BREAKING NEWS – top 5 stories 13/04/2021

Estate Agent Networking Breaking News

STEPHEN MURPHY NAMED AS NEW CHAIR OF BOOMIN

The C-suite of Boomin looks like it has gained a major coup with the appointment of Stephen Murphy (Ex-CEO Virgin), and there is also news of a £25M funding round. Both of these factors clearly show that Boomin is very much in it for the long haul, all which comes less than a fortnight after their official launch on the 2nd of April.

THOUGH OFFICIALLY THE UK ECONOMY HAS SHRUNK – HOUSING STILL GOING STRONG

Economic indicators given by the Office for National Statistics show that the economy shrank by nearly 8% comparing February 2020 to February 2021. Clearly not a good headline figure. The property market though is of course at present bucking that trend.

LONDON SUPER PRIME MARKET ROARS AHEAD IN IT IS OFFICIAL

Recent statistics show that despite the pandemic, lockdown, the inability for non-domiciles to fly into the UK to buy, London still led the world in the number of properties sold above the £7M price tag.

With just over 200 of such sales, it outpaced Hong Kong which only managed around 170 sales. The big question will be in 2021 which way will this market perform? Many pundits feel that the super-rich, have not really been touched by the pandemic, and with many in tech related verticals they are personally seeing a boom time in their earnings and ability to buy big ticket items.

AVERAGE HOUSE PRICE IN MARCH HITS NEW HIGH OF £254,606

Figures just released show that the average house increased again by over 1% in March, which now means that on average a typical property is worth over a quarter of a million pounds.

FEWER RENTAL PROPERTIES CHANGED HANDS IN 2020

Unsurprisingly, 2020 was a record year for the fewest number of rental properties sold, clearly the lockdowns, rent arrears and lack of court action effectively meant that even if some landlords wished to sell their inventory 2020 was not the year.

Records show that around 130,000 rental properties got sold last year, the lowest number for eight years. Though of course with rising rents maybe some landlords are thinking that holding on may be a better gambit than selling and paying the tax if the exit the market.

Andrew Stanton

CEO & Founder Proptech-PR. Proptech Real Estate Influencer, Executive Editor of Estate Agent Networking. Leading PR consultancy in Proptech & Real Estate. Want to contact me directly regarding one of my articles or maybe you'd like a chat about future articles? Email me via editor@stagingsite.estateagentnetworking.co.uk

You May Also Enjoy

Breaking News

Freehold and Leasehold Reform Act-lessees can control their own destiny

Matthew Pennycock, Minister of State for Housing and Planning, has made a Parliamentary Statement regarding the future progress of the Freehold and Leasehold Reform Act 2024. The Government have formally recognised the “significant complexity of the task” and that the legislation was rushed in at the end of the last parliament and as a result…
Read More
Rightmove logo
Breaking News

Rightmove’s weekly mortgage tracker 22/11/24

The current average asking price of a typical first-time buyer property is £225,340. For someone taking out an average five-year fixed, 85% LTV mortgage, the average monthly mortgage repayment on this type of home is now £1,104 per month if repaying over 25 years, compared with £1,138 per month a year ago (when the average first-time buyer property asking price was…
Read More
Estate Agent Talk

The Architecture Of Attention Behind Social Media Addiction

In the digital age, social media platforms have revolutionized how we connect, share, and consume information. Behind their sleek interfaces lies a sophisticated architecture of persuasive technology.  These platforms employ intricate design patterns and technical elements to capture and hold user attention. From subtle visual cues to complex algorithmic systems, every feature serves a calculated…
Read More
Breaking News

2025 Predictions for the Private Rental Sector

Allison Thompson, National Lettings Managing Director, Leaders Romans Group (LRG) “As we approach 2025, the lettings industry is entering a phase marked by stabilisation and opportunity. Rental inflation has slowed to an average of 3-4% for new lets, reflecting the effects of affordability constraints; renters’ budgets are beginning to limit how much rents can rise.…
Read More
Breaking News

Response to Matthew Pennycook’s Statement on Leasehold Reform

Yesterday, Secretary of State Matthew Pennycook made a Ministerial Statement on the future of leasehold reform. Responding, Mark Chick, director of ALEP and a Partner at Bishop & Sewell LLP said: ALEP welcomes the ministerial statement which puts in place a timeframe and some objectives for the implementation of the Leasehold & Freehold Reform Act.…
Read More
Estate Agent Talk

Essential Garage Storage Solutions for Small Spaces

Maximize your garage space with practical storage ideas that keep your items organized and accessible. If you’re dealing with a smaller garage, smart solutions can make a big difference in keeping your space neat and usable. 1.  Wall-Mounted Storage Wall-mounted storage is an excellent way to save space and keep your garage organized, especially in…
Read More