Executive Summary

1. Introduction

The Topic

Objectives

Methodology

Original Research

Definition

2. Strategic Overview

Market Dynamics And Segmentation

Economic Trends

Population

Table.1: Uk Resident Population Estimates By Sex (000), Mid-years-

Gross Domestic Product

Table.2: Uk Gross Domestic Product At Current And Annual Chain-linked Prices (£m),-

Inflation

Table.3: Uk Rate Of Inflation (%),-

Unemployment

Table.4: Actual Number Of Unemployed Persons In The Uk (000),-

Household Disposable Income

Table.5: Uk Households' Gross Disposable Income Per Capita (£),-

Trends In House Prices

Table.6: Regional Ratios Of House Prices To Male Full-time Earnings In The Uk, Fourth Quarters And

Figure.1: Regional Ratios Of House Prices To Male Full-time Earnings In The Uk, Fourth Quarters And

Table.7: Mean Earnings Of Men In Full-time Work In The Uk (£ Per Year), January-march

Figure.2: Mean Earnings Of Men In Full-time Work In The Uk (£ Per Year), January-march

Table.8: Annual Average House Prices In The Uk (£),-

Figure.3: Annual Average House Prices In The Uk (£),-

Table.9: Monthly Average House Prices In The Uk (£), August-march

Figure.4: Monthly Average House Prices In The Uk (£), August-march

Income Issues

Mortgages Down, Sales Down

Table.10: Number Of Housing Transactions In The Uk (000 And Index/2006=100),/2006-2009/

Table.11: Gross Mortgage Lending In The Uk (£m), First Quarter-fourth Quarter

Figure.5: Gross Mortgage Lending In The Uk (£m), First Quarter-fourth Quarter

Estate Agency In Numbers

Table.12: Key Figures For Real-estate Agencies In The Uk — Turnover, Number Of Enterprises And Total Employment (number And £m),-

Figure.6: Key Figures For Real-estate Agencies In The Uk — Turnover, Number Of Enterprises And Total Employment (number And £m),-

Table.13: Key Figures For Real-estate Activities On A Fee Or Contract Basis — Turnover, Number Of Enterprises And Total Employment (number And £m),-

Figure.7: Key Figures For Real-estate Activities On A Fee Or Contract Basis — Turnover, Number Of Enterprises And Total Employment (number And £m),-

From Boom To Restructuring

Scottish Difference

Main Categories Of Residential Estate Agents

Changing Structure

International Agents

Knight Frank

Savills

Hamptons International

Chesterton Humberts

Substantial Provincial Chains

Arun Estate Agencies

Andrews Estate Agents

Kinleigh Folkard & Hayward

Agents Selling Prestige Homes

Chancellors

Strutt & Parker

Jackson Stops & Staff

Smiths Gore

Foxtons

Agencies That Are Important In Their Regions

Badger Holdings (regents, Townends)

Bradley's

Acorn Group

Keith Pattinson

Robinson Jackson

Hunters

Goadsby

Farrell Heyworth

Dacre Son & Hartley

Rook Matthews Sayer

Burchell Edwards

O'riordan Bond

Peter Alan

The Venmore Partnership

Closures And Niches

Lettings Specialists

Association Of Residential Letting Agents

Belvoir

Leaders

Jordan's

Affinity Groups

Movewithus

Home Sale Network

Homelink Network

The Guild Of Professional Estate Agents

Other Affinity Groups

Franchising

Countrywide And Lsl

Other Franchises

Re/max

Xperience

Townends

Winkworth

Belvoir And Jordan's

Issues Of Competition

Advertising

The Consumer

Key Points

3. Marketing Trends

Property Portals

Rightmove

Zoopla (incorporating Propertyfinder)

Primelocation

Findaproperty

Look4aproperty.com/look4aproperty Money — A Rising Star

Other Property Websites

Fish4homes

Globrix

Greenmoves

Halfapercent

Housenetwork

Trovit

Bypassing The Agent

Main Media Advertising

Residential Estate Agencies

Table.1: Uk Main Media Advertising Expenditure By Residential Estate Agents (£000), Years Ending December And

Property Portals

Table.2: Uk Main Media Advertising Expenditure By Online Estate Agents And Home-move Services (£000), Years Ending December And

International Property Companies

Table.3: Uk Main Media Advertising Expenditure On Overseas Properties And Exhibitions, Excluding Timeshares (£000), Years Ending December And

House Builders And Property Developers

Table.4: Uk Main Media Advertising Expenditure By House Builders And Property Developers (£000), Years Ending December And

Key Points

4. An International Perspective

Sub-prime Trigger

Spanish Slide

Eastern Promise

International Market

Key Points

5. Pest Analysis

Political Factors

Stamp Duty Causes Price Bunching

Table.1: Stamp Duty Receipts In The Uk (£m And %), /2002-2009/

Ecological Issues

Regulation

Economic Factors

Mortgage Debt Keeps Rising

Table.2: Credit And Loans Outstanding To Individuals And Housing Associations In The Uk (£m And Index/12/00=100), As Atst December-

Tenancies Have Big Attractions

Unaffordability And The Attractions Of Housing Benefit

Table.3: Income Distribution In The Uk (£ And %), /2000,/2005 And/

Social Factors

Technological Factors

Key Points

6. Consumer Dynamics

Overview

Table.1: Summary Of Responses Regarding Estate Agents And Services (% Of Respondents), January

Landlordship

Demographic Downshift In Landlordship

Table.2: Ownership Of At Least One Property That Is Let To Tenants — Summary Of Results By Sex, Age And Social Grade (% Of Respondents), April And January

Figure.1: Ownership Of At Least One Property That Is Let To Tenants — Summary Of Results By Sex, Age And Social Grade (% Of Respondents), April And January

Single-property Landlordship Highest Among The Middle-aged

Fewer Than One Person In Is A Landlord With Multiple Properties To Let

Table.3: Ownership Of Single Versus Multiple Properties That Are Let To Tenants (% Of Respondents), January

Ownership Of Holiday Homes

Uk Holiday Homes Lose Popularity

Table.4: Ownership Of Holiday Homes In The Uk — Summary Of Results By Sex, Age And Social Grade (% Of Respondents), April And January

Figure.2: Ownership Of Holiday Homes In The Uk — Summary Of Results By Sex, Age And Social Grade (% Of Respondents), April And January

Foreign Holiday Homes Retain Allure

Table.5: Ownership Of Holiday Homes Abroad — Summary Of Results By Sex, Age And Social Grade (% Of Respondents), April And January

Figure.3: Ownership Of Holiday Homes Abroad — Summary Of Results By Sex, Age And Social Grade (% Of Respondents), April And January

Table.6: Ownership Of Holiday Homes (% Of Respondents), January

Buying And Selling Via An Estate Agent

Minor Drop In Percentages Engaging An Estate Agent To Sell Property

Table.7: Engagement Of An Estate Agent In The Past Years To Sell A Property — Summary Of Results By Sex, Age And Social Grade (% Of Respondents), April And January

Figure.4: Engagement Of An Estate Agent In The Past Years To Sell A Property — Summary Of Results By Sex, Age And Social Grade (% Of Respondents), April And January

Bigger Potential Role For Estate Agents As One-stop Shops For Purchasers

Table.8: Those Who Have Engaged An Estate Agent In The Past Years To Sell A Property, And Those Who Believe That Estate Agents Should Provide A One-stop Shop For All Aspects Of Property Purchase (% Of Respondents), January

Opinions Regarding Value For Money And Regulation Of Estate-agency Services

Just Over A Third Believe That Estate Agents Give Good Value For Money

Table.9: Opinion That Estate Agents Provide Good Value For Money — Summary Of Results By Sex, Age And Social Grade (% Of Respondents), April And January

Figure.5: Opinion That Estate Agents Provide Good Value For Money — Summary Of Results By Sex, Age And Social Grade (% Of Respondents), April And January

Majority Say That Estate Agents Are Properly Regulated

Table.10: Belief That Estate Agents Are Properly Regulated — Summary Of Results By Sex, Age And Social Grade (% Of Respondents), April And January

Figure.6: Belief That Estate Agents Are Properly Regulated — Summary Of Results By Sex, Age And Social Grade (% Of Respondents), April And January

Table.11: Opinion That Estate Agents Provide Good Value For Money, And Belief That They Are Properly Regulated (% Of Respondents), January

Estate Agency As A Profession

More Than Six In Ten See Estate Agents As Qualified Professionals

Table.12: Belief That Estate Agents Are Qualified Professional People — Summary Of Results By Sex, Age And Social Grade (% Of Respondents), April And January

Figure.7: Belief That Estate Agents Are Qualified Professional People — Summary Of Results By Sex, Age And Social Grade (% Of Respondents), April And January

Under-25s Most Likely To Agree That Estate Agency Is A Good Career For Young People

Table.13: Belief That Estate Agents Are Qualified Professional People, And Opinion That Estate Agency Is A Good Career Choice For Young People (% Of Respondents), January

Online Property Searches

More Than Six In Ten People Start Their Property Search Online

Table.14: Those Who Would Search Online If Wanting To Move Home/looking For A Property To Buy Or Rent — Summary Of Results By Sex, Age And Social Grade (% Of Respondents), April And January

Figure.8: Those Who Would Search Online If Wanting To Move Home/looking For A Property To Buy Or Rent — Summary Of Results By Sex, Age And Social Grade (% Of Respondents), April And January

Table.15: Those Who Would Conduct A Preliminary Search Online If Looking For A Property To Buy Or Rent (% Of Respondents), January

Home Information Packs

Mixed Opinions: Lukewarm Support, But Opposition Is Tepid Too

Table.16: Attitudes Towards Home Information Packs (% Of Respondents), January

The Future

Has Home Ownership Peaked?

Three In Four Confident That Property Is A Safe Investment

Table.17: Expectation That The Numbers Of People Renting Homes Will Increase, And Belief That Property Is A Safe Investment For The Future (% Of Respondents), February

Key Points

7. Company Profiles

The Rise Of Private Equity

Countrywide

Corporate Strategy

Advertising And Distribution

Profitability

Table.1: Financial Results For Countrywide Plc (£m, Number, %, Ratio And £), Years Endingst December-

Future Developments

Lsl Property Services

Corporate Strategy

Advertising And Distribution

Profitability

Table.2: Financial Results For Lsl Property Services Plc (£m, Number, %, Ratio And £), Years Endingst December-

Future Developments

Connells

Corporate Strategy

Advertising And Distribution

Profitability

Table.3: Financial Results For Connells Ltd (£m, Number, %, Ratio And £), Years Endingst December-

Future Developments

Spicerhaart

Corporate Strategy

Advertising And Distribution

Profitability

Table.4: Financial Results For Spicerhaart Group Ltd (£m, Number, %, Ratio And £), Years Endingst December-

Future Developments

Arun Estate Agencies

Corporate Strategy

Advertising And Distribution

Profitability

Table.5: Financial Results For Arun Estate Agencies Ltd (£m, Number, %, Ratio And £), Year Endingst March, Weeks Endingth September And Year Endingth September

Future Developments

Savills

Corporate Strategy

Advertising And Distribution

Profitability

Table.6: Financial Results For Savills Plc (£m, Number, %, Ratio And £), Years Endingst December-

Future Developments

Hamptons

Corporate Strategy

Advertising And Distribution

Profitability

Table.7: Financial Results For Hamptons Estates Ltd (£m, Number, %, Ratio And £), Year Endingst March, Weeks Endingst December And Year Endingst December

Future Developments

Chesterton Humberts

Corporate Strategy

Advertising And Distribution

Profitability

Table.8: Financial Results For Chesterton Global Ltd (£m, Number, %, Ratio And £), Years Endingst December-

Future Developments

Kinleigh Folkard & Hayward

Corporate Strategy

Advertising And Distribution

Profitability

Table.9: Financial Results For Kinleigh Folkard & Hayward Ltd (£m, Number, %, Ratio And £), Year Ending St December, Weeks Endingst March And Year Endingst March

Future Developments

Rightmove

Corporate Strategy

Advertising And Distribution

Profitability

Table.10: Financial Results For Rightmove Plc (£m, Number, %, Ratio And £), Years Endingst December-

Future Developments

Key Points

8. The Future

The Economy

Population

Table.1: Forecast Uk Resident Population By Sex (000), Mid-years-

Gross Domestic Product

Table.2: Forecast Uk Growth In Gross Domestic Product In Real Terms (%),-

Inflation

Table.3: Forecast Uk Rate Of Inflation (%),-

Unemployment

Table.4: Forecast Actual Number Of Unemployed Persons In The Uk (million),-

Equity Withdrawal

Diverging Markets

Long-term Renting

Less Of An Obsession With Home Ownership

Property As A Cash Cow For Government

Paying For Long-term Care

Table.5: Trends In Life Expectancy And Healthy Life Expectancy At Birth In The Uk (number Of Years And %), , And/

Table.6: Estimated And Forecast Uk Resident Population By Age Last Birthday In-year Age Bands (000), Mid-years,,, And

Figure.1: Forecast Uk Resident Population By Age Last Birthday In-year Age Bands (000), Mid-years,, And

Changes To The Structure Of Estate Agency

Newcomers

Diversification

Where Do Estate Agencies Go Next?

Key Points

10. Further Sources

Associations

Selected Estate Agency Companies And Portals

Publications

General Sources

Government And Official Sources

Other Sources

Key Note Sources