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Here is today’s Breaking News from the estate agency world. Join the debate by leaving a comment below a story - you will need to be logged-in to do this.

Breaking News

Trouble ahead? House price falls set to spread, website warns

A sales platform that monitors the market is warning that house price falls are likely to spread beyond London and the south east this autumn. Home says...

PropTech Today: If agents are overvaluing, is it time to look elsewhere?

My eye was caught yesterday morning by news that PropTech company, Agent Software, is claiming that ‘some agencies deliberately over-value properties in a bid to win...

Stamp Duty - should downsizing pensioners be exempt?

There’s been another call for the government to reform stamp duty - and this time the request is that the duty should be abolished completely for...

London agency opens its second 'virtual' office

JLL has opened a new ‘virtual’ office with dedicated sales and lettings staff to serve the Westminster and St James’s areas - but operating from its...

Another agency teams up with online and in-room auction house

Another agency has teamed up with an auction company to allow it to offer vendors the choice of both in-room and online auctions, as well as...

Desperate agents deliberately overvaluing, claims PropTech company

A PropTech firm has adopted the unusual position of claiming some agencies deliberately over-value properties in a bid to win instructions. Agent Software says agents have done...

OnTheMarket sales rep wrote critical review of agency after cold call

An OnTheMarket sales rep - who now no longer works for the company - wrote a critical review of an independent estate agency which declined to sign...

Agent drove almost four-times over limit and kicked police officer

Local media in Huddersfield report that an estate agent smashed into a traffic bollard while four times over the drink-drive limit before kicking a policewoman when...

'Brexit smog' blamed for long-term slump in Foxtons' share price

The investment bank Jefferies says Foxtons’ long-running share price slump is a reflection of Brexit uncertainty “until we find out what Brexit actually means.” In a note...

Four-branch regional agency snaps up single-office firm

Oakwood Homes, a four-branch sales and lettings agency operating across East Kent, has acquired Parkland Estates, a single-branch firm based in Thanet. Oakwood was set up in...

Countrywide: could it really be snapped up by Foxtons or Connells?

Rumours abound over the future of Countrywide, which lost further share value on Friday, closing very slightly down on the day at 14.08p. It has now lost...

Boris Johnson wants "absurdly high" stamp duty to be cut

Boris Johnson is calling for a cut to Britain’s “absurdly high” stamp duty. Writing in this morning’s Daily Telegraph - the same newspaper in which he wrote his...

Property Jobs Today - your weekly round-up of industry moves

Welcome to this week’s Property Jobs Today - and as ever we have a breakdown of key moves within our industry. To contribute your news, please email...

Online agents have under 1% share in prime central London - LonRes

The chairman of LonRes says online estate agents have only a one per cent share of the market in prime central London. Writing in his company’s summer...

Property Redress Scheme adds 1,750 members after redress shake-out

The Property Redress Scheme says it’s recruited another 1,750 members following the shake-out last week when one of its rival redress services shut up shop. On August...

Stamp Duty is a mess: should it be scrapped or simplified?

Research by Estate Agent Today reveals that there have been 12 different stamp duty regimes in the UK since the Millennium. What’s more, the duty has changed...

Purplebricks' founders came up with the name around a kitchen table

It’s been revealed that the creators of Purplebricks came up with the name while brain-storming around a kitchen table - and without the help of consultants,...

Good news - mortgage arrears and repossessions continue to fall

There’s been another drop in mortgage arrears and possessions for owner occupiers - although an increase for some elements of the buy to let sector.  UK Finance...

Transactions slump 6% in prime London, says LonRes

LonRes says transactions in prime locations in London dropped another six per cent when the second quarter of 2018 is compared with the same period of...

Agents Do Charity... and oh dear, we're mentioning December already!

The heatwave is gone and summer is in its closing stages (sorry!) so it comes as no surprise that there’s already mention of December in one...

More trouble for Countrywide as bank slashes key 'target price'

The Swiss investment bank Credit Suisse has slashed its target share price for the company from 77p to only 17.2p.  The reason for the drastic reduction in...

Stamp Duty - first time buyer confusion 'shows need for a simple system'

A respected mortgage broker has found that there is widespread public uncertainty amongst the public about the effects of stamp duty on house sales - the...

Savills posts good UK residential performance but warns on Brexit

High-end agency and international property consultancy Savills has reported strong half-year figures for its UK business - but warns that Brexit makes it difficult to predict...

Big slump in new listings, with London down 12.7% in a month

New property listings in July were down 6.0 per cent across the UK and down no less than 12.7 per cent in London. According to data compiled...

Franchise agency beefs up back-office services for branches

Winkworth is beefing up its services for franchise owners with expanded support teams for its IT, Client Services and China departments.  Winkworth’s IT team has a newly...

Top economists still pessimistic about housing market fortunes

The EY ITEM Club, regarded as one of the most influential groups of economists in the UK, says it’s still “dubious” about the housing market improving...

Don’t blame Brexit! Agent reveals who's behind housing market woe

One of London’s leading estate agents says Brexit has had at worst a neutral effect on the housing market and may in fact have helped it...

OnTheMarket signs up 12-branch regional agency

OnTheMarket has signed up 12-office regional agency Robert Oulsnam and Company.  The firm, which handles sales and lettings, has 12 offices in the West Midlands, Worcestershire and...

Shock as average house price reaches its highest-ever level

In a surprise announcement, house prices picked up in July with the annual rate of growth rising from 1.8 per cent in the previous month to...

PropTech Today: The buzzwords of modern property

Hello again from Italy. Only another week or so left out here, working every day from the same table at my local cafe while the family...

Property raffle is subject of complaint to advertising watchdog

One of the spate of property raffle competitions has been the subject of a complaint to the Advertising Standards Authority. The complaint concerned the Win A Property...

Purplebricks says traditional agents sell only 50% of homes they market

Purplebricks co-founder Michael Bruce says traditional agents sell only around 50 per cent of the homes that they list, so spend half of their income from...

More properties withdrawn than sold in recent months, says Reapit

The number of properties withdrawn from the market in the second quarter of this year was greater than the number of completed sales according to Reapit. The...

GDPR Weekly: Anti-money laundering regulations and data protection

The General Data Protection Regulation (GDPR) - which replaces the Data Protection Act 1998 - has now become effective and is something which all businesses are...

Redress scheme admits some agents may have missed 'quit' deadline

The redress scheme which formally quit the housing sector admits some estate agencies may have missed its deadline - and are thus acting illegally by not being...

More mixed messages from London as agents report contrasting figures

The London market continues to produce unexpected results with two high end agencies reporting contrasting fortunes.  Half year figures released by Chestertons show the number of new...

Countrywide bosses blasted over ‘unequal’ rescue plan

Countrywide is under fire again over the controversial rescue plan it announced last week. On Friday the troubled agency group’s share price - which fell over 60 per...

Pundit Henry Pryor in scathing attack on house price indices

Outspoken property commentator and buying agent Henry Pryor has made a scathing attack on some of the main house price indices. In an article in the Daily...

Government reminds agents there are just two redress schemes now

The government has revised its guidance to agents over redress schemes - amending it to take account of the fact that from today Ombudsman Services: Property...

Property Jobs Today - plenty of industry moves over the summer break

We may be well into August but there’s little sign of a holiday for our industry, with a string of big moves to report here on...

By George! Osborne re-appears to defend his stamp duty reforms

The former Chancellor George Osborne - architect of drastic stamp duty reform - has come out fighting to defend the tax changes after years of keeping...

"What's bad for Foxtons is good for working Londoners" says business editor

The business editor of right wing political weekly The Spectator says “what’s bad for Foxtons is on the whole likely to be good for working Londoners.” The...

Countrywide is in the last-chance saloon say its own advisers

Small print in the Countrywide rescue plan announced yesterday spells out in stark terms what could happen if the company’s bid for up to £140m additional...

"No sell off!" - Countrywide's crown jewels are safe says new boss

The newly-appointed Group Managing Director of Countrywide says rumours of Hamptons International or other ‘crown jewels’ being put up for sale are categorically untrue. In an interview...

Stamp duty receipts plummet £317m over the past year

An analysis of HMRC stamp duty statistics for the second quarter of this year suggest that receipts are down 13.8 per cent, or £317m, from the...

It's not a big deal - agents try to brush off rate rise impact

Most estate agents have tried to dismiss the impact of the Bank of England’s base rate rise, which came following a unanimous vote of the Monetary...

Agents Do Charity - and the heatwave's coming back...

Our glorious endless summer has a return visit to many areas this weekend - but it’s still not too hot for dedicated agents and other property...

Countrywide share price plummets after rescue plan announcement

Countrywide's share price has dropped sharply following the announcement of the company's rescue plan - but the firm itself says this is merely a 'reset' by...

Interest rate rise today 'could hurt housing market balance' - warning

A leading estate agent is warning that an interest rate increase today ould hurt the delicate balance of the housing market. The comments - by Jeremy Leaf,...

Conveyancing body wants fees listed on law firms' websites

The Council for Licensed Conveyancers says it wants legal practice websites to list cost information, including whether they have referral arrangements. The CLC is submitting an application...

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