read More
Breaking News

Nationwide HPI – Annual house price growth steady in March

Annual rate of house price growth remained stable in March at 3.9%, unchanged from February Northern Ireland remained the top performing area, with annual price growth accelerating to 13.5% London weakest performing region, with 1.9% year-on-year rise Commenting on the figures, Robert Gardner, Nationwide’s Chief Economist, said: “UK house price growth remained stable in March…
Read More