A row over fees between estate agents and the largest property portal in Northern Ireland is now into its fourth week.
PropertyPal.com says it is committed to a ‘speedy resolution’, but in the meantime agents say the dispute has led to increased traffic to their own websites, the Belfast Telegraph reports.
The portal recently increased its fees to member agents, moving from a set amount per listing to a membership-type scheme with different tiers.
The company behind PropertyPal, which lists some 60,000 properties for sale and to rent in the country, has said that the increase is “aimed at delivering enhanced value and services”.
Rebel agents
But the ‘rebel agents’, who have formed a steering group, wrote to Errol Maxwell, PropertyPal’s CEO, saying they felt “coerced and bullied”.
They said under the new system estate agents could expect to pay 25-45% more per listing on PropertyPal, and they “have no alternative but to take drastic action”.
Pride
In a statement to the BBC, Maxwell said he “takes pride in offering the most competitive pricing of any property portal in the UK and Ireland”.
“PropertyPal’s new membership plan allows estate agents to advertise all their properties for an average of £20 per listing and provides them with a powerful suite of new tools to support their business,” he said.
We’re delighted that the majority of estate agents have embraced the change.”
“We’re delighted that the majority of estate agents have embraced the change, and recognise the significant value it brings to their partnership with us.”
Derry estate agent Stephen McCarron of Donnybrook said any price increase from PropertyPal would be “passed on to clients”, something Maxwell has said would be “unfair”.
One of Ireland’s biggest property and financial services firms has acquired Simon Brien Residential (SBR), one of Northern Ireland’s leading estate agents, for an undisclosed sum.
Sherry FitzGerald Group, Ireland’s largest estate agent, swooped in on SBR to create the alliance with plans to expand the SBR network in new locations across the region through franchising.
NORTHERN IRELAND
SBR sells around 1,250 properties per year across Northern Ireland and will continue to trade under the Simon Brien brand from its four offices in Lisburn Road, East Belfast, Newtownards and Holywood.
Simon Brien remains as Managing Director and the senior management team of Samuel Dickey, Thomas O’Doherty, Karen Wilson, Tiffany Brien, and Mark Leinster will also stay in place alongside 35 professional staff.
Sherry FitzGerald has a legacy spanning over four decades and is the largest estate agency in the republic with over 100 offices and 550 staff. It is also the sole affiliate of Christies International Real Estate on the island.
BRILLIANT OPPORTUNITY
Simon Brien (main picture, right), Founder of SBR, says: “This is a brilliant opportunity for both the staff and clients of our company and one that will bring rapid and positive change to the market here in Northern Ireland.
“Not only will the technology and platforms developed by Sherry FitzGerald assist us with growth but the Group’s strength and reach gives us the opportunity for expansion in Northern Ireland.”
Steven McKenna (main picture, left), Chief Executive of Sherry FitzGerald Group, adds: “This collaboration aligns seamlessly with our collective vision to reshape property and financial services through innovation, and excellence.
“Together with Simon and his team, we aim to establish the foremost estate agency network in Northern Ireland, offering clients a unique experience led by talented professionals, cutting-edge technology, and our trusted brands.”
EAMONN Holmes claimed “they’ve taken everything” after being “forced” to sell his beloved home, as he slammed the HMRC.
The TV presenter had to give up his Northern Ireland property, in the Belmont area of Belfast, after a long-running dispute with HM Revenue and Customs.
After losing two appeals against the HMRC, in which the 64-year-old forked out “hundreds of thousands of pounds” to settle legal fees, Eamonn was ordered to pay £250,000.
A tribunal in 2020 ruled he was employed by ITV while hosting This Morning, not working as a freelancer.
Tax officials ordered the GB News host to pay a decades worth of backdated national insurance and tax payments.
The veteran presenter previously argued he had never been handed sick pay, holiday pay or shares in companies while working at ITV.
He told his former UTV co-star Gerry Kelly: “I had a house here until six weeks ago when I was forced to sell it by the Inland Revenue (HMRC).
“It’s something I’m very bitter about because people think you earn lots of money and therefore you have to pay. It’s like they have taken away everything I ever worked for.
“People think it’s only the Eamonn Holmeses of this world that they’re after. But it’s not. The country is broken.”
Last year, Eamonn revealed the tax row was “the most stressful experience outside of losing my father”.
He believed his anxiety resulted in a case of shingles in 2018, which could have left him blind.
At the time he said: “I was like a lamb to the slaughter – it was the most stressful, humiliating experience.
“It was b****y scary to see [the illness]. It looked as if someone had taken a baseball bat to my face and smashed me about a bit.”
An HMRC spokesperson said: “We take the wellbeing of all taxpayers seriously and do everything we can for those who engage with us to get their tax affairs in order, including by offering affordable payment plans.”
Eamonn previously revealed dreams of moving back to Belfast early last year, perhaps to the home he has now been forced to sell.
However, wife Ruth Langsford was not as keen, according to her husband, who spoke to Loose Women’s Kaye Adams on her How To Be 60 podcast.
She asked: “Could you see yourself moving to Belfast?”
To which Eammon replied: “Oh gosh yes, but Ruth wouldn’t want that, she won’t go, she wouldn’t go.”
The couple currently reside in their incredible Surrey mansion and frequently give fans a glimpse into the lavish home.
They have showed off their luxury pad over the years, revealing an amazing kitchen, which boasts oak cupboards, white marble worktops and matching tiled flooring.
Their massive dining room also appears regularly on social media during holiday period after being transformed to fit the seasonal theme.
Footage of their dedicated workout zone, where Ruth often documents her exercise routines, has impressed viewers.
The pair also love to cuddle up in their large lounge, which offers a working fireplace and huge TV over the mantel.
There is a huge bathroom and a special laundry room.
Meanwhile, Ruth has her own white arm chair with matching footstool where she likes to sit with a cup of tea and Eamonn has his own office space.
The room has been transformed into a proper man cave with a giant Manchester United mural on the wall and framed memorabilia on the walls.
This comes after Eamonn shared a health update to fans after being photographed in a mobility scooter last year.
The former This Morning presenter has been suffering from chronic back pain over the past few years.
He unfortunately fell down the stairs two weeks into his recovery after undergoing a back operation last September.
Speaking to his guest Tim Franklin, the former Sky News Sunrise host remarked: “I can’t run, I can’t walk, I can’t do anything except watch TV and eat.
“I just got problems last year in my back, which I haven’t recovered from. It’s not good, it’s not a good recipe I have to say.
Turning to the panellist, he hinted that he struggles to build the energy to heal as he remarked: “You are a good motivation for all of us.
“What would you say to people out there who just have not got that motivation?”
A new online calculator can reveal how much your property may have gained or lost in value over the last year – as average property prices fell at their fastest rate for more than 12 years.
UK property values were typically £6,000 lower in November 2023 than a year earlier, according to official figures.
House prices fell by 2.1% over the 12 months to November 2023 to reach £285,000 on average, the Office for National Statistics (ONS) said.
Now an interactive tool from Purplebricks has been updated to include the latest House Price Index data.
To use the Purplebricks calculator, simply search for YOUR local area and find out how house prices have changed over the last 12 months.
Your browser does not support iframes.
Average property prices fell at their fastest rate for more than 12 years, ONS data shows
Aimee North, head of housing market indices at the ONS, said: ‘The annual fall in house prices continues to accelerate, with the average cost of a home falling at its fastest rate for over 12 years.
‘Meanwhile annual rent increases remain at record levels across the country.’
House prices typically fell across the year in England and Wales, but increased in Scotland and Northern Ireland.
Average house prices over the 12 months to November 2023 decreased in England to £302,000 (a 2.9% drop) and fell in Wales to £213,000 (down 2.4%). The fall in prices follows a further drop of 1.3% for the 12 months up to October.
The typical property value increased in Scotland to £194,000 (a 2.2% annual rise).
Average house prices increased by 2.1% annually in Northern Ireland to £180,000.
Within England, the North East recorded the smallest decrease in average house prices in the 12 months to November 2023 (falling by 0.4%), while London saw the biggest drop in average house prices (down by 6.0%).
The figures were released as the ONS recorded a surprise increase in inflation.
The rate of Consumer Prices Index (CPI) inflation accelerated to 4% in December, from 3.9% in November, but many economists had expected the rate to edge lower.
Eight London boroughs were among the UK areas to suffer the biggest price slump with homes in the City of London shedding more than a quarter (27.7%) – around £200,000 – off their value.
Homes in the upmarket borough of Kensington & Chelsea saw an average of £198,355 wiped off their value after a 17.6% fall, followed closely by the City of Westminster with a fall of 14.6%, or £127,160.
The average home in Hammersmith and Fulham lost £23,475, Ealing homes lost £16,360 and Tower Hamlets properties lost £11,578 in the 12 months to November.
Croydon and Inner London homes also dropped in value, down £46,812 and £42,116 respectively.
Homeowners Scotland and Northern Ireland have something to celebrate however, after both nations saw an increase in property prices.
The average house in Scotland is now worth £194,000 after a 2.2% increase over the 12 months to November.
In Northern Ireland, average property prices increased by 2.1% to £180,000 in the year to Quarter Three (July to September).
Homes in the upmarket borough of Kensington & Chelsea saw an average of £198,355 wiped off their value after a 17.6% fall (file photo of Kensington, London)
Every region in England saw property prices fall apart from the North East, which showed a 0.2 per cent increase.
There are also concerns over the impact of the Red Sea shipping attacks on inflation, as it threatens to push up the cost of oil, gas and goods being imported to the UK.
Mortgage rates have been falling in recent weeks, with many lenders starting the new year by chopping rates. But some housing market experts said the acceleration in inflation could mean lenders are more cautious, as expectations of a Bank of England base rate cut are pushed back.
Frances McDonald, director of research at property agents Savills, said: ‘Today’s ONS house price index for November indicates that stretched mortgage affordability continued to place downward pressure on house prices in the final weeks of 2023.
‘Looking ahead, there are encouraging signs that buyers are gaining confidence as mortgage rates fall, though today’s surprise inflation figures may push out expectations of a Bank of England base rate cut.’
Mark Harris, chief executive of mortgage broker SPF Private Clients, said: ‘The downwards rate war continues to pick up momentum although there is no guarantee that mortgage rates will keep tumbling. There are bound to be blips as it is still quite volatile out there, as today’s inflation figures suggest.
‘Swap rates, which underpin the pricing of fixed-rate mortgages, have been falling over the past month but ticked up today on the back of the inflation data.’
He added: ‘While the rate trajectory is on the whole downwards, borrowers need to be mindful that if they like the look of a rate it might not be around for long.’
Matt Smith, Rightmove’s mortgage expert, said: ‘Average (mortgage) rates had been falling pretty sharply, but this is likely this to slow as lenders take a more cautious approach over the next few weeks. The big picture is still positive for mortgage rates, with rates more stable and attractive for movers than a year ago.’
Nick Leeming, chairman of estate agent Jackson-Stops, said: ‘The figures published today suggest a frosty end to the year, with buyers putting their searches on hold in order to see how mortgage rates would react as inflation fell once again. 2023 was defined by mortgage affordability pressures and a shift from immense competition, towards a smaller, more committed buyer pool.’
Ross McMillan, owner at Glasgow-based Blue Fish Mortgage Solutions, told website Newspage: ‘Sentiment reigns supreme in the housing market, and in Scotland it’s very positive at present.
‘Whilst a modest uptick in inflation may create a degree of uncertainty, it’s crucial to recognise that buyer enthusiasm and activity have experienced a noticeable revival in the opening weeks of 2024.’
UK property values were typically £6,000 lower in November 2023 than a year earlier, according to official figures
Andrew Montlake, managing director at UK-wide broker Coreco, told Newspage: ‘Those in the mortgage market will be watching swap rates closely and it could mean a slight pause to the new year rate wars we have seen, but competition between lenders is unlikely to wane.’
Simon Gerrard, managing director of London-based Martyn Gerrard estate agents, said: ‘On the ground, it’s clear the market has turned a corner. We’ve seen a 20% increase in people registering to buy a home compared to this time last year.’
The ONS also said private rental prices paid by tenants in the UK rose by 6.2% in the 12 months to December 2023.
This was unchanged from the annual percentage change in the 12 months to November 2023, and the joint-highest annual percentage change since the UK records started in January 2016.
Rents in Scotland increased by 6.3% in the 12 months to December 2023 – the highest annual rate since the Scotland records started in January 2012.
In England, private rental prices increased by 6.1% in the year to December 2023, which was unchanged from the annual percentage change in November.
When London is excluded from the England figures, private rental prices increased by 5.7% in the 12 months to December 2023. The ONS said the figures are the joint-highest annual percentage changes since the records started in January 2006.
Private rental prices in London increased by 6.8% in the year to December 2023, down slightly from a record-high rise of 6.9% in the 12 months to November 2023.
Rents in Wales rose by 7.1% in the year to December 2023, edging down from a record high increase of 7.3% in the 12 months to November 2023.
Private rental prices in Northern Ireland increased by 9.3% in the 12 months to October 2023.
The annual rate for Northern Ireland has generally slowed since a recent peak of 10.0% in the 12 months to March 2023. Data for Northern Ireland lags behind the rest of the UK, the report said.
The average cost of a home has fallen at its fastest rate for more than 12 years, with UK property values sitting typically £6,000 lower in November 2023 than a year earlier, according to official figures.
House prices fell by 2.1% over the 12 months to November 2023 to reach £285,000 on average, the Office for National Statistics (ONS) said.
Aimee North, head of housing market indices at the ONS, said: “The annual fall in house prices continues to accelerate, with the average cost of a home falling at its fastest rate for over 12 years.
“Meanwhile annual rent increases remain at record levels across the country.”
House prices typically fell across the year in England and Wales, but increased in Scotland and Northern Ireland.
Average house prices over the 12 months to November 2023 decreased in England to £302,000 (a 2.9% drop) and fell in Wales to £213,000 (down 2.4%).
The typical property value increased in Scotland to £194,000 (a 2.2% annual rise).
Average house prices increased by 2.1% annually in Northern Ireland to £180,000.
Within England, the North East recorded the smallest decrease in average house prices in the 12 months to November 2023 (falling by 0.4%), while London saw the biggest drop in average house prices (down by 6.0%).
The figures were released as the ONS recorded a surprise increase in inflation.
The rate of Consumer Prices Index (CPI) inflation accelerated to 4% in December, from 3.9% in November, but many economists had expected the rate to edge lower.
There are also concerns over the impact of the Red Sea shipping attacks on inflation, as it threatens to push up the cost of oil, gas and goods being imported to the UK.
Mortgage rates have been falling in recent weeks, with many lenders starting the new year by chopping rates. But some housing market experts said the acceleration in inflation could mean lenders are more cautious, as expectations of a Bank of England base rate cut are pushed back.
Frances McDonald, director of research at property agents Savills, said: “Today’s ONS house price index for November indicates that stretched mortgage affordability continued to place downward pressure on house prices in the final weeks of 2023.
“Looking ahead, there are encouraging signs that buyers are gaining confidence as mortgage rates fall, though today’s surprise inflation figures may push out expectations of a Bank of England base rate cut.”
Mark Harris, chief executive of mortgage broker SPF Private Clients, said: “The downwards rate war continues to pick up momentum although there is no guarantee that mortgage rates will keep tumbling. There are bound to be blips as it is still quite volatile out there, as today’s inflation figures suggest.
“Swap rates, which underpin the pricing of fixed-rate mortgages, have been falling over the past month but ticked up today on the back of the inflation data.”
He added: “While the rate trajectory is on the whole downwards, borrowers need to be mindful that if they like the look of a rate it might not be around for long.”
Matt Smith, Rightmove’s mortgage expert, said: “Average (mortgage) rates had been falling pretty sharply, but this is likely this to slow as lenders take a more cautious approach over the next few weeks. The big picture is still positive for mortgage rates, with rates more stable and attractive for movers than a year ago.”
Nick Leeming, chairman of estate agent Jackson-Stops, said: “The figures published today suggest a frosty end to the year, with buyers putting their searches on hold in order to see how mortgage rates would react as inflation fell once again. 2023 was defined by mortgage affordability pressures and a shift from immense competition, towards a smaller, more committed buyer pool.”
Ross McMillan, owner at Glasgow-based Blue Fish Mortgage Solutions, told website Newspage: “Sentiment reigns supreme in the housing market, and in Scotland it’s very positive at present.
“Whilst a modest uptick in inflation may create a degree of uncertainty, it’s crucial to recognise that buyer enthusiasm and activity have experienced a noticeable revival in the opening weeks of 2024.”
Andrew Montlake, managing director at UK-wide broker Coreco, told Newspage: “Those in the mortgage market will be watching swap rates closely and it could mean a slight pause to the new year rate wars we have seen, but competition between lenders is unlikely to wane.”
Simon Gerrard, managing director of London-based Martyn Gerrard estate agents, said: “On the ground, it’s clear the market has turned a corner. We’ve seen a 20% increase in people registering to buy a home compared to this time last year.”
The ONS also said private rental prices paid by tenants in the UK rose by 6.2% in the 12 months to December 2023.
This was unchanged from the annual percentage change in the 12 months to November 2023, and the joint-highest annual percentage change since the UK records started in January 2016.
Rents in Scotland increased by 6.3% in the 12 months to December 2023 – the highest annual rate since the Scotland records started in January 2012.
In England, private rental prices increased by 6.1% in the year to December 2023, which was unchanged from the annual percentage change in November.
When London is excluded from the England figures, private rental prices increased by 5.7% in the 12 months to December 2023. The ONS said the figures are the joint-highest annual percentage changes since the records started in January 2006.
Private rental prices in London increased by 6.8% in the year to December 2023, down slightly from a record-high rise of 6.9% in the 12 months to November 2023.
Rents in Wales rose by 7.1% in the year to December 2023, edging down from a record high increase of 7.3% in the 12 months to November 2023.
Private rental prices in Northern Ireland increased by 9.3% in the 12 months to October 2023.
The annual rate for Northern Ireland has generally slowed since a recent peak of 10.0% in the 12 months to March 2023. Data for Northern Ireland lags behind the rest of the UK, the report said.