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Rightmove loses agents as latest figures show huge rise in fees and profits

Rightmove has released another stonking set of results – but there are signs that some agents are defecting from the ever-more-expensive portal. Figures released to shareholders this morning relating to the full year of 2019 show revenue, underlying profit and operating profit all up eight per cent – and earnings per share up no less […]

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Social Media: Agent sells home off-market via Instagram teaser images

An estate agent has sold a home off-market by posting teaser photographs on Instagram. The buyer – who was in the French Alps on holiday when she saw the social media posts for the property in the Warwickshire village of Lapworth – was attracted by a series of teaser photographs. These were not of the […]

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Agents asked to confess if their firm has been price-fixing

A new call has been issued this morning by the Competition and Markets Authority for estate agents to confess if their business has been involved in a price fixing cartel. In a statement released this morning the CMA says: “If you think your business has been involved in illegal activity, you should notify the CMA […]

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Rightmove charges blamed for helping some agents going bust

A free-to-list portal says the costs of listing on the established sites – especially Rightmove – are contributing to estate agencies going bust. “Property portals make money by charging to list on their site, regardless of a sale or let being made. Depending on the quality of listings, brand notoriety, area of operation, and a […]

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Death of buy to let has been greatly exaggerated, new figures show

Predictions that landlords are not buying properties to let out because of tougher rental taxes and regulations appear to be short of the mark according to new mortgage data. Statistics for December from UK Finance, the mortgage lenders’ trade body, suggest that there were 5,700 new buy to let home purchase mortgages completed in December […]

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Cash is king – but does it really mean lower sale prices?

A new study suggests cash buyers secure lower sale prices than mortgaged purchasers – but is that really the case? The survey by comparison site GetAgent looked at the average price paid by cash buyers over the last 12 months and compared it to buyers with mortgages. The data shows that across the UK the average paid by […]

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Young and minted: 50% of Mayfair residents aged 21 to 44

A high profile and widely-respected estate agent is predicting a huge demographic change to one of the country’s wealthiest enclaves – Mayfair. Peter Wetherell, whose agency Wetherell entered into a partnership with London chain Dexters at the end of last year, says Mayfair is about to see its largest demographic and property change of profile […]

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Homes bought after 14 days listing achieve best sale price – claim

A prominent consumer group says homes sold precisely 14 days after first being listed typically achieve the best price – closest to asking. Homes selling in this short period typically get 99.4 per cent of their asking price. Those that sell after one month achieve an a average of 98 per cent of their asking […]