Monday 5 August 2013

HOW TO FORECAST PROPERTY PRICE RISES


Follow the agents who follow the money


Want to know where property prices will rise next? Follow this blog's Property Hotspotter column which tracks estate agency branch openings. This shows where property markets are hot or heating up. 

Estate agents open or expand operations in an area when their research shows transaction levels are rising. When buyer demand goes up, prices usually do too. 

Here's proof that Property Hotspotter works. In August 2012, this blog showed four agencies had expanded in six UK districts. One year later, prices have risen in each district by the following amounts:

Henley  +7 per cent
South Kensington  +8 per cent
Central Kensington  +7.4 per cent
Stockwell  +3 per cent
Tooting  +7 per cent
Mitcham  +4 per cent

(source: zoopla)


See my Financial Times article on where and why agents expand by clicking on this link http://www.ft.com/cms/s/2/28b251d0-428d-11e1-93ea-00144feab49a.html#axzz1rARj2Xfz


Here are estate agency openings for summer 2013 -

Notting Hill – Chesterton Humberts

Greenwich – Winkworth

St Albans - Winkworth

Bangalore, India – Winkworth (Franchises in New Delhi and Chennai to follow later in 2013)

Belgravia, Pimlico, Westminster, Knightsbridge (lettings) – Belvoir (purchased lettings agency, Soames)

Shropshire (lettings) – Belvoir Telford (purchased managed portfolio)

Suffolk (lettings) – Belvoir Ipswich (purchased lettings agency, Prime Residential)


If you want to add any branch openings/expansions to this list please add them to the comments section or tweet me @richardgwarren or email me at richard.warren@rocketmail.com