Sales volumes are tumbling but is it Brexit, Stamp Duty or a lack of stock?

Sales volumes are tumbling but is it Brexit, Stamp Duty or a lack of stock?

The latest house price indices have been published by both Rightmove and The Office for National Statistics this week. We have also had an update from HMRC on the number of homes sold in February. In summary;- Average asking prices are up 2.3% over the last year. Average sale prices are up 6.2% over the past year. The number of homes sold last month (seasonally […]

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Policing Estate Agents

Policing Estate Agents

An article on the BBC News website following yesterdays You and Yours program on Radio 4 highlighted the continuing problems that consumers face with rogue letting agents. Despite the efforts of many including ARLA to get some sort of licensing or registration of letting agents and a change in the law requiring letting agents to sign up to a redress scheme as selling agents must […]

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A shortage of homes for sale

A shortage of homes for sale

Apparently there’s a shortage of homes for sale which is helping to push up prices. This is classic spin from estate agency groups looking to talk up their book. Preying on potential sellers worries that they may not find a buyer quickly there’s nothing like a “there are 11 buyers for every home” headline to get new business in. Except this isn’t really the case. […]

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Cash buyers

Cash buyers

The Nationwide published their month house price update but included some really interesting data on ‘cash’ buyers – those presumably that the Nationwide doesn’t count as customers or include in their housing data. What is important to note is just how many people are now buying a property without a mortgage. The implications are important – it means Government has less control over the market […]

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February market update

February market update

The Times published a pretty scary front page over the weekend and whilst many sellers will argue with the sentiment there is some evidence to substantiate their concerns. An industry update from estate agents last month suggested that the average office had 41 homes for sale but sold just 6. Not impressive when you consider that they were reported to have 390 buyers registered. The […]

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Market numbers

Market numbers

If you search Rightmove today for £1m plus homes in London there are over 12,000 listing. According the the latest update from The Land Registry last month there were 365 sold. The total will climb as completions are registered but it does illustrate the importance of sellers getting a good agent to help them find a buyer and to buyers of just how keen agents […]

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