PROPTECH-X ‘Proptech & Property News’: Alex Harvey Estate Agents joins the Federation of Independent Agents (FIA) |The UK property market reflects resilience

Andrew Stanton’s daily PROPTECH-X ‘Proptech & Property News’ in association with Estate Agent Networking and News Now.

West Sussex agency Alex Harvey are the latest company to join the FIA growing membership

Graham Lock, CEO of the Federation of Independent Agents commented that, ‘We are really excited that Alex and his team at Alex Harvey, based in Billingshurst, have joined the FIA family having securing membership exclusivity in their local. They are what great agency is all about, a professional attitude and hyper focused personal service which creates value.’

Alex Harvey, an extremely experienced property professional with many years in the industry has built up a highly respected agency in the Horsham district of West Sussex area, says, ‘We joined the FIA as we believe it is important to be part of a network of like-minded professionals who are committed to the highest levels of service and support for their clients.’

‘We are committed to supporting and guiding both our buyers and sellers along the moving home journey and will always do all that we can to ensure a successful outcome. Whatever your situation may be, we promise to deliver an appropriate level of empathy and understanding required to ensure a smooth and swift process.’

Speaking with Alex, it is clear that his philosophy of business totally entwines with that of the FIA. He explained that, ‘We are not just an agent who does a transaction and moves on to the next … we are agents for life … there is a family locally and we have helped family six members with their property needs … we understand their lives, we stay in contact and feel that when we see them in the street we are all part of the same family’  

‘Agency is all about good relationships and professionalism … we guide vendors and buyers through a journey using our knowledge … and after completion we nurture that relationship.’

‘Our philosophy is to create a win-win scenario in every transaction and put the client’s needs above all else to attract and develop long term trusted relationships – we are not transactional but relationship driven.’

Graham Lock CEO of FIA comments, ‘Alex and his team will greatly add to the collective knowledge and professional standards of the industry, as it is FIA’s mission to improve the reputation of our industry. Where respected, high calibre estate agents join forces to create a modern network like no other. With a natural desire to demonstrate consistent quality and professionalism that’s universally recognised.

Members are proud to display the FIA brand, a unique seal of approval exclusive to one agent per area that satisfies our strict entry criteria. We also provide a wide range of products and services that empower our members to deliver more in every vertical of their business.’

The UK property market reflects resilience and stability in Q4 2023

As the year draws to a close, the UK property market is entering into a calmer and more stable landscape. This is according to Nicky Stevenson, Managing Director of Fine & Country, commenting, “Based on the data, we seem to be entering a more settled landscape in the final months of the year. The market continues to display resilience in the face of the wider economic environment, with month-on-month property transactions fairly consistent, supported by committed movers and realistic pricing.”

According to data from Nationwide, house prices saw a 0.9% increase in October, marking the largest monthly rise in over a year. Stevenson adds, “Pricing sensibly remains key, as purchasers are cautious not to overpay. Rightmove data further reveals that 37% of properties have had their asking prices reduced since the beginning of the year. Good quality properties in sought-after locations continue to attract strong interest, with the average price of a prime property standing at £1,258,671. On an annual basis, there has been a slight softening of 0.8.”

The property market appears to be entering calmer territory with unemployment figures and inflation remaining same, and the bank rate being held at 5.25%. According to HMRC, property transactions have remained stable since June this year, although they are down compared to last year. The Royal Institution of Surveyors reports a decrease in homebuyer demand compared to last year, but it has improved since August.

Mortgage approvals dipped to 43,300 in September, below the long-term average. However, according to the Bank of England data, this is a 9% improvement from the start of the year. Although activity from mortgaged buyers is down, the number of cash buyers remains steady and is set to be the second-largest buyer group this year, following first-time buyers. Zoopla statistics indicate that cash buyers accounted for one in three sales in 2023, compared to an average of one in five over the last five years.

“Looking to next year, with anticipated falling interest rates and inflation tracking to reach its target of 2% in the first half of 2025, the property market’s momentum is expected to gather pace. Combined with pent-up demand and the usual springtime uplift in buyer interest, we anticipate a positive shift in market activity,” Stevenson comments.

Andrew Stanton’s PROPTECH-X ‘Proptech & Property News’ in association with Estate Agent Networking & News Now publications. #proptech #property #realestate #digitaltransformation #startups

Andrew Stanton is the founder and CEO of Proptech-PR, a consultancy for Founders of Proptechs looking to grow and exit, using his influence from decades of industry experience. Separately he is a consultant to some of the biggest names in global real estate, advising on sales and acquisitions, market positioning, and operations. He is also the founder and editor of Proptech-X Proptech & Property News, where his insights, connections and detailed analysis and commentary on proptech and real estate are second to none.

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