Report reveals carnage within London sales market

first_imgResearch into the severity of the London sales market crash has been published by Portico, which has 18 offices in the Capital.The shocking report, which has just been released, reveals that sales volumes in London are now more than half those before the 2008 financial crisis and 48% percent lower than this time last year.Portico says much of the downturn can be pinned on April’s Stamp Duty changes.Before the extra 3% was introduced the number of properties sold in Westminster rose from 200 a month in February to over 500 in March as landlords rushed to buy prior to the deadline, before dropping dramatically to just 84 sales in May. Portico says the market has not recovered significantly since then.But despite the sales slump, house prices in London have not dropped and instead have almost doubled since the financial crisis, increasingly from an average of £250,000 to nearly £500,000.Portico says prices are likely to start dropping soon as the market in central London finally starts to react to low sales volumes. The company predicts likely price drops of up to seven percent, which it believes will then spread out to Greater London.This reflects other recent market reports. Rightmove says prices in Greater London are down by 0.3% month-on-month, and 17 of London’s boroughs have recently recorded price falls.“Unless action is taken to re-establish the natural movement of the whole market it’s likely this could be a serious issue and we will see prices fall,” says Mark Lawrinson, Portico’s Regional Sales Director, London (pictured, above).“Ultimately a price re-adjustment in the market could re-invigorate volumes at some point, making housing more affordable for first time buyers, but as it stands this is a scenario unlikely to happen any time soon.”Portico mark lawrinson London sales December 5, 2016Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Home » News » Housing Market » Report reveals carnage within London sales market previous nextHousing MarketReport reveals carnage within London sales market12-branch agent Portico says ‘dramatic’ drops are largely down to Stamp DutyNigel Lewis5th December 201601,349 Viewslast_img read more

Estate agency branch closures accelerating, high street report reveals

first_imgEstate agents were the second fastest declining retail high street category during the first half of 2018, research released this morning has revealed, beaten only by the rapid closure of pubs.Some 211 estate agency branches closed over the period, the Local Data Company (LDC) has revealed.It says the closures have been prompted by the slowdown in the housing market and are concentrated in Greater London and the South East, but the research firm says competition from Purplebricks has also played a part in squeezing fee levels and profit margins.Its report also highlights how much pressure the high street is under, revealing that 692 pubs closed between January and June this year, along with 223 electrical goods stores, 171 women’s clothes stores and 160 newsagents.Small townsOverall, the number of high street units that closed over the period increased by 16.9% compared to the same period last year, while the number of openings decreased by 2.1%.LDC says small towns are being hit hardest while larger shopping centres are proving more resilient.“The challenges faced by UK retailers showed no signs of slowing down in the first half of 2018,” the report says.“Retailers continue to fight against dented consumer confidence, political uncertainty, rising occupational costs affecting margins and increasing competition pushing prices down across key sectors.”Agents considering an alternative career on the high street might look to the key growth sectors highlighted by the report which include barber shops, beauty salons, mobile phone shops, health clubs, shoe repair bars and vaping retailers.Read the report in full.Local Data Company high streets estate agent closures November 9, 2018Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Home » News » Agencies & People » Estate agency branch closures accelerating, high street report reveals previous nextAgencies & PeopleEstate agency branch closures accelerating, high street report revealsClosures are concentrated in Greater London and the South East of England, the LDC research shows.Nigel Lewis9th November 201804,788 Viewslast_img read more

Young estate agent with digital ambitions named top entrepreneur

first_imgA young Welsh estate agent has been named as one of the country’s top young female business stars by a leading media organisation’s annual poll.33-year-old Katie Cromwell, who is the founder and director Pontarddulais-based firm No. 86 Estate Agency, joins this year’s list of entrepreneurs alongside those working in the legal, banking, brewing, photography, camping, health and fashion industries.Cromwell started up her business two years ago following a six-year career within two well-known estate agent chains Dawsons and Peter Alan in neighbouring Swansea, and says she wants to blend the best of the online service offered by hybrid agents such as Purplebricks but also provide a traditional, face-to-face personal package.Her company has 71 properties for sale at the moment and offers vendors and buyers a sales ‘portal’ similar to those of larger hybrid and online estate agents.She says that at her old roles she could see the way the industry was going and knew ‘things needed a shakeup’ which led her to establish No.86 Estate Agency.Following the success of her estate agent business she now plans to expand it via franchising in other areas of Wales by signing up other experienced agents with excellent local knowledge.Cromwell’s one-office business has plenty of competition locally from other online franchise-style companies including Purplebricks, Springbok, Express Agency and Yopa.The annual poll of business talent by WalesOnline has been going since 2014 and includes women entrepreneurs and business stars under 35 years old.Katie Cromwell No.86 Estate Agency Peter Alan Swansea Dawsons August 29, 2019Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Agencies & People » Young estate agent with digital ambitions named top entrepreneur previous nextAgencies & PeopleYoung estate agent with digital ambitions named top entrepreneurKatie Cromwell set up her business two years ago after realising how profound Purplebricks’ influence on customers had become.Nigel Lewis29th August 201902,175 Viewslast_img read more

Dexters hits back over Coronavirus criticism but 70 staff still working from offices

first_imgHome » News » Agencies & People » Dexters hits back over Coronavirus criticism but 70 staff still working from offices previous nextAgencies & PeopleDexters hits back over Coronavirus criticism but 70 staff still working from officesDexters says it closed down branch network as fast as possible, but that a small team is still needed to manage its lettings portfolio from secure hubs.Nigel Lewis31st March 202003,412 Views London 100-branch estate agency Dexters has hit back at ‘unfair’ criticism that it asked its staff to continue coming into work after the government made its initial lock-down announcement.But the company, which says it sent home 95% of staff within 48 hours of the Prime Minister’s request five days ago that people should work from home ‘where possible’, has also revealed that a core of 70 or so staff are still commuting to work at two non-high street hubs to deal with the company’s huge lettings portfolio.“Jeff Doble, its Chairman, says: “Dexters has been the subject of misinformation started on social media which has ended up with wider reporting, resulting in deeply unfair allegations.“We are a responsible business and a respected firm of Chartered Surveyors and Dexters has followed Government Covid-19 guidelines to the absolute letter.”Doble also says some staff are being asked to assist with people’s moves and provide a keyholder service for properties in their local areas, where necessary.Staff at the two hubs are all senior directors or people available to assist, with none are from high-risk health groups. They either travel off peak on public transport or in the safety of cars.They are dealing mostly with property management issues and enquiries from its 60,000 tenants and are working at desks at least two metres from each other and following sanitisation procedures.Dexters is also keen to highlight its charitable work via the company’s dedicated charity committee, which this year is to switch its fund raising effort to support NHS staff.The firm has also created a special hardship fund to help any staff having financial difficulties.Jeff Doble says: “I am very proud of my colleagues who have supported our customers in completing over 400 pre-arranged house moves in the days following the lock down announcement, enabling these households to now be in safe self isolation; whilst we also completely shut down within 48 hours.”Read more about Dexters.  covid-19 coronavirus Jeff Doble Dexters March 31, 2020Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img read more

Russia: Corvette Boiky to Join BF in 2012

first_imgBack to overview,Home naval-today Russia: Corvette Boiky to Join BF in 2012 View post tag: Russia View post tag: Navy Corvette Boiky will be commissioned into Baltic Fleet (BF) in 2012; at present, the ship had been launched and undergoes mooring trials at Severnaya Verf shipyard in St. Petersburg. She will be the second serial corvette built under Project 20380. The lead ship is corvette Stereguschiy handed over to Baltic Fleet in 2007. Second ship of the project and the first serial one – corvette Soobrazitelny – was delivered to BF on Oct 14, 2011.Upon completion of all shipyard’s and state trials, corvette Boiky will join Baltic Fleet like her predecessors.Displacement of a Project 20380 corvette is 2,000 tons; length is over 100 meters; max speed is 27 knots; operating range is 4,000 miles.Ships of this class have crucially new combat and technical characteristics. Among their key advantages are versatility, compactness, low signature, advanced automation and integration of control systems.[mappress]Naval Today Staff , January 10, 2012 January 10, 2012 View post tag: join View post tag: Corvette Industry news View post tag: Boiky View post tag: 2012 View post tag: BF View post tag: News by topic Russia: Corvette Boiky to Join BF in 2012 View post tag: Naval Share this articlelast_img read more

Virginia-Class Submarine USS Texas Holds Change of Command

first_imgBack to overview,Home naval-today Virginia-Class Submarine USS Texas Holds Change of Command View post tag: Navy Authorities Share this article View post tag: Naval View post tag: Virginia-Class View post tag: submarine View post tag: Texas February 3, 2012center_img View post tag: News by topic A time-honored change of command ceremony was held for the Virginia-class submarine USS Texas (SSN 775) at the submarine piers on board Joint Base Pearl Harbor-Hickam, Wed. Feb. 1.Cmdr. Robert Roncska, commanding officer of Texas was relieved by Cmdr. Andrew Hertel.Guest speaker, former First Lady of the United States and ship’s sponsor, Mrs. Laura Bush praised Roncska, a native of Dunkirk, N.Y. and former naval aide to the president of the United States from 2006 to 2008, for his exceptional performance while commanding Texas as well as the crew on their accomplishments under Roncska’s leadership.“USS Texas embodies the very best ideals of her namesake state; endurance, courage, loyalty and quiet strength. Nowhere are these virtues more visible than in her crew,” said Bush. “Today we thank Cmdr. Roncska for his outstanding service and leadership as the commander of Texas. I see what the crew of the USS Texas knows well, that he is a great officer and a natural leader.”Rear Adm. Bruce Grooms, Assistant Deputy, Operations, Plans and Strategy (N3/N5B) on the staff of the Chief of Naval Operations, also spoke to the assembled crowd. Roncska had served under Grooms’ command aboard USS Asheville (SSN 758) from 1997 to 1999.“Texas is an extremely successful command certainly lead by a wonderful commanding officer, but it is always the crew that carries out the commander’s intentions. So to you, the crew of Texas, I salute you,” said Grooms. “I think we have proven time and time again that it really is possible to have fun at what you do, treat each other as a family but still get the work done. And Texas, under Cmdr. Roncska, has proven that.”Roncska acknowledged that the majority of the submarine’s success during his time as commanding officer could be attributed to the crew and their hard work efforts.“To the crew of Texas, you are the finest assembly of talent that I have ever had the privilege to work with,” said Roncska. “Clearly, Texas accomplished some amazing feats while I was in command but years from now I am not going to reminisce about these accomplishments and the impact we had to our national security. What I will think about is the personal experiences we shared and the lifelong friends I have made.”Following his remarks, Roncska was awarded the Legion of Merit for his exceptional performance as commanding officer from July 2009 to Feb 2012.In his closing remarks, Cmdr. Roncska reflected on his time on Texas and at sea.“In many ways it seems like yesterday that I stood at the podium in Groton, Conn. to accept the responsibility of command, but when I recall my command experiences, I know it was not yesterday,” he said. “Words cannot describe what it was like to be a part of this awesome Texas family and it was truly an honor to be your commanding officer.”As Cmdr. Hertel assumed command of Texas he addressed the crew about the future.“Texas is a technical marvel of a submarine, and more capable than any other platform at bringing the fight to the enemy,” said Hertel. “We must maintain ourselves on the razor’s edge, ensuring we are ready when the time comes to answer our nation’s call.”Commissioned Sept. 9, 2006, Texas was the second Virginia-class attack submarine constructed and the first submarine to be named after the Lone Star State.The state-of-the-art submarine is capable of supporting a multitude of missions, including anti-submarine warfare, anti-surface ship warfare, strike, naval special warfare involving special operations forces, and intelligence, surveillance, and reconnaissance.Cmdr. Roncska’s personal awards include the Defense Superior Service Medal, Meritorious Service Medal, and Navy Commendation Medal (five awards).Cmdr. Roncska will report to the staff of Commander Submarine Force U.S. Pacific Fleet as the Submarine Command Course Prospective Commanding Officer Instructor.[mappress]Naval Today Staff , February 03, 2012; Image: navy View post tag: holds Virginia-Class Submarine USS Texas Holds Change of Command View post tag: USS View post tag: Command View post tag: changelast_img read more

U.S. Flag Raised aboard Spanish Naval Base anent July 4

first_img View post tag: Flag U.S. Flag Raised aboard Spanish Naval Base anent July 4 View post tag: Base View post tag: anent July 4, 2012 View post tag: Aboard View post tag: 4 View post tag: Raised View post tag: Julycenter_img View post tag: Spanish View post tag: U.S. View post tag: Naval Training & Education U.S. service members assigned to Naval Station Rota, Spain raised the U.S. flag aboard the Spanish Naval Base July 4 by special permission of the Spanish base commander.U.S. Naval Station Rota is only permitted to fly the U.S. flag with specific permission from the Spanish base commander-in-chief due to the restrictions set in the Agreement for Defense Cooperation, the governing document between the United States and the Kingdom of Spain.Hundreds of service members representing the Navy, Marine Corps, Air Force and Army participated in the flag-raising ceremony.“An event like this, held but once a year, speaks directly to the patriotism of each and every one of you – military and civilian alike,” said Capt. Scott Kraverath, Naval Station Rota, Spain commanding officer.Kraverath added that it is extremely rare to have an opportunity to fly the 15-star flag.“I love to see our nation’s flag flying, no matter the location,” said Boatswain’s Mate 2nd Class Paul Lembo. “It’s extra special to be here for the 200th anniversary of the War of 1812 and see the 15-star flag flying. This is definitely something that I will always remember.”From 2012 through 2015, the U.S. Navy, Marine Corps, Coast Guard and Army are commemorating the Bicentennial of the War of 1812 and our national anthem, the “Star-Spangled Banner.” This was the first time Naval Station Rota has flown the 15 star-flag.[mappress]Naval Today Staff, July 4, 2012 Back to overview,Home naval-today U.S. Flag Raised aboard Spanish Naval Base anent July 4 Share this articlelast_img read more

Royal Navy’s Next-Generation Merlin Helicopter Debuts at Sea

first_img View post tag: Merlin View post tag: Naval View post tag: Debuts View post tag: sea October 3, 2012 Back to overview,Home naval-today Royal Navy’s Next-Generation Merlin Helicopter Debuts at Sea Training & Education View post tag: News by topic View post tag: Helicoptercenter_img Share this article View post tag: Navy The Navy’s next-generation Merlin helicopter has made its debut at sea with 12 days of trials aboard HMS Illustrious. The first of 30 new and enhanced Mk2 Merlins flew ten sorties on and off the flight deck of the helicopter carrier in the Western Approaches.Being guided safely down on to the deck of HMS Illustrious, this is the future of Fleet Air Arm submarine hunting.And pirate-busting.And smuggler-strangling.And drug-runner-catching.This is the next-generation Merlin making its debut at sea, during a dozen-day period of trials aboard the helicopter carrier off the South Coast.Outwardly, the Mk2 looks pretty much identical to the Mk1 which has become the Fleet Air Arm’s ‘helicopter of choice’ in support of the RN’s global operations, and the counter-piracy/smuggling/terrorism mission east of Suez in particular.But as part of a £750m revamp 30 of the Culdrose-based helicopters, which have been in front-line service with the Royal Navy since 2001, are being stripped out inside and computer wizardry which was state of the art in the late ’90s is being replaced with today’s latest tech.In a nutshell, that means the ability to find and track more potential targets on or below the surface of the ocean, not least submarines operating closer to shore.Aircrew will receive improved night vision goggles and enhanced fast-roping facilities for Royal Marines boarding teams are being installed – vital for those east of Suez missions.And state-of-the-art touch screens are being fitted to make things easier for the fliers to operate.This first Mk2 – tail number ZH826 – spent 12 days flying on to and off the deck of Lusty as a 34-strong trials team – drawn from the Fleet Air Arm, constructors AgustaWestland, defence giant Lockheed Martin and experts of the Air Test and Evaluation Centre at Boscombe Down – assessed the improved helicopter’s performance.The first of the new features to be tested was the navigation system – and in particular how it fared when it couldn’t call upon any GPS satellite data, one of the most strenuous, but not unlikely, conditions, Merlin aircrew may encounter.During the ten test sorties ZH826 made from the deck of the Portsmouth-based carrier off Plymouth and out into the wider Atlantic, reams of data were collected, while the flight crew and assessors recorded their observations for the Mk2 team to evaluate once back on dry land.Whenever possible the aircrew flashed up other new systems on the Mk2 to see how it will operate from a Royal Navy warship at sea once the upgraded helicopter enters service over the next couple of years.When the Merlin was on the deck, tours of the new-look aircraft were given to Lusty’s Commanding Officer, Capt Martin Connell, his deputy Cdr Matt Harvey, and officer cadets.ZH826 has now returned to Boscombe Down for continued trials and evaluations, while Illustrious sailed from Portsmouth yesterday to begin her part in the Royal Navy’s key autumn deployment to the Mediterranean, Cougar 12.Merlin Mk2 is one of two next-generation helicopters currently undergoing trials; also joining the Fleet Air Arm inventory over the next two years is the Wildcat, 21st-Century successor to the Lynx.[mappress]Naval Today Staff, October 3, 2012; Image: RN Royal Navy’s Next-Generation Merlin Helicopter Debuts at Sea View post tag: Royal View post tag: Next-Generation View post tag: Atlast_img read more

UEMS Wins SubTASS Contract for Canadian Navy Subs

first_img View post tag: wins UEMS Wins SubTASS Contract for Canadian Navy Subs View post tag: Systems View post tag: UEMS Ultra Electronics Maritime Systems Inc (UEMS) announced a contract award by Public Works and Government Services Canada to manufacture four Submarine Towed Array Sonar System ( SubTASS ) arrays for the Royal Canadian Navy’s VICTORIA class submarines.The SubTASS arrays were developed by UEMS and are manufactured in its facilities in Dartmouth, Nova Scotia. UEMS’ SubTASS arrays are an essential component of the VICTORIA class sensor suite and allow the submarine s to covertly detect and track surface and sub – surface contacts.Ken Walker, President of UEMS, states: “ The award of this contract is significant on several fronts. Not only does it allow us to continue to recruit and retain the best and brightest minds out there, but it also reinforces the fact that a company like Ultra Electronics can design, develop and produce world beating technology, right here in Canada. We, as a company, are looking forward and are honored to have the RCN as a customer.”[mappress]Press Release, June 20, 2013; Image: Canadian Navy View post tag: Subs View post tag: Navy View post tag: class Back to overview,Home naval-today UEMS Wins SubTASS Contract for Canadian Navy Subs View post tag: Ultra Equipment & technology View post tag: contract View post tag: Navalcenter_img View post tag: Submarines June 20, 2013 View post tag: Electronics View post tag: Defence View post tag: News by topic View post tag: SubTASS View post tag: Maritime View post tag: arrays View post tag: Victoria View post tag: Canada Share this articlelast_img read more

Gallery: ITS Andrea Doria Completes Visit to Dubai

first_img November 4, 2014 View post tag: Navy Authorities View post tag: ITS Andrea Doria View post tag: News by topic Back to overview,Home naval-today Gallery: ITS Andrea Doria Completes Visit to Dubai View post tag: EUNAVFOR View post tag: Counter-Piracy Gallery: ITS Andrea Doria Completes Visit to Dubai View post tag: UAE View post tag: Visit View post tag: Naval Share this article The flagship of the EU Naval Force, ITS Andrea Doria, has completed her visit to Dubai. The Italian Navy destroyer was in port to participate in the UAE counter-piracy week between Monday 27 and Friday 31 October.The warship hosted a number of official events, including a visit by the Deputy Secretary General of the European External Action Service (EEAS), Mr Maciej Popowski.On Wednesday 29 October the EU Naval Force’s Deputy Operation Commander, Brigadier General Dick Swijgman, visited the flagship and received an operational update. Additionally, a delegation from the Contact Group on Piracy off the Coast of Somalia (CGPCS), currently chaired by the European Union, was hosted aboard. The delegation was briefed on the EU Naval Force’s progress in fighting piracy.On Thursday 30 October Mr Maciej Popowski, the Italian Minister of Infrastructure and Transport, Mr Maurizio Lupi, as well as several EU Member State Ambassadors, took the opportunity to visit ITS Andrea Doria. The EU representatives were given a comprehensive briefing on counter-piracy operations in the region.…Powered by Cincopa Video Hosting for Business solution.New Gallery 2014/11/4cameramake Canonheight 682orientation 1flash 9originaldate 10/30/2014 10:45:29 PMwidth 1024cameramodel Canon EOS 70Dcameramake Canonheight 682orientation 1flash 9originaldate 10/31/2014 12:31:26 AMwidth 1024cameramodel Canon EOS 70Dcameramake Canonheight 682orientation 1flash 9originaldate 10/30/2014 8:27:48 PMwidth 1024cameramodel Canon EOS 600Dcameramake Canonheight 683orientation 1flash 9originaldate 10/29/2014 12:00:28 PMwidth 1024cameramodel Canon EOS 600Dcameramake Canonheight 682orientation 1flash 16originaldate 10/30/2014 11:42:15 PMwidth 1024cameramodel Canon EOS 70Dcameramake Canonheight 682orientation 1flash 9originaldate 10/30/2014 11:00:25 PMwidth 1024cameramodel Canon EOS 600DDuring the visit, the EU Force Commander, Rear Admiral Guido Rando, emphasized that:The European Union should be rightly proud of their men and women who are working together to combat Somali piracy under the EU flag.Mr Popowski stressed the positive impacts of Operation Atalanta in the region and reiterated that the EU will continue its counter-piracy efforts as the threat from Somali piracy remains.[mappress mapid=”14305″]Press release, Images: EUNAVFOR View post tag: GALLERY View post tag: completes View post tag: Dubailast_img read more