The Number of Property Transactions in the UK is Forecast to Decline by 15% in 2005, while Estate Agency Revenue will Fall by 9.1%.DUBLIN, Ireland -- Research and Markets (http://www.researchandmarkets.com/reports/c27297) has announced the addition of Estate Agents Market Report 2005 to their offering. This report examines UK estate agents and their principal market: the sale, leasing and renting of residential property. The definition of estate agents in this report excludes estate managers, surveyors, valuers, auctioneers, property companies, property consultants and other professionals or organisations that provide specialist property services. It is estimated that there were 1.4 million property transactions in the UK in 2004 -- a 10% decline on the figure for 2003. Total estate agency revenue is estimated at GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 5.27bn in 2004, compared with GBP 5.46bn in 2003. Most of this revenue came from property sales, but estate agents also earned income Sources of money derived from the labor, professional service, or entrepreneurship of an individual taxpayer as opposed to funds generated by investments, dividends, and interest. from mortgage and insurance sales, lettings and property management, and valuations and surveys. There are several important issues in this sector in 2005. Firstly, the market is growing weaker. Property is selling more slowly, vendors are delaying putting their homes on the market and the average margin between a property's asking price and the price that buyers are actually willing to pay is widening. The first 3 months of 2005 were awful for most estate agents, with sales volumes sharply down on the same period in 2004. Secondly, buy-to-let purchasers have become much more cautious and some are even leaving the sector. Thirdly, in the midst Adv. 1. in the midst - the middle or central part or point; "in the midst of the forest"; "could he walk out in the midst of his piece?" midmost of this weakening weak·en tr. & intr.v. weak·ened, weak·en·ing, weak·ens To make or become weak or weaker. weak  en·er n. market, franchised estate agencies appear to be strengthening their position. Franchising has become much more popular as a way of developing in this sector. Finally, there is the controversy over the Home Information Pack (HIP), which the Government plans to make compulsory Wikipedia does not currently have an encyclopedia article for . You may like to search Wiktionary for "" instead. To begin an article here, feel free to [ edit this page], but please do not create a mere dictionary definition. for all sellers in England and Wales England and Wales are both constituent countries of the United Kingdom, that together share a single legal system: English law. Legislatively, England and Wales are treated as a single unit (see State (law)) for the conflict of laws. . The National Association of Estate Agents (NAEA NAEA National Association of Estate Agents (UK) NAEA National Art Education Association NAEA National Association of Enrolled Agents NAEA National Abstinence Education Association NAEA National Atomic Energy Agency ) is deeply unhappy with the HIP, which is to be launched as a pilot scheme in 2006 and made mandatory in 2007. It fears that the scheme's cost and time implications will have a damaging effect on the market and could even force some estate agents out of business. In mid-2005, industry experts were in disagreement about the immediate future of the market. The NAEA and some building societies were reasonably optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op , but some leading estate agencies were predicting a dire 2005 and a poor 2006. It is forecast that the number of property transactions will decline by 15% in 2005, while estate agency revenue will fall by 9.1%. The market is unlikely to recover before 2008. Companies mentioned in the report include: - Countrywide coun·try·wide adv. & adj. Throughout a whole country; nationwide: launched a fundraising campaign countrywide; a countrywide search. Adj. 1. Estate Agents - The TEAM Association - Connells Residential - Halifax Estate Agencies Ltd - Your-Move.co.uk Ltd - Spicerhaart Group Ltd - Reeds Rains Ltd - Arun Estate Agencies Ltd - Kinleigh Folkard & Hayward Ltd - Winkworth Franchising Ltd - Your-move.co.uk Ltd For more information visit http://www.researchandmarkets.com/reports/c27297 |
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