A major recruitment drive has been opened up by Newcastle's iamproperty as it plans to create 100 jobs over the next 18 months.
The Gosforth-based provider of technology for online property auctions says it will initially focus the expansion on its residential conveyancing arm, Medway Law. It is part of a move to capitalise on continued rises in auction transactions. To begin with, 20 roles are being advertised across its conveyancing and business support services. In February and March, more than 20 roles will be available for auction specialists.
Bosses say the move comes on the back of demand for iamproperty's auction solution driven by buyers and sellers looking for fast sales ahead of the Stamp Duty Land Tax deadline in April. That is when the threshold band on residential properties will reduce from £250,000 to £125,000.
Iamproperty, which employs 700 people, is said to be the Ƶ's largest online residential auctioneer and reports that the number of properties sold by auction was up by 28% in December last year, compared with the year before and bidding activity was up 64%. The firm says that auctions can offer 56-day completion timescales from receipt of draft contracts, based on a standard property.
Ben Ridgway, co-founder at iamproperty, said: "We’re pleased to be expanding our 150-strong team within Medway Law with these new legal roles. We know some redundancies were faced in the industry before Christmas and are keen to hear from people with experience who want to be part of modernising the property market and driving innovation.
"We’re committed to making the moving process better, faster, and more secure for everyone involved, and we’re in it for the long term. We’re looking forward to welcoming successful candidates who share our vision.
"The market conditions mean that auction is helping support buyers with quick sales to make Stamp Duty savings and is the current focus of our recruitment efforts. However, we will be creating opportunities in multiple areas of the business as we continue to realise our ecosystem vision to drive real change in the property market."
Plans to increase headcount at iamproperty follow several years of the growth, including 2023's investment from private equity backer Perwyn in a deal believed to have topped £100m. Iamproperty was founded by Jamie Cooke and Ben Ridgway in 2009 as they spotted a gap in the market for a property auction service that benefited estate agents and buyers.
The business has since grown to serve more than 6,000 estate agents and its brands include auction platform iamsold; The Conveyancing Partnership, Intelligent Compliance Limited and VTƵ.
