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ESTATE AGENTS - UK - DECEMBER 2017

Published By :

Mintel

Published Date : Dec 2017

Category :

Manufacturing

No. of Pages : N/A

Given its sensitivity to economic processes, the estate agents market has been at the forefront of Brexit uncertainties over the past year. The market was able to maintain growth as it continued its trajectory of year-on-year increases, but market conditions and evolving consumer behaviour have forced structural changes, elevating online portals and driving more consumers into the rental sector as home ownership is limited by decreasing affordability.

Table of contents
EXECUTIVE SUMMARY
The market
Figure 1: UK Estate Agents Market Value, million and % change, 2013-2017
Market segmentation
Commercial Estate Agents
Figure 2: Commercial Estate Agents Market Value, million and % change, 2013-2017
Residential Estate Agents
Figure 3: Residential Estate Agents Market Value, million and % change, 2013-2017
Lettings
Figure 4: Proportion of Rented Property, Commercial and Residential, % of total, 2006 & 2016
Market factors
Continued housing under-supply limiting stock
Surging popularity of online property portals
Broadened regional scope
Market trends
UK house prices
Figure 5: UK House Price Index, August 2008-2017
Residential property transactions
Figure 6: UK property transactions with value of 40,000 or above, quarterly, Q1 2012 Q2 2017
The consumer
Consumer activity in the property market
Figure 7: Purchasing Activity, % of respondents, September 2017
Influences in the real estate market
Figure 8: Factors underlying consumer choice, % of respondents, September 2017
Methods used during house search
Figure 9: Means of searching for real estate, % of respondents, September 2017
Likelihood of future activity
Figure 10: Future market involvement, % of respondents, September 2017
Motivating factors
Figure 11: Reasons against involvement, % of respondents, September 2017
Market Forecasts
Figure 12: UK Estate Agents Market Forecast, million and % change, 2018-2022
What we think
KEY ISSUES
One year on, how has Brexit manifested in the estate agents market?
Ban on letting agents fees
INTRODUCTION
Issues in the market
Definitions
Methodology
Abbreviations
Market positioning
OVERVIEW
Figure 13: Forecast GDP development 2017-21 (% growth)
Figure 14: UK GDP quarterly development, 2004-17 (Index 2012 = 100)
Inflation
House prices
Figure 15: UK House price changes, 2006-2017 (12 month % change)
Interest rates
Consumer spending
Manufacturing
Figure 16: UK manufacturing, 2014-17 (Index, 2015 = 100)
Business investment
Figure 17: UK GFCF 2003-17 ( million)
Imports
Exports
MARKET SIZE
Key points
The market maintains growth, though margins narrow significantly
Figure 18: UK Estate Agents Market Value, million and % change, 2013-2017
MARKET SEGMENTATION
Key points
The commercial sector is constrained by mounting hesitancy
Figure 19: Commercial Estate Agents Market Value, million and % change, 2013-2017
The residential sector maintained growth, though high-end activity slowed in line with hesitancy
Figure 20: Residential Estate Agents Market Value, million and % change, 2013-2017
Lettings continue to grow
Figure 21: Proportion of rented property, commercial and residential, % of total, 2006 & 2016
Decreasing home ownership
Figure 22: Home ownership in the UK, owner-occupied as a % of all dwellings, 2007-2016
MARKET FACTORS
Key points
Continued housing under-supply limiting stock
Surging popularity of online property portals
Broadened Regional Scope
MARKET TRENDS
Key points
Developments in the residential sector
UK house prices
Figure 23: UK House Price Index, August 2008-2017
Figure 24: UK first-time buyer house to earnings ratio, Q1 2012 - Q3 2017
Residential property transactions in the UK
Figure 25: UK property transactions with value of 40,000 or above, quarterly, Q1 2012 Q2 2017
INDUSTRY STRUCTURE
Key points
Industry Development
Industry by Structure
Figure 26: Analysis of changes in real estate agencies, outlets & businesses, % change, 2013-2017
Figure 27: Analysis of changes in management of real estate on a fee or contract basis, outlets & businesses, % change, 2013-2017
Industry by Turnover
Figure 28: Financial analysis of real estate agencies, 000 and % of total, 2016 & 2017
Figure 29: Financial analysis of management of real estate on a fee or contract basis, 000 and % of total, 2016 & 2017
Industry by Employment
Figure 30: Analysis of the employment structure of real estate agencies, % of total, 2016 & 2017
Figure 31: Analysis of the employment structure of management of real estate on a fee or contract basis, % of total, 2016 & 2017
COMPANY PROFILES
CONNELLS LTD
Recent company activity
Figure 32: Financial analysis of Connells Ltd, million, 2012-2016
Company strategy
COUNTRYWIDE PLC
Recent company activity
Figure 33: Financial analysis of Countrywide Plc, million, 2012-2016
Company strategy
FOXTONS LTD
Recent company activity
Figure 34: Financial analysis of Foxtons Ltd, million, 2012-2016
Company strategy
JONES LANG LASALLE LTD
Recent company activity
Figure 35: Financial analysis of Jones Lang LaSalle, million, 2012-2016
Company strategy
LSL PROPERTY SERVICES PLC
Recent company activity
Figure 36: Financial analysis of LSL Property Services, million, 2012-2016
Company strategy
PURPLEBRICKS GROUP PLC
Figure 37: Financial analysis of Purplebricks Group Plc, million, 2013-2017
Company strategy
RIGHTMOVE PLC
Figure 38: Financial analysis of Rightmove Plc, million, 2012-2016
Company strategy
SPICERHAART GROUP LTD
Recent company activity
Figure 39: Financial analysis of Spicerhaart Group Ltd, million, 2012-2016
Company strategy
STRUTT & PARKER
Recent company activity
Figure 40: Financial analysis of Strutt & Parker, million, 2012-2016
Company strategy
YOUR MOVE
Figure 41: Financial analysis of Your Move, million, 2012-2016
Company strategy
ZOOPLA PLC
Recent company activity
Figure 42: Financial analysis of Zoopla Plc, million, 2013-2016
Company strategy
THE CONSUMER
Key points
Consumer activity in the property market
Purchasing activity
Figure 43: Purchasing Activity, % of respondents, September 2017
Influences in the real estate marketplace
Figure 44: Factors underlying consumer choice, % of respondents, September 2017
Methods in house search
Figure 45: Means of searching for real estate, % of respondents, September 2017
Likelihood of future activity
Figure 46: Future market involvement, % of respondents, September 2017
Motivating factors
Figure 47: Reasons against involvement, % of respondents, September 2017
MARKET FORECAST
Key points
Figure 48: UK Estate Agents Market Forecast, million and % change, 2018-2022
Market Segmentation
Residential
Figure 49: UK Residential Forecasts, % change, 2017-2021
Commercial
Figure 50: UK Commercial Forecasts, % change, 2017-2021
FURTHER SOURCES AND CONTACTS
Trade Associations
Trade Magazines
Trade exhibitions

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