Author: Benjamin

[openai_chatbot] rewrite this content and keep HTML tags as is: Andy Shepherd Dexters has appointed Ash Kashyap to the position of the new CEO of the estate agency group, succeeding Andy Shepherd who has announced that he will be retiring in March 2026. Kashyap joined Dexters as chief financial officer in June 2014 and with over 20 years’ experience in estate agency, working closely in partnership with Shepherd, has propelled the business forwards to record turnover and consistent profits. In 2023, Kashyap led the largest acquisition in the firm’s history, acquiring Marsh & Parsons, followed by acquisition of LiFE Residential. Kashyap…

[openai_chatbot] rewrite this content and keep HTML tags as is: The difference between the monthly cost of renting and paying a mortgage for small deposit borrowers is now around the same, according to Hamptons. Today, typical mortgage rates of just over 5% for a first-time buyer with a 10% deposit mean the average monthly mortgage payment (£1,328) is slightly cheaper than the average rental payment (£1,356) (chart 1).  This time two years ago, as interest rates rose, renting became £48 per month cheaper than buying. For most of the last 40 years, it’s been cheaper to buy than rent.  In…

[openai_chatbot] rewrite this content and keep HTML tags as is: Zoopla has shared an update on how it has driven stronger results for agents in Q1. This includes a 19% surge in valuation lead for agents, supported in part by the property portal’s latest marketing campaign, which launched two weeks ago and is focused on valuation messaging to drive more serious sellers for agents. Valuation lead quality is up 19% year-on-year, with a marked increase in potential sellers submitting a lead intending to move in the next three months. Zoopla says it is also investing continuously on lead quality as…

[openai_chatbot] rewrite this content and keep HTML tags as is: A series of technical corrections has forced the government to revise up the total cost of leasehold legislation reforms from £3.5bn to £4bn. Adjustments in financial modelling were needed to make estimates more accurate by Ministry of Housing, Communities and Local Government (MHCLG) in an addendum to the Leasehold and Freehold Reform Act 2024, and this has fuelled a sharp rise in the estimated cost of the Leasehold and Freehold Reform Act 2024. The legislation, which aims to improve the rights of leaseholders in England and Wales, seeks to make…

[openai_chatbot] rewrite this content and keep HTML tags as is: My Lords, I thank the noble Baroness, Lady Scott, for her amendments relating to anti-social behaviour, and I agree with her powerful statement on ASB. As a councillor, I saw at first hand, as the noble Baronesses, Lady Thornhill and Lady Eaton, did, the utter misery that is caused to individuals and communities through the irresponsible actions of others and I properly understand why it is important that we have provisions to tackle it. Amendment 14 seeks to reintroduce social landlords’ ability to apply for a demotion order in response…

[openai_chatbot] rewrite this content and keep HTML tags as is: Foxtons has just announced first quarter group revenue up 24% to £44.1m (Q1 2024: £35.7m), as the estate agency capitalised on heightened levels of market activity ahead of the 31 March 2025 stamp duty relief deadline. The company is trading in line with management’s expectations. Sales Sales revenue was up 73% to £16.4m (Q1 2024: £9.5m), driven by a £5.6m increase in revenue on a like-for-like basis (+59%) and a further £1.3m of additional revenue from the October 2024 acquisitions. As expected, the first quarter saw a heightened level of…

[openai_chatbot] rewrite this content and keep HTML tags as is: Grant Bates A new estate agency has launched in London by Grant J Bates, previously of Hamptons. Grant J Bates Property will primarily focus on the upper end of the property market in prime central London. Bates, who spent 13 years at Hamptons operating across various senior roles, brings over 20 years of experience working in estate agency in London and overseas. He said: “We’re a brand that understands the power of storytelling and digital influence in a new era of property. Our clients want more than…

[openai_chatbot] rewrite this content and keep HTML tags as is: A landlord has been ordered to pay more than £47,000 after pleading guilty to nine charges relating to two houses in Bradford. The charges relating to two houses on Easby Road, which included failing to comply with HMO regulations, failure to comply with an emergency prohibition order, and failing to comply with an improvement notice, saw Hasan Kazi issued with a fine of £43,470 and told to pay a £2,000 surcharge and costs to Bradford Council of £2,200. Some of the charges related to 8 Easby Road, a terraced property…

[openai_chatbot] rewrite this content and keep HTML tags as is: Justin King (left) and Andy Shepherd Estate agency group Dexters, which is the largest in London by volume of sales, has reported a 23% rise in revenue and profits up 17%. The company has just announced year-on-year growth in its 2024 Report and Accounts for the financial year ended 30th September 2024, revealing a 23% rise in revenue to £222m (2023: £181m) with underlying operating profit up 17% to £47.2m (2023: £40.4m) driven by strong sales and lettings activity across the capital. Dexters highlight that the business has seen a significant…

[openai_chatbot] rewrite this content and keep HTML tags as is: The number of mortgage completions in the UK increased by 50% in March as purchasers raced to avoid higher stamp duty payments, according to Barclays. This was even higher among first-time buyers. The lender reported its busiest month in the UK property market in years, with the highest number of completions since September 2021, when interest rates hit a record low. Completions at the bank were up by half compared with February, and up by 70% among first-time buyers, who potentially face the biggest cost increases under the revised tax…