Book a demo

Let a friendly Gnomen expert answer all of your questions and take you through the system online in 15 minutes. Just choose a time that suits you.

username pass repass
CAPTCHA Image Refresh
Sales: +44 (0) 208 123 9019 Support: +44 (0) 208 629 1208

Montana H

Business Development Director

Share Facebook LinkedIn Twitter

Good news for agents annual transactions remain strong

Gnomen - Good news for agents - annual transactions remain_strong

Despite the various challenges faced by the property industry in 2016 Brexit, stamp duty changes and tighter lending criteria chief among them the number of transactions that took place was the highest figure recorded since 2007 (just before the global financial crisis took hold).

According to the latest figures from HM Revenue and Customs (HMRC), there were 1.23 million property transactions last year, higher than the 1.22 million witnessed in 2015 and considerably higher than the 2009 low of 847,540, when the country was in the midst of an economic downturn.

The performance of the market in 2016 once again showed how resilient and robust it can be, batting away any economic and political uncertainty and the pre and post-referendum jitters to prove the more doom-laden naysayers wrong. Predictions were made about house prices falling off a cliff or a property market crash, but this never came to pass as ‘a business as usual’ approach was taken by the industry.

That said, the increase in transactions in 2016 is partly owing to the introduction of the additional 3% stamp duty surcharge on second homes in April, which led to a surge of landlords and investors seeking to buy up property before the deadline hit. In March, the month before the extra tax was implemented, HMRC said that transactions motored to nearly 175,000 as landlords, estate agents and solicitors carried out a last-minute rush on property deals.

In December, 97,250 residential transactions took place, up by 0.2% on November, as the year ended in a steady, solid fashion.

The fact that the levels of properties sold in 2016 was higher than both 2015 and 2014 shows that consumer faith in bricks and mortar has stayed consistent, despite external pressures and uncertainty. People still see homes and property as a safe bet, a solid investment choice.

High volumes of transactions are, of course, good news for estate agents up and down the country. The more homes being sold, the busier agents become. The busier you are, the more important it becomes to manage your workload effectively. That’s what Gnomen offers, the tools with which to run every part of your business seamlessly, no matter where you are in the world.

We operate a cloud-based system that allows you to manage your staff, office, customers and multi-channel marketing all in one place, using the latest software to elevate you above the competition.

In a busy and crowded marketplace, where sellers are selling more homes and more transactions are taking place, your website also becomes more important than ever. You need a strong and accessible online presence to compete in today’s world, with a website that draws sellers in and a user journey that offers them plenty of benefits.

Clients need to be kept happy, engaged and informed as much as possible, to regularly reassure them that the sales process is going as planned. A tailored log-in area, allowing vendors to track viewings, view offers and track the progress of a sale, is one possible way of doing this. What’s more, social media is an excellent way of providing instant, direct communications, providing updates and responding to queries where appropriate.

To make all this possible, you need a website that looks beautiful and works beautifully equally so on mobile, tablet and desktop. It needs to be fast, interactive and user-friendly, giving visitors no reason to head elsewhere.

While 2017 is expected to bring with it fresh challenges for example the triggering of Article 50 (and the political and economic uncertainty this is likely to cause) and the phasing out of mortgage interest tax relief from April - there is no suggestion that the property industry will wilt or suffer as a result. Property transactions are expected to be at a similar level, or higher, in the year ahead, so agents should once again be kept very busy.

To ensure that you keep on top of your hectic diary and provide services that work in perfect harmony, contact Gnomen for more information on 0208 123 9019.

You can also book a free demo to get a better idea of what we offer.

Share this article

Share Facebook LinkedIn Twitter

Montana H

Business Development Director

Twitter LinkedIn

Gnomen news

Agents urged to prepare for introduction of new data protection legislation

It might not be something you have given much consideration to but new data protection legislation is coming into effect from next year that will have a significant bearing on your estate or letting agency business

> Read more

Letting fees ban set to go ahead but no timeline specified

One of the most contentious issues in the lettings industry at present is the proposed ban on letting agents fees to tenants.

> Read more

Complaints against agents - are they on the rise

A few weeks ago, The Property Ombudsman (TPO) launched its latest annual report at the House of Lords, revealing a rise in the number of formal complaints resolved by the redress scheme as well as a record total of compensatory awards paid by estate and letting agents.

> Read more

Selling via Facebook Live-is this the future?

A new first in the world of estate agency has taken place, with online agency HouseSimple recently attempting to sell the first home in the UK via a viewing on Facebook Live. Sale by social media, in other words.

> Read more

What do we know about the new housing minister

Following the recent General Election, a new housing minister was appointed to replace Gavin Barwell, who lost his Croydon Central seat.

> Read more

Election 2017: What are the main parties housing policies

On June 8, Britain will go to the polling booths for a second General Election in just over two years. Theresa May surprised everyone when she announced the snap General Election in April (not least because she herself had previously ruled it out), but since then the party political machines have launched into action and MPs across the country have been out and about in their constituencies, trying to win over voters.

> Read more

Why agents should capitalise on the Bank of Mum and Dad boom

In recent weeks there have been a number of stories about the rising importance of the Bank of Mum and Dad when it comes to house purchases, with financial assistance from parents becoming almost a requirement for young buyers looking to get on the property ladder.

> Read more

The rising influence of short-lets how could it affect letting agents

It sometimes feels like there not a day that goes by without a news story concerning the growing short-lets market.

> Read more

Housing White Paper what does it mean for agents

Earlier this month the government released its eagerly anticipated housing White Paper. The 104 page document sets out how the Conservative Party intends to improve the supply/demand imbalance of housing in the UK.

> Read more

Is 2017 the beginning of the end for estate agent boards

For Sale and To Let boards have long proved divisive with some arguing they are still a useful marketing and advertising tool, while others argue that they are an eyesore and a relic from a different age. But have they had their day

> Read more

House prices: what could happen in 2017?

Last year was a memorable one for a number of reasons, and throughout an astonishing 12 months which included the Brexit vote and election of Donald Trump the UK property market remained stable and consistent.

> Read more

Three tech resolutions for estate and letting agents

The new year is here and while many people will be spending January trying out a new diet or working hard at the gym, it's also a good time to review your business and make plans for the year ahead.

> Read more

Fees ban means letting agents must embrace tech and streamline processes

One announcement in Philip Hammonds recent Autumn Statement his first as Chancellor caused a bit of a stir in the property world

> Read more

Bricks or clicks-what the future of estate agency

Within our industry there has been a long-running debate between traditional high street estate agents and newer online operators which has focused on the future of our sector

> Read more

The number of new high street offices shows strength of agency sector

The number of high street estate and letting agents operating throughout the UK is on the rise, despite regular talk of the threat online/hybrid models pose to the more traditional way of doing things.

> Read more

The PropTech news stories that got us talking this month

The third quarter of 2016 was a characteristically busy three months in the property world. There was plenty of estate and letting agency news to get our teeth into over the summer

> Read more

Why Your Data is Better in the Cloud

See my guest blog on this PropTech special featured on NC Real Estate and find out the benefits of storing your data on the cloud

> Read more

Why a good website is crucial for estate and letting agents

We now live in an internet-reliant, thoroughly online age.

> Read more

The five most important estate agency news stories of the summer

Unfortunately summer is coming to an end now, but what an eventful few months it\'s been.

> Read more

Why agents must convert online enquiries to capita

Estate and letting agents' digital marketing spend has certainly increased over the last decade.

> Read more