New LonRes product aims to boost flagging new build sales in capital

LonRes has launched a new product which it says helps developers and agents ensure maximum exposure to previously untapped buyers.

A new section of the LonRes database - called ResDev - allows new build selling agents to promote schemes to LonRes subscribers who in turn can search for properties by location, size and price band.

According to a LonRes statement, ResDev offers new build agents the ability to access some 100,000 live buyers via 6,500 agencies working across the network.  

“These are buyers and agents who may not have considered new build properties before” says the statement.

“A platform that uniquely brings together new homes and traditional agents, ResDev enables them to work together for the benefit of seller and buyer alike” explains Anthony Payne, a director at LonRes.

“With access to a network of properties and potential commission splits, ResDev is a natural extension of the LonRes system. Just as LonRes transformed the way in which London agents worked together, ResDev promises to do the same for the new build sector” he continues.

According to the Department of Communities and Local Government, some 16,230 new build homes for private sale were completed in 2016, up 53 per cent on 2011 figures - despite the fact that the London housing market has slowed and the number of overseas and domestic investors looking to buy has fallen back.