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

Breaking News

Student rental chaos looms as Govt axes fixed-term contracts, agents warn

More than one in three letting agents fear academic lettings cycle will collapse Landlords already pulling out of student market amid Renters’ Rights Bill concerns Alto calls for urgent rethink – as fears mount over voids, admin, and rising rents Letting agents are warning of an approaching crisis in the student rental market just weeks…
Read More
Estate Agent Talk

Feeling BAMBOOzled by that pretty plant triggering neighbourhood disputes?

Bamboo is often pretty to look at in a garden and can be perceived as a nice addition to it. However, do not be deceived by its good looks, as it has the potential to not only cause damage to your home and potentially inflict thousands of pounds’ worth of damage to your property but…
Read More
Estate Agent Talk

The 5 Ultimate Process-Mining Advantages in Data-Driven Decision Making

Organizations create tremendous levels of data daily in the current dynamic business environment. That is not an issue of gathering this data, but how to properly utilize it to enhance the processes, increase efficiency, and make more intelligent decisions. It is here that process mining emerges as a formidable tool for the business endeavouring to…
Read More
Rightmove logo
Breaking News

Rightmove asks government to carefully consider property tax changes

The UK’s largest property platform Rightmove is asking the government to carefully consider the impact of any changes to property taxation to avoid unintended consequences which would risk stalling parts of the market. Key data National property tax Just under a third (30%) of homes for sale in England are priced at over £500,000, and…
Read More
Estate Agent Talk

Get Fast and Reliable Basement Flood Cleaning Services

Having water in your basement is awful. It could be because of a storm, busted pipe, or bad sump pump. Whatever the reason, water damage in your basement has disastrous effects if not dealt with. Basement Flood Cleaning Services are what you need. They will dry it out, disinfect the floor, and have your basement…
Read More
Breaking News

Breaking Property News 21/08/25

Daily bite-sized proptech and property news in partnership with Proptech-X.   Providing comprehensive, predictive operational intelligence across all aspects of building operations  JLL (NYSE: JLL) this week introduced artificial intelligence (AI) capabilities that are now available as an add-on to Prism, its award-winning building operations platform. As part of JLL’s property management technology ecosystem powered by…
Read More