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Property Marketing Blog

The second half of 2014 is seeing a switch from a seller’s to a buyer’s market in the UK as a healthy supply returns, according to the latest market report.

Overall the number of new homes coming to the market has increased 7.3% annually across the UK while the volume of new buyers coming to market is down 2.8%, says the report from independent agents haart.

It also shows that there are 9.5 buyers chase every property for sale across the UK, down from 14.4 in January 2014.

National property prices remain robust, increasing 8.1% annually to £204,216, the highest average price over the last two years. Prices were up 0.1% in July compared with June.

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2014 is shaping up to be a potential game changer for estate agency marketing and potentially for estate agency itself. The catalyst for change is a company that currently doesn’t even operate and yet, is threatening to polarise the business by trying to break the stranglehold of the duopoly that is Rightmove and Zoopla Property Group. The intention is to weaken their proposition and pricing power, but could this bold plan backfire and have dire unintended consequences for estate agents themselves?

This company is of course Agents’ Mutual, an aspiring co-operative of estate agents backed by some of the biggest names in the industry that wants to set itself up as a portal in its own right. Agents’ Mutual’s strategy is to polarise the industry and break the Rightmove/ZPG duopoly by imposing upon its members a simple choice, advertise on only one other portal and drop the rest. In practice, what this means is that members of Agents’Mutual will advertise on Rightmove or ZPG (Zoopla, Primelocation and other sites form the ZPG package), but not both.

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Outlook of a positive 2014 in the property market – with a note of caution

After five tough years for estate agents, 2013 finally saw the property market spark into life.

The Help to Buy mortgage guarantee scheme certainly generated much-needed activity among first-time buyers.

This in turn has prompted movement further up the ladder.

As a result, prices have, on average, increased – although the word average is important to put into context.

In short London continues to drive growth in the property sector, although the overall picture is more complicated than that. On a percentage basis, price rises are generally far stronger in the capital than anywhere else in the country.

These price rises are further skewed when high-end properties in the capital are taken into account as prime and super prime property remain in their own isolated growth bubble.

When all these are combined they provide a distorted picture of the real state of UK house price growth and market activity.

Yes prices are indeed rising and this is a relief after so many years of inertia – but generalised percentages do not tell the full story.

London’s growth is impressive in the main but it is not the same story across the rest of the UK where price and sales increases are less marked – Manchester excepted, where there has been a large increase in the last 12 months.

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source ––with-a-note-of-caution

Estate agents are warned that many more law firms than was previously thought are in deep trouble, including those specialising in conveyancing.

This could seriously affect some completions, and indeed is already doing so in the case of clients of at least two firms, Reeve Fisher & Sands, and Hempsted Property & Probate Lawyers, which have ceased trading within the last few days.

The Council for Licensed Conveyancers intervened in the first firm, which has three offices in Essex, on Tuesday. We know of one buyer currently unable to complete because the funds were lodged with the firm, but judging by concerns voiced on Twitter, there could be more.

The CLC intervened in Hempsted Property & Probate Lawyers, of Newmarket, Suffolk, on Monday.

In both cases, the CLC says it is “working to ensure that outstanding conveyancing transactions can proceed with minimal inconvenience”.

The reasons for the two interventions – effectively, where a body acts to close down a firm – are not known.

Separately, the Solicitors Regulation Authority has discovered what it says is a “substantial” number of firms that have failed to declare their insurance position, in addition to the 141 that have officially notified the body that they will need to be wound up by the end of this year. It has not named any of the firms that are in trouble, despite calls to do so.

RIP Nelson Mandela

South Africa’s first black president, revered around the world as an icon of peace, freedom and reconciliation, dies aged 95.

Crowds paid tribute, dancing and singing in front of Mr Mandela’s former home in Soweto throughout the night.

This stunning property was taken by one of our superstar photographers Donna. Great angle and composition which truly captures this property, full of character, at its best light in wintertime..

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