BREAKING NEWS – top 5 stories 11/05/2021

AVERAGE RENT IS NOW ALMOST £1,000 PER MONTH

According to an index of data, which includes the London PRS sector, the average rent per month in the UK is £996, take London out of this index it is £853. Perhaps a reason many look to buy rather than rent when they can.

BOOMIN FIVE-WEEKS IN ALREADY OVER 5,000 PLUS AGENTS ON BOARD

Just five-weeks since launch and around a quarter of agents have boarded the Boomin bandwagon. Add to this successful media campaign, (Zara loves the adverts on TV) and if I were behind the launch phase of this new enterprise, I would be feeling good about how things are going.

Adoption takes time, as does an understanding of what a thing does, take video conferencing, it had a niche marketplace, Covid struck, where would we be without it?

With its strap line ‘The game changing property search’ and ‘Home of Secret Properties and Matchmaker’ clearly it is on a mission to define a different path for all stakeholders. For those who have not visited make up your own mind https://www.boomin.com/

80% LOAN TO VALUE MORTGAGES AVAILABLE FOR LANDLORD LENDING

According to publication ‘Mortgage Solutions’ – Habito is now lending to landlords who have a 20% deposit, which is encouraging news as 25% of landlords are seriously looking at acquiring at least one new letting property this year.

CRYPTOCURRENCY DOGECOIN GETS BITTEN BY ELON MUSK COMMENT

Cryptocurrency, which is increasingly becoming a factor as one day buyers of properties may be using them for the purchase, had a setback recently thanks to Elon Musk. Speaking on Saturday Night Live (comedy programme) Mr Musk apparently referred to the currency as a ‘hustle’ leading to its value to drop by over 30%.

I am unsure if Elon is the brightest gent on the planet or a clown, but it does show that Influencer marketing has come a long way, and endorsement also has a double side to it – negative review, in this case software engineers Jackson Palmer & Billy Markus probably wished the digital coin which has a Shiba Inu dog face on it, had not been referenced.

FRONTED GETS ANOTHER £1M OF FUNDING IN LATEST CASH ROUND

Fronted, a Fintech/Proptech service that allows tenants to pay their deposit over a year, rather than take out a one-off insurance product to cover their deposit, as they can not afford it, has just had another round of funding. https://fronted.rent/

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.