Cash buyers securing ‘significant’ discounts – research
Sellers are still offering discounts as high as £86,000 in order to secure a cash buyer, research suggests. Lomond analysed current property market stock, looking at the proportion of listings advertised as wanting a cash buyer only, as well as looking at the difference between the asking price of these properties versus the wider average house price in each region.
Stamp Duty rush and Trump trade set to keep UK market going – …
The tempo in the property market is upbeat and appears positive for the remainder of this year, according to Winkworth. The upturn is the result of increased activity in the prime sector and also in the flats market, driven by first time buyers trying to beat the increase in Stamp Duty next April, the estate agency brand said.
Source of Funds: what do agents need to know? - Estate Agent …
Before estate agents can undertake Proof of Funds and Source of Funds checks, it is first critical to understand the difference. It is a common misconception that they are the same thing.
OnTheMarket: ‘We are the UK’s fastest growing property portal’
OnTheMarket (OTM) has staked a claim to being the fastest growing property portal in the UK since its acquisition by CoStar Group. Using Similarweb data, OTM said it has seen a 90% increase in total visits in the 12 months to September 2024 compared with Zoopla and Rightmove which experienced a 9% and 1% decline respectively.
Conveyancers: ‘Give us more respect’ - estateagenttoday.co.uk
Conveyancers are calling for more respect for what they do when it comes to property transactions. A roundtable hosted by the Council for Licensed Conveyancers (CLC) last week concluded that there needs to be much greater understanding of – and respect for – the role of conveyancers across the property market.
Autumn Budget 2024 - what is means for the property market
One mortgage adviser, Jack Tutton of SJ Mortgages, said he has already seen two landlords pull out of buying additional properties, while another, Kelsey Phillips, head of specialist lending at Arose Finance, said: “Within minutes of the Chancellor announcing the additional surcharge, our investor clients were on the phone to estate agents renegotiating purchase prices lower.
Leasehold reform delayed again but is ROPA coming?
The Government appears to have put the brakes on further reform to the controversial leasehold system. Sunday 24 November marks six months since the Leasehold and Freehold Reform Act 2024 was passed in the wash-up before the last General Election and while the new Labour Government promised to implement changes quickly in …
Revealed! The best UK regions to be an estate agent
Scotland is the best country within the UK to run an estate agency, research suggests. Data firm TwentyEA has revealed the top UK regions to be an estate agent based on completion prices, price growth, supply vs stock, likelihood to sell, growth in sales agreed volumes, price reductions, online agent’s market share, time to sell, time to progress a sale and the competition
Navigating Power of Attorney in Property Sales
What should estate agents do if they are presented with a Power of Attorney? A Power of Attorney is covered under the Mental Capacity Act of 2005, which is where an individual, known as a donor, wishes for somebody else to make decisions and act on their behalf.
Savills: ‘Buyer budgets are improving but sentiment has softened’
When asked about the impact of the Budget on their commitment to move, those who are looking to get their first foot on the property ladder (+39%), and those who are looking at property valued between £250k-£500k (+23%) were the most incentivised.