Rightmove’s revenue & profits have taken a big hit this year
UK’s biggest property portal reports a 34% drop in revenue and a 43% fall in operating profit after offering a 75% discount support package to agents during lockdown.
Yopa turns a profit ‘six months ahead of schedule’
Savills-backed fixed-fee estate agency has seen “dramatic growth” spurred on in part by the property market’s post-lockdown activity run.
Property portals launch new marketing offensives
Rightmove, Zoopla and OnTheMarket are launching major advertising campaigns to capitalise on the resurgent post-lockdown property market.
Octagon reports surge in demand for high-end home improvements
Housebuilder’s ‘bespoke’ division, which takes on projects ranging from £1m and up, saw enquiries soar by 50% in July.
Savills’ UK resi profits slumped by 54% in the first half of this year
Sales operations were hit hard by the Coronavirus pandemic in H1. But the Private Rented Sector proved a bright spot for Savills, with “an outstanding performance” seeing revenue jump by 87%.
Maslow hits £3bn funding milestone
Eleven-year-old lender has now funded over £3 billion of real estate projects delivering 11,744 new homes between them.
Post-lockdown bounce gives LSL cause for optimism
Property services group ‘increasingly optimistic about market conditions’ after strong trading in June & July; restarts marketing as focus turns to ‘investing for future growth’
Guild relaunches auction offering for members
The “Guild Auctions” partnership with Iamsold allows GoPP members to operate their own branded auction platform.
Chestertons buys up Morgan Randall’s lettings business
31-branch Chestertons takes on well-known East London agency’s staff and ‘substantial’ lettings book, but not its branches.
Rightmove names new finance chief
Alison Dolan starts as CFO in September, on a base salary of nearly £400k.
Winkworth reports busiest July in five years
100-office network notes a ‘significant recovery in sales interest’ as Chancellor’s stamp duty holiday ‘turbo-charges’ the market
Purplebricks‘ UK revenue tumbles 11%; instructions down by nearly a quarter
Hybrid agency says it is ‘emerging through the Covid-19 pandemic in a very strong position’, with a healthy cash balance of £66m and a focus ‘fully on the UK’