From idea to IPO in three years: Purplebricks founder Michael Bruce November 21, 2016 "Every time you mention the word ‘estate agent,’ everyone gets a little bit of a smile on their face and an inner feeling of unhappiness,” says Michael Bruce, chief executive at Purplebricks, the online estate agency that has turned the industry on its head in a little over four years. Bruce has traversed the world [...]
Take off! London lifted by green light for City Airport expansion as markets touch post-Brexit highs July 28, 2016 The City received a double boost yesterday as London City Airport was given the go-ahead for a major expansion while the latest GDP data beat expectations and lifted the FTSE 100 to a 12-month high. Chancellor Philip Hammond, transport secretary Chris Grayling and communities secretary Sajid Javid gave the green light to the multi-million pound [...]
This tiny London garage sold for more than the price of the average house May 10, 2016 A tiny garage in west London is the latest sign of the ridiculous scramble for prime property locations in the capital, after being bought up for more than the price of the average home in the UK. The 18ft by 35ft spot in Hammersmith and Fulham smashed the already rather steep £250,00 guide price, the Guardian reports. It went for [...]
As the satnav led to Uber’s success, how long before portals Rightmove and Zoopla create global estate agents? September 1, 2015 The rapid rise of Uber among its consumer base is often commented on by those looking for an example of a game changing force within an industry. But it isn’t just the taxi app's innovative use of tech or lower price, it’s much more than that. It has literally transformed the landscape of the taxi [...]
UK house prices: Rightmove share price jumps as it absorbs business from rivals July 29, 2015 It seems the launch of an estate agent-run portal which forces agents to choose between Rightmove and Zoopla has done no harm to the former, after it reported a 16 per cent rise in revenues during the first half of the year. The figures The housing boom continues to benefit Rightmove: revenues rose to £93.1m in [...]
Property firm exposes how Nine Elms agents and developers are delisting and relisting same homes April 22, 2016 Dozens of new flats on sale in Nine Elms have been listed, taken down and relisted by developers and agents in the area, sometimes as many as 15 times in six months. This practice, known as “portal juggling”, potentially creates the illusion that there are more properties on the market than there actually are and [...]
Forget the dinner party chatter – Brexit won’t make much difference to the London property market June 2, 2016 Every week, City A.M. invites an industry professional to write about an emerging trend in the property market. While the Chancellor’s taxes have affected the number of property transactions in Prime Central London, this is not the chief spanner in the works being cited by prospective purchasers. That would be a fear of Brexit, which [...]
Better infrastructure and new houses: Here’s how to invest for a post-Brexit fiscal stimulus October 4, 2016 Chancellor Philip Hammond used his party conference speech yesterday to tell the public that the government is prepared to take “whatever steps are necessary to protect this economy from turbulence”. Though he gave a nod to his predecessor’s commitment to fiscal consolidation, new spending plans are widely expected when he delivers his first Autumn Statement in [...]
Britain hasn’t lost Arm: Its acquisition is the start of a new Great British tech story July 19, 2016 A week ago, many were wondering whether the UK’s tech sector would become less relevant in a post-Brexit world. The news of Arm’s acquisition by SoftBank for £24bn means many things for UK tech – but irrelevance is not one of them. This acquisition is positive and timely news. Following the referendum, it’s an immediate vote [...]
London house prices: Asking prices hit record high as concerns grow over help to buy eligibilty February 15, 2016 London asking prices reached a new record high in February, property website Rightmove said this morning. Rising prices are making buying a new home difficult for many Londoners even when using the government’s help to buy scheme. Prices in Greater London climbed 5.4 per cent over the course of last month and are 10.5 per cent higher than [...]