Property Links Weekly #40 2020

September 29, 2020 Rowan Stringer 0 Comments

This week we have some news related to market volatility caused by COVID-19, a couple of innovative new PropTech businesses, and property tools for rental calculation and viewing UK-wide house price data.

#1 Major London estate agent Foxtons to provide an online-only auction offering with BidX1 platform

BidX1 Foxtons Partnership

BidX1, a digital property investment platform, and estate agency Foxtons have unveiled a strategic partnership which will see BidX1 become Foxtons’ exclusive auction partner.

The two firms initially joined forces in February when Foxtons began listing selected properties in London and the South East on BidX1’s digital platform. Following the success of that early collaboration, with more than 40 joint sales and approximately €20m in total sales value, this announcement marks the beginning of a longer-term partnership.

#2 LiveYield Beta is aiming to provide rental yield and three year capital growth data on postcode level

LiveYield.co.uk is a property portal that enables independent investors to search for property investments by risk and return dynamics.

The platform aims to deliver independent property investors market intelligence and decision-making.

Founded by a chartered surveyor and investment analyst, we aim to create a place where people can come for independent views on property investment and the different channels available to them.

#3 £195k prefab nHouse can be built in just 19 days and comes with delivery drone landing pad and facial recognition home security

nHouse Prefab

Prefabricated houses could well be the standard for new homes in the near future, and the first prototypes of the nHouse is being designed to live up to these expectations. These three-bedroom, two-bathroom homes can be built from scratch in just under three weeks, or 19 days to be exact. The hi-tech homes will feature delivery drone landing pads, facial recognition technology to unlock the front door, robot vacuum cleaners and interactive bathroom mirror screens, as standard. Its eco-friendly credentials include rainwater collecting gutters, solar roofing and a car and house battery pack. The nHouse, minus the land, is expected to have a £195,000 price tag.

#4 Private landlords across England have faced rental loses of up to £437m as a result of COVID-19

The sector will also be hugely supported by some of the recent measures the Chancellor is bringing in. Keeping unemployment levels low and increasing job security will be good news for those looking to buy, invest and move house. 

From 1st November, the Job Support Scheme will replace the current furlough scheme. Employees will need to work a minimum of 33% of their usual hours. Their employer and the government will then each pay the remaining two-thirds of their salary. For those who are self-employed, the government is extending the self-employment income support scheme grant, too. 

Karen Noye of financial firm Quilter says: “Mortgage lenders are cautious about lending to people at risk of job losses, and anyone that is made redundant will struggle to obtain a mortgage.

#5 UK property market showed resilience in Q2

Despite the restrictions of a nationwide lockdown, the UK property market has continued to hold firm on all fronts during the second quarter of this year.

Buyers continued to take advantage of what have been very favourable mortgage rates in Q2, pushing their property purchasing budgets that little further. Sellers have continued to enter the market with somewhat over-optimistic price expectations. But the two have met in the middle to ensure sold prices continue on their upward trajectory.

#6 Online property purchase platform Yourkeys aims to make  new home purchases as easy as one-click ordering on Amazon

Simplifying property transactions can help housebuilders to answer Boris Johnson’s call to “Build, build, build”, according to a property entrepreneur. 

Yourkeys CEO Riccardo Iannucci-Dawson quit his role as a new homes sales director in a quest to solve a problem that plagues the industry – complex transactions leading to high cancellation rates. Iannucci-Dawson co-founded Yourkeys in 2017 and set about building a software platform to help streamline communications. 

“In the UK, 39% of all home sales fall through – of these cancelled sales, 15% fail due to slow progress, changed minds or poor communication,” he said. “It’s fine for the government to encourage building, to remove stamp duty, for lower mortgage rates to come forward, but if we can’t transact, it’s a waste of time.”

Source: https://thenegotiator.co.uk/property-transactions-are-now-made-simpler-claims-proptech-firm/

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