@othemarketblog number of high street estate agents going bust up 16% , online estate agents market share up dictated by consumer not industry
trouble in the highstreet
Figures from Moore Stephens, a top ten accounting and advisory network, with offices throughout the UK and members across the globe, reveal that the sector was the only industry in which the trend for fewer insolvencies was bucked last year, with 185 businesses going bust, after 160 did so in 2014.
The rate of insolvencies nationally across all industry sectors declined by 9 per cent, from 16,558 to 15,027
Three notable insolvency sectors, within property [ringed in red] retail ,construction and real estate.
Bob Scarff [pictured above]former Country Wide plc chief, recently criticised the concentration on ‘retail’ activities by Countrywide - recently describing it as “preposterous”. A complete contrast to comments made Alison Platt the Chief Executive of Countrywide plc, bringing estate agency business into what she calls a more 'retail-focussed' exercise.
Online Drift
It's not just seasoned professionals, like Bob Scraff, Head of retail at respected Global Auditor KPMG has also said "The ease of signing in rather than walking in, combined with increasingly smooth running of logistics and fulfillment networks, is also good news for the consumer but the retailers will have to reconsider the role of the store and the store associate if they wish to reverse the drift to the online channel.”[4]
National retail super market chain Morrison's (also found on the high street by the consumer) recent partnership with online shopping giant Amazon. The deal between the two consumer giants ,was noted by Emoov CEO Russel Quirk, who questioned whether the penny had now finally dropped, for high street estate agents.
Mean while market share within the full service fixed fee, hybrid online estate industry is growing.
Eurostat data ,has also shown that consumer habits and buyer behavior ,make the UK the capital of Europe for online purchasing power.
The funeral is still some way off. At the moment, only 5.5 per cent of UK house sales are carried out through the new, ultra-cheap, online estate agents. But that has risen from practically zero a decade ago. By 2018, the figure is expected to rise to 50 per cent, and to as much as 70 per cent by 2020[1].
easyProperty.com
As experts in competitive intelligence, we predict that the changes we’re going to see will become much larger than simply a shift from physical estate agents to online.
With the introduction of online-only estate agents that manage the whole process and to the benefit of the seller, reduce the fees involved in selling a property substantially.
online purplebricks.com now has higher search traffic, than Knight Frank , global high street estate agent, Emoov is also showing, commendable in roads.
Research from online estate agent eMoov has revealed that London High Street estate agents took £860 million in fees in 2015. Which hardly affords public sympathy , when everyday hard working people, find out Kensington and Chelsea estate agents taking home more than the average UK salary from the average sale.[3]
Even the most recognisable face, of the high street estate agent ,over the last decade and half ,is being taken to court, in a land mark case by a group landlords. The case revolves around Foxtons allegedly hiding commission rates ,on contractors' work, this at a time when their annual profits have shown decline from the previous year.
Even the most recognisable face, of the high street estate agent ,over the last decade and half ,is being taken to court, in a land mark case by a group landlords. The case revolves around Foxtons allegedly hiding commission rates ,on contractors' work, this at a time when their annual profits have shown decline from the previous year.
This is good news for mortgage lenders and the construction industry. The Government has given it's approval of the online estate business model , to further economic stimulus.
Even though figures confirm the trend in high street agents going bust,many high street agents are opening in the capital hoping to re ride the coat tails of the last 2014 -15 propertyboom. Housesimple.com recent research showed London is over crowded with high street estate agents.
Finally the biggest increase in insolvency came from construction , data shows and comments from the government allegedly imply ,that some of the major national house builders are perfectly positioned, to profit under favorable conditions such as this, which only compound the housing crisis further. The final report released by the housing commission into London housing problem ,received cross party support , with a general consensus ,more houses must be built. Paradoxically when affordable housing is built, first dibs are given to the overseas buyers!.
online rise > i am the agent
[1]How the internet can – and should – destroy estate agents spectator Harry Mount The Spectator 28 June 2014
[2]We Predict a Boom in Online Estate Agents’ PPC Spend in 2015. The Battle Is On!
[3] Estate agents made £860m out of London's property boom in 2015
Construction Hazel Sheffield Independent Jan 2016
Brick-And-Mortar Crumbling? Don't Believe It > Forbes > Leadership
Foxtons high street estate agent facing landmark claim for £2million from group of 55 landlords
Building a new deal for London: Final report of the London Housing Commission
'Kleptocracy tours' 35,000 London properties currently have unknown offshore owners.
Pop-up housing could cut cost of London’s rental market & help UK housing Crisis
Chinese hunt for property bargains in Manchester amongst others say Pinnacle Alliance Property Developer
Property pain Investigation ,service charges increasing rapidly with 30 % of firms increasing fees
UK's largest property developers accused of 'profiting' on the back of the housing crisis
Private rental prices grew by 2.7% in England
Rental prices increased in all the English regions over the year to January 2016, with rental prices increasing the most in London (3.9%).
Property pain Investigation ,service charges increasing rapidly with 30 % of firms increasing fees
Foxtons report 4% revenue increase to City, despite Prime Central London property experiencing a dead-cat bounce
Property Partner successfully completes £15.9M ($22.4M) funding round
Nested - Start Up , property online disruptor to quick sale homes ?
Building a new deal for London: Final report of the London Housing Commission
high street estate agency valuations – flattery will get you nowhere by @emoovceo
Start me up: Why London needs open workspaces for creativity, innovation and growth
Live inquiry application launch 14 th March say Land Registry Marketing Manager
LA police testing knife found on OJ Simpson property - reports
'Kleptocracy tours' 35,000 London properties currently have unknown offshore owners
UK's largest property developers accused of 'profiting' on the back of the housing crisis
Pop Up Housing a solution not just for London but the UK
estate regeneration statement GOV UK DCLG ,Lord Heseltine ,Brandon Lewis MP
Digital Mortgage service: making improvements again & again
Buy-to-let investors 'could face losses'
Uber's property footprint unmatched among San Fran Bay Area ,Tech StartUps
Guests staying with AirBnB for the super bowl top 15,000
Nobroker.com Homes, one step closer to making estate agent obsolete , new round of funding
OnTheMarket overseas properties , Britons with holiday homes in France face paying extra 10% in tax if they sell the property following a Brexit
Guests staying with AirBnB for the super bowl top 15,000
FT first 'Rightmove maintains grip in battle of property portals @onthemarketblog
Morrisons Super Markets signs deal to sell food to Amazon online customers
Amazon eyes up UK restaurant delivery market
Booking.com Launches of Passion Search ,Don’t battle your passions, unleash them
David Cameron calls EU referendum for June 23 2016 Official Statement @onthemarketblog
zoopla.co.uk selects Birst's Cloud BI platform for data integration from all its brands and apps
Good News UK mortgage approvals hit two-year high BoE
IMF Statement: LUXEMBOURG: Concluding Statement of the 2016 Article IV Consultation Mission
Spanish house prices 2015 see rise highest rise 2007 crash , stabilisation of housing market, idealista.com
No Brexit for me, why I'm staying in a reformed EU and so should you
Scotlands House prices rise and sales grow ros.gov.uk
An analysis of recent trends in the Irish rental market 2015 in Review
fourth quarter 2015: First-time buyers took out 87,100 loans to purchase homes. + house prices in UK
GeoPhy Exodus-from-EU-may-spark-correction-in-the-rental-market.html
1st of March David Cameron St David's Day message "wonderful country and a great part of the United Kingdom"
Amazon eyes up UK restaurant delivery market
Bank of England's unease over market's rate view Carney & Shafik
Morrisons Super Markets signs deal to sell food to Amazon online customers
Brick-And-Mortar Crumbling? Don't Believe It > Forbes > Leadership
Chinese authorities shut down microblogging accounts belonging to a real estate mogul
Foxtons high street estate agent facing landmark claim for £2million from group of 55 landlords
Brexit ,purplebricks.com investor, impacts on the property market overall and on aggregate consumption in the economy will be limited
[4]What does spike in December online sales mean for 2016? David McCorquodale, KPMG head of retail 22 January 2016
Further Reading
NHBC NEW HOME STATISTICS ANNUAL REVIEW 2015,English Housing, Papworth Disability Trust ,Joseph Rowntree & Bungalows !
FT first 'Rightmove maintains grip in battle of property portals @onthemarketblogFurther Reading
NHBC NEW HOME STATISTICS ANNUAL REVIEW 2015,English Housing, Papworth Disability Trust ,Joseph Rowntree & Bungalows !
Brick-And-Mortar Crumbling? Don't Believe It > Forbes > Leadership
Foxtons high street estate agent facing landmark claim for £2million from group of 55 landlords
Building a new deal for London: Final report of the London Housing Commission
'Kleptocracy tours' 35,000 London properties currently have unknown offshore owners.
Pop-up housing could cut cost of London’s rental market & help UK housing Crisis
Chinese hunt for property bargains in Manchester amongst others say Pinnacle Alliance Property Developer
Property pain Investigation ,service charges increasing rapidly with 30 % of firms increasing fees
UK's largest property developers accused of 'profiting' on the back of the housing crisis
Private rental prices grew by 2.7% in England
Rental prices increased in all the English regions over the year to January 2016, with rental prices increasing the most in London (3.9%).
Property pain Investigation ,service charges increasing rapidly with 30 % of firms increasing fees
Foxtons report 4% revenue increase to City, despite Prime Central London property experiencing a dead-cat bounce
Property Partner successfully completes £15.9M ($22.4M) funding round
Nested - Start Up , property online disruptor to quick sale homes ?
Building a new deal for London: Final report of the London Housing Commission
high street estate agency valuations – flattery will get you nowhere by @emoovceo
Start me up: Why London needs open workspaces for creativity, innovation and growth
Live inquiry application launch 14 th March say Land Registry Marketing Manager
LA police testing knife found on OJ Simpson property - reports
'Kleptocracy tours' 35,000 London properties currently have unknown offshore owners
UK's largest property developers accused of 'profiting' on the back of the housing crisis
Pop Up Housing a solution not just for London but the UK
estate regeneration statement GOV UK DCLG ,Lord Heseltine ,Brandon Lewis MP
Digital Mortgage service: making improvements again & again
Buy-to-let investors 'could face losses'
Uber's property footprint unmatched among San Fran Bay Area ,Tech StartUps
Guests staying with AirBnB for the super bowl top 15,000
Nobroker.com Homes, one step closer to making estate agent obsolete , new round of funding
OnTheMarket overseas properties , Britons with holiday homes in France face paying extra 10% in tax if they sell the property following a Brexit
Guests staying with AirBnB for the super bowl top 15,000
FT first 'Rightmove maintains grip in battle of property portals @onthemarketblog
Morrisons Super Markets signs deal to sell food to Amazon online customers
Amazon eyes up UK restaurant delivery market
Booking.com Launches of Passion Search ,Don’t battle your passions, unleash them
David Cameron calls EU referendum for June 23 2016 Official Statement @onthemarketblog
zoopla.co.uk selects Birst's Cloud BI platform for data integration from all its brands and apps
Good News UK mortgage approvals hit two-year high BoE
IMF Statement: LUXEMBOURG: Concluding Statement of the 2016 Article IV Consultation Mission
Spanish house prices 2015 see rise highest rise 2007 crash , stabilisation of housing market, idealista.com
No Brexit for me, why I'm staying in a reformed EU and so should you
Scotlands House prices rise and sales grow ros.gov.uk
An analysis of recent trends in the Irish rental market 2015 in Review
fourth quarter 2015: First-time buyers took out 87,100 loans to purchase homes. + house prices in UK
GeoPhy Exodus-from-EU-may-spark-correction-in-the-rental-market.html
1st of March David Cameron St David's Day message "wonderful country and a great part of the United Kingdom"
Amazon eyes up UK restaurant delivery market
Bank of England's unease over market's rate view Carney & Shafik
Morrisons Super Markets signs deal to sell food to Amazon online customers
Brick-And-Mortar Crumbling? Don't Believe It > Forbes > Leadership
Chinese authorities shut down microblogging accounts belonging to a real estate mogul
Foxtons high street estate agent facing landmark claim for £2million from group of 55 landlords
Brexit ,purplebricks.com investor, impacts on the property market overall and on aggregate consumption in the economy will be limited
Comments
Post a Comment