Tag Archives: property



June 20 / Property

Office property sales down globally

Office property sales account for a great deal of real estate investment, but recent news tells us that, across the globe, office property sales are down in the first quarter of 2016.

Real estate firm JLL found global activity totalled $133 billion in Q1 of 2016, which is 14% lower than Q1 of 2015. It is also the weakest performance since 2013.

Despite this being a global issue, the EU referendum still manages to sneak its way into some of the reasoning behind Europe’s decline in office property sales, with the uncertainty causing a 15% drop in sales volumes.

While this is bad news for investors looking at workspace property, the decline in sales will have the knock on effect of more competitive pricing. Time to grab a bargain!

How are property sales going for you? Get in touch and let us know.

June 15 / Marketing, Property, SEO, Social Media, Websites

Rightmove vs. Zoopla vs. OnTheMarket

Ever wondered which online real estate listings site has the most visitors, what their key demographics are and what differentiates them from the rest? Well, we’ve prepared this brief guide to give you all the facts you need, in just a couple of minutes.

Website traffic

  • Rightmove: 53.8 million per month
  • Zoopla: 25.6 million per month
  • OnTheMarket: 4.1 million per month

As you can see, Rightmove dominates the market by a great margin. But there are key differences that make the other sites worth checking out.

Key differences

  • Rightmove: Far more listings, better awareness among the public, used by 90% of estate agents
  • Zoopla: Smart features such as prices property sold for in the same area, recently acquired Property Software Group and USwitch, so may grow fast
  • OnTheMarket: A disrupter with lower costs to list, but also restricts estate agents to their portal alone

So Rightmove looks like it is here to stay, but both Zoopla and OnTheMarket look set to attempt to overtake its number one spot. This will depend on whether Zoopla’s acquisitions turn good, and if OnTheMarket doesn’t scare buyers away with their restrictions.

Are you a realtor? Where do you list your property? Let us know on Twitter @elevationcomms.

June 14 / Marketing, Property

State of the real estate market: June 2016

Another month, another set of figures swinging from one end to the other. Welcome to the world of real estate. Let’s take a look at the property market, as it stands, in June.

Cost of renting increases

This should come as no surprise, and feels like we’re a broken record, but once again, the cost of rental property has increased across the UK – not just London!

The average rent for a one-bedroom property has risen to £746 per month, which is around 48% of the average person’s wages. In London, people can expect to pay 57% of their wages, with the average rent for the same style property at £1,133.

Good news for landlords of course.

Lack of housing

More broken records coming. As you would expect, driving the increased cost of renting, is a lack of new housing in the UK. And figures coming out now, looking at May this year, showed UK property supply down by 5%.

The north of England is being hit worst, where the lack of property (accounting for 47%) is seeing the biggest drop. But while London isn’t faring any better (in general), some boroughs are doing okay – for example, Merton saw supply increase 30% in May.

House prices increase

This all points towards higher house prices. Yes, despite the EU referendum looming over the property market, house prices are still managing to be on the up, with a 8.2% rise in the past year, across the UK, with a rise of 14.5% in London.

Unfortunately, the north of England continues to be hit worst, with the north east seeing only a 0.1% increase in prices – hardly comparable to the UK-wide figures. So, depending on how it may affect your commute, you’re likely to get a house for less than the average £209,054 if you head up north.

June 7 / Design, Inspiration, Property

5 weird and wonderful properties from around the world

Property isn’t always about the standard home or cuboid buildings, it can take the form of a home made out of an abandoned aeroplane, or be designed to look like a piano on the horizon. Strange property isn’t hard to find when you know where to look. So in this post we’ve done the hard work for you and found the 5 most weird and wonderful properties from around the world.

  1. One Log House

One Log House is a home carved out of a single log of a felled redwood tree – which was over 2,000 years old!

One Log House

Image source

  1. Piano House

It may look like something created in Minecraft, but this glass-clad home, in Japan, is the real deal – and not to be outdone, they added a cello for good measure.

Piano House

Image source

  1. Katskhi Pillar Monastery

The Katskhi Pillar monastery in Chiatura, Georgia, is a very lonely place. But the 61-year-old monk who lives there doesn’t seem to mind.

Katskhi Pillar Monastery

Image source

  1. Bridge House(s)

Google ‘bridge house’ and you’ll discover an incredible series of properties that are designed to bridge across a river or land. Joeb Moore’s are some of the most beautiful.

Bridge House

Image source

  1. Boulder House

The boulder house, or Casa Do Penedo to give it its full name, was built to give peace and solitude to the owner. Flocks of tourists have since forced them to move out.

Boulder House

Image source

 

May 27 / Marketing, Property, SEO, Websites

How do online real estate agents work?

Those who have sold a residential property recently may have noticed an alternative to their regular realtor when searching for the best companies to go with. This alternative is the online real estate agency – and that means no physical location or window shopping. Queue mass uncertainty.

We are split in the Elevation office about which is better, online or traditional. And mostly, when working out the pros and cons, it is a little of column A, a little of column B. They both have their benefits. But today, we’ll focus on why online real estate agencies can be beneficial.

Firstly, let’s take their nature into account. For someone to visit a property on an online portal (in the UK this would usually be Rightmove or Zoopla) then they must have some sort of intent already. Whether they are just seeing what is available, or looking to buy, they are one step further than the opportunist at the shop window of a traditional estate agency.

But since traditional agencies can also place a property on these portals, the benefit of using an online agent is lost. So why are people turning to these online companies in droves?

In a word. Fees. Yes, it comes down to money, as always. An online business can break the mould. Not only do they have fewer overheads, but an online business can be set up for very little, experiment with new business models, and pivot at a moment’s notice. This reduces their costs – by improving profit margins and reducing overheads, they can help customers by charging less. See a full list of what they charge on Which?.

Take Purple Bricks, the industry leader in the UK, for example. They charge a flat fee of £798 or £1,158 in central London. Seriously – just £1,158 in central London, for any size property! This is a hell of a saving, and can mean £10,000s in savings for customers. Of course, you are relying solely on online traffic, and forgoing the local knowledge and the customer base of traditional agents, so we’re betting the sales may take longer in less demand driven areas.

In addition, you do not have the benefit of an experienced valuer who visits your home and can give an accurate assessment of market value. Traditional agencies will also take care of the photography and the required EPC ratings. They are also on hand for qualified advice and help with the subsequent negotiation process. In all, that’s a lot to lose.  

But there are companies that merge the two practices. EweMove, for example, is an online agency that uses the traditional percentage fee model, but with a lower fee than most traditional agents charge. For this, you get premium listings in major online portals, as well as local advertising in the area for which the property is sold in.

So, while the benefits are debatable – lower fees, but perhaps less local knowledge, help and qualified advice, we fully expect this industry to continue disrupting the property selling industry. What do you think? Let us know on Twitter @ElevationComms.

Newsletter

Get news updates sent straight to your inbox
  • This field is for validation purposes and should be left unchanged.