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Overview

PropertyHeads has launched to estate agents and other property businesses in beta. To date we have over 4,000 estate agents and 3,000 other property businesses signed up. As we move through 2019 we expect to grow beyond 20,000 property business members which would put PropertyHeads on par with the property industry leaders in terms of businesses listed.

PropertyHeads will become the online destination for anybody looking to buy, sell, rent, improve, maintain or manage their property interests. Our property portal is the only one that carries Owner Reviews. And we're also the only online destination where you can find a tradesman recommended by people you already know and trust.

Last updated 17 October 2018.

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HOUSE NETWORK CEASES TRADING - OVER 1,000 SELLERS LEFT IN LIMBO

Essex based online agent House Network ceased trading today. Over 1,000 properties were being marketed by the group as of yesterday.

If you're one of the affected sellers. Post a comment below and PropertyHeads and our network of local estate agents will be on hand to offer free advice.
BAD ESTATE AGENT PRESS - WE'RE CALLING IT OUT

So first it was The Sun late last month, then The Times and over the weekend the Daily Mail got in on the estate agent bashing act. All three publications have run a similar story (we're not sure who's behind it) claiming estate agents are "duping homeowners into paying higher commissions by overvaluing". We think this is nonsense because:

1. Estate agents typically earn a commission on the sale price rather than the asking price or valuation.
2. We accept estate agents do sometimes over-value to win an instruction. But this only leads properties to sit on the market longer than necessary, which actually increases estate agents' costs.
3. The (flawed) logic in these articles seems to be that some agents are having to down-value more than others. Yet most of the agents mentioned e.g. Foxtons, Hamptons are focused on the London market where prices have been falling for seven straight quarters.
4. The asking price is actually set by the homeowner in the majority of cases (it's not necessarily the same as the valuation). So the articles could just have easily have been titled "Foxtons has the most greedy/optimistic clients".

Curiously the articles do mention that some agents earn a fee regardless of whether they sell the property or not, however they all fail to expand on whether the agents mentioned fall into this camp (most certainly do not).


BREXIT & THE UK PROPERTY MARKET SILVER LINING

We're not about to get political but wanted to provide some balance to all the Brexit doom and gloom out there...

Did you know that purchases of London commercial property by non-EU foreign investors exploded by 75% last year. And that non-EU purchases were 10x that of EU purchases.

Similar increases in property investment by non-EU foreign investors have been reported across the UK. Most notably in Scotland.


GOVERNMENT UNVEILS £6BN OF HOUSING PROJECTS

Homes England - that's the government's housing delivery body - is working with several local authorities to promote major housing schemes including:

- North Essex Garden Communities: 43,000 homes in three new towns

- Otterpool Park - 10,000 unit garden town outside Folkestone, Kent

- West Carclaze - a £600m garden village scheme near Par in Cornwall.

- And 4,000 new homes around the new HS2 station Birmingham Curzon.

Other projects include York Central, Ashton Gate in Leicester and Kimmerfields in Swindon.


UK HOUSE PRICES SURGE +5.9% IN FEBRUARY (OR NOT)

The latest figures from Halifax suggest UK house prices rose by almost 6% in February. But before homeowners get too excited note that experts are starting to question the reliability of the lenders index.

Here at PropertyHeads we wanted to give our members some insights into why Halifax's numbers are almost certainly misleading:

1) They exclude buy to let and cash purchases. Given the recent tax and regulatory changes faced by landlords which are causing some to exit the market, this will give Halifax numbers an upward bias.
2) Some experts have mentioned that Halifax hasn't rebalanced their index since the 80's. However this will have almost no affect on any given month (and is actually a slight negative over time).
3) Halifax numbers are based on Halifax mortgages which are a relatively small sample (about 12,000 of the 100,000 transactions a month) and can be biased by which mortgage products Halifax are marketing in any given month.


HOUSE PRICE CRASH FOR BILLIONAIRES AND CELEBRITIES

OK, so it mostly reflects the absurd asking prices ($1bn for a hilltop building plot or $40m for a log cabin anyone?) but this article makes interesting reading.

https://www.businessinsider.com/massive-real-estat...

Some ultra luxury properties in the US have seen asking prices drop by 50%. Celebrities that have "suffered" include basketball start Shaquille O'Neal (50% reduction) and investment guru Warren Buffett (30% reduction).

And anyone who's had the misfortune of watching the Leaving Neverland documentary this week won't be surprised at the 70% drop in the asking price for Michael Jackson's former home.


SELECT THE RIGHT AGENT TO SUCCESSFULLY SELL YOUR HOME.

Recent research by our friends at Zoopla apparently shows selecting the right agent is the most important factor in securing the sale of your home.

https://www.propertyindustryeye.com/heres-the-secr...

Although the multiple choice question is flawed (where for example is "The presentation of the property") we don't disagree with the findings.

So how do you find the best agent? Word of mouth of course! And PropertyHeads is the only UK property website that shows you agents used and reviewed by your friends and contacts when you search (and not the agent that's paid us to put them at the top of the list).

Look out for our article on this topic coming soon.


So new research apparently shows that "buying a house" is THE least acceptable topic for Brits to post about on generic social media sites including Facebook and Instagram! Just beating funerals and politics to the title.

https://www.insurance2go.co.uk/media-centre/2018/9...

We suspect the research may have been referring to boastful posts and those disapproving are likely to be those struggling to afford their own home. But what do our users think?

At the very least it is surely a siren call for a dedicated Property Social Network ;-)


This story deserves much more attention in the UK press.

https://www.bloomberg.com/news/articles/2019-01-29...

Investors are rapidly withdrawing money from UK property funds. Brexit is blamed in the article but the underlying issue is the liquidity mismatch and the fund managers marking their assets to fantasy valuations. Don't worry though, your trusty council's are stepping in to catch the falling knife...

https://www.bbc.co.uk/news/business-46625912


Here's a round up of the "experts" predictions for UK property prices in 2019. But what do PropertyHeads members think house prices will do in 2019? Let us know in the comments.


A bit of Friday property fun...

Hadlow Tower, also known as May's Folly, is being raffled by it's owner.

Check out thehadlowtower.co.uk for more details and your chance to win this gothic architectural masterpiece.


Emoov, the UK's 2nd largest online estate agent has gone into administration. Here's a useful link from our friends at Which explaining the implications for emoov (including Tepilo) customers.

https://www.which.co.uk/news/2018/12/online-estate...

PropertyHeads will be offering all our users affected by emoov's administration free advice on completing the sale of their home. Just comment on this post and we will get in touch.


JUST IN....

Our van stickers for tradesmen and window stickers for estate agents have arrived!

10,000 of these beauties will be appearing all over the UK in the coming weeks.

Let us know in the comments if you want a FREE sticker for your property business.


NEW FEATURES...
We have improved the personal profiles on PropertyHeads to make them more engaging.
My Properties - You can now add all the properties you currently live in or own, and those you have lived in or owned in the past.
Property Interests - Whether you're interested in buy-to-let, interrior design or local property market news, now it's easier than ever to let your connections know.


AUGUST UK HOUSE PRICE INDEX. HOME PRICES UP 0.2% LAST MONTH, AND UP 3.2% OVER THE PAST 12 MONTHS. However the headline numbers mask some worrying trends for home owners - the pace of house price increases continues to fall, London and many of the Home Counties have experienced slight declines in prices, and the number of transactions (except in Scotland) continues to decline.


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