• Site visits increase to over 100,000
• Page views increase from 1.38m to 1.55m
• Poitou Charentes storms back into favour
• Purchases from Jersey & Guernsey likely to increase
• Social media & “mobile” begin to take off

Executive summary

2011 saw Leggett Immobilier increase sales by almost 30%.  Jan 2012 has started in the same vein and, with interest in www.frenchestateagents.com rocketing, this year looks as though it could be a strong one for the agency.
Headline figures for January 2012 are:

2012                    (2011)

Visits :        100,266                (98,485)
Pageviews:     1,550,770             (1,385,570)
Time on site:   11.46mins            (10.58 mins)

It has been interesting to note that one of the biggest jump in visitor numbers has come from the Channel Islands with an increase of 85% from Guernsey and 46% from Jersey. These potential buyers have also taken a strong interest in our new website of prestige properties (www.leggettprestige.com) although these figures are not included in this indices.
January also saw important increases in vistor numbers from Russia (up 97%) and Hong Kong (up 86%) and our Chief Executive, Trevor Leggett, will be analysing these figures further in our review of Q1 in April.
Last month also saw a big jump in referrals to the site from social media sources such as Facebook & Twitter. Users accessing the site from mobiles saw a dramatic rise and now constitutes 8.5% of all visitors (2.5% this time last year).

Most popular destinations

French regions searched in order of popularity in January 2012:
South-West France could well be back in favour this year as last month saw dramatic rises for both Poitou Charentes (visitor numbers up by 136%) and Aquitaine (up by 106%).  We should know by the end of Q1 if this is set to be a trend for the year.

1. Poitou Charentes
2. Aquitaine
3. Brittany
4. Limousin
5. Languedoc Roussillon

Where are visitors coming from?

Visitors came from 175 different countries in January, with a noticeable jump from the Channel Islands, Hong Kong and Russia.  Traditionally strong sources such as Netherlands, Belgium and Switzerland saw slight falls:

1. UK
2. France
3. USA
4. Australia
5. Ireland
6. Netherlands
7. Belgium
8. Canada
9.  Spain
10. Germany
What are they looking for?

The property with the highest number of page visits in January 2012 was this superb development in the heart of the picturesque village of Brantome (Dordogne). Originally a 17th century monastery the development is set in 1.5 acres of beautiful grounds with an option of 1, 2, 3 or 4 bed houses. Prices start from €125,350.

Notes for editors:

*Leggett Online Visitor Enquiries in France (LOVE France)
Following a report that the Bank of England are now using internet search data as an economic indicator, Leggett Immobilier are pleased to publish their “Love France*” index – a monthly analysis of visits to their leading French property website.
Leggett Immobilier are one of the leading international estate agencies in France and have built up an unrivalled reputation over the last two decades.  We have representatives in all of the most popular areas of France and our website (www.frenchestateagents.com) currently has over 7,200 propertes for sale.
Statistics are taken from our international website and do not include figures from our domestic website which services local buyers, nor from our prestige website which services the luxury end of the market..

Trading
“Despite the difficult trading conditions Leggett Immobilier have enjoyed a most successful year.  We have seen an increase in sales of almost 30% and our website, www.frenchestateagents.com, has seen an increase in page views from 12 million to 15 million. We have invested heavily in our internet site and now offer a bespoke map based search facility, virtual tours and a portfolio of over 7,000 properties for sale.

2011 was not an easy year though.  In the UK, transaction levels are likely to be their lowest for 40 years (at 840,000 sales, almost 50% down on 2007), there are no figures available for the French market yet but they will certainly report a slowdown in the second half of the year.

We have seen a deteriorating economic climate, doubts over the long term viability of the euro, increasing interest rates and the banks tightening their lending criteria – given these factors we are proud that Leggett Immobilier continues to grow and to offer the highest quality of service in the market”.

French house prices
“We have seen a good deal of press coverage about price rises in 2011, much fuelled by estate agencies looking to hype the market. However, if you take Paris and PACA out of the equation it is clear that the regional market has not been so buoyant. The FNAIM are reporting a range of price fluctuations for 2011, from a fall of 4.6% in Brittany to an increase of 10.1% in Champagne Ardenne.

We have made it an integral part of our training that our agents are realistic with their valuation and pricing levels.  I was quoted in the press earlier this year, saying that we all need to get used to working within the parameters of a recession that is going to stick around for a good few years to come and I feel just as strongly now”.

Clients
“The growth of our business over the last 12 months has been driven by an increased number of international buyers – from both the UK and further afield.  Indeed, our website has attracted visitors from a staggering 213 different countries.  We have sold houses to clients from Europe, Asia, North America, South America, Africa and Australia.

One noticeable trend has been an increasing number of sales to both ex-pat British buyers (who are currently living overseas and would rather move to France than return home) and ex-pat French buyers who are returning home from a stint overseas”.

2012 and beyond
“Credit Agricole are forecasting a national fall in prices of 5-6% next year with an 8% fall in overall sales.

It is the latter figure which is significant – the market is in danger of stalling unless we all take a sensible view on pricing.  If owners and estate agents are realistic with their expectations and valuations then the French property market can remain amongst the healthiest and most attractive in Europe.

Despite all this you can still find a lovely, old, stone farmhouse in the country with bags of character (large open fireplaces, beamed ceilings, terraccotta tiled floors) at prices similar to those you would have paid in 2004/5. This is the type of property that will offer its occupants the lifestyle that so many people still dream about for their early retirement.

We play host to more tourists than any other country in the world for a variety of wonderful reasons and we regularly top the polls for offering the highest quality of life.  In troubled times owners and investors seek “safe havens” and they simply don’t come more secure or enjoyable than France.

I’m optimistic that, with prudence in the short term, the French property market has an extremely healthy mid to long term future”.

Yahoo news reports that “a survey of over 2,000 adults found their biggest concern was ‘broken society’, as well as the cost of living, crime and violence. Some 5% said they were happy with the UK, with over one in 10 “seriously considering” emigrating.”

This is the third year running that France has been first.

The Uswitch index attempts to measure health, wealth and  happiness by looking at 16 factors to understand how the  major European countries compare to each other. Variables such as net income, VAT and the cost of essential goods, such as fuel, food and energy bills, are examined along with lifestyle factors, such as hours of sunshine, holiday entitlement, working hours and life expectancy to provide a complete picture of the quality of life experienced in each country. For more details go to  http://www.uswitch.com/news/money/uswitch-quality-of-life-index-uk-is-the-worst-place-to-live-in-europe-900002286/

Leggett Immobilier are pleased to announce the results of their September 2011 “Love France*” index.

• Site visits increase 10% year on year
• Page views in September rise to 1,698,062
• Big gains for people searching in Aquitaine (+33%) & Brittany (+28%)
• Visitors from 172 different countries with 38% increase in searches from UK
• Look out for our “quarterly review of the French property market” next month

Executive summary

Last month saw a notable, year on year, increase in overall visitor numbers to www.frenchestateagents.com with a 10% increase in visits and a staggering 34% increase in page views.  This could be confirmation that buyers are now taking more time “grazing” through sites before committing to viewings.

2011               (2010)

Visits :        102,106            (92,829)      +10%

Pageviews:      1,698,062        (1,263,739)  +34%

Time on site:    12.58 mins      (10.34 mins)  +23 %
Most popular destinations

French departments searched in order of popularity this month:
1. Charente
2. Dordogne
3. Haute Vienne
French regions searched in order of popularity this month:
1. Aquitaine
2. Poitou Charentes
3. Brittany

Where are vistors coming from?

Countries searched from (172 different)        2011              (2010)
1. UK                                      62,517            (45,235)   +38%
2. France                                  20,783           (29,616)   – 30%
3. USA                                    3,725             (3,460)    +8%
4. Ireland                                  1,902            (1,526)     +25%
5. Australia                                1,510             (1,365)     +11%

What are they looking for?

Top 3 most popular houses:

1. €315,650 – 4 bedroom bergerie set in 1.5 hectares of forest in the Lot et Garonne (47)

2. €87,200 – 2 bedroom, 2 bathroom apartment in the heart of a Dordogne town (24)

3. €119,900 – renovation project of house and barns set on half a hectare of countryside in the Charente (16)

Notes for editors:
*Leggett Online Visitor Enquiries in France (LOVE France)

The quarterly analysis & reviews will take place in Jan, April, July & October each year.

Leggett Immobilier are one of the leading international estate agencies in France and have built up an unrivalled reputation over the last two decades.  We have representatives in all of the most popular areas of France and our website (www.frenchestateagents.com) currently has over 6,500 propertes for sale.
Statistics are taken from our international website and do not include figures from our domestic website which services local buyers.

Our head office is based on the edge of the Charente/Dordogne border and we thought it would be interesting to compare the hours of sunshine we have enjoyed so far this year with that seen in Great Britain.

The results were conclusive. From 1st Jan to 31st August the total hours of sunshine have been:

France (La Rochelle) – 1707 hours
England (Heathrow) – 1125 hours
Wales (Cwmystwyth) – 1099 hours
Scotland (Paisley) – 1091 hours

That works out at around two and a half extra hours of sunshine every single day of the year so far in 2011….no wonder that we have seen an increase in both enquiries and sales to UK buyers.

It’s a well known fact that our bodies create vitamin D when the sun shines and that a clear blue sky in the morning can make your spirits soar.  So, the next time you’re stuck indoors on a rainy day, gazing out at the grey sky above, why not take a browse around the 6,500 properties we are marketing  and see if you can bring a bit of sunshine into your own life!

Sources – Meteo France and the UK Met Office.

Prices of properties sold by FNAIM members saw an average rise of 3.3% over the previous quarter with a strong rise (4.3%) in properties outside of Paris.

Trevor Leggett, Chief Executive of Leggett Immobilier, comments:

“Further headlines of house price rises need to be treated with caution. We know that the average price of property sold in France by FNAIM members has increased by 6.8% overall this year but it’s important that vendors expectation levels remain realistic.

Sensible pricing will mean that transaction levels remain consistent and both buyers and sellers will benefit.

As previously reported, Leggett Immobilier are certainly seeing an increase in enquiry levels from both local and international buyers – particularly at the top end of the market.

The new wealth tax rules coming into place are making France one of the most attractive destinations in Europe, as the threshold for this tax (ISF) is increasing from €800,000 to €1.3 million. Households with assets of between €1.3 million and €3 million will be subject to a tax of 0.25 percent and for assets over €3 million the tax will be 0.5 percent.

There has also been one recent change to the law on Capital Gains Tax.

Previously, a reduction of 10% per year, beyond the fifth year of ownership, has been applied to the gain calculated. Therefore, sales made beyond the 15th year of holding the property had been fully exempt from CGT and social security contributions.

Now though, the tax due on the sale of these “non primary” residences will be calculated in accordance with the Indice du Coût de la Construction (rate of building inflation) at the time of the sale – taking into account the year you bought the property. In essence this ensures that the natural evolution of price rises is not taxable which appears a sensible move.

This new regime will apply to sales after the 24th August 2011.

Non residents may well have to pay for an independent fiscal representative to ensure the CGT calculation is correct.

The Government are overseeing some radical tax changes to French property ownership and Leggett Immobilier aim to keep you abreast of the implications of these changes through regular updates on our website www.frenchestateagents.com.