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TheCountOfNowhere

Anyone Noticed Any E.a. Closures Lately.

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It's been an exciting week or so but we still haven't got a massive houser price correction, thought I think events of this week mark the 2nd defining point in the crash.

The most notable event this week in Northants was the closure of a Bairstow Eves branch...house god reported in the northants thread

"Email from Bairstow Eves:

In order to improve the branch service that we offer to our customers, together with our unrivalled internet coverage, we are amalgamating our Kingsley Park business into our Kingsthorpe, Duston, and large Northampton town centre offices, as of Wednesday 10th August, 2011. "

They are a large chain of agents and the first closure ive heard about for a while.

Anyone say any other failures/closures in recent weeks ?

With transaction volumes so low they must be suffering, how long can they hang on.

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With transaction volumes so low they must be suffering, how long can they hang on.

Presumably the drop in transactions is offset (at least to a degree) by increased rental business.

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Presumably the drop in transactions is offset (at least to a degree) by increased rental business.

Thats what I would assume is happening, one the agents in the area where i'm looking said they have about 700 - 800 rentals on their books and they normally have about 30 - 40 properties available to rent, but this has recently dropped less than 20 rentals available.

There are some agents we checked that don't do rentals so it will be interesting to see if they are still around in 6 months time.

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Presumably the drop in transactions is offset (at least to a degree) by increased rental business.

I've noticed rental prices shot up in Northants but have been steadily falling back the last few months.

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"Email from Bairstow Eves:

In order to improve the branch service that we offer to our customers, together with our unrivalled internet coverage, we are amalgamating our Kingsley Park business into our Kingsthorpe, Duston, and large Northampton town centre offices, as of Wednesday 10th August, 2011. "

Wow they are closing branches to improve customer service! I believe the positive spin! Maybe if they become internet only their customer service will be EVEN BETTER!

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I see the opposite down here in the West Country: loads of small (one man band?) agents starting up. I assume that they have been fired from the bigger agents, or walked because they were only getting basic pay. The latest is Bill Bannister, but a couple of new ones have popped up every year. There are probably now 10-15 agencies chasing mid-Cornwall's business.

I assume the barriers to entry are so small, you might as well set up on your own. I presume Bill Bannister runs the whole empire out of his back bedroom:- Hair gel, check. Audi TT, check. Enormous tie knot, check. You're good to go.

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Anyone say any other failures/closures in recent weeks ?

With transaction volumes so low they must be suffering, how long can they hang on.

From the west of Scotland

Goodfellow Closes

Aug 12 2011 by Lisa Boyle, Ayrshire Post (main ed)

THERE’S more to come.

That’s the stark warning this week after one of Ayrshire’s best known businesses closed.

Goodfellow estate agency shut up shop on Friday

Goodfellow Estate Agents was established in Bearsden in Glasgow in 1948.

In 1976, the company moved into premises at Ayr’s Hollow Park Court and eventually closed its operation in Glasgow to concentrate on the Ayrshire market.

The company went from strength to strength under the direction of the partners and by 2007 it employed over 70 members of staff in Ayr,

Kilmarnock, Troon,Irvine, Saltcoats and Kilwinning.

However, the housing market crash has taken its toll.

In a statement, directors Margaret Brown and Christine Rutherford, said: “It is with regret that after 63 successful years Goodfellow Estate Agents have no other option, despite our large market share, than to cease trading.

“The dramatic downturn in the number of transactions completing coupled with restrictive lending policy of the banks and building societies has rendered the company unviable.

http://www.ayrshirepost.net/2011/08/12/goodfellow-closes-102545-29211300/

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  • 285 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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