BREAKING NEWS – top 5 stories 09/04/2021

Estate Agent Networking Breaking News

HOUSING MARKET – WILL IT BE BOOM OR BUST?

There are conflicting reports about which way the housing market of 2021 will go. Will it continue strong through the year or falter after June?

Having been in that 1988 market and personally selling four properties a week consistently for a year, only to go on holiday for a fortnight and come back to be told the branch sold two properties with four sales people in 14-days, I know that a super-hot market can be switched off. But, the BoE base rate was 13%, 33-years ago, not the 0.1% it is today.

We did not have Help to buy etc, and in 1988 there were 2 million completions, unlike now – where we still see 1.1M as the annual figure for the past 7 years or so, so maybe the market will stay fair to buoyant for a while yet as there has not been a massive uptick.

In fact if you look at the size of growth of the population in the last decade – a static completion rate actually tells us that there just are not enough properties to buy or rent.

Add in the amount of people WFH and needing to move to do that away from their ‘annoying’ neighbours, or to get out of flats and into houses with gardens, and you have new dynamics in the marketplace that never existed pre-covid.

PURPLEBRICKS STARTS £7M CHARM OFFENSIVE VIA NEW PR CAMPAIGN

It has been announced that Purplebricks via a new PR partner is looking at a campaign to grow its digital footprint, it will be interesting to see what shape this takes. Apparently, they are going to re-launch under the banner of being the UK’s tech led agency.

ROI will be interesting as 72% of consumers ‘buy’ off a friend’s recommendation that is why Influencer marketing is so huge, a person you follow and trust, rather than an advert that you never see on YouTube etc, as many pay for an advert blocker. So will big PR cut the mustard?

Purplebrick’s technology credentials are pretty thin too if they are going down the ‘UK’s leading tech led agency’ route, as CBRE which turns over $23BN annually might have something to say about usurping that title.

A better title might be estate agent lite, tech lite, a service that delights neither the digital native or the service hungry consumer. With the annual accounts out soon, will that £7M spend eat all of their profit for the year? I think it will be a close-run thing.

HALIFAX SAYS NATIONALLY HOUSE PRICES ARE ON THE RISE

Halifax building society have released metrics that state house prices have risen by 6.5% in the last 12 months since Lockdown 1.0.

CONVEYANCING UNDER THE SPOTLIGHT

The bottleneck of sales that would have missed the end of March cut off has raised a big debate about the conveyancing element of each sale, and could it be speeded up. And the reticence of the legal profession to adopt technology.

Personally, I feel that if ‘traditional’ conveyancers do not adopt modern ways, their revenue will dry up. As the digital native locusts will search out the digital native conveyancers, I do not think these locusts buy stamps or even own a biro, so cannot comprehend using a company that does. Totally agree that the law society and whole fabric of the legal profession needs to have a good talk to itself and realise that it is not an ‘island’.

If the failures of the retailers, and the ascendency of e-platform businesses like Amazon have not drilled home the message that the consumer – consumes 24/7 365, and buying a property is an act of a consumer in need of UX – so being open 9 to 5 with an hour for lunch and not at weekends is a 1960’s idyll not a 2025 reality.

Many sections of the media re running campaigns on this from the Times looking to reduce the house sale time cycle, to a recent mention on Radio 4’s moneybox.

WINKWORTH HAS A SUBDUED PERFORMANCE

Despite bullish rhetoric, Winkworth announced a pretty mediocre annual profit of £1.63M, it plans to move forward with growth in 2021 and of course has a franchise model within it. Given its London centric base, it will be interesting to see how it fares through the next trading year. Especially as non-doms are now having to find an extra 2% of their London property purchase.

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

Estate Agents should not all look the same
Estate Agent Talk

How to Become an Estate Agent with No Experience

Breaking into the property industry can seem intimidating – especially if you’ve never worked in it before. But the good news? You don’t need years of experience or fancy qualifications to start a career as an estate agent in the UK. In fact, many successful estate agents started with no background in property at all.…
Read More
buying at auction uk
Estate Agent Talk

9 Advantages of Selling Your House by Auction

Selling your house by auction might seem like a daunting prospect, but it comes with numerous advantages that can make it a highly attractive option. While the traditional method of selling through an estate agent has its place, auctions are increasingly becoming a popular choice for homeowners looking for a swift and reliable sale. Here…
Read More
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