Foxtons Share Discussion Threads

[brahmsnliszt] 16/6/2015 20:31

I don't have sky so I don't.Foxtons don't have a monopoly on home sales in London like sky's footie coverage imo.CR, I wished u investors luck, I don't like foxtons aggressive tactics but that's just my opinion. Respect other people's opinion. As I said, I wish u luck.

[cockneyrebel] 16/6/2015 18:58

Hmmm - I hear so many people moan about Foxtons - but where do they go to sell their house? Foxtons - becaus e they get it sold and get the price.

It's a bit like the way I hate the wages that Premier footballers get and the prices Sky charges - but where do I watch football 3-4 times a week? On Sky - the Premier League.

CR

[brahmsnliszt] 16/6/2015 18:25

They might stop renting from foxtons if they are well known for sharp practises and charge 33 pct plus vat on commission for work done. I have a property in Greenwich and get work done from time to time. I expect a small premium but don't get stitched in that kind of way.Their aggressive customer attitude strikes me rather similar to Goldman Sachs in that bottom line pnl is the only thing that matters....sod the customer.I bought last year when chart wise it looked over extended on the downside and got out on the way up. Wish the investor luck here, but I don't like foxtons aggressive attitude.

[ayl30] 16/6/2015 16:47

Re above, you need to get behind the facts a bit here. First, agents going out of business are as a result of market share gains by the likes of Foxtons. The old high cost business model is being replaced by the low cost like of Foxtons. Like many other industries (Airlines, food retail) old war horses are being beaten hands down by low cost operators.
Second, Foxtons makes more than half of its money from lettings - are people suddenly going to stop renting then?

[market sniper2] 16/6/2015 13:44

Now you can see why Broker G Sachs as a SELL on FOXT.

[brahmsnliszt] 16/6/2015 13:23

Anyone who gets into btl now in London needs their head examined. The returns aren't there. They are just contributing to the ever worse bubble thinking of if I buy this flat now, some sucker will pay more for it in 6 months time.

[market sniper2] 16/6/2015 11:22

Although property prices are so high in London, the agents have been hit by the combination of very low sales volumes and the extremely costly overheads associated with operating in the capital.

[market sniper2] 16/6/2015 11:20

Top London estate agents in financial trouble, claim
Written by: ROSALIND RENSHAW | JUNE 12, 2015

Some previously successful estate agents working in the top end of the London market are said to be in trouble.

Although property prices are so high in London, the agents have been hit by the combination of very low sales volumes and the extremely costly overheads associated with operating in the capital.

One agent is said to have had administrators appointed last month, and Ed Mead, director of Douglas and Gordon, said two more high-end firms are “totteringR21;.

He told Eye: “I suspect there will be many more. Indeed, there are very few agents who made money in prime central London last year and it’s only going to get worse.”

Other agents have spoken of the extremely difficult start to the year for the London market.

Cluttons said there had been “a sharp tailing off in demand during the first quarter, with vendors withdrawing properties and buyers adopting a ‘wait and see’ approach”.

Faisal Durrania, international research and business development manager at Cluttons, said there had been “a conspicuous absence of activity”.

Knight Frank has also reported a 2.3% rise in prime central London sales prices in the year to May – the lowest uplift in five and a half years. Tom Bill, Knight Frank’s head of London residential research, says that Stamp Duty Land Tax is a significant problem.

Mead, writing on the Douglas & Gordon website, says: “The pressure the Treasury has been putting on the sector, squeezing every last penny in what has seemed like an ever-increasing vice, seems to be taking its toll, with previously successful top-end estate agents now going into liquidation and the number of deals continuing to fall.

“Slipping in under the Mansion Tax wire, though the changes in last year’s Autumn Statement were trumpeted as doing away with the slab system, benefitting 98% of the population, but for those seeking their dream Chelsea home the effective rate of SDLT is now 12%.

“So for those worrying about volumes in London continuing to fall, I’d say they’re right.

“Values, far more likely to catch the journalist’s eye, would seem set fair to rocket at some point for exactly the same reason they always have – lack of supply.

“Sadly it seems that this more brittle driver of values is going to continue to set the tone.

[market sniper2] 16/6/2015 11:18

i trust G sachs, an outstanding broker.
you guys have got it all wrong.

its not property prices that is the issue
its the supply of houses (lack of supply) to the market that
is the problem. thus driving prices up and
making purchases unaffordable.

not only that but recent research shows that
mum and daddy are more likely to not part with
there money for the kids purchases. they are once
again living at home.

estate agents wont be able to cope with this.

[cestnous] 16/6/2015 11:16

Agree with all those points Ayl30 and doing the same myself.

[ayl30] 16/6/2015 11:02

Dr Townley is obviously an innocent abroad when it comes to dealing with Estate agents. FOXT are no better or worse than the others in many regards but overall get the results for their clients - thats why people go to them. G S have their view but all they are trying to do is create churn in the shares for their clients - this against a market that is positive for estate agents in general - and FOXT in particular in London (Re recent comments about post election activity in London market).
I will continue to hold FOXT, not blindly but taking a more rational and longer term view. Let the D Mail and others continue to run their scare stories it matters not

[cockneyrebel] 16/6/2015 09:57

Do you really trust what G.Sachs says?

Wouldn't you expect G.Sachs to knock a stock before buying and reversing their position?

Don't you think it strange that despite G.Sachs note it has bounced off the mornings lows well?

Do you not think it strange G.Sachs coming out with that note when London house prices showed a strong rise last month to record highs?

Worth being a sceptic all the time imo.

All imo

CR

[brahmsnliszt] 16/6/2015 09:09

No wonder when u hear of shoddy practises like this.http://www.telegraph.co.uk/finance/property/11670878/Landlords-in-tears-over-hidden-estate-agency-costs-following-Foxtons-case.htmlDr Townley paid Foxtons 17pc plus VAT on rent of £1,400 a month for two years between 2011 and 2013.He said he decided to let his home through an agent for "peace of mind", as it was his family home and he was spending some time abroad. He owns no other properties.He chose Foxtons out of a shortlist of four agencies because Foxtons said they could let the house for £1,700. However, this never materialised. Instead, Mr Townley was forced to reduce the rent to £1,400, and by that time, he was locked into an exclusive contract with Foxtons for three months.

[market sniper2] 16/6/2015 08:56

Foxtons : Goldman Sachs cuts to sell from neutral; raises target price to 221p

[market sniper2] 16/6/2015 08:56

Foxtons : Goldman Sachs cuts to sell from neutral; raises target price to 221p

[dlku] 16/6/2015 08:54

Goldman putting the boot in


Wouldnt bet against them taking this down and down

[cockneyrebel] 15/6/2015 08:33

London house prices up 5.7% in the last month - Rightmove.

CR

[ny boy] 13/6/2015 21:30

The warning signs are already there to be seen, the top end market in PCL is virtually dead.


Whichever path the London market takes, property in the capital looks very expensive even from a global perspective, he says. “In terms of price per square foot, London property is second only to Monaco and 50% more expensive than third placed Hong Kong. By contrast New York and Paris property looks relatively cheap.”

The lengthening time to sale in London suggests pricing may be moving out of step with the market dynamic due to over confidence; a common sign that a vigorous market is approaching a ‘frothy top’.

[kmann] 11/6/2015 18:54

Seems so. C4 news ran out natural disasters and human rights storys?

[cockneyrebel] 11/6/2015 16:28

Up 5% in two days - noise over? Oversold?

CR

[dlku] 11/6/2015 07:06

Telegraph

Housing market grinds to a halt as sales hit lowest level since 1978





London and the North West saw the sharpest contractions in the supply of homes for sale, while Scotland was the only area of the UK to have seen an increase in the supply of properties.

[napoleon 14th] 10/6/2015 18:57

Kept mine.

[elcapital] 10/6/2015 18:31

dead cat bounce, good point to short again. 200 target imo