UK economic outlook downgraded to ‘negative’ by rating agency
The UK’s economic outlook has been downgraded from “stable” to “negative” by the rating agency Moody’s because of political instability and high inflation.
News Archive
EYE NEWSFLASH: Rightmove appoints new CEO
Rightmove has found a replacement for Peter Brooks-Johnson – it was announced in May that he would be stepping down from the board and leave the company.
High street estate agents set for sharp rise in business rates bill
High street estate agents are expected to spend significantly more money next year in business rates.
BTL landlords must hike rents to cover costs or ‘cut their losses and sell’
The pressure is on for private landlords, and the situation is not improving.
Rents hit new record as city tenants look to downsize
It is a real challenge for renters at the moment, as there are simply not enough homes available to rent to meet the demand from people enquiring.
Comings & Goings
Snippets of property industry news: Savills announces new Private Office heads; Lawrence Stephens hires head of residential real estate; Senior promotions at Bruton Knowles
Estate agency hopes carbon offsetting offer will boost new instructions
The estate agency is offering to cover the cost of the first year of carbon offsetting for all new instructions received by the end of this month.
Estate agency window smashed as traders told to stay vigilant
An estate agency in Norwich had its windows smashed in what appears to be a mindless act of vandalism.
BTR market set to increase fivefold and be worth £170bn by 2032
Build to Rent has grown across the UK’s core cities and towns.
‘Green’ mortgage discounts a key tool in encouraging upgrades
Landlords are increasingly taking up mortgage discounts linked to EPC improvements, but many are still unaware of the savings available.
EYE NEWSFLASH: Liz Truss resigns as Conservative leader after MPs revolt
The prime minister said her successor will be elected in a Tory leadership contest, to be completed in the next week.
EYE NEWSFLASH: Zoopla to make a substantial number of employees redundant
Up to 68 staff members at Zoopla face potential redundancies, after the business entered a consultation process with employees this afternoon.
Homeowners start to downsize in response to cost-of-living crisis
The housing stock squeeze is beginning to ease.
Estate agency stock levels hit 18-month high as homeowners look to sell up
New properties coming to market which are not priced realistically are likely to struggle to sell and stick on the market.
Hybrid and online estate agencies increase market share in Q3
Hybrid and online estate agents increased their overall market share.
Sharp jump in number of ‘people wanting to get their homes valued and sold’
With the economic climate changing, sellers are being warned that they will need to be realistic about the prices they might achieve.
Estate agents told to be wary of ‘more complex’ compliance responsibilities
AML and sanctions regulations are weighing heavily on many regulated firms.
Risk management platform aims to speed up property sales with new feature
New innovation comes in response to increasing regulatory burden for estate agents, lawyers and other regulated professionals in the property chain.
Landlords plan to offload properties amidst soaring mortgage costs
Economic crisis could lead to a ‘mass exodus of landlords’, warns association.