TheNews PORTALS
Zoopla sees traffic grow
Alex Chesterman
Zoopla.co.uk received record levels of website visits and enquiries to members over August. Visits to
Zoopla.co.uk
over the first three weeks of August were up 45 per cent on last year, the number of leads sent by
Zoopla.co.uk to agents and developers reached 250,000 in the third week of August. Mobile activity traffic was up 200 per cent year- on-year. Alex Chesterman, Founder &
CEO of
Zoopla.co.uk said, “The traffic figures we are seeing and level of enquiries we are generating from each of our brands are very encouraging.”
EXPANSION Let’s buy
Martin & Co, has seen an increase in buy-to-let property enquiries since their launch into sales. Existing landlords and new investors want to take advantage of rents increasing, house prices falling and low interest rates. Investors are being advised
that whilst rent can provide an annual income stream, a fall in the capital value of the buy-to-let property can quickly turn an investment into a loss and that mortgages aren’t as freely available as they once were. There are deals available to those with a deposit of 25 per cent or more but many providers are expect monthly interest payments to be 125 per cent of monthly income. Scott Burgess, Franchise
Director at Martin & Co says, “There is an increase in demand for rental properties as first time buyers are struggling to save deposits and because of this, rents are increasing.”
6 l October 2012 l TheNegotiator ACQUISITIONS
Spicerhaart expands
Spicerhaart has completed the acquisition of Horsham-based Harper James. There are no plans for rebranding with Spicerhaart focusing on increasing its portfolio of properties in the mid to upper end of the market. Experienced local estate agent Lee Brace has been appointed to oversee the running of the branch. The purchase of Harper James forms part of an ongoing acquisition strategy to develop its presence across the UK. Paul Smith, Chief Executive
Officer of Spicerhaart said, “This acquisition highlights our position as the most acquisitive
independent estate agent in the UK.” Meanwhile
Paul Smith
Spicerhaart has been named as a regional finalist in the Apprenticeship Awards 2012 in
recognition of the quality of the programme that it runs at its Colchester headquarters. In the last four years more than 40 employees have completed apprenticeship and a number have subsequently gone on to be promoted to junior management positions.
FORECAST
Chesterton Humberts’ 2012 re-forecast
Chesterton Humberts has revised down its 2012 annual forecast. Having initially predicted that average national house prices would remain flat, the agent now estimates that prices will actually drop by 2.5 per cent as economic conditions continue to affect the market. Most experts had expected
the Eurozone crisis to be resolved and mortgage lending to have increased by this time but the economy has contracted every quarter this year, changing the context of the housing market considerably. Despite Government initiatives to improve mortgage availability, approvals continue to slump and consumer appetite for borrowing remains weak. Chesterton Humberts is
COMMENT Credit crunched
“When the first signs of the credit crunch were seen in August 2007 nobody could have foreseen the impact it would have,” says Conor Murphy, Managing Director of Capricorn Financial, “After 100 years of growth UK
home ownership (from 23 per cent in 1918 to a peak of more than 70 per cent in 2007) ownership rates are falling fell and are now below 68 per cent. Attitudes to personal credit
have changed: lenders demand ever higher deposits, along with tighter criteria and full capital repayment loan
structures while borrowers now show a reluctance to borrow beyond their means and repay debt as quickly as possible; evidenced by the record levels of mortgage and other household debt repaid over the past 12 months. These changes are broadly
positive. The housing market is a more realistic place and if these changes are maintained it will be more stable. This should in turn help to return us to a situation where housing is seen as a sound investment for all parties, be they home owners or buy-to-let landlords.”
projecting that London will continue to outperform other regional markets in the period 2013-2016, averaging + 5.3 per cent p.a. followed by the southeast at 4.1 per cent. Prime London is set to average 8 per cent annual growth driven by strong international demand and a shortage of stock. Hence the 2012 London projection has been raised to +3.7 per cent from 0.3 per cent in Chesterton Humberts’ last forecast. The North East will remain the laggard, averaging 2.9 per cent - an improvement on its 2012 average growth of - 4.5 per cent. Nick Barnes, Head of
Research at Chesterton Humberts said, “We are slowly seeing house prices rise outside of London, despite restricted mortgage lending and a
Nick Barnes
lack of trust from consumers. As long as Government initiatives work and barring another economic shockwave, all regions could experience positive growth from 2013.”
www.thenegotiator.co.uk
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