Page 13 - Redbrik Lifestyle & Property Magazine: Spring 2019

ONLINE ESTATE AGENT EMOOV GOES INTO ADMINISTRATION
Online estate agent Emoov has gone into administration, leaving thousands of customers fearing they will be left out of pocket.
James Cowper Kreston, the firm appointed to act as administrator for Emoov, says the site currently has 5,000 properties listed for sale, or sold subject to contract. It says around 80 per cent
of these listings have been paid for upfront, meaning many risk losing their money.
Emoov’s former Chief Executive Russell Quirk said that cash flow issues contributed to the decision to go into administration. The company has not posted a profit for nine years.
In an email to Emoov staff he said: “They say that entrepreneurs should never give up, but at the same time one needs to know when efforts have been truly exhausted and when you simply have to call it a day.”
The announcement comes just months after the company merged with TV property star Sarah Beeny’s Tepilo.
TAKES TO SPRUCE UP YOUR HOME
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MASTER BUILDERS REVEAL HOW LONG IT
Property owners need to plan up to seven months ahead if they want
a successful home improvement project by a quality builder, according to new research.
The Federation of Master Builders (FMB) has revealed that consumers should expect to wait at least four months for a quality builder to be available. The study also shows that when this period is combined with the length of time various home improvement projects take to complete, owners will have to wait a lot longer.
The study suggests waiting times could be up to:
• seven months for an extension
• six and a half months for a loft
conversion
• five months to paint the entire interior
• five months for a new bathroom or kitchen
• five months to convert part of a master bedroom into an en-suite
• five months to convert a cupboard under the stairs into a downstairs toilet
• just under five months to remove an internal wall to create an open plan kitchen/diner.
Brian Berry, chief executive of the FMB said “A successful building project requires careful planning and our research gives clear guidance to consumers on likely timelines.
“Not only do home owners need to consider how long a project takes
to complete, they also need to remember how long they should expect to wait for a quality builder to be available to get going on their project.
“When looking to appoint a
builder, alarm bells should ring if they say they can start next week. Experienced and professional building firms are booked up far
in advance and it’s always worth waiting for these firms if you want a stress-free experience and a quality finish,” he explained.
HOUSE PRICES TO GROW 13 PER CENT BY 2023
One of Britain’s foremost property consultancies has given an upbeat prediction for the UK housing market over the next five years.
CBRE is forecasting 1.8 per cent growth in average house prices this year - modest, but more optimistic than forecasts from some other property experts - with 2019 transactions volumes
restricted because of growing caution amongst lenders and a muted buy to let market. In addition, the consultancy says compound price growth by the end of 2023 will be 13.1 per cent.
INDUSTRY NEWS