Investment bank RBC Capital has downgraded its rating of Rightmove and is warning that the property market is entering a prolonged downturn with agency closures on the horizon. The bank has cut Rightmove’s share price target from 550p to 440p. In an advice note to investors it warns: “The likelihood of… Read More »Rightmove downgraded as bank warns of agency closures accelerating
Agency using ‘Covid Clauses’ to keep transactions on course
An estate agency says it’s using so-called Covid Clauses in contracts to keep transactions on course.
Estate agents’ offices will be in the first category of High Street premises to reopen when the lockdown finally ends, newspapers claim this morning. Although there is a widespread expectation that the lockdown will be extended for another three weeks, agents’ offices – along with coffee shops and restaurants – are today… Read More »Good News: Estate agents’ offices will be first to reopen says newspaper
Agents Jobs At Risk: furlough scheme must be longer says industry chief A high number of agents across the country have been furloughed in recent weeks and are now at risk of losing their jobs if the scheme is not extended beyond the end of May. That’s the… Read More »Agents Jobs At Risk: furlough scheme must be longer says industry chief
Searches: councils slammed as dangerous over face-to-face visits A trade body has reported some council search departments to the government for refusing to provide email details and forcing search agents to have face-to-face meetings. The number of transactions has of course fallen markedly but the Council of Property… Read More »Searches: councils slammed as dangerous over face-to-face visits
The controversial Help To Buy scheme looks likely to be expanded in breadth and extended in duration to help kick-start the housebuilding industry after the lockdown. Currently the scheme helps buyers of new build homes with an equity loan worth 20 per cent of the value of a property;… Read More »Love it or loathe it? Help To Buy to be beefed up after lockdown
The mortality rate from Coronavirus, or as they like to say, using the statutory play on words, “Died after being tested positive for Coronavirus” remains at 0.2% for the under 40s and just 0.4% for under 50s, so why is the vast majority of the working population locked up??? Why… Read More »Coronavirus – Are we witnessing genocide?
Two agents have quit Rightmove and taken to social media to give their reasons.
On April 4, EAT published a piece titled: ‘It’s 2024: what will the industry look like, post corona-virus’. To me, this was a completely irrelevant article and there was simply no point in reading it – although well over 3,500 of you have done so.
There is no doubt that the current crisis, is one of the greatest tests our economy has faced in decades. There are without doubt, many small to medium sized businesses that will suffer greatly, despite the drastic steps taken by the chancellor to lessen the blow. Personally, I feel that rents, rates & interest should have been suspended during this period, to minimise the damage of this terrible situation.
