BREAKING PROPERTY NEWS – 16/11/2021

Estate Agent Networking Breaking News

Daily bite-sized proptech and property news in partnership with Proptech-X.

 

  1. Boomin launches ChainMaker tool to help agents and clients
  2. Rightmove’s latest House Price Index report hints at Christmas fire sale
  3. Will COP26 be the start of joined-up thinking on carbon emissions?

 

Boomin launches ChainMaker tool to help agents and clients

Boomin, the next generation property portal founded by Michael Bruce, has just announced its latest digital service, ChainMaker. Set to help residential property sales when they fall through, enabling buyers to register interest in ‘sold subject to contract’ properties.

ChainMaker is an excellent initiative, where data meets real estate at the micro-level, leveraging solutions that all stakeholders can benefit from. The concept behind the application is that there will be a ready to go list of second-string buyers should a sale falter at any stage before the exchange.

At present, sales that fall through are a huge collective pain point for agents, leading to loss of potential income. So too for buyers and sellers, with typically 26% to 32% of sales failing depending on the type of housing market conditions.

With 1.2 to 1.4 million properties completing each year, losing 30% of these sales prior to an exchange is a costly and nerve-wracking outcome for all involved. ChainMaker looks to address that.

Boomin are now using new software to solve problems residential agencies have had for decades, much like how the banking app Revolut is digitally re-plumbing the antiquated practices in banking by adding speed and transparency and a UX worthy of the modern age.

Michael Bruce said: “ChainMaker goes to the very heart of what we are trying to achieve as a business; using technology to re-establish the direct connection between local agents and customers, whilst providing support and a boost to housing market activity levels.”

 

Rightmove’s latest House Price Index report hints at Christmas fire sale

Rightmove logo

Rightmove recently published its November 2021 House Price Index, revealing some interesting takeaways ahead of Christmas. The index states that we’re likely to see the biggest price drop since January, with sellers hoping to tempt buyers before Christmas.

Tim Bannister, Rightmove’s Director of Property Data said: “Despite the soaring property market and consequent shortage of choice of homes for sale for prospective buyers, new sellers have given buyers an early Christmas present by dropping their average asking prices by 0.6%.

“Sellers who come to market this close to the distractions of Christmas often have a pressing reason to sell, so naturally price more attractively to grab the attention of prospective buyers who may be otherwise occupied. We expect this downward price trend to be relatively short-lived, though sellers who are in a hurry will continue to need to attract buyers for most of December as well.”

Some of the key takeaways from the index are as follows:

  • The price of property coming to market drops by an average of 0.6% (-£2,044) compared to last month, the largest monthly fall since January
  • The number of people browsing properties on Rightmove during the post-Christmas Day festive period has been increasing every year, with visits on Boxing Day last year 54% higher than the previous year
  • The number of people beginning the selling process by requesting a valuation from an estate agent via the Rightmove website was 14% higher in October than the same period last year, a sign of building momentum
  • With the current price lull expected to last until Christmas, buyers who have seen their affordability sorely stretched in 2021 may also benefit by securing a fixed-rate mortgage before the widely anticipated interest rate rise

Read the House Price Index in full here.

 

Will COP26 be the start of joined-up thinking on carbon emissions?

Almost as a sidenote to COP26, there was a fringe event calling for national governments to globally address carbon emissions in the building of the property asset and its ongoing functionality.

Aptly enough the discussion was put together by Stora Enso, which provides prefabricated and wood-based systems to the construction industry.

Speaking for the company, Lars Völkel commented that a lot of the emissions were hard-baked into the materials and processes that go into the component parts of buildings.

Völkel said: “Most of these embodied emissions are released before the building is used. Our industry has an inescapable duty to do better for the planet, for all of us, and we call upon the world’s governments to support us in doing so with regulations and building standards fit for the modern world.

A collective made up of Stora Enso, WEB Limited Group, the World Business Council for Sustainable Development, the World Green Building Council, Lendlease and Google debated how the construction industry can better solve the problems it creates, looking for ways to soften the impact of construction.

Völkel stated: “A striking 10% of global carbon emissions are said to come from materials and construction processes.” With an alarming figure like that, it’s unsuprising that the focus is well and truly on this area.

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

Property for sale
Estate Agent Talk

5 Top Tips for Increasing the Value of Your Home

For some people, buying a home, working on it and then selling it is the primary goal to keep upgrading homes. Whether you choose to re-decorate or re-model the property, a renovation of your home can help to keep the ball rolling towards enabling you to secure a profit on your next house sale. Whilst…
Read More
Breaking News

Sdlt Hike Spurs Record Home Sales by Auction

iamproperty is crediting the recent Stamp Duty Land Tax (SDLT) hike and rising consumer awareness as the reasons behind a record-breaking quarter for Auction. The market conditions led to an 11% increase in the number of iamproperty Auction sales in the first quarter of the year, compared with the same period last year. iamproperty’s Partner…
Read More
Breaking News

Changes to mortgage affordability to support sales as house price growth cools

House price growth has slowed to 1.6 per cent annually, down from 1.9 per cent at the end of 2024, as buyer interest cools and the number of homes for sale continues to expand Buyer demand is one per cent higher than a year ago, while the number of homes for sale is 12 per…
Read More
Love or Hate Rightmove
Breaking News

Rents rise to new record despite boost in supply

The average advertised rent of homes outside of London has risen to a new record this quarter of £1,349 per calendar month (pcm), however it is the smallest increase in rents at this time of year since 2020: London rents also rise by 0.1% (+£3) to a 14th consecutive new record of £2,698 pcm this quarter…
Read More
Breaking News

Size Matters in Planning

The House Builders Association (HBA), the housebuilding division of the National Federation of Builders (NFB) has reignited its campaign for the planning system to adopt five clear site size definitions, replacing the current, arbitrary ones of ‘Minor’ (one to ten homes) and ‘Major’ (ten and above). Richard Beresford, Chief Executive of the NFB, said: “In…
Read More
Breaking News

Popping the Asking Price Bubble

Where in the Uk Can Buyers Snap Up Property Bargains and Where Properties Go for a Premium Above Asking Price   New research from fast selling property company, Upstix has uncovered the UK’s most surprising postcodes for snapping up a property at bargain prices this year, highlighting a widening gap between sellers’ expectations and the…
Read More