Whether the pot is empty or just that global travel and fine dining are more attractive to parents, it seems that the ’bank of mum and dad’ is running dry, according to new research.

Home ownership remains the ultimate goal for ‘generation rent’, but aspirations to buy a home within the next five years have significantly dimmed compared to just a year ago as the ‘bank of mum and dad’ runs dry – according to the second annual Collyer Bristow Home Ownership Attitudes and Aspirations report for London and the South East.

Headline findings:

• 52% of non-home owners surveyed hope to purchase a home in the next five years, compared to 62% in 2018.
• 40% do not believe home ownership is a realistic goal in the next five years, compared to 29% in 2018.
• The ‘bank of mum and dad’ helped 45% to buy a home, up from 32% in 2018, but only 25% of those expecting to buy in the next five years believe mum and dad will be able to help.
• Just 8% have no aspiration at all to own their own home.
• Price (77%) trumps location (59%) when choosing a home.
• Digital connectivity (28%) is seen as more important than environmental considerations (25%) and curb appeal (14%). However, digital connectivity is more important to men than women.

The annual report is based on the hopes and aspirations of a panel of 564 people aged 18 to 44, in London and the South East living in rented and owned accommodation.

The report finds that men are more confident (62%) that they will own their own home within the next five years than women (47%), and men are more likely (51%) to receive help from their parents than women (30%). Just 8% have no aspiration to own their own home at all.

Home ownership aspirations appear to fade as individuals get older, with 65% of 18-24 year olds believing they will own their own home within the next five years, falling to 55% amongst 25-34 year olds and 43% with 35-44 year olds.

Alex O’Connor, a Real Estate Partner at Collyer Bristow said: “The past 12 months have seen house prices slow or stall and rents increase, so it is no real surprise that our dream of home ownership remains undiminished. But the uncertainty in the market, no doubt caused by our protracted exit from Europe and the General Election, is being felt.

“There has been a marked fall in the number of people who believe they will own their own home within the next five years – confidence in the housing market has yet to return.”

Downloand a full copy of the Collyer Bristow Home Ownership Attitudes and Aspirations.

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A January transfer window deal at Newcastle is set to enhance the match day experience for toon fans – off the pitch – as a rapidly expanding development and regeneration specialist – The High Street Group – has bought a controlling interest in the company that acquired Strawberry Place from the football club owner Mike Ashley, for £10 million.

The chairman of the Newcastle headquartered group says he wants to reach out to United fans to find out what kind of new facilities would improve match days at St. James’ Park.

Gary Forrest (pictured, below) – a former non-league player and current manager of West Auckland – says, “This significant investment in Newcastle is part of the High Street Group’s continued mission to build communities and regenerate city centres.

“Our vision is to create a true community hub with leisure and retail facilities, a magnificent new hotel, luxury apartments at affordable rents and high quality office space. It is a hugely exciting opportunity to radically improve our city, bring investment and help to create hundreds of new jobs,” he says.

“I know some fans are concerned about how it may affect possible future development of the ground but there are no firm proposals for this at present and there are other options.

“This innovative idea would offer the thousands of fans who flock to St James’ Park a much wider choice of quality restaurants and bars, which would provide the ideal setting for pre- and post-match revellers. However, it would also enhance the whole of the city for locals and visitors.

“We want to bring the whole of the city with us so, when the detailed plans are completed, we will listen to the views of local businesses, residents and football fans.  Their comments will inform our progress.”

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ARLA Propertymark has published shocking research into the Airbnb dominated short-lets sector that reveals 46,000 rental properties have already been lost from the traditional long-term sector, a figure that could eventually rise to almost 500,000.

The trade association has also launched an eight-point plan (see link below) to create a level playing field between the traditional and Airbnb-dominated short-lets sectors.
ARLA’s report reveals that although only 2.7% of landlords have transferred their properties to Airbnb and other short-lets platforms so far, the data points to a rapidly accelerating trend.

Completed in partnership with research consultancy Capital Economics, it predicts that, eventually, between 230,000 and 470,000 properties could transfer from long to short-term in the coming.

The number of active listings on Airbnb in the UK increased by a third to 223,000 in 2018 from 168,000 in 2017.

Among landlords who have already moved over, two-fifths said they had switched to short-lets to avoid burdensome regulation of the traditional private rented market.

London has the largest market in the UK, with the number of active listings rising four-fold from 18,000 in 2015 to 77,000 last year.

“As landlords are continuously faced with increased levels of legislation, it’s no surprise they are considering short-term lets as a chance to escape this,” says David Cox, Chief Executive of ARLA Propertymark (left).

“Unless the sector is made more attractive, landlords will continue to exit the market resulting in less available properties and increased rent costs.”

Download ARLA’s eight-point plan.

Industry reaction

David Alexander, boss of lettings platform apropos by DJ Alexander

“It is clear that Airbnb and other holiday lettings outlets are attracting a lot of negative publicity due to their enormous expansion over a relatively short period.

“They undoubtedly provide a service but the light touch regulation which they have enjoyed to date is unfair to existing landlords and property providers.”

David Smith, Policy Director for the Residential Landlords Association

“Today’s report highlights how inconsistent the Government’s approach to the rental market now is.

“On the one hand the Ministry of Housing wants to encourage more landlords to offer properties to tenants on a long-term basis.

“On the other hand the Treasury has a tax system which makes renting out holiday homes more appealing at a time when demand for homes to rent is outstripping supply.”

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A lettings agency in London has been fined twice in the same week for serious offences discovered at two separate properties in what is believed to be a first within the private rented sector.

East London firm Century 21 Cameron Adams must now pay fines totalling £44,00 for breaches at the two addresses, which have been dealt with in two separate actions brought by the London Borough of Waltham Forest.

Three days ago the agency was fined £16,000 after failing to close an illegal gambling and drinking den at a house in Belmont Close in Leyton owned by landlord Hasan Younis, a director of Cameron Adams Ltd, which trades under the Century 21 brand.

The fine came after Younis was warned by council officers following complaints by neighbours of anti-social behaviour at the house, which when raided was found to contain 75,000 cigarettes and 800 packs of playing cards and a large amount of alcohol.

Seven charges

But yesterday the council also revealed that Yanis’ agency had also pleaded guilty to seven charges relating to the management of another property including failing to hold a mandatory HMO licence.

Century 21 Cameron Adams was fined £25,000 by Thames Magistrates Court and must also pay costs of £3,000.

Council enforcement officers who visited the property found potentially life-endangering issues.

These included no working smoke detectors, serious drainage problems (pictured, above), inadequate heating, and dangerously haphazard entrance steps. Six people were living in the unlicensed property when the visit took place.

“I’m glad that Cameron Adams Ltd admitted their guilt and did not even try to defend the atrocious condition of this property,” says Cllr Louise Mitchell, Cabinet Member for Housing and Homelessness Prevention (left).

The lettings agency manages 100 properties in the area and the council is not reviewing the property licences at all addresses where the firm is named as the licence holder or manager.

Read more about letting agencies fined.

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L to R: Croft Residential’s Charlie Elliot, Sarah Weston And Toby Cockcroft

Croft Residential, a York-based estate agency that specialises in selling luxury properties across Yorkshire and the north of England, has launched a new division focused on the York city centre market.

Some of York’s most exclusive properties, including £1m apartments at the Bonding Warehouse and Marlborough Wharf, have been sold by Croft Residential and founder Toby Cockcroft aims to bring his team’s high end targeted approach to the mid range residential market in York.

“There is a gap in the York market for an intelligent, experienced and targeted approach to selling city centre properties,” said Toby.

“The Croft Residential team is known for outstanding service and as an independent business, in the city, we pride ourselves on our tremendous track record in finding the right buyer for a property and ensuring the sales process is smoothly completed.”

Charlie Elliot, who heads the new division, said, “The launch of Croft City brings our renowned professionalism and attention to detail to the mid-range city property market and will focus on city centre properties. We are very much looking forward to reaching out to a new market of prospective property sellers in York and demonstrating how our expertise and personal approach is what makes us different to other agencies.”

Founded 2010, Croft Residential currently has a £75m portfolio of properties across the north of England, from new-builds to country estates. This summer the agency was appointed to sell the Boston Spa home of cricket legend Sir Geoffrey Boycott.

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Northwood franchisees have completed four more acquisitions, taking the total this year to eight, with more in the pipeline. Northwood, part of the Belvoir Group, has a dedicated Acquisition Team helping to deliver the network’s highly successful Assisted Acquisition Programme.

“I am delighted to confirm that Northwood has acquired eight businesses this year with two more in progress,” says Northwood MD Phil Gee.

“The latest acquisitions include the completion of King Woolley by Sam Linn of Northwood Banbury & Chipping Norton. They will continue to operate under the King Woolley brand.

“We have also had the acquisition of Milton Ward by Davinia Taylor of Northwood Milton Keynes. Davinia is a very driven professional and an excellent business operator, who was previously a small shareholder in the business.

Earlier this year she acquired 100% shares and has been extremely keen to do an acquisition.

“Earlier in the summer Phil Sergeant and his daughter Kate Gwinnutt of Northwood Cardiff completed on the acquisition of Morgans Cardiff.

The post Northwood completes on latest acquisition appeared first on The Negotiator.

Zoopla has launched a valuations-based leads generator for estate agency websites designed to compete with rivals such as ValPal, Homeflow and MyVal in an attempt fend off growing competition from proptech platforms like these for estate agent marketing spend.

Like ValPal, which is used by over 4,000 branches across the UK, the portal’s new Zoopla Valuation Tool or ZVT is a white-label product that is used to generate market appraisal leads via an agent’s own website, with house price information provided by Hometrack.

Hometrack recent updated its valuations algorithm which, for some home owners, has significantly lowered their Zoopla valuation figure and has led to complaints on several reviews websites and social media.

Valuation range

The ZVT differs from its competitors in one key way – it offers those enquiring a range of potential prices instead of an exact figure.

This, the portal claims, will prompt engagement with agents about their opinion on its value without compromising discussions by indicating an exact figure.

The product is relatively straightforward and offers vendors an estimated value for their home based on the same widget it provides consumers on its website, in return for their contact details which are then emailed to the agent.

Andy Marshall (left), Zoopla’s Chief Commercial Officer, said: “We’re excited to launch the new Zoopla Valuation Tool.

“By empowering agents to provide this service on their websites they can champion their online branding and local market expertise, whilst generating all-important valuation leads.

“Our Zoopla Valuation Tool is designed to introduce an agent to a potential seller or landlord and translate their initial interest into high-quality leads.”

Read our review of the valuations-based leads generation market.

The post Zoopla launches competitor into the agent appraisal leads market appeared first on The Negotiator.

This year ‘Rumble with the Agents’, the hugely popular annual white-collar charity boxing event hosted by Landlord Action and sponsored by Hamilton Fraser, is fundraising for Inclusion Barnet, a charity which provides vital support for people with disabilities.

Paul Shamplina set up the event six years ago and runs it with his wife Rita, now he’s looking for ten individuals from the property sector to try their hand at boxing.

You need to sign up by 7^th February to join this free, fully structured and supervised boxing training program to ensure optimum physical fitness and teach participants the correct techniques will be provided by JA Boxing in north London.

Participants are not required to have any previous experience, just a desire to learn a new skill, get fit in three months and support an excellent local charity.

THE CHARITY

Inclusion Barnet is a Deaf and Disabled People’s Organisation (DDPO), which means that their staff and trustees have lived experience of disability, including mental health issues and long-term conditions. They use their lived experience to raise awareness and educate society about the barriers faced by disabled people and how people can work together to remove those barriers. Those living with disability often find it very hard to access to the services and resources they need to help them live the life they want to live, which is where Inclusion Barnet provides vital support.

PAUL SHAMPLINA SAYS

“I’ve been a keen boxer for many years. Boxing not only helps me keep fit, it’s a stress reliever, motivator, confidence builder and has taught me discipline. I know an increasing number of boxing clubs are doing an outstanding job to ensure that the experiences they offer are fully inclusive, and that is why we feel that this year’s charity is a perfect fit for Rumble with the Agents 2020.”

As before, the evening will consist of five fights, which will be three two-minute rounds each, a sit down three-course meal, charity auction and raffle.

The event, which so far has raised a total of £93,000 for various charities, is open to agents, property professionals, suppliers and landlords and will take place on Thursday 21st May 2020, at Holiday Inn, Avenue Banqueting, 58 Regents Park Road, London, N3 3JN.

To find out more, volunteer to take part, buy tickets or donate something for the raffle/ auction please email Rita Shamplina on info@rumblewiththeagents.co.uk or call 07790 569501.

Tickets to attend ‘Rumble with the Agents’ are now on sale (www.rumblewiththeagents.co.uk).

The post ‘Rumble with the Agents’ needs knockout property agent boxers! appeared first on The Negotiator.

The brain drain from Knight Frank to growing property management platform Rentify continues.

The platform, which in October poached Knight Frank high flier Lucy Jones, was established in 2011 and has so far received some £8 million in funding. But three more Knight Frank seniors have now also joined the lettings agency.

The first is Giles Barrett, a former Partner at Knight Frank, who has joined Rentify after a spell heading up Knight Frank’s South Kensington office.

Second is Mathew Hahn who headed up Knight Frank’s Richmond branch, although he has also worked for Savills, Hamptons International and Foxtons in the past.

The pair have been tasked with growing the platform’s list of multi-property landlords and build-to-rent developers.
The last to arrive is up-and-coming property management star Andrew Osborne who has been recruited form Knight Frank to help manage the portfolios of larger landlords.

The trio’s decision to join the proptech firm is a sign that, even in the crisp corporate corridors of Knight Frank, ‘disruptor’ tech start-ups are beginning to get noticed and admired.

Rentify founder George Spencer (below) caused quite a stir a while back when he claimed that the ‘model that letting and estate agents have is the opposite of what a landlord wants’.

“These latest appointments bring a wealth of high street agency experience to Rentify and complement the existing team of professionals, many of whom have left high profile senior roles within the industry, excited by the opportunity of disrupting an outdated rental model and driven by the idea that we can create a more compelling offering for landlords and tenants alike,” says Spencer.

“Our unique combination of a technologically advanced management platform together with the ‘human’ element of genuine on-the-ground experience and knowledge of the rental market, means we are well positioned to deliver on this ambition.”

Rentify currently has 33 properties listed on Rightmove to rent.

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The UK head office of US franchised estate agency network Century 21 has taken the unusual decision to cancel the franchise with immediate effect of its East London representative.

As The Negotiator reported on Friday, Stratford-based Century 21 Cameron Williams has been fined a total of £44,000 by two separate courts for breaking multiple local regulations applied to the private rental market.

This included a fine of £16,000 and costs of £3,000 for failing to close down an illegal gambling and drinking den being operated from a rented property in Leyton, and a separate £25,000 fine for a poorly-managed HMO property that council officers found to be lacking working smoke detectors and with sewage swilling around the garden.

Serious offences

“Century 21 UK has been made aware that the Cameron Adams franchisee has been fined in relation to serious property management offences,” a Century 21 spokesperson told The Negotiator.co.uk.

“As the UK franchisor of the global Century 21 brand, the business takes a zero tolerance approach to franchisees that fail to comply with the law or fail to uphold the high standards of service that customers expect from Century 21.

“Century 21 UK has therefore terminated the Franchise Agreement for Cameron Adams with immediate effect.”

The company behind the franchise was incorporated in September 2010 and  in 2012 it faced being struck off the Companies House register but this was later revoked.
It has been trading continuously since then and published its latest accounts for 2019 on December 23^rd.
It has two directors including Hasan Younis, who owns the property in Leyton where the gambling den was located.

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Peterborough has become the latest area to migrate its local land charge (LLC) search service from paper documents to a digital Register since the national scheme began 20 months or so ago.

Its city council is the eighth large local authority to make the move to online, a service that is expected to significantly speed up the conveyancing process.

This latest news is part of a rolling HM Land Registry programme to digitise the LLC process for both professionals and the public and follows similar roll-outs in Lambeth, Warwick, Liverpool, City of London, Blackpool and the Isles of Scilly.

“Users are charged either £15 for an official search or can conduct a personal search for free. Search results provide information about any charges against a property such as outstanding planning permissions or listed building status.”

It is expected to take several years to complete the project, largely because tens of thousands of documents have to be scanned and digitised at each council.

Karina Singh (left), Director of Transformation at HM Land Registry, says: “Migrating Peterborough to our national LLC Register is a significant milestone for us as it’s the largest number of paper records that we’ve digitised so far.

“This will make life easier for property buyers across the area, providing round the clock online access to the information they need.”

Michelle Abbott, senior lawyer for Peterborough City Council, adds:“Speeding up the property-buying process benefits ourselves, our residents and our businesses.”

Read more about the Land Registry’s LLC program.

The post Peterborough is eighth council to move Local Land Charge enquiries online appeared first on The Negotiator.

An historic estate agency which has been trading since 1785 has closed in Bath without any prior notice.

Pritchards Estate Agents has specialised in prime property in and around Bath and is based on Quiet Street in the city centre. It is run by managing director Michael Hughes, who has headed-up the company since at least the early noughties.

Despite being the oldest independent estate agency in Bath, its single branch has now shut up shop and the company’s sales telephone line rings straight to an answering machine which reveals the agency has ceased trading, while its lettings line goes unanswered.

As well as Hughes, four further members of staff are believed to be affected by the business’s demise including an office manager, two administrators and a senior negotiator.

Recent accounts

The company behind the agency, Pritchard & Partners Ltd, appears to have been trading normally until now and published its most recent accounts in November.

Records show the company owns its high street premises without a mortgage.

Pritchards’ website is still live, saying that: “We are the premier choice for those seeking to buy, sell, let or rent property in the city.

“With an unrivalled wealth of experience to draw upon, we know exactly what is required to achieve the very best results for our clients, providing professional advice and guidance every step of the way.”

Its four existing available rental properties are still marketed via OnTheMarket but there are no sales properties available either on its own website or via the portal.

The post 225-year-old estate agency shuts up shop without warning appeared first on The Negotiator.

A likely ban on estate agency referral fees has taken a step further after it was revealed yesterday that a report is to be submitted this month to Ministers about the practice.

James Munro, Head of the National Trading Standards Estate Agency and Lettings Team (NTSEALT), told a session at yesterday’s Council for Licenced Conveyancers annual conference that his colleagues had concluded their investigation into how transparent agents are being about their referral fees with customers.

This report will then be considered by Ministers and, Munro said, a decision will then be taken by them whether to regulate further.

In May last year The Property Ombudsman (TPO) updated its Codes of Practice on referral fees after consulting with 44 different organisations about them to help ‘agents understand their responsibilities and reduce the potential for consumer detriment to occur’.

Greater transparency

As The Negotiator reported, the changes included requiring agents to be more transparent about referral fees but also sales fees in order to prevent the likelihood of ‘dual fees’ being charged. Agents were also urged to better explain how tenancy deposit products and other insurance-based products work.

Two months before the TPO update, NTSEALT warned agents to put their house in order and be more honest with clients about referral fees or face a potential ban and prosecutions, and that they were in the ‘last chance saloon’ on the matter.

“The disclosure must be made in a way which is clear, intelligible and unambiguous and have no lesser prominence in documentation than other important terms, conditions, or information,” NTSEALT’s briefing document said at the time.

The post Trading Standards says its report on estate agency referral fees is ‘imminent’ appeared first on The Negotiator.

A Scottish letting agent says it is growing on the back of increasing pressure on landlords within the country’s rental market as many become afraid of the rising mountain of legislation facing the sector and turn to more reputable agents.

Edinburgh-based upmarket agency Clan Gordon says it now manages over 500 properties in and around the Scots capital, the first time it has ever done so after adding 152 properties last year to its portfolio.

The company’s claims highlight one potential future for the English and Welsh private rental property sectors as they face up to increasing regulation and their housing market dynamics change.

Rental market

Scotland is ahead of its UK counterparts, being the first to introduce a tenant fees ban, limited rent controls, a Letting Agent Code of Practice, proposed controls on Airbnb, compulsory landlord registration and recent proposals to widen the scope of HMO regulation.

Scotland is also ahead of England and last year published a revised model tenancy agreement, something the English government has yet to get to grips with.

Faced by this onslaught, Clan Gordon says this is forcing more and more landlords to both seek experienced agents or, it has seen, exit the market by selling up of through bankruptcy.

“It’s nothing less than a pivotal time for the sector – and with the approach Clan Gordon has taken, we can only see our market share continue to expand,” its co-founder Jonathan Gordon told The Scotsman newspaper.

“While some landlords and agents may look to maximise short-term gain, a healthy relationship with the tenants, which we strive for at Clan Gordon, can produce a far better outcome for all parties.”

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A ‘world first’ new property portal that has ambitions to rival Rightmove launched in ‘beta’ mode yesterday and is now being tried out by several ‘pioneer’ agents.

OpenBrix utilises blockchain to create a linked network of agents to upload listings and run it via a more democratic system by enabling agents to vote on key business decisions and take control of their own customer leads.

By creating a de-centralised network there is no single owner who controls the money, data or rules of the portal, the company behind the property portal claims.

“We think it’s time for an improvement to the way that agents and portals work together,” says Adam Pigott, CEO of OpenBrix.

“The relationship should be mutually beneficial, a two way street not just a one sided endeavour – and you’ll start to see that come to life as we progress”.

“We’ve been talking to a number of agents that are very enthusiastic about our proposition and they have asked to be the first to test the OpenBrix platform and we’re really excited that we’ve reached this stage so quickly and with such support from agents. Additional interest is welcomed.”

Crypto reputation

OpenBrix nevertheless has some obstacles to overcome, not least investor and industry worries over blockchain’s difficult back-story.

“At the moment the race is on to use blockchain as a supposedly secure ledger system to store data that no one can get into but everyone can see, but cannot be tampered with,” says proptech consultant Andrew Stanton.

“Unfortunately blockchain as a concept is tarnished because lots of crypto scams used it, or rather said it was blockchain when investors just paid money in.”

OpenBrix has also announced its team which, as developer and tech investor Piggott, includes blockchain guru Shahad Choudhury, and lettings and new homes player Andrew Taylor.

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It’s the issue that everyone wishes would just go away, but in a study by iamproperty almost a third of estate agencies are unsure whether their company meets current HMRC requirements for AML purposes.

Since 2017, estate agents have been subject to stringent AML regulations, including due diligence and further checks on vendors and buyers – for every property sale. Failure to do so can see agents fined and even imprisoned.

Findings from iamproperty’s research include:

• 46% of estate agents believe that AML regulations are equally understood and implemented by agencies across the country
• Half of the respondents thought AML regulations were ‘somewhat clear’ and 11% were ‘unclear’
• 40% did not take in (required) annual AML training
• 65% were unconcerned about a visit from HMRC
• 25% knew of a firm that faced an HMRC fine, yet 40% of those admitted to no changes being brought in or new policies adopted.

Ben Ridgway, Group MD at iamproperty (left) says: “This research has given us a revealing new insight into the understanding of and adherence to the increasing regulatory burden facing estate agents.

“Under the current regulatory environment, it’s never been more important for estate agents to undertake a thorough examination of each and every sale, using whatever tools they can to reduce the impact on their business.”

• 38% of respondents believed that the 10% drop in reports to the National Crime Agency was due to a difficult selling market and a heightened fear of losing sales.
• 20% suggested it could also be down to estate agents having little time to report activity they perceive as suspicious.

Ridgway adds: “Almost a third of estate agents were still managing their compliance manually and relying on their instinct to flag concerns with an aspect of a sale.

“Yet, they are faced with an increasingly challenging selling market. We are excited to launch our new compliance platform, iamproperty compliance, designed to take the hard work out of managing AML compliance. Estate agents cannot simply rely on their senses when sniffing out suspicious activity.”

Iamproperty will be on Blackfriars Lane, Southwark, London, on 11^th February 2020, encouraging estate agents and passers-by to see if they can smell the difference between clean and laundered money.

The government rushed through legislation in early January to comply with the latest AML directive from Europe.

The post Shocking levels of non-compliance with AML rules highlighted by report appeared first on The Negotiator.

Online estate agents have once more failed to substantially increase their share of the housing market, latest figures from house selling consultancy The Advisory reveal.

Its analysis of Rightmove listings data for the final two weeks of January show that online and hybrid estate agents listed 4.8% of the 90,933 properties uploaded to the portal, up marginally from 4.58% a year ago.

Purplebricks continues to dominate, listing 3.12% of the entire market or some 65% of the online and hybrid sector’s output.

Despite this, investors appear to be tiring of the company’s inability to increase its overall market share. Its share price rallied to £1.30p following the General Election but has since slumped back down to its pre-election price of £1.07p.

Online agent

Gavin Brazg, founder of The Advisory, claims his figures show the online estate agent sector’s market share has stood still compared to a year ago and that Purplebricks CEO, who last month restated his belief to investors that Purplebricks can achieve a 10% market share, has a very big hill to climb.

The Advisory’s figures show that almost all online and hybrid estate agency’s saw their listings stand still year-on-year include Yopa and Purplebricks while HouseSimple, which has been heavily promoting its ‘free to list’ proposition in Nottingham, saw its listings three by nearly 100 properties year-on-year.

The report also reveals that the huge increases in activity reported by many agents including Knight Frank yesterday within its prime central London market analysis are failing to work through into the wider market.

The number of properties for sale on Rightmove is currently down 9,000 on the same two-week period in 2019 to 90,933 properties.

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A complaint against online agent Housesimple that its ‘sell your home free’ advertising claims are misleading has been rejected by the Advertising Standards Authority (ASA).

The complaint was made by Leeds-based estate agency Manning Stainton, which claimed small-print clauses within Housesimple’s T&Cs for its free service meant the claims could be misleading.

These T&Cs include Housesimple being able to charge to market a property if it doesn’t sell after six months and also charge for an additional For Sale board or when photographing large or multi-unit properties.

It can also charge for travel costs to reach more remote properties.

Manning Stainton also said that Housesimple’s advertising didn’t make it clear that the service is restricted to certain geographical areas.

At the moment these include the NW of England, Yorkshire and Nottingham.

But these points have now been dismissed by the ASA after Housesimple pointed out that although its free service does come with terms and conditions attached, the agency said it had never charged for extending a vendor’s marketing period, for an extra board or any of the other services highlighted in the complaint, and nor did it intend to.

HouseSimple said it has never claimed that its free service is national, and the company’s homepage includes a search facility for potential vendors to check if their home is eligible.

“It may be hard to believe, but we really do sell houses for free,” says Sam Mitchell, CEO of Housesimple (left).

“We are completely upfront with customers and the ASA ruling confirms this. More and more, people are embracing a new way to sell their properties for free rather than being charged excessive fees, or even worse, upfront fees before they’ve even sold.

“At Housesimple we are on a mission to turn the industry on its head, by making buying and selling simple, transparent and free.”

Read more about Manning Stainton.

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Is the UK property market experiencing a ‘Boris bounce’ or not? It’s a debate that has been raging on social media for several weeks but Rightmove has broken ranks emphatically to highlight booming demand from buyers and renters.

The portal says the number of sales being agreed by agents increased by 12% during January year-on-year, the largest surge in activity it has recorded since July 2017.

But this was an average across the UK – the number of homes reaching ‘sale agreed’ increased by 26% in London, 20% in East Anglia and 19% in the South East.

The portal says its website also experienced the busiest January ever with 152 million visits during the opening four weeks of the year, a 7% increase on January 2019.

Busiest day ever

Much of the additional activity on the portal took place during the final week of January and Wednesday 29^th was the busiest during which 5.7 million visits were made to the Rightmove website, 9% more than the previous all-time busiest day in April last year.

Rightmove says this surge in activity has been created largely by house hunters looking to buy a home as the public mood of uncertainty lifted following the General Election and the New Year.

The portal’s Housing Market Analyst Miles Shipside (left) says a large number of agents have told him that sales and valuations have picked up in their local area as home-movers have sprung into action.

“There’s still an imbalance, with demand growing at a faster rate than new supply and no clear sign yet of any uplift in new listings compared to this time last year, but we could see a new wave of sellers in the coming weeks,” he says.

Read more: Will 2020 be a ‘bounce’ year. 

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Foxtons has made its first move into online auctions following a partnership revealed last night with platform BidX1 that will see its first digital sale held on 25th February.

The estate agency is hoping to sell 18 houses and flats across London and the Home Counties and the initial auction will take place a week after BidX1’s main monthly event on 18^th February and be dedicated to the agency’s own properties.

BidX1 was established in Ireland but has UK headquarters in Mayfair. It was the brainchild of a former Allsop auctions partner Stephen McCarthy (left), who in 2008 was invited by several Irish banks to help sell distressed stock following the financial crisis and the collapse of the ‘Celtic Tiger’ economy.

BidX1 have released a statement to The Negotiator saying: “Our platform is revolutionising property trading and we’re delighted to be collaborating with Foxtons, who have always been early adopters of technology.

“The process is the same as for all our online auctions: legal documents available for inspection on the platform, online registration, and transparent online bidding on the day, with all bids logged and displayed in real-time.

BidX1 claims that there are clear synergies in a collaboration which brings together Foxtons, London’s leading estate agent, and BidX1, market-leaders in the digitisation of property transactions. “We’re very excited to be working with them, a BidX1 spokeswoman said.

“There are over €100m worth of investment properties across five markets available on the BidX1 digital marketplace this month, in cities like Madrid, Johannesburg, Dublin and Nicosia, as well as London.”

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