TheNews


PROPERTY MANAGEMENT


Chainbow merges block management book with Trinity Estates


Richard Shamsi Below: Market View Pro


Roger Southam


London-based Chainbow has merged its block management portfolio with Hertfordshire- based Trinity Estates. The merged company will


be called Trinity Chainbow and create one of the largest block management firms across England and Wales. Trinity employs 115 staff to manage in excess of 35,000 units across 600 developments. Managing director, Jonathan Smith, says, “Not only in London going to benefit from a surge in new housing stock, particularly within zones one and two, but existing blocks that have been neglected are no longer putting up with bad management. “This merger is an opening an opportunity for both companies to pool our resources and cater to the growing number of blocks, not only in the capital, but throughout the nation, which are looking for a better service.” Roger Southam (pictured), who launched Chainbow in 1989, says, “Since the beginning of the property downturn, we have seen more and more blocks change management to ensure they are getting value for money, “Everyone is still feeling the pinch, and what Chainbow and Trinity Estates have always delivered is transparency, accountability and regular communication with leaseholders, freeholders and tenants.” The Chainbow Limited brand will continue to operate independently from Trinity Chainbow.


8 l March 2012 l TheNegotiator


PORTALS DPG enhances marketing options


A limited number of featured advertising slots are up for grabs for Digital Property Group members, as part of a push by the portal to enhance its marketing services. Three postcode slots are


available for FindaProperty.com and two for PrimeLocation.com and, for the first time, a single agent is now able to purchase all available spots and dominate their area search. The slots allow agents to upload their own creative, such as a vendor or landlord offer, to help customise their marketing, and direct traffic from the advert to their own website. Further, agents can buy Promoted Property spots within search results to optimise their marketing push. Richard Shamsi (pictured),


For all the latest news visit us at www.the-negotiator.co.uk


AUCTIONS Bargain hunters fuel auction sales


House hunters’ determination to bag a bargain in the second and third quarters of 2011 helped UK auction houses raise £3.25bn for the year, 1 per cent up on 2010. The number of lots sold in Q2 and Q3 2011 increased by 17 per cent and 11 per cent respectively as prospective buyers returned to the market. Overall, 24,144 lots were sold in the 12 months to December 31 2011, which was almost 9 per cent up on 2010, according to data specialists Essential Information Group. Fewer vendors opted to sell


DPG’s chief operating officer, says, “Featured advertising has been severely diluted on many property portals by the sheer volume of available agents per area. “DPG’s version helps agents


own their area; ideal for winning new instructions and shifting stock fast.” All features can be managed


through members’ Insight accounts.


RESEARCH Agency fees top costs of moving


Agency fees have come under renewed pressure as a new banking report reveals that they remain the biggest cost of moving home. The Lloyds TSB


report, which looked at all costs associated with moving, claims that agency fees constitute 38 per cent of the total cost of the transaction, outweighing stamp duty, removal and surveyor and solicitor fees. The report claims that the total cost of moving has risen by 69 per cent in the last 10 years, which compares with the average house price increase of


64 per cent. However, it’s not all bad news for movers, with first-time buyers cited as the group to incur the lowest level of fees - on average 63 per cent less than their experienced counterparts. Agency fees are an ongoing topic of debate for


home movers, who face charges of anything between 0.5 per cent to 2 per cent-plus, typically in areas in prime central London. Lettings fees have come under particular scrutiny following the 2010 High Court case in which Foxtons was instructed to make its commission terms clearer.


at auction in London and the North West Home Counties, resulting in London auction houses raising just over £735m last year, an 18 per cent drop on the £897m recorded for 2010. Conversely, double digit increases in the number of lots sold were seen in Yorkshire and The Humber and the North West, though auction houses in the North East sold more of their lots on offer than any other region and therefore raised more, with funds up by over 20 per cent year-on-year. Across the UK, 73.8 per


cent of properties offered at auction last year were sold, which is a stark improvement on the 16-year low of 64.7 per cent in 2008. The long-term average is 75 per cent.


David Sandeman, MD, EIG www.the-negotiator.co.uk


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