Huge losses revealed at Purplebricks after takeover Property Online estate agency Purplebricks racked up huge losses in the year it was taken over by Strike, it has been revealed. New accounts filed nine months after the Companies House deadline show the firm’s pre-tax losses went from £19.4m to £37.8m in the year to 31 March 2024. Over the same period, its turnover rose [...]
Dubai first-time buyer scheme hopes to lure Brits, and keep them Wealth A new first-time buyer scheme in Dubai will keep expats in the country for longer and is likely to help lure even more ambitious Brits priced out of the property UK market to the gulf state, property experts in the Emirate have said. The city state’s Land Department unveiled its first formal programme to help [...]
Dexters: High rents boost profit of London’s largest private estate agent Property Independent estate agent Dexters has reported a double-digit profit boost due to growth in its letting arm. Revenue rose 23 per cent rise to £222m in 2024, from £181m in 2023, with underlying operating profit up 17 per cent to £47.2m, from £40.4m in the prior year. Dexters, which is London’s largest estate agency with [...]
Purplebricks boss who rescued online estate agency for £1 to step down November 7, 2024 The chief executive of Purplebricks is to step down as the online estate agency undergoes a major restructure. Sam Mitchell has been the CEO of Strike since January 2018 and took over the same role at Purplebricks in June 2023 after the company was acquired for just £1 after falling into financial difficulties. Mitchell has [...]
Desperate rich Brits seeking homes abroad in record numbers, say estate agents October 21, 2024 Super-rich Brits are looking at properties in popular expat destinations in record numbers, several leading estate agents have told City AM, as they prepare to flee “in desperation” from any punitive measures introduced at next week’s Budget. Enquiries to luxury property specialist Christies International Real Estate Dubai have trebled in recent months, one agent said, [...]
Renters set for more tough times as house sales strengthen October 10, 2024 The latest RICS Residential Survey has provided a lot of optimism for house buyers and sellers, but less for tenants, who are set to contend with an even tougher market. The survey, which asks estate agents for their opinion on the housing market, found a “sustained improvement in market activity”, with measures of demand, sales and [...]