Property & Estate Agency Franchise Opportunities
Trends and Facts About Property & Estate Agency Franchises
1. Following the peak of the 1990s and early 2000s, the UK property market is now beginning to stabilise. Whilst young couples may find it difficult to gain mortgage approval during the current credit crunch, this means that the Letting industry is really taking off. In May 2008, Rentright UK reported an average rent increase of 8.5%. Statistics from the Royal Institute of Chartered Surveyors (RICS) shows owners are turning back to renting properties that have failed to sell. Now is a good time to enter the letting industry and a more secure way to do this is by investing in a Letting Agency Franchise. It is a well known fact that franchisees benefit from being associated with a recognised brand, as well being part of an established business practice that generates high revenue returns.
2. All is not as bad as it seems! Towards the end of 2008, one of the UK’s leading property agents Persimmon revealed it had recorded a seasonal increase on its properties sales in comparison to corresponding months in 2007. In January 2009, the Building Societies Association reported an increase in mortgage approvals for the month of November 2008. Also, Halifax have revealed a new regular index which shows that first time buyers are now more likely to afford their own home.
3. The current favourable exchange rates (especially with the US dollar) mean that international property sales are at an all time high. A 50% increase was reported in the number of US properties sold to UK buyers for the first half of 2008, which then stabilised to a monthly average of 190,000 properties.
4. Overseas property sales, particularly in the Middle East are enjoying a boom. Saudi Arabia and Jordan have both reported increased demands for property in the latter half of 2008. In addition to the Middle East, Cyprus reported a 9.6 % increase in their tourist industry in November 2008, making it an attractive location for buy-to-let property investors. With the favourable exchange rates and overseas property boom, now is a good time to invest in a Property Agency with overseas interests.