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March 2020

Agency cartel scandal – watchdog wants agent directors disqualified

The Competitions and Markets Authority has started court proceedings seeking the disqualification of two estate agency directors over a price fixing scandal. The CMA has this afternoon announced that it has issued proceedings in the High Court of Justice, Business and Property Courts seeking the disqualification of: – Stephen Jones,… Read More »Agency cartel scandal – watchdog wants agent directors disqualified

Conquering Corona – portal offer, live events, mental health help

Hello and welcome to the latest edition of Conquering Corona, our daily update helping the industry cope with the current crisis. If you have appropriate advice to share with the industry, please email us on press@estateagenttoday.co.uk and we’ll let other agents and suppliers see it too. Firstly today there’s an offer by… Read More »Conquering Corona – portal offer, live events, mental health help

Auction success shows property sector can still thrive – claim

Two auctions held behind closed doors have been deemed a success, and evidence that the property market can still function despite the lockdown. Savills has held its first ever remote-bidding-only auction, run by a single auctioneer supported by almost 30 staff working remotely connected using technology. Over the course of… Read More »Auction success shows property sector can still thrive – claim

Big surge in distress sales even before virus – top agent

One of London’s most experienced estate agents says there has been a very significant surge in foreclosure sales in part of the capital’s housing market – even before the Coronavirus outbreak began. Marc Schneiderman is the director of Arlington Residential, an independent agency that offers sales and lettings at the… Read More »Big surge in distress sales even before virus – top agent

Coronavirus outbreak could cost the buy to let sector £14.9bn in three short months

The latest research by Deposit Replacement Scheme, Ome, has found that the impact of the Coronavirus could cost buy to let landlords nearly £14.9bn should tenants be unable to pay rent during the three month support period announced by the government yesterday. Last night the government announced that they would… Read More »Coronavirus outbreak could cost the buy to let sector £14.9bn in three short months

Housing market could be ‘frozen’ to avoid Coronavirus crash

It’s been reported that the government is talking with banks and building societies about putting the housing market ‘on ice’ during the virus crisis to avoid a crash and to allow financial institutions to offer mortgages. Today’s Financial Times says UK Finance – the trade body representing mortgage lenders – has told… Read More »Housing market could be ‘frozen’ to avoid Coronavirus crash

Rightmove “taking appropriate measures” to shore up company

Rightmove has this morning told its shareholders it is “taking appropriate measures” to shore up the company. It gives no indication of what those measures are but it says in a trading statement released at 7am today: “In this period of unprecedented uncertainty, we are unable to quantify the impact of… Read More »Rightmove “taking appropriate measures” to shore up company