Agency
Winkworth predicts strong H2 thanks to backlog of ‘unfulfilled’ sales transactions
Winkworth said it believed there was a backlog of unfulfilled sales transactions which will be carried out in the second half the year.
News
Compliance
Belvoir branch among six agencies expelled by Ombudsman
Six rogue sales and lettings agencies excluded from The Property Ombudsman (TPO) for failing to pay a compensatory award.
Acquisitions
Independent estate agency completes acquisition of rival firm
The estate agency has three well-established offices.
Lettings
Proposed periodic tenancies ‘are very likely to cause an exodus of landlords’
The government’s plans to introduce periodic tenancies are not fit for purpose, says director of lettings at Lewis Haughton Wills.
Agency
Chestertons lures away another long-serving former Foxtons director
Chestertons' latest appointment started his career of 18 years at Foxtons as a negotiator before rising up through the ranks.
Finance
Almost a third of property sales collapse because lenders ‘getting tougher’ – claim
There has been a notable rise in the number of property sales falling through due to tougher mortgage lending conditions, it is claimed.
Finance
Online estate agency agrees partnership to help buyers raise a deposit
The partnership will offer buyers alternative ways to finance their first home.
Agency
Industry ramps up awareness of new ‘material information’ guidance for agents
The National Trading Standards Estate and Letting Agency Team has published industry guidance on phase one of process to improve upfront disclosure of material information on property listings.
Acquisitions
LSL’s mortgage broker Pivotal Growth completes another acquisition
LSL announces that Pivotal Growth, its joint venture established with Pollen Street Capital, has made its fourth acquisition.
Other News
Foreign owners hold £90.7bn worth of property in the UK
On a regional basis, London is home to the highest value of foreign owned homes, with the 85,451 properties belonging to overseas homeowners equating to a total value of £45.3bn.
Agency
Next phase of ‘material information’ rules ‘will be announced shortly’, says NTSELAT boss
Responding to an article by EYE columnist Russell Quirk, James Munro says in general, estate and letting agents have been incredibly supportive of the changes introduced so far.
Agency
Activist investor calls on Purplebricks chair to resign after increasing stake
Activist investor has called on Purplebricks chairman Paul Pinder to quit after taking a 4.2% stake in the online estate agency.
People
Former Knight Frank and Countrywide man quits Fine & Country after 10 months
Fine & Country strengthened its executive team by appointing Simon Leadbetter as its global CEO in September last year. But he has now left the firm.
Finance
Interest rate hikes to hit 40% of UK mortgages, warns BoE
Capital Economics predicts that UK house prices could drop by up to 10% as the Bank of England increases interest rates to tackle inflation.
Agency
PropTech supplier partners with Propertymark to help estate agents grow
The partnership will see the two organisations collaborate on a range of initiatives.
Lettings
PRS seeks advisory panel members
The PRS, the lettings redress scheme with over 13,250 letting agency branches covered, is looking for new advisory panel members.
Finance
Fixed-rate mortgages up at fastest rate in 15 years
Someone taking out a £300,000 mortgage today would be paying an average of £84 per month more than they would have if they took the same deal in June.
Other News
The ‘race for space’ is over as the lure of urban living appeals to more buyers
The lure of city living means the prices of prime properties in urban housing markets are now increasing faster than than top-end homes in surrounding rural areas.
Finance
Government told not to ‘overlook mounting affordability pressure’ amid UK housing supply shortage
The government has announced that a new wave of funding is now available to council's across the country through the Brownfield Land Release Fund to help boost housing supply.
Compliance
OPINION: Jading Standards
Russell Quirk: In recent months, NTSELAT’s James Munro has become all Chris Whitty like in his authoritarian pronouncements aimed at those trying to earn a humble living from property.