Breaking Property News – 05/09/2023
Daily bite-sized proptech and property news in partnership with Proptech-X.
NRLA acquires James Kent’s Safe2
Apologies James, I definitely owe you a pizza for my tardiness in getting this good news story out there. For anyone who has not heard in these difficult times, that great businesses still get to the winning post, here is your case study. Founder of Safe2 James Kent at a very tender age has managed to get from MVP to exit. Well he still will be very much be welded to that driving seat, and with the added help of Ben Beadle CEO of NARLA and the supporting team no doubt will be scaling things up at speed.
Set out below is the official NARLA press release, and I am sure that everyone who knows both Ben & James will see that this a strategic tie up that is a true win for both.
PRESS RELEASE – London September 2023.
‘Private landlords will find it easier to ensure rental properties meet all required standards thanks to investment in new services by the National Residential Landlords Association (NRLA). The NRLA has purchased Safe2, a provider of all forms of property safety certification. It provides landlords with a single service to ensure gas, electrical safety and energy performance certificates are up to date.
When a safety check determines that a property has not met legal minimum standards, Safe2 can provide a quote for whatever remedial work might need to be undertaken to address any outstanding issues. Where they rectify the problem, they will re-test the relevant system free of charge. Aside from these benefits, NRLA members will also be entitled to a five per cent discount when using any of Safe2’s services.
The NRLA has also launched its new online property management tool, ‘Portfolio’. The digital platform, which is free for all NRLA members, will make the lettings process more efficient by providing landlords with a single place to manage all aspects of a tenancy. Portfolio’s functionality means users can create tenancy agreements, organise property viewings, manage all communications with tenants, and ensure landlords are complying with their legal obligations.
The platform also gives landlords easy access to the NRLA’s award winning advice services. Likewise, members will be able to use the information on Portfolio to advertise rooms and properties to let on Rightmove and Zoopla.
Ben Beadle, Chief Executive of the National Residential Landlords Association, said: “The vast majority of landlords already provide safe and decent housing. But with major reforms to the sector on the way, we want to make it easier for landlords to meet all their legal obligations, manage their properties and provide the best service possible to their tenants.
“The investment being made by the NRLA in new technologies and digital services will help us to achieve these objectives. It will ensure responsible landlords are easily able to meet their legal requirements, at the same time as giving tenants greater confidence that the properties they rent are safe and secure.”
James Kent, Managing Director of Safe2, said: “Safe2 has already been partnering with the NRLA, and today’s announcement is a great step forward. It demonstrates the NRLA’s commitment to giving landlords all the tools they need to ensure the properties they rent remain safe (and) “I look forward to working as part of the NRLA team to ensure we continue to provide the services landlords and tenants need in an ever-challenging environment for the rental market.”
RE/MAX Insights Q2/2023: European Real Estate Shifts to Buyer’s Market
Press Release – RE/MAX Europe, the real estate network represented by over 30,000 agents and 2,400 offices in 40-countries, has released its second European Housing Insights Report 2023, revealing key developments in the European residential real estate market.
Findings of the report – which leverages RE/MAX Europe’s data and regional leadership insight – show a clear shift to a buyer’s market in Europe with significant opportunities for those looking to purchase. Key insights, which consider pan-European trends as well as more in depth analysis of Portugal, Spain, Italy, France and Germany, include;
Property prices in the European Union fell on average by 0.7 percent from Q4 ‘22 to Q1 ‘23, reflecting the higher interest rate. Property listing prices in main cities across Spain, Germany, Portugal, France and Italy rose on average by 2.5 percent from Q1 to Q2 ‘23, adding volatility to the market.
A 0.9 percent increase in pan-European rental prices from Q4 ’22 to Q1 ’23 demonstrates rising demand for rental properties amid declining purchasing power. High foreign investment is seen in tourist areas, offering stable opportunities for sellers. Further slowdown of new home construction due to increased building and labour costs, along with higher interest rates, is adding pressure to the market.
The complex and nuanced European housing landscape demonstrates the impact of the low interest rate era coming to an end, with changing dynamics of demand and supply. The number of listings has increased in many markets in the first half of 2023.
However, properties are taking longer to sell. Other characteristics of the market include significant price differences between European regions, increased foreign investment and strong growth in the rental sector. Disparity between listing prices and sale prices across Europe is also marked.
In Q2 2023, three percent more people rented a property in Italy, Portugal, Spain and Germany compared to the same period the year before. The uptick in demand paired with the recent inflationary changes explains striking rental price increases in these key markets across the same period; Italy (+67 percent), Portugal (+54 percent), Spain (+41 percent), and Germany (+27 percent).
Michael Polzler, CEO at RE/MAX Europe, said: “The market is going through a time of volatility and change, however, there are still exciting pathways forward available to many. It is difficult for both buyers and sellers to navigate and the guidance and support of a qualified real estate agent is crucial.
Buyers are well positioned to explore a range of promising opportunities with an abundant selection of properties to choose from. This grants them excellent negotiation power, enabling them to seize the best deals available in the market. Sellers can also capitalise on increased foreign interest and the shift in preference towards renting.”
Andrew Stanton Executive Editor – moving property and proptech forward. PropTech-X
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