In life there are always ‘tipping points’. For instance, as we ‘enjoy’ the current spell of hot weather, I’m sure there are many out there wishing for a ‘tipping point’ that brings with it a cooler outlook.
In the property market we have been waiting a long time to see a ‘tipping point’ whereby we can finally put the dark days of the credit crunch and subsequent recession behind us, and I suspect that the recent increase in positivity within the housing market is a sign that those days have come.
The latest data from the RICS certainly cements that positive feeling with reports of increases in house prices and a noticeable upturn in the number of enquiries received from buyers.
Indeed, this ‘glass half full’ mentality translates into a net balance of 45% of all those surveyed believing a rise in property transaction levels over the course of the next three months will happen. This might not seem that remarkable, but it is when one considers this is the most positive number returned since RICS began running this analysis 14 years ago.
Just as a perfect storm of economic hurricanes engulfed our market half a decade ago, we can now see a number of measures coming together to deliver a much rosier picture for the estate agent market than we have experienced in some time.
Initiatives such as the Funding for Lending scheme have increased mortgage availability for those looking to purchase, whilst we have a number of schemes, the latest of which is Help to Buy, that are also helping the market get moving again.
We should remember that these schemes are not just important for the first-time buyer but also help chains develop and reach their natural conclusion, with many more purchasers making it through to completion.
Whilst no one is suggesting that we are ‘back to normal’, we are certainly making the steps towards this and it is our belief that agents are in a heartening position to take advantage of this upturn. One can be certain that the big brands in our sector will be redoubling their efforts and focus in order to take advantage and achieve their ambitions.
The benefits for the smaller agent operator is their flexibility and the ability to move quicker than the super tankers; however, it is important in the marketplace to fight fire with fire.
We’re all too well aware that many agents want to be in charge of their own destiny whilst at the same time have the backing of a major operator and brand which can fuel their ambition and take them to the next level.
This is why we bought the Century 21 UK brand and have set about engaging with existing agents, and those looking to enter the sector, in order to help facilitate their development in this growing marketplace.
You can be certain that competition is likely to increase in your locale, and having the brand and overall support of a Century 21 could make all the difference when it comes to making the most of this perceived upturn.
* Rob Clifford is chief executive of Century 21 UK and group commercial director of Shepherd Direct Group
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Comments
Stuart White their managing director is a total scum bag. As the previous guy said stay away.
Century 21 in the UK is a big rip off. I have dealt with a couple of their agents and they have the lowest quality photos, descriptions and worst attitude. What do you expect from a franchise that doesn't even have a proper website to advertise the properties. STAY AWAY vendors and franchisees!!!