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Algarve Investor

Full-time overseas investor

16461 Profile Views

About Me

Spend half my time in England and half my time in Portugal, where I own and let out a number of properties ranging from apartments to villas.

my expertise in the industry

Wouldn't say I was a property expert, but my dealings with the industry in the last two decades have given me a great insight into both the good and bad sides of estate agency. Most people I've met have been professionalism personified, but not all. Which is why I get annoyed by rogue landlords and agents who live up to the greedy estate agent stereotype - it tars everyone with the same brush!

Particularly annoyed by high house prices and the inability of successive governments to build enough new houses. Very keen on innovation and entrepreneurial spirit - estate agency has the tools to lead the way when it comes to new technology (embracing this doesn't mean a rejection of traditional methods!)

Algarve 's Recent Activity

From: Algarve Investor 12 December 2022 12:56 PM

The comedian Harry Hill would probably do a better job than the current top brass, which is quite a damning indictment.

From: Algarve Investor 09 December 2022 09:39 AM

Exactly. The MAB are usually pretty canny, so I can't for the life of me understand how they got drawn into this mess.

From: Algarve Investor 01 December 2022 11:51 AM

The only way is down...

From: Algarve Investor 23 November 2022 10:21 AM

Are you talking about FIFA, or...?

From: Algarve Investor 21 November 2022 09:26 AM

Maybe because Byfield is a well-known industry figure. Maybe because EAT is running World Cup match reports. Maybe because many property people will be football fans who will be feeling similarly queasy about watching the whole charade.

From: Algarve Investor 21 November 2022 09:25 AM

When I first read the headline, I though the US President must have better things to do than get involved in the Levelling Up Bill :)

From: Algarve Investor 18 November 2022 16:13 PM

The same Liz Truss who almost tanked the economy because of her refusal to listen and slavish devotion to an ideology that clearly didn't work? The same Liz Truss who only put her friends and allies in Cabinet, regardless of whether they were fit for the job? The same Liz Truss who was outlasted by a lettuce? I'm no fan of Thatcher, not one bit, but she was a conviction politician. Truss was the complete opposite of that and completely incompetent. The press or media weren't to blame for Truss's downfall - she and Kwarteng managed that all by themselves. And we'll all be paying for their mistakes for a good while.

From: Algarve Investor 15 November 2022 10:59 AM

Civil servants and the Land Registry striking doesn't really add up with the government's rhetoric that the strikers are militants or disrupters or the Guardian-reading, tofu-eating wokerati. There is a serious problem here which is only going to get worse with the savage Autumn Statement later this week.

From: Algarve Investor 15 November 2022 09:29 AM

Excellent. Very well-produced.

From: Algarve Investor 14 November 2022 13:01 PM

Why on earth would Hill want to risk his reputation by joining the circus? It's a more legitimate move than a certain well-known property commentator's idea to bring back the Bruces, but I can't really see what's in it for Hill. PB is too far gone in my book, mired in too many scandals to turn it around. I think it will merge or be swallowed up by one of the big traditional agents eventually, or die out like Boomin.

From: Algarve Investor 09 November 2022 08:17 AM

What's more worrying is some people bought into it and were willing to give them a second chance despite them denigrating traditional agents for so long. This was always going to end badly, given the bungled way it began in the first place, I'm just surprised it took this long. As soon as Boomin had no USP or differentiator, that was it for the whole project.

From: Algarve Investor 31 October 2022 18:03 PM

It's a fine balance. They are still a great marker of whether a home is for sale or to let, but too many of them on a street becomes an eyesore and a blight on the landscape. I think they still have their place, but maybe could be made more digital-friendly.

From: Algarve Investor 29 October 2022 10:44 AM

From: Algarve Investor 28 October 2022 09:44 AM

Oh dear. Decks. Rearranging. Chairs. Titanic. Springs to mind. Like Liz Truss, I think PB needs to be put out of its misery before it gets even worse.

From: Algarve Investor 27 October 2022 10:04 AM

You may want to look away now 😀

From: Algarve Investor 25 October 2022 18:29 PM

Beyond silly now. Clark and Clarke (sounds like a law firm!) might as well not have been there the amount of good they did or achieved. If Gove comes back, that's even more the case. The great survivor may be back in a Cabinet position yet again!

From: Algarve Investor 25 October 2022 15:14 PM

Farce. Can't see Clarke surviving Sunak's cabinet cull, given he was such a Trussite and backed Johnson until he withdrew and then turned his support to Sunak.

From: Algarve Investor 24 October 2022 10:32 AM

God help us! They really have lost the plot. Actually, would be quite funny to see how Boris could fill his Cabinet and junior positions with people who didn't resign to force him out! Clarke knows he'll be out if anyone else wins so seems like desperation from him. Would he be the shortest-serving Housing Sec? It's so hard to keep up.

From: Algarve Investor 21 October 2022 14:49 PM

That should read new PM, surely? He's basically in charge, given how weak Truss is and the fact she's backtracked on nearly everything she apparently stood for. Truss is seemingly toast, so could only be a matter of time before we have a fifth chancellor in five months. We can't continue to have this chaos - a general election is needed now. This Tory psychodrama has gone on for too long.

From: Algarve Investor 17 October 2022 09:13 AM

If the rumours are to be believed, the Mini-Budget could be getting the axe anytime soon - along with the Chancellor!

From: Algarve Investor 14 October 2022 12:03 PM

The battle heats up! The question is why there is such a battle for a firm whose most recent figures were, even according to its CEO, not good enough. And that was being very understated. What is the end goal?

From: Algarve Investor 06 October 2022 14:44 PM

Of course the current crisis was to do with them. There wasn't a run on the pound, mortgage products being pulled or the markets spooked before the unfunded, arrogant mini-Budget. Truss and Kwarteng nearly bankrupted the country - it's astonishing that you lay no blame at their door. Luckily the polls suggest you are in the minority

From: Algarve Investor 01 October 2022 18:46 PM

Taking the Liz Truss approach of carnage so the asset strippers can have a field day. Only logical explanation to such blindness. Reminds me of a football team buying back a player who wasn't that great first time in the hope they'll be better second time round. Never works well

From: Algarve Investor 30 September 2022 08:45 AM

Desperation stuff from an increasingly desperate brand. Aren't PB to all intents and purposes a commission-based model themselves now, with the shift in model and price hikes? Aside from the message, the content of the ads were irritating, unfunny and cringey.

From: Algarve Investor 30 September 2022 08:42 AM

Surprise surprise, you didn't read the article. None of the people involved called themselves influencers, so your rant is directed at the wrong target.

From: Algarve Investor 09 September 2022 16:00 PM

And yet another one bites the dust. Getting silly now. Looked like DLUHC might stay relatively stable, but they're all going now. There will be no-one left to support Clarke at this rate. Farce.

From: Algarve Investor 08 September 2022 12:36 PM

Agree completely that it's utterly wrong for listings to appear on the portals without any images. It's the complete opposite to transparency and is something NTSELAT should be working on to eradicate. But it's the portals who need to pull their finger out first and foremost. If we want a better home buying and selling process and PRS, let's start with actually giving consumers true transparency when it comes to look of the home they are looking to buy or rent. That also goes for images which have clearly been doctored/jazzed-up/Instagrammed to within an inch of their life.

From: Algarve Investor 02 September 2022 09:21 AM

Franchising can work very well, Steve. We only need to look at Belvoir, one of property's best-run businesses, and the growth of TPFG for evidence of that. But the KW-style model, more akin to the US, doesn't translate very well.

From: Algarve Investor 01 September 2022 08:49 AM

I don't think the American model of agency works very well in the UK - the markets are just too different. I've always found it strange that KW, despite being so successful in the States, have struggled to really get a foothold in the UK. But, like easyproperty trying to translate success in one industry to another, trying to be successful in another country is also really hard. Just ask Foxtons, Tesco, Purplebricks and Robbie Williams.

From: Algarve Investor 01 September 2022 08:47 AM

She's going to be busy!

From: Algarve Investor 24 August 2022 08:54 AM

I've always thought it bad that the portals allow listings with no or very few images. Doesn't give a true representation of the property and instantly makes me dubious. Surely, to actually list, it should include some visual element first? Otherwise people are just going in blind.

From: Algarve Investor 23 August 2022 09:06 AM

Haven't we heard this all before with this brand? I think it would be kinder on all parties to let it die. I can't imagine there is even anything to be gained from those investing in the business. It's never going to succeed unless something changes radically. As Charlie says above, the only reasoning can be that he's hoping to sell it on quickly for a profit. But is there anyone left who would want to buy it?

From: Algarve Investor 22 August 2022 07:58 AM

That might be true if he was in any way competent or effective, but the Victorian parody's recent roles suggest otherwise. Brexit opportunities minister - that's a laugh! He's now admitted that opportunities from Brexit have been very limited. Then there was him going around leaving passive aggressive emails on the desks of civil servants demanding they go back to work, despite no evidence that he himself actually does anything of note each day. Just y'day, he was backing Truss's claim that UK workers need to show more graft - pretty tone-deaf at this time. The only person I can think of who would be worse is another of Boris's cheerleaders, Nadine Dorries. At least Gove, for all his many flaws, had experience and conviction and a reputation for reforming. Mogg wouldn't have the first clue about housing in the real world.

From: Algarve Investor 22 August 2022 07:55 AM

They're taking the mickey now, aren't they? Man of the people JRM as Housing Secretary.

From: Algarve Investor 22 August 2022 07:51 AM

Surprised easyProperty are still going, tbh. The only time we hear about them is when they are swapping owners or announcing some PR stunt. Surely the brand doesn't actually make any money, so why keep it going?

From: Algarve Investor 19 August 2022 11:56 AM

I guess the argument would then be: what is the point of estate agents? People moan about online/hybrid agencies for making consumers do all the work, but some of the comments here suggest consumers should be doing a lot more. Of course, due diligence is vital in any major transaction - and people should be doing their own thorough research - but the industry also needs to provide some help and make things easier. Things shouldn't be hidden away or buried in the small print, there should be more transparency. Buying a home is intimidating and complex, no matter what age you are or how many times you've done it, so a helping hand from the professionals is always welcome. It doesn't seem to me to take huge amounts of effort for agents to provide much more useful information on listings. Maybe not going as far as broadband speeds and mobile signal, but they wouldn't do any harm, either.

From: Algarve Investor 17 August 2022 11:34 AM

I guess the idea is people would work better and more productively if less stressed, worn out and under pressure to hit targets. So those backlogs you talk of might start to disappear. It would also be done in such a way as having some staff in Monday to Thursday, and others in Tuesday to Friday. With agency, it would need to be done in a way that covers weekends and out of office hours potentially. But really, the old system is broken and unproductive. Britain works some of the longest hours in Europe, but our productivity is poor. Perhaps tells us something, no? The pandemic showed that flexible working can function perfectly well. There might also be an uplift to recruitment in all this. If, say, would-be agents or conveyancers knew they wouldn't be working ridiculously long hours and suffering burnout, the incentive to join these professions might be greater. What is the staff turnover like in these professions? How many people leave them after a few years? What is the retention rate? I'd imagine not very good. No-one is saying there wouldn't be challenges to a shift - I happen to think shorter working days, in most lines of work, would work better than a four-day week myself. But we have to think big and bold. We have to be innovative. Something is going wrong at present, why don't we seek out alternatives rather than sticking with the status quo? Better for wellbeing, better for the environment, no drop in productivity - I can't see too much wrong with it. It would be worth at least a small-scale trial, if some were brave enough to take part, to see how it goes.

From: Algarve Investor 10 August 2022 09:14 AM

They're in the death throes now, surely?

From: Algarve Investor 02 August 2022 10:12 AM

Strong words from Spicerhaart there. All a bit unseemly.

From: Algarve Investor 26 July 2022 08:40 AM

Spot on analysis.

From: Algarve Investor 23 July 2022 12:18 PM

Nice one, Kristjan!

From: Algarve Investor 20 July 2022 07:24 AM

He'll be gone in three months.

From: Algarve Investor 08 July 2022 08:25 AM

From: Algarve Investor 07 July 2022 11:59 AM

And another one bites the dust - this is getting silly now. Andrew was so absent and ineffective as a housing minister - Eddie Hughes seemed to do the lion's share of things - that I doubt he'll be a big miss, but strikes of a government that is in terminal decline. Yet another new housing minister, too, this one lasted not even six months. Can't see Gove going unless he's offered a plummer job.

From: Algarve Investor 06 July 2022 14:24 PM

Gove is as slippery and snake-like as they come and will be entirely out for himself. He'll be weighing up whether loyalty is to his advantage or whether Boris Johnson is such a busted flush he can afford to suddenly find his morals down the back of the sofa. Gove has noticeably not been on the airwaves defending Johnson recently, but the man hasn't been the longest-serving Cabinet minister for nothing - he knows how to survive at all costs. You can bet your bottom dollar he'd be in No 11 quicker than anything if Boris were to offer him the position of Chancellor. Either way, only a matter of time until Johnson goes, it's just a matter of how long he drags it out. So there will be a new Housing Secretary and Housing Minister again before too long.

From: Algarve Investor 05 July 2022 20:11 PM

You have to wonder if that's what they want - after all, it's probably the thing that's propping up the economy more than anything. The government can't afford for the bubble to burst otherwise they'd be in deep doodoo.

From: Algarve Investor 04 July 2022 16:01 PM

The latest terrible idea from a failing government clutching at more straws than every takeaway establishment in the UK.

From: Algarve Investor 04 July 2022 15:59 PM

Last throw of the dice, but almost certainly too late. I suppose they can't really call themselves low-cost anymore. Do they still call themselves online and 24/7?

From: Algarve Investor 01 July 2022 15:33 PM

Fair play to him. Well done that man!

From: Algarve Investor 29 June 2022 09:16 AM

Hmm, I can see some problems here. I thought listings which weren't compliant wouldn't be allowed on in the first place?

From: Algarve Investor 22 June 2022 09:15 AM

Might be too little too late for a previously well-respected organisation. Like partygate and Boris, they might forever be tainted by the scandal and never quite able to recover.

From: Algarve Investor 21 June 2022 14:01 PM

The headline says 'local communities warned second home sales bans will backfire' - and then the article goes on to state a property expert warning local communities that it could backfire. I can't see how that's misleading, unless I'm missing something? Which is entirely possible.

From: Algarve Investor 21 June 2022 09:48 AM

Seems like madness at this time. What are they thinking?

From: Algarve Investor 21 June 2022 09:45 AM

Well, that's reassuring. It's almost like the policy was thought up on the hoof and reheated to provide a distraction?

From: Algarve Investor 14 June 2022 09:36 AM

Blimey, must be Stuart Andrew's first public appearance since he took on the role. He's been the invisible man until now.

From: Algarve Investor 13 June 2022 10:05 AM

Fair points. I'm inclined to agree.

From: Algarve Investor 10 June 2022 10:36 AM

"In a speech heavy on promises for support on business and household costs but light on actual policy" That's Johnson in a nutshell - devoid of substance. Come up with some fancy metaphors, bang his fist, raise his voice, say nothing of any value.

From: Algarve Investor 09 June 2022 14:33 PM

It'll be about as successful as First Homes or whatever that scheme the government launched last year was called. In all likelihood it will be an extension of Right to Buy to try and be a Thatcher-esque vote-winner - another populist move from a leader and government who have run out of ideas and have no clear vision.

From: Algarve Investor 07 June 2022 09:04 AM

Brave name given the success of a certain video call platform in recent years. Going to be a struggle with SEO, I would have thought!

From: Algarve Investor 07 June 2022 08:22 AM

That happened quickly. Quite a poaching.

From: Algarve Investor 30 May 2022 08:16 AM

One of Boomin's more interesting pieces, to be fair. Less fluffy than usual.

From: Algarve Investor 27 May 2022 11:00 AM

Some great tributes there. A life well-lived and a great legacy, for sure. RIP.

From: Algarve Investor 27 May 2022 09:03 AM

Plodding on until its inevitable demise, much like Countrywide. Any news on the class action?

From: Algarve Investor 25 May 2022 10:20 AM

I read the article. I appreciate that there are always two sides to the story, and this one is there to bash estate agents, who very often have an unfair reputation and are an easy punching bag. But equally the account given is pretty scathing, and there must at least be some truth to what is written here. Are soul-crushing cold calls really still happening in agency? Are there ridiculous targets to be met each day? I think we all knew about the low pay, long hours and lack of necessary qualifications, but some of the above outlined sounds so outdated.

From: Algarve Investor 23 May 2022 08:34 AM

Could you enlighten us, Guy? I thought it was commonly agreed that it was a pretty awful practice that should be banned. Is that not the case? What benefits does it have? Surely it's a bit unethical, no?

From: Algarve Investor 23 May 2022 08:29 AM

I doubt it will ever see the light of day.

From: Algarve Investor 20 May 2022 09:11 AM

Seems reasonable enough to me.

From: Algarve Investor 18 May 2022 12:04 PM

There's got to be some way of improving the system for all parties. Perhaps more conveyancers who have been agents and more agents who have been conveyancers might help in understanding the pain points, frustrations and main reasons for delays and issues.

From: Algarve Investor 18 May 2022 09:50 AM

From: Algarve Investor 18 May 2022 09:48 AM

Don't nearly all consumers use Rightmove and Zoopla?

From: Algarve Investor 11 May 2022 14:11 PM

I don't doubt this is the case, but why do many agents stay with them? Better the devil you know? Are the alternatives too risky? I guess maybe it's similar to restaurants and Just Eat or hotels and Booking. They don't like having to be on these websites, they have to pay too much commission to them, but the alternative is less business. Would be interested to hear the opinions of agents on this

From: Algarve Investor 11 May 2022 09:00 AM

Disastrous policy in the 80s, still disastrous now. Smacks of a government running out of ideas, if they actually had any in the first place. If the results y'day are anything to go by, they might also be running out of time.

From: Algarve Investor 07 May 2022 09:35 AM

Seems fair enough. Unless I'm missing something?

From: Algarve Investor 04 May 2022 17:06 PM

Oh dear. How is that in any way offensive? It's funny, witty and memorable, what good advertising should be. The fact that only one person complained says it all. Wrong move from the ASA here.

From: Algarve Investor 27 April 2022 09:31 AM

Fair play, and doing more than most in the government, but hasn't he got about six houses? Which might make it a bit easier to step up. Interesting to see him be pretty critical of the government here, having previously been a Johnson acolyte. Perhaps getting sacked has taught him that BoJo wouldn't know what loyalty or decency was if it smacked him in the face.

From: Algarve Investor 19 April 2022 08:44 AM

Just the latest farce for a company that moves from scandal to scandal, and can't seem to halt its downward spiral.

From: Algarve Investor 04 April 2022 08:45 AM

I think that is the hard truth of the matter - people don't know it in the way they definitely did/do PB, for good or ill. Everyone knows Rightmove and Zoopla, more and more people now know OTM. But even after a year I just don't think that brand awareness is there, nor ever will be. Despite the high-profile advertising campaign and the bright marketing.

From: Algarve Investor 28 March 2022 12:28 PM

Excellent idea!

From: Algarve Investor 18 March 2022 12:41 PM

I don't think any young person or first-time buyer is saying that - more that house prices should in some way be reasonable and affordable, which hasn't been the case for a very long time.

From: Algarve Investor 17 March 2022 09:14 AM

That £5 saved on a Greggs breakfast - and I doubt many people are even spending that, and certainly not daily - is hardly going to make a difference, as it will still take many years of saving to make even the remote bit of difference. Plus in most parts of the country, the deposit required is so much higher. What's more, if house prices were reasonable and in any way affordable, there wouldn't be the need to scrimp and save to this degree. I agree that buying a home takes some sacrifices, but it is patronising nonsense to suggest that a Greggs or Costa coffee is going to make much of a difference. It's the same as those who call millennials smashed avocado on toast eating snowflakes, when in my experience middle-aged people are just as likely to eat smashed avo and more likely to be snowflakey (I hate that word) about the smallest of things.

From: Algarve Investor 17 March 2022 09:12 AM

Beginning of the end for the agency, I would have thought. How many more scandals and resignations can it handle?

From: Algarve Investor 11 March 2022 08:52 AM

From: Algarve Investor 10 March 2022 08:50 AM

"with chief operating officer Helena Marston - who has no estate agency experience outside of Purplebricks - taking over from April 4." A poisoned chalice if ever there was one.

From: Algarve Investor 10 March 2022 08:50 AM

No. Next question?

From: Algarve Investor 28 February 2022 08:30 AM

The two are linked, though. How has London's property market been able to be infiltrated by so much Russian money, which in turns gives them power and influence? And because, in many cases, they're mates with Putin, it gives him legitimacy and credibility and power and influence himself. It's the same with Russian donors to certain political parties in the UK, and the reliance on gas and oil, and as Kristjan says above, Italy's caveated sanctions. Self-interest is being prioritised, and proper sanctions aren't yet being introduced.

From: Algarve Investor 24 February 2022 12:50 PM

You already got Brexit - you no longer need to blame the EU for everything. Maybe try blaming the country that is invading another sovereign country. Just a thought.

From: Algarve Investor 24 February 2022 10:10 AM

If only it was that simple. Mr Putin was looking for any excuse to invade, and seems to be slowly losing the plot as he surrounds himself with yes men and becomes increasingly erratic and unhinged. Sound familiar? Also, the argument that the wealth will be taken anywhere is not an argument against cleaning up PCL, which has allowed far too much Russian money into it, often from dubious or nefarious sources. Plus the government may want to double check their donor list again.

From: Algarve Investor 24 February 2022 09:33 AM

Not sure how useful QR codes really are. People have got more used to them during the pandemic, when they've often been necessary to order food and drinks at restaurants and pubs, but I've always found them a bit of a palaver. Not especially easy to use and a bit cumbersome. But, in principle, the idea is not a bad one if the tech is up to the job.

From: Algarve Investor 23 February 2022 09:04 AM

All seems pretty sensible to me. Unless I'm missing an obvious flaw?

From: Algarve Investor 21 February 2022 11:01 AM

Interesting that it's taken so long for this correction - at first, she seemed to double down quite hard on what she'd said. Good to see she's changed her mind - and, as she says, time for everyone to move on now. Although I'd argue the story did quite quickly become tomorrow's chip paper, as most Twitter storms do.

From: Algarve Investor 21 February 2022 09:10 AM

It's pretty inevitable that a story involving such a high-profile agency is going to make the trade news, too, I would have thought? I'm no fan of the Mail, but not sure why you think they've invented the story on the basis of no evidence - what evidence do you have for that?

From: Algarve Investor 17 February 2022 08:49 AM

It doesn't look great, though, does it? Especially as the agency in question will no doubt regularly talk about professionalism in all its marketing material. Plus agency already has an image problem, and this sort of stuff just reinforces those negative stereotypes.

From: Algarve Investor 17 February 2022 08:47 AM

Seems a little unnecessary. Barely anyone knows who easyproperty are, so doubt there would have been much confusion!

From: Algarve Investor 14 February 2022 07:59 AM

Oh dear. These companies don't help themselves, do they?

From: Algarve Investor 14 February 2022 07:58 AM

He speaks very well, and a lot of sense. Not surprising to see that Belvoir have been so successful under his leadership for so long. Remaining CEO for that long doesn't just happen by luck. Our current national leaders could learn a thing or two about what good leadership means.

From: Algarve Investor 11 February 2022 12:20 PM

I wasn't sure Countrywide was still going. First I've heard of them for quite some time.

From: Algarve Investor 11 February 2022 10:12 AM

And he'll be gone at the first sign of a promotion. Housing minister should be seen as one of the most key junior positions, not a mere stepping stone for ambitious MPs.

From: Algarve Investor 08 February 2022 15:59 PM

Not another one, as Brenda from Bristol might say. The merry-go-round continues. If Pincher is moved, as has been speculated, that might not be the worst thing given he's spent most of the last few months trying to save Boris from getting the boot. Concentrating more on Operation Save Big Dog than his actual brief. As housing minister, he has, too, been utterly forgettable. I can only think of a handful of times when he's actually said or done anything of note, so I'm not sure he'll be missed. He lasted longer than most, but we'll no doubt be back here in a few months time with another new Housing Minister if Operation Save Big Dog fails - as looks increasingly likely.

From: Algarve Investor 08 February 2022 14:39 PM

Why is her having help to buy not relevant? I doubt very much she struggled to get on the property ladder, given her background as the daughter of a baron, whereas many others do, even those who save frugally each month. They're not going to appreciate being patronised to. Generations before had it far easier to get on the ladder, with much lower prices and a much narrower earnings to mortgage ratio. The idea that today's market and the market of the early 2000s or 90s are similar is pie in the sky.

From: Algarve Investor 07 February 2022 16:20 PM

It all depends on your definition of affordable - affordable in London and the SE has now become £390,000 for a one-bed flat. In no sane world is that affordable. It's easy to say, well, you need to move north or somewhere else, but it's not always that simple. People have work, family, friends, roots in an area. Plus don't get me started on Shared Ownership - the half renting/half owning halfway house nightmare with homes that are often difficult to sell on because of cladding and leasehold issues. What's more, you never truly own the home, with staircasing up to 100% very rare from what I've seen.

From: Algarve Investor 07 February 2022 16:16 PM

I agree with Piers Morgan - now I feel dirty!

From: Algarve Investor 07 February 2022 10:20 AM

Is it entitled to expect relatively affordable housing? The average deposit required for a home in parts of the country is ludicrous. If you're a single person on one salary, it's even harder. Not so long ago, it was possible for, say, a couple who worked as a teacher and a nurse to afford to buy a home, even in London. Now they wouldn't even get a garage space. Lots of young people save scrupulously and struggle badly to buy a home, while forgoing holidays, new cars and social occasions. Others might do the things you mention, but who was it that created such a consumerist culture? Our generation can't be absolved of blame on that front.

From: Algarve Investor 07 February 2022 10:19 AM

This is nonsense. You're tarring a whole generation with the same brush. Also, there can be no doubt that it's far harder to buy a home now than it was 20, 30 or 40 years ago, even 10 years ago. For one, house prices were significantly cheaper and the salary to mortgage ratio was much, much lower. Young people now have to save for years if they want to buy a house, and will probably still require parental help in many cases. As the article above states, even saving £1,600 a year (for all those takeaway coffees that all young people apparently drink) would still mean saving for 37 years. I'm sure Kirstie didn't have it too hard when buying her first home, given her background. Plus, the idea that people should just move away to somewhere completely new - where they have no roots or connections - is equal nonsense. It's not quite as easy as that, is it? And why can't there be affordability in their local area. No-one's saying buying a home is impossible for young people, but it's also very, very difficult. It's just pathetic generational point-scoring to state otherwise.

From: Algarve Investor 07 February 2022 10:13 AM

Out of the frying pan and into the fire springs to mind :)

From: Algarve Investor 03 February 2022 11:05 AM

From: Algarve Investor 01 February 2022 11:01 AM

Seems only a matter of time before it goes the way of CW, another business hit by scandal after scandal until it could take it no more.

From: Algarve Investor 31 January 2022 09:24 AM

They are the values of the society we live in. If you don't like it, move to Dubai. Even if PB were merely doing it for positive PR, it was entirely the right decision. Refusing to sell someone a home because of their sexual orientation is discrimination, pure and simple. Fortunately, we now live in a time where that is the case, when it once wouldn't have been. Everyone is entitled to their opinion, but equally that opinion can be challenged and if that opinion doesn't fit in with the laws and values of that society, then that has consequences. It's a bit like vaccinations - people have the right not to have them, but equally they must understand that there are consequences to that action.

From: Algarve Investor 24 January 2022 12:07 PM

Got to distract attention from the lack of real figures and progress somehow. Fluffy data like this seems to be the way they are doing that.

From: Algarve Investor 20 January 2022 11:15 AM

No base or absolute numbers seems strange - gives the impression that they're not that impressive, does it not? Why not announce them otherwise, as the other portals generally do?

From: Algarve Investor 18 January 2022 09:36 AM

It would all feel much more sincere if it felt like there was a genuine desire from Boomin/the Bruces to help agents - which goes against pretty much everything they did at PB for all those years.

From: Algarve Investor 13 January 2022 12:13 PM

A lot of hot air and smoke and mirrors, it would seem.

From: Algarve Investor 07 January 2022 10:22 AM

I think you might be in a club of one there, Andrew :)

From: Algarve Investor 22 December 2021 12:07 PM

From: Algarve Investor 21 December 2021 11:58 AM

Shocking. Another scandal waiting to happen.

From: Algarve Investor 21 December 2021 09:44 AM

Good advert, but advertising and PR has never been a problem for the Bruce brothers when it comes to both PB and Boomin - it's real-life results that has caused a bigger problem. Until we get some actual hard data about how the portal is performing, this just looks like another expensive marketing drive to increase Boomin's profile - which hasn't yet entered the public's consciousness in the way that PB, for all its many troubles and flaws, definitely has.

From: Algarve Investor 21 December 2021 09:42 AM

He's right, though, isn't he?

From: Algarve Investor 20 December 2021 10:36 AM

From: Algarve Investor 15 December 2021 10:44 AM

Ah, great. We'll get to hear all about how, in a fairer world, he'd still be England manager and would have been hailed as a great if he had a name like Allardici. Truth is, he was a half-decent manager good at firefighting relegation. He had his best spell at Bolton, with lots of ageing stars and promising young guns - ironically, for a vocal Brexiteer, lots of EU talent included - but has suffered the law of diminishing returns. We have to thank our lucky stars that Southgate got the job instead - a man of dignity and decency. There's no way we'd have reached a final and semi-final at the last two tournaments with Big Sam in charge.

From: Algarve Investor 10 December 2021 11:16 AM

Some of the best yet!

From: Algarve Investor 08 December 2021 14:28 PM

Eminently sensible, in my view.

From: Algarve Investor 08 December 2021 14:28 PM

I believe the phrase sinking ship might be appropriate here. There will be a lot of schadenfreude going on right now, but it kind of serves PB right for being so provocative and seemingly anti-agent for so long. That was alright when they still had a decent market share and a sense of going forward as a business, but it seems unlikely it will be very much longer for this world at the rate it's going.

From: Algarve Investor 06 December 2021 17:02 PM

Blimey, it just gets worse. I'm almost feeling sorry for them - the ultimate commisery. PB will be the punching bag here, but I'm sure they're not the only ones who have been guilty of dubious practices.

From: Algarve Investor 01 December 2021 16:29 PM

Such an easy thing to do, unless you're exempt. Minimally uncomfortable, but in no way an imposition on liberty in the way some people seem to think. I wonder if compliance will be so high now after the advice softened for so long - there has been a very noticeable fall in mask-wearing in shops, the Tube, buses and trains, so it could take some time for this to go back the other way. Estate agents, in public-facing roles, have a role to play in setting the right example.

From: Algarve Investor 30 November 2021 09:17 AM

Great stuff! We need more to follow suit.

From: Algarve Investor 25 November 2021 09:28 AM

What an utter farce HS2 is - and this is just the latest scandal. Badly thought through, poorly planned, vastly over budget, many years delayed. It's got absolutely nothing right and so much wrong. The country is crying out for better rail services and connections, but HS2 was never it and should have been scrapped a couple of years ago when its future was in doubt. The environmental, social and financial case just isn't there one bit.

From: Algarve Investor 22 November 2021 09:11 AM

On the contrary, there is a fantastic opportunity for whoever gets in first on leading the green revolution. The future is green, whether people like it or not, and it's those people and companies who take advantage of that fact that will thrive. China, India, Russia and others will follow when they realise all the money is in renewables, green tech and sustainability.

From: Algarve Investor 17 November 2021 15:19 PM

Ah, the climate change deniers are out in force, I see. I suppose all these recent extreme weather events are happening by magic, are they? Luckily, most world leaders now seem to be on board and realise they can't ignore the facts presented to them anymore. Sustainability is now the name of the game, and the public pressure for change is huge. That's no small thing and has really changed the conversation around green issues. Good to see ESTAS and AllAgents putting rivalries aside to put together this venture - interesting to see how it pans out.

From: Algarve Investor 17 November 2021 15:18 PM

They really wouldn't.

From: Algarve Investor 11 November 2021 09:18 AM

Truly shocking.

From: Algarve Investor 10 November 2021 15:55 PM

Could set e-conveyancing back by quite some years - which is a shame, given that seems to be the future and has many upsides.

From: Algarve Investor 10 November 2021 09:57 AM

Beginning of the end for PB, I think. All seems to be going in one direction, no matter how much money they chuck at it. I've always pointed to PB's excellent brand awareness - which is undeniable - as one reason why they might survive in a way that YOPA and easyProperty and other online operations clearly aren't, but clearly that only gets you so far if it's not backed up by actual results. I still know of quite a few people who would be willing to give PB a go because real agents 'do nothing', but of course the reality is a lot different. And now that PB have lost their USP, they're just another failing brand which gets caught up in more PR own goals than most.

From: Algarve Investor 04 November 2021 11:17 AM

Lettings almost completely ignored - bizarre. I agree that he has probably missed a trick here, in a Budget that has attempted to offer something for everyone while actually offering very little. Underneath all the boasts and braying, seems there will be some tough months ahead. And Sunak seems to have found Theresa May's magic money tree!

From: Algarve Investor 27 October 2021 14:32 PM

Almost certainly. I think a can of worms has been opened here, although how successful the class actions will be against the financial might of some of those involved is much less clear-cut.

From: Algarve Investor 21 October 2021 09:27 AM

Oh dear. I'm sure this won't be the first set of class actions and this will run and run. I'm surprised it hasn't happened before. I think the other self-employed models might need to be careful, too. Is it any surprise that PB has now shifted to a fully employed model? All very suspect. We saw Uber and other gig economy companies get it in the neck a few years ago over things like workers' rights and pay, and I think the reckoning could be coming to a few in the property world now too.

From: Algarve Investor 20 October 2021 10:04 AM

You did enough to comment :)

From: Algarve Investor 19 October 2021 16:10 PM

Fair play to Knight Frank. Along with Savills and a few others, the firm has transcended the property market and become more than just an agency. They have probably filled the gap of most trustworthy and reputable property firm now that RICS' reputation has gone down the pan.

From: Algarve Investor 19 October 2021 09:55 AM

The self-employed model is really not helping itself with all these bold claims, setting itself up for a grand old fall. What happened to humility and a sense of humbleness? Boastfulness is never a good trait. I agree with Anna that being self-employed has its perks, as she lays out above, but it has its downsides and risks, too - and won't be for everyone. It would be nice to hear these stories or stories about people who didn't make it.

From: Algarve Investor 12 October 2021 09:49 AM

Damage has been done for RICS. What a fall from grace for an organisation that was once a byword for decency, integrity and trust, at least as far as property is concerned. Now forever tainted.

From: Algarve Investor 11 October 2021 15:05 PM

Very sad news. That's no age. And, as Martin above says, rather puts things into perspective.

From: Algarve Investor 08 October 2021 12:25 PM

I call BS. Even if we're to believe the figures he's talking about, which is very hard to believe, he's not factored in any overheads or other costs, or taxes. Given most directors of major corporates earn less than he is claiming to earn, I find it very hard to believe this latest claim. It's doing the self-employed model no favours - these bold and bombastic claims. There is a place for that model in agency, and some are having success, but the numbers being talked about in the last few days have been ridiculous and nonsensical.

From: Algarve Investor 08 October 2021 08:13 AM

Yes, this is all true. There are certain advantages to being self-employed, and it can very much work for some people, but the downsides and cons should be put forward, too. Rather than this constant everything is rosy PR pitch for the self-employed model, with grand boasts like this.

From: Algarve Investor 07 October 2021 08:32 AM

The whole thing stinks to high heaven.

From: Algarve Investor 05 October 2021 11:42 AM

Good idea, but will Channel 4 even be able to run a full programme without sound issues ever again?

From: Algarve Investor 04 October 2021 16:42 PM

Nice story - and it is undoubtedly the case that the vast majority of those in the property industry, like most industries, are decent, hard-working and diligent. But, more than most, the property industry needs to shout out about it because of the in-built and hard to shift negative perception of real estate professionals. Well done to everyone for their work during such challenging times. Hopefully the end of the holiday gives people their own little holidays to recover!

From: Algarve Investor 01 October 2021 09:04 AM

A little bit suspect how easy everything passed? Reminds me of a three-line whip in politics, where you must vote a certain way on pain of death.

From: Algarve Investor 29 September 2021 09:46 AM

Hmm, that went well then.

From: Algarve Investor 29 September 2021 09:40 AM

Yopa - are they still going? Last time I checked they were busy deleting all those videos from a few years ago to pretend they never existed. Seemed to spend more time doing that than actual agency. For all the huge sums pumped in and the considerable backing they have, they've never broken through.

From: Algarve Investor 28 September 2021 10:12 AM

"In its words it's "selling nearly four times more properties than any other brand." You've got to hand it to them - pure bravado. As Lee above says, no actual stats to back that up, but PB have always been excellent at taking full advantage of that gap between perception and reality.

From: Algarve Investor 24 September 2021 09:50 AM

Awful name and, as Aidan says above, a demotion for housing only a few years after it finally got the promotion and prominence it deserved at Cabinet. Worse still, levelling up is a meaningless slogan that no-one seems to be able to quantify. The latest Johnsonian headline-grabber that actually has no substance. The name change clearly states levelling up - whatever that means - will be more important to Gove than housing, which goes against the idea that fixing the cladding crisis will be his main focus.

From: Algarve Investor 20 September 2021 09:50 AM

Didn't he break the law? He should never have survived that sleaze scandal. I'm amazed he's lasted this long. In any other time, he'd have gone. He basically helped a Tory donor avoid a load of tax - shocking and so blatant.

From: Algarve Investor 15 September 2021 15:06 PM

Distraction? Oh, looky looky over here, with this big, bold announcement, so no-one pays attention to the news conference later today or the breaking news story y'day about the CEO jumping ship. Maybe I'm just being cynical, but smacks a bit of a dead cat.

From: Algarve Investor 09 September 2021 09:58 AM

Leaving. Sinking. Ship springs to mind. Just one day before a no doubt damning news conference - doesn't look suspicious at all! I'm sure he's been, ahem, compensated well to head off into the sunset and say little, but is a further real stain on a once highly trusted and respected business. They were once the standard-bearer in the property world for decency, trust and respectability, but seemingly no more. I still can't understand how someone can, in good conscience, rake in that kind of salary with bonuses while letting 140 people go during a pandemic. Even more so when you consider this scandal he was overseeing. I doubt many will be sad to see him go, is the sad truth, after over a decade in the role and a previously unblemished stint.

From: Algarve Investor 08 September 2021 14:51 PM

"Two months ago Purplebricks pledged to return vendors’ upfront fees if the agency fails to find a buyer, albeit with strings attached" What strings might they be then? :)

From: Algarve Investor 07 September 2021 10:08 AM

Interesting. A very big name to go up for sale. I wonder if some of the big agency groups will be sniffing round them? Certainly a respected, well-established heritage brand with a long and varied history.

From: Algarve Investor 02 September 2021 17:17 PM

Fascinating insight into an undeniably Marmite brand. I think that era of win-at-all-costs, ruthless, dog-eat-dog agency is over - and all the better for it. It was of its time but now just looks dated and questionable. Business should never be carried out in a gladiatorial manner, but in a collaborative way. That said, Foxtons knew - and still know - better than most how to ruffle feathers and get under people's skins. Arguably, though, they have become quite establishment and have seen their love to hate tag taken on by Purplebricks and Boomin.

From: Algarve Investor 02 September 2021 13:43 PM

"Many people do not believe it is possible to earn £100,000 a year as an estate agent" And in the vast majority of cases they'd be right, wouldn't they? Isn't a bit misleading to promise otherwise?

From: Algarve Investor 31 August 2021 10:18 AM

Normally agree with most of what you say, Sam, but have to disagree with you here. Choice is what is needed. Some people work better from home, some people work better in the office, but I think there is plenty of evidence to say people are just as productive working remotely - if not more so - and it's not been to the detriment of the economy or companies that WFH has become more popular. Agency is a bit of a different beast to most industries, given it's more customer-facing than most office-based roles, but even then I think choice is crucial. No-one should be forced or mandated back to work; flexibility should be encouraged. It's perfectly possible to separate work and life at home with certain boundaries, and the lack of a commute is a dream for many. I think many people would be more exhausted after a day in the office than one spent at home. Even if agencies do return full-time, as many already have, surely the old ways of 9-7pm are now antiquated? How much of that time is just totally wasted? It's not like branches are overloaded with people coming in these days.

From: Algarve Investor 25 August 2021 14:26 PM

This seems a bit like GB News or the government's exams debacle last year - a bad idea that everyone can see is a bad idea apart from the people who have come up with it. I have to agree with the above commenter that a dead horse is being flogged. All the polls and comments I have seen suggest agents are firmly against it, bar a few exceptions. It would help if ViewRabbit could release details of the agents they have on board - I reckon that would keep some of the criticism at bay.

From: Algarve Investor 02 August 2021 11:15 AM

From: Algarve Investor 28 July 2021 09:39 AM

This launch is going about as well as Boomin! :)

From: Algarve Investor 27 July 2021 10:44 AM

Would be interesting to know how Boomin are doing on brand recognition, three or four months after launching. Purplebricks managed it very well among the general public - if you ask non-property people, they know what PB is - but anyone I've spoken to has no idea what Boomin is, despite those annoying, Brian-Cox narrated ads. There is an argument that Boomin has made Rightmove, Zoopla and OTM stronger, just as OTM made Rightmove and eventually Zoopla much stronger before it. I'm just not sure what Boomin's ultimate goal or vision is. The website is much the same as all the other portals.

From: Algarve Investor 20 July 2021 13:24 PM

Always the way. The rich get richer in times of crisis and the poor get poorer. At least the pandemic has made people far less tolerant of influencers and the super-rich, as it's become clear who the true heroes of life are. Let's hope more people are now aspiring to be doctors, nurses and scientists rather than Kim Kardashian or some Love Island nobody.

From: Algarve Investor 14 July 2021 10:42 AM

The MP in question is not sorry, she's just sorry her rather pathetic little dig at a fine young man was leaked. Tory MPs have been waiting for any excuse to lay into Rashford because of how silly he made them look without ever openly entering party politics. Rashford, along with Tryone Mings and others, have become very impressive spokespeople on key issues. Sadly, they have been doing the opposition's job for them too much of the time.

From: Algarve Investor 13 July 2021 10:17 AM

No he doesn't. Quite the opposite. He expects, as Gabby Logan superbly points out, the government of the sixth richest nation in the world to look after and feed its children adequately. That's not too much to ask, is it? If we go with your version of things, with no safety net or government support, we return to Victorian times - a dog-eat-dog world where everyone must fend for themselves and if you're poor, you're feckless. You have absolutely no idea what he does with his salary - I'm absolutely sure he gives a lot of it back. He remembers where he came from, like many of the England players. Plus it's not Marcus Rashford's responsibility to feed kids, just like it's not his responsibility to make laws or protect us from diseases and viruses - that's the job of the government. There is a personal responsibility angle, but it's not entitlement to expect a good job with a decent wage and a roof over your heard. The welfare system isn't perfect, and is open to abuse, but it's far, far better than the alternative. Just look at the places around the world which don't have it. Remove it at your peril.

From: Algarve Investor 13 July 2021 10:15 AM

The correct decision to suspend him and for the police to investigate. I still struggle to see how he survives this without the sack. He claims a third party took over his account? Hmm, sounds very, very dubious to me. And almost impossible to prove. Has been heartening to see the condemnation of the racist abuse received by the England players. Let's hope the decent majority really do outweigh the horrible minority of knuckle-draggers and racists. The whole thing was so depressingly predictable, though, which is the saddest thing.

From: Algarve Investor 12 July 2021 16:12 PM

Using the word boutique is just a chance to charge twice as much for the services you offer, isn't it? :)

From: Algarve Investor 12 July 2021 10:57 AM

One of the less annoying property adverts - good music, short, to the point, keeps your attention. But not sure about the claims of selling a home for free? How does that work? Are there no costs involved at all? That is the impression given, at least.

From: Algarve Investor 12 July 2021 09:36 AM

Having seen screenshots of the since deleted offending tweet, I'd be utterly amazed if the employee in question keeps their job. Totally disgusting, moronic and depressingly predictable. Following the Chris Whitty incident, it's not been a good few days for those in the property industry.

From: Algarve Investor 12 July 2021 09:27 AM

Good luck to him, but the cynical part of me says this smacks of yet another easyProperty PR stunt, following on from the guy with no property experience, and the cricketers, and the young agent who left Purplebricks. There is always some unique narrative behind it. I guess what I'd like to know is how easyProperty is doing when it comes to the bread and butter of selling and letting homes? It's been around for a fair old while now, but other than the odd story like this every so often, we never get any facts or figures or stats.

From: Algarve Investor 09 July 2021 09:06 AM

Surely everyone who wants to be back in the office has already gone back, those who want a hybrid are employing a hybrid approach, and those who want to work from home full-time are already doing that? There should be no obligation for employees to return - that's going to cause major issues. WFH has worked well for many people, with no impact on productivity (in fact, it's gone up, in anything). There has been better work/life balance for many. If people want to go into the office, bully for them. If they don't, it shouldn't be enforced.

From: Algarve Investor 05 July 2021 17:30 PM

It's a lot quicker than that, although quite fiddly. Only a small saving, but every little helps, as a certain big supermarket brand regularly tells us. Plus, as my Nan always told me, if you look after the pennies, the pounds will take care of themselves! :)

From: Algarve Investor 05 July 2021 09:38 AM

Not sure they are unfortunate. It was their decision to do it in the first place and then post to the world about it - very far from bright. I imagine they expected to become viral sensations, neglecting to notice that Whitty looked visibly uncomfortable. How would you like it if two drunken louts started hugging you, especially now of all times, with an ongoing pandemic? Also, if you wanted to lock away all 'strange' and shy people, you'd be asking lots of people to stay out of society! Whitty should expect to go about his daily business without being manhandled in this way or subject to abuse and intimidation and anti-lockdown/anti-vaxxers causing trouble outside his home. How stupid are these people? I think there probably has been a bit of a pile-on, and Boris's words weren't best chosen given his far from clean-cut past, but their actions were very idiotic and they deserved to be punished. Maybe a job loss and the bad press would have been enough, but sending out a clear statement to people who might be considering taking things even further seems to be playing a part in the tougher punishment.

From: Algarve Investor 02 July 2021 13:50 PM

Definitely a move to discourage further harassment of Whitty, which is entirely right given the work he's done and the fact he never asked to be in the public spotlight. Outside of a pandemic, he would never have had this level of fame and would have been able to go about his life and work quietly and without any fuss. Having seen the video, common assault seems a little harsh, although clearly they made Whitty very uncomfortable and acted like drunken, boorish morons. Hughes has at least appeared remorseful and has already lost his job, but I guess this shows that actions will have consequences, particularly if you post your stupidity all over social media for the world to see.

From: Algarve Investor 02 July 2021 11:53 AM

Interesting. His founding story was impressive and inspiring, given he was so young, but some of the claims were certainly overly bullish, bordering on the antagonistic. I would also maybe question the £1 billion figure. That would be £250 million worth of property sold each year - can that really be true? Possibly it is, but sounds a little high. Interesting to see there are creative differences at the top and best of luck to him in his future path.

From: Algarve Investor 29 June 2021 11:33 AM

Wasn't it John Cleese in Clockwise who came up with the 'it's the hope that kills you' line? "It's not the despair, Laura. I can take the despair. It's the hope I can't stand. ~ Brian Stimpson, Clockwise"

From: Algarve Investor 23 June 2021 12:01 PM

What can possibly go wrong? I'm just amazed easyProperty is still going. It's only every few months that I get a reminder of its existence, when it comes up with its latest PR stunt.

From: Algarve Investor 18 June 2021 16:23 PM

Soon Boomin will have more staff than agents signed up! :)

From: Algarve Investor 14 June 2021 12:52 PM

And agents wonder why they get a bad name... Sure, it's only £5, but it's still not really on. What is the need to charge £5 for a viewing? Just seems like a money-making exercise to me, to take advantage of the booming housing market. The sort of thing Del-boy would do to make a fast buck.

From: Algarve Investor 10 June 2021 09:44 AM

He does seem an impressive figure and OTM do seem to be enjoying a bounce. I have mocked or been dismissive of them before, mostly because of their delusions of grandeur and their naff adverts (plus Ian Springett was a very Marmite figure), but you can't really argue with the above. Boomin seems to have been the best thing that ever happened to OTM, giving it a boost, extra credibility and allowing it to shake off the feeling of being the third portal in a group of three.

From: Algarve Investor 08 June 2021 12:11 PM

You have to admire their persistence, and their almost desperation to succeed, but it just seems like they are failing to cut through in any discernible way. Reinventing YouTube - what does that even mean? Partnering with an influencer whose audience are too young to buy and sell homes in order to seem relevant and down with the kids? Does all smack a bit of desperation, I'm afraid. Maybe those who have signed up are getting great results, but I get the impression Boomin's offering a solution - yet another portal - that no-one really wanted. It looks the same as OTM, Rightmove and Zoopla, and I can see no USP or point of difference.

From: Algarve Investor 03 June 2021 09:39 AM

Very sad. So young as well. RIP.

From: Algarve Investor 02 June 2021 10:06 AM

Dreadful name. Is it owned by Danny Dyer?

From: Algarve Investor 26 May 2021 10:50 AM

Hmm, wasn't it made explicit that there was no link between Boomin and Agents Together, and that any talk of AT being a shield against criticism for the Bruce brothers' new project was total nonsense? That now seems more than a little suspect - even more so than before.

From: Algarve Investor 24 May 2021 09:41 AM

Foxtons has always had no shame - it's their whole USP - but this really takes the biscuit. Sticks in the craw that he gets such a high bonus when they've used taxpayer cash to tide themselves over recently. Foxtons should take a leaf out of Belvoir's book and pay back what they received. It's not exactly like the company is struggling to survive. A fair old shareholder rebellion, but I wish it had been larger. As the ESL has shown in recent days, the tolerance for the fat cats in these times is very low. Being out of touch and elitist is not a good look.

From: Algarve Investor 22 April 2021 17:13 PM

An absolute joke and a disgrace. There's a strong argument that no-one in agency should be receiving such a huge bonus, even less during a pandemic, even less in a company which has taken full advantage of the furlough scheme and taxpayer subsidy. I know Foxtons have built their whole reputation off being shameless and Marmite, but this leaves a bad taste in the mouth. Maybe they're keen to wrestle back the mantle of property company everyone loves to hate from Purpblebricks and Boomin.

From: Algarve Investor 15 April 2021 09:40 AM

Wouldn't say it was particularly subtle and seems to me to be closer to blue than purple. I really didn't like it at first, and thought it was an assault on the eyes, but it has somewhat grown on me. Is still a bit brash and in-yer-face, which is maybe what they're going for to ward off Boomin.

From: Algarve Investor 15 April 2021 09:38 AM

Either way it's pretty shifty!

From: Algarve Investor 07 April 2021 10:38 AM

A world of difference between wanting to attract useful foreign investment and then the Buy to Leave brigade. Obviously not all super-rich overseas investors lock up and leave or sit on their empty investment property in London as it rockets in value, but I imagine a lot do. What use is that investment if it's tied up in a luxury property in Nine Elms or Mayfair, not being rented out, not being used as an Airbnb? The investor is contributing nothing to the local area or the local economy, either.

From: Algarve Investor 01 April 2021 16:55 PM

I mean, it all looks very slick and professional and from my little play around just now, seems to work OK. But it doesn't seem to offer anything different to RM, Zoopla or OnTheMarket. I can't see what's next generation about it? The secret properties thing is maybe a USP, but just seems a way of getting people to log-in/register, which could annoy casual browsers. It certainly looks classier than imagined - I quite like the colour scheme and layout - but it just doesn't seem to bring anything new to the table.

From: Algarve Investor 01 April 2021 10:08 AM

They've got to be seen to do something, given they seem to have just been coasting along, not really having any impact, for a long time. They've had their thunder stolen by Boomin and can't even claim to be the newest kids on the block anymore. OTM is a decent third portal, nothing more. And has made Zoopla and RM stronger, the total opposite of what it intended. Will be interesting to see how it fares with the launch of Boomin.

From: Algarve Investor 31 March 2021 12:27 PM

A last throw of the dice from OTM with Boomin on the horizon?

From: Algarve Investor 31 March 2021 12:23 PM

Reminded me very much of Purplebricks and Yopa's efforts - had that same tone. Not dissimilar to Rightmove and Zoopla, either. Nothing really to differentiate it other than having Brian Cox (not that one) on board, who is a real high-level name and must have cost a fortune to get on board.

From: Algarve Investor 31 March 2021 10:14 AM

Whoops. Crowdfunding seemed to have its moment in the sun about five years ago and has been on a downward spiral ever since.

From: Algarve Investor 30 March 2021 10:36 AM

In the rarefied market of PCL, where homes go for £1.2m and often much, much more, I imagine they play by their own rules. Although, having said that, with the way prices have gone in London lately, £1.2m probably wouldn't get you much more than a fairly mundane three-bed semi in an OK suburb of the capital.

From: Algarve Investor 29 March 2021 10:05 AM

Emoov! Blimey. There's a blast from the past. I didn't even realise it was still going in its new form, it's made such little impact.

From: Algarve Investor 26 March 2021 12:22 PM

Perhaps. But so many senior people leaving their roles in such a short space of time usually smacks of something more sinister. It's dishonest to day otherwise. Particularly as it seems pretty certain that PM have used NDAs to hush up those who have left. Why do that if everything is fine and dandy?

From: Algarve Investor 25 March 2021 12:32 PM

Propertymark seems a bit like Rightmove - many of its member agents seem to hate it, but remain with it regardless. Bizarre. Agree that the comments about there not being a crisis are wide of the mark. That number of senior figures leaving in such a short space of time can only mean something is very wrong.

From: Algarve Investor 25 March 2021 10:12 AM

The government does it all the time and gets away with it, too!

From: Algarve Investor 24 March 2021 15:13 PM

Do we believe Countryside and Taylor Wimpey that they've sold no homes with doubling ground rents for many years? I'm sceptical, given how ingrained the practice was and how it only really came to light in 2017-18 with the breaking of the leasehold scandal. Good to see the CMA has finally found its teeth, at any rate. The biggest developers have certainly been guilty of greed in recent years - the controversial bonus/pay packet of the head of Persimmon tells us that much - and it's only right that such practices as doubling ground rent are clamped down, as it seems leasehold reform from the government is still some way off in reality. Plenty of warm words, but limited parliamentary time and freeholder backlash will slow things down.

From: Algarve Investor 22 March 2021 09:53 AM

I'm still amazed PB got Team GB on board. It's a massive coup, even if momentum stalled when the Olympics were pushed back last year. The adverts are funny and self-effacing, but you dread to wonder what it is costing PB, who haven't exactly been doing wonders business-wise in recent months and years.

From: Algarve Investor 18 March 2021 10:56 AM

Oh dear. Bit Big Brothery that they were being filmed, with audio too, while in the house, but still a disastrous PR moment for a brand that I understand is pretty well-respected and liked in those parts. Maybe a better course of action would have been more upfront with the vendor in saying that this home needs to be improved and tidied up to get sold, rather than slagging off the home behind their back in a very unprofessional manner. Sometimes a bit of honesty is needed, rather than the usual agent spiel when they think something else entirely.

From: Algarve Investor 18 March 2021 10:51 AM

Absolutely they should. If you want a transparent, trustworthy industry, NDAs are not conducive to that. I'm sure there are times when they are necessary, but as we've seen in recent years with many high-profile scandals, they are often used to muzzle people and protect the powerful and privileged. It baffles me how Propertymark thinks silence is the best answer here; while that happens the brand just continues to be tarnished. When five senior figures leave in a matter of weeks, something must be seriously wrong or rotten with that organisation. It's also inexcusable that developers are using it to get out of being honest with buyers and investors. In part, at least, this must have caused issues with the leasehold and cladding scandals. It is a disgrace and needs to be changed. NDAs are effectively a form of bribery, preventing people from ever speaking out by saying they'll be sued if they do, and lose their payout. Most people are going to want to take the money and keep their counsel in that case. The world of NDAs is murky and should be one the industry is doing everything it can to avoid, rather than encourage.

From: Algarve Investor 15 March 2021 10:32 AM

I think they may now be too big to fail - aka a brand like McDonald's, Coca Cola, Apple, Microsoft or even the royal family - who could do anything and be involved in any type of scandal and still get away with it. They are so far away the dominant portal, and it would take considerable mass and collective action for that to change. Didn't work out so great with OTM, and it seems like Boomin can't win agents over, either, because of the Bruce brothers. Even if there was a mass departure from agents, I think RM would seek to cut out the agent middleman and allow sellers to list directly.

From: Algarve Investor 11 March 2021 09:48 AM

Sometimes you have to wonder who is making the decisions at these big companies. Or if they are just deliberately trying to annoy their member base. Two basic rules - if it ain't broke, don't fix it. And if you do fix, tell people about it first, including your own stuff. Very poor from Rightmove, especially as it seems this sort of data protection isn't a legal requirement. So why have they done it?

From: Algarve Investor 11 March 2021 09:42 AM

What a mess. Dictionary definition of a troubled organisation: Propertymark. Like the Queen's policy to say and do nothing, this has major downsides in a scandal as it just allows people to speculate and assume. Propertymark think it's controlling the issue by sweeping it under the carpet and pretending nothing's wrong, but it's achieving quite the opposite. It's just making people more suspicious that something is very rotten. You don't have this number of senior people leaving an organisation in such a short space of time without some serious issues causing it. Propertymark would be better off being honest and admitting there are systemic issues and starting again, rather than allegedly gagging people with confidentiality agreements. NAEA and ARLA would have been better off remaining separate organisations - what has Propertymark really achieved since 2017 that the individual organisations wouldn't have done?

From: Algarve Investor 10 March 2021 09:36 AM

The 100 technology staff doing wonders there!

From: Algarve Investor 08 March 2021 10:13 AM

Finally a date! I'm still amazed at the short memories of some agents who are now backing a portal run by a pair who endlessly slagged off the traditional agency model for years. Is the hatred for Rightmove that deep? I expect it will be OTM, and not Rightmove or Zoopla, who will be the biggest losers from this launch. RM and Zoopla will continue to be 1 and 2 as before.

From: Algarve Investor 08 March 2021 10:12 AM

Excellent initiative. More like this, please. Innovative, forward-thinking, good for the environment, and good PR reputationally speaking. Win-win-win all round. Well done, LRG and Kremer.

From: Algarve Investor 05 March 2021 10:44 AM

That's what was said 6 years ago, though, and it never happened. Are you suggesting a strategic alliance between OTM and Boomin, as has been speculated? That is the only way they'll have the brand power and financial might to take the fight to Rightmove and Zoopla, but I still think it's doomed to failure because of the brand awareness of the big two, which are synonymous with property and the most famous brand names in the sector. Ask the average man or woman on the street to name two property brands and I'd bet my bottom dollar that 99.9% of them would come back with RM and Zoopla. While that is the case, I can't see them ever being devastated as you say.

From: Algarve Investor 04 March 2021 10:57 AM

In my eyes, OTM is very much the third portal and has been treading water for a long time. It's not been a total disaster, as it seemed it might be for a while after it first launched, but neither has it reinvented the wheel or made the impact it said it would. All sorts of bold claims were made by Springer and others which never came to fruition. OTM made Rightmove stronger and Zoopla has bounced back remarkably after a period when it looked in some trouble. Now there are a load of new portals on the scene, with Boomin the most high-profile, which will further crowd the market and make it harder for OTM to get heard/have any presence. Maybe they need a house price index or something to get their name out there. Despite many high-profile advertising campaigns, they haven't cut through in any way. You don't hear people, when talking about buying or selling a property, saying "Oh yeah, I search on Rightmove, Zoopla and OnTheMarket", they stop after the first two. OTM launched with the express aim of becoming the number 1 portal. In that it's clearly failed. It seems to have become a solid number 3, and will be interesting to see if Boomin eats away at that share when (if) it finally launches, or whether they collaborate in some way as rumoured.

From: Algarve Investor 04 March 2021 09:32 AM

None of those are anywhere near as bad or as silly as WiggyWam. Zoopla, Google, Twitter, etc, might not mean much, but they have become distinctive names which roll off the tongue. WiggyWam just sounds a bit ridiculous, to be honest - used deliberately to try and make them stand out and be provocative. But it just doesn't have the same impact.

From: Algarve Investor 03 March 2021 14:51 PM

Rightmove's biggest attraction and draw is its brand awareness. Everyone in the UK - even those with not an ounce of interest in property or buying/selling/letting/renting a house - will know what Rightmove is. The same goes for Zoopla, to a slightly lesser extent. OTM has never been able to break through in the same way in the last five years. Purplebricks, to be fair to the Bruce brothers, did manage that public breakthrough, but I somehow doubt Boomin will no matter how much money they chuck at it. They're better off concentrating on Agents Together, which seems to be going great guns and answers an actual need in the industry.

From: Algarve Investor 26 February 2021 10:12 AM

Not to mention more than 20 years of history and, whether you like it or not, plenty of success. According to research, Boomin can't even get half of agents on board before it's even launched. It can't be judged properly until it's properly launched, but we still have no idea when that'll be.

From: Algarve Investor 26 February 2021 10:08 AM

'Boomin will launch shortly' will still be appearing in press releases in February 2022, won't it? This seems to be the most tortuous, long-drawn out launch this side of Crossrail.

From: Algarve Investor 26 February 2021 10:07 AM

There has to be a tapering. I think it's absolutely right that there is an extension to avoid a cliff-edge, but as others have said you risk simply creating a new one. Would seem more sensible to say anyone already involved in a transaction by the time Sunak announces the measure next week can use the stamp duty holiday whenever they complete, but anyone who starts their transaction after March 3 can't. Or something along those lines.

From: Algarve Investor 24 February 2021 10:52 AM

So is it actually launched or ready to launch? They seem like very different things.

From: Algarve Investor 23 February 2021 09:45 AM

Are we heading for a market of mega agencies? Connells Countrywide, TPFG/Hunters, now Foxtons/Douglas & Gordon. Who next? Maybe the biggest of the mergers is still to come with Boomin/OTM. Or is that all just rumour and conjecture. Does seem mightily strange that Boomin still hasn't launched. In the immortal words of Nirvana, sort of, 'what the hell are they waiting for?'

From: Algarve Investor 22 February 2021 15:39 PM

Is it possible to be an ex-Boomin star already? When is that portal ever going to launch?

From: Algarve Investor 19 February 2021 12:10 PM

I agree it's too simplistic to blame Alison Platt - her tenure was a disaster, but the problems existed before she took over and have existed since she left her post a good while ago now. The company hasn't recovered or gone back to basics, it's lurched from one crisis to another and one boardroom clear-out to the next. They went too big and too broad, and tried to stick their finger in way too many different pies, and that has bitten them in the end. Stick to what you know best.

From: Algarve Investor 15 February 2021 17:51 PM

Interesting. Will it be Connells Countrywide, as looks quite neat in the picture above, or will the CW name be ditched completely? Definitely a far more sensible deal than CW falling entirely into the hands of private equity firms, who no doubt would have sucked as much as possible out of a dying brand - much like Debenhams, BHS, etc. At least with the Connells takeover, the Countrywide brands have a chance of recovering. A great deal from Connells, who seem like a pretty stand-up company and one of the few successful examples of an agency being owned by a building society.

From: Algarve Investor 15 February 2021 16:21 PM

I get the concerns, but seems very strange that Zoopla and Rightmove would both be sucked in by it. Whatever you think of them, they both tend to be quite savvy and risk-averse, avoiding any really major scandals. They must know something that we don't, because as others have stated it does sound decidedly dodgy.

From: Algarve Investor 15 February 2021 11:29 AM

Maybe because of a potentially deadly disease swirling around the home if the viewing wasn't carried out correctly? I'm not sure why she agreed to it in the first place, but feels like she may have pressured into it, but I wouldn't feel too happy with numerous back-to-back viewings taking place in a home I was living in right now. Or viewings 15 minutes apart, which is effectively back-to-back. People need to be sensible right now and this Yopa agent wasn't. He's been deservedly called out for it.

From: Algarve Investor 12 February 2021 09:37 AM

I believe it's only England for now.

From: Algarve Investor 10 February 2021 13:41 PM

Should have happened years ago. A government shamed into action is never a good look. Hopefully this will give some comfort to some of those who have been affected. The devil, as always, will be in the detail.

From: Algarve Investor 10 February 2021 12:57 PM

Well done, Phil. A very worthy cause and a great interview. As the commenter above says, this is a national scandal and the lack of action from the government so far has been nothing sort of shocking. As the vaccine rollout has shown, the state can move very fast to make something happen, and there is no reason why the same couldn't have happened in the immediate aftermath of Grenfell. Instead, we have fire watches (paid for by leaseholders, sometimes at extortionate costs) and unsellable homes causing high levels of stress. Homes with dangerous or unsafe cladding have a property value of virtually nil at the moment. It's outrageous. With the cladding scandal, the government has taken the slow, dithering approach it has also taken with lockdowns, PPE, testing, quarantining and controlling the borders. Apparently Jenrick is actually supposed to turn up and do some work today, announcing something about the scandal. So hopefully some greater clarity after that.

From: Algarve Investor 10 February 2021 10:11 AM

Still no date. Interesting. I wonder what they are waiting for? Is the OTM merger talk more than just tittle-tattle? That company knows how to make bad and good videos - the 'OnTheMarket' effort to the tune of Chas & Dave was woeful, but it has done better ones in the past. Maybe they could be in charge of marketing in the new Boomin OTM tie-up.

From: Algarve Investor 05 February 2021 09:56 AM

Well done. In that picture above, he looks uncannily like the guy who played DI Lestrade in the BBC's Sherlock series!

From: Algarve Investor 04 February 2021 10:22 AM

The bigger surprise is that they actually found 10 online agencies to rank! Have never heard of a fair few of them and surely no-one's counting Emoov as a serious agency anymore?

From: Algarve Investor 02 February 2021 09:29 AM

Waste of time Jesse Norman being there. He read everything off a screen and offered absolutely nothing. They'd have been better off just asking the Chair to read out a statement. Totally ineffectual, totally pointless. He'd been given a pre-rehearsed script to waffle through, and then he was keen to get away as fast as possible. If he can't comment on fiscal matters outside of fiscal events, what was the point in him turning up? All very strange. Carried out well virtually, though, which just goes to show these petition debates can go ahead even in pandemic times. Someone needs to have a word with JRM. Although, if you end up learning as little as we did today, maybe there's little point to them anyway!

From: Algarve Investor 01 February 2021 17:41 PM

We're not learning much here from Jesse Norman - he's just telling us what we already know and offering very little actual insight.

From: Algarve Investor 01 February 2021 17:32 PM

The bigger question is...when will it actually be launched? Seems to have been in the offing for ages. Early next year suggests January, February at the latest to me. If it doesn't appear next month, I think legitimate questions could start to be asked. It could start to turn into the property version of Crossrail, forever being pushed back and back. What is the hold-up? What is the delay? To be fair to them, Agents Together seems to be doing a great job for agents during lockdown, even if I do think it was at least in part a cynical ploy to soften agents before the introduction of Boomin. Maybe the merger rumours with OTM hold some weight?

From: Algarve Investor 29 January 2021 09:35 AM

Oh wait, I've just seen they've already raised £700,000 - missed that bit! Madness.

From: Algarve Investor 28 January 2021 13:36 PM

easyProperty - the eternally failing brand which refuses to die. If they even get close to £800,000, I'll be amazed. You really would have to be a mug to invest in a brand that is less significant now than when it launched, and is only effective at PR - not at actually helping to get homes sold, bought, let, etc.

From: Algarve Investor 28 January 2021 13:35 PM

Good article, James. I've enjoyed your insight throughout the years, and it's definitely a topic that deserves covering. Like you've said before, it may now be a market that is too inflated and full, but at the same time the pandemic has made the need and desire for digital solutions greater than ever. I wish you well in your future endeavours.

From: Algarve Investor 27 January 2021 09:48 AM

Much too sensible, Vilesh. It will never catch on.

From: Algarve Investor 26 January 2021 13:49 PM

Interesting. With the growing pressure on the government, it seems almost certain they will announce some sort of extension or tapering off. At the very least, it seems likely they will say to everyone who is in the process of completing their transaction before the deadline hits that they can still benefit if they don't complete on time. That would seem sensible. I've never known pressure placed on the government to such an extent from all sides - ordinary buyers and sellers, agents, lenders, conveyancers, surveyors, MPs, etc - so it would be remarkable if they didn't take heed. Expect an announcement from Sunak on March 3.

From: Algarve Investor 26 January 2021 12:54 PM

All for rewarding people for their hard work, but offering 5-star trips to Dubai at the moment seems a bit tasteless. Plus, look at the stick (deserved) that footballers, football clubs and so-called 'influencers' have got from heading there on 'work' or warm weather training trips. What is this obsession with Dubai anyway? Always seems like an utterly soulless place to me, with a long old flight to get there. Seems a little bit out of touch to me to be offering stuff like this at the present time, even if it is an incentive.

From: Algarve Investor 25 January 2021 11:22 AM

I think he comes across well, and as Richard says above, it's easy to knock the NAEA and Propertymark more generally, but they do seem to do plenty of good work and £250 a year (if I heard that right) does sound like a bit of a bargain. The toothless and reactive rather than proactive criticisms probably hold some muster, but as we've seen with RICS recently - which has always been viewed as pretty squeaky clean and the barometer for all other trade bodies - even the most respected trade bodies have their problems.

From: Algarve Investor 25 January 2021 10:05 AM

I guess my point is that a hard, fixed deadline (without any flexibility) inevitably causes problems, particularly when you're dealing with something as unpredictable as property transactions. What happens to those transactions started well before the stamp duty deadline, but unable to complete before then, perhaps through no fault of their own? Do they still benefit from the stamp duty savings? When does the cut-off point come in? It would have been good to have the parameters set out. The government could have said, if your transaction started before January 31, you will be eligible for the stamp duty holiday regardless of when the transaction completes. That way you don't get this mad rush which is going to see a lot of people angry and peed off - some 100,000 potentially, according to Rightmove.

From: Algarve Investor 22 January 2021 14:44 PM

I don't think anyone can deny it has sustained the market, although it would be interesting to see how the market fared without it, off the back of the post-first lockdown bounce. As usual with this government, though, there was no exit plan, just a hard cliff edge deadline which then causes all manner of problems afterwards. Just look at Brexit and all the many small issues that is now causing. I can see it being extended or tapered, even if JRM won't allow debates on it, so has the feel of another last-minute U-turn from Boris and co. They're good at that.

From: Algarve Investor 22 January 2021 10:02 AM

All seems to be falling apart for RICS - not as squeaky clean as we were led to believe.

From: Algarve Investor 22 January 2021 09:59 AM

Whatever happened to Trustpilot? Or AllAgents for that matter? You don't hear them mentioned anywhere near as much anymore. Maybe review sites, from a property perspective, are just out of fashion. I've always been dubious about their validity. If an agency has only glowing five-star reviews or, conversely, only damning one-star ones, I'm instantly suspicious.

From: Algarve Investor 21 January 2021 09:44 AM

@J Blackmore - they said the other day they would be introducing the Renters' Reform Bill 'very soon'. How soon? Will that be debated? And why can't these debates happen virtually, like much of day-to-day life at present? Is the system really so antiquated that it requires MPs from all over the country to trek into Westminster every time there's a debate, even during a pandemic. Seems so backwards. Also, with the property market still functioning, it seems strange that no discussion be allowed about it. Surely they must have been following the stamp duty petition and its progress? There is an argument for closing the market completely, while the pandemic is at its worst and measures at their strictest, but they're not doing that. So seems strange to me to then blame the virus on debates not being held, when surely this could be done remotely? JRM was very keen for MPs to make the journey into Westminster not so long ago, by refusing to allow virtual/proxy votes. Now he's changed his tune.

From: Algarve Investor 20 January 2021 14:38 PM

Sorry, but that's nonsense. Why can't debates take place virtually? This is the 21st century and the technology is in place for it. We've seen it work perfectly well for PMQs and select committees. There is no reason for MPs from across the country to traipse in, they could do it from the comfort of their homes if the government allowed. It's the government's choice to keep the housing market open, because they know it's good for the economy, and it's their choice to end the stamp duty holiday with a hard cliff edge. They can't have it both ways. If you're going to keep the market open - which many argue shouldn't be the case - you can't then be surprised when people discuss property issues and the biggest talking point of the day, besides Covid, is the stamp duty holiday. And it smacks of ignoring democracy when you refuse to debate an issue which has triggered the threshold of debate and which is important to many people, if indeed the above report is true.

From: Algarve Investor 20 January 2021 09:57 AM

It wouldn't surprise me. He's transported from the Victorian era and would still have kids up chimneys and down mines if he could. A ridiculous parody of a man who shouldn't be anywhere near the position he is, in any right-thinking country. His comments on Grenfell, amongst other things, should have meant he was long ago lost from the public eye.

From: Algarve Investor 20 January 2021 09:53 AM

Maybe shows she's a much savvier communicator than dithering, can't make up his mind Boris, who is always at least three steps behind everyone else. Which is funny because normally his tactic is to see which way the crowd is going, jump in front of it, and then say 'follow me!'. It's what he did with Brexit, which he only half-believed in and which helped him to write outrageous articles for the Telegraph for many years. The government still can't give any clarity over what constitutes a reasonable distance for exercise, and whether coffee constitutes a picnic. And now Boris himself is under pressure to explain a seven-mile cycle ride to Stratford! Do as I say, not as I do. I'm not totally sold on Starmer, but he and Sturgeon are light years ahead of Boris and his Cabinet of incompetents.

From: Algarve Investor 11 January 2021 15:19 PM

Surely a stamp duty extension would help, in preventing the surge of transactions between now and March? If people were reassured they could still take advantage of the stamp duty holiday until March next year, say, there wouldn't be this massive rush to get things over the line before the end of March, which must in part be leading to more viewings. Most people will want to visit the home in person - very few will buy totally sight unseen - so it seems inevitable that if the housing market remains open but there are no actual viewings, things will slow down a fair bit as those who have already viewed/made up their minds progress their house sales, while others hold out. There seems to be issues with people still mixing too much, but I imagine in a controlled environment like a Covid-secure viewing, the risks are pretty low and managed. Still, if people aren't comfortable/happy doing them, it should be held off until March/April time when the worst months of the pandemic are over.

From: Algarve Investor 11 January 2021 15:14 PM

Boomin. Launchin' in a town or city near you...soon...at some point...maybe.

From: Algarve Investor 11 January 2021 12:09 PM

Interesting. I always automatically associate RICS with good practice, trustworthiness and stability, but if these accusations have any merit - as they appear to do - it could cast a cloud over an institution which has mostly been seen as a force for good, and one of the most trusted, if not the most trusted, in the property industry.

From: Algarve Investor 11 January 2021 10:37 AM

What's the iconic old saying, made famous by the Meatloaf song? Ah, yes, out of the frying pan and into the fire springs to mind! Commend his ambition, but if he thinks he's going to achieve it with easyProperty he is sadly mistaken. And a little deluded. For all its critics, Purpblebricks is streets ahead of easyProperty.

From: Algarve Investor 05 January 2021 09:39 AM

I wouldn't trust a word Matt Hancock or this government says. If they say it isn't happening, or doesn't exist, you can bet your bottom dollar that it will be happening or existing in a few days time. I definitely wouldn't take him at his word.

From: Algarve Investor 04 January 2021 10:18 AM

An excellent video - very well-made. Kudos to whoever produced this at Breckon & Breckon (so good they named it twice!).

From: Algarve Investor 21 December 2020 10:30 AM

This government is prone to last-minute decisions and U-turns - just look at Covid and Brexit. Originally, we weren't going to lockdown, then we did. Originally, the furlough scheme was absolutely going to end, then it wasn't. Originally, there was going to be no second national lockdown, then there was. Then they decided on the ill-thought out five-day Christmas window at a time of rising infections, now they seem to be backtracking on that in all but name. The list of U-turns is long and extensive and speaks of a government which doesn't really have a clue, led by the arch ditherer who doesn't like making tough decisions or upsetting people. Only when his hand is forced, does he act. In this case, I don't think there will be a U-turn, but if the pressure continues to build, the government may be forced to act. Unfortunately, Jenrick is supposedly in charge of MHCLG and he couldn't organise the proverbial in a brewery. Pincher at least seems a little better, but I wouldn't bet on the government having any kind of long-term plan or strategy, as it's so ably proved with Covid and Brexit.

From: Algarve Investor 17 December 2020 09:53 AM

Agreed - I think it might be more to do with the fact that the stamp duty holiday has triggered a tsunami of demand, activity and then transactions to work through the system - a system which wasn't exactly functioning at full-speed before. It is still an antiquated system, despite the best efforts of the Land Registry and others to digitise it, and make it more efficient. I think the badly thought out holiday - a very hard ending on the horizon, no wriggle room, no flexibility, no tapering - is not helping matters by inflating demand and transactions to an unsustainable level. Like the Eat Out to Help Out scheme, a short-term, headline-grabbing measure that could end up doing more harm than good.

From: Algarve Investor 14 December 2020 16:31 PM

A startling lack of empathy here - I just hope none of you ever experience a serious mental health illness or severe levels of stress. There's nothing weak about it, and mental health issues are certainly not just stress - although that is a leading factor in it. Why do we assume that conveyancers are just robots without feelings, families or troubles? And why must everything be compared to the war? It doesn't make you a snowflake - whatever that nonsense word means - to be stressed out by an overload of work. It's like those who say famous sportspeople or celebrities aren't allowed to be unhappy or complain, because they have nothing to complain or be unhappy about. But mental health issues don't discriminate. The pandemic has shown the importance of good mental health, and a good work/life balance is absolutely part of that. We should all be doing less, with more tech at our disposal, not working ourselves to the bone because that's the way it's always been done.

From: Algarve Investor 14 December 2020 12:23 PM

Could this be like Crossrail, where the launch date just keeps getting put back and back until you get to the point where you think it will never actually officially launch. Early 2021 is very vague, but I got the impression that the machinery and infrastructure was already in place and it was all good to go bar the shouting.

From: Algarve Investor 11 December 2020 09:44 AM

And so it begins...

From: Algarve Investor 11 December 2020 09:40 AM

It's like the interminable Brexit negotiations - will they? Won't they? All sides holding out, brinkmanship, contradictory briefings. I think CW need to make a decision either way for a bit of clarity and certainty, to give themselves even half a chance of rebuilding and repairing the damage of the last few years, which has left the brand tainted. It's not been particularly satisfying to see the company's near-endless turmoil, pretty much since Platt took over and ever since she left, too.

From: Algarve Investor 04 December 2020 14:20 PM

The videos are always very well-made by the RedDoor team. Nice work. A huge amount of effort always put in, and professional levels of editing and videography.

From: Algarve Investor 04 December 2020 11:14 AM

Agreed. Green is an odious individual and very much the unacceptable face of capitalism (see also Mike Ashley). He's almost Dickensian in his grotesqueness and greed. I have not one iota of sympathy for the man himself, given the BHS fiasco and the issues he's had with pension black holes - not to mention the numerous stories about his inappropriate behaviour - but you can't help but feel for the thousands of staff that could lose their jobs both in the Arcadia Group and Debenhams. Hopefully new roles can be found for them if the stores head online rather than reopening for the long-term. Green didn't move with the times - didn't invest in online like Boohoo and Asos have (albeit those companies have issues of their own to contend with - and Covid was just the final straw. Arcadia had been slowly dying for years. Expect more major names to go to the wall in the coming months and years, as the high street continues to decline, with more companies also switching to property - like John Lewis - to offset the negative financial impact of this. I don't think the same thing will happen with estate agents, as they can afford to be far more flexible and have shown that they can cope well with operating from home or with a skeleton staff. I think the hybrid approach will be king - but a genuinely hybrid approach, not an online agency claiming to be hybrid while offering very low fees. I'm sure many agencies are considering whether it's worth it to have a fixed base, with all the costs attached, but then again a high street presence and a presence in the community are crucial for many local independents, so I doubt will see huge changes.

From: Algarve Investor 01 December 2020 09:45 AM

Hear hear! An excellent and thorough run-through of the situation. Boomin clearly has something, as PB did/do - plenty of financial clout behind them, savvy marketing and PR, a distinctive brand that gets people talking - but the hailing of them as the saviour of agents just doesn't seem to tally with what went before, and the continuing dominance of RM, and to a lesser extent Zoopla.

From: Algarve Investor 27 November 2020 11:50 AM

Isn't this the same team behind Spectre? Whatever happened to them?

From: Algarve Investor 25 November 2020 09:14 AM

This is all very well, but aren't most of those agencies just still going to use Zoopla, Rightmove, OnTheMarket, Homesearch, etc, as well. From what I've seen, a number of agencies - even the smaller ones - are using a wide range of portals to generate leads. So this excitement that Boomin - like others before it - will lead to the destruction of Rightmove just doesn't bear witness. They're getting huge amounts of press, as you'd expect from a Bruce brothers vehicle, and they clearly have strong investment and are very good at marketing a brand and getting a name out there, but I am still going to wait to see what happens. I remember the same happening with OTM, which positioned itself as a disruptor for quite some time until it settled into its position as the third portal - successful, but not the game-changer it promised to be.

From: Algarve Investor 25 November 2020 09:12 AM

The new name isn't great - many people, when they hear Strike, will probably think of the JK Rowling book and subsequent BBC series. Type it on Google and nearly all the results are about that. Housesimple was a more distinctive name in my book. The modus operandi of the online agency model is clear - criticise high street agents to try and get the public on side and say we're not like them (estate agents). Given the general unpopularity of agents among the public (despite the excellent work many of them do), you could argue it's a wise strategy, but it's clearly not working given online agency only accounts for a small fraction of the overall market, and most of that is accounted for by a sinking Purplebricks.

From: Algarve Investor 06 November 2020 15:07 PM

It's hardly an advert, it seems to me to be implicitly inviting criticism of Strike and on the side of high street agents.

From: Algarve Investor 06 November 2020 15:01 PM

I guess many people are rightly sceptical about a vehicle being led by the Bruce brothers, who have spent the last five or six years demonising the agency profession. Plus, it all went a bit wrong for them there. Also, the rather blatant piggybacking of Boomin off the charity initiative that we don't seem to be hearing much about anymore. The last attempt to take down Rightmove didn't work out well, did it? A few months back, we were being told that Homesearch and the other challenger portals would be offering a new way of doing things, with the SayNoToRightmove gaining some impressive traction for a time. Now we're being told Boomin is the best thing since sliced bread, despite no evidence to back this up. It might be a great success, but for now I will remain very sceptical about the chances of any new portal - particularly one backed by founders with a somewhat chequered past when it comes to long-term success.

From: Algarve Investor 05 November 2020 12:26 PM

easyProperty? Haha - the online agency which will just not die. I'm honestly amazed it's still in business. How many homes does it actually sell or let per year?

From: Algarve Investor 05 November 2020 12:21 PM

What's the betting Boomin won't be boomin' this time next year?

From: Algarve Investor 02 November 2020 14:45 PM

Agreed. Aren't most first-time buyers already covered by the existing exemption on stamp duty, for homes worth up to £300,000, brought in by Hammond a few years ago? This new stamp duty holiday has been helping the downsizers and second steppers more than first-time buyers.

From: Algarve Investor 28 October 2020 09:40 AM

An excellent signing, if that's the right word. An experienced hand and someone who seemed to be well-respected while at ARLA.

From: Algarve Investor 28 October 2020 09:37 AM

If you think no deal will impact the EU27 more than the UK, you are very sadly mistaken. I'm not sure you quite understand what being on WTO rules means - huge tariffs for a wide range of businesses; further uncertainty on top of Covid. And a deal will have to be done at some point, won't it? The EU is our biggest trading partner, and any number of new trade deals with Japan, the US and Australia won't be enough to make up for that.

From: Algarve Investor 23 October 2020 10:21 AM

Brand Rishi takes credit for an awful lot. An undoubtedly smooth and slick operator, but his big challenge will now come as he tries to steer the UK through the worst recession in modern times with the possibility of a no-deal Brexit to compound things. As others have said, it's easy to be popular when you're giving away money, but his star has fallen somewhat with the realisation that the Eat Out to Help Out scheme probably had a direct connection to the virus spreading more quickly again, and also his late and delayed reaction to helping those in tiers 2 and 3. He's clearly positioning himself for the top job, and is far more capable than the current joker we have in charge, but we also need to remember that he's Cummings man, and has previously been an avid supporter of Boris. Where Javid was unwilling to have advisers chosen for him, and a closer connection between No 10 and the Treasury, Sunak was more than happy to play ball to get his big promotion.

From: Algarve Investor 23 October 2020 09:14 AM

Bully for you, but for others that might not be the case. Also strikes me that the biggest snowflakes are often the ones who are calling other people snowflakes. The sort of people who actively refuse to wear a mask to help prevent the spread of a deadly virus because it's a bit uncomfortable, or those who rail against millennials for daring to want the same quality of life as their parents. Let's look at an example quickly. A seller pulls out at the last minute before exchange, leaving the buyer without a home to purchase and a load of already paid costs that they can't recover - are you telling me they don't deserve to be a tiny bit stressed? It's nothing to do with life being easy - people know it isn't - but equally anything that can be done to improve the mental health of people, particularly at a time of a pandemic, should be fully welcomed in my view. Mindfulness might have been viewed as hippy dippy nonsense a few years ago, but its benefits are now widely known. People who suffered shellshock (or what we now know as PTSD) in the war you talk about could have done with a bit of mindfulness and far better awareness of mental issues in the aftermath. It might have helped to prevent a host of social issues in the decades after as people clammed up or turned to drink to cope with the horrors they'd seen.

From: Algarve Investor 22 October 2020 13:13 PM

But that's not comparing like for like. You're taking a very extreme situation to minimise the stress involved with a house sale or purchase, which can be very high thanks to the sums of money involved, the delays, the amount of paperwork that is still required. No-one's saying it's as stressful as being in a war, or suffering through the Blitz, or even dealing with a deadly pandemic which is affecting both health and wealth, but that doesn't mean it's not still stressful. Just like losing a job, a divorce or some other traumatic life event. I'm sorry, but moving house is a big deal - and should be treated as such. If it's not taken seriously, that causes all sorts of problems for all parties. We shouldn't minimise the stress involved just because it's not as stressful as being on the frontline of a war or global health pandemic. It's like saying none of us can be worried about Covid if we don't have it or aren't facing it head-on as a frontline worker. It doesn't add up. I'm far from PB's biggest fan, but I think this is actually a good initiative.

From: Algarve Investor 22 October 2020 09:36 AM

Will Countrywide ever not be troubled again? Seems unlikely. Everything I read about the group is to do with emergency investment or salvage. I can't see this latest plan working out well. When private equity gets involved, it's never normally a good thing.

From: Algarve Investor 22 October 2020 09:30 AM

From: Algarve Investor 21 October 2020 12:15 PM

This'll all end in tears, I fear. And it'll be the smaller regional agents who lose out. Boomin is pouncing on anti-Rightmove sentiment in a very effective way, but I still don't get the logic behind hating Rightmove and then joining Boomin, run by the very people who did so much to disparage the traditional agent for the last five or six years.

From: Algarve Investor 21 October 2020 09:32 AM

Some impressive names there, it has to be said. But I will remain very sceptical until some concrete info is released on how the portal will actually work in practice. A lot of hot air and hype at the moment, but little substance.

From: Algarve Investor 16 October 2020 09:11 AM

PR stunt, maybe? easyProperty have form for it, after all.

From: Algarve Investor 15 October 2020 09:50 AM

Anyone with any sense would steer well clear of Boomin, given all the baggage involved.

From: Algarve Investor 12 October 2020 10:54 AM

You could argue the online model is now becoming dominant, because of coronavirus, but it's the traditional estate agency model which is leading the way on this. Because of Covid, all agents will have to become hybrids, whether they like it or not. And much of the conveyancing process will start to go that way, too, as life becomes ever more remote-based, cashless and paperless. There has already been a shift by some high-profile agents to a hub model - how many more will follow? Will there still be a need and demand for agent branches? Is it worth the overheads and costs? At the same time, people still prefer - nearly exclusively - to use traditional agents from their local area, but it's just likely this will continue to be done via Zoom, WhatsApp, virtual viewing technology and other PropTech in the future. The days of regular face-to-face contact, newspaper advertising, leaflet drops and big presences on high streets will soon be long gone, in my opinion, replaced with something much more dynamic and flexible. But some elements of traditional agency - the For Sale and To Let board, the in-person viewing experience (albeit Covid-safe) and a presence in the local community will remain.

From: Algarve Investor 07 October 2020 09:46 AM

easyProperty are a total irrelevance - it's basically a PR company which pipes up every so often and then hibernates again for a few months. There have been a spate of easyProp stories of late, expect that to die down again soon. I'm utterly amazed it's still going. It has something like 180 properties on its books and only 5 in London. Does anyone know of anyone who has used easyProperty to buy, sell, let or rent a home? There must be value in it for Brierley as a side company, because I can't see how they are making any money at all.

From: Algarve Investor 06 October 2020 15:01 PM

Still going? I'm amazed. If even the most successful part of the easy business - the airline - is struggling, what hope for a brand which failed time and time again to break through, despite what some would call tasteless PR stunts, brash advertising, tie-ups with GPEA and the Guild and several hundred relaunches.

From: Algarve Investor 29 September 2020 09:05 AM

The money is always there when they need it. Maybe they could stop spending billions on HS2 which, with the boom in remote working, suddenly loses one of its main reasons for being - cutting the commute costs between London, Birmingham and the great northern cities. They could also save a lot of money by not continuing to plan for a no-deal Brexit, but I won't open that can of worms again!

From: Algarve Investor 28 September 2020 15:16 PM

How is he still in post? It's remarkable. Teflon Rob they should call him. In any other government, he would have been long gone after the first Desmond scandal. But he's now managed to ride out four or five separate scandals to stay in post. The strangest thing is he's a very uninspiring figure who seems to offer a little, which begs the question why Johnson and co are protecting him from the chop so much. Then you remember he's an avid Brexiteer and a devoted Johnson acolyte. Plus the perfect yes man and stooge to help Tory donors get their developments through without paying what they owe. The links between the Jockey Club and senior Tories stinks. Not to mention the fact that Dido Harding, the apparent head of our 'world-beating' test and trace system, is also on the board of the Jockey Club, which is itself based in Matt Hancock's constituency. The amount of sleaze always goes up under a Tory government, so why should we even be surprised? This government's brazen disregard for the law - prorogation, Cummings' trip to Bishop's Castle, breaking international treaties - says it all.

From: Algarve Investor 25 September 2020 13:43 PM

Will it all end in tears like Purplebricks? I fear it will. For me, Boomin has been given far too easy a ride, and the support from SNTR is bizarre when PB have done more than Rightmove to trash the reputation of independent agents in the last few years.

From: Algarve Investor 25 September 2020 10:51 AM

I can't tell if you're being serious or not?

From: Algarve Investor 25 September 2020 10:50 AM

In a Cabinet of incompetents, he does stand out. Far more efficient and authoritative than the supposed PM, who aims for his hero Churchill but comes across more like the nodding Churchill dog. That said, Sunak is devoted to the Brexit and Johnson cause, which makes me question him more. Surely a sound fiscal mind like his understands the stupidity of a no deal Brexit at a time when the economy is already in the doldrums?

From: Algarve Investor 24 September 2020 13:04 PM

Virgin Media, Virgin Airways and Virgin train customers may disagree with that, Christopher! But yes, I take your point. Just seems a strange appointment when they had a ready-made person for the job in David Cox, who already knew the market inside out. Sometimes having outside voices can really help, but that's never worked out well in the property industry.

From: Algarve Investor 24 September 2020 11:39 AM

Interesting. No property experience? Is that really a wise move given the recent past with Countrywide and others? I think not.

From: Algarve Investor 24 September 2020 10:07 AM

This is very thin research from Rayner Personnel, who usually offer better than this.

From: Algarve Investor 23 September 2020 17:10 PM

It really is a terrible name on so many levels.

From: Algarve Investor 01 September 2020 09:49 AM

Hmm, seems a bit ironic that an anti-Rightmove group is now getting into bed with the Bruce brothers' new venture. Purpblebricks regularly laid into traditional agents during their tenure - they were, in fact, painting themselves as the antithesis to the high street model - and things ended disastrously for the Bruce brothers. As the comment above says, now they are suddenly being treated as allies. All very bizarre. PB, love them or loathe them, have spent years doing down the credibility of traditional agents. So I find it strange that a naffly named new portal and a charity initiative means all is now forgiven. Bruce seemed to have a bit of an easy ride of it in the Chris Watkin videos, so maybe money talks for all those who have previously been very critical of the brand.

From: Algarve Investor 27 August 2020 10:37 AM

For some reason, I read that in the voice of David Brent. If that's what you were going for, nicely played. If not, apologies!

From: Algarve Investor 26 August 2020 09:40 AM

Great ideas. Any interactions I've had with Johns&Co in the past have always been positive. Some positive and sensible moves here.

From: Algarve Investor 13 August 2020 09:20 AM

@Property Pundit - I stand to be corrected by those who know better, but I believe the 2008 crash caused the property market to crash, leading to a drastic fall in prices and many being left in negative equity. The same hasn't happened this time. I think we need to wait a while to judge, given the full economic effects of the pandemic have yet to rear their head, but prices have largely held up so far and people seem keen to move - for more space, for a garden, to escape the city. The banking crash, as devastating as it was, didn't lead to a change in the way in which we live - although it should have. The pandemic will. There will be a massive long-term rise in home-working, a further decline of the high street, a new, more flexible, more dynamic workforce. The safety net will need to be stronger than ever, particularly when the furlough scheme ends, as so many people will be in unemployment through no fault of their own. A repeat of the high unemployment and destruction of industry (with nothing to replace it) seen in the Thatcher years will not be accepted now, neither will a repeat of the austerity which followed the last crash. People will travel much less and rely on public transport much less, which will have a dramatic impact on how we view our towns and cities. This 'normality by Christmas' rubbish was always complete nonsense, but it'll be interesting to see how the market copes as we enter winter and people become less willing to get out and about. The end of the furlough scheme and the end of the transition period could also have a significant impact.

From: Algarve Investor 07 August 2020 10:38 AM

I thought the scheme wasn't in place yet?

From: Algarve Investor 07 August 2020 08:56 AM

Surely it's both in the modern world? To get by in the 21st century, you need the Excel, Word and social media skills. You need to know to communicate via email, WhatsApp and phone, as well as possibly Instagram and Facebook. You also need to know how to build relationships. The two aren't mutually exclusive in my book. You need both to thrive and function in today's agency world. So much of the work surrounding property is now done and achieved online - and that is only going to accelerate as a result of Covid. People who don't get with the times and embrace tech will, I'm afraid, be left behind.

From: Algarve Investor 31 July 2020 09:32 AM

"A new analysis of corporate estate agencies’ social media followings and websites" I think this rather gives the game away regarding a lack of mentions of smaller independents, doesn't it? I agree, though, that the smaller firms need to be recognised as well - some punch above their weight in a big way through their use of social media or other digital and innovative means.

From: Algarve Investor 28 July 2020 09:08 AM

Very sensible. And not a day too soon, in my book. The industry has been crying out for this for a long time. The Land Registry, to give it its due, has been pushing for much greater digitalisation of the property market, and this is just the first step to making the system less archaic and 20th century.

From: Algarve Investor 28 July 2020 09:03 AM

I enjoy CW's interviews, but he is a bit soft with Michael Bruce here. Usually he's not afraid to ask the hard, difficult questions in an uncompromising, no-holds barred manner, but here he appears to go a bit easy on MB. I know he says they have had many frank discussions about Agents Together, but I agree with the poster above that it's all a bit too cosy. I'm not one of those who absolutely hated PB and everything it stood for - although I hate those Commisery adverts! - but the company had serious flaws (and still does) and I don't think it is nonsense to suggest that the foundation and Boomin are linked in some way. They must be. Why launch them both at the same time, if not? Why not launch Boomin before the foundation if it wasn't all a PR exercise? Maybe I'm just an old cynic, but I can't see how the two weren't connected in some way. They'd almost be better off saying 'this is our way of giving back to an industry which we have previously disparaged and demeaned, as our attempt to build bridges." Rather than pretending the foundation was a completely altruistic venture with absolutely no link to the new portal (or whatever it is) they just happened to be launching a few weeks later.

From: Algarve Investor 27 July 2020 12:38 PM

You seem to have missed the first part of the article, which laid out in pretty clear detail why the company is in crisis. Not only did a major merger deal fail and the company's new chief operating officer fail to take up his post, they were also investigated and faced two significant fines from RICS and HMRC. That doesn't strike me as a company in rude health, does it? Add on to that the drastically falling share prices, the boardroom fallouts and the numerous high-profile departures of recent years, and it's clear all is not well on the Countrywide ship. The Platt reign was disastrous, but the recovery has been just as plodding, bumbling and incompetent. A once great brand is certainly now tarnished, and it's not fake news to label an ailing company as ailing. Maybe you would like to outline why they're not ailing? And who said they're going to be bust by autumn? Oh, you've just made that up, right?

From: Algarve Investor 22 July 2020 13:40 PM

Wow, what a naff name.

From: Algarve Investor 22 July 2020 13:26 PM

They won the ESTAS Best Online Estate Agent of the Year award. Would be a bit weird if that didn't go to an online agent, wouldn't it? You can disagree with online agents, but they do make up a small part of the market and, by rights, should be included in any awards ceremonies that go around.

From: Algarve Investor 20 July 2020 15:17 PM

"The statement also includes a quote from the online agency's majority investor, Sir Charles Dunstone, who says: “We are so excited to be challenging the establishment with Strike." Not sure Charles Dunstone, part of the Chipping Norton set and a former Tory donor, could ever be described as challenging the establishment. Strikes me that Strike would have much bigger investment and resources than most high street brands. Not entirely sure, also, if this rebrand is really necessary. Always seemed to me that HS were one of the better and more respected online agencies. If it ain't broke, don't fix it.

From: Algarve Investor 20 July 2020 15:14 PM

Barker is an impressive capture from Reapit, and I can't think he would have jumped ship without seeing something in this new venture, but all sounds incredibly vague and non-committal. Could be another example of deep pockets and shedloads of publicity and PR, without any actual substance, which has always been the criticism of PB. I very much doubt there is the need for another portal, especially with Homesearch recently joining the party and going down largely well with agents. Not sure what LaunchB - a very vague, odd name, too - will bring that is fresh.

From: Algarve Investor 14 July 2020 10:33 AM

Strikes me as a bit odd that agents and property people are regularly calling for the abolition or reform of stamp duty, and then when someone suggests that the recent change is backdated to the end of March they are laughed out of the room. What would agents/conveyancers actually like to see when it comes to stamp duty? What would be the fairest system? I see a lot of dismissing of ideas - such as switching the tax from the buyer to the seller - but very few actual answers about the best way forward.

From: Algarve Investor 13 July 2020 12:19 PM

Even that seems a bit outdated and archaic, doesn't it? Bit like how the servants' quarters or the drawing room would now seem highly out of place. In your description, which I don't doubt, it suggests a world where only men can be homeowners - you don't see any Mrs Bedrooms, do you? - and of a world where there are masters and those below them. I doubt anyone actually links a master bedroom to its original meaning very much - I know I've never really considered its origins before, I kind of just assumed it meant the biggest room in a house - but I can see why people could see as it being a bit of a colonial relic.

From: Algarve Investor 06 July 2020 16:19 PM

They're there, aren't they? NAEA and ARLA both sit under that brand. I never really know what the distinction is. Are Propertymark their own separate overriding entity, or are they just there to provide support to ARLA and NAEA?

From: Algarve Investor 01 July 2020 09:36 AM

What a charmer you are! You seem annoyed that the company acted improperly and has been found out, as should be the case. The firm's lack of response says it all. It's not always a big conspiracy against the employers of this country, you know. Sometimes employees are treated badly by employers and are rewarded financially for this mistreatment - as should be the case in any civilised society. FAC Properties had the chance to settle at £10,000 and ended up paying out (well, they still haven't paid it yet, it would seem), four times as much as that. Doesn't seem like very good business, does it?

From: Algarve Investor 29 June 2020 11:07 AM

Did you not make it onto the shortlist, CB? You seem a tad bitter about something.

From: Algarve Investor 25 June 2020 17:04 PM

Maybe his deputy Pincher - who has barely seen since he replaced Esther McVey in February - could step up to the plate. If anyone can find him. Other than being wheeled out by Jenrick to face questions on his behalf, I can barely remember Pincher making any contributions, announcements or innovations since getting the job. Whatever you think of her - and I don't like her views on many things - McVey at least put in some effort when in the role, probably more than any Housing Minister in recent times.

From: Algarve Investor 22 June 2020 11:36 AM

Don't often agree with you PB, but here I absolutely do. He is banged to rights, and his desperate clinging on and refusal to accept any wrongdoing - despite admitting what he did was illegal! - just makes him and the government look even worse.

From: Algarve Investor 22 June 2020 11:31 AM

Boris: Dominic, I have a cunning plan to get us out of this mess. Cummings: Shut up, man. I do all the thinking around here, I call the shots, because you, Prime Minister, have all the intelligence of a dung beetle that's just been squashed by a man with size 15 shoes.

From: Algarve Investor 01 June 2020 12:06 PM

Duffield resigned for far less than what Cummings did. Blackford returned home from Westminster a few days after lockdown to be with his wife who had underlying health conditions. There was no evidence he had Covid-19 symptoms. Kinnock was apparently delivering medical supplies/food to his folks. I don't think it was the most sensible move, and he shouldn't have filmed it, but Jenrick did the same - worse, in fact - and didn't go. So if Jenrick stays, so should Kinnock, no? The deputy mayor of Liverpool, Duffield, Neil Ferguson and Catherine Calderwood all did the honourable thing, why can't Cummings? What's so special about him? Also, none of those you mention have Cummings' power and influence. Boris is effectively his puppet, as the comment below this so aptly puts it. He obeys his master's command. He doesn't have the ability for independent thought, so he has to be told what to do by his unelected adviser. Quite embarrassing, really.

From: Algarve Investor 01 June 2020 12:02 PM

Or a possible solution to an ongoing crisis. Do you not think the number of viewings might be affected at present? Not everything is opportunism, and in this situation (to my eyes) what they are offering could prove highly useful to agents during the current crisis. And potentially beyond that as habits change and people start to do many more things remotely. I think this crisis could be the step-change into converting our rigid 9-5, 'bums on seats' culture into something far more flexible. It's going to ask us to rethink our whole economic system and the structures of our society, and how investing property in a world-class healthcare system and having enough doctors, nurses, ventilators, etc, is crucial at a time of national crisis.

From: Algarve Investor 16 March 2020 11:32 AM

Totally agree about the awful Chas and Dave-themed ads. They've ruined that jingle for me, which used to bring such happy memories of watching the Jolly Boys' outing to Margate. 'Daan to Margit!" OTM's adverts before were much more slick and professional, but barely broke through, so clearly they went for the YOPA/PB/Zoopla/RM approach of annoying people into submission. Still hasn't worked, though. Barely anyone knows who OTM is, outside of the agency world.

From: Algarve Investor 10 March 2020 15:45 PM

Good article. I think there is space to both take the threat seriously, and implement measures to contain it, and also to keep a healthy dose of perspective. Otherwise you get the sort of mass hysteria, fuelled by social media conspiracy theories, fake news and sensationalist tabloid headlines, that leads to people panic buying toilet roll and hand sanitisers! The minute-by-minute updates - now an inevitability in the 24 hour news cycle where clickbait is so prevalent - isn't helping when it comes to context or reassurance. It's a serious threat, and will have (is already having) a social and economic impact, but we're not talking about a pandemic on the scale of the 1918 Spanish flu or even the 2009 swine flu pandemic. The danger of the constant coverage and scare stories is either that people panic or they become desensitised to it. We need clear, rational advice and facts, of the sort provided by the Chief Medical Officer the other day. Unfortunately he was stood next to Boris, cracking jokes and trying to make light of things with all his usual optimism. Advice like the AIIC is handing out, imploring clerks to stay 6ft away from other people even if they are showing no signs of being unwell, just seems extreme and bizarre. Swerve the sensationalism, speculation and scaremongering, take sensible precautions and listen to the experts (unpopular in these times of taking back control and appealing to the lowest common denominator), and there is a good chance all will be well.

From: Algarve Investor 09 March 2020 10:17 AM

Wowsers. He's been so bullish in the past. I imagine a fair few people will be experiencing a dose of schadenfreude with their breakfast this morning, but didn't see this coming one bit. After a shaky few years, where it was hit by court cases, overspending on dodgy adverts, and a failure to break through in the same way as Zoopla and Rightmove, OTM did seem to have settled for a solid third spot. But now it seems to have descended into chaos again.

From: Algarve Investor 09 March 2020 10:01 AM

Would be huge news - number one and two in the industry, unless I'm mistaken. Would the CMA be taking an interest in this merger? It wouldn't be too dissimilar to the proposed ASDA/Sainsbury's merger which hit the buffers. It would be like Rightmove and Zoopla merging together to lead to one super-portal. Interesting times, and you can't see CW coming out of it too well.

From: Algarve Investor 24 February 2020 11:56 AM

No point in even learning his name, he'll be out of the job by this time next year! Doesn't exactly sound like a stand-up bloke, either.

From: Algarve Investor 14 February 2020 12:58 PM

Time for someone to be in place for more than 9 months at a time. That's now 10 housing ministers in 10 years. It's a complete joke and shows a complete lack of respect for what is a very important position. While not a Cabinet member, McVey did attend Cabinet, which was a step forward - but now this is another backwards step from the government. I have no time for McVey whatsoever, but even I'll admit she was doing a decent enough job in driving various reforms forward, and took her duties far more seriously than Malthouse (who barely showed up and left it all to Heather Wheeler) or Raab (who saw the position as a platform to spout off about Brexit and put himself in the shop window for Brexit secretary). What is the point of the position being such a revolving door? It's totally self-defeating as the new person has to learn their new brief and get to grips with the industry they are working in, which in some cases proves beyond ministers. An interesting parallel was made with Europe earlier today - where ministers generally stay in post for longer. In Britain, the turnover is much higher and people often move on after less than a year, causing disruption and dithering. If the government was actually serious about housing, they wouldn't have taken such a step, which just makes a mockery of a position that has already become a joke.

From: Algarve Investor 13 February 2020 14:15 PM

Strange. I really don't like McVey very much, but she seemed to be doing a decent enough job as Housing Minister. And was certainly taking the position more seriously than her predecessors. What is gained by giving her the chop? Maybe the rumours that surfaced about her rift with Jenrick are true. Does nothing for the notion that the position of Housing Minister is just a revolving door and makes a mockery of the government's plans to reform the home buying and selling process. That requires consistency and stability, something the MHCLG and DCLG before it have had very little of in recent times. A very odd decision.

From: Algarve Investor 10 February 2020 10:17 AM

I notice you haven't offered an alternative viewpoint, just snark and cynicism. As the article states, if you'd read it until the end, people are invited to disagree with the general consensus in the comments. It says if your experiences don't tally with what's said in the article, you can let people know about it. So, PP, here's your chance, your platform. Do you agree or disagree with the sentiments in the article? Do you still use local newspaper advertising or is it now an archaic, dying method? It seems self-evident to me - and I'll admit I'm speaking as someone with little direct experience of this - that it is a dying trend, that digital is king, and that it probably will be extinct as a marketing tool in the not too distance future. Maybe you disagree?

From: Algarve Investor 03 February 2020 09:50 AM

Why does everything have to be turned to Polly Neate and Shelter? I get that she and that institution are a popular punching bag for agents - and I can understand why the antipathy exists given some of the actions she's taken and the words she's spoken - but it's not her fault for everything, or Shelter's. I don't think Shelter are anywhere near as powerful as people assume. The government are just moving to try and win over the youth vote, giving them sweeteners to get them to move away from Labour. The Tories, complacent as it may be, know they can rely on the votes of landlords and agents - because many will never contemplate voting for Labour. And with an 80-seat majority, they will continue to run roughshod over landlords and agents if it's politically expedient to do so. If renters weren't an increasingly large part of the voting population, you can be sure that the government wouldn't be targeting them - aggressive lobbying by Shelter or not.

From: Algarve Investor 13 January 2020 10:15 AM

So a bit of a policy fudge, then? Some vague info about 'local first-time buyers' and 'key workers'. Who does this include? How local do you have to be? If you live in North London and try to buy a home in NW London, do you fit the criteria? Surely it must just be on new-build homes, right? I can't see how it would extend to all homes; how would that even work? People selling being forced to lower their prices by 30%? Surely not? Another confused policy, in my view, and could easily go the same way as Help to Buy - which, when you actually look at the figures, hasn't really helped that many buyers and has tended to favour the more well-off, and a fair few second-steppers. The affordable homes programme is also a nonsense - because it doesn't deliver affordable homes! The definition of affordable has now been changed to such a degree that - in London in particular - a one-bed flat for £300,000 is now deemed affordable. The government and I must have very different definitions of affordable. Affordable should be homes that even people on average salaries can afford without having to save for donkey's years. That isn't the case at the moment.

From: Algarve Investor 19 December 2019 15:01 PM

Couldn't agree more. It's utter nonsense and anyone who is not moving to an area because Corbyn happens to be in the name needs to take a long, hard look at themselves. I seriously doubt it is having any negative impact on the prices in the area, either. Whatever you think of him, Corbyn is not the devil incarnate and is nowhere near as extreme as certain sections of our media make him out to be. I very much doubt it's the only Corbyn Road in the country, and it just seems like it's a few people keen to get their names in the paper for their fifteen minutes of fame.

From: Algarve Investor 16 December 2019 14:15 PM

But will it be 20 years from now, even 10? I get your point that property is a people-based business and people still prefer dealing with a human than a robot, but just look at the changes in the last decade - contactless technology, a drastic rise in online banking, the rise of Airbnb, Booking.com, ASOS, etc. The younger generations in particular seem less interested in that face-to-face interaction; if something can be done remotely, at the click of a button, online - they jump at the chance. It's why Purplebricks has gained traction among younger sellers and buyers. Millennials are pretty tech-savvy, but are probably still more likely to opt for human contact because they were brought up at a time when the analogue to digital transition was happening and the high street was still dominant. Now it isn't. And Generation Z, Alpha and the ones behind it are more reliant on tech than any other before. I don't think we can say with any certainty that things won't be much more tech-led and digital a decade from now, as Generation Z and Alpha become the main buyers and sellers, and landlords and tenants. You can see it with Land Registry's digital transformation programme and the talk of movable online tenancy deposits. Still a long way to go - and the property sector is still quite old-fashioned and almost archaic in some respects - but I can only see it going one way personally.

From: Algarve Investor 11 December 2019 11:14 AM

I had no idea Rightmove charged so much more than Zoopla or OTM. I knew there was considerable frustration at the fees charged by Rightmove, but I always assumed it was a pretty level playing field with the other portals. But in reality Rightmove are charging fees considerably higher than the others. Unless I've got that wrong?

From: Algarve Investor 15 November 2019 09:20 AM

Its Tube adverts say it is the biggest agency in the country, but then have a quick disclaimer in small print which slightly contradicts this. On what basis are PB the biggest agency in the country? Does PB actually have more listings than anyone else, or is just smoke and mirrors, pure PR spin? I see the boards a lot, and you can't avoid the adverts, but the major question mark is whether PB is very good at the bread and butter - and we seem no clearer after these latest provocative claims.

From: Algarve Investor 14 November 2019 11:40 AM

I agree, up to a point. I have big reservations when it comes to Purplebricks - the awful adverts, the rapid and ill-advised expansion, the questionable business structure, the chuck more money at it approach, the bullishness, the lack of forward planning, the promises that they never keep, and the clear issues it has in many areas - but you can't deny its impact in shaking up the property industry and offering an alternative. As I've said before, the number of PB boards on roads, streets and avenues up and down the country is testament to the national reach it has, and the success it has had in piercing through the national consciousness. I think it's dangerous to write PB off entirely. It clearly has something. And, like you say, traditional agency isn't free from issues and complications. I can understand the schadenfreude from agents who see PB as a reckless upstart, but a company who can have all the problems it has had of late and still become the partner to team GB and secure other lucrative tie-ups is one that shouldn't be dismissed out of hand.

From: Algarve Investor 27 August 2019 10:28 AM

I agree that education is still vitally important, but I think the point he's trying to make is that the current system is flawed - with too much focus on high-pressure exams which don't really give a good indication of a person's capabilities past their ability to retain information. I think a similar argument could be made for interviews - where the intention often seems to be to catch people out, to put them in unlikely hypothetical scenarios and ask them to problem solve unlikely situations. Some people interview superbly, and then aren't up to the job; while some people might be nervous interviewees but terrific at their job. What's more, so many more people now go to university, which means degrees have less sway, prestige and influence than they once did. Still important, and a good marker, but unlikely to open as many doors as they once did. There was an interesting documentary on the BBC the other day about breaking into the elite, and how difficult it is. Britain is still a closed shop in many areas of life, with a who you know culture and top positions dominated by a cabal of privately-educated, Oxbridge folk. Estate agency, for all its faults, is actually fairly meritocratic and a profession which gives the opportunity to anyone, from any background, to achieve - as Ashkay has proven. The millionaire thing is a bit of window-dressing - and a press-friendly soundbite - but you have to admire his gumption and nous to create a whole business at such a young age. More power to his elbow, I say.

From: Algarve Investor 15 August 2019 09:24 AM

I agree with Ashkay about the exam/grading system - it could do with a revamp to ensure people aren't judged on academic ability alone. As he says, soft skills are just as important - especially in the world of work - and different people have intelligence in different areas. I, for example, am useless when it comes to anything practical - and would be completely lost in the running of my properties without those who are. I'm relatively academic, but how many things I learnt at school way back when now help me in my day-to-day life? Very few. Algebra, for instance, rarely comes in very handy. University degrees are also not the be-all and end-all - they help, but people again shouldn't be judged on these alone. Being a successful worker, businessperson or entrepreneur is about so much more than how good you are at exams and, in many cases, remembering and absorbing stuff. Life skills are just as vital - more so, in fact.

From: Algarve Investor 15 August 2019 09:08 AM

Makes perfect sense, I would have thought. So many people use WhatsApp - it's huge and has replaced text messages for many - so I'm surprised this hasn't been done before. Surely it's the future?

From: Algarve Investor 01 August 2019 10:22 AM

Wow, what a merry-go-round of incompetence. Why would anyone touch easyProperty with a barge pole? It's a poisoned chalice, it's dead, it's pointless - it should just be killed now for the good of everyone. If the tie-up with the Guild and Fine & Country didn't revive it, this certainly won't. It's been around for a number of years now and has failed to become established, despite significant investment - from tacky PR stunts like the mock funeral for estate agents to millions spent on TV advert. People just don't know about it, like so many of the easy brands outside of easyJet and easyHotel. Sometimes diversification can go too far and you get people with no idea about property trying to make it in sectors they know nothing about. EasyJet could have been Purplebricks or Yopa, but they have single-handedly failed to gain any traction whatsoever in the 5 or so years since they were formed. Surely people can see that? Have you ever seen an easyProperty board on the street? Has anyone actually sold or let a home through the company? Baffling.

From: Algarve Investor 30 July 2019 13:08 PM

Not very long at all. She's an ambitious woman with previous experience of being in the Cabinet, she won't settle for being a junior minister for long. Another MP seeing the position of Housing Minister as a springboard to better things. You could argue it's worked out pretty well for Raab, Sharma and Shapps, though! (All were varying degrees of hopeless as Housing Minister). Raab and Shapps, in particular, make Boris look bright. Brokenshire was pretty solid, and I don't really fancy the chances of a virtual unknown being as effective. Brokenshire and Wheeler, despite their faults, do seem to have got MHCLG running as a pretty tight ship. No guarantee that will continue with Boris and the Brexiteers in charge, and Jenrick and McVey (voted out in 2015 before being parachuted into Osborne's old seat, the safest seat in town) don't inspire confidence.

From: Algarve Investor 25 July 2019 15:09 PM

You think BoJo has leadership qualities? He showed during his time as Foreign Secretary, the only time he's held one of the great offices of state, how unfit he was for high public office. Gaffe after gaffe, diplomatic disaster after diplomatic disaster. It's all very well playing the clown as London Mayor, where he could get away with being the capital's global ambassador and let other people get on with all the work, but you can't do that as PM. He will be expected to have a serious handle of his brief, to pay close attention to detail, to understand the complexities and nuances of the economy the running of a country and he's simply not up to it. I give him 6 months, if that.

From: Algarve Investor 23 July 2019 13:51 PM

True, but the public perception is that agents charge fees that are too high for not a lot of work. That's a very hard perception to shift. And not helped by the fact that in some cases it's true. While many agents are diligent, hardworking and only want the best for their clients, this is far from universal. That's where the resentment over high fees comes into play - people see agents doing little for handsome reward. Of course, the counter-argument is that agents only get commission once a home actually sells, so the incentive is there for them to do a really good job - something which isn't there for the upfronters. Speaking of perception - Purplebricks, despite all their recent travails, are clearly still doing something right going by the street I live on. Two houses being sold with the agency. Not to mention the tie-up with Team GB. The PR team PB has employed are doing an incredible job.

From: Algarve Investor 23 July 2019 11:00 AM

Maybe he'll use his final day to do some actual work - up till now, it's been hard to tell what he's actually done? I know it's cliched to say 'they do nothing for their money' - which in a number of cases is unfair - but in the case of Malthouse as Housing Minister it seems entirely accurate. All of the work has been left to Brokenshire, Wheeler and MHCLG. Whenever there is a statement on housing, it comes from one of them, never Malthouse. What does he do with his time? The only time he's been in the news since becoming Housing Minister is Brexit-related - with the Malthouse compromise briefly being seen by some as the solution to the Brexit impasse. Other than that, he's been as bad as Raab in barely mastering his brief or doing anything of note. It's been a revolving door of late, but Malthouse really won't be missed. I can count on one hand the number of times he's made statements on anything property or housing related. Where has he been during the recent major announcements - RoPA, the letting fees ban, changes to leasehold, etc? Completely missing in action. Now that housing has a position at the Cabinet table, the role of Housing Minister has become rather redundant. Might as well get rid of it completely, and just use MHCLG and junior ministers like Wheeler - hardworking if flawed - as the connection between Brokenshire and the industry. That's pretty much what we have at the moment.

From: Algarve Investor 23 July 2019 09:57 AM

Amazing. You would have thought no-one would want to touch PB with a barge pole after its recent troubles and travails. Just goes to show the power of brand awareness, good PR and perception. Outside of the industry, I don't think awareness of PB's difficulties would be common knowledge - they'd just be a name people know as a major estate agency, whose boards are everywhere, and who do naff commisery adverts on the TV. That alone, plus reams of funding, is keeping them going at the moment. Because there is huge question marks over their business model, long-term viability, disastrous expansion plans, efficiency and effectiveness when it comes to the bread and butter of agency. It clearly has a gold medal winning PR and sales team, to keep getting these sponsorship deals and endorsements even with all the troubles it's faced of late. Maybe it has become simply too big to fail?

From: Algarve Investor 20 June 2019 13:15 PM

Good luck being successful without the portals! Whether you like it or not, people search for properties to buy and rent online - and, 9 times out of 10, they will turn to one of the portals to do so. Very occasionally they might head straight to an agent's website, but that's very much the exception rather than the norm. What happens when agents tell sellers and landlords that they will no longer be advertising on these sites with an incredibly active and captive audience? I can't imagine they'll be very happy. I understand agents' frustrations with the portals and the rising fees they charge, but surely they are a necessary evil? It's similar to Just Eat/Deliveroo and takeaway establishments; they almost certainly don't want to pay the high commission fees charged by these middlemen firms, but they also know that they need to be on there for the sake of their business. If they're not, demand for their products could fall considerably. Surely a similar story with Rightmove/Zoopla/OTM and agents?

From: Algarve Investor 18 June 2019 16:26 PM

What is that name all about? A bit of a mouthful or what!

From: Algarve Investor 07 June 2019 16:05 PM

Not a hope in hell's chance - surely he can't actually believe he could be PM? Only ever been a junior minister, only been an MP since 2015, missing in action as Housing Minister (supposedly his main brief), and no experience of being in high office. The current Tory talent pool is very thin, but this is just taking the mickey. Will anyone else chuck their hat into the ring? Feels like every Tory MP going is trying to be PM.

From: Algarve Investor 28 May 2019 08:28 AM

Great stuff! Keep stories like these coming.

From: Algarve Investor 14 May 2019 08:27 AM

Commisery for Purplebricks? Or whatever the equivalent is for a business seemingly going nowhere good.

From: Algarve Investor 07 May 2019 12:07 PM

Who predicted that? Quite a few people with eggs on their faces now, although they'd argue that this is just one last desperate throw of the dice from a desperate company (and they'd have a point). Still, though, with all the bad press and publicity AM has received in recent weeks, to secure that amount of the vote on a high turnout is impressive. Sure plenty of lobbying has been going on to get this over the line. What now, though? What if there is no big investment when the float happens? Could prove to a disastrous move, but they must have some confidence in their proposal. At the same time, there is a strong argument that they are now going against everything they stood for by floating in this way.

From: Algarve Investor 07 September 2017 11:48 AM

As someone posted yesterday, PB thrive off criticism and division. That's what it wants. It wants to be underestimated. It wants other agents to argue amongst themselves. Whatever you think of PB, though, it can no longer be ignored. I'm not a big fan of its business model, its relentless PR drive, its awful adverts, or its patronising, deceitful "It's not about the commission with us, it's more about caring about the people" spiel (yeah, right!), but the fact that they are riling so many in the industry up and achieving recognition is a sign that they shouldn't be dismissed. Take the fight to PB, don't just look to do it down.

From: Algarve Investor 11 July 2017 14:28 PM

In fairness, PB are striking while the iron is hot and interest in them is incredibly high. A few years ago it was Foxtons, a few months ago it was Countrywide, for a while it was Zoopla's tedious bunfight with OTM. At the moment, there is considerable interest in PB and its operations. As such, lots of press coverage. That will die down soon enough. But PB do have a very effective PR and marketing strategy and are very good at getting their name out there. On an online trade news site, I'd expect there to be plenty of news about PB, given its current high profile and some of the (slightly ludicrous and premature) statements it's making. Nothing above suggests an endorsement of PB or a puff piece - it's just reporting the latest news. Which, I suggest, will not be met with much positivity by the industry.

From: Algarve Investor 11 July 2017 14:23 PM

What ever happened to the Lifetime ISA? All seems to have gone quiet on that front in recent weeks.

From: Algarve Investor 22 June 2017 09:27 AM

Seems a bit petty from the HOA. I don't think the industry should be criticised for celebrating the work for agents, so long as the awards are justified and deserved.

From: Algarve Investor 22 June 2017 09:26 AM

Bit of a bolt from the blue, this merger. I don't think anyone saw it coming. I find it a bit odd, given what the Guild and Fine & Country stand for, but clearly GPEA are keen to get in on the online action, to broaden their appeal and customer base. A risky strategy, but one that could pay dividends. I think the recent investment in online services by Countrywide, Savills, LSL and others is a sign that PB - for all its critics - is worrying people. The online market might only be 5% of the overall market, but PB have the lion's share of that and are growing at an incredible rate. They are becoming ubiquitous. They are becoming hard to avoid. They have the brand awareness that so many online agents - and traditional agents too - crave. I can't see the online sector expanding to 20% anytime soon, but it will definitely grow and clearly the big agency beasts are keen for a slice of it. Quite a pragmatic move, some might say, but they do risk disillusioning their traditional base with such a move.

From: Algarve Investor 13 June 2017 10:52 AM

In this digital age, SEO is increasingly important. So good to see that this is now becoming more of a consideration for agents. Some slightly odd searches going on there - I wouldn't have thought bi-folding doors and wood-burning stoves would have been must-have for buyers. But what do I know?

From: Algarve Investor 13 June 2017 10:38 AM

Location and affordable might not be counted as features, I suppose. They are things that are taken into consideration before you go to view a home. If those factors aren't already satisfactory, you are unlikely to take any further steps. Then, when you are ready to buy, the features outlined above become the most important things. As for energy ratings - why wouldn't people take that seriously? A home with a better energy rating can save you plenty. It might not be a top priority for me, but it'd certainly be in my top 20. Better energy rating means lower energy costs - sounds good to me.

From: Algarve Investor 16 May 2017 11:56 AM

Wowzers. That's a lot of money. Don't think Savills are exactly in need of it, but I guess they had every right to challenge it and the Court of Appeal clearly agreed. As Mark says above, Peter Blacker and Sidemanor Ltd didn't cover themselves in glory here. I'm sure he's not short of a few bob, but this has still got to sting. One of those cases where the nuances of the law have worked in the favour of Savills, when on another day it could have gone the other way. The sort of thing that may go through a few more appeals yet.

From: Algarve Investor 16 May 2017 11:53 AM

Not exactly surprising - and another reason why more and more people should be looking away from London and the South East when it comes to buying or investing in property. We've become way too London-centric, forgetting that there are many other thriving cities in the UK where property is considerably cheaper.

From: Algarve Investor 15 May 2017 10:09 AM

Not exactly surprising - and another reason why more and more people should be looking away from London and the South East when it comes to buying or investing in property. We've become way too London-centric, forgetting that there are many other thriving cities in the UK where property is considerably cheaper.

From: Algarve Investor 15 May 2017 10:09 AM

Is there any company that doesn't now have an ex Countrywide MD or senior Countrywide figure in charge?

From: Algarve Investor 25 April 2017 10:37 AM

"Purplebricks to be 'biggest UK agency by 2019" Is this a joke? I'm all for ambition, but come on! Clearly they are comfortably the largest online operation - even if they label themselves as a hybrid - but they are nowhere close to being the biggest agency in the UK and won't be by 2019. They have a fairly big presence - with their bright branding, their Marmite TV adverts and their colourful/garish boards - but I'm still on clearer on how successful they are at the actual bread and butter of agency.

From: Algarve Investor 25 April 2017 10:36 AM

Hmm, interesting. Will be fascinating to see whether this works or not.

From: Algarve Investor 24 April 2017 15:26 PM

Up and up and up and up. When will it end? Surely it's not sustainable long-term?

From: Algarve Investor 24 April 2017 10:08 AM

"Strutt & Parker and French bank remain silent over acquisition talks" We can take from that it's a done deal, then? Silence speaks volumes - why would they be so coy otherwise?

From: Algarve Investor 16 March 2017 11:54 AM

It's really not been a good start to the year for CW, who seem to be falling apart at an alarming rate. I have some sympathy with them - given they seem to have becoming the popular punching bag for smaller agents, taking on the mantle once held by Foxtons - but all these dire results and negative press stories must mean something. Their approach - endless diversification, fingers in too many pies, too much focus on retail - is clearly having an adverse effect, but no-one at the top seems to notice. Or they are too busy jumping ship.

From: Algarve Investor 16 March 2017 11:52 AM

And England should follow, too. A policy that has absolutely no relevance to today's property industry and merely exacerbates a problem that it promises to address.

From: Algarve Investor 14 March 2017 09:37 AM

Flogging a dead horse springs to mind when I think of OTM. Their traffic levels sound decent, but if they are doing so well why no mention of the 2nd anniversary, why no regular updates on their progress. In recent times you would have been forgiven for thinking that OTM no longer existed. I've always kept an open mind about OTM and the portal wars, but I just can't see how they've made any progress in the last two years. Zoopla and Rightmove are still very much the dominant players. OTM hasn't even got close to seeping into the national consciousness. The TV ads, despite being reasonably well-made and professional-looking, made no impact. The PR drives have made no impact. Ask anyone outside the property industry about property portals or websites and two names will come back to you - neither of those is OTM.

From: Algarve Investor 02 February 2017 10:29 AM

Remax. Blimey, there's a blast from the past. Are they still going in some capacity?

From: Algarve Investor 30 January 2017 16:14 PM

This will be interesting!

From: Algarve Investor 30 January 2017 16:13 PM

Surely they must have some idea? All seems very strange otherwise. "The agency is currently in the middle of its high-profile ‘Commisery’ TV campaign" I'm sure this must be playing a part. Haven't seen any of the new adverts yet - probably a blessing, to be honest - but they do know how to find their way into the national consciousness, I'll give them that. If nothing else, PB are very adept at PR and self-promotion. I agree that the criticism of PB is over the top at times, but they often don't help themselves with some of their more outlandish claims. They also seem to rub people up the wrong way, partly because they're bold, colourful, brash and revel in their new kids on the block status.

From: Algarve Investor 30 January 2017 16:12 PM

Can we possibly have a ban on the word "Brexit" in 2017? I'm fed up of hearing about it. And it hasn't even properly happened yet. It would be nice if all the uncertainty could just be over with. It's doing no favours to people like myself - with businesses that rely on good, close connections between us and Europe. I'd rather it was sorted out, either way, and we can all just get on with things. This endless uncertainty, speculation and will we/won't we is driving me, and many others I know, mad.

From: Algarve Investor 12 December 2016 17:16 PM

The Eastenders drinking game is usually a fun one. Disclaimer - always drink responsibly, etc. Anytime one of the Mitchell clan mentions family, drink. Every time they head "up west", drink. Every time someone gets dinner from the chippie or the Vic, drink. Eastenders is a guilty pleasure of mine, even if it is absolute dross much of the time. Phil Mitchell is probably the best character in it, and good to see him doing his bit for the world of property. I think Fleet Milne have won on the celebrity guest appearance front, unless another agency can pull it out of the bag in the next few weeks. Great pictures, by the way. Some much-needed light-heartedness in an industry that can sometimes be accused of taking things - and itself - too seriously. Good on everyone taking part.

From: Algarve Investor 12 December 2016 17:12 PM

Agreed, Jon. Total joke of a scheme that doesn't seem to have helped the very people it aimed to help. A shameless gimmick from the government, nothing more. I'm sure their latest flagship policy - "affordable" Starter Homes - will be just as successful.

From: Algarve Investor 06 December 2016 10:05 AM

Great idea. Well done, Land Registry.

From: Algarve Investor 06 December 2016 10:01 AM

"The newspaper says in recent months there were reports of ‘murder tourists’ taking selfies with the property as a backdrop." What the hell is wrong with people? "The newspaper says most of the money from the proceeds of the sale will go to pay off debts and to compensate Howell's victims." This, however, is a nice touch, restoring my faith in humanity somewhat. Can't say I'd heard of the story until now, but sounds like a very horrible, tragic case. Good to hear that his victims are being recompensed in some way.

From: Algarve Investor 06 December 2016 10:00 AM

Far as I'm aware, it will be the changes to mortgage interest tax relief that will have the biggest impact on landlords and other interested parties. The stamp duty changes, by and large, have been fairly easily absorbed, with the buy-to-let market - despite the scare stories - actually showing signs of renewed strength. Yes, at the top of the market buyers have been harder hit by the stamp duty changes, but I'm not sure I agree with this idea of trickle down - that if the very prime end of the market isn't doing as well, this will filter down towards the rest. Seems like too convenient an excuse to me. Not sure why there is so much anger, either - Hammond was always very unlikely to reverse these changes. Can't see why people are so surprised.

From: Algarve Investor 24 November 2016 09:10 AM

Harsh but fair!

From: Algarve Investor 24 November 2016 09:04 AM

Only anecdotal - but then so is what you've said - but a couple of friends of mine who have used PB have said they provided a perfectly good, fast and efficient service. My anecdotal evidence doesn't trump your anecdotal evidence, but the idea that no-one has a satisfactory selling or buying experience with PB seems too much of a leap for me. I know they divide opinion - and I find their style of gaudy colour schemes, heavy PR campaigns and outrageous promises (like being a 24/7 estate agent, for example) very grating, but I'm not so blind to the fact that they've made an impact. They have a big chunk of the online estate agent market and are clearly keen to advertise themselves as hybrid, knowing how much traction that model is getting. I think the hostility is a little unfair. It suggests that all traditional agents are angels who know exactly what they're doing and have never put a foot wrong in their lives, which we know isn't true. It's this protectionism I can't stand. I fully appreciate why the hostility is there, but if PB were of such little threat why do they attract such opprobrium.

From: Algarve Investor 22 November 2016 14:43 PM

Good points. How are they able to get away with it, though? Isn't there some body or power who should he holding them to account?

From: Algarve Investor 22 November 2016 12:57 PM

Everywhere's unaffordable these days. Don't worry, though, the government have more "affordable" housing schemes on the way to address the issue.

From: Algarve Investor 22 November 2016 11:03 AM

You assume they don't? That's a pretty broad assumption, wouldn't you say?

From: Algarve Investor 22 November 2016 11:01 AM

I'm no fan of Purplebricks, but he might have a point here. "Asked how the industry as a whole reacted to Purplebricks, Bruce says: “First of all they dismiss you as having no relevance, no importance – that’s the first cycle, denial. After that they ridicule, and after that, and it took a while, but then they seek to address the scenario.” Many agents were writing off Rightmove and Zoopla when they first appeared on the scene, many in the property world refused to see the huge potential offered by online services. Many wrote off social media and the internet as short-term fads. I'm not saying it's the same with PB, but there does seem to be an excessive amount of hostility towards them. It's the same with Foxtons and CW - people desperate to see these firms fail, desperate to say "I told you so". I guess it's the old tall poppy syndrome coming into play. No-one should get above their base. If they do, they will be immediately knocked down. I suppose it's why some people have taken glee in OTM's travails. An agent-owned and agent-led portal that has made very little impact and very little impression, despite all the hype, adverts and money pumped into it. It works both ways. Traditional agents don't always know best. Experience doesn't always trump new, fresh ideas. Complacency is never a good thing, especially in a world that moves so fast. Those who are stuck in the mud tend to shout the loudest when anything new, scary or different comes along.

From: Algarve Investor 22 November 2016 11:00 AM

Hmm...sounds like a pretty dreadful idea. What is it with this government and housing? They think gimmicky schemes that don't really solve the problem are what is needed. They're wrong.

From: Algarve Investor 07 November 2016 14:42 PM

Brexit has opened up a terrible can of worms. David Cameron, who has now swanned off into the sunset, is to blame for all this. I agree with Barwell - it's all getting very heated. But what did he expect? If the tabloids are going to come out with inflammatory, deliberately provocative front pages, and people are going to receive death threats for daring to uphold the rule of law, then of course the other side is going to have something to say about it. Social media is toxic in this respect. It's given everyone a voice, an opportunity to be angry, bitter and disrespectful. Keyboard warriors is a very appropriate phrase when it comes to some of these morons on Twitter and FB.

From: Algarve Investor 07 November 2016 14:40 PM

There's a tempting joke here, but I wouldn't dare be so rude!

From: Algarve Investor 02 November 2016 15:06 PM

Well, when Brexit starts bringing some tangible benefits. At the moment, it's only bringing uncertainty, chaos, division and massive slumps in the value of the pound. Investment decisions are being held off, mixed messages are being received, no-one knows for sure what the plan will be - it's a mess. And what have we really gained from it? I have vested interests in this, granted. My business relies heavily on easy and good links between the UK and Portugal, but from what I've seen so far Brexit is proving to be a right pain in the you-know-what.

From: Algarve Investor 02 November 2016 15:05 PM

2020 - property prices still rising. 2030 - property prices still rising. 2040 - property prices rise to astronomical levels. If the fundamentals of the property market in the UK stay the same, the situation isn't changing anytime soon. Prices will just continue to rise, endlessly. The government say they are interested in affordable homes and rents, but that's all just lip-service. Expect the average price to reach £300,000 before too long.

From: Algarve Investor 19 October 2016 09:03 AM

Hadn't heard much from the estate agents everyone loves to hate recently. Now I understand why.

From: Algarve Investor 19 October 2016 08:58 AM

*uncomfortable.

From: Algarve Investor 17 October 2016 11:47 AM

"OwnerSellers.com" For that name alone, they deserve to be delisted. Only joking...sort of. Can't see what RM have really done wrong here. As T Dap says, it's in their hands who they list and who they don't. They can do as they please. If we asked RM, I'm sure they'd give a very different version of events. This free estate agent branding makes me comfortable. It's not really free, is it? I'm all for online agents and innovation, but this company just seems to be scoring a few hits at RM's expense, using the portal's name to increase exposure to their brand.

From: Algarve Investor 17 October 2016 11:46 AM

From: Algarve Investor 17 October 2016 11:43 AM

"We should all be impressed by this growth in the last two years. Rightmove stats show that the sector has doubled market share since 2014 and if that’s extrapolated to 2020, that’s a 20% market share at that point." Market share might have doubled since 2014, but it's still only about 5%. I think it's highly unlikely that will jump to 20% by 2020. I wait to be proved wrong, but on this occasion I don't think I will. Anyway, nice to see some considered, thoughtful answers from Russell. Too often we get the PR spiel and the deliberately provocative comments from Mr eMoov - the all publicity is good publicity mantra - so it's good to see his thoughts on a wide range of issues. We need dissenting voices in the industry, to stop others getting complacent. If nothing else, Mr Quirk is always entertaining.

From: Algarve Investor 17 October 2016 09:01 AM

"Data from the Royal Institution of Chartered Surveyors suggests that over 60 per cent of its members contributing to a monthly market survey believe values of homes in London and the south east are “above fair value currently.” The award for stating the bleedin' obvious goes to...

From: Algarve Investor 14 October 2016 11:31 AM

Care to explain why?

From: Algarve Investor 14 October 2016 11:30 AM

It has to be the best way, surely? Doesn't mean local knowledge or experience is any less important, mind.

From: Algarve Investor 13 October 2016 10:28 AM

What does he think of OTM? Oh, wait...

From: Algarve Investor 13 October 2016 10:27 AM

Great story, Graham. Nice work on pushing the ASA on this. Informally resolved cases does always sound like a bit of a cop out - what does that actually mean?

From: Algarve Investor 13 October 2016 10:26 AM

Too right as well. Another ridiculously short-term, greed for greed's sake policy that completely dismissed the concerns of the local residents who will be affected by the fracking. Short-sighted, damaging, regressive - why am I not surprised with this government in place? Renewables are the way forward - anyone with half a brain cell can see that. If there was the will and the investment, solar, wind, tidal and other types of green energy could provide us with the power we need. We could really take a lead on this front, take the world with us. Instead, we turn to things like fracking and costly, dangerous exercises such as Hinkley Point. Fracking is only to the benefit of the companies doing the fracking, who are probably in cahoots with the government anyway. Why would anyone want to live near a fracking site? Once again, though, it will be the local communities being harmed by this.

From: Algarve Investor 12 October 2016 10:12 AM

Not actually an agent myself, but do like the idea.

From: Algarve Investor 26 September 2016 13:22 PM

Nice idea. I can see this working out pretty well, assuming enough agents embrace it.

From: Algarve Investor 26 September 2016 11:39 AM

You've got to commend their ambition. And they seem to do it in the right way, which is why you don't often hear a bad PR story regarding the above company. Compare and contrast to Foxtons...(in fairness, they've been better behaved in recent months, but they do always seem to be one step away from their next own goal or PR disaster.)

From: Algarve Investor 26 September 2016 11:37 AM

Upheaval seems to have been Countrywide's middle name of late. They're like a football team having a clear-out. As we know, that doesn't always work out for the best!

From: Algarve Investor 26 September 2016 11:35 AM

Just had a quick look at easyProperty's website for the first time. Thought I'd do a quick search for properties to let in some of the UK's major cities using the website's search facility. Manchester - 3 homes to let. Birmingham - 1 home to let Leeds - 2 homes to let (neither of which were actually in Leeds; one in Castleford and one in Bradford) Leicester - 1 home to let Bristol - 1 home to let Liverpool - 8 homes to let Newcastle - 2 homes to let Southampton - 1 home to let Norwich - 3 homes to let Only London, with 171 homes to let, shows any actual activity. They might argue their operations are principally London based, but why pretend to be nationwide? After two years, the number of homes they have available to let, other than London, is minuscule. What are they for? Who is backing them? Who is investing? How many of these homes to let are actually being let? Purely anecdotal, I know, but I don't know anyone who has used easyProperty to buy or sell a property. I can see no evidence that they actually do what they say they do. Maybe I'm being harsh, maybe someone can tell me otherwise. But the only time I ever hear easyProperty's name mentioned is every few months, with an ego-boosting exercise like this. It always seems like they are desperate to tell everyone how brilliant and successful they are. Such an aggressive facade just makes me cynical.

From: Algarve Investor 23 September 2016 10:10 AM

Do you have an alternative to RM? You know, one that actually works and people want to use. No? Didn't think so. RM are as big as they are for a reason. Agents have no choice but to list with them for a reason. They are not perfect, no business is, but I've seen nothing to suggest they are the monster certain agents seem to suggest. Do you ever see a bad PR story about RM? Barely ever. They keep their noses very clean. By contrast, OTM are in the news for the wrong reasons all the time. I think that is sometimes unfair, and OTM probably are too easy a scapegoat, but it's clear that they are not going to be challenging RM - or even Zoopla - anytime soon. People search for properties online now. That's just what happens. You can rail against it, but that's reality. People will want their property listed on RM for the exposure it will receive. It's that simple.

From: Algarve Investor 21 September 2016 12:27 PM

Kind of similar, but not really.

From: Algarve Investor 21 September 2016 12:23 PM

Rightmove are an easy punching bag for agents. I understand why, in some respects, but I think part of it is a jealously thing. Why didn't we think of Rightmove first? type of thing. Could be being harsh, but that's the impression I get sometimes when agents indulge in Rightmove-bashing. I know there are legitimate issues with which to bash RM, not least on pricing, but then there are legitimate issues with which to bash agents as well, not least fees. No-one is perfect in this. Business is business. RM know that better than anyone and have built a very successful and sustainable model. Until something better comes along - and that patently isn't OTM - then agents will be listing on RM for a very long time to come.

From: Algarve Investor 21 September 2016 12:22 PM

“We met Russell to see whether he had thought of anything that we didn't already have in our plan. He hadn't. We certainly didn't call the meeting because we wanted to invest in his business.” You've gotta love Russell's gumption. The PR man's PR man. If Quirk says it, it must be true. Except it very probably isn't. He is a very entertaining figure and, I suppose, he does his job right by getting his name (and eMoov's) into the headlines as much as possible. At the same time, everything he says is taken with a massive pinch of salt, which must be quite damaging to his credibility.

From: Algarve Investor 15 September 2016 09:16 AM

As I said above, 56 days is more than enough time to at least offer some response. AM's excuse, that they didn't have the necessary Information Memoranda from every agent, just smacks of stalling at best, amateurism at worst. No evidence that AM or OTM have done anything wrong, but why can't they put their version of the story across? The lack of a reply just makes them look a bit shady.

From: Algarve Investor 14 September 2016 08:59 AM

Surely the amount of time they were given was sufficient to gather the required information and formulate a response? I thought AM and OTM were supposed to be a well-oiled, professional machine. Are they or not? Seems like prevarication on AM's part.

From: Algarve Investor 14 September 2016 08:56 AM

Well done, RICS. Caught banged to rights and no amount of weaselling or attempting to paint Channel 4 as the guilty party for misrepresenting him is going to change that. The fact he'd had previous offences regarding compliance made the decision a no-brainer.

From: Algarve Investor 14 September 2016 08:52 AM

Now now. This is what we're trying to prevent :) Work together, not against each other. I think conveyancers and agents need a bit of marriage counselling, because they forever seem to be at each other's throats. He said, she said, no he said, no she said. Maybe some common ground can be reached if there is compromise and communication between both parties, which is what the above event is trying to achieve. Better than an endless stand-off, with both sides deriding the other.

From: Algarve Investor 13 September 2016 12:12 PM

Good idea. Hope it goes well. The relationship between conveyancers and agents does seem to have become quite frayed in recent years, but it's in the interests of everyone in the industry for them to be singing from the same hymn sheet. Hopefully events like this can smooth relations somewhat.

From: Algarve Investor 13 September 2016 09:35 AM

Sensible move, from what I can see. The system in Scotland seems to work better than the English one - it might not, mind, I have no direct experience of it - and it's also interesting to note that the additional 3% stamp duty surcharge that has caused such a ruckus since it was announced by Osborne is not set in stone under the new rules in Wales. Will we see a rise in property investment in Wales? Landlords could potentially desert England to swerve the extra stamp duty and choose instead to invest in Wales, a country that is in desperate need of investment and economic prosperity. Could be a very canny move by the Welsh government.

From: Algarve Investor 13 September 2016 09:33 AM

Didn't know about Blockbusters refusing to buy Netflix - would be interesting to read a bit more about the background behind that. To be fair to Blockbusters, back in 2000, no-one could have predicted how big the internet would become or how big a thing online streaming would be. It's only in recent years that the likes of Netflix and Amazon Prime have really taken off. 16 years ago video still ruled the roost. DVDs were becoming more popular, but I seem to remember most people still using videos - and having a video player - back in 2000. It is amazing to think how much has changed since then. As they say, hindsight is a wonderful thing.

From: Algarve Investor 08 September 2016 10:30 AM

Haha! Fair points. Can't really argue with that. I think Mr Quirk is guilty of over-egging the basket somewhat, not for the first time. eMoov clearly run a decent operation - they wouldn't been around for this length of time if that weren't the case - but for Quirk to try and compare eMoov to CW is taking things to the extreme (and then some). I think CW - the biggest agency in the country, let's not forget - hasn't lost much sleep or further business because of its decision not to invest in eMoov. Delusions of grandeur from Mr Quirk or just more clever PR?

From: Algarve Investor 08 September 2016 10:26 AM

Agreed that privatisation should be completely shelved - no good reason to do it. The Land Registry isn't under-performing or failing, it's doing perfectly well. This government are desperate to privatise all our assets, no matter what the cost. They should be told, in no uncertain terms, that such actions are not on. While they're at it, they can renationalise the railways as well. I had the misfortune of using Southern the other day (for the first time in a while) - if that's the service offered by a private franchise, God help us all!

From: Algarve Investor 08 September 2016 10:22 AM

Who to believe? Someone is telling porkies. As usual with these things, it's probably somewhere in the middle. Even if there are enough bricks, there are clearly not enough new homes being built. That can't be disputed. Of the ones that are, too many are luxury apartments and hardly any are genuinely affordable to people on average or even above average salaries, particularly in London. Not just because of the house prices, but because of the high deposits now required - which many people take years to cobble together, not helped by ultra-low interest rates. Even then, assistance from family or inheritances are required. It's not sustainable. It's been that way for a long time now, but it's been getting worse and worse under the last three governments. Something needs to be done, but it seems as if the will isn't really there for a radical overhaul of the housing market. Lots of lip-service is paid to the issue, but nothing is ever actually done. Instead, we get things like the extension of Right to Buy (in England, at least), which is one of the reasons why we're in this mess now. And then gimmicky schemes like Help to Buy (which doesn't even seem to do what it says it's supposed to do), Shared Ownership and Build to Rent. None of these things, on their own, are enough - they're just papering over the cracks, and they barely managed that.

From: Algarve Investor 26 August 2016 14:01 PM

From: Algarve Investor 26 August 2016 13:20 PM

Shelter do a vital job, but - a little bit like James Corden and Clare Balding - they are suffering from being far too ubiquitous. If you appear all the time, offering your opinion on absolutely everything, and always looking to complain about something, you might start to irritate and annoy people. I know that's Shelter's job, to shine a light on government incompetence, marginalised groups and those affected by the housing crisis - and most of the time I agree with what they say - but there is a sense that they're too keen to attack all the time, rather than taking a more balanced stance.

From: Algarve Investor 26 August 2016 13:19 PM

Markets in turmoil, pound plunging, the PM gone, Leave backtracking on major claims, uncertainty over the triggering of Article 50, calls for a second referendum, the knives out for Jeremy Corbyn (again), a disappearing Chancellor, investment and jobs at threat, and places such as Wales, Cornwall and Yorkshire (who all voted for Leave) demanding that their EU funding is matched when we Brexit - and what has all this been for? To take back control of...erm...we're not really sure...er...everything will be alright on the night. Meanwhile, uncertainty for businesses such as mine and years of chaos, turbulence, a possible return to recession and a far more divisive and nasty country. No wonder the major players of the Leave side are keeping very quiet. We've heard a little bit from Boris, and almost nothing from Gove or Farage. You got us into this mess, now you sort it out.

From: Algarve Investor 27 June 2016 14:09 PM

Online agencies seem to be making a few waves at the moment. As I said yesterday, how much of this is just noise and bravado - and how much is actual concrete success - is up for debate. But I don't think online agencies will fade away and die as some seem to think. They've been around for a long old while now, and they're getting bigger and stronger - with more money and investment heading their way. The naysayers might not like them or what they stand for - and there are certainly some justified criticisms of the model - but they shouldn't be underestimated. Such complacency and such a dismissive attitude towards competition is never wise. I have friends and acquaintances who have used the services of an online agent and have been pretty satisfied with the service they've received. I have spoken to others who have been less satisfied. Like anything else, traditional agencies included, it's a mixed bag. But I've heard more positive reviews than negative, it has to be said.

From: Algarve Investor 17 June 2016 13:21 PM

Interesting stuff.

From: Algarve Investor 17 June 2016 13:17 PM

They are certainly causing a few shockwaves in the industry, whether they are real or imagined. We don't know for sure if all this is PR and bluster, or they can actually back up their strong assertions, but they certainly seem to be giving the big traditional agencies something to think about. Brand awareness and brand recognition is their trump card. It's better than any other online agent, and better than many of the high-profile traditional agencies too. Whether you like it or not, the distinctive purple branding is memorable and their adverts, though annoying, do feed into your consciousness.

From: Algarve Investor 16 June 2016 11:03 AM

Agree with this. You can disagree with RM and Zoopla and what they stand for, but to dismiss, ignore and denigrate their success just seems churlish and complacent. They have become the big beasts of the property industry - arguably the two most instantly recognisable names and brands - so they shouldn't be dismissed out of hand. I don't agree with Simon Barker - although I think he has a point - but to dismiss his opinion as totally invalid seems a tad too extreme.

From: Algarve Investor 07 June 2016 17:31 PM

Thanks. Just signed. Shocking that the government are trying to do this on the sly, without anyone noticing. I've not seen one good reason put forward for privatisation. This is ideology, pure and simple. Or, if I'm being really cynical, the chance for some rich person to get even richer. Hopefully, in the light of all this opposition, they will think twice. But I wouldn't bet on it.

From: Algarve Investor 24 May 2016 17:11 PM

Ridiculous plan. Let it be. It's doing fine without being sold off to the highest bidder. This government needs to get it into its head that not everything is for sale. Some things do work best when they are state-funded.

From: Algarve Investor 24 May 2016 17:09 PM

Hmm, not really sure where you got that from? Unless we're reading different articles.

From: Algarve Investor 24 May 2016 16:59 PM

Yep, that really was a foolish move. As was the one other portal rule. They made a rod for their own back with that nonsense.

From: Algarve Investor 23 May 2016 15:27 PM

Osborne and Cameron need to stop with all the scare stories and end of the world rhetoric. There are plenty of reasons why staying in the EU is a good thing, without having to resort to this base level fearmongering. People will say straight through it. Make the positive case for the EU, as the SNP, Labour, the Greens and the Lib Dems have been, rather than dragging politics into the gutter with all this "he said, she said" nonsense. (In the interests of balance, the Leave side have been just as guilty - if not more so - of scaremongering.)

From: Algarve Investor 23 May 2016 15:25 PM

As Del Boy would say: "what a 24 carat plonker!"

From: Algarve Investor 23 May 2016 15:21 PM

They say a week is a long time in politics...I think OTM/AM will now fully appreciate that sentiment. It does seem to have been one bad news story after another in the last few days, but they may yet survive this and come out stronger on the other side. I'm not so sure they will, but it'll be interesting to see what happens from here on out. What isn't in question, though, is the fact that it's been OTM's most difficult week since they launched.

From: Algarve Investor 12 April 2016 16:08 PM

Maybe they realise that OTM is a busted flush, they've been sold a dud, and that they want to get out before it's too late? I think that's a tad unfair - and agree with your point that Rome wasn't built in a day and OTM should be given more time to establish themselves - but there must be a reason why so many agents are jumping ship. Surely that can't be ignored?

From: Algarve Investor 12 April 2016 16:01 PM

That went well, then. They seem to have gone very quiet after the fake funeral stunt, perhaps they realise that big PR stunts only really work when you actually have something to shout about. Which easyProperty, for all the bright branding, TV adverts, Tube adverts and noise they make, don't seem to have much to cheer from the rooftops about. Has anyone sold, bought or let a home through them? If they didn't have the name to leech off, I doubt they'd be getting the amount of press coverage that they do. They just don't seem to do anything. They just come out with a PR stunt or expansion plan every six months and then go quiet again before the ridicule can be absorbed. It would be nice to know how well they're doing and if it's the Easy brand and big investors alone who are keeping them afloat.

From: Algarve Investor 11 April 2016 13:26 PM

This is starting to get a little tawdry. Hopefully it can all be sorted out in a civilised, adult way, but I fear that hope may be misguided.

From: Algarve Investor 11 April 2016 13:21 PM

"Overall, we see the launch of OTM as having actually strengthened the position of Rightmove by making it a stronger number one in the segment, with Rightmove now having circa 65 per cent more properties listed for resale than Zoopla" This is the crux of it, and exactly what OTM didn't want to do. They've turned the duopoly into a monopoly. By weakening Zoopla they've strengthened RM, who can now charge whatever fees they like because most agents know full well that they simply have to list on them. They're too big to be ignored. The RM bigwigs will know this very well. They have become bigger than the property industry. They don't need agents as much as agents need them. I think that's what (understandably) irks agents so much, but I don't think OTM is going to provide the answer to that particular problem.

From: Algarve Investor 08 April 2016 14:21 PM

Good point. London and the South East skews the market massively.

From: Algarve Investor 08 April 2016 14:18 PM

Yes, it does increasingly look like it isn't going to work for OTM. If they just lowered their ambitions and accepted a position as a decent, functional, fairly well-supported portal then I think they might do OK. But they were far too ambitious from the start. Attempts to oust Zoopla as the No 2 portal were always doomed to failure. It just wasn't going to happen, especially not overnight (or even within the first few years). The slow and steady approach would have worked far better, but Springett's ego made that impossible. He made far too many bold and foolish statements that have come back to bite. Now it's not going so well, he's staying very quiet in all of this. I don't know how much longer they will last. I don't think they are in as dire straits as some believe, but they don't seem to be making any progress. They seem to be treading water at the moment. The next 6 months will be an acid test to see what exactly OTM become.

From: Algarve Investor 08 April 2016 14:17 PM

Oh dear. Not very bright stuff. Well done to the ASA for sorting this out. I'm sure this goes on plenty - fake favourable reviews being posted on websites and Facebook pages throughout the country - but it should be stamped out as much as it can be. Estate agents rely on trust and building good relationships, how can that be possible if they mislead potential clients with fake reviews?

From: Algarve Investor 06 April 2016 16:41 PM

Can't disagree with any of that. Well said.

From: Algarve Investor 06 April 2016 16:37 PM

Someone will be benefitting from the stamp duty surcharge then!

From: Algarve Investor 06 April 2016 16:36 PM

Was always going to happen!

From: Algarve Investor 30 March 2016 11:13 AM

Osborne is making himself very unpopular in all parts of the country at the moment, but I never expected to bite hand that feeds him in such an obvious way. You would think many buy-to-let investors/landlords would be natural Tory voters and will feel now let down by George's actions after all the promises and spin. I agree with the idea that buy-to-let lending needs to be clamped down, especially if it is to the detriment of buyers elsewhere (particularly first-time ones). It seems inherently unfair to make it far easier for a buy-to-let investor to expand their portfolio to say, five properties, while a first-time buyer struggles to make it onto the property ladder at all. So I'm not against the idea of making buy-to-let less attractive, but it's been done in such a heavy-handed and clumsy way. And big corporations/companies aren't being hit in the same way as smaller landlords, which also seems inherently unfair. The Tories once again looking out for big money and big business over the little man - who'd have thought it!?

From: Algarve Investor 30 March 2016 10:55 AM

I think you make a very prescient point. Estate agency, more than ever, needs to move with the times and be ahead of the game, or they will be left behind. It seems likely that there will be the call for traditional agency for some years yet, but buyers and sellers will be looking for alternatives. If agents charge too much of a fee - and don't back this up with an excellent service - they will start to find instructions much harder to come by. I can understand the line of argument that traditional agents who have had a high-street presence in a local area for years would provide a more intimate, personal service, as well as more experience, knowhow and tricks of the trade than a purely online-based operation who have only recently entered the market. But it's not the case that every estate agent offers good value for money and a superb service. Many do, but many more don't. Therefore it's inevitable that people will look for cheaper, more flexible services. It'll only become a race to the bottom if the levels of service diminish. As we've seen with Lidl and Aldi in the supermarket arena, they have made the likes of Tesco, Waitrose and Sainsbury's up their game quite considerably. They offer cheap, good value produce, but it's high-quality produce. I think we are seeing too many online agents entering the market - and traditional agents, for that matter - but it looks like hybrid, where the best of both worlds are merged, will be the way forward for agency. I think an eBay-type thing will be the future - it's no doubt something the likes of RM and Zoopla already have in mind - but we won't reach that stage for a few years yet.

From: Algarve Investor 23 March 2016 15:17 PM

There is definitely an element of race to the bottom and dumbing down about all this. I don't know what to make of Purplebricks. They make a lot of noise and everything about them is very loud and in-yer-face - from their branding to their awful TV adverts. But they don't seem to be very successful at the bread and butter of estate agency. On the other hand, they have plenty of big money behind them, tonnes of PR and name (and brand) recognition that many trad agents would die for. I just think, like CW and Foxtons before them, they are biting off more than they can chew. Too ambitious, too many PR own goals, too much style over substance.

From: Algarve Investor 23 March 2016 15:08 PM

Local councils definitely have a part to play, but a lot of developers are hoarding land as well. I like the noises being made about the regeneration of brownfield sites, but this seems to be a very slow process and I have worries about just how affordable the homes built on these will be. And, of course, brownfield sites are often snapped up for retail or leisure purposes, so there is no guarantee that these sites will be set aside for housing, despite the government's promises to the contrary. The real scandal in all this is the number of empty homes that we have in this country. Abandoned, derelict, boarded up properties that could become perfectly inhabitable with a bit of investment and clever thinking. Then there is the Buy to Leave brigade - surely this is something that can be stopped? If you have no plans to ever live in a home, how is it right that you are simply allowed to sit on investment as it price soars and your bank balance bulges. At the very least let it out or turn it into a holiday rental home for tourists. It's not allowed in other European countries or across the rest of the world - but the Buy to Leave brigade get away with murder in the UK. They should be getting far more criticism than the buy-to-letters, in my view.

From: Algarve Investor 17 March 2016 13:21 PM

God, this debate is going to rage on an on! Four more months of this to come. I still don't think most ordinary people are any clearer on the pros and cons of the EU and the pros and cons of leaving. It's extremely disingenuous of the Out side to say everything will be fine and dandy if we come out, and it's only the nasty EU who are stopping us from becoming a "great" country again. By the same token, the In side haven't been above scaremongering themselves. As expected, it's already descended into a tawdry farce, with Cameron mocking members of his own party and the more extreme Outers doing their best to divide the nation. Plus, of course, that absolutely dreadful video from Grassroots Out, which would turn anyone on the fence towards a vote to remain. I'm In, for obvious reasons, but I won't be forcing my opinion on anyone else. It's too important a decision for party politics to come into it. But, like with the Scottish referendum, I fear it's only going to get more and more nasty, with the more rabid nationalists making fools of themselves and MPs from both sides of the argument treating us like braindead idiots. Right, that's it, I'm off to Portugal for the next four months. I can't stand the endless coverage and the endless war of words. It's only been just over a week since Cameron's announcement and I'm already fed up of it all!

From: Algarve Investor 01 March 2016 14:43 PM

But who are these homes being sold to? I thought no-one was buying. A breakdown of who was actually buying these properties might be helpful. Also shows, once again, that demand is outstripping supply to a ridiculous level in many places. And for every Dartford, there is a Darlington, a Bradford or a St Helens, where homes are staying on the market for much, much longer.

From: Algarve Investor 24 February 2016 12:00 PM

Conveyancers seem a popular target of abuse from estate agents. I think, in some cases, they are scapegoated far too easily. It's not always the fault of a conveyancer for a slow transaction. I have heard many horror stories about solicitors taking far too long to process stuff and push it through, but I can't believe that is the case with every single conveyancer. They do a hard, thankless task and probably get criticised a little too easily for it. Estate agents should know all about getting a bashing when it's not totally warranted, so I'm surprised by some of the comments here and just how strained the relationship between agents and conveyancers is. Given how vital a role both play in house sales, that's quite worrying. Both sides seem keen to blame the other, so I'm no clearer who is actually at fault here.

From: Algarve Investor 24 February 2016 11:56 AM

Not doing the reputation of estate agents any good whatsoever.

From: Algarve Investor 22 February 2016 15:10 PM

The government taking credit for something they played no part in? Never. I won't believe it. Sarcasm aside, it is quite heartening to see that Brandon Lewis is back on the scene - where has he been in recent months? He doesn't seem to do a lot or have much say in Tory housing policy. Very bizarre, especially given his experience of the property industry itself. You would have thought they'd see him as more of an asset than they have so far.

From: Algarve Investor 22 February 2016 15:09 PM

What a surprise!

From: Algarve Investor 22 February 2016 15:04 PM

I don't believe it not's butter. Never in a month of Sundays. There must be something afoot here. The government's flagship starter homes - that they promise will be genuinely affordable to first-time buyers - aren't actually affordable at all. You couldn't make it up! Given the government seem to have different classifications of affordable to most ordinary people, this isn't exactly surprising. They really don't help themselves, do they? This isn't just an government issue, developers and housebuilders need to pull their finger out as well. If we actually built an appropriate number of affordable homes, the need for gimmicks like "starter homes" wouldn't be there. The number of empty homes in the UK, too, is a disgrace. So much more could be made of these properties, if the will was there. Sadly, I fear it's not.

From: Algarve Investor 17 February 2016 14:50 PM

Absolutely ridiculous. What are Countrywide thinking? I hope their staff tell them where to go, in no uncertain terms. 7am-9pm, are they having a laugh? A 14-hour day? Estate agents work far too many hours as it is, why increase those hours? I despair.

From: Algarve Investor 09 February 2016 09:46 AM

From what I've heard of them - which, admittedly, isn't all that much - they aim to alter the perceptions of traditional estate agents by being more open and honest in their activities. A more casual approach to selling and buying, an attempt to make estate agents feel more human and less mean and greedy. I have no idea if they've achieved that - although they've now got four offices and obviously get a fair bit of press coverage thanks to the Apprentice connection - but it's not the worst idea in the world, is it?

From: Algarve Investor 08 February 2016 15:12 PM

Yep, this is a pretty poor show. A bit of a PR own goal from Connells - I hope they act quickly to rectify this.

From: Algarve Investor 08 February 2016 15:07 PM

Doesn't make it any less true, does it? Do you not believe London is heading for a house price bubble? It's a serious issue that needs to be discussed. The fact that academics are now entering the discussion shows the severity of the situation, doesn't it?

From: Algarve Investor 05 February 2016 09:39 AM

What? I'm shocked. And in others news...the Pope's still Catholic. Demand massively outstripping supply and only getting worse, but still the government refuses to act. Schemes with questionable efficiency and a rebranding of what is affordable just isn't going to solve this problem. What is the government's agenda? It's almost like they need house prices to remain high...

From: Algarve Investor 28 January 2016 11:53 AM

"The firm’s network covers south east London and north west Kent and the firm says a significant part of its success is down to its opening hours - 9am to 7pm seven days a week, with only three Bank Holidays shut annually." How many staff do they have to make this viable?

From: Algarve Investor 28 January 2016 11:51 AM

Exactly what I was thinking!

From: Algarve Investor 28 January 2016 11:49 AM

Not hugely surprising. Probably the two most disliked professions in the country at the moment are politicians and estate agents. It will take a long to change that deeply-ingrained apathy. I think, on the part of estate agents, it's pretty unfair. Generally speaking, most do a good, honourable job. As for politicians, well...

From: Algarve Investor 25 January 2016 09:11 AM

From: Algarve Investor 25 January 2016 09:09 AM

Mr Cameron not answering the question? In the immortal words of Victor Meldrew - I don't believe it! Does Cameron ever get a straight answer to a straight question? I'm still yet to witness it if he ever has.

From: Algarve Investor 25 January 2016 09:08 AM

They certainly seem to be booming at the moment. Will be interesting to see what happens in the future - whether they go fully hybrid, whether they try and stick to a more traditional model, how much further they expand. It all seems very up in the air at the moment but you can't deny the impact they are having - they seem to be the name on the lips of nearly everyone in the property industry, very much flavour of the month.

From: Algarve Investor 22 January 2016 16:49 PM

Spot on. There is room for everyone and these debates just encourage division. Having said that, it should still be interesting and entertaining, although whether Mr Quirk (or Mr Bruce for that matter) need any more minutes in the limelight is up for some debate.

From: Algarve Investor 14 January 2016 11:37 AM

Looks like a bit of a vanity project from wealthy young entrepreneurs. Could be wrong, but that's the impression the pic gives off. Also not sure about the name. Still, I wish them luck. They are certainly showing some serious ambition, especially with the amount of advertising they are committing to.

From: Algarve Investor 12 January 2016 10:56 AM

"eMoov accuses agents of “lining the pockets of their designer suits,” of “cashing in big time” and charging “a stifling amount of money to sell a property.” They might have a point here, but only with certain agencies (primarily those operating in prime areas). I think it's a bit of a sweeping generalisation - to say the least - to say every estate agent in London adheres to the greedy, dishonest estate agent stereotype regularly peddled in certain parts of the press. There are a few who charge far too much and are cashing in big time, but this is the exception rather than the norm. Just seems like Mr Quirk is fishing for a reaction again. No surprise there.

From: Algarve Investor 11 January 2016 10:57 AM

Oh Russell, you just can't help yourself, can you? Full marks for entertainment value, it has to be said.

From: Algarve Investor 11 January 2016 10:50 AM

Well said. The Scottish system isn't perfect - no system is - but it does give a lot more protection to buyers and sellers than is the case in England and Wales and, incidentally, much of Europe.

From: Algarve Investor 07 January 2016 08:22 AM

Hmm, smacks a little of them trying too hard to prove a point. Who are they trying to kid? Reminds me of any film trailer or advert for an upcoming TV drama - endless platitudes, good reviews, hype and praise, when in some cases none of this is deserved or warranted. Not that I'm saying that there aren't branches/agents who are happy with OTM's service - clearly there must be - just that it all seems a little hollow and manufactured. Almost like a middle finger to the naysayers, to say "you know what, we're doing pretty well and we'll be around for a while yet. So ner ner ner ner." I think this also needs to be highlighted: "OnTheMarket has previously said repeatedly that it would overtake Zoopla by its first anniversary, but there was no reference to this in its latest press release." So we can deduce from this that it hasn't happened, as most sensible people predicted. Bit embarrassing given how much fuss they made about it. Maybe Springett can come out and tell us why it hasn't happened yet and when he does expect OTM to become the number 2 portal. If he'd been a bit more pragmatic, realistic and modest in his ambitions and forecasts, he wouldn't be looking so silly now. Nothing wrong with ambition, but only if you can back this ambition up with results.

From: Algarve Investor 07 January 2016 08:21 AM

Hi Sara, thanks for the explanation. Very fair points. Still not sure if 1,000 can be truly representative, but it's a decent chunk of homeowners and throws up some interesting results. Thanks again.

From: Algarve Investor 06 January 2016 16:02 PM

Indeed. Don't get me wrong, I think history, heritage and tradition are massively important, but sellers will want to know how the agent in question can get their home sold/let rather than if they were around when Dickens was roaming the streets on one of his famous walks or one of the first railways were open. On the other hand, the fact that Portico have been operating since 1818 is really quite impressive and shouldn't be dismissed out of hand. But it's not the be all and end all, especially if the agency can't now do the business in 2016.

From: Algarve Investor 06 January 2016 10:42 AM

Agreed. Well said. As long as quality is kept us, who cares what fees are charged? I always say this, but just because an agency charges high fees doesn't automatically make it of a higher quality than one charging cheaper fees. I'm always a bit wary of these surveys, because how can they in any way be representative. We don't know who was asked, how old they were, what demographic they fit under. And if you asked another 1,000 people they might tell you something different.

From: Algarve Investor 06 January 2016 10:35 AM

"In an ideal world, the housing market would offer affordable and flexible accommodation across all tenures, provided by a mixture of private, institutional and social investment. But several decades of gross mismanagement of the nation's housing have, sadly, made this extremely difficult to provide." You've hit the nail on the head here. Well said. Until there is widespread changes to the housing market, this is all just gimmicky nonsense and tinkering around the edges. Successive governments have failed, for decades, to address the serious issues with housing in this country. And it looks like it's going to take another few decades - or a massive property crash in the next few years - for the government to wake up and take some decisive action.

From: Algarve Investor 05 January 2016 13:15 PM

Sorry, Richard, but I don't agree. I agree with the point that this is a slightly odd and risky move, but I don't agree with your point that "all of these guys" - which I assume to mean online agencies - will just disappear into a puff of smoke at the first sign of trouble. Some of them, like Tepilo and eMoov, have been around for a while now and have established themselves, whether you like their business models or not. Purplebricks won't be going anywhere soon, neither will easyProperty or Hatched. They all have plenty of money behind them and PR teams to match. They're in it for the long-haul. There has been a proliferation of online agencies entering the market in recent years and I'm with you in believing that this is unsustainable - some will inevitably fall by the wayside. But the same can be said for high-street agents too. They're not indispensable. The big boys and girls, though, won't be going anywhere. Agencies like Tepilo, Purplebricks, eMoov and easyPropery have invested far too much time and money to just give up and retreat with their tails between their legs.

From: Algarve Investor 05 January 2016 12:09 PM

Agreed. They have a tough, thankless job which, for the most part, they do very well.

From: Algarve Investor 30 December 2015 15:19 PM

Oh Russell, it wouldn't be Christmas without a present from you. To be fair, I don't entirely disagree, but I expected nothing less from the relentless eMoov PR machine. You've got some competition now, with Purplebricks and easyProperty both ramping things up over the last few months. 2016 should be an interesting year and I'm sure that a fair few traditional agents will have something to say about Russell's assertion!

From: Algarve Investor 24 December 2015 09:28 AM

I'm sure it does. For one, it has very distinctive purple branding. Secondly, it has quite an interesting name. Thirdly, their PR machine is relentless, with adverts on the Tube, TV and on the side of London buses, not to mention in papers and online. Nonetheless, I do fear they have more interest in becoming a brand, a name, than actually selling or letting houses. The similarities with easyProperty are, once again, clear to see. I don't doubt that Purplebricks brand recognition is excellent, but that doesn't mean much if they have to be propped up by rich investors rather than actually succeeding at the bread and butter of estate agency.

From: Algarve Investor 23 December 2015 11:02 AM

Yes, can't really disagree with much of this. Whether any of these measures are implemented is a whole different ball game. I do have some faith, given how much focus the two main mayoral candidates have placed on housing, but I seem to remember Boris saying something similar in his two campaigns and it has borne very little fruit. Where is all the affordable housing that was promised? So I'll remain sceptical but hopeful.

From: Algarve Investor 22 December 2015 13:41 PM

Debt has risen to absurd levels under this government, but that doesn't seem to get mentioned much. I agree that interest rates should be raised sooner rather than later, but I have severe doubts about whether that will happen. I think the BoE are being very cautious and will continue to be very cautious while the world economy - thanks to low oil prices and uncertainty over Europe - is still unstable. I just can't see Carney & Co taking such a big risk, can you?

From: Algarve Investor 22 December 2015 13:38 PM

All predicting further price rises to values that are already at record levels, even if these rises are more modest than 2015. This suggests that the supply side issue will not be sorted out and, rather than houses becoming more affordable (as the government is continually telling us), they will actually become ever more unaffordable and many more people will continue to be priced out of the buyers' market.

From: Algarve Investor 16 December 2015 14:08 PM

I agree that it's pretty depressing reading, but PCL operates on a whole other level to almost anywhere else in the world. This market has grown considerably over the last few years and now encapsulates many more areas. It used to be quite niche, including only the really affluent areas like Chelsea, Knightsbridge, Mayfair and Notting Hill, but its reach seems to get bigger every year, which is a worrying trend. The PCL might be slowing slightly, but its average price is still very high and will remain that way until London is no longer attractive to super-rich overseas investors. There are pros and cons to luring these super-rich people. Supporters of it will say it brings in much-needed investment and helps to support the economy, critics will say it leaves homes empty, pushes up prices across the capital, makes property more unaffordable for the many and is actually bad for London's economy because these foreign investors don't actually spend time in the city where they've brought property - they just see it as a nice investment, a little nest egg to sit on as it goes up and up in value. If these investors aren't living in the city, they're not contributing to the local economy. They're not visiting local restaurants or shopping in local shops, or using public transport, or going to the theatre or museums, etc, etc. I have to say I'm sympathetic to this second point of view. While there might be an initial period of readjustment in the short-term, in the long-term not turning London into a haven for the super-rich can only be a good thing. London is not Monaco or Luxembourg or Jersey or the Cayman Islands. It's one of the biggest, richest, most-visited and most diverse cities in the world. People from all walks of life should be allowed to live there. At the moment, the very poorest are being driven out. London without people living there will soon grind to a halt. So we need to be very wary of pricing too many out.

From: Algarve Investor 16 December 2015 14:03 PM

I agree with the general sentiment that it's a good idea. Maybe, once it's been going for a few years and has developed a reputation as the go-to source for house price data, the competition will begin to fall away. There are too many different Indexes and reports as things stand - and, as Rob Davies points out above, they all have varying results anyway - so it would be nice if there was one central place where this data could be compiled, free from bias or agenda or political engineering.

From: Algarve Investor 16 December 2015 13:54 PM

Well, what a surprise. But will the government listen? Doubtful. Now where's that petition?

From: Algarve Investor 15 December 2015 12:08 PM

The teaser video is awful. To be fair, I think Zoopla tend to do adverts better than most property firms - Purplebricks and easyProperty, I'm looking at you! - but they do tend to be a little bit naff rather than very memorable.

From: Algarve Investor 15 December 2015 12:06 PM

Exactly. The attitude from successive governments towards housing has been one of casual disdain. They have allowed house prices to go out of control, they have allowed buy-to-let investments to go out of control, they have allowed the pressure on the PRS to go beyond anything it can cope with. What we really need is a cross-party agreement on housing, to provide affordable homes to buy and affordable homes to rent for all. Just look at the issues with social housing. How about, instead of selling off our social housing stock, we start using it to house those who need it most. How about we stop driving people out of London with high rents and insane house prices and start to build some homes that are actually affordable. How about we say no to Buy to Leave. We need to start looking towards Germany and Scandinavia for a better model. France, too. Here in Portugal, the housing market resembles something much closer to normality (i.e. house prices aren't rising four times as fast as wages or whatever it is in England). After the war there was a massive housebuilding programme. In the 70s it was the same. What has happened since then? Right to Buy definitely didn't help, neither has this obsession with house prices continually rising (and that being seen as a good thing). We shouldn't blame the buy-to-let investors or landlords or even the foreign investors who are eager to buy luxury properties in London. As an investor in overseas property myself, it would be hypocritical of me to say all foreign investment should be restricted or that buy-to-let should be completely scrapped. But in the UK investing in property from overseas is far easier than anywhere else on the Continent. The UK is also seen as the most lucrative place to buy property, especially London. That might not be such a bad thing if our housing market was in a stable condition, but it patently isn't. People can't afford to buy and they can't afford to rent. People can't afford even 5% or 10% deposits on homes because you need to be earning £50,000 to even make this feasible. You also have the ludicrous situation where, if you can actually buy a home, mortgage repayments are cheaper per month than rent. There are no easy answers to this, but if the government continue to bury their heads in the sand and hope that shared ownership, Help to Buy and Rent to Buy will solve the housing crisis, then we won't be moving forward anytime soon.

From: Algarve Investor 08 December 2015 11:04 AM

"A leading bank is forecasting that if interest rates do not rise next year - as some experts predict - then there will be massive house price increases." Just what we need - house prices going even further out of reach for everyone bar the super-rich. Great.

From: Algarve Investor 08 December 2015 10:48 AM

As I've said numerous times before, I really don't understand the animosity towards online agents from traditional agents. Surely, if you're so convinced that they are going to fall flat on their face, it would be better to sit back and watch that happen from a distance? Then you can say "I told you so" without coming across as smug and patronising. It may have escaped your attention, but online estate agents aren't going away anytime soon. In fact, they are growing in numbers. Granted, many are fairly rag-tag operations, but there are plenty who have a fair bit of nous and investment behind them. In many cases, online agencies are created/founded by former traditional agents who have grown disaffected with the traditional model. Purplebricks, eMoov, House Simple, easyProperty, Tepilo - these are names people are starting to hear about on a regular basis. They have significant PR teams behind them and, as I said before, plenty of big-money backers. They aren't just going to die a death. You can be sceptical about what these big onliners have actually achieved and the wisdom of them floating and valuing their businesses in the millions, but you can't deny they are having an impact. People will look for cheaper options when times are tight, that's just a fact of life. Do estate agents justify the high fees they charge? In some cases, yes. In some cases, no. Again, you could argue that the flat fee onliners bang on about is nothing of the sort - £595 (of whatever it may be) can soon turn into quite a bit more. But, in an increasingly digital world, people will seek out alternatives. If they see that they can get their home sold for £595, that is something that is going to lure them in. High street agents have to deal with that and show how their model is superior.

From: Algarve Investor 08 December 2015 10:46 AM

Can't help but agree. Where are they getting this £240.3m valuation from?

From: Algarve Investor 04 December 2015 09:43 AM

We must be looking at different websites. Granted, they tend to be smaller, one or two office operations that probably don't have great wads of cash to throw at glossy websites, but nonetheless there are some horrors out there. Maybe we have different definitions of what makes a great website, but there are ones out that are eyesores at best. That's not to say that online agents always get it right - some websites for online agents are equally terrible, which means their USP has kind of gone down the pan before they've begun - but away from those agencies who really plough the money in, there are plenty who have sites that are doing them more harm than good. I can't think of any massive innovations off the top of my head. As I've said, I'm no advocate for online agents. I think hybrid is the best way forward. But I don't think the entire model should be written off quite so casually. They can't all be terrible, surely? That just doesn't stand up. Purplebricks, whatever you think of them (and their ads really get on my nerves), are clearly doing something right. eMoov, Tepilo, House Simple. You could argue about how much success they actually have, but they are certainly names people will have heard of. As I said, I also can't get on board with the implication that traditional = good, while online = bad. You seem like you've been in the industry for a while, surely you've seen agents who are good, brilliant, bad and indifferent? They can't all be wonderful, surely?

From: Algarve Investor 03 December 2015 12:55 PM

Yes, but it's an important one nonetheless. Wouldn't you agree?

From: Algarve Investor 03 December 2015 09:22 AM

I agree, Smile Please. Many high street agents already have most, if not all, of the elements that online agents say make them unique. But not all traditional agents. Some still don't embrace social media, some still haven't embraced the portals, some still have websites that look like they've come direct from the late 80s. Have you seen the websites of certain small and medium size agencies? They are, in some cases, an assault on the eyes. As more and more people head online to search for and sell property, there is a chance that these agencies who don't buy into the new-fangled ways of doing things will die out. Do you also not believe there is a place for both in the market? If high street agents are so sure that the online model is a load of rubbish, why do they get so defensive about them? That's what I never understand. If there's no threat, why all the shouting? And the idea that because online agents are cheap their service must be rubbish just sounds like snobbery on your part. Because a high street agent charges more doesn't mean they automatically offer a superior service. There are high street agents out there who offer a shoddy service, while there are online agents who offer a very good one. To use the analogy of a restaurant. You can go to a really basic, unflashy and authentic place and the service and food could be amazing, but you only pay peanuts. There are plenty of these in Portugal, for example. By the same token, you could go somewhere really upmarket and poncey and pay an arm and a leg for poor food and service. It's the same with agencies. A high street agent might charge you high fees and offer a really poor service, while an online agent can charge £595 and provide a brilliant, professional and efficient one.

From: Algarve Investor 03 December 2015 09:21 AM

Interesting idea. Not sure it will catch on, but I admire their ambition and bravery in trying something a bit different. I also agree that hybrid is the way forward, but many agencies already do this, with smart, glossy websites, a significant presence on the portals and social media, and in many cases a dedicated online strategy. Traditional agents, for the most part, have embraced the online model. There is still going to be this argument about fees. Traditional agents will say they justify the commission they charge with the amount of work they do get a home sold. Online agents will say all this can be done for much, much less. As long as quality isn't diminished, there is a place in the market for both. And, at the end of the day, the consumer will decide. It seems like both models are thriving at the moment, so neither looks like dying out anytime soon. Until we all start selling our homes via other means, that is!

From: Algarve Investor 03 December 2015 09:11 AM

From: Algarve Investor 03 December 2015 09:05 AM

And so it continues. This just sounds like gleeful boasting from Zoopla. They could try and have a bit more glass. On the other hand, OTM has been bullish in its attacks on Zoopla and Springett has regularly insisted that OTM were days away from overtaking Zoopla as the number 2 portal. So you reap what you sow, I suppose.

From: Algarve Investor 03 December 2015 09:04 AM

Exactly. They've been hit, now they're bouncing back. I'm sure I'm not alone in finding this endless slog between OTM and Zoopla - with both sides guilty of childish behaviour at times - tiresome in the extreme. OTM aren't going to be overtaking Zoopla as the number 2 portal anytime soon, they probably won't ever do it. So can we just be done with the petty rivalry for a while?

From: Algarve Investor 02 December 2015 10:00 AM

"All 19 analysts involved in the survey admitted that London homes were now ‘unaffordable’ or ‘very unaffordable’ while 14 of them insisted the national housing market was not ‘unaffordable’." I'd agree with this, up to a point. The London market is on a whole other level and, to be frank, is way out of control. It's getting silly, it really is. Much of the rest of the country isn't anywhere near the sort of prices you see in London, but parts of the South East and commuter towns close to the capital are seeing prices rising at an alarming rate. Oxford, too, is often classed as one of the most unaffordable cities in the UK. Bristol, Cambridge, Bath. All these places are seeing prices rise way above wages. It's unsustainable and won't be solved until the supply side issue is sorted. The government is making all the right noises about this, but sadly their record on housebuilding is nothing to shout out about (very far from it!). It's almost like there are vested interests in keeping prices high. Hmmm.

From: Algarve Investor 02 December 2015 09:12 AM

Obviously people don't want to live in tiny rabbit-hutch homes, but as a nation we have always had smaller homes than our cousins on the Continent. Compare and contrast homes in Portugal and Britain and the difference is staggering. We've always made the most of the space we have, because we like to have a bit of garden and we like to live in the city, where more cramped housing is necessary. There is a difference between cramped/uncomfortably small and cosy. Part of the charm of homes in Yorkshire, parts of London and other places across the UK are their squeezed, higgledy piggledy, haphazard nature. We're famous for it. A space standard is no bad idea, but we have to remember that small homes is nothing new. It's been that way for centuries.

From: Algarve Investor 02 December 2015 09:05 AM

Interesting to read a positive review about an onliner. That doesn't seem to happen much on here. My views on the traditional v online debate are a bit conflicted. I think there is a place for both in the market, but part of me worries about a race to the bottom if all these new agents keep coming on to the market. Traditional agents will eventually have to slash their prices to compete. Some would argue that that's no bad thing, and I'd partially agree, but quality of service would have to be maintained across the board. I don't think fairly childish insults like the above really help matters, but this kind of playground animosity comes from both sides all the time.

From: Algarve Investor 25 November 2015 10:22 AM

Help to Buy, is that still going? Because it's been doing exactly the opposite from what people I've spoke to have told me. A disastrous policy that has done nothing to help the majority of first-time buyers. I'm surprised it hasn't been scrapped yet. I hear Mr Osborne will also be announcing schemes for 400,000 new affordable homes by the end of this Parliament. Call me cynical, but I'll believe that when I say it given this government's dismal record on housebuilding.

From: Algarve Investor 25 November 2015 10:17 AM

There will always be chancers who will take as many risks as possible to make as much money as possible. Greed, pure and simply. As you say, I'm sure many do get away with it unscathed. But swindling clients out of over £350,000. You're gonna get found out eventually, aren't you? What a foolish, foolish man, in more ways than one.

From: Algarve Investor 18 November 2015 10:27 AM

Yep. House prices do seem to only be going one way and the government seem perfectly happy with that. Something's got to prop up our economy, because it's certainly not manufacturing or construction. As ever, the issue is one of supply and demand. Massive demand, barely any supply. I'm still waiting to see any of these affordable homes that the government keep banging on about relentlessly. And what constitutes affordable these days?

From: Algarve Investor 18 November 2015 10:25 AM

Good! Foxtons will try and get away with anything so it's always refreshing to see them knocked down a peg or two. Their sheer arrogance is astounding.

From: Algarve Investor 12 November 2015 11:10 AM

As Basil Fawlty once said, can we get Liberum on Mastermind with the specialist subject of stating the bleeding obvious. Did we really need a City analyst to tell us what we all knew already, what we've already been told by other City analysts for the last six months?

From: Algarve Investor 12 November 2015 11:09 AM

@Steve - unfortunately you are completely on the money. Depressing, but inevitable.

From: Algarve Investor 11 November 2015 14:14 PM

Yes, this clearly needs to be policed better. How that is done might be a little more problematic. These agencies who are stealing photos and words need to have a long, hard look at themselves and realise what they're doing. As Dee London says, it's totally unscrupulous behaviour. And totally unnecessary.

From: Algarve Investor 11 November 2015 14:11 PM

Prices keep going up, rents keep soaring, the number of buy to leave properties continue to increase at an alarming rate, and everyone but the government can see it. They'll keep sticking their fingers in their ears and burying their heads in the sand until this all hits the fan. Then they'll blame someone else for the mess they (and, in fairness, successive governments) have caused. Surely this can't be sustainable in the long-run, where £300,000 for a one bed-flat is seen as "affordable" and people are paying out half their wages on rent. Surely something has to be done? On the other hand, the dream to turn London into the plaything of the super-rich is going swimmingly. So I see no reason why that particular boat will be rocked. Don't want to put off the oligarchs and the super-wealthy Middle Eastern investors now, do we?

From: Algarve Investor 10 November 2015 09:49 AM

Sounds like a sensible move. I wish him good luck in the new role! The TPO play a valuable and underrated part in the property industry and should be appreciated more at times.

From: Algarve Investor 10 November 2015 09:45 AM

Sounds naff, doesn't it? The right sort of idea, yes, but they could have thought of a slightly less cringeworthy name.

From: Algarve Investor 27 October 2015 15:09 PM

Just what the housing market needs...Not. But the government are sorting this problem out, right? They're building enough new homes, and affordable homes at that, aren't they? Oh, what's that, they're not. I'm getting fed up of every industry expert under the sun coming out and telling us we need more homes, every right-minded person in the UK saying the same thing, and the people at the top not acting. Too busy getting defeated in the HoL over their ridiculous cuts to tax credits.

From: Algarve Investor 27 October 2015 15:07 PM

They'll have to open about a million new branches, annoy the locals with their brashness and score regular own goals in the PR stakes to achieve that. And maybe a fleet of cars with naff, garish branding would help their cause.

From: Algarve Investor 26 October 2015 10:47 AM

"ask a sample of say 5,000 people on the street and I bet 80% will know RM & Z whilst hardly anyone will have heard of OTM, irrespective of how many TV ads they produce" That's the crux of it and always has been. OTM were never, and never will, match the reach and levels of brand awareness the big beasts do. No matter how many glossy adverts they produce, it just isn't going to happen. More people know about Purplebricks, Tepilo and easyProperty than they do about OTM, which says it all.

From: Algarve Investor 26 October 2015 09:34 AM

Ambitious, but wouldn't surprise me if they did it. The speed of their expansion in recent years has been very impressive.

From: Algarve Investor 21 October 2015 13:29 PM

It is all getting very silly. I mean, in the case above, fair enough - they clearly weren't running a 7 day a week operation. But it does seem a bit petty, and a case of agents reporting each other far too much, when these stories continually come to light. You don't often see the really big agencies being challenged on the wording in their adverts. You don't see certain online agents being challenged on their claim that the services they offer are truly 24/7. Seems more like petty politics between local agents. Fair enough, adverts should be accurate not misleading, but there is a sense of complaining for complaining's sake about all this.

From: Algarve Investor 21 October 2015 12:24 PM

Yes, a key reason why we beat the Aussies on their own patch four or so years ago. Never really pushed on from there. He was always in an out of the team because of injury - not surprising, given how fast he bowled and the battering he gave to his knees and legs every time he ran in full speed ahead. Still, an interesting change of career path. Makes a change from punditry, coaching or appearing on Strictly, I suppose! Good luck to him.

From: Algarve Investor 01 October 2015 10:48 AM

Ooh, looks like you're not alone, Richard. My paragraphs have disappeared too.

From: Algarve Investor 29 September 2015 13:58 PM

It still makes perfect sense, Richard. Interesting to hear your experience, although it doesn't exactly inspire confidence in the online model. I'm still on the fence about them. I think, in some cases, they can do a very good job, as good as a traditional agent. And there will always be an appetite for cheaper fees and greater innovation. We also know that cheaper doesn't necessarily mean worse. Like with anything, there will be good online agents, bad ones and average ones. Just like the traditional model. What baffles me is, if trad agents are so convinced that online agents are no threat, why do they get so defensive about them? Also, the fact that the online model has been around for 15 years suggests it's not merely a short-term fad. And more and more of them are entering the market.

From: Algarve Investor 29 September 2015 13:57 PM

If the loophole is there, people will always exploit it. Closing each and every loophole is difficult, if not impossible, so this sort of stuff is always going to happen. Sad fact of life.

From: Algarve Investor 23 September 2015 17:43 PM

Interesting findings. They do say this time of year is the best time to sell - just after summer, just before winter hits. These figures certainly tally with that.

From: Algarve Investor 23 September 2015 17:41 PM

You're leaving us hanging, Trevor. Unless the solution is really obvious and I'm just being a bit dense. Which, to be fair, is a possibility.

From: Algarve Investor 23 September 2015 17:39 PM

Fair play, but a no doubt huge investment from Mr Caan slightly skews things. I agree with Fake, though. He might come across as objectionable at times, but I think it's largely an act and he clearly knows what he's doing. There is a reason why they are the online agency that everyone has heard of, so hats off to him for that!

From: Algarve Investor 22 September 2015 16:30 PM

Indeed. Very good to read. We don't get to hear about many acts of kindness from within the property industry - Agents do Charity aside - so this should be shouted about from the rooftops. Congratulations to all involved and other agents should follow suit. If more of these empty properties were actually put to use, we might not be in the mess we currently are when it comes to housing.

From: Algarve Investor 22 September 2015 16:20 PM

Alex, are there any plans to expand Zoopla's operations overseas?

From: Algarve Investor 06 September 2015 15:11 PM

Does the Home Condition Report no longer exist, Phillip? Just typed it in on Google and it brings up quite a few recent results. From my experience, it's the cheapest and best way to get a thorough "health check" of your property.

From: Algarve Investor 03 September 2015 10:28 AM

Point is, Glenn, the government haven't stuck to their previous promises on housebuilding, so why should we trust them now? The coalition government presided over the lowest level of housebuilding in decades. Demand is still vastly outstripping supply and that isn't going to change anytime soon. We need more houses, yes. Do I trust this government to do that? No. A big fat no. Do I think there will be 200,000 affordable starter homes by 2020? Again, a big fat no. Affordable these days seems to mean a large deposit and a massively over-inflated asking price.

From: Algarve Investor 27 August 2015 09:32 AM

"The agency says that at recent launch weekends for both branches, its teams of sales and letting agents welcomed local residents with 'freshly baked muffins and other goodies'." So it's all sweetness and light at Foxtons really? Pull the other one!

From: Algarve Investor 27 August 2015 09:28 AM

Spot on, AC. From the people I've spoken to, who know far more about these matters than me, they have similar concerns to you. Demand is very much there, supply is still very much not.

From: Algarve Investor 25 August 2015 09:37 AM

From: Algarve Investor 19 August 2015 11:40 AM

A brave an innovative move, I have to say. Good luck to them! I don't think lower fees has to mean a race to the bottom as some agents seem to think. Some agents feel justified in charging high fees or commissions for the service they offer. Fair enough, but I think it is definitely the case that certain sellers are peeved that estate agents can get such a large cut for, in some cases, doing very little. Fees are too high and people will inevitably look for cheaper elsewhere. Of course, they'll want the service to be as good, if not better, when they go elsewhere, which isn't always going to be the case for less money. But, at the same time, higher fees doesn't automatically mean better service. You see it with high-end hotels and restaurants - more expensive doesn't necessarily mean superior.

From: Algarve Investor 19 August 2015 11:40 AM

I doubt we'll ever get the true story here. It's like politics, both sides will insist they're right - and come up with evidence to prove it - until they're red in the face. There is unlikely to be much compromise, so this will drag on and on. As far as I can work out, it goes something like this: OTM's launch hit Zoopla much harder than RM because more agents defected from Z than their main rival. OTM enjoyed a post-launch bounce but haven't been able to build on this and have, if anything, gone backwards. Zoopla, on the other hand, have hit back, recovered and regained agents from OTM. They remain the No 2 portal, still way behind RM but also way ahead of OTM. Is that about the crux of it?

From: Algarve Investor 13 August 2015 09:27 AM

Surely the point is that they do almost everything a traditional agent does for those cheap fees? That's the appeal, that they do most of the same things - aside from viewings and a few other things - for a fraction of the price. I happen to think that's not the case with easyProperty - no-one seems to know for sure exactly what they offer and their lettings business hasn't exactly been an overwhelming success, very far from it - but the best of the online agents will make a claim that they offer much the same service for much less money. People are always after a bargain, why should estate agency be different? I appreciate that agents do a lot of hard, unseen work to make the sales process as easy as possible, but there is also the impression that the fees they charge are too high. In the future, I think traditional agents will have to cut their fees to compete with all the new kids on the block. Cutting of fees doesn't necessarily mean a cut in quality, though - just because an agent charges higher fees, it doesn't follow that they do a better job than an agency that charges low fees.

From: Algarve Investor 10 August 2015 14:18 PM

I agree, Peter. As we've seen with trains, supermarkets, utility companies and even search engines, monopolies are very rarely a good thing and often see the customer losing out in the long-term. However, I also agree with Rob that OTM have shot themselves in the foot slightly by pursuing Zoopla so aggressively. Zoopla, whether people like to hear it or not, were the only realistic challengers to RM. They've been more affected by the arrival of OTM, whereas RM have carried on like nothing's happened.

From: Algarve Investor 10 August 2015 10:56 AM

@Trevor Mealham - surely, then, that is even greater reason for proper training being put in place for new recruits and for people who have been doing the job for years? If new legislation and regulations are constantly being introduced, it makes sense for agents to keep up to date with this by going to training sessions, say, once every six months. Is that too much to ask?

From: Algarve Investor 04 August 2015 09:34 AM

@Robert May - fair points, but don't you think OTM should be held to account? Granted, digs at them in articles that are totally unrelated are uncalled for, but that doesn't mean the should get a free ride. The should be questioned, just as Zoopla and RM are on a regular basis. No publication is perfect, but I'd say EAT is pretty balanced when it comes to the portal wars. It's certainly not been afraid in the past to highlight Zoopla's faults or bad profits, or give plenty of oxygen to OTM's point of view. There is no denying that RM is doing very well and getting stronger by the day. That's what's being reported here, far as I can see.

From: Algarve Investor 29 July 2015 09:53 AM

No surprises here. Rightmove streaming ahead, as everyone expected, completely unaffected by OTM. And, it would seem, Foxtons' bad reputation finally catching up with them. If they are going to continue with their obnoxious, us against the world, expansion for expansion's sake dogma, they are going to suffer as a result. The argument has always been - they can do whatever the hell they want because they're obviously doing something right and are very successful as a result of that. But if people stop using them, because their brand has become so toxic, then they have some serious issues. Good riddance, I say. Might keep some of their arrogance and complacency in check for a while - and if I don't have to be confronted with their loud and brash shop-fronts anywhere near as much, all the better.

From: Algarve Investor 29 July 2015 09:49 AM

It's no real surprise, is it? With a lack of supply and a lack of affordable housing stock, people are finding it more difficult than ever to buy. The large deposits that are needed are out of the reach of many, particularly those in Generation Rent, and mortgages are more difficult to acquire (for various reasons). The PwC report said that the cost of running a house is not so much of an issue - with low mortgage rates meaning monthly repayments for homeowners are lower than what some private renters have to shell out - it's affording the house in the first place that is the main problem. Home ownership reached a peak in the 80s, 90s and early 2000s, with Thatcher's RTB, 100% mortgages and a more relaxed attitude to lending from banks and building societies. That all changed with the financial crisis in 2008 and home ownership has been on a downward spiral ever since. This wouldn't be a major problem - many on the Continent rent for their whole lives with few issues - if the standard to private rented accommodation was good enough. Which, in many cases, it's not. And it's not secure. Or affordable. Any tenant thinking about buying a home will find it nigh on impossible to save up for a deposit if half their income is going straight out again on rent. As you say, John, this whole idea of a property-owning democracy is laughable. The government don't take housing seriously and they will continue to follow that mantra until there is a drastic fall in house prices and the economy takes a nosedive too. Then they might take action. Until then, don't hold your breath. Either you build more houses and make them more affordable, or you improve the PRS (and also make it affordable) so it's actually a long-term prospect for people. Not everyone wants to buy, but if buying (in the long-term is going to be more cost-effective, where's the incentive to rent? Unfortunately, the government will ignore this report and focus instead on tearing up the welfare state bit by bit and ruining the NHS. They quite clearly don't give two stuffs about the housing crisis, so things are very unlikely to change anytime soon.

From: Algarve Investor 23 July 2015 09:45 AM

Why are they persisting with this? It's a flawed, antiquated policy that will do absolutely nothing to solve the housing shortage. Surely someone at Downing Street recognises that?

From: Algarve Investor 22 July 2015 15:34 PM

"Finally, we need to remember that modest steady growth and lots of stable transactions are far better for our businesses and for our clients than rapidly rising prices which prevent younger people buying and cause people to delay their house sale in expectation of ever higher prices in the future." This is totally spot-on, Adam. There does seem to be this idea, peddled by the media, the government and certain people in the property industry, that prices going up rapidly year-by-year is a fantastic thing and something to be celebrated. However, as wages stagnate and house prices continue to rise to absurd levels, it's going to become even harder for many people to buy. As you say, young-buyers - or Generation Rent as the popular coinage goes - are being hit hardest by this. They really struggle to put together a deposit and then, once they've done that, they really struggle to get a mortgage. If they manage that too, then the actual process of buying is made almost impossible by endless surveys, delays with conveyancing, solicitors who seem to take an age to do absolutely everything, and then sellers who get cold feet and withdraw/increase their asking price to see if they can more for their house. That's not to mention gazumping or other possible breaks to the chain. It's not hard to see why so any are just simply giving up. If more and more buyers are put off, then sellers will find it more and more difficult to sell and you get this vicious cycle whereby no actual activity is taking place. Modest growth with plenty of stable transactions seems much more sensible than the madness we have at the moment. House prices were one of the few things not affected by the financial crisis, quite the opposite, but that doesn't mean they're invincible. If the housing bubble does crash, which there is every chance it will, a lot of people will be in bother. Negative equity will become a major problem. This boom and bust approach in the property industry is not healthy, and I've got a dreadful feeling it's all going to end in tears.

From: Algarve Investor 22 July 2015 15:32 PM

Buyers, too, might appreciate cutting out the middle man, if they're prepared to do the work an agent would do. Buyers have a lot to do when buying a property anyway, so they might not be too concerned about going through a private seller instead of an agency.

From: Algarve Investor 21 July 2015 11:19 AM

@ david last - good point. Missing out the middle man might be appealing to some tenants, especially given the recent furore over letting agent fees - which are clearly too high.

From: Algarve Investor 21 July 2015 11:17 AM

My mantra is to avoid most daytime TV at all costs, because it is nearly always total and utter dross that rots your brain. Just look at Loose Women or This Morning. This show isn't going to change my stance, that much is for sure. Who comes up with these ideas? More to the point, who commissions them?

From: Algarve Investor 20 July 2015 09:52 AM

A very sensible measure that should have been introduced years ago. Buy to leave is unacceptable and unfair. The last two decades have made London the go-to place for the super-rich, but we can't continue allowing these wealthy investors to buy up stock that they never live in (or rent out). It's ridiculous. In the midst of a housing crisis, it's borderline criminal. Not sure Boris will be too pleased about this - given his dream of turning London into the largest tax haven in the world - but it is patently the right thing to do, and should be rolled out in Kensington, Chelsea, Wandsworth, Notting Hill, Mayfair, Primrose Hill and any other affluent area you can think of too.

From: Algarve Investor 20 July 2015 09:48 AM

Horrible to watch. Someone needs to tell him his idea is going nowhere, to save himself from more misery and false hope. "Head in the clouds" springs to mind.

From: Algarve Investor 14 July 2015 10:08 AM

Clearly, as the From Russia with Cash programme showed, some agents can't be trusted to do it themselves and need their hands held along the way. As well as this, many young agents require no training or qualifications to become an agent - they simply learn on the job. Putting aside the foolishness of that - what other industry doesn't require its staff to have at least basic training? - it stands to reason that young agents might need a helping hand along the way. If older, more experienced agents are too busy to train them up, more mistakes are bound to be made. Guidelines like this will help to eradicate some of those mistakes. How is that not a good thing?

From: Algarve Investor 14 July 2015 10:06 AM

Indeed, Richard. I'd say online agents were at greater risk of being duped, given the nature of their business. Most traditional agents have a significant online presence, too, but I'd guess much of the confidential, need-to-know stuff is done in branch. I'm sure online agents, in the main, have very thorough security checks, but it just seems more likely that a major transaction carried out online would be more susceptible to scams and money-laundering rings. It's very hard to stamp out completely, but things can be made as difficult as possible for these people. However, if agents are willing to help money launderers along the way for a few extra quid in their pocket, then we have some serious problems, as From Russia with Cash so aptly showed us.

From: Algarve Investor 13 July 2015 13:24 PM

I watched the programme and it was pretty shocking, especially given the names involved. How stupid do some people have to be to take such risks? Pure greed, plain and simple. Obviously, it doesn't follow that everyone in the industry is crooked because the agents involved in the programme behaved terribly, but there is clearly issues - small but significant ones - that need to be dealt with. In situations like this, the industry tends to get very defensive, so it's pleasing to see that RICS and others are coming out condemning the conduct of the agents involved and promising to carry out thorough investigations into these practices. The relationship between the public and estate agents is not going to improve if heads continued to be buried in the sand.

From: Algarve Investor 13 July 2015 11:21 AM

Seems sensible. As the world becomes increasingly digital, property needs to move with it. Automated valuations offer a quick and easy way to get an instant price for your house. I have no idea how accurate it is - I imagine this varies depending on who the instant valuation tool belongs to - but I think it's a sensible move by Nationwide to include this.

From: Algarve Investor 03 July 2015 09:42 AM

Will the government act? Will they heck!

From: Algarve Investor 30 June 2015 09:37 AM

I think you're right, Glenn. He might be the butt of many jokes from fellow property people and his self-appointment as spokesperson for the whole industry gets very tiresome, but he's not afraid to shake up the industry and drive things forward. He's also not afraid to speak his mind, which is no bad thing in certain situations. I think eMoov are one of the better online agents and will be around for some time. They seem to realise the inherent flaws in the system in comparison to traditional agents - who are by no means perfect - and have sought to rectify with measures like the above. It seems the done thing to have a pop at Russell, but the property world would be less interesting without him.

From: Algarve Investor 29 June 2015 17:54 PM

I take it you're not a fan of surveyors then, Richard White? :)

From: Algarve Investor 24 June 2015 14:01 PM

I don't think they would know anything about it, Ray. The portal wars is big news in the property industry, but outside of our little bubble I don't think it carries much traction. The public would know of RM and Z - because they're major brands and nearly everyone starts their property search on one of them - but other than that, I don't think they'd have any idea about AM, OTM or the divisions they have caused. It might be a bit tawdry at times - especially when Zoopla and OTM are at each other's throats - but you can't deny it makes for a great debate. It's like politics or football, very tribal, very little-fence sitting. It evokes strong opinions from most people.

From: Algarve Investor 17 June 2015 11:42 AM

Not sure I really agree with this. Yes, the sponsor has a right to be plastered wherever they want - I'm sure they're paying a hefty whack for the privilege - but I'm not sure it should be at the expense of Sheffield's favourite daughter. The stand was only named in her honour a few years ago, why strip it away now? Could you imagine Forest doing the same to the Brian Clough stand or Manchester United to the Sir Alex Ferguson stand? No, me neither. Good to see a local estate agent thriving, but I think Redbrik are taking things a bit far by demanding a stand named after them. Bramall Lane will soon be known as the Redbrik stadium, I'm sure.

From: Algarve Investor 17 June 2015 11:33 AM

Excellent points, Eileen. I agree with pretty much all of that. AM should be snapping you up as a replacement for Rook. You might knock some sense into them.

From: Algarve Investor 17 June 2015 11:29 AM

You've hit the nail on the head, Ray. If they don't act soon, I can't see them recovering. I can only envisage a slow decline.

From: Algarve Investor 16 June 2015 13:16 PM

@Robert May - I don't think anyone is saying the site is falling apart. I've said before it's a perfectly good website - it's relatively stylish, functional and user-friendly - but it doesn't offer anything different to Zoopla and Rightmove. It's quick and easy to use, but so are RM and Z - and they both have more properties. Zoopla, I would argue, is the most user-friendly to a new visitor, but RM has far more options to narrow the search and other little extras that are very useful to buyers/renters. Nothing against OTM from a tech point of view, and you can't really argue with their advertising drive, but they just haven't offered anything different to what is already in place. Some agents might benefit, other won't. But the most important person in all this - the consumer - doesn't care how much RM and Z charge agents. They just want their property sold/tenanted.

From: Algarve Investor 16 June 2015 11:47 AM

Are Hunters' the new Foxtons? They don't seem to be suffering the same backlash, though. Foxtons could learn a lesson from that.

From: Algarve Investor 15 June 2015 12:13 PM

So, despite their best attempts to shove the advert down on throats - do these private landlords not watch ITV - the multi-million pound advertising campaign hasn't done the trick. In fairness, it's a pretty forgettable advert and you'd be forgiven for thinking, if you weren't really paying attention, that it was simply an advert for Z, RM or PrimeLocation. I've said it a few times before, it will take a few years for OTM to pierce the national consciousness in the same way as the big two. They might have dented Zoopla, but Zoopla are still a big name, a big brand, and they can probably cope with a few punches to the face and still recover - as they seem to have done. OTM should probably be judged on their success a few years from now, but it might be too late by then. OTM made a couple of glaring errors from the very beginning. The one other portal rule was disastrous, as was their petty refusal of online agents. The website is pretty decent, but it doesn't offer anything different to Z or RM - both of which have far more properties. So, the question is, why would the public or private landlords choose to use OTM when they could use the bigger, better version provided by Z or RM. It makes no sense. I've got a feeling OTM will fade away in a few years - a noble experiment that went wrong to some, a cynical operation born from self-interest and greed to others. I just feel sorry for the smaller agencies who have been taken in by OTM's sales pitch.

From: Algarve Investor 15 June 2015 12:11 PM

I'd like to share your optimism, Rob. But I can't see it happening, sadly. They're too big and have got too much sway to just disappear in a puff of smoke. Whatever you think of them, people do use them (usually people with a fair bit of money in very affluent areas), and I fear that won't change no matter how many PR blunders they commit. They have become the estate agent everyone loves to hate, but they seem to revel in that title. They seem to see it as a badge of honour. They must have known the storm this move would cause - to me, it was a calculated and cynical ploy to garner more publicity. That's what they thrive off, self-promotion and the idea that all publicity is good publicity. Hopefully that comes back to bite them in the future, not that I'm holding my breath for such an eventuality.

From: Algarve Investor 12 June 2015 10:30 AM

Yes, does seem to be another entrant into an already saturated market. Have any of them actually made a success of it yet? You'd think there would be an appetite for this sort of rating site, but it seems to have as many flaws as benefits.

From: Algarve Investor 10 June 2015 11:41 AM

Yes, I agree with all this. Great advice. Thorough research of the area you're looking to buy in is also vital.

From: Algarve Investor 10 June 2015 09:32 AM

@Trevor Mealham - you assume all budget agents are offering a bad service. That's an extremely broad assumption to make, isn't it? We've seen it in other industries, particularly retail and aviation. Say what you want about Ryanair and EasyJet, and many have, but they do what they say on the tin and do it in a cheap, no-frills way. Their levels of service are sometimes better than pricier, more prestigious airlines. We've also seen it with Lidl and Aldi - sometimes giving customers a budget choice is very popular. Budget doesn't always mean naff. The implication that because a service is cheap, it stands to reason that it will be terrible. The 'you pay for what you get' line of thinking. While that's true to a degree, it's not always the case. You can pay over the odds for a service and it turns out to be worse. The same applies to estate agents. An agency charging high fees won't necessarily offer a fantastic, great-value-for-money service. Just look at Foxtons. Whereas a budget (by which I assume you mean online) agent might offer a fantastic service for a quarter of the price. There are good online agents and bad ones. There are good traditional agents and bad ones. I don't know why traditional agents find this so difficult to fathom. They obviously see online models as a threat to them, blithely dismissing their services as cheap, tacky and not as good as what you'd find on the high-street. Ignoring the fact that many online agents have come from a traditional agency background. Any tricks of the trade, good and bad, that they've picked up would have come from there. So online and traditional agents aren't as chalk and cheese as some would like to make out.

From: Algarve Investor 08 June 2015 16:55 PM

It's only going to get worse before it gets better.

From: Algarve Investor 05 June 2015 14:26 PM

Foxtons, Foxtons, Foxtons. When will they learn? On the other hand, I agree with the idea that they don't really care what people think of them. They're like the Tesco or Chelsea of the property world - being stupidly successful while also being hated by nearly everyone.

From: Algarve Investor 05 June 2015 14:25 PM

Good points, maurice kilbride! I agree with everything you say. I disagree with much of what OTM stands for, but this does all seem like a storm in the teacup. Everyone's getting very excited even though nothing has actually happened yet. Let's wait to see if any wrongdoing has taken place before we start doling out the reprimands.

From: Algarve Investor 04 June 2015 12:58 PM

Russell being beaten at his own game? You can't help but laugh.

From: Algarve Investor 03 June 2015 09:55 AM

Yes, that really is the million dollar question, Glenn. I'm not so sure it will make great reading. They seem to be in a similar boat to easyProperty - plenty of investment and huge PR teams behind them, but a struggle to translate this into actual tangible results. Maybe they'll both prove me wrong.

From: Algarve Investor 03 June 2015 09:54 AM

Typical Foxtons.

From: Algarve Investor 03 June 2015 09:51 AM

The non-implementation of a mansion tax does seem to have released the brakes on the PCL market. I dare say some more favourable tax breaks are coming the way of wealth overseas investors courtesy of Boris and his chums.

From: Algarve Investor 29 May 2015 11:55 AM

Will be interesting to see how they get on. Again, like with the lettings launch, they've got plenty of financial might behind them. But the success of that operation seems to have been underwhelming at best. We haven't really heard that much about them, after the initial launch. Do we have any facts and figures on how well they've been doing? From what I've read on here, not very well at all.

From: Algarve Investor 29 May 2015 09:04 AM

@ Rookie - and when I've used them they've been excellent. So which of us is right?

From: Algarve Investor 27 May 2015 13:33 PM

@Richard Rawlings - completely agree. Foolish decision. I thought Lewis had more sense than this.

From: Algarve Investor 26 May 2015 11:07 AM

@Kelly Evans - that's not what would happen here, though. You wouldn't get a load of outsiders putting their noses in, trying to tell those already in the industry how to run it. This is estate agents themselves asking for more regulation, not outsiders who 'know nothing about the industry' as you so charmingly put it.

From: Algarve Investor 26 May 2015 11:06 AM

Doesn't eMoov complain to the CMA on a weekly basis? At least that's what it feels like.

From: Algarve Investor 22 May 2015 16:27 PM

@Robert May - some great points you make. The government are failing to see the wider picture, they're just looking for short-term fixes and sweeteners. Anyone with an ounce of sense knows this policy is totally unworkable. Just look at the panning it got when it was announced - as I said earlier, I've still yet to meet anyone who thinks it's a good idea. Even the people who it would directly benefit - i.e. the people who would be able to buy their housing association homes - are against it on the grounds of it taking away housing supply from the next lot of people who need it most. Dead in the water policy, won't ever be implemented. This is just Mr Hollinrake paying lip service to his Tory masters, nothing more.

From: Algarve Investor 20 May 2015 14:21 PM

Is anyone actually in favour of this (Conservative MPs excepted, they have to tow the party line)? The guy from the Sunday Times pretty much hits the nail on the head. An unpopular policy that will never see the light of day. And we should all rejoice at that.

From: Algarve Investor 20 May 2015 09:36 AM

Utterly abhorrent behaviour. No matter what your party political bias, there is absolutely no justification for such an attack of arson and vandalism. Disgraceful barely even covers it. @Gordon Brown - your feeble attempts to defend this, in a very thinly-disguised way, are equally outrageous. There is no defending the indefensible.

From: Algarve Investor 19 May 2015 10:09 AM

Totally agree Emma - this was always bound to happen. The more pressing problem is solving the housing crisis that everyone in government seems to think isn't happening. After the last government presided over the lowest level of housebuilding since the 30s, I don't hold out much hope for that changing anytime soon. Lewis is a good MP and was doing a decent job as housing minister, so I dearly hope he will push housing towards the top of the government's agenda.

From: Algarve Investor 18 May 2015 10:18 AM

Totally agree - it needs to be embraced, not feared. It has been in every other industry, why is estate agency so reticent when it comes to innovation and new technology? I know, as the article states, property professionals are a conservative bunch, but we're well into the 21st century now - get with the programme or get left behind!

From: Algarve Investor 13 May 2015 08:58 AM

Bit of an embarrassing cockup from the government. Doesn't exactly fill you with confidence, does it?

From: Algarve Investor 12 May 2015 14:32 PM

Yeah, I thought Lewis was doing a fairly decent job. Given more time, he could have done really well. As a private landlord, he had a unique insight into the PRS. Unlike most other politicians, he actually had experience in his field - I think it'd be a mistake to overlook him. As for the above policies, Right to Buy is a complete non-starter. A totally ridiculous, antiquated scheme that Cameron pulled out of the hat as last-minute election bribe. It was subsequently dismissed by just about everyone outside of Tory HQ. I don't even think Cameron thinks it's a good idea. I'm not even sure it's legal. I'm sure the housing associations will have something to say about their stock being sold off without their permission. And it will do absolutely nothing to stem the flow demand or increase the housing supply. 200,000 new homes built - fair enough, but let's see if they follow through on this. They certainly didn't in the last parliament. Not sure Help to Buy is the way forward either. Flagship policy last time round, but from those I've spoken to it's been far from an overwhelming success and has only helped a small number of people. Brownfield regeneration is a good idea and would help to free up space for affordable housing. But it doesn't come without its issues. Again, let's see if they follow through on their promises. In other words, I'm not convinced by most of their policies and I think getting rid of Lewis would be a very bad idea.

From: Algarve Investor 11 May 2015 11:22 AM

I wonder if, in ten years time, anyone on an ordinary wage will be able to live in London. It's already unaffordable to buy for many, and it's barely much cheaper to rent. I'm also worried about the bubble bursting. A very fragile economic recovery relying on the strength of the property market is a recipe for disaster. I'm not against outside investment in London - I'd be a hypocrite if I was, given I buy and sell houses in Portugal. But it's reached ridiculous levels now. It seems to have become the new fashion accessory for the uber rich - a luxury pad in Mayfair or Kensington - but it's not sustainable for the long-term. Can't see it changing anytime soon, though.

From: Algarve Investor 11 May 2015 11:13 AM

If the Tories get in, we'll have another five years of houses not being built and extra pressure being put on the PRS. No party is offering all the solutions - which is why the independent regulatory body suggested in an EAT article today is actually quite appealing - but to say that the Tory record on housing stands up to scrutiny is absurd.

From: Algarve Investor 07 May 2015 10:57 AM

@David Winsper - all very articulate, but I don't think you've really tackled the question at the heart of the article. Certainly, housing should never be used as a political football - and there is an argument that both the NHS and housing would benefit from being taken out of politics and run by an independent regulatory body. The problem being, people have very different ideas on housing and what should be done to sort the current supply crisis we have, so we'd have to rely on mature, collaborative, even handed politicians to make this a reality. Like houses, these would appear to be in short supply. We need sensible discussions on housing. But more than anything - and I'll keep banging on about it - is we need more houses. We've failed to build enough for decades. We built more in the 70s with a smaller population to cater for. Housebuilding has slowed drastically under the Coalition, whoever gets into power will need to make reversing this one of their first key jobs.

From: Algarve Investor 07 May 2015 10:34 AM

We need to make mortgages more affordable and easier to acquire, but that will only happen with the rollout of a full-on, government-backed house-building drive to up supply and bring prices down. The situation now, with house prices going out of control in certain areas of the country, means that people are having to take out bigger mortgages which they are less likely to afford. If the property market were to crash again, we'd have another big problem with negative equity. For first-time buyers, it's becoming increasingly difficult to get on the ladder - they are struggling to cobble together deposits and mortgage lenders are less reluctant to lend. MMR is the reason for the slowdown in mortgage approvals. It could be a good idea in theory, but the current guidance is way too stringent. Are spending habits on haircuts and socialising really relevant to being approved for a mortgage?

From: Algarve Investor 07 May 2015 10:25 AM

@John Bamonte - I agree, what is the point of them saying this now? It's neither here nor there. People, in most cases, would have already made their minds up, and Zoopla is very unlikely to change that. Sound like self-interested scaremongering, to be honest. I take on board some of their points and agree that Labour doesn't have all the answers, but it would take a massive leap of faith to suggest that the Tories' record on housing holds up to even the tiniest bit of scrutiny. It really, definitely doesn't. Whoever gets in, it's quite simple. Increase supply!

From: Algarve Investor 06 May 2015 12:40 PM

Agree on the more modern look, and the homepage is much better, but I have a few reservations. As a few others have mentioned on other posts, the font size of the comments is quite small. You have to squint a bit to see it, it should be clearer and more distinct. Also, the gap (white space) between comments is a little bit off-putting. I'd also agree that the picture at the top of the article is just too big - it means you have to start reading too far over. Content should trump pictures every time. The adverts in the middle of the article are quite distracting, too. Again, disrupts the flow of the words.

From: Algarve Investor 05 May 2015 09:37 AM

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