Nick Freeth who heads up Retirement Homesearch has published statistics that show Retirement Homesearch is in decline.
Viewings 2015 11,749
Viewings 2016 1,0112 Down 14%
Instructions 2015 2,082
Instructions 2016 1,935 Down 7%
Sales 2015 1,752
Sales 2016 1,677* Down 40%(*including sales of House manager's flats)
New Buyer Registrations 2015 2,5110
New buyer Registrations 2016 1,8659 Down 25%
According to Mr Freeth the decline is in large part down to general economic uncertainties.
No Mr Freeth, that is not the reason!
Far more likely is that the residents who have had Firstport imposed on them for management have wised up to the fact that despite undue pressure being put on them by house managers to use Retirement Homesearch, they are fre to use an agent of their choice, who in the vast majority of cases provide a better service at a much more economic price.
The widespread media coverage of Firstport's failings do not help Retirement Homesearch either.
For example, the stories of widespread corruption including price fixing do not help.
Neither do reports of residents being trapped for weeks by broken lifts, or residents suffering due to water leaks, or being forced to pay for overly expensive works generated after a very questionable survey.
Imagine you are a potential purchaser and you read of the numerous complaints regarding Firstport. If you do want to buy a retirement development property, why would you wish to buy a Firstport managed property when others are available?
In 2014 Retirement Homesearch made (not earned) a profit of 1,771,001 pounds.
In 2015 that had fallen to 984,745 pounds.
2016 is expected to show a further decline.
